Business news from Ukraine

Business news from Ukraine

Seoul refuses to sell arms to Kiev – Korean press

Ukraine wanted to buy arms from South Korea that would help in confronting the Russian army, but Seoul refused, South Korea’s SBS News reported.

According to the publication, the Ukrainian delegation asked for authorization to purchase Korean weapons, not a free transfer. In particular, Cheongung medium-range surface-to-air missiles.

According to the source, Ukraine asked for non-lethal weapons. In addition to Cheongung interceptor missiles, the Ukrainians were interested in radars – for air defense and anti-artillery. The Ukrainians also requested charges for 155mm artillery shells.

It is likely that Korean defense companies such as LIG Nex1, Hanwha and Hyundai Rotem have received offers from Ukraine to cooperate on arms purchases. But the South Korean Defense Ministry recommended them to refrain from signing contracts. The reason for the refusal is allegedly “a high risk of violating foreign trade laws restricting exports to combat zones”.

As reported, a Ukrainian delegation headed by Defense Minister Rustem Umerov visited Seoul earlier this week.

https://interfax.com.ua/

 

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60 Ukrainian dairies have been accredited in EU

The European Union has accredited 60 Ukrainian dairy plants, Minister of Agrarian Policy and Food Vitaliy Koval said in a telegram.

“The Ministry of Agrarian Policy supports the dairy industry. Our priorities are the development of livestock and agro-processing. For this purpose, UAH 1 billion has been allocated in the budget for the next year,” he wrote after participating in the All-Ukrainian conference Dairy Business 2024.

The Minister added that thanks to the initiative of the First Lady, Ukraine is introducing milk as a compulsory product for primary school children – 200 ml per day.

According to the State Statistics Committee, in January-October 2024, Ukraine exported 101.6 thousand tons of dairy products worth $250.1 million. In physical terms, exports grew by 10% compared to the same period last year, and revenue by 13%.

In addition, Ukraine is intensifying negotiations with Indonesia to open the market for several commodities, including milk and dairy products.

IC “Nadiyna” has sharply reduced gross premiums

Private JSC “Insurance company ‘Nadiyna’ (Kyiv) in January-September 2023 has collected gross insurance premiums in the amount of UAH 49,890 mln, that is by 49,9% less than in the same period a year earlier. This is evidenced by the data in the information of RA “Standard-Rating” on updating the company’s credit rating/rating of financial stability (reliability) of the insurer at the level uaA+ according to the national scale.
Thus premiums from individuals have amounted to UAH 0,36 m, and premiums from reinsurers have been absent. Thus, following the results of the nine months of 2024 the client portfolio of the insurer on gross premiums has been mainly represented by legal persons.
Insurance payments sent to reinsurers, for the reporting period have decreased by 78,57% compared to the same period of 2023 – to UAH 11,818 mln. The ratio of reinsurers’ participation in insurance premiums has decreased by 31,69 p.p. to 23,69%.
Net premiums of the insurer have decreased by 14,31% – to UAH 38,072 mln, and net earned premiums – by 19,28%, to UAH 35,586 mln.
The volume of insurance payments and indemnities made by the company has grown by 89,55% – up to UAH 10,844 mln. Thus, the level of payouts has grown by 15,99 p.p. and has amounted to 21,74%.
Profit from operating activities of the insurer has amounted to UAH 15,335 mln, and net profit has amounted to UAH 13,392 mln.
Assets as of November 1, 2024 have grown by 12,95% – to UAH 85,693 mln, shareholders’ equity – by 5,76%, to UAH 68,306 mln, liabilities – by 54,13%, to UAH 17,387 mln, cash and cash equivalents – by 39,94%, to UAH 57,572 mln.
As of the reporting date, the company formed a portfolio of current financial investments in the amount of UAH 6.195 mln, which consisted of investments in government bonds.
According to the company’s website, it was registered in the Unified State Register of Legal Entities, Physical Entrepreneurs in 2006. Its authorized capital is UAH 15 million.
Its shareholders are eight individuals – residents of Ukraine and one legal entity – Agroholding 2012 LLC.

