Ukrzaliznytsia (UZ) will not receive funding from the state budget in 2024; at the same time, in 2023, it decreased by 2.4 times compared to 2022, to UAH 4.179 billion, according to a presentation made by Yevhen Lyashchenko, chairman of the board of UZ, during a conversation with journalists.
In 2022, UAH 10.095 billion was allocated from the state budget for UZ. The funds were allocated for the uninterrupted operation of rail transport under martial law, as well as for emergency repair work at railway infrastructure facilities, repair of traction and rolling stock, and payment of wages, UZ said.
In addition, the funds allocated from the state budget financed the design and implementation of work to restore the European standard 1435 mm railway track from Chop station to Uzhhorod station with the extension to the platform of Uzhhorod railway station. UAH 6 million was allocated for these purposes. Almost UAH 83 million was used as a postpaid payment for a batch of passenger railcars delivered under the contract signed in 2021.
Of the UAH 4.179 billion received from the state budget in 2023, UAH 1.905 billion was an advance payment for passenger railcars under the 2023 supply contract, UAH 1.736 billion was a postpayment for passenger railcars under the 2021 supply contract, and UAH 538 million was used to finance infrastructure projects.
In addition, part of the funds was allocated for the reconstruction of facilities with electrification of the Vasylkiv – Vasylkiv II, Cherkasy – Taras Shevchenko section; reconstruction of facilities with electrification of the Vasylkiv – Vasylkiv II. Taras Shevchenko; reconstruction of the railway track on the section Goskordor – Mostyska II – Sknyliv (Lviv) with the construction of a new terminal at Sknyliv station; construction of a railway road bridge over the Dnipro in Kyiv (with approaches) on the railway section Kyiv-Moskovsky – Darnytsia.
Nationalized Sense Bank (Kyiv) and FUIB (Kyiv) note the demand for the buy now pay later (BNPL) service, which differs from traditional bank installment plans, and allow its introduction in Ukraine in the near future.
“We think that the client has a request for such a product as a purely European BNPL. (…) Therefore, we are now working with two fintechs, studying this model together with them and the possibility of joining them, because they have just implemented the European BNPL model,” said Inna Tiutiun, a member of the Sense board, at the Digital Lending 2024 conference initiated by the Ukrainian Association of Fintech and Innovation Companies (UAFIC) in Kyiv.
FUIB’s Deputy Chairman of the Board Dmytro Polishchuk, for his part, noted that there is “definitely a demand for the service.”
“And the most important thing is that when we talk about BNPL or installment payments, etc., we forget that the key client of this story is the merchant. (…) There is a very high demand from large retailers for this model, so if there is demand, there will always be a supply,” the banker added.
“I think that this year either we or Sense (Bank – IF-U) or someone else … one of us will show something this year. Because there are a lot of ideas, research, experience and a desire to try, because no one in Ukraine has actually tried this (implementation of the BNPL service – IF-U),” suggested Polishchuk.
According to him, FUIB has already tested a large number of customer experiences with full-fledged BNPL models, in particular, the bank’s team has worked out the legal component, which raised certain questions.
“(…) because in fact, BNPL in its purest form is the provision of a short-term loan to a non-bank customer and without onboarding in Diia, BankID, identification, passports. That is, it is not actually a loan, but a payment method with a certain installment plan for several weeks,” explained FUIB’s Deputy Chairman of the Board.
“We are very positive about this story. I think that this year there will be surprises in Ukraine (in the financial services market – IF-U),” the banker summarized.
According to the National Bank of Ukraine, as of February 1, 2024, Sens Bank ranked 8th (UAH 131.89 billion) among 63 banks operating in the country in terms of total assets, while FUIB ranked 6th (UAH 158.86 billion). Sense Bank was among the three leaders in terms of net profit for 2023, it amounted to UAH 5.04 billion, while FUIB’s net profit was UAH 3.96 billion.
