Business news from Ukraine

Business news from Ukraine

Charity squash tournament “Zenit Ukraine Open 2023” to be held in Kyiv on August 19-20

The Ukrainian squash community is preparing for the biggest event of the year. On August 19-20, 2023, the charity squash tournament Zenit Ukraine Open 2023 will take place at the SPORT LIFE fitness center in Kyiv, 8 Samaila Kishky Street. The competition will last two days and will start at 09.00 on August 19.

This tournament is the most famous and largest international squash competition in the history of independent Ukraine. Its scale is evidenced not only by the number of participants and countries represented, but also by the large number of organizations that have joined the preparation and holding of the tournament.

The competition will be held in six categories: for men, these are categories A, B, C, D, and for women, A and B. Among the tournament participants are players from France, the United States, Moldova, Turkey and many Ukrainian cities: Kyiv, Lviv, Kherson, Kharkiv, Dnipro, Khmelnytskyi, Poltava, and Odesa.

The events will culminate in an award ceremony to be held on August 20 at 17.00 at the BRUGGE restaurant.

“Squash is actively gaining popularity in Ukraine even in this difficult time. And this is primarily the merit of our youth. Last year, 6 of our juniors entered the top 10 world squash rankings. This is an indicator that we are moving in the right direction. Such tournaments as the Zenit Ukraine Open only contribute to the popularization and development of this sport in Ukraine,” said Maxim Urakin, co-organizer of the tournament.

This approach is also supported by the President of the Ukrainian Squash Federation Dmytro Shcherbakov.

“The development of youth and junior squash is our future. But besides this, we have to take care of our present. The organization of such events demonstrates that despite all the hardships, Ukrainian sport, and squash in particular, continues to develop,” said Dmytro Shcherbakov.

Organizational support for the tournament is provided by:

The main fitness partner is the national network of fitness clubs “Sport Life”;

The main organizer is the NGO Squash Federation of Ukraine;

The main media partner is Interfax Ukraine;

The official sponsor of the tournament is Experts Club.

Participants and winners will receive a number of gifts from Sport Life, REIMA, and special partners: ADONIS, UKRSADVINPROM, KRAINA, VILLA TINTA, TERMOPUB, FAVOR Hotel, Tecnifibre and BRUGGE Restaurant.

The tournament will be held with a charitable mission to help the Armed Forces.

All supporters and fans of squash are invited to this great sporting event. We hope to see you at the championship and support our athletes together!

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Lviv Cardboard and Paper Company has increased its output by 21%

LLC “Cardboard and Paper Company” (Lviv), a major Ukrainian manufacturer of cardboard sleeves and sanitary products, in January-July 2023 increased its output by 21.2% to UAH 746.83 million compared to the same period of 2022.

According to the statistical data provided to Interfax-Ukraine by UkrPapir Association, in physical terms the company increased the output of cardboard products by 2.6% to 15.7 thousand tons, and of base paper for sanitary-hygienic products by 4.1% to 4.3 thousand tons. The output of toilet paper in rolls increased by 42% to 3.3 million pieces.

At the same time in July the company increased the output of paper and cardboard by 4.3% compared to the same month last year – up to 3.3 thousand tons, which is also 30% more than in June this year.

“Cardboard and Paper Company” produces products and semi-finished products from waste paperboard (cardboard sheets, corners, sleeves), pulp and recycled waste paper (toilet paper, towels, napkins TM Papero). The company supplies its products to EU countries, among others.

Among its customers are Biosphere, Arterium, Nestle, Hlebprom, and Yarich.

As reported, in 2022, the factory, without suspending work during the year, increased the volume of marketable products by 51.5% compared to 2021 – up to 1 billion 186 million UAH. Net profit tripled to UAH 263.7 mln.

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Ukrgasbank’s net profit amounted to UAH 2.9 bln

The profit of the state-owned Ukrgasbank in January-July 223 amounted to UAH 2.9 billion, while the bank ended the same period in 2022 with a net loss of UAH 3.5 billion, according to the financial institution’s website.

According to the release, the bank’s assets as of August 1, 2023, reached UAH 158.6 billion, having increased by UAH 26.4 billion since the beginning of the year (excluding the impact of exchange rate differences).

