The National Bank of Ukraine (NBU) in the period from June 24 to June 27 bought $44 million in the interbank foreign exchange market, which is 8.6% more than a week earlier ($40.5 million).
According to the website of the central bank, $20 million was acquired at the best purchase and sale price (using the matching instrument), $24 million at a single rate (using the matching instrument).
In June, the National Bank bought $322.3 million compared with $203.6 million in May and $299.9 million in April.
In general, since the beginning of this year, the NBU bought $1.639 billion in the interbank market and sold $231.43 million.
National bank of ukraine’s official rates as of 02/07/19
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of july 2
One troy ounce=31.10 grams
The Grand Chamber of the Supreme Court of Ukraine has sent the dispute over the Corvalolum well-known brand to the court of lowest instance for repeated hearing and partially satisfied cassation claims of the Economic Development and Trade Ministry of Ukraine and PJSC Farmak, annulling the ruling of the appeal court and the ruling of the court of lower instance.
Earlier, the Kyiv business court of appeals under the counterclaim of PrJSC Darnitsa Pharmaceutical Firm revoked the decision of the Appeals Chamber of the Ministry of Economic Development and Trade recognizing the designation Corvalolum as well-known.
“PJSC Farmak stands for civilized competition and for many years it has been defending its rights to the Corvalolum well-known brand. We defend our right only to the brand designation,” Farmak Legal Director Dmytro Taranchuk said.
He said that “the medicine itself and its components are not protected by a patent, and it is not protected in Ukraine from the point of view of intellectual property.”
“A similar medicine can be produced by any manufacturer who will prove its quality and effectiveness and undergo all the required licensing procedures. But under a different name, under its own brand,” the lawyer said.
AXA Insurance and AXA Life Insurance (both based in Kyiv) from July 1, 2019 changed their names to ARX and ARX Life, the insurance companies said in a press release.
“ARX in Latin means “fortress, castle, citadel.” The name sounds succinctly in the spirit of modern trends and reflects the main attribute of the insurance business – reliability,” the press service said.
ARX insurance company and ARX Life insurance company are the assignee of AXA Insurance and AXA Life Insurance. The companies continue working with all banks, car dealers, partners in a regional network, corporate clients, as well as with assisting companies and contractors.
The main shareholder of ARX is the Canadian holding Fairfax Limited.
According to the press release, Andriy Peretiazhko is chairman of the company’s board, Maksym Mezhebitsky is his first deputy, Viacheslav Havrylenko is deputy board chairman and since June 12 he is Director General of ARX Life.
EXPO Insurance (Kyiv) in January-March 2019 collected UAH 7.021 million in net premiums, which is 42.86% more than a year ago, Standard-Rating has said in a document affirming the national credit rating of the company at “uaAA.”
According to the agency, in the first quarter of 2019, the company made UAH 24.078 million of insurance payments in claims, which is almost 30 times higher than the same indicator for the first quarter of 2018.
The level of payments amounted to 592.84%. Such a high rate of payments, the agency said, is associated with the specifics of the insurer’s activity in insuring major risks, in particular, aviation insurance for civil aviation.
In January-March 2019, the volume of gross premiums collected by the insurer amounted to more than UAH 4.062 million, which is 22.35% less compared to the same period last year. Income from individuals decreased 8%, to UAH 1.191 million, from reinsurers increased 74.22%, to UAH 252,000. Insurance payments sent to reinsurers in the first quarter amounted to UAH 2.959 million, and premiums earned increased 44.35%, to UAH 5.807 million.
Despite the negative financial result from operating activities, the company ended the first three months of the year with profit of UAH 381,000.
As of March 31, EXPO Insurance assets decreased 32.39%, to UAH 75.494 million, net worth increased 1.19%, to UAH 32.224 million, liabilities decreased 45.79%, to UAH 43.270 million, and liquid assets 8.91%, to UAH 11.659 million.
At the same time, Standard-Rating said that at the beginning of the second quarter of 2019, the company had a good level of capitalization (74.47%): 26.94% of its liabilities were covered by liquid assets in the form of cash and cash equivalents.
