Business news from Ukraine

Business news from Ukraine

REITER HALL by NEST developer received outstanding award

The REITER HALL project by NEST developer was awarded in the category “Historic Environment Renovation Project” at the UKRAINIAN SPECIAL BUILDING AWARDS IBUILD 2023.

IBUILD is the main construction award in Ukraine, which recognizes the best representatives of the construction industry – companies that have survived in the market, support the economy and contribute to the reconstruction.

This award is a recognition of the company’s philosophy, as NEST cares about the history of Kyiv and contributes to its preservation. NEST developer builds professionally and responsibly today, and creates real estate that will become a real landmark of the city in the future.

REITER HALL will become the future center of the city, where the past meets the future, creating a unique cultural space for the development of the boldest ideas of many generations of Kyiv residents.

Special attention was paid to the idea of REITER HALL, where, in addition to Ukrainian architects, a well-known Swedish architectural firm worked, because Sweden is rightly called one of the models of modern city planning – streets, public spaces and architecture. They like to turn such objects into comfortable spaces for their contemporaries. And medieval castles harmoniously coexist alongside masterpieces of modern architecture.

Another similar project of the developer is the HILLFORT Business Mansion, which also received a valuable award on December 11, 2019, and won the “Discovery of the Year” category in the “Best Historic Environment Renovation Project” nomination.

Each object of the NEST developer is valuable both now and in the future, as it is an architectural art.

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Negative balance of Ukraine’s foreign trade in goods in January-October 2023 increased by 3 times

The negative balance of Ukraine’s foreign trade in goods in January-October 2023 increased 3 times compared to the same period of 2022 – to $22.363 billion from $7.108 billion, the State Statistics Service (Gosstat) reported.

According to its data, exports of goods from Ukraine for the period compared to January-October 2022 decreased by 19% to $29.827 billion, while imports increased by 18.8% to $52.19 billion.

The State Statistics Committee specified that in October-2023 compared to September-2023, seasonally adjusted exports decreased by 4.8% to $2.475 billion, while imports decreased by 1.6% to $5.251 billion.

The seasonally adjusted foreign trade balance in October-2023, as in the previous month, was negative at $2.776 billion compared to $2.736 billion before.

The export-import coverage ratio in January-October 2023 was 0.57 (0.84 in January-October 2022).

State Statistics specified that foreign trade operations were conducted with partners from 228 countries. Earlier, the analytical center Experts Club presented an analysis of macroeconomics of Ukraine and the world. For more details on the situation in the Ukrainian and world economy, see the video on the YouTube channel “Experts Club” at the link:

Subscribe to the channel here: https://www.youtube.com/@ExpertsClub

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IC “Express Insurance” increased payments by almost 60%, number of contracts – by 91.5%

In January-November 2023, Express Insurance (Kyiv) collected insurance premiums worth UAH 652 million, which is 59.8% more than in the same period a year earlier, according to the company’s website.

The number of concluded contracts increased by 91.5% compared to January-November 2022 and by 26.2% compared to the same period in 2021, before the full-scale invasion.

Payments for hull insurance for 11 months amounted to UAH 563 million, which is 54.5% more compared to January-November 2022, for VHI – UAH 9.7 million (+42.8%), for other types of insurance – UAH 7 million (+32.5%).

The company reports that in November 2023, it attracted UAH 73.5 million in payments, which is almost 40% more than in November last year.

As reported, for 11 months of 2023, the company paid insurance claims in the amount of UAH 297.9 million, which is 43.9% more than in the same period a year earlier. Motor hull insurance payments amounted to UAH 258.7 million, which is 40.1% more than in the first 11 months of 2023, MTPL – UAH 28.7 million (+53.6%), VHI – UAH 6.1 million (+169%).

Payments on other types of insurance amounted to UAH 4.4 million (+124%).

Express Insurance ALC was founded in 2008 with the participation of UkrAVTO Corporation. Since April 2012, it has been an associate member of the Motor Transport Insurance Bureau of Ukraine.

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Retail trade turnover in Ukraine increased by 11.6% – State Statistics Service

Ukraine’s retail trade turnover in January-September 2023 increased by 11.6% in comparable prices compared to the same period in 2022, the State Statistics Service (Ukrstat) reported.

According to the statistics agency, in September this year, retail turnover increased by 19.4% compared to September last year, which is less than in August, when it was 23.8%.

The State Statistics Service specifies that the turnover of retail trade enterprises (legal entities) in the first nine months of 2023 increased by 8.3% in comparative prices compared to the same period in 2022.

In particular, in September 2023, the growth was 14.9% compared to 19.3% in August.

According to the State Statistics Service, in nominal terms, Ukraine’s retail trade turnover amounted to UAH 1291.1 billion in January-September 2023, and retail trade enterprises’ turnover amounted to UAH 869.9 billion.

The State Statistics Service reminds that the data excludes the territories temporarily occupied by Russia and part of the territories where hostilities are (were) conducted.

As reported, in 2022, retail turnover in Ukraine fell by 21.4%.

Truck traffic on border of Ukraine and Slovakia is resuming

According to information received by Ukrainian border guards on the evening of December 14, representatives of Slovak carriers unblocked truck traffic entering Slovakia at the Vysne Nemecke checkpoint for an indefinite period of time, the State Border Guard Service of Ukraine reported on its Telegram channel.

“Since the end of the blockade, as of 09:00 on December 15, almost 60 trucks have been cleared to leave Ukraine through the Uzhhorod checkpoint, and another 1065 are in the electronic queue to leave Ukraine,” the statement said.

As reported, on December 11, Polish carriers ended the blockade in front of the Dorohusk-Yahodyn checkpoint.

The Union of Road Carriers of Slovakia (UNAS) blocked truck traffic through the only border checkpoint with Ukraine, Vysne Nemecke-Uzhhorod, from 15:00 on December 11.

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Ukraine cuts exports of semi-finished steel products in tons by 40%

In January-November this year, Ukraine reduced exports of carbon steel semi-finished products in physical terms by 39.5% year-on-year to 1 million 104,735 thousand tons.

According to statistics released by the State Customs Service (SCS), exports of carbon steel semi-finished products in monetary terms amounted to $562.108 million in the period (down 51%).

The main exports were made to Bulgaria (37.01% of supplies in monetary terms), Poland (23.19%) and Italy (9.89%).

In January-November, Ukraine imported 96 tons of semi-finished products from China (98.26%) and Turkey (1.74%) for $172 thousand, in September-November 2022, imports amounted to 5,558 thousand tons of such products.

As reported, in 2022, Ukraine decreased exports of carbon steel semi-finished products in physical terms by 72% compared to the previous year – to 1 million 899.729 thousand tons, and in monetary terms by 70.9% – to $1 billion 191.279 million. The main exports were made to Bulgaria (26.55% of supplies in monetary terms), Poland (13.97%) and Italy (12.13%).

In addition, Ukraine imported 5,558 thousand tons of similar products in 2022, which is 85.7% less than in 2021. In monetary terms, imports decreased by 86% to $3.634 million. Imports were carried out from the Russian Federation (96.92% of supplies before the war), China (1.84%), and Romania (1.21%).

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