PJSC Zhydachiv Pulp and Paper Mill (Lviv region), which is part of Osnova holding, in January-August 2021 increased production by almost 2.1 times compared to the same period in 2020, to UAH 256.3 million.
According to the statistics provided to the Interfax-Ukraine agency by the UkrPapir association, the plant thus maintained the growth rate of this indicator achieved in January-July.
In natural terms, the output of paper for the eight months increased 2.3 times – up to 4,470 tonnes. The production of containerboard (including corrugated paper) increased by 32.3% – to 9,520 tonnes, but production of corrugated containers decreased by 2% – to 9.56 million square meters.
Zhydachiv Pulp and Paper Mill was put into operation in 1951.
The capacity of paper production at Zhydachiv Pulp and Paper Mill (base paper for corrugation, cardboard liner, and cover paper) is 40,300 tonnes per year, cardboard production – 50,000 tonnes, corrugated board and corrugated packaging – 100 million square meters, and lumpy gaskets – 48 million pieces per year.
National bank of Ukraine’s official rates as of 27/09/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of September 27
One troy ounce=31.10 grams
Ukraine is surprised and disappointed with Hungary’s decision to sign a new long-term contract with Russia’s Gazprom in Budapest on September 27, 2021, regarding gas supply to Hungary bypassing Ukraine, the Ukrainian Foreign Ministry said in a statement.
“We view this as nothing but a political, economically unfounded decision, which has been made to the benefit of the Kremlin and to the detriment of national interests of Ukraine and Ukrainian-Hungarian relations, in violation of the principles of the Treaty of Neighborliness and Cooperation between Ukraine and the Hungarian Republic dated December 6, 1991,” the statement said.
The Ukrainian Foreign Ministry has initiated a delay of the next meeting of the Joint Ukrainian-Hungarian Intergovernmental Economic Cooperation co-chaired by the two foreign ministers, which was planned for September 29-30.
“Earlier today, the Ukrainian Foreign Ministry initiated a delay of the Commission meeting, considering that the Hungarian-Russian gas agreement will have a substantial influence on the energy security of Ukraine and Europe, and will create new circumstances that require a comprehensive analysis of risks and threats and coordinated efforts of countries of the region in order to minimize its negative implications,” the statement said.
The Ukrainian side will also apply to the European Commission to provide an assessment of the conformity of the new Hungarian-Russian gas agreement with European energy legislation.
The U.S. publication on cryptoassets Bitcoin Magazine has announced the launch of an Eastern European bureau in Kyiv, which will cover events in the world’s fastest growing cryptocurrency markets.
“While the world’s economists are fixated on superpowers like China and the United States, the future of money is being decided in places like El Salvador and Ukraine,” CEO of Bitcoin Magazine David Bailey said in the press release.
According to him, Bitcoin Magazine already has editorial offices in Seoul and Shanghai, and the bureau in Kyiv will become the third regional office. The decision to open an office in Kyiv was influenced by the Verkhovna Rada of the law on virtual assets.
The publication also refers to the estimates of experts (The Global Crypto Adoption Index), according to which Ukraine is home to the fourth-largest population of bitcoin users in the world. “The team making up the bureau will feature a group of the most talented Bitcoin journalists in the region, who will be producing top quality written, video, and podcast content in Ukrainian, Russian and Kazakh,” the publication said.
Thus, after a new strategic partnership, which will be announced before the end of September, Bitcoin Magazine will cover events in 11 countries and serve 240 million people who currently live in a large CIS region, including Ukraine, Russia and Kazakhstan, the publication said.
Bitcoin Magazine (the United States), a print and online publication that, since 2012, has provided analytical, research, educational and intellectual materials at the intersection of finance and technology. It is also the organizer of one of the largest annual events in the Bitcoin cryptocurrency industry in 2022.
The share of insurance in Ukraine’s GDP is very low and has a downward trend: since 2014 and as of June 30, 2021, it has decreased from 1.69% to 1.14% (by 32.5%), Director General of the Insurance Business Association Viacheslav Cherniakhovsky said at the XXI International Financial Forum in Odesa.
“We have not yet reached the indicators of the first half of 2017 in premiums if we count the market size adjusted for inflation. Achieving the level of penetration of 2% of GDP, laid down in the updated Financial Sector Development Strategy of Ukraine until 2025 year seems unlikely by the end of 2024, especially if there are no changes in the taxation of enterprises when they conclude long-term life insurance contracts for their employees,” he said.
Speaking about the steps that would contribute to the development of the market, Cherniakhovsky noted the inadmissibility of such practices as the accreditation of insurers by banks. “Not a single legislative document contains any accreditations. This is an anachronism and remnants of monopoly. On the contrary, there is a provision of the law on insurance, according to which the consumer has the right to choose an insurer, and it is forbidden to impose the conclusion of an insurance contract within the framework of other legal relations. Banks can only nominate requirements for the structure of the insurance product provided by the insurance company – definitions of insurance amounts, a list of risks, the size of the franchise, the terms of payment and cases of refusal in it,” he said.
Cherniakhovsky said that the National Bank of Ukraine (NBU), as a general regulator for the banking and insurance market, should stop this practice. “This is necessary for all consumers who receive loans now, next month, and not sometime in the future. The practice is unacceptable when banks oblige insurance companies to double prices for owners of collateralized property to receive not only interest on the loan, but and a commission of 50% of insurance payments,” he said.
According to the expert, what they are now trying to consolidate with the new law on the specifics of insurance of agricultural products with state support, in fact, is also a kind of “accreditation”. This approach is unacceptable, since any company that has received the appropriate license has the right to operate in the market for this type of insurance, he said.
