Business news from Ukraine

Business news from Ukraine

RATING AGENCY “EXPERT-RATING” SUSPENDS STABILITY RATING OF INSURANCE COMPANY “KRAINA”

The Expert Rating rating agency has suspended the financial stability rating of the insurance company Krayina (Kyiv) at the company’s request, the RA website reports. As reported, Expert Rating updated the company’s rating at the level of “uaAA +” on the national scale in the first quarter of 2022.

During this period, the gross insurance premiums of IC “Kraina” in January-March 2022 amounted to UAH 125.2 million, which is 17.7% less compared to the same period in 2021.

In the first quarter of 2022, IC “Kraina” made UAH 60.28 million of insurance payments and indemnities, which is 31.32% less than in the same period of 2021. At the same time, the level of payments in the first quarter of 2022 compared to the first quarter of 2021 decreased by 9.55 p.p. up to 48.16%.

The equity capital of the company as of March 31, 2022 increased by 3.65% to UAH 155.57 million, while its gross liabilities increased by 5.63% to UAH 181.45 million. As a result, the level of coverage of the insurer’s liabilities by equity capital decreased by 1.64 percentage points. – up to 85.74%.

In the period under review, the volume of cash and cash equivalents of the company decreased by 38.61% and amounted to UAH 62.12 million, while the indicator of coverage of the insurer’s obligations with cash decreased by 22.99 percentage points. and amounted to 34.24%.

IC “Kraina” has been operating in the insurance market of Ukraine since 1994. It has licenses for 23 types of insurance.

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UKRAINIAN PRODUCERS ASSOCIATIONS CALL FOR MORATORIUM ON RAIL FREIGHT TARIFF INCREASES

Associations of Ukrainian manufacturers call on the Ministry of Infrastructure of Ukraine to impose a moratorium on raising tariffs for rail freight traffic for the period of martial law and six months after its termination.
“There was no real discussion between shippers and the carrier about a compromise solution to increase tariffs – we were simply presented with a fact. When Ukrzaliznytsia announced the discussion of raising tariffs by 70%, the order to increase tariffs had already been signed. We had specific proposals: to introduce a moratorium for the period of martial law and six months after it on the increase in tariffs within the borders of Ukraine, and all related services,” Liudmyla Kripka, the Executive Director of the Ukrcement Association, said at a press conference at the Interfax-Ukraine agency on Thursday.
According to her, Ukrzaliznytsia did not take into account the transportation of raw materials, coal, fillers in the infrastructure component of transportation, and did not include the tariff distance, which is why the cost of the final product will increase more significantly than in the carrier’s forecast.
“The impact on the cost of the final product will be much higher than presented by Ukrzaliznytsia. On the example of cement: for us, the main raw material is limestone, and there the highest figure is 55%. Other industries fell into the values of 0-13%,” she said.
In addition, from August 1, the calculation for the use of wagons will be changed to the actual one instead of the planned one, which will also increase the costs of shippers due to delays in border crossings, the expert noted.
Oleh Misiuk, a representative of the Ukrainian Lime Industry Association, pointed out that the decision to raise tariffs would have a significant impact on the lime market, which is already undergoing a significant decline in production volumes.
“Before the war, the cost of delivery from the west of Ukraine to Dnipro was UAH 400 per tonne, now it is UAH 650. With a producer price of up to UAH 300/tonne, the consumer overpays another UAH 200-250 from July 1. In general, lime production has fallen from the pre-war 1.2 million tonnes per month to 350,000 tonnes in May-June. The decision of Ukrzaliznytsia to increase tariffs will hit the market even harder, we expect a fall by another 30-40%,” he said.

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UKRAINIAN PARLIAMENT ADOPTS LAW ON STATE REGISTRATION OF HUMAN GENOMIC INFORMATION

The Verkhovna Rada has adopted a law on state registration of human genomic information.

The adoption of the relevant bill No. 4265 was generally supported by 256 people’s deputies at the plenary session on Saturday, Yaroslav Zheleznyak, a member of the Holos faction, said on his Telegram channel.

The document provides for the regulation of both mandatory state and voluntary registration of human genomic information.

The law clearly defines the categories of persons subject to mandatory registration. We are talking about persons brought to criminal responsibility for committing intentional crimes against life, health, sexual freedom, sexual inviolability of a person, in respect of which a measure of restraint has been chosen; on persons who have committed crimes against life, health, sexual freedom, sexual inviolability of a person, to whom medical measures have been applied by a court decision.

The norms of the law also apply to persons convicted of committing intentional crimes against life, health, sexual freedom, sexual inviolability of the person; convicted and serving a sentence of imprisonment or having an unexpunged or outstanding conviction for committing grave or especially grave crimes, as well as all categories of crimes against sexual freedom and sexual inviolability.

