The Cabinet of Ministers of Ukraine has obliged institutions of education, health care and other state contractors carrying out public procurement for budget funds to buy a number of products from the electronic catalog if their cost exceeds UAH 100 thousand.
According to the Ministry of Economy, Relevant amendments to the decree № 1178 on the peculiarities of public procurement for the period of martial law, the government adopted at a meeting on Friday.
“The Ministry of Economy has analyzed what set of products is most often purchased by educational institutions, medical institutions, and proposed amendments to the current regulations designed to simplify the procurement of such products for customers and suppliers. The electronic catalog procurement mechanism is the most understandable and accessible, so we suggest that customers and suppliers use the electronic catalog when making purchases. The decision will also contribute to the prevention of possible abuses and reduce corruption risks in procurement,” explained Deputy Minister of Economy Nadezhda Bigun.
The list of goods to be purchased through the catalog includes, in particular, meat – chicken, pork, beef, frozen fish, eggs, milk and dairy products including sour cream and kefir, cheese products, beet sugar, pasta, flour and various cereals, vegetables and fruits – cabbage, beets, carrots, apples, potatoes, etc.
The electronic catalog Prozorro Market is part of the reforms in the field of public procurement and allows customers to conduct competitive procurement of typical goods in just nine days, collecting competition twice as high as during the classic tender procedure. The administrator of the catalog in terms of consumer goods, including food products, has been determined by the centralized procurement organization GU “Professional Procurement”.
“Prozorro Market is not only a fast, convenient, safe, with minimal expenditure of resources of the customer procurement method, but also one where the savings are three times higher than in open tenders. The amount of food purchases in the electronic catalog already exceeds 2 billion UAH, and during 2023 every third purchase in the system was made using our tool”, – said the director of the State Institution “Professional Procurement” Eugene Yakubovsky.
It is assumed that if the purchase by electronic catalog by request for proposals did not take place, the customer can conduct a purchase at open tenders, without increasing the expected value of the purchase. Or procurement by request for proposals, taking into account the peculiarities of public procurement during martial law.
By the same decision, the government prohibited the purchase of goods, works and services from individuals and legal entities from the Russian Federation, Belarus and Iran, from companies whose ultimate beneficiaries or owners of more than 10% of shares are citizens of these countries. Exceptions are citizens legally residing in Ukraine; assets of citizens from these countries in the companies-suppliers are transferred to ARMA; goods from the Russian Federation and Belarus are necessary for repair and maintenance of goods purchased before October 19, 2022.
CABINET OF MINISTERS OF UKRAINE, food procurement, Prozorro Market
On February 7-8, the capital of Ukraine hosted the first Kyiv International Cybersecurity Forum 2024: “Resilience in Cyber Warfare”.
This time, the topic of cybersecurity brought together government and business representatives, the cyber community, technology companies, and leading industry experts.
The Forum was opened by Oleksiy Danilov, Secretary of the National Security and Defense Council of Ukraine. In his speech, he noted that the digitalized world requires serious cyber defense and emphasized that the implementation of Ukraine’s digital policy is essential for Ukraine’s national resilience, especially during the war with the Russian Federation, when the country’s high degree of digitalization helps to overcome the challenges posed by aggression. Oleksiy Myacheslavovych also announced the further development of cyber diplomacy: “In our country, I think, there will be a position of a cyber diplomat in the near future, because this is a very, very important area of the struggle for light in this world.”
Guests of the event were greeted during the official opening: Mykhailo Fedorov, Vice Prime Minister for Innovation, Education, Science and Technology Development – Minister of Digital Transformation of Ukraine, Anton Demokhin, Deputy Minister of Foreign Affairs of Ukraine for Digital Development, Digital Transformation and Digitalization, Kateryna Chernogorenko, Deputy Minister of Defense of Ukraine for Digital Development, Digital Transformation and Digitalization, Michael Dignam, CEO of CRDF Global.
“Despite the ongoing war in cyberspace and in the real world, we have to promote two ideas. The first is resilience, the theme of the forum that has brought us together. Resilience reflects the strength and flexibility of a society in the face of adversity. Ukraine has shown the world what it means to be resilient in response to cyberattacks and during connection failures, and we are happy to learn from you. The second is digital solidarity. Threats and challenges in cyberspace provide us with unique opportunities and a sense of urgency to stand shoulder to shoulder with partners and allies, to build and strengthen ties, to act together, to be united with Ukraine,” said Nathaniel Fick, U.S. Ambassador-at-Large for Cyberspace, U.S. Department of State.
Representatives of the international cyber community also spoke at the Kyiv International Cybersecurity Forum, including: Johannek Belfort, Director for Security and Defense Policy at the European External Action Service, Johan Lepasar, Director of the EU Cyber Security Agency (ENISA), Mart Noorma, Head of NATO’s Joint Cyber Defense Center of Excellence (CCDCOE), Jen Easterly, Director of the US Cyber Security and Critical Infrastructure Protection Agency (CISA).
