Business news from Ukraine

Business news from Ukraine

PRODUCTION OF PAPER AND CARDBOARD IN JAN-MAY IN UKRAINE DECREASED BY 45%, CORRUGATED PACKAGING – BY 57%

Production of paper and cardboard in Ukraine in January-May of this year decreased by 44.7% compared to the same period in 2021 – to 198.2 thousand tons, corrugated packaging – by 57%, to 126.9 million sq. m, according to the statistics of the association “UkrPapir”.
According to the statistics provided by the association to the Interfax-Ukraine agency, if in January of this year the production of paper and cardboard lagged behind last year by 4.6%, and corrugated boxes exceeded by 3.5%, then already in January-March, taking into account suspension of many enterprises with the beginning of a full-scale war of the Russian Federation against Ukraine, the production of these products decreased by 44% and 54%, respectively.
At the same time, some of the enterprises that stopped work at the beginning of the war never resumed it – in particular, due to the damage received in Rubizhne, the largest Ukrainian manufacturer of corrugated packaging, the Rubezhnoye Cardboard and Container Plant, stopped working (but its “daughter” in the Kyiv region – Trypilsky packing plant).
According to information in the disclosure system of the National Commission for Securities and the Stock Market (NKTSBFR), a remote extraordinary meeting of the plant’s shareholders is scheduled for July 4 with the issue of transferring the location of the Rubezhsky CPC legal entity to Kyiv.
According to UkrPapir, the damaged Rogan cardboard factory in the Kharkiv region has not resumed work (and does not plan to).
From the producers of corrugated packaging, Dunapak Tavria LLC, located in the Kherson region, also does not work (it produced boxes for Novaya Poshta – IF), and the Mena Pak company in the Chernihiv region, according to information available to the association, was able to resume work in May.
Zmievskaya paper mill (Kharkiv region) after three months of forced downtime in May reported the production of 1863 tons of recycled paper against 783 tons in May 2021.
At the same time, after the February suspension of production, the industry leader Kyiv Cardboard and Paper Mill has been operating since March (in terms of the production of corrugated packaging last year – the second after Rubezhansky CPC), Zhydachevsky Pulp and Paper (Lvov region) and Izmail Cardboard (Odessa region), Malinsky paper factory and “Papir-Mal” (Zhytomyr region)
In addition, according to statistics, the Lviv Cardboard and Paper Company did not stop working, maintaining the output of paper and cardboard in January-May at the level of last year, Poninkovskaya (Khmelnytsky region) and Lutsk (Volyn region) cardboard and paper factories, Kokhavinskaya paper mill (Lviv region).
As reported, in 2021, the production of paper and cardboard in Ukraine increased by 9.8% by 2020, to 898.2 thousand tons, corrugated boxes – by 5.9% to 752.9 million square meters.
Association “UkrPapir” unites 35 enterprises and companies, in particular 20 manufacturers of cardboard and paper products and printing enterprises, 11 distributors, two suppliers and suppliers of waste paper.

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INSURANCE COMPANIES OF UKRAINE IN 2021 INCREASED COLLECTION OF NET PREMIUMS AND PAYMENTS

Insurance companies of Ukraine in 2021 collected net premiums in the amount of UAH 45.987 billion, which is 14% more than in 2020 (UAH 40.350 billion), the National Bank of Ukraine reported on its website.
According to the regulator, the volume of gross insurance premiums collected by insurers last year amounted to UAH 49.708 billion, which is 10% more than a year earlier (UAH 45.185 billion). Of these, receipts from individuals amounted to UAH 27.912 billion, from reinsurers – UAH 1.890 billion (in 2020 – UAH 4.201 billion).
In addition, according to the regulator, in 2021, Ukrainian insurers paid UAH 17.671 billion of net insurance payments (+22.3% by 2020). The level of net payments increased to 38.4% from 35.8%.
According to the NBU, gross insurance payments increased by 20.9% to UAH 17.958 billion. The level of gross payments increased to 36.1% from 31.9%
According to the regulator, the volume of insurance payments owned by reinsurers in 2021 amounted to UAH 8.623 billion (+1.6%), of which non-resident reinsurers – UAH 4.9023.652 billion (+34.3%).
The regulator also reports that last year the volume of formed insurance reserves increased by 7.2% – up to UAH 36.566 billion. At the same time, with a decrease in the total assets of insurers by 1.1%, to UAH 64.209 billion, the volume of assets determined by law to represent insurance reserves increased by 2.3% compared to 2020, to UAH 47.159 billion. The volume of paid authorized capital decreased by 18.7% – to UAH 7.924 billion.
The regulator also reports that in 2021, 131.562 million contracts were concluded, while a year earlier, 120.586 million insurance contracts were concluded.
According to the NBU, the total number of insurance companies in Ukraine as of December 31, 2021 was 155, while on the same date a year earlier it was 208.

