The shareholders of Forte Life Insurance Company (Kyiv) have decided to increase its authorized capital by UAH 7 million to UAH 24 million.
According to the company’s announcement in the NSSMC’s information disclosure system, the nominal value of one share is UAH 1 thousand, the placement price is UAH 4,541 thousand. The method of securities placement is without a public offer. It is noted that the placement of shares may lead to a change in the owner of a large stake (99.80% of the authorized capital), which at the time of the decision was Oksana Kuleshina.
As reported, Forte Life Insurance Company (formerly Insurance Union Life), registered in 2005, specializes in providing life insurance services.
In February 2021, the company announced that Astrum Ukraine LLC, which owns 99% of the shares of Forte Life Insurance Company (Kyiv), reduced its stake to 0%, and Oksana Kuleshina became the owner of this stake.
The Parliamentary Committee on the Organization of State Power, Local Self-Government, Regional Development and Urban Planning
has recommended that the Verkhovna Rada adopt in the second reading and as a whole the draft law on amendments to certain laws on expanding the powers of local governments to support the security and defense sector of Ukraine (No. 9559-d), the press service of the Verkhovna Rada’s apparatus reports.
The draft law proposes to amend the laws “On Local Self-Government in Ukraine” and “On Prevention of Corruption” to expand the powers of local governments to provide financial and material support to the security and defense sector during martial law or a state of emergency.
The draft law provides for empowering executive bodies of village, town and city councils to build, equip and maintain engineering and fortification structures.
According to the draft law, local authorities may approve local budgets and amend them, approve programs of socio-economic and cultural development, targeted programs on other local government issues, transfer funds in the form of intergovernmental transfers to the relevant local budgets in the event of temporary occupation of a territorial community and the failure to establish a military administration.
The draft law also provides for the possibility of appointing a village, town or city mayor to the position of head of the relevant military administration of the settlement(s) without dismissal. In addition, the draft law allows civil servants and local self-government officials who are on unpaid leave or in the event of downtime or suspension of their employment contract to be appointed to positions in other state and local government bodies, military administrations, and legal entities under public law.
The draft law also expands the organizational capacity of the leadership of regional and district councils under martial law in the event of a vacancy in the position of the chairman of such council.
The draft law also regulates the procedure for holding remote meetings of local self-government bodies.
The Verkhovna Rada adopted draft law No. 9559-d as a basis on April 11.
In the first quarter of 2024, 86 thousand passenger cars were imported to Ukraine. Their total declared value amounted to $1.1 billion, and the state budget received UAH 11.1 billion for the import of these cars. For comparison, in the first quarter of 2023, 52 thousand cars were imported to Ukraine (67% less than in the first quarter of 2024) with a declared value of more than $705.8 million (61% less than in the first quarter of 2024) and UAH 7.4 billion was paid to the budget (49% less than in the first quarter of 2024).
Most of the cars were imported from Germany – 17.1 thousand cars, the United States – 14.5 thousand cars, and China – 9.1 thousand cars. The TOP-5 includes cars from Japan – 8.9 thousand cars and South Korea – 4.4 thousand cars. The top ten countries from which most cars were imported to Ukraine are closing: Slovakia – 4.2 thousand cars, France – 4.1 thousand cars, Mexico – 4 thousand cars, the United Kingdom – 3.7 thousand cars, and the Czech Republic – 3.7 thousand cars.
In terms of value, the largest imports of cars came from the United States – $211.2 million (UAH 2 billion was paid to the state budget), Germany – $168.7 million (more than UAH 2.1 billion was paid to the state budget), China – $138.2 million (the state budget received UAH 182.3 million).
The top 5 countries in terms of the declared value of imported cars are Japan – $133.6 million (the budget received almost UAH 1.8 billion) and Slovakia – $81.7 million (the state budget received UAH 788.4 million).
The top 10 countries in terms of the value of imported passenger cars are as follows: The United Kingdom – by $59.6 million (almost UAH 492 million was paid to the budget), Hungary – $53.2 million (the budget received over UAH 515.3 million), South Korea – $49.3 million (the budget received UAH 468.4 million), Poland – $40.2 million (over UAH 351.6 million was paid to the state budget) and Romania – $38.8 million (UAH 311.9 million was transferred to the budget of Ukraine).
The Ukrainian Grain Association (UGA) has lowered its estimate of the potential harvest in 2024 by 1.5 million tons compared to the previous forecast – to 74.6 million tons of grains and oilseeds, the association’s press service reports.
According to the report, the current forecast is based on the average weather conditions over the past five years, so the improvement or deterioration of these conditions in spring and summer may make adjustments.
