Business news from Ukraine

Business news from Ukraine

ARSENAL INSURANCE (KYIV) RAISES KASKO PREMIUMS BY THIRD

Arsenal Insurance (Kyiv) for the six months of 2019 increased the volume of KASKO premiums by 33.6%, to UAH 383 million, according to a press release from the company.

“According to data of the Insurance TOP rating of insurers, the company showed the highest dynamics of growth in insurance premiums among the top five players (33.6%), as well as a high level of insurance payments (48.9%),” the press release said.

The company also reports that its share in the KASKO market exceeded 10% (the entire market collected UAH 3.77 billion).

The company insured more than 25,000 cars under KASKO contracts (7.33% of all cars insured under KASKO in Ukraine), including private car owners and corporate clients. OSAGO premiums grew by 7.4% and amounted to UAH 80.5 million.

It is also noted that for the first half of 2019, the insurer reimbursed for losses under KASKO insurance contracts to its customers in the amount of UAH 187.5 million, while OSAGO claim fee payments amounted to UAH 41.9 million.

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FIRST FLOOR OF CHERRY MALL IN VYSHNEVE TO BE LAUNCHED IN SEPTEMBER

The opening of all tenants of the first flow of Cherry Mall in Vyshneve, Kyiv-Sviatoshynsky district of Kyiv region, is scheduled for late September 2019. “By the end of September, all stores and outlets located on 3,400 square meters of the first floor will open in the new Cherry Mall with a total area of 18,000 square meters,” Project Manager, partner of UTG (an exclusive agent for renting out retail space in the Cherry Mall) Artem Neposedov said.

According to him, in particular, the first floor of the Cherry Mall includes Allo, Master Zoo, Farmacia, Italia del Gusto, Aurum, lifecell, D&P, Beer market, Coffee Beans, Hazelnut Chest shops and others.

In addition, in the Quarter of Gifts with an area of 240 square meters, Snuffbox, Mobi bug, Express manicure, operators of accessories and leather goods will begin working.

The shopping center has five levels, the total area is 18,000 square meters, lettable area is 15,000 square meters. At the same time, the occupancy of the shopping center as of September 12 is 90%.

As reported, in August 2019, Fozzy Group, the commercial and industrial group opened a new Fora supermarket with an area of 1,500 square meters in the Cherry Mall, expanding the food retail network to 244 stores.

According to company estimates, attendance at Cherry Mall in the first year will be about 15,000-18,000 people a day with the prospect of further growth to 20,000 people.

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DIESEL FUEL DEFICIT IN UKRAINE COULD AMOUNT TO 10% OF CONSUMPTION – EXPERT

The diesel fuel deficit in September may reach 60,000 tonnes, which is about 10% of the expected volume of consumption, said A-95 consulting group Director Serhiy Kuyun. According to him, the deficit, in particular, is facilitated by the actions of the Energy Customs, whose inspections suspended the shipment of imported diesel fuel at Yuzhny port.
“Yuzhny has stopped. It’s the second most powerful sea transshipment in Ukraine. One day’s worth of fuel shipment remains. The tanks contain 27,000 tonnes of diesel fuel from Greece, which have been transported here for several years. According to the latest data, the energy customs is preparing refusal documents for registering this batch … But the problem is that these 27,000 tonnes clogged the terminal, making it impossible to receive two more tankers carrying 30,000 tonnes scheduled to arrive in the second half of September. There is also decline in shipments from Belarus and still an empty pipe from Russia,” he said on Facebook.
Kuyun on Wednesday said due to the shortage the rush component in the price of railroad batches of diesel fuel reached UAH 2,900/t, an increase of more than 10%.

INVESTMENT OF EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT IN UKRAINE EXCEEDS $1 BLN

Investment of the European Bank for Reconstruction and Development (EBRD) this year exceeded $1 billion, EBRD Vice President Alain Pilloux has said. This week, by coincidence, the bank’s investments in the country in 2019 exceeded $1 billion. And by the end of the year, the EBRD is going to invest even more, he said at a meeting with reporters on Thursday.
This amount may not be enough, but this is clearly not a small amount of investment in the country, Pilloux said.
He also added that he had visited Ukraine six times over the past year. Pilloux said that the EBRD knows Ukraine “in detail:” the EBRD is working not only in Kyiv, but in all regions. The bank is working with cities, Ukrainian companies, he said. Pilloux said that they are not the kind of people who arrive from London or other places and look at Ukraine from windows of five-star hotels.

RUSSIA IS READY FOR GAS TALKS WITH UKRAINE AND EC

Russia is ready for constructive gas talks with Ukraine and the European Commission with regard to the extension of the contact on deliveries and transit of Russian oil to Europe through Ukraine, Energy Minister Alexander Novak told journalists before the beginning of the talks.
“We’re ready for constructive talks,” he said when asked about the possibility that a long-term contract with Ukraine will be signed.

FIRST FLOOR OF CHERRY MALL IN VYSHNEVE IS SCHEDULED FOR LATE SEPTEMBER – UTG

The opening of all tenants of the first flow of Cherry Mall in Vyshneve, Kyiv-Sviatoshynsky district of Kyiv region, is scheduled for late September 2019.
“By the end of September, all stores and outlets located on 3,400 square meters of the first floor will open in the new Cherry Mall with a total area of 18,000 square meters,” Project Manager, partner of UTG (an exclusive agent for renting out retail space in the Cherry Mall) Artem Neposedov said.
According to him, in particular, the first floor of the Cherry Mall includes Allo, Master Zoo, Farmacia, Italia del Gusto, Aurum, lifecell, D&P, Beer market, Coffee Beans, Hazelnut Chest shops and others.
In addition, in the Quarter of Gifts with an area of 240 square meters, Snuffbox, Mobi bug, Express manicure, operators of accessories and leather goods will begin working.
The shopping center has five levels, the total area is 18,000 square meters, lettable area is 15,000 square meters. At the same time, the occupancy of the shopping center as of September 12 is 90%.
As reported, in August 2019, Fozzy Group, the commercial and industrial group opened a new Fora supermarket with an area of 1,500 square meters in the Cherry Mall, expanding the food retail network to 244 stores.
According to company estimates, attendance at Cherry Mall in the first year will be about 15,000-18,000 people a day with the prospect of further growth to 20,000 people.