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UZBEK AUTHORITIES INTEND TO CONCLUDE NEGOTIATIONS ON JOINING WORLD TRADE ORGANIZATION

The Uzbek authorities intend to conclude negotiations on joining the World Trade Organization (WTO) in the near future, the press service for the Uzbek Investments and Foreign Trade Ministry said.
Deputy Prime Minister and Investments and Foreign Trade Minister Sardor Umurzakov spoke at the latest meeting of the working group on Uzbekistan joining the WTO, its fifth, in Geneva.
“The head of the Uzbek delegation confirmed firm determination to actively promote the process of the republic joining the WTO and concluding bilateral negotiations with all interested member states of the organization in the near future,” the press service said.
The working group has begun detailed discussion of the documents presented on Uzbekistan’s foreign trade conditions, including a fact-based digest, answers to the questions of member states, information on economic policy, measures implemented to privatize government assets, customs and tariff policy, state support for agriculture, and industrial subsidies, it said.
All 25 WTO member states speaking unanimously declared their full support for Uzbekistan’s entry into the organization, emphasizing that this will allow the republic to integrate into the multilateral trade system in full and give impetus for the further development of its trade-economic ties with all member countries.
“The results of the activities carried out by the interagency commission on work with the WTO within the framework of the process of Uzbekistan’s accession to the organization, including in the array of preparations for an expanded package of documents and bilateral talks on access to the country’s market, were given a positive assessment,” the press service said.
The Uzbek delegation is also holding a number of bilateral negotiations in Geneva on access to the goods and services market with the United States, the European Union, Canada, Brazil, Switzerland, Indonesia, Saudi Arabia, Mongolia, and other key WTO member states.

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BORYSPIL INTERNATIONAL AIRPORT IS ON SEVENTH PLACE AMONG TOP AIRPORTS IN EASTERN EUROPE

The British consulting company Skytrax has presented the winners of The World’s Best Airports in 2022 rating according to the results of a passenger survey, Boryspil International Airport took the seventh place.
According to a report on the airport’s website on Wednesday, the top ten included the airports of Batumi, Budapest, Tallinn, Bucharest, Riga, Tbilisi, Boryspil International Airport, as well as Belgrade, Bratislava and Zagreb airports.
In 2021, Boryspil ranked fifth in the Skytrax rating.
“The fact that Boryspil International Airport was ranked among the top ten airports demonstrates its standards of work with passengers to ensure their comfort and safety. The war suddenly suspended the operation of the airport. But nothing will change our confidence in the victory of Ukraine, its peaceful and independent development. I believe in the future of the main air gates of the country – Boryspil International Airport,” Oleksiy Dubrevsky, CEO of the airport, is quoted in the message.
Skytrax is a British consulting company that has been evaluating the quality of service for airports and airlines around the world since 1989.
The World Airport Awards are presented based on a survey of more than 13 million passengers at 550 airports around the world.

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CARDBOARD AND PAPER COMPANY RAISES PRODUCTION BY 43%

Cardboard and Paper Company LLC (Lviv), a major Ukrainian manufacturer of cardboard tubes and sanitary and hygienic products, increased production by 43.3% in January-May compared to the same period in 2021 – to UAH 403.7 million.
According to the statistics of the UkrPapir association provided to the Interfax-Ukraine agency, in natural terms, over this period, the company increased the production of paper – the basis for sanitary and hygienic products – by 16.1%, to 26.4 million tonnes, while increasing the production of toilet paper in rolls by 66.4% – to 1.8 million pieces.
At the same time, the output of cardboard products decreased by 4.8% – to 10.43 million tonnes.
According to the statistics of UkrPapir, the factory continued to work all months since the beginning of the year, reducing the production of paper and cardboard in March, but in April and May it already increased their production by 16.4% and 6.7%, respectively (compared to the same months last year).
Cardboard and Paper Company (until 2011 – Lvivkartonoplast) produces goods and semi-finished products from recycled cardboard (cardboard sheets, corners, tubes) and cellulose paper (toilet paper, towels, napkins of White Line and Papero trademarks).
In 2021, the company produced products worth UAH 782.7 million, which is 46.7% more than in 2020.

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