Indonesia’s parliament has approved a draft law to create the Danantara sovereign fund, the Jakarta Globe reported.
Danantara’s main tasks will be to consolidate the management of state-owned enterprises and deal with their investments and dividends, and the passed law will allow it to raise start-up capital of at least 1 quadrillion Indonesian rupiah ($61.3 billion).
Authorities have signaled that the fund’s portfolio will be based on seven large state-owned enterprises from the banking (Bank Mandiri, Bank BRI, Bank BNI), mining, energy (Pertamina, PLN) and telecommunications (Telkom Indonesia) sectors.
Danantara will manage approximately $600 billion in assets, including from the existing sovereign fund Indonesia Investment Authority (INA). The figure is expected to grow to $982 billion over time, making Danantara the world’s fourth-largest sovereign fund after structures in Norway, the UAE and China.
The finance ministry-controlled INA is expected to be integrated into Danantara, which will report directly to the president. INA was formed in 2020 to manage $10.5 billion in assets and capital, but began operations the following year. Danantara was originally scheduled to launch in November 2024.
In 2024, Guardian Insurance Company paid out UAH 509.2 million in indemnities, which is 29.4% more than in 2023, according to the insurer’s website.
It is noted that hull insurance payments increased by 81% to UAH 37 million, while premiums for this type of insurance increased by 58% to UAH 76.2 million.
The company also reports that in 2024, reimbursements under the international Green Card insurance policy increased by 35% to UAH 286.5 million, while premiums amounted to UAH 371.8 million.
Claims under the MTPL insurance policy increased by 15% to UAH 182.4 million last year, with premiums collected amounting to UAH 401.6 million (+10%).
The company allocated UAH 0.5 million (+80%) for medical expenses, while premiums collected amounted to UAH 77.2 million (+28%).
Accident insurance premiums amounted to UAH 27.8 million (+5%).
The amount of payments from customers who chose Guardian Insurance Company in 2024 amounted to UAH 1.06 billion.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020, it has acquired the status of a full member of the MTIBU and has the right to sell Green Card policies.
In October 2020, by the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the pool.
In 2025, Nestlé intends to invest UAH 8 billion in commercial activities in Ukraine, in particular, in the promotion of goods in retail chains, as well as UAH 1.5 billion in the modernization of factories to improve products, said Alessandro Zanelli, CEO of the company in Ukraine and South-Eastern Europe.
“The consumer goods category will continue to grow until 2025. But in 2025, everyone will feel a lot of pressure on margins. You can’t put everything on consumers alone, because inflation is already high in the country. We will have to work hard to create the right narrative about our business model,” he said at the ‘Global Outlook Enduring Change!’ organized by the European Business Association.
Zanelli advised entrepreneurs to identify the driving forces of their business, understand what creates consumer power and work to improve efficiency.
Speaking about Nestlé in Ukraine, he noted that the company intends to increase its presence in Ukraine in 2025, for which it plans to invest about UAH 8 billion in commercial activities, in particular, in the promotion of consumer goods in retail chains. In addition, about UAH 1.5 billion will be invested in improving the condition of the company’s plants.
The CEO of Nestlé in Ukraine added that the company has been delaying the launch of a new plant in Volyn region for six months due to constant air hazards, lack of builders and labor, but intends to launch in March 2025.
Nestlé’s business in Ukraine is represented by the following areas: coffee and beverages, confectionery, cooking (cold sauces, condiments, soups, convenience foods), baby and specialty foods, breakfast cereals, and pet food.
The Supervisory Board of NPC Ukrenergo has announced a competition for the position of the company’s Chairman of the Board, the company said.
“Korn Ferry, one of the best global consulting companies in the search for top managers and leadership development, will accompany the competition,” the company said in a statement on Telegram on Wednesday.
According to the terms of the competition, applications are accepted until March 14, 2025.
To participate, applicants must provide a package of documents in Ukrainian and English, which must include a resume, two written letters of recommendation, a motivation letter, and consent to the processing of personal data.
According to the terms of the competition, in order to meet the shareholder’s expectations, the chairman of the board must have the following priorities and strategic goals for the period of war: to ensure the protection of critical elements of the power system and the rapid restoration of damaged power facilities; support the development of distributed generation; create a reserve of critical equipment and ensure its safe storage; restore financial stability and the trust of international financial partners, as well as increase the network capacity by
In addition, he should create the preconditions for the post-war development of the company by achieving a number of goals, including: developing a long-term corporate strategy for Ukrenergo, taking into account the expectations of shareholders; managing the restoration and modernization of the energy infrastructure, including in-depth digitalization of the grid and support for market-based decarbonization of the power system. The Chairman of the Board, in particular, should ensure: energy sustainability and strengthen the security of the grid, in particular through modern technical solutions, development of IT systems and organizational capacity of the NPC; organize effective work with stakeholders to improve the regulatory framework and energy diplomacy with ENTSO-E partner countries.
The Chairman of the Board should also ensure financial stability by optimizing costs and increasing business efficiency, enhancing access to capital markets and expanding cooperation with international financial organizations.
The U.S. Postal Service is suspending the acceptance of parcels from China and Hong Kong until further notice, U.S. media reported.
A statement on the USPS website said it would not affect letters and regular mail from China and Hong Kong.
The reason for this decision is not specified.
However, media outlets emphasize that this comes after US President Donald Trump revoked the “de minimis” rule for China, which allowed small parcels worth less than $800 to enter the US duty-free.
The rule was repealed as part of the introduction of a 10% duty on goods from China and Hong Kong.
As the media noted, the new rule could affect e-commerce sites such as Shein and Temu.
InVenture reports on the sale of Raikivskyi granite quarry1 and crushed stone plant. The portal writes that the business operates stably and permanently, is equipped with high-quality machinery and equipment, and the well-coordinated work of the team ensures quality and uninterrupted operation. The company used the facility for its own construction needs.
Location: Zhytomyr region, Berdychiv district, the village of Rayky.
Raiky crushed stone plant is located 40 minutes from the regional center, Zhytomyr. It has a convenient infrastructure, making it easy to transport materials. A railway station is located nearby, which significantly expands the routes and volumes of raw materials supply. There are also access roads – an asphalt and a gravel road.
Raikivskyi Granite Quarry LLC extracts granite at the Raikivske deposit (site No. 2) on the basis of a special subsoil use permit No. 5856 (valid until 2033, not suspended).
The neighboring site “Quarry No. 1” Raikivske field was previously developed by the State Enterprise of the State Criminal Executive Service of Ukraine (SECSU) No. 73 (special permit No. 4074 has been terminated).
The total area of the facility is 4.5280 hectares, and the approved reserve of raw materials for extraction is more than 10 million tons, with approximately 10 million tons of unconfirmed reserves.
The company has a license for official mining and processing of rock mass.
Its main products are crushed stone, rubble stone, and crushed stone and sand mixture.
The quarry has its own fleet of vehicles used for the extraction and transportation of raw materials. There are such special vehicles as MAN, MAZ, KAMAZ, DAF, SCHMITZ.
There are special rooms for changing personnel, a room for electrical equipment and a control panel, and a security room.
The entire territory of the facility is guarded and video surveillance is carried out throughout the quarry.
The plant has all the equipment necessary for the extraction of raw materials, crushing them into fractions, transportation and weighing, such as
Staff: 30 employees
Fractions: 0.05-20 mm, 0.05-40 mm (C-7), 0.05-70 mm (C-5).
