One of the largest grain market operators in Ukraine, JV Nibulon LLC (Mykolaiv), has put up for auction a full-cycle property complex in Zhytomyr region, the grain trader’s website reports.
According to the report, the property includes a pig farm and a meat processing plant in the village of Bystryk.
Among the advantages of the business sold by the grain trader are a favorable location in the central part of Ukraine near the capital on an area of 11 hectares, working equipment in satisfactory condition, the availability of personnel consisting of local residents, stable demand for pork and its products in the domestic and foreign markets, its own trademark “Bystrytska”, project and design developments.
The auction will run until April 20.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever volume of 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
Switzerland intends to hold a high-level conference on a settlement in Ukraine in mid-June, Bloomberg reported on Monday, citing sources.
“The conference may take place on June 16-17, but it is not yet clear how many countries will participate,” the agency informs, noting that it could be 80-100 countries, representing mainly the “global South.”
According to the agency’s interlocutors, the key issue is China’s participation, which will allow Switzerland to “ensure the credibility of the initiative.”
A representative of the Swiss Foreign Ministry noted that the date and venue of the conference are still unknown. The agency’s sources said it could be held in the Swiss city of Lucerne.
“In addition to the positions of Ukraine, Russia and Europe, it is important to hear the opinion of the “global South”, which will play a key role in the possible inclusion of Russia in this process. That is why we maintain close contacts with China, India, Brazil, South Africa and Saudi Arabia,” the Swiss Foreign Ministry spokesman added.
Bloomberg notes that several countries insist on Russia’s participation in the conference, but Kyiv wants to reach an agreement on key principles that “will form the basis for a future agreement” before engaging Moscow in the dialogue.
On April 5, Uzbekistan and the European Union signed a memorandum of understanding that launched a strategic partnership to develop sustainable value chains in the field of critical raw materials.
The memorandum was visualized in Belgium by Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, and Valdis Dombrovskis, Executive Vice President of the European Commission.
The EU notes that Uzbekistan has the second largest reserves of critical raw materials in Central Asia: copper, molybdenum and gold.
“This agreement marks a significant step towards securing diversified and sustainable supplies of critical raw materials for the transition to green and digital technologies, both in the European Union and in Uzbekistan,” the statement said.
Critical raw materials are minerals that are of great economic importance to the European Union. Such raw materials include 34 types of metals, minerals and other natural materials, 17 of which are strategically important: copper, lithium, aluminum, titanium, platinum, graphite, nickel, cobalt and others.
The strategic partnership, according to the memorandum, focuses on the following areas of cooperation:
Integration of sustainable value chains for critical raw materials, including through networking, pre-qualification of project proposals, joint project development, and promotion and facilitation of trade and investment links along the entire value chain;
Increasing the supply of critical raw materials and establishing a dialogue to increase transparency in investment, operations, and exports;
Attracting financing for projects implemented under the partnership, as well as developing clean energy supply, but not limited to;
Cooperation in the field of research and innovation, including the exchange of knowledge and technology related to sustainable exploration, production, processing and reuse of critical raw materials, etc.
“This agreement with natural resource-rich Uzbekistan will help the EU secure much-needed access to critical raw materials. For Uzbekistan, this will be a major boost to its ambitions to diversify its economy and sustainably develop its extractive industry,” said Valdis Dombrovskis.
The partnership is in line with the Global Gateway strategy, the EU’s key initiative to invest in sustainable projects around the world, taking into account the needs of partner countries and providing long-term benefits to them, through which the EU will mobilize up to €300 billion by 2027.
The next step after the signing of the memorandum will be the joint work of the European Union and Uzbekistan to create an operational roadmap with concrete actions.
On April 5, Ukrhydroenergo announced a tender for voluntary motor vehicle insurance (CASCO) for the branches of the Cascade of Kyiv HPPs and PSPs, according to the Prozorro electronic public procurement system.
The expected value of the insurance services procurement is UAH 192.041 thousand.
The deadline for submitting documents for the tender is April 15.
“Ukrhydroenergo operates all major hydroelectric power plants located on the Ukrainian sections of the Dnipro and Dniester rivers. The total installed capacity of the company’s hydroelectric power plants is 5,744.8 MW. The state, represented by the Ministry of Energy, owns 100% of the company’s shares.
hull insurance, hydroelectric power plants, motor vehicle insurance, Prozorro, PSPPs, TENDER, UKRHYDROENERGO
In 2023, VUSO Insurance Company (Kyiv) collected UAH 2.677 billion in gross premiums, which is 62.6% more than in 2022, the rating agency (RA) Standard Rating reported in information on the confirmation of the company’s financial strength rating at the level of “uaAA” on the national scale.