“The potential decline in the harvest in the new season is caused by both a reduction in sown areas (mainly under grain crops due to unfavorable price conditions on the world market and relatively expensive export logistics) and a somewhat dry period in May this year in a number of regions in the east and south of the country,” the UGA explained and added that under such conditions, exports in the 2024-2025 marketing year will amount to 43.5 million tons.
According to the forecast of the UGA, in the ending season, exports of grains and oilseeds may reach 53.2 million tons of grains and oilseeds.
The UGA forecasts the wheat harvest in 2024 at 19.1 million tons, which is 900 thousand tons less than the previous estimate (22 million tons in 2023). Potential wheat exports in 2024/2025 MY may amount to about 13 mln tonnes, taking into account that at the beginning of the season the carry-over stocks will be about 2.4 mln tonnes.
According to the UGA, barley harvest in 2024 may reach 4.6 mln tonnes (5.8 mln tonnes in 2023), and potential exports in 2024/2025 MY can be expected at around 2 mln tonnes (this season barley exports are forecasted at 2.5 mln tonnes).
Expectations for the corn harvest in the new season are deteriorating due to a potential reduction in corn acreage and dry conditions in a number of regions. The UGA estimates the corn harvest forecast at 25.5 million tons, which is 800 thousand tons less than the previous estimate and 4.1 million tons less than last year’s 29.6 million tons. At the same time, potential exports may amount to about 20.5 mln tons (in the current season, exports are expected to reach 26 mln tons).
The UGA expects the sunflower harvest in 2024 to reach 13.7 mln tons (in 2023 – 14.2 mln tons). Potential exports could reach up to 250 thsd tonnes (0.4 mln tonnes in the current season), while sunflower processing for vegetable oil could reach almost 13.6 mln tonnes. In the current season, processing will reach 13.5 mln tons.
In 2024, rapeseed harvest can be expected at 4.3 mln tonnes (in 2023 – 4.5 mln tonnes), while exports in 2024/2025 MY may reach 3.4 mln tonnes (in the current season – 3.7 mln tonnes).
As for soybeans, this is the only crop under which farmers can increase the area due to its profitability this year. The soybean harvest is expected to reach 5.5 mln tons in 2024 (4.9 mln tons in 2023). Potential exports in 2024/2025 MY may reach 4 mln tons (in the current season it is expected to reach 3.3 mln tons).
As reported, the UGA estimated the harvest in 2023 at 82.8 mln tonnes of grains and oilseeds.
Germany intends to allocate another EUR60 million for humanitarian aid to Ukraine, especially for the eastern regions, German Foreign Minister Annalena Burbock said.
She said this before a meeting with her EU counterparts in Brussels on Monday.
“Further humanitarian aid. As the federal government, we are allocating another EUR 60 million, especially for the east of Ukraine. Because there is still a lack of everything in eastern Ukraine,” she said.
Burbock emphasized that Ukrainians have been suffering under the Russian terrorist occupation for more than two and a half years, and Germany is trying to continue to deliver humanitarian aid to eastern Ukraine together with international partners.
She also noted that Russian terror specifically targets people and normal life in Ukraine.
“Our full support is even more important at this time. We want peace, and Ukraine needs support in all its dimensions to ensure peace,” Burbank said.
Eurohold Bulgaria AD (Eurohold) and Euroins Insurance Group AD (EIG) have officially filed an arbitration claim against the Romanian government with the International Center for Settlement of Investment Disputes (ICSID) in Washington, DC, for more than EUR 500 million, according to the EIG website.
According to the report, the arbitration proceedings were initiated due to the Romanian state’s failure to comply with its obligations under the bilateral investment treaty between Bulgaria and Romania, including its obligation to ensure fair and equitable treatment for companies. EIG has been one of the largest investors in the Romanian insurance market, with investments of approximately EUR 280 million.
Eurohold and EIG are seeking damages for the actions of the Romanian authorities, which have damaged EIG’s business in Romania and completely destroyed it in the case of Euroins Romania, the statement said.
As reported, on March 17, 2023, the Romanian financial authority ASF revoked the license of Euroins Romania, which led to the bankruptcy of the insurer in June 2023.
October 25, 2023. Eurohold and EIG sent a notice of dispute to the Romanian government requesting an amicable settlement in the Euroins Romania case, but the Romanian government did not use this option.
Eurohold and EIG are being advised in the arbitration proceedings by Pinsent Masons, a leading multinational law firm, and by Gingov, Guginski, Ketchukov and Velichkov (DGKV), one of the largest and most prominent law firms in Bulgaria.
Euroins Insurance Group (EIG) is one of the largest independent insurance groups operating in Central, Eastern and South-Eastern Europe, represented in Ukraine by Euroins Ukraine.