 

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General strike has begun in Italy

On Friday, Italian citizens went on a general strike demanding higher wages and increased investment in the social sphere, ANSA reports. Employees of the public and private sectors intend to strike for eight hours.

In the transportation sector, by order of Italian Minister of Infrastructure Matteo Salvini, the strike will be limited to four hours. Thus, water transport, buses, subways and trams will stop working from 09:00 to 13:00 local time (10:00 to 14:00 Kyiv time). Air traffic will be suspended from 10:00 to 14:00 local time (11:00 to 15:00 Kyiv time). Firefighters will also not work during this time period.

However, the strike will not affect rail services. A total of 43 protests are planned throughout Italy on Friday. The day before, the Italian Labor Union and the General Italian Labor Confederation called on citizens to go on strike to demand higher wages, increased funding for healthcare, education, public services, and investment in industry.
According to various estimates, there are about 1 million Ukrainian citizens in Italy.

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Veranda na Dnіpі restaurant made promotional video with Olympic champion Olga Harlan

In the very heart of Kyiv, on the picturesque Dnipro embankment, Veranda na Dnipre restaurant continues to invite guests and celebrity ambassadors. The new promotional video, which features Olympic champion Olga Harlan, is a vivid confirmation of the restaurant’s unique concept.

In the video, the restaurant’s brand chef Sergey Bashinsky demonstrates the exquisite skill of cooking lobster. The video culminates in the moment when Olga Harlan, with her trademark grace and determination, cuts the lobster with a sword. This vivid image symbolizes the perfect combination of culinary and sports professionalism.

“It was a unique experience to combine my sportsmanship with the art of cooking. I am very pleased to be a part of this story, which so successfully emphasizes the values of health and excellence that underlie Veranda na Dnipro. Here, every moment is a holiday,” comments Olga Harlan.

Collaboration with the Olympic champion was an important step for the restaurant in creating a new aesthetic. Olga, who symbolizes not only strength but also elegance, perfectly complements the atmosphere of the restaurant, where luxury and a sense of celebration reign.

“We are proud to work together with such an outstanding personality as Olga Harlan. Her sporting achievements, patriotism and love for haute cuisine perfectly resonate with our vision of the restaurant as a place where special moments are born,” says brand chef Sergey Bashinsky.

Veranda na Dnepre is known for its rich menu, which includes dishes from 12 cuisines. Organic products cooked with love for details, signature drinks and desserts, as well as the largest wine list in Ukraine create a real gastronomic pleasure.

Every detail in the restaurant is carefully thought out to give guests comfort, coziness and perfect service. From business meetings to romantic evenings, Veranda na Dnipro is always the best choice for celebrating moments you want to remember forever.

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IC “VUSO” plans to appoint new deputy chairman of board

Shareholders of PJSC Insurance Company VUSO (Kyiv) on December 10 will decide on the appointment of Irina Hevel as Deputy Chairman of the Board for digital business by transfer from the position of Advisor to the Head of the Board. This is reported in the draft decisions of the shareholders’ meeting, publicized by the company in the system of the National Commission on Securities and Stock Market.

As reported, Irina Gevel from August 2017 and until the end of 2023 held the position of the head of the Board of IC “Alfa Insurance”.

In addition, during the meeting Alexey Babenko is planned to be appointed to the position of the Head of Internal Audit Service and Yuri Izotov to the position of the Head of Risk Management of IC “VUSO” by transferring them from the position of the advisor of re-directing. At the same time, it is emphasized that Izotov may take office after the approval of the NBU. Also during the meeting the shareholders plan to approve the risk management policy of the company in a new edition, the plan of continuous activity of IC “VUSO” and the report on compliance risk management for Q3 2024.

IC “VUSO” was founded in 2001. The company holds 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance, is represented in all regions of Ukraine. It is a member of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU) and the Ukrainian Insurance Federation (UIF), as well as a participant of the Agreement on direct settlement of losses and a member of the Nuclear Insurance Pool.

 

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