In total, the two days of the Forum featured 10 panel discussions and over 35 expert presentations covering a wide range of topics, including: the role of cybersecurity in modern warfare, Ukraine’s experience in cyber warfare, cyber warfare and international law, cyber diplomacy, strengthening the resilience of the national cybersecurity system through education, messenger security, the role of cyber threat intelligence, regional cybersecurity, and others.
As part of KICRF, a two-day cybersecurity competition Capture the Flag was held. Twenty-one teams took part, with a total of 121 specialists from the public and private sectors. According to the competition scenario, each team had to complete 6 challenging tasks that simulated real attacks on Ukrainian infrastructure. At the end of the second day, the organizers and judges selected three winners (1st place: #dotxyz team, 2nd place: Pspatron team, 3rd place: Gos team) who received certificates for online training courses and winners’ cups.
The event also included a meeting between representatives of the EU Agency for Cybersecurity (ENISA) and the National Coordination Center for Cybersecurity (NCCC) and the State Service for Special Communications and Information Protection (SSSCIP). The consultations resulted in an agreed work plan of cooperation for the next two years. The document contains more than 20 specific steps aimed at supporting Ukraine on its way to EU membership, harmonizing cybersecurity legislation, exchanging experts, etc.
Representatives of the Tallinn Mechanism also gathered in Kyiv as part of the International Cybersecurity Forum. They issued a joint statement by all the member states of the Tallinn Mechanism, which was established on December 20, 2023 and supported by Ukraine, Canada, Denmark, Estonia, France, Germany, the Netherlands, Poland, Sweden, the United Kingdom, and the United States. The mechanism aims to coordinate the efforts of the parties and promote capacity building in the field of cybersecurity. All this is to help Ukraine protect itself from Russian aggression in cyberspace and meet its long-term cyber resilience needs.
“As Russia’s destructive cyber operations and cyber activities are expected to continue for the foreseeable future, the partners of the Tallinn Mechanism are ready to continue their support for as long as necessary,” the statement reads.
The Forum’s organizing team plans to continue working on the project and aims to make this event a powerful annual platform for discussing cyber resilience issues.
The event was launched by the National Coordination Center for Cybersecurity (NCCC) under the National Security and Defense Council of Ukraine and the U.S. Civilian Research and Development Foundation (CRDF Global). The Forum was supported by the U.S. Department of State.
The Security Service of Ukraine, the Ministry of Defense of Ukraine, the Ministry of Digital Transformation of Ukraine, and the Ministry of Foreign Affairs of Ukraine joined the organization of the Forum.
Technology partners: Cyber Unit Technologies and the Institute for Cyber Warfare Research (ICWR).
Partners: Kóryos, Bakotech, Brave1, DC8044, CyberDiia, USF, Cyberlab.UA, UnderDefense, BugStream, Voda.ua.
General media partners: MC.today and ITC.UA.
Information partners: Interfax-Ukraine, Ukraine Business News, ArmyInform and SPEKA.
For more information about Kyiv International Cybersecurity Forum, please visit cyberforumkyiv.org.
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The Antimonopoly Committee of Ukraine (AMCU) has authorized Cliff Capital Growth Fund Vcic Ltd (Cyprus), a company associated with Kovalska ICG, to acquire a stake in Unit B04 LLC.
According to the committee’s decision of February 8, the Cypriot company received permission to acquire a stake that ensures exceeding 50% of the votes in Unit B04’s supreme management body.
Kovalska Group CEO Serhiy Pylypenko told Interfax-Ukraine that Kovalska Real Estate was the developer of B04.
“Now, by increasing our share in the property through a shareholder company, we intend to become the sole owner of this ultra-modern facility,” Pylypenko said.
According to Opendatabot, Cliff Capital Growth Fund Vcic Ltd currently owns 50% of the B04 building of the Unit.City innovation park. Another 50% is owned by Unit Holdings LLC, the ultimate beneficiary of which is businessman Vasyl Khmelnytsky.
As reported, the AMCU approved the acquisition of Kovalska’s stake in buildings B04 and B06 from Unit.City in 2021. The group planned to invest $70 million in the construction of five business centers in Unit.City – B01, B02, B03, B04, B06.
The Cliff Capital Growth investment fund is managed by Guardo Assets Management, which also manages the Aksioma, A Realty, AC Real, and Vingis funds.
Kovalska Industrial and Construction Group has been operating in the Ukrainian construction market since 1956. It unites more than 20 enterprises in the field of raw materials extraction, production and construction. Its products are represented by the brands Concrete by Kovalska, Avenue, and Siltek. Kovalska’s enterprises operate in Kyiv, Zhytomyr, Lviv, and Chernihiv regions. The aerated concrete plant in Kherson region has not been operating since the beginning of the occupation. The group also includes Kovalska Real Estate, which is engaged in the construction of residential properties in Kyiv. Its portfolio includes more than 20 completed residential projects.
UBS analysts predict a further increase in gold and silver prices in 2024 on expectations that the US Federal