In addition, unidentified corpses, missing persons, as well as close relatives of missing persons are subject to mandatory registration.

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TWITTER IS SUING ELON MUSK

Twitter management intends to sue Tesla CEO Elon Musk, who announced his refusal to buy the social network, Bret Taylor, chairman of the company’s board of directors, said.
“Twitter’s board of directors is committed to closing the deal at the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement. We are confident we will prevail in the Delaware court,” Taylor tweeted.
Musk previously notified Twitter that he was pulling out of the purchase deal. “Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of the Agreement,” a spokesman for the company said in a letter.

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MAJORITY OF MEDICAL SPECIALISTS, WHO FLED ABROAD, HAVE RETURNED TO UKRAINE, CONTINUE TO WORK – EXPERTS

The majority of medical experts, who had fled abroad due to the Russian full-scale invasion of Ukraine, have come back and continue to work, practitioners and experts in the sphere of medicine said during a roundtable discussion hosted by the Interfax-Ukraine News Agency on Thursday.
“For the moment, 98% of personnel are in place. Some of them left for western Ukraine or abroad in the first months of the war, however, today almost all of them have come back and continue to work,” Head of the Department of Cardiometabolic Diseases of the Clinic for Adults of the State Institution “Center for Pediatric Cardiology and Cardiac Surgery of the Ministry of Health of Ukraine,” PhD in Medical Sciences Yevhen Marushko said.
“Speaking about the personnel of the Filatov Institute, almost none of our employees left. Some 99% of our personnel stay here. There is a shortage of specialists in very specific profiles as there are few of them all over the country. If specialists, whom we already lack, leave, this has a negative impact on the level of medical assistance,” ophthalmologist of the highest category, head of the department of inflammatory pathologies of the eye and microsurgical treatment of their consequences at state institution “Filatov Institute of Eye Diseases and Tissue Therapy of the National Academy of Medical Sciences of Ukraine” Oleksandra Zborovska said.
In turn, Business Development Director of ADONIS medical group of companies Svitlana Lonska said that the majority of the personnel of private medical institutions have returned, while those who are abroad also plan to come back soon.
Despite the fact that a maternity hospital was destroyed during large-scale military operations in Kyiv region, the doctors did not suspend their work and had to deliver babies under emergency conditions, she stressed.
At the same time, Head of the Department of Nephrology and Renal Replacement Therapy of the National University of Health Protection, owner of the Nephrology Clinic, Professor Dmytro Ivanov noted that the doctors and senior staff, who have returned to Ukraine, thus proved the level of their reliability.
“In the first two months we lost more than 60% of doctors and around 75% nurses in Kyiv in the first two months. Almost no medical personnel remained in the districts of Ukraine where military operations were conducted. Around 90% of medical staff have returned as of today. I think this could be considered a criteria of reliability of doctors and senior staff, for example, heads of departments and chief doctors,” Ivanov said.
Chief Physician of the National Cancer Institute, PhD in Medical Sciences Andriy Beznosenko said that the patient flow significantly reduced at the National Center Institute in the first month of the war.
“We received 150 patients during the first month of the war, while last year we received 2,700 patients during the same period of time,” he said.
The expert also noted that the specialists of the National Cancer Institute do the utmost to monitor the situation with the oncology centers in the temporarily occupied territories.
“Today, Kherson, Melitopol, Mariupol oncology centers and the one in Krasnyi Luch are under occupation. They lack personnel and there are patients there. But there are no medicines for treatment and we are unable to deliver them,” Beznosenko said.

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ALMOST BILLION MUSLIMS AROUND WORLD CELEBRATE MAIN ISLAMIC HOLIDAY TODAY

Almost a billion Muslims of the world celebrate this Saturday the main Islamic holiday – the Day of Sacrifice, also known as Eid al-Adha and Eid al-Adha.
Every Muslim who has the means to do so is obliged to sacrifice an animal, and one person can be limited to a sheep, and one head of cattle is enough for a group of up to ten adherents of Islam. In this case, the animal must be quite young and without physical defects. Two-thirds of the meat should be distributed to the poor, the rest goes to the festive meal of the family.
The sacrifice is made by Muslims in memory of how the prophet Ibrahim was ready to sacrifice his son Ismail to the Almighty in order to prove devotion to God. However, the Almighty, having tested Ibrahim, stopped the hand raised above his son and sent Ibrahim a white lamb, which was sacrificed.
During the days of Eid al-Adha, it is customary to wear new or at least better clothes, go to visit, give gifts and visit the graves of loved ones.

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