The Cabinet of Ministers of Ukraine has supported amendments to the Government Program for Improving Road Safety in Ukraine for the period until 2020, thanks to which 25 Weigh-in-Motion (WiM) scale systems will be installed and 50 portable truck weighing scales will be upgraded. According to the press service of the Infrastructure Ministry of Ukraine with reference to Minister Vladyslav Krykliy, the Cabinet of Ministers adopted the corresponding decision on Wednesday.
“Due to violation of the rules for the passage of oversized and heavy vehicles, roads are being destroyed. The government is spending on their repairs and the number of accidents on these roads is increasing. Today, out of the 78 portable truck weighing scales purchased in 2017, 50 require replacement of weighing elements. I am glad that the government supported the changes to the government program for improving road safety. Now, for effective overall weight control, 50 portable truck weighing scales will be updated, and 25 WiM complexes will be installed,” the press service said, citing the minister.
Accordingly, with the changes, the cost of installing modern WiM systems was increased by UAH 380.7 million, and the cost of the purchase of 50 portable truck weighing scales was increased by UAH 15 million.
In addition, it is envisaged to increase the number of tablets for employees of the National Police by 200 units (up to 1,200), to purchase 30 mobile diagnostic stations for checking the technical condition of vehicles and 30 road laboratories for checking the condition of the road network. It is also planned to purchase another 10 rescue vehicles for the State Emergency Service in order to reduce the time of arrival of the service to the accident site to 7-10 minutes.
Irish Ryanair Holdings Plc, Europe’s largest air low-cost carrier, is intended to resume flights from Ukraine to Italy starting from July 6, Ryanair Ukraine reported on Telegram.
“The largest Europe’s low-cost Ryanair planned opening of the regular flights from Ukraine to Italy in July,” reads a report.
In particular, Ryanair will operate flights from Kyiv, Lviv, Kharkiv and Odesa.
Thus, starting from July 6, the airline plans to resume flights Kyiv-Rome, Kyiv-Milan (Bergamo), Lviv-Bologna, Kharkiv-Milan (Bergamo), Odesa-Bologna, Odesa-Milan (Bergamo).
Starting from July 7, Ryanair plans to launch flights on the route Kyiv-Bologna, Kyiv-Catania, Lviv-Milan (Bergamo).
From July 8, the resumption of flights Lviv-Rome and Odesa-Rome is expected.
It was reported that the prices started from EUR 40 for one-way ticket. The tickets for purchase are available in the reservation system on the carrier’s website.
A meeting of the Executive Board of the International Monetary Fund (IMF) on the approval of a new Stand-By Arrangement for Ukraine is scheduled for June 9, according to the fund’s website.According to the report, the board at the meeting will also assess the previous EFF program, opened in 2015.
Top ten largest pharmacy chains will consolidate up to 70% of the medicine market in the coming years, Director General of Teva Ukraine pharmaceutical company Dmytro Spitsyn has said. “The pharmacy channel is quickly and aggressively consolidating. Now the 10 largest chains occupy about 55% of the market. I think that in a few years this share will grow to 70%. Crises accelerate the absorption process,” he said in an interview with Interfax-Ukraine.
Spitsyn also predicted that the lockdown crisis caused by COVID-19 in the pharmaceutical market “will accelerate the mergers and acquisitions that have been going on before and accelerate the processes of concentration and consolidation in the distribution channel.”
“This is also quite expected, because who was rich, he became richer during the crisis. Large companies will continue the process of acquisitions,” he said.
According to Spitsyn, at present, “the distribution market is already quite consolidated enough, because three companies occupy 90% of the market, including almost 80% of the market occupied by two companies.”
According to SMD, the Teva pharmaceutical company, according to the results of 2019, occupies the eighth position in the retail segment of the Ukrainian pharmaceutical market. Its share was 2.7% in monetary terms.
Prime Minister of Ukraine Denys Shmyhal states that the government will launch domestic flights from June 5, and foreign flights from June 15.
“From June 5, we will launch domestic flights, and foreign flights – from June 15. And we want cafes and restaurants to start hosting visitors inside from June 5,” he said at a government meeting on Wednesday.
Busin Insurance Company (Kyiv) collected UAH 919,000 of gross premiums in January-March 2020, which is 97.4% lower than the volume of premiums collected for the same period in 2019, the Standard-Rating Agency has said.
The agency updated the insurer’s credit and financial stability rating at uaAA+ on the national scale based on an analysis of its financial statements for the first quarter of 2020.
Receipts from individuals in the company increased almost eight times, to UAH 213,000, and from reinsurers, on the contrary, decreased by 98.87%, to UAH 289,000.
The agency said that the sharp decline in gross business volumes is due to the specific types of insurance that the company provides.
Insurance payments allocated to reinsurers in the first quarter of 2020 compared to the same period in 2019 decreased by 26.62%, from UAH 11.2 million to UAH 8.2 million. As a result of the outpacing rates of gross premium reduction compared with the volume of premiums sent to reinsurers, the coefficient of dependence on reinsurance grew to 892.79%.
The company paid customers UAH 2.117 million of insurance payments and indemnities for the relevant period of 2020, which is 50.90% less than the volume of payments for the first quarter of 2019. However, a larger reduction in gross premiums caused an increase in the level of payments to 230.53%.
The financial result from the operating activities of Busin insurer amounted to UAH 8.863 million, and net profit reached UAH 27.031 million.
The company’s assets grew 8.65 times, to UAH 2.694 billion, cash and cash equivalents by 22.88%, to UAH 115.980 million by March 31, 2020. The company’s net worth had a rise of 14.85%, to UAH 130.770 million, liabilities increased from UAH 197.379 million to UAH 2.563 billion.
Thus, at the end of the first quarter of 2020, the obligations of the insurer were covered by net worth by 5.10%, and cash covered 4.53% of the company’s liabilities.
Busin insurance company was registered in February 1993. It specializes in risk insurance.
