Business news from Ukraine

Business news from Ukraine

Ukrainian Foreign Ministry receives copies of credentials from new Swedish ambassador to Ukraine

Deputy Foreign Minister of Ukraine Yevhen Perebiynis received copies of credentials from the new ambassador of the Kingdom of Sweden to Ukraine, Martin Oberg, on Tuesday, August 15.

According to the website of the Ministry of Foreign Affairs of Ukraine, the Deputy Minister positively noted the high level of bilateral political dialogue between the two countries and thanked Sweden for all-round support of Ukraine, in particular, the strong defense assistance in the form of weapons and military equipment.

In turn, Oberg reaffirmed Sweden’s readiness to continue supporting Ukraine and strengthening cooperation between Kyiv and Stockholm.

The sides also discussed practical steps to implement President Volodymyr Zelenskyy’s Formula for Peace, support Ukraine on its way to full EU membership, and exchanged views on further development of bilateral cooperation between the two countries.

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“Kharkivvodokanal” again announced tender for MTPL insurance with budget of almost 2.5 mln UAH

KP “Kharkivvodokanal” on August 15 announced a tender for compulsory insurance of civil liability of owners of land vehicles (MTPL) in the amount of 628ed.

According to the system of electronic public procurement Prozorro, the expected cost of purchase of services is UAH 2.520 million.

Proposals are accepted until August 23.

As reported, KP “Kharkivvodokanal” on July 5, 2023 reported the cancellation of the tender for compulsory insurance of civil liability of owners of land vehicles (OSAGO) 584ed. The reason for this decision was the lack of further need for the procurement of goods, works and services.

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“Energoatom” has announced tender for MTPL insurance

On August 15, the state-owned enterprise NAEK Energoatom (Kyiv) announced a tender for compulsory motor third party liability insurance for owners of land vehicles (MTPL).

As reported in the Prozorro electronic public procurement system, the total expected cost is UAH 99,944 thousand.

The deadline for submitting tender documents is August 23.

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Sweden to supply Ukraine with $313m worth of ammunition, spare parts and mine clearance equipment

Swedish authorities are going to provide Ukraine with another $313 million military aid package to counter Russian full-scale aggression, Western media reported on Tuesday, citing Swedish Defense Minister Paul Johnson.

He said at a press conference that the package would include ammunition and spare parts for Leopard 2 tanks, CV-90 infantry fighting vehicles, Archer self-propelled artillery systems (SAU), as well as landmine clearance equipment and ammunition for air defense systems.

The minister added that the government was counting on a positive outcome of Thursday’s vote in the Swedish parliament to adopt this, already the 13th military aid package for Ukraine.

The mass media recall that the value of the previous tranches of military aid to Kiev amounted to $1.6bn. Sweden sent Archer SAU, at least 10 Stridsvagn main battle tanks, 122 Leopard 2A5 tanks, 50 CV-90 BMPs, RBS 70 man-portable surface-to-air missile systems, NLAW man-portable anti-tank missile systems, a significant number of components for Hawk and Iris-T air defense systems.

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KSG Agro has increased its profit by 21%

Agroholding KSG Agro posted $1.04 million in net profit in the first half of 2023, up 21.2% from the same period last year.

According to the company’s report on the Warsaw Stock Exchange on Tuesday, its EBITDA fell 27% to $1.61 million.

It is stated that KSG Agro’s revenue in January-June this year increased 23% year-on-year to $7.41 million, while gross profit decreased 13% to $1.79 million and operating profit decreased 37% to $0.94 million.

“The group continues to execute its simple strategy of focusing on three winter crops, two spring crops and single breed hogs,” the document notes.

It is specified that in the first half of 2023 KSG Agro exported 4.2 thousand tons of grain crops (wheat, corn, barley) mainly to Asia and Africa within the existing grain corridor through the ports of Odessa and Odessa region.

KSG Agro conducted sunflower sowing on the area of 7.3 thousand hectares at the end of May – beginning of June and during the growing season is engaged in chemical and mechanical tillage with mechanical cultivators and rotary harrows.

“The harvest is in good condition. The sowing campaign went on as planned, without major interruptions due to fighting,” the company said in a statement. According to it, harvesting of winter crops has been completed: barley yield was 3 tons/ha, rape – 2.5 tons/ha, wheat – 5 tons/ha.

The agricultural holding recalled that in June, the Kakhov dam on the Dnieper River was destroyed, which led to flooding of a number of regions downstream and drying up of several irrigation canals upstream. Although the group was partially dependent on water supplies from the canals, these supplies were not essential to the group’s operations. KSG Agro has switched to alternative water sources and does not foresee water shortages in the near future. None of the agro holding companies are located downstream of the dam and have not been affected by flooding.

KSG Agro, a vertically integrated holding company, is involved in pig farming, as well as the production, storage, processing and marketing of grains and oilseeds. Its land bank is about 21 thousand hectares in Dnepropetrovsk and Kherson regions.

According to the agroholding, it is among the top 5 pork producers in Ukraine.

Last year KSG Agro, due to the full-scale war started by Russia, ended 2022 with a net loss of $1.68 mln compared to $17.71 mln net profit in 2021, its EBITDA decreased 5.5 times to $1.79 mln, and its revenue decreased by 47.3% to $16.2 mln.

In the first quarter of this year, the agribusiness holding company earned $1.53 million in net income, down 17% from the same period last year. Its EBITDA increased by 23% to $1.87 mln, while revenue grew by 45% to $5.12 mln.

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Fighting erupted in Libyan capital Tripoli previous night

Clashes between local paramilitary units erupted in the Libyan capital Tripoli the night before, with thousands of city residents unable to get out of the fighting zone, the Associated Press (AP) reported Tuesday.

According to AP, the 444th Brigade of the Metropolitan Military District, which reports to the Government of National Accord (GNA) in Tripoli, and the Special Deterrence Force, a special operations unit of the military police, were involved in the fighting. The conflict occurred after some reports said that the commander of the 444th Brigade was detained at Tripoli airport the previous day.

For its part, Libya’s Health Ministry has called on the conflict to allow ambulances and emergency services into the city’s most violence-hit neighborhoods, especially in the south.

However, the number of possible victims is still unclear, notes AP.

There are reports that a significant number of airplanes left Tripoli airport the day before. Arriving flights are being diverted to Misrata.

The agency recalls that the current outburst of violence was preceded by several months of relative calm in the country.

For a long time, Libya has had two bodies of executive power in parallel: the UN-backed PNA in Tripoli, in the west of the country, and the interim cabinet in the east of the country, which was supported by the army of Khalifa Haftar. According to Western media, Haftar was aided by Russia, France, Saudi Arabia, the UAE, and Egypt. The government in Tripoli, in turn, was sided by Turkey, Qatar, and Italy.

In October 2021 in Geneva, representatives of the warring parties signed a permanent ceasefire agreement. Presidential elections in Libya, the first since the overthrow and assassination of Muammar Gaddafi, were scheduled for December 24, 2021, but in the end the vote did not take place. This was due to disagreements over electoral laws, which have not been overcome to date.

In early July, Haftar threatened that if the Libyan authorities do not create conditions for a fair distribution of oil revenues by the fall, otherwise the Libyan National Army (LNA) may retaliate.

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