Private JSC “Insurance Guarantees of Ukraine” (“SGU” Kiev) in January-September 2024 collected UAH 1,33 mln of gross premiums, which is 34,4% less than a year earlier, follows from the information of the rating agency “Expert Rating” on confirmation of the insurer’s financial strength rating/credit rating on the national scale at the level “uaAA” following the results of work for 9 months. 2024.
It is noted that for the given period of 2024 the volume of insurance payments and indemnities made by the insurer has amounted to UAH 100 th, while for the same period a year earlier UAH 3 th.
It is also noted that shareholders’ equity of “SGU” as of September 30, 2024 has grown by 44,53% and has amounted to UAH 55,17 mln, due to the increase in the volume of retained earnings in its structure as a result of profitable activity in the period under review.
During the same period gross liabilities of the company have decreased by 95,35% to UAH 0,96 mln, the volume of cash and cash equivalents on “SGU” accounts has grown by 0,07% and has amounted to UAH 47,97 mln. The level of cash coverage of insurer liabilities has grown by 4769 p.p. to 50,02%.
At the same time RA notes that the operating profit of the insurer for the 9 months of 2024 has amounted to UAH 10,76 mln, and net profit – UAH 12,41 mln, while for the same period of 2023 the activity of “SGU” was unprofitable.
Private JSC “SGU” was registered in November, 2005. It has licenses for 15 types of insurance activities, including four for compulsory insurance, 11 for voluntary insurance.
The governments of Ukraine and Finland have signed a Framework Agreement under which Finland will mobilize up to EUR 50 million next year for projects financed under the Finnish-Ukrainian Investment Fund (FUIF) program, according to a press release from the Ministry of Finance.
“Under the agreement, loans of up to EUR 50 million are planned for 2025. Further implementation of the Program will involve the conclusion of relevant loan agreements to determine the amount, terms and conditions of loans,” the release said.
The agreement was signed on behalf of Ukraine by Finance Minister Sergii Marchenko, while the signatory on behalf of Finland was Minister of Foreign Trade and Development Ville Tavio.
It is specified that the grant component of the project will amount to at least 35% of the total cost, which will provide preferential financing terms.
In addition, the ministers discussed current development programs and support for Ukraine’s recovery with the assistance of Finland. Marchenko emphasized the importance of cooperation within the framework of the Ukrainian Donor Platform, whose steering committee Finland joined in April 2024 as an observer.
In his turn, Tavio emphasized that the most promising sectors for investment and recovery for the Finnish side are energy, education, infrastructure, digital technologies and agriculture.
The Ministry of Finance reminded that Finland’s direct budget support since February 2022 has amounted to more than $36 million in grant funding.
Ukraine has received a $1.35 billion grant from the United States, Prime Minister Denys Shmyhal said.
“The U.S. government has allocated funding through the U.S. Agency for International Development (USAID) and in coordination with the U.S. Treasury Department and the U.S. Department of State,” Shmyhal wrote on his Telegram channel.
According to him, the funds will be used for priority humanitarian and social programs.
“The funding raised is aimed at reimbursing priority social and humanitarian expenditures of the state budget, in particular, to ensure the payment of salaries to educators,” the press service of the Ministry of Finance said.
It is noted that the funds were transferred to the state budget of Ukraine through the World Bank’s Public Expenditure Support for Sustainable Governance in Ukraine (PEACE in Ukraine) project.
“Since February 2022, direct budget support from the United States has reached $28.2 billion. This is the largest financial assistance to Ukraine among all countries of the world (…),” said Finance Minister Sergii Marchenko.
The Ministry of Finance reminds that this year Ukraine expects $7.8 billion in budget support from the United States, of which $5.2 billion has already been mobilized.
In January-October 2024, Ukraine increased imports of nickel and products by 77.8% compared to the same period in 2023 to $22.109 million (in October – $2.891 million).
In addition, in 2023, Ukraine decreased imports of nickel and products by 74.2% compared to 2022, to $15.391 million.
Exports of nickel and products for ten months of 2024 amounted to $572 thousand (in October – $64 thousand), while in January-October 2023 it was $257 thousand.
