Business news from Ukraine

Business news from Ukraine

Qatar authorities updated entry rules for foreign tourists

The Qatari authorities have updated the rules of entry for foreign tourists – from February 1, 2023, travelers will have to show local medical insurance to enter the country.
“According to information, from February 1, 2023, all tourists coming to Qatar must have a health insurance policy issued by health insurance companies registered with the Ministry of Health of Qatar (MOPH Qatar). The insurance is issued for 30 days, regardless of the duration of the vacation, its cost is 50 Qatari rials. It only covers emergency services and accidents,” the statement said.
“Host companies recommend purchasing insurance in advance to avoid delays upon arrival in Qatar. It is reported that tourists can buy the necessary insurance online (on the website of the Qatar Ministry of Health). Insurance can also be purchased upon arrival at Hamad International Airport in Doha,” the statement said.

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European Parliament’s President to Ukrainian President: Ukraine is Europe

President of the European Parliament Roberta Metsola believes Ukraine will become a member of the European Union.
On Thursday in Brussels at the European Parliament, welcoming Ukrainian President Volodymyr Zelensky, she said: “I am proud to say that this House of European Democracy, its members, our European Union – have always stood with you. We understand that you are fighting not only for your values, but for ours. For those ideals that bind us as sisters and brothers. That make us, all, European. Because Ukraine is Europe and your nation’s future is in the European Union.”
The President of the European Parliament called for the EU to show support for Ukraine “not only with words but with action: with the political will to ensure easier trade with the fastest possible accession process. With funds for your people, with help in reconstruction, with training for your troops. With military equipment and defense systems you need to win.”
Metsola also said the world is going through “extraordinary times” right now. “It has been almost one year since the brutal, illegal invasion of sovereign Ukraine by Russia. In all that time, Mr President, your leadership has inspired your people and inspired every corner of the globe. When the world thinks of Ukraine they think of heroes fighting the odds, of David beating Goliath,” she said.
The President of the European Parliament also called the decision of the Ukrainian leadership to send aid to the victims of the earthquake in Turkey and Syria “real solidarity.”

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Dneprovskiy Metallurgical Plant launches another rolling shop

Dniprovskyi Steel (DMZ, formerly Evraz-DMZ), which is part of DCH Steel group of DCH businessman Oleksandr Yaroslavskyi, has transferred heating furnaces of rolling shop #1 to natural gas instead of blast furnace gas due to idle blast furnaces and shortage of coke oven gas.
According to DCH Steel corporate newspaper, two heating furnaces of PC-1 have been switched to natural gas since October 2022, and since January 2023 six furnaces involved in production have already been switched to this energy carrier.
“The energy resource is very expensive, so the focus is on continuous monitoring of natural gas costs per ton of production for each well. Thus, we strive to monitor how different indicators influence specific gas consumption: technical condition of the equipment, duration of air alarms, during which the metal is in the furnace overtime, human factor and others,” explains Director for Quality and Technology Yuriy Kravchenko, who is quoted by the newspaper.
According to him, the situation is analyzed on a daily basis and optimal solutions are developed. In particular, in January the target indicator of natural gas utilization was reached and there is a potential for its reduction.
“It is clear that the transfer of furnaces to natural gas is a forced decision, but this way we ensure the work of PC-1 and its independence from domestic resources, as there is no blast furnace gas, and coke is not enough due to small production volumes at KHP (coke oven division),” states Kravchenko.
And added that blast furnace production is currently idle due to a shortage of raw materials and blocked ports. In this case, the rolling mills are working on give-and-take raw materials, in particular, the first rolling campaign at PC-1 started on January 18, 2023.
DCH specializes in the production of steel, pig iron, rolled steel and products from them. On March 1, 2018, DCH Group signed an agreement to purchase Dneprovsky Metallurgical Plant from Evraz.
Sukhaya Balka mine is one of the leading mining companies in Ukraine. It mines iron ore using the underground method. The mine includes the Yubileynaya and Frunze shafts. Frunze.
DCH Group acquired the mine from Evraz Group in May 2017.

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Ukraine in 2022 reduced export of agricultural products to Russia by 15 times – UAE