The bank notes that the total portfolio of customer accounts has increased by UAH 23.5 billion since the beginning of the year to UAH 136.1 billion, including UAH balances increased by UAH 17.9 billion.

The financial institution clarifies that the hryvnia deposit portfolio of customers has almost doubled since the beginning of the year, or by UAH 3 billion to UAH 9.1 billion.

This, in particular, made it possible to increase the portfolio of three-month deposit certificates to more than UAH 11.4 billion.

In addition, Ukrgasbank increased its portfolio of domestic government bonds by almost two-thirds over 7 months – by UAH 14.2 billion to UAH 36.3 billion.

At the same time, the volume of lending was lower: since the beginning of the year, almost UAH 5 billion has been provided, of which UAH 2.8 billion was used to finance the needs of agricultural and food industry enterprises, and another UAH 1.6 billion was attracted in the electricity and trade sectors.

“To support trade, exports and imports, Ukrgasbank, which is a leader in Ukrainian trade finance, has implemented 400 transactions for Ukrainian enterprises worth over UAH 6 billion,” the financial institution added.

According to the National Bank of Ukraine, as of July 1, 2023, Ukrgasbank ranked 5th in terms of total assets (UAH 167.97 billion) among 65 banks operating in the country, its net profit for the first half of the year amounted to UAH 2.6 billion.

In the second quarter, the state-owned bank’s network grew by two branches and now includes 219 structural units across the country.

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Andriy Pashchuk assumed duties of Director of Economic Security Bureau of Ukraine

Andriy V. Pashchuk has taken office as Director of the Economic Security Bureau of Ukraine. Andriy Pashchuk has been working in the BEB since November 2022, he was appointed as the winner of the competition for vacant positions of full-time employees of the BEB, who have special titles.
Now the Acting Director of the BEB will carry out the overall coordination and control of the activities of the central apparatus (CA) and territorial departments (TS) of the BEB and ensure the fulfillment of other tasks stipulated by the Law of Ukraine “On the Bureau of Economic Security of Ukraine”.
Eduard Fedorov was dismissed by the relevant order of the OEB by agreement of the parties on August 14, 2023.

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IC “Express Insurance” increased payments by 45.5%, payments by 74.6%

In January-July 2023, Express Insurance (Kyiv) paid out UAH 77.9 million, which is 45.5%, or UAH 55.6 million, more than in 2022 and 29.4% more than in January-July 2021, the insurer’s website reports.

In particular, motor hull insurance payments amounted to UAH 156.2 million or 87.8% of all payments, and MTPL payments amounted to UAH 15 million (8.4% of payments).

The company’s insurance payments for the period amounted to UAH 381.8 million, which is 74.6% more than in the same period a year earlier.

Including payments on motor hull insurance amounted to UAH 332.6 million (+70.9%), and on MTPL – UAH 38.3 million (2.4 times more).

The company’s assets for 7 months of 2023 increased by 11.4% and amounted to UAH 693.9 million, of which UAH 629.4 million are concentrated in cash or cash equivalents.

Shareholders’ equity increased by 11.2% to UAH 278.4 million, and the company’s actual solvency margin exceeded the regulatory indicator set by the Law of Ukraine “On Insurance” by more than 2.5 times and reached UAH 277.7 million.

Founded in 2008, Express Insurance ALC is part of the UkrAVTO group of companies. The company specializes in motor insurance. The consistently high speed of claims settlement in the IC is ensured by optimal interaction with partner service stations.

Since April 2012, Express Insurance has been an associate member of the Motor Transport Insurance Bureau of Ukraine.

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Restrictions on movement of freight transport in Kyiv

Restrictions have been imposed on the movement of trucks in Kyiv, the press service of the Kyiv Patrol Police reports on its Telegram channel.

“Temporary traffic restrictions apply to heavy vehicles with a total weight of more than 24 tons, an axle load of more than 7 tons and apply to both entry to Kyiv and movement in the city. The duration of the restriction may vary depending on the temperature. So follow the latest information on our Telegram channel,” the statement said.

The police reminded that the main purpose of such measures is to preserve the road surface, which is destroyed due to the heavy traffic of heavy vehicles in hot weather.

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