According to the information on the RA website, in particular, revenues from individuals increased by 48.98% to UAH 1.724 billion during the reporting period, and from reinsurers – by 60.62% to UAH 32.205 million. Thus, the share of individuals in the insurer’s gross written premiums for the twelve months of 2023 amounted to 64.39%, and the share of reinsurers – 1.20%.
Insurance payments sent to reinsurers increased by 19.75% to UAH 204.246 million. The ratio of reinsurers’ participation in insurance premiums decreased by 2.73 p.p. to 7.63%.
Net written premiums for the reporting period increased by 67.57% to UAH 2.473 billion, while earned premiums increased by 75.59% to UAH 2.337 billion.
VUSO paid UAH 972.7 million to its clients in 2023, which is more than twice the amount of insurance payments and reimbursements in 2022. Thus, the level of payments increased by 8.15 percentage points to 36.33%.
At the end of 2023, profit from operating activities increased by 19.34% to UAH 49.904 million, and net profit increased 2.7 times to UAH 44.048 million.
As of December 31, 2023, the company’s assets increased by 71.40% to UAH 1.748 billion, equity by 66.80% to UAH 634.114 million, liabilities by 74.13% to UAH 1.114 billion, and cash and cash equivalents by 26.10% to UAH 552.918 million.
At the same time, RA notes that the growth of the company’s equity was due to an increase in the authorized capital by UAH 187.585 million in the first quarter of 2023. In particular, in May 2023, the issue of ordinary registered shares in the amount of UAH 187.585 million was registered, which is 100% of the authorized capital of PJSIC ASKA, and in July 2023, the conversion of PJSIC ASKA shares into shares of VUSO Insurance Company was completed.
As reported, the decision to merge ASKA with VUSO and to continue working under a single brand was made during the general meeting of both insurance companies in March 2023, and the acquisition was announced by VUSO shareholders in August 2022.
The RA also reports that as of the beginning of 2024, the company had a sufficient level of capitalization (56.92%) and a good level of cash coverage of liabilities (49.63%). The company has formed a portfolio of investments in domestic government bonds in the amount of UAH 204.037 million, which increased the level of the insurer’s liquid assets, which together covered 67.95% of the company’s liabilities. In addition, the balance of funds in the centralized insurance reserve funds (MTIBU) as of the reporting date amounted to UAH 293.449 million, including UAH 219.978 million of additional guarantee premiums for the company’s liquidity.
VUSO was founded in 2001. The company holds 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance, and is represented in all regions of Ukraine. It is a member of MTIBU and USIF, a party to the Direct Claims Settlement Agreement and a member of the Nuclear Insurance Pool.
Businessman Igor Liski’s investment holding EFI Group (Effective Investments) has launched Beehive Cosmetics, a line of premium hair care products based on honey produced by the holding’s Beehive plant.
“A new business is always a love for creating something special. I’d like to introduce you to a new project that came about thanks to my great passion for quality honey. The whole team worked day and night on a unique formula, we are just very proud of its unique natural composition. And it is very, very beautiful! So, we are all in for something special – the presentation of our Beehive Cosmetics brand and a line of premium hair care products,” Liski wrote on Facebook.
The EFI Group press service told Interfax-Ukraine that the Beehive Cosmetics brand is a joint effort by EFI Group founder Igor Liski and former Henkel Ukraine CEO Nina Dombrovska, who have been working together to create the company for three years and are co-owners of the project.
“Our product line is a unique complex of natural honey-based hair care cosmetics that combines the best natural ingredients with state-of-the-art active ingredients and high production technologies. We have a great opportunity to produce high-quality products in Ukraine, which is important for stimulating domestic demand and supporting domestic producers,” Dombrowska said.
She added that the founders of the project aim to build a strong brand that can be competitive in other markets in the future.
The presentation of the honey-based cosmetics line will take place on Monday at the Superwoman forum. In addition, the brand’s Instagram page periodically holds contests among its followers. The winners are given the opportunity to test Beehive Cosmetics.
EFI Group was founded in 2007 and is engaged in the implementation of business projects in Ukraine. The company’s investment areas include healthcare and medtech, paper, food and woodworking industries, and agricultural supplies.
The company’s businesses include Feednova, an animal fats and feed additives producer, Bigaiv honey production plant, Medical Star healthcare network, Zhytomyr Cardboard Mill, Sam Ecopack, a cardboard packaging manufacturer, Forest Technology, an agricultural products supplier, Efi Agro, and Doc.ua, an online medical hub.