The export of agro-processing products from Ukraine to Russia in 2022 decreased by 15.3 times in comparison with 2021 – down to $ 3 million from $ 46 million, while the supply of similar products to Belarus decreased by 7.5 times, to $ 69 million from $ 520 million.
According to the website of the Ukrainian Agrarian Export Association (UAAE), Ukrainian exporting companies are no longer planning to supply food products to the Belarusian and Russian markets, given the military aggression of Russia against Ukraine and the successful reorientation of its export to the European Union.
According to UAAE, in particular, the export of cocoa paste to Russia stopped in 2022, although in 2021, Russia was its largest buyer with the share of 60% of Ukrainian imports of these products and the volume of $20 million.
Ukraine also stopped supplying ice cream to Russia last year, although in 2021 it was the 3rd largest exporter of this Ukrainian product after Moldova and Israel. In 2022 Germany was added to its main markets instead.
Also in 2022, deliveries to Belarus, in particular the Ukrainian bakery confectionery decreased by 8.5 times – down to $ 2 million, whereas in 2021 it was the 3rd largest importer in this segment with an indicator of $ 17 million. Similarly, the supply of Ukrainian frozen beef – to $0.3 million in 2022 against $ 13 million a year earlier, and canned fruit products – by 6.7 times, to $1.5 million from $10 million.
According to the association, if in 2021, Belarus was the main importer of Ukrainian potatoes with the share of exports at 80% by $3 million, in 2022, it took the second place with 23% and $1 million respectively (a 3-fold decrease). Also, the supply of Ukrainian tomatoes, onions, cabbage, carrots, where in 2021, Belarus was among the top destinations for the purchase of these commodities, has decreased significantly or ceased. In addition, last year the Republic of Belarus from the position of the leader of importers of cooked unfrozen vegetables from Ukraine, where it took first place in 2021, “displaced” Moldova, Georgia and Hungary.
“With actually unchanged rates of export of jams, jellies and marmalades in 2022, their main buyers were Poland, Moldova and the Czech Republic (in 2021 – Poland, Belarus, Israel),” the association stressed in the report.
UAEA specified that in the segment of frozen vegetables last year Ukraine generally increased the volume of exports, while its geographical structure changed compared to 2021: Germany moved up to the second position instead of Belarus, which was ousted from the top three, and Turkey took the honourable “bronze”. Poland remained the leader here, as it was the year before last.
“The reciprocal embargoes with Russia, imposed since 2016, significantly reduced mutual trade even earlier. In particular, exports of frozen beef, fresh and processed vegetables, and confectionery products to Belarus dropped significantly. Last year, supplies of cocoa paste and ice cream to the Russian market were also reduced to zero,” the organization summarized in its report.

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Insurance company “Euroins Ukraine” has reduced collection of premiums in 2022

Insurance company “Euroins Ukraine” (Kiev), a subsidiary of international insurance group Euroins Insurance Group (EIG), in 2022 collected 469.1 million premiums, which is 20% less than in 2021, according to a press release.
The largest shares in the company’s portfolio were MTPL (61%), hull insurance (12%) and voluntary medical insurance (11%). The volumes of premiums grew in the segments of MTPL (+8% compared to 2021), accident insurance (+27%) and insurance against financial risks (+26%).
It is noted that the insurer fully complies with the requirements of the market regulator, has high financial stability and meets all obligations to clients.
The company also reports that last year the company paid out UAH 187,5 mln of insurance compensation, which is 12% less than in 2021. The biggest number of payments is in MTPL segment (117,7 mln UAH, +13% vs. the amount paid in 2021). On average, the company made payments to clients in the amount of more than 700 thousand hryvnias daily.
“This year was very difficult, but we have maintained high financial stability, fulfilled our obligations to the clients and partners and met the strict requirements of the market regulator. This is the main result of our work, which the team fulfilled with the full support of European shareholders. The growth of premiums in CMTPL insurance gives hope to maintain the volume of business in 2023. The decrease in charges in CASCO, VMI, property insurance, travel insurance was inevitable for the whole insurance market”, – notes the chairman of the board of IC “Euroins Ukraine” Janko Nikolov.
IC “Evroins Ukraine” – a universal non-life insurer, works in the Ukrainian market since 1992. The company has about 100 representative offices throughout the country, has 25 licenses, 16 of them – on voluntary and 9 – on compulsory types of insurance.
IC Euroins Ukraine is a member of the Motor (transport) Insurance Bureau of Ukraine, actively working in the segments of car insurance, medical insurance, property insurance, liability and cargo insurance for private and corporate clients. Since the beginning of 2021 Euroins Ukraine is a member of National Association of Insurers of Ukraine (NASU).

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Sukhaya Balka mine to increase iron ore production and shipments by 30%

Sukhaya Balka mine (Krivoy Rog, Dnipropetrovsk region), which belongs to Alexander Yaroslavskyy DCH group, is going to increase production of iron ore and shipment of products by 30%, for which it switches to a three-shift from two-shift work mode.
According to the corporate newspaper DCH Steel, the company was forced to switch to a two-shift operation since April 2022 because of the war, destruction of supply chains and decreasing demand for the products.
At the same time, since last July the working week was 4 days, and since October – 3 days. In December, due to a significant decrease in electricity consumption and sales of commercial products it was decided to suspend the technological process at the Frunze mine. Frunze mine.
According to Igor Piltek, chief engineer of the mine, now there is a positive trend in sales of commercial products, so it was decided to increase production volumes by 30%.
“Since the beginning of the month the employees involved in the main technological processes have been restored to work in three shifts of seven working hours,” the director of human resources and social issues of the enterprise, Ivan Maly, was quoted by the newspaper as saying.
Sukhaya Balka is one of the leading mining companies in Ukraine. It mines iron ore using the underground method. The mine includes the Yubileynaya and Frunze mines. Frunze. DCH Group acquired the mine from Evraz Group in May 2017.

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