Oil prices, which ended last week at their highest levels since October, are falling on Monday.
The cost of June futures for Brent on the London ICE Futures exchange as of 8:10 a.m. is $89.91 per barrel, which is $1.26 (1.38%) lower than at the close of the previous trading. On Friday, these contracts rose by $0.52 (0.6%) to $91.17 per barrel.
Futures for WTI for May in electronic trading on the New York Mercantile Exchange (NYMEX) have fallen by $1.15 (1.32%) to $85.76 per barrel by this time. As a result of the previous trading, the value of these contracts increased by $0.32 (0.4%) to $86.91 per barrel.
Last week, Brent rose in price by 4.8%, WTI – by 4.5%.
Traders continue to monitor geopolitical news, given Iran’s threats to retaliate against Israel for the attack on the Iranian consulate in Damascus. Despite the sanctions, Iran is the third largest oil producer in OPEC, Market Watch notes.
Meanwhile, the Israeli Defense Forces withdrew all units from the southern Gaza Strip on Sunday night, The Jerusalem Post reported. According to the newspaper, only one Israeli army brigade has remained in place, tasked with ensuring the security of the corridor linking southern Israel with the Gaza coast.
“A concession such as the withdrawal from Gaza is in no way a reason to discount the threat of a more direct conflict between Israel and Iran,” said Vishnu Varathan, an analyst at Mizuho Bank in Singapore. – “The volatility of oil prices remains, and this is mainly due to geopolitics.
European Union ambassadors will continue discussing the introduction of restrictions on Ukrainian agricultural imports on Monday after Poland and France decided that the previously reached agreements were insufficient, Interfax-Ukraine reports citing Politico..
The publication notes that the European Council’s opinion on the need for tougher restrictions practically coincides with the position of the European Parliament. Last month, the European Parliament adopted the initiative of the European People’s Party, which is convinced of the need to strengthen import restrictions and expand them to more products, particularly grain.
It is a victory for the influential European farmers’ association Copa-Cogeca, which persuaded the European Parliament to partially reject trade liberalization with Ukraine.
“But while the result is great for the lobby group and its members, it is bad not only for Ukraine, which depends on income from agricultural exports, but also for EU citizens, who will face higher food prices due to less competition and supply,” the publication noted.
There is still no unified position in the European Parliament. Its two largest groups, the European People’s Party and the Socialists and Democrats, are ready to sign up to additional restrictions, while others, including Renew Europe and the Greens, insist on approving the initial compromise.
According to the Opendatabot Index, the top 10 most successful gambling companies increased their wealth 28 times last year. The Index includes 9 online casinos and 1 lottery operator. SpaceX (Cosmolot brand) became the leader, and Favbet (FAVBET brand) had the largest increase in earnings – 425 times.
The leaders of the gambling industry in Ukraine earned UAH 54.92 billion in 2023. This is 28 times more than in 2022 – UAH 1.94 billion.
The top list includes 9 online casinos, two of which are also engaged in betting activities, and 1 lottery operator. While in 2022, only a third of businesses from the Index managed to make a profit – we are talking about SpaceX, Ukr Game Technology, and Nate’s APPS – last year was profitable for all companies in the top 10.
SpaceX (known as Cosmolot), owned by Sergey Potapov and British businessman Arnulf Damerau, became the leader in the gambling business. The company’s revenue in 2023 exceeded the previous year’s figures by 51 times, reaching UAH 27.95 billion.
Favbet (FAVBET brand), owned by Andriy Matyukha, took the second place in the top list. In 2023, the company’s revenue increased by a phenomenal 425 times to UAH 9.79 billion. This is the largest increase among all gambling companies included in the Index. In addition to online casinos, the company is also engaged in betting activities.
Ukr Game Technology (PIN-UP brand) of Igor Zotko, last year’s leader of the rating, failed to hold the top spot despite a 4-fold increase in revenue over the year. With a revenue of UAH 3.62 billion, the company dropped to 3rd place.
