The Cabinet of Ministers has approved the form of the declaration of compliance of the material and technical base of small distillers with the requirements of the law and determined the procedure for its submission and registration.
The relevant Resolution No. 56 of January 19, 2024 was published on the website of the Ministry of Agrarian Policy and Food.
According to the document, small distillers will be able to submit a declaration of compliance of the material and technical base with the legal requirements to the territorial bodies of the State Service of Ukraine for Food Safety and Consumer Protection. Instead of the production certificate, they will be able to use the declaration of compliance of the material and technical base registered by the State Service of Ukraine on Food Safety and Consumer Protection to obtain licenses for the production of alcohol distillates and alcoholic beverages, which will greatly simplify this procedure.
It is expected that the adopted innovations will ensure the development of the market for alcohol distillates and alcoholic beverages, stimulate the development and legalization of small businesses, and contribute to the creation of new jobs, particularly in rural areas.
Earlier, Interfax-Ukraine news agency held a press conference to support the new industry, for more details, please follow the link
OTP Bank uses the latest technologies for the development of factoring services, which allows to significantly speed up work processes and provide financing to customers faster. This was stated by Lina Zaika, Head of Factoring Finance Department of OTP Bank, during the round table discussion “How factoring can support business development during the war” organized by the Financial Club.
According to her, the Bank has switched to full electronic document management: from signing relevant agreements and executing documents on assignment of the right of monetary claim to compiling registers and storing loan files. “We are actively using new technologies, including robots, artificial intelligence and all possible means that help, for example, in verifying supporting documents for loan applications and speed up work processes. We are developing in such a way that our clients can exchange not only electronic documents online, but also receive all the necessary information from the Bank,” said Ms. Zaika.
Factoring financing for small and medium-sized enterprises (SMEs) is an affordable and convenient product. Factoring allows you to get working capital for your business immediately after the delivery of goods, without waiting for the end of the deferred payment period under the contract with the buyer. “This type of financing is especially relevant for small companies with limited assets due to the absence of the need to provide collateral, as well as a reduction in the interest burden for them,” she added.
This instrument of bank financing was supported by the state in the form of the “Affordable Factoring” program, which operates within the framework of the state business support “Affordable Loans 5-7-9%” to provide working capital for SMEs.
OTP Bank was one of the first to join the implementation of the “Affordable Factoring” program. “The bank is already considering several limits and plans to sign the first factoring agreements under the 5-7-9 program in the near future,” said the Head of Factoring Finance Department.
About the state program “Affordable Factoring” (data from the Ministry of Finance). Financial support for business entities under factoring agreements provides for compensation of the interest rate at the level of up to 13% per annum. The authorized factor will provide factoring to a business entity in the amount of up to 95% of its receivables, but the amount of financing cannot exceed UAH 150 million, including funds received under the programs “Affordable Loans 5-7-9%” and “Affordable Financial Leasing 5-7-9%”. The program is open to SMEs resident in Ukraine that supply goods manufactured by Ukrainian producers on a deferred payment basis, whose ultimate beneficial owners (controllers) are individuals resident in Ukraine and agricultural producers.
Export changes in % to previous period in 2022-2023
Source: Open4Business.com.ua and experts.news
Premier Alliance Insurance Company (formerly Salamander Ukraine, then Van Click) and Alfa Insurance Company have been expelled from the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
This decision was made at the general meeting of MTIBU members held on January 22, a participant in the meeting told Interfax-Ukraine.
The membership of Premier Alliance Insurance Company was terminated on the basis of the company’s application in connection with the termination of its activities, all its funds were transferred to Salamandra Insurance Company, Alfa Insurance Company – due to the loss of the license for compulsory motor third party liability insurance (MTPL).
As reported, on December 20, 2023, the National Bank of Ukraine revoked all insurance licenses of Premier Alliance Insurance Company PrJSC and excluded information about it from the State Register of Financial Institutions based on the company’s application.
According to the NBU, according to the insurer’s latest financial statements for the first nine months of 2023, the company’s insurance premiums amounted to UAH 14.361 million, assets amounted to UAH 62.419 million, and insurance reserves amounted to UAH 3.840 million. Premier Alliance, like Salamandra, was part of the non-banking financial group Salamandra, the ultimate beneficiary and owner of which is Yuriy Yavtushenko.
As reported, on December 14, 2023, the NBU revoked all licenses of Alfa Insurance (Kyiv) due to violation of the regulations on licensing and registration of financial service providers, namely, inconsistency of business reputation of the owners of significant participation.
According to the NBU, according to the latest filed financial statements of PrJSC “IC “Alfa Insurance” as of September 30, 2023, the company’s insurance premiums amounted to UAH 3.991 million, the value of assets – UAH 644.129 million, insurance reserves – UAH 21.053 million. The company’s market share in terms of insurance premiums amounted to 0.13%.
Global insurance losses from natural disasters will reach $118 billion in 2023, according to a report published by insurance and reinsurance broker Aon on its website.
The report emphasizes that this is the fourth year in a row that insurance losses have exceeded the 21st century average, reflecting the growing impact of natural disasters on the global economy.
