Private joint-stock company Ingosstrakh (Dnipro) saw UAH 378.2 million of net profit in 2017 (some 5-fold rise year-over-year).
According to a financial report of the company posted in the information disclosure system of the National Commission for Securities and the Stock Market, last year Ingosstrakh collected net insurance premiums worth UAH 737.856 million, which is 41.5% less than a year ago. Some UAH 77.42 million was sent to reinsurance, which is 2.4 times more than a year ago and UAH 193.5 million of payments in claims were made (82.2% down).
Administrative costs were UAH 22 million, while a year ago they stood at UAH 6 million.
Ingosstrakh was registered in 2004. Its core business is provision of risk insurance services.
President of Ukraine Petro Poroshenko and President of the Arab Republic of Egypt Abdel Fattah el-Sisi have discussed issues of trade and economic cooperation during a telephone conversation. “The president of Egypt noted the friendly relations between the peoples of the two countries and stressed the Egyptian side’s readiness to expand trade and economic cooperation with our state. It was about the implementation of specific bilateral economic projects,” the presidential administration’s press service reported.
Poroshenko congratulated Abdel Fattah el-Sisi with a convincing victory in the presidential elections held in March 2018.
The Ukrainian president also noted the need to intensify the bilateral dialogue at all levels.
“The prospects for holding the next meeting of the Intergovernmental Joint Commission on Economic, Scientific and Technical Cooperation between Ukraine and Egypt were separately discussed,” the message reads.
Poroshenko invited el-Sisi to visit Ukraine.
National Nuclear Generating Company Energoatom expects the Cabinet of Ministers of Ukraine soon to approve documents for a tender to attract a partner in the project on the creation of the Ukraine-EU Energy Bridge, Energoatom’s press service has reported, referring to the company’s president, Yuriy Nedashkovsky. “We expect in the near future the approval by the Cabinet of Ministers of the tender documentation, which is needed to hold a tender to determine a private partner for the Ukraine-EU Energy Bridge project. One of the points of the documentation is the procedure for allowing Energoatom to access the interstate electricity market for 20 years, which will ensure unhindered exports of electricity,” the press service quoted Nedashkovsky as saying after a meeting with co-owner of Kulczyk Investments Dominika Kulczyk.
Kulczyk, in turn, assured Energoatom’s leadership that the energy bridge project is a priority for Kulczyk Investments.
Earlier reports, referring to the Ukrainian Energy and Coal Industry Ministry, said that Westinghouse Electric Sweden AB, Polenergia International S.àr.l. and EDF Trading Limited, a consortium of companies, planned to participate in the project to establish the Ukraine-EU Energy Bridge.
The Ukraine-EU Energy Bridge project envisages the organization of transmission from reactor two of Khmelnytsky NPP to the European power grid. The funds that will be received from exports of this electricity will be used to finance construction of reactors three and four of the NPP. The decision to implement a pilot project entitled “Ukraine-EU Energy Bridge” was made by the government in June 2015.
DOCUMENTS, ENERGOATOM, ENERGY BRIDGE PROJECT, TENDER UKRAINE-EU
There are no economic prerequisites or political grounds for the resignation of the current Cabinet of Ministers of Ukraine, and this is unacceptable one year before the presidential election, People’s Front Party leader Arseniy Yatsenyuk has said. “There will be no resignations of the Cabinet of Ministers. There are no economic prerequisites or political grounds for that. The issue of a report by the Cabinet of Ministers is raised exclusively for political motives, as it was raised when there was a political struggle against my Cabinet of Ministers,” Yatsenyuk told reporters on the sidelines of the 11th Kyiv Security Forum on Friday.
The politician noted that the People’s Front faction has no questions to the government as a whole or to its members delegated to the Cabinet of Ministers from this political party. According to him, People’s Front representatives in the government are coping with their duties, and if partners from the Bloc of Petro Poroshenko party consider it necessary to change some ministers, then this is their right, and there is a respective procedure for this.
Yatsenyuk stressed that the resignation of the government was unacceptable one year before the presidential elections. “There must be stability in the country, so that a fair, transparent presidential election is held, so that the course of reforms continues in the country, and so that there are no signs of political destabilization,” he added.
PRESIDENTIAL ELECTION, RESIGNATION, UKRAINIAN GOVERNMENT, UNACCEPTABLE
Ukrainian airlines, according to live data from the State Aviation Service, transported 2.1 million passengers in January-March 2018, which is 12.7% more than in the same period in 2017. According to a report on the agency’s website, international traffic grew by 12.5%, to 1.885 million people.
Passenger flows through the airports of Ukraine increased by 21.8% and amounted to 3.625 million people, in particular international traffic rose by 23% and amounted to 3.16 million passengers.
During January-March 2017 Ukrainian airlines serviced 19,300 commercial flights (3.2% up year-over-year), including 15,900 international flights (1.3% up).
Ukraine in January-March 2018 increased its own production of petroleum products by 12%, in the petrol segment Ukrainian oil refineries reached a leading position in the domestic market, according to a study conducted by the A-95 Consulting Group (Kyiv). “For the first time since 2015, Ukrainian producers became leaders in the petrol market: in the first quarter of 2018 they accounted for 45.3% of the market, while in the same period of 2017 it was 42%. The largest supplier of petrol, Belarus, by the end of the quarter had 40.8% of the market, while in 2017 it had 47% of the market and in 2016 – 54%,” the press service of the A-95 group said.
In general, according to the company experts, the production of petrol by Ukrainian refineries in the first three months of the year increased 3.5%, to 195,400 tonnes.
In turn, domestic production of diesel fuel for this period increased by 23.6%, to 178,100 tonnes. Thus, the share of domestic manufacturers in the diesel fuel market increased to 14.2% in the first quarter of 2018 from 13.2% in the first quarter of 2017.
In general, in 2017, Ukrainian producers occupied 13% of the diesel fuel market, in 2016 – 11%.
The main increase in production, according to the A-95 group, was provided by the Kremenchuk oil refinery (Ukrtatnafta), increasing the output of diesel fuel by 27%, to 155,100 tonnes, petrol – by 7.7%, to 169,000 tonnes. In turn, Shebelynka gas refinery (Ukrgazvydobuvannia) increased diesel fuel production by 5.5%, to about 23,000 tonnes, but reduced petrol output by 17%, to 26,300 tonnes. “This was caused by a situational switch to the release of more liquid export positions in conditions of overstocking of the domestic market with petrol and a protracted winter with a reduced consumption of motor fuels,” the A-95 group said.
The petrol market in the first quarter of this year continued to decline: in comparison with the same period last year, the volume of deliveries decreased by 4.1%, to 431,000 tonnes. “The main reason for the decline is the switch of car owners to liquefied gas: its supplies increased by 17.3%,” the press service said.
The market of diesel fuel in January-March 2018, according to experts, increased 14.7%, to 1.252 million tonnes. The largest supplier of diesel fuel to the Ukrainian market was Russia, providing 42% of the balance sheet, the share of Belarusian producers was 33%, other suppliers – 10.5%. According to the A-95 experts, Ukrainian producers have all the opportunities for further growth in the market.
A-95 CONSULTING GROUP, INNER PETROL MARKET, LEADER, OIL REFINERIES
