Business news from Ukraine

Business news from Ukraine

TAS Insurance Group increased payments by one and half times in February

In February 2024, TAS Insurance Group (Kyiv) paid UAH 148.73 million under the concluded insurance contracts, which is 55.2% more than the company’s claims in February last year.

According to the insurer’s website, 31.99%, or UAH 47.58 million, was accounted for by motor hull insurance, which is 31.3% more than in the same period in 2023, 35.57%, or UAH 52.9 million, by MTPL, which is 49.5% more.

Payments under the Green Card increased by 79.9% to UAH 20.45 million, which is equal to 13.75% of the total amount of payments made by the insurer for the month.

At the same time, the company paid UAH 22.65 million under voluntary health insurance contracts in February, which is 15.23% of the company’s total payments for the month and 2.21 times higher than the corresponding figure for the same period in 2023.

Last month, TAS Group paid UAH 1.02 million under the concluded property insurance contracts. The volume of payments made by the insurer under other insurance contracts in the reporting period amounted to UAH 4.13 million.

TAS IG was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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Ukraine reduced imports of lead and tin in January-February, but increased purchases of zinc

According to customs statistics released by the State Customs Service of Ukraine on Wednesday, Ukraine reduced imports of lead and lead products by 30.9% to $141 thousand (in February – $7 thousand), imports of tin and tin products by 5.8% to $507 thousand (in February – $247 thousand), and increased imports of zinc and zinc products by 55.6% to $6,406 (in February – $2,312 million).

Exports of lead and lead products decreased by 41.8% to $1.758 million (in February – $885 thousand), nickel and nickel products amounted to $50 thousand (in February – $47 thousand), while in January-February 2023 it was $92 thousand.

Zinc exports for the two months of this year amounted to $19 thousand (in February – $11 thousand), while in January-February 2023 it was $24 thousand. Exports of tin and products amounted to $24 thousand (in February – $24 thousand, in January there were no exports) against $18 thousand in the same period a year earlier.

At the same time, Ukraine reduced imports of lead and lead products by 65.2% to $989 thousand, imports of tin and tin products by 23% to $2.728 million, but increased imports of zinc and zinc products by 18.8% to $45.966 million.

In 2023, the company exported $130 thousand worth of zinc, compared to $1.331 million in 2022. Exports of tin and tin products amounted to $159 thousand against $424 thousand in 2022.

Imports of tin and tin products fell by 33.5% to $3.312 million, while imports of zinc and zinc products decreased by 58.7% to $38.690 million. Zinc exports in 2022 amounted to $1.331 million, while in 2021 they amounted to $550 thousand. Exports of tin and tin products in 2022 amounted to $424 thousand against $346 thousand in the previous year.

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Netherlands allocates 150 mln euros to purchase ammunition for Ukrainian F-16s

The Netherlands is allocating more than 150 million euros for the purchase of air-to-ground ammunition for Ukrainian F-16 aircraft and more than 200 million euros for the purchase of drones.

According to the Dutch Ministry of Defense, the ammunition will be purchased directly from the industry. Defense Minister Keesa Ollongren announced this after yesterday’s meeting of the Contact Group on Ukraine’s Defense.

In addition, the Netherlands is sending (out of the previously promised) F-16 fighter jets to Romania. The planes will be used in a training center for Ukrainian and Romanian pilots. This includes not only the aircraft themselves, but also all related spare parts and ammunition.

The Netherlands leads the Ramstein Air Force coalition along with Denmark and the United States. 18 Dutch F-16s have been made available for training in Romania. The remaining 24 Dutch F-16s are intended for delivery to Ukraine. Some of them are currently being prepared in coordination with coalition partners.

The Ministry of Defense also informed that the Netherlands is allocating more than 200 million euros for the purchase of drones. It is planned to purchase a significant number of ISR (Intelligence Surveillance Reconnaissance) drones and transfer them to Ukraine, which will be done in coordination with other partners and the Ukrainian armed forces.

“These drones are already in use and have proven themselves on the battlefield,” said Minister Ollongren.

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lifecell increased its net profit by 2.6 times

In 2023, Ukrainian mobile operator lifecell increased its net profit by 2.6 times compared to 2022, to UAH 2 billion 567.7 million.

According to the report of Turkcell’s parent company on its website on Wednesday, lifecell’s revenue increased by 24.4% last year to UAH 11 billion 712.1 million.

The operator’s EBITDA increased by 25.3% to UAH 6 billion 808.9 million, while the EBITDA margin grew by only 0.3 percentage points to 58.1%.

The operator’s capital expenditures in 2023 increased by 39.9% to UAH 4 billion 207.1 million.

According to the report, lifecell’s active subscriber base reached 11.7 million in the fourth quarter, up from 11.4 million in the third quarter and 10.2 million a year earlier.

As reported, in the first nine months of 2023, lifecell’s revenue increased by 26% to UAH 8 billion 571.8 million, EBITDA by 26.1% to UAH 4 billion 968.9 million, and net profit by 2.9 times to UAH 1 billion 68.6 million. The company also increased its capital investments by 51% to UAH 3 billion 035.7 million.

Lifecell is the third largest mobile operator in Ukraine. Turkcell owns 100% of the shares in Lifecell LLC.

Lifecell’s revenue in 2023 amounted to 75.9% of Turkcell International’s revenue and 8.4% of Turkcell’s total revenue. The Ukrainian operator accounted for 10.6% of consolidated EBITDA and 7.4% of consolidated profit of Turkcell.

On December 29, 2023, Turkcell signed an agreement to transfer 100% of the shares, as well as all rights and debts of Lifecell LLC (TM lifecell), as well as the contact center outsourcing company Global Bilgi LLC and the tower rental service provider Ukrtower LLC to the French investment company NJJ Capital. In the last report, the operations in Ukraine are listed in discontinued operations. However, the deal has been stalled due to the lack of approval from the Antimonopoly Committee of Ukraine and the arrest of some Ukrainian companies in the case against Russian businessman Mikhail Fridman, who is an indirect minority shareholder of Turkcell.

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Quotes of interbank currency market of Ukraine (UAH for 1 PLN, in 01.12.2023-31.12.2023)

Quotes of interbank currency market of Ukraine (UAH for 1 PLN, in 01.12.2023-31.12.2023)

Source: Open4Business.com.ua and experts.news

Indonesia has elected a new president

Indonesia has completed the counting of votes in the presidential election, which resulted in the election of Defense Minister Prabowo Subianto as the new head of state, The Jakarta Post reported on Wednesday, citing data from the election commission.

Subianto has 58.6 percent of the vote – enough for the candidate to be declared the winner of the election without a runoff. His rivals, former Jakarta governor Anis Baswedan, have 24.9% and Ganjar Pranowo has 16.5%.

General elections in Indonesia were held back on February 14. The counting of votes and publication of results in the country takes up to 35 days.

According to the Indonesian constitution, the presidency is limited to two terms.
Earlier the analytical center Experts Club included the elections in Indonesia in the list of the top 10 most significant for the world, more video about it is available at the link – https://youtu.be/73DB0GbJy4M?si=5s1DXFwl0AkoYtfG.

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