Global insurance losses during the year increased by 31% compared to this century’s average, exceeding $100 billion for the fourth consecutive year.
Aon estimates economic losses from natural catastrophes at $380 billion from 398 events, which is 22% more than the average for the century, leaving a gap in protection in 69% of cases, emphasizing the urgent need to expand insurance coverage.
It is emphasized that the surge was caused mainly by severe earthquakes and continuous severe convective storms (SCS) in the United States and Europe. Earthquakes caused the largest economic losses, and strong convective storms were the most expensive for insurers.
The number of natural disasters with large losses reached an unprecedented level in 2023: 66 cases of economic loss of more than $1 billion and 37 cases of insured loss of $37 billion.
Last year, natural disasters led to the tragic deaths of 95 thousand people worldwide, the highest number since 2010. Earthquakes, in particular, were the main cause of these losses.
In addition, 2023 was the hottest year on record with “unprecedented temperature anomalies” affecting 24 countries and territories.
According to Aon CEO Greg Case, it is necessary to increase the resilience of organizations in the face of growing climate and disaster risks.
He emphasized the need for joint efforts by the private and public sectors to accelerate innovation, protect vulnerable communities and address the economic impact of extreme weather.
The Stellantis representative office in Ukraine (Peugeot, Citroёn, Opel, DS Automobiles, Jeep) sold approximately 5.1 thousand new passenger cars and light commercial vehicles (LCVs) in its dealer network in 2023, taking more than 7% of the market, the representative office’s press service reports.
As reported, in 2022, the share of Stellantis brands, whose sales amounted to 3 thousand units, accounted for 6.84% of the passenger car and light commercial vehicle market.
Thus, in 2023, car sales of the five brands increased by almost 70%, and the market share increased slightly, given that the market for new passenger cars and LCVs grew by 63.5% by 2022 to 65.1 thousand units (including 65.1 thousand passenger cars and about 7.4 thousand commercial vans/vans).
“Thus, the total growth of Stellantis brands exceeded the growth of the new car market in Ukraine by 6%. Moreover, the end of the year was very positive: in December, sporadic sales growth allowed Stellantis to take 9.7% of the market, which may signal a steady increase in sales in 2024,” the press service said.
According to the representative office, Peugeot became the sales leader among the brands (in 2022, Citroen won this position from it – IF-U) with a 74% increase in sales to 2.17 thousand units, which allowed it to take about 3% of the car market (in 2022 – 2.81%).
The best-selling models were the crossovers Peugeot 3008 (470 units) and Peugeot 2008 (348 units), while vans and vans Peugeot Boxer (294 units), Peugeot Partner (168 units) and Peugeot Rifter (144 units) were consistently popular.
Among passenger cars, the Peugeot 301 sedan (198 units) and the new Peugeot 408 crossover fastback (194 units sold in less than a year on the market) were good sellers.
In addition, the company considers the launch of a completely new product – the Peugeot Landtrek pickup truck – a success (225 vehicles sold in less than a year).
Sales of the Citroen brand increased by 58% to more than 2 thousand units, which allowed it to take 2.8% of the market (in 2022 – 2.87%).
Among passenger cars, the most popular models were the large Citroen C5 Aircross crossover (386 units sold), the Citroen C-Elysee sedan (340 units) and the Citroen C3 compact hatchback (196 units), and among commercial vehicles – the large Citroen Jumper (498 units) and the compact Citroen Berlingo (368 units).
“Thanks to the wide LCV lineup, Citroen is becoming a leader in sales of special vehicles and converted vehicles,” the press release states.
Sales of the German brand Opel, according to Stellantis Ukraine, increased by 96.5% last year to 890 units, with a market share of 1.2%, and the best-selling vehicles were the compact Opel Combo (344 units) and the mid-size crossover Opel Grandland (297 units). The compact crossovers Opel Mokka (104 units) and Opel Crosland (74 units) were in good demand.
The premium brand DS Automobiles sold 69 units (in 2022 – 62 units), with the largest number of DS 4 hatchbacks sold (47 units).
The company considers its relaunch by a new importer to be the main achievement for the Jeep brand in the Ukrainian market.
“The comprehensive ‘relaunch’ of the brand in Ukraine took place at the end of 2023, so Jeep’s sales results are not yet indicative. However, 2024 should demonstrate the full strength of the brand, especially given the replenishment of the model lineup,” the press release said.
As reported, the lineup for the brand launch has been formed, price lists have been announced, and new dealerships are starting to operate in the largest cities of Ukraine.
“This year, the model lineup will be complemented by the compact crossover Jeep Avenger, which is already on the market,” the press release said.
The report reminds that Stellantis Ukraine has been providing free repairs of state and municipal vehicles since March 2022: 2.7 thousand vehicles have been repaired to date, more than 10.5 thousand applications for repairs and maintenance have been submitted, and the total cost of work exceeds UAH 75 million.
Stellantis was formed in mid-January 2021 as a result of the merger of PSA Group and Fiat Chrysler Automobiles NV (FCA).