Having increased its revenue 103 times and earned UAH 3.4 billion, Slots U.S.A. by Pavlo Zhurilo took the next position in the top. This company owns 2 online casino brands – SLOTOKING and 777.
The fifth place with revenue of UAH 3.1 billion is occupied by Vbet (VBET brand), owned by Armenian citizen Rudolf Poghosyan. In 2023, the business managed to increase its revenue 19 times compared to 2022. VBET generates revenue from online casinos, online poker, and betting.
Next in the top is GameDev (SLOTS CITY brand), owned by Israeli citizen Yaakov Finkelstein. The company’s revenue amounted to UAH 2.5 billion last year. This is 35 times more than in 2022.
The seventh place is taken by First Element (F1RST brand), owned by Artem Yushkov and Sergey Belik. The company managed to increase its revenue 43 times and earned UAH 2 billion last year.
Lemon (ChampionCasino brand), owned by Ruslan Drozdov, took the 8th position with a revenue of UAH 1.42 billion. This is 357 times more than in 2022.
The last online casino that managed to get to the top is Nate’s APPS (Super Gra brand), owned by a British citizen, Chubini Irakli. The company increased its revenue 55 times and earned UAH 604 million.
The Ukrainian National Lottery (UNL) was the only lottery operator included in the Index. Its revenue increased 2.5 times last year and amounted to UAH 516 million.
UNL is owned by a Chinese company founded by British businessman Foggy Michael John.
Who dropped out of the top in 2024?
Lottery operator M.S.L. (MSL brand) and Volna 4444 (Slot machine halls, 4444 brand) left the Opendatabot Index rating, having received only 1.5 times more revenue in 2023.
Last year, Favorit Casino received 8% less revenue than in 2022 and dropped out of the rating. And the license of Joker USA (JOKER brand) was revoked by KRAIL in December 2022.
Context.
In April, the Verkhovna Rada Committee on Finance, Taxation and Customs Policy approved Draft Law 9256d on the liquidation of the Commission for Regulation of Gambling and Lotteries (CRGL) and called for tighter control over the gambling business.
The draft law provides for the restriction of gambling advertising, limitation of visits and participation in gambling by vulnerable categories of the population during martial law, and establishment of additional criteria for license revocation.
In March, more than 21 thousand used cars imported from abroad joined the Ukrainian car fleet, which is almost 1.5 times more than in the same month of 2023, Ukravtoprom reported on its Telegram channel.
As reported, in February of this year, registrations of imported used cars increased by one third compared to February 2023 – up to 17.8 thousand units.
At the same time, according to the Association, 6.7 thousand new passenger cars were registered in March (an increase of 50%).
The largest share in the segment of used foreign cars last month, as before, belonged to gasoline cars – 48%. This is followed by diesel cars – 25%; electric cars – 16%; cars with LPG – 6%; hybrids – 5%.
Volkswagen Golf remains the leader among imported second-hand cars with 1146 registrations.
The top 10 most popular models also include: Renault Megane – 969 units; Skoda Octavia – 763 units; Volkswagen Passat – 653 units; Nissan Leaf – 5446 units; Volkswagen Tiguan – 544 units; Nissan Rogue – 523 units; Audi Q5 – 477 units; Tesla Model 3 – 456 units; and Audi A4 – 401 units.
The average age of used cars that switched to Ukrainian license plates in March was 9.4 years, just like in February.
In January-March, 55.5 thousand used cars imported from abroad were registered for the first time in Ukraine, which is 42% more than in the same period in 2023.
As reported, in March 2023, the demand for used foreign cars in Ukraine increased by 6% compared to March 2022 – up to 14.2 thousand units, and the leader was Renault Megan with 1105 cars.
For the whole of last year, registrations of such cars decreased by 45% by 2022 – to 214.4 thousand units.