Business news from Ukraine

Business news from Ukraine

Canada to provide expert support for restoration of 19 tergromads

Canada will provide expert support on social and economic recovery to 19 Ukrainian communities under the Community-Led Inclusive Recovery (CLIR) initiative, the press service of the Ministry of Community Development, Territories and Infrastructure said.

“The assistance of the CLIR initiative will allow communities to better understand the priorities of recovery, get the necessary knowledge and tools to develop effective inclusive recovery projects taking into account the needs of all groups of residents,” the press release quoted Deputy Prime Minister for Recovery – Minister of Community Development, Territories and Infrastructure Oleksandr Kubrakov as saying.

Communities in Kyiv region (Baryshevka, Glevakha, Boyarka, Velyka Dymyrka), as well as in Dnipropetrovsk region (Sofiyivska, Pershotravenska, Apostolivska, Zelenodolska) have been selected to participate in the program, Nikolaev (Bashtanka, Berezneguvatoe), Odessa (Shabovka, Belgorod-Dnestrovska), Chernigov (Kholmska, Korpska, Menska), Donetsk and Kharkiv (Bliznyukivska, Saventsy, Balakleya) oblasts.

The experts will provide the selected communities with support in strategic management and planning, building partnerships with international organizations and attracting external investments, developing social services, implementing sustainable development principles, and developing recovery plans and strategies.

The CLIR initiative is implemented by the SURGe Project, an international technical assistance project “Supporting Government Reforms in Ukraine” funded by the Government of Canada.

SURGe is a project on inclusive governance in Ukraine, implemented by Alinea International and funded by the Ministry of Foreign Affairs of Canada.

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TAS Insurance Group has paid out more than UAH 1.3 bln under insurance contracts in 2023.

Insurance group “TAS” (Kiev) in 2023 paid out under the concluded insurance contracts totaling UAH 1.341 billion, which is 48.3% higher than the amount of reimbursements of the company for 2022.

According to the company’s website, payments under CASCO contracts have increased by 60.2% – up to UAH 402.78 mln, which is 30.03% of the total volume of payments of the insurer for 2023, MTPL – by 39%, up to UAH 491.21 mln (36.62%), “Green Card” – by 64%, up to UAH 35.5 mln (25.3%).

Payments on “Green Card” have increased in 2,9 times – up to UAH 238,05 mln that makes 17,75% of the total amount of payments of the insurer for the reporting period. Payouts under VHI have increased by 44,2% – up to UAH 168,28 mln (12,55%).

Under property insurance contracts the company paid out UAH 10,72 mln last year – by 19,6% more than in 2022.

Under other insurance contracts SG “TAS” has paid UAH 30,2 mln in 2023.

SG “TAS” was registered in 1998. It is a universal company, offers more than 80 types of insurance products on various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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TAS Insurance Group increased payments by 48.3%

In 2023, TAS Insurance Group (Kyiv) paid out a total of UAH 1.341 billion under the concluded insurance contracts, which is 48.3% more than the company’s indemnities for 2022.

According to the company’s website, payments under hull insurance contracts increased by 60.2% to UAH 402.78 million, which is 30.03% of the insurer’s total payments for 2023, MTPL – by 39% to UAH 491.21 million (36.62%), Green Card – by 64% to UAH 35.5 million (25.3%).

Payments under the Green Card increased by 2.9 times to UAH 238.05 million, which is 17.75% of the total amount of payments made by the insurer for the reporting period. VHI payments for the year increased by 44.2% to UAH 168.28 million (12.55%).

Under property insurance contracts, the company paid UAH 10.72 million last year, which is 19.6% more than in 2022.

Under other insurance contracts, TAS IG paid UAH 30.2 million in 2023.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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Quantum-Systems donates 100 Trinity drones of various modifications to Ukraine

German unmanned aerial vehicle manufacturer Quantum-Systems has begun supplying Ukraine with 100 Trinity drones of various models, according to the website of German aid to Ukraine, Germany Aid Ukraine, on Sunday.

