Business news from Ukraine

Business news from Ukraine

TAS Insurance Group increased premium collection by 30.6% in January

In January 2024, TAS Insurance Group attracted UAH 357.76 million in insurance premiums, which is 30.6% more than the amount of payments collected by the company during the first month of last year.

According to the company’s website, motor hull insurance premiums amounted to 15.19% of the total, or UAH 54.34 million, which is 16.4% higher than in January 2023, motor third party liability insurance premiums – 26.96%, or UAH 96.47 million (+32.3%), Green Card premiums – 25.82%, or UAH 92.3 million (+70.6%), and voluntary health insurance premiums – 21.54%, or UAH 77.07 million (+5.6%).

At the same time, UAH 10.46 million of premiums were collected under property insurance contracts, which is 54.9% more than in January last year.

Under other insurance contracts, TAS IG collected UAH 27.04 million of insurance premiums in the reporting period.

TAS Insurance Group 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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UK to provide Ukraine with 200 more Brimstone anti-tank missiles

The United Kingdom will send 200 more Brimstone anti-tank missiles to Ukraine and train 10,000 more Ukrainian soldiers, British Defense Secretary Grant Shapps said in parliament.

“Today I am able to announce a new package of 200 Brimstone anti-tank missiles, which will provide an additional boost to the defense of Ukraine. These missiles have already had a significant impact on the fighting, in one case forcing Russian troops to abandon a river crossing attempt and retreat,” The Guardian quoted Shapps as saying on Thursday.

PA Media also reports, citing the minister, that the UK will train the Ukrainian military together with other allies.

“Together, we will train another 10,000 people in the first half of 2024,” the UK Defense Secretary said.

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Nova Poshta intends to acquire Lviv-based Nova Development

Nova Poshta LLC, Ukraine’s largest logistics operator from the NOVA group, intends to acquire Nova Development LLC (Sokilnyky village, Lviv district, Lviv region), whose main activity is the lease and operation of its own or leased real estate.

According to the Antimonopoly Committee of Ukraine (AMCU), it granted Nova Poshta permission on Thursday to acquire a stake that ensures exceeding 50% of the votes in Nova Development.

The state register states that Nova Development, registered at the end of May 2023, is the legal successor of Best Logistics Group, which was engaged in the construction and leasing of logistics complexes and was part of the Globus full-cycle development holding.

“Best Logistics Group has already cooperated with Nova Poshta during the construction of a sorting terminal in Lviv in 2019, with investments of almost EUR 10 million, with Nova Poshta’s investment of about EUR 4 million. According to Vyacheslav Klimov, co-founder of NOVA Group, Nova Poshta was responsible for the equipment, while Best Logistics Group was responsible for the construction of the building.

The Globus website states that its portfolio includes more than 10 projects at various stages of implementation with a total area of 220 thousand square meters, which are being developed together with partners. These include premium and comfort class residential buildings, logistics terminals, business centers, hotels, and mixed-use complexes, while the area of already implemented projects is 96 thousand square meters. It is also noted that the group is a strategic partner of Nova Poshta and has its own production base in the form of two concrete plants.

The authorized capital of Nova Development, according to the state register, is UAH 186.4 million, while that of Best Logistics Group was UAH 1 million. Volodymyr Fenik is listed as the beneficiary through the corporate venture investment fund Magistrate Invest.

In 2022, Best Logistics Group’s revenue amounted to UAH 46.87 million, up from UAH 36.62 million a year earlier, and its net loss increased to UAH 12.33 million from UAH 3.58 million.

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Import of goods in Jan-Oct 2023 in most important positions to previous 2022

Import of goods in Jan-Oct 2023 in most important positions to previous 2022

Source: Open4Business.com.ua and experts.news

Andrzej Duda: Blocking border with Ukraine is not decision of Polish authorities, but of Polish farmers

Polish President Andrzej Duda said that blocking the border with Ukraine is not a decision of the Polish authorities, but of farmers, in turn the government is trying to solve the problem.

“Blocking the border is not a decision of the Polish authorities, it is just a decision made by farmers and farmers’ organizations,” Duda said on the air of the national telethon.

The Polish president hopes that the issue with farmers can be resolved through negotiations.

At the same time, Duda noted that after the Polish authorities opened grain corridors for the transit of Ukrainian grain, the amount of agricultural products transported through Poland from Ukraine increased 300 times.

The interview was recorded before February 20, when Polish striking farmers near the Medika-Szehyni checkpoint opened a cargo container with agricultural products and dumped them on the ground.

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Japan is interested in supporting Ukraine’s agricultural sector and training veterans

Japanese partners have confirmed their interest in projects to support Ukraine’s agricultural sector and train veterans, and the respective teams of the two countries are working together to find ways to implement these intentions, said Vitaliy Koval, chairman of the State Property Fund, following the visit of a Ukrainian delegation led by Prime Minister Denys Shmyhal to the Conference on Economic Development and Reconstruction in Tokyo.

According to a release from the Fund, its head spoke about the key areas of the agency’s work, investment proposals for Japanese business, and new projects of the SPFU team – work with sanctioned property and the Land Bank, which is scheduled to be launched at the end of this year.

Regarding the latter project, the head of the Fund had a separate meeting with representatives of the Ministry of Agriculture, Forestry and Fisheries of Japan, as the SPFU manages 386 thousand hectares of agricultural land, which should work for the Ukrainian economy and bring profit to the state budget.

According to Koval, the meeting discussed attracting Japanese investors to the Ukrainian agricultural sector, in particular, the use of their equipment, as the need of Ukrainian farmers for mechanized machinery with a capacity of up to 200 hp is very high, and the world leaders in the production of such equipment are concentrated in Japan.

“Ukragroleasing can become their partner here. The company is managed by the SPFU and can help with leasing equipment,” said the head of the Fund.

He also called on foreign partners to pay attention to one of the most important areas of work for the whole country – retraining and training of veterans, which is the management and maintenance of agricultural machinery.

Koval said that the State Property Fund has the capabilities to assist in training: it can be conducted at the SPFU’s training centers, and such facilities will become training centers for operators and service engineers for Japanese agricultural machinery.

As reported, during the visit, the Ukrainian delegation signed 56 documents related to cooperation in many sectors of the economy of the two countries.

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