In 2023, exports of nickel and nickel products amounted to $532 thousand, while in 2022 they amounted to $1.268 million.
Nickel is used to make stainless steel and for nickel plating. Nickel is also used in the production of batteries, in powder metallurgy, and in chemicals.
Ukrainian enterprises increased exports of ferrous scrap by 54.5% in January-October this year compared to the same period last year, up to 226,970 thousand tons from 146,927 thousand tons.
According to statistics released by the State Customs Service, 24.549 thousand tons of scrap were exported in October, 24.767 thousand tons in September, 28.425 thousand tons in August, and 24.425 thousand tons in July. tons, in July – 24,702 thousand tons, in June – 22,161 thousand tons, in May – 14,952 thousand tons, in April – 26,153 thousand tons, in March – 20,907 thousand tons, in February – 23,194 thousand tons, in January – 17,160 thousand tons.
In monetary terms, scrap exports increased by 70.7% to $71.862 million from $42.088 million.
In January-October, Ukraine exported scrap mainly to Poland (84.70%), Greece (11.53%) and Germany (3.40%).
For the first ten months of the year, the country imported 90 tons of scrap for $104 thousand, while in January-October 2023, 793 tons of scrap were imported for $301 thousand. Imports this year were carried out mainly from Turkey (68.27% in monetary terms), the British Virgin Islands (13.46%) and Panama (6.73%).
As reported, in 2023, Ukraine’s scrap collecting enterprise increased scrap exports from the country by 3.4 times compared to the previous year – up to 182,485 thousand tons from 53,557 thousand tons. In monetary terms, exports increased 2.74 times to $52.723 million from $19.271 million.
Earlier, Ukrmetallurgprom President Oleksandr Kalenkov stated in a column on the Interfax-Ukraine website that scrap is exported through the European Union, which has a preferential export duty of EUR3 per ton, and from there the raw materials are redirected to real customers. He noted that exporting raw materials directly to customers would cost EUR180 in export duties, and the Ukrainian budget has already lost UAH 350 million.
The head of Ukrmetallurgprom called for a temporary ban on the export of ferrous scrap to provide steelmakers with strategically important raw materials during the war. He also clarified that a ton of scrap metal processed into steel brings in 10 times more to the budget than the EU export duty, which is about $300 per ton.
In 2022, Ukraine reduced exports of ferrous scrap by 11.5 times compared to the previous year, to 53,557 thousand tons, and in monetary terms, it decreased by 12.4 times, to $19.271 million.
Ukraine’s SkyUp Airlines operated 44.7% more charter flights from April 1 to October 31, a period traditionally considered the summer demand season, than in the same period last year, its press service reported on LinkedIn on Wednesday.
According to SkyUp, the number of charter flights reached 10,129 thousand, carrying 1.52 million passengers.
Under ACMI contracts, the company worked with Wizz Air, HiSky, Arkia Israeli airlines, US-Bangla Airlines Ltd. and Israir Airlines.
Flights were operated to 49 countries.
SkyUp is developing new markets in Asia, Africa, and North America. At the same time, in the summer season of 2024, Egypt was the leader in the destinations (from April 1 to October 31, 1,526 charter flights were operated), Romania (1,445) and Moldova (923), the report says.
Earlier it was reported that in January-August, SkyUp operated 27% more charter flights than in the same period last year – 2.7 thousand.
SkyUp’s website reports that the airline is ready to engage eight medium-haul Boeing 737-800 and two medium-haul Boeing 737-700 aircraft, the average age of which is 14 years, for charter flights. It is also noted that the airline’s operations in 2018 began with a charter program. Then a regular program was launched, and until the outbreak of a full-scale war, the airline successfully developed on a hybrid model. SkyUp cooperated with the largest tour operators in Ukraine and operated year-round charter programs for them. The carrier’s strategic partner is the JoinUP brand!
The company is authorized by the European Aviation Safety Agency (EASA) to operate flights to the European Union and has the right to operate commercial flights to Saudi Arabia and the United Arab Emirates. In June 2022, SkyUp Airlines received an operating permit from Switzerland.