“The supply of drones was announced in September 2023 during a meeting between Quantum-Systems CEO Florian Seibel and Kyiv Mayor Vitali Klitschko at the Stern Stewart Institute Summit. The company, which is particularly active in Ukraine’s defense campaign, is actually donating the drones. Quantum-Systems is also supplying hundreds of Vector UAVs to Ukraine on behalf of the German government,” the statement said.

As noted in the report, Ukrainian operators have completed training for Trinity operators and operator trainers, and now will not depend on foreign training, and the first delivery of drones will take place in January. The Kyiv city administration will decide how and where the 100 Trinity drones will be deployed.

The report describes the characteristics of the mapping modification of the Trimity Pro drone and notes that they are suitable for assessing military destruction. “This means that they are used to accurately map damage to infrastructure, buildings, roads or bridges, for example, after Russian attacks… However, there is also a chance that Trinity will be seen on the battlefield. As we have already mentioned, the German company supplies Ukraine with a mixture of all Trinity models,” the statement said.

In particular, the Trinity Tactical model can be used, for example, to provide real-time imagery to special forces operating in enemy territory or in isolated areas.

“In just one flight, a single drone can cover an area of 700 hectares or a linear corridor of 90 km. Regardless of where and how the Ukrainians deploy the drones later, we can be sure that they will serve well both on the battlefield and in cities, and will actively support the fight against Russian occupiers or civilian reconstruction,” the website says.

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Voting in presidential election in Finland ended on Sunday

Voting in the presidential election in Finland ended on Sunday, with a voter turnout of 74.9%. Since none of the candidates received more than half of the votes, a second round of voting will be held on February 11 with the participation of Alexander Stubb and Pekka Haavisto, the Finnish edition of Yle reported on Sunday.

After counting 100% of the votes, former Prime Minister Aleksandra Stubb received 27.2% of the vote, and former Foreign Minister Pekka Haavisto 25.8%.

According to the country’s legislation, the president is elected for 6 years for no more than two consecutive terms, so Finnish President Sauli Niinistö will no longer be able to claim a third term in office, and a new, thirteenth head of state will come to power, whose term of office will begin on March 1, 2024.

Earlier, the Experts Club information and analytical project analyzed all the major elections scheduled for 2024, and you can learn more about the 2024 global elections in the video here: https://youtu.be/73DB0GbJy4M?si=rAMBZvZ4ozNmSr4v

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

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Oil prices rise, Brent near $84 per barrel

Benchmark oil prices are rising on Monday morning on the news of the deaths of US military personnel in Jordan as a result of drone attacks.

The price of March futures for Brent on the London ICE Futures exchange at 7:07 a.m. is $83.97 per barrel, which is $0.42 (0.5%) higher than at the close of the previous session. Last Friday, these contracts rose in price by $1.12 (1.4%) to $83.55 per barrel.

Quotations for March futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) by this time increased by $0.36 (0.46%) to $78.37 per barrel. At the end of the previous session, they rose by $0.65 (0.8%) to $78.01 per barrel.

Last week, the price of Brent rose by 6.4%, a record pace since mid-October, and WTI by 6.5%, the highest since early September.

Oil prices were supported last week by data showing a drop in US oil reserves and production last week, said Colin Czeszynski, an analyst at SIA Wealth Management. An additional positive factor was the expectation of new incentives in China.

Meanwhile, the US military reported a drone attack on an American base in northeastern Jordan near the border with Syria. Three soldiers were killed and 34 others were injured. US President Joe Biden said on Sunday that Iranian-backed militias were responsible for the attack.

Much will now depend on the US response and the actions of Iran, which could close the Strait of Hormuz, Tariq Zaheer of Tyche Capital Advisors told MarketWatch. “We are on the verge of escalation, which could seriously affect oil flows,” he added.

Data from the oilfield services company Baker Hughes showed that over the past week, the number of operating oil rigs in the United States increased by two to 499 units. Meanwhile, the number of gas rigs decreased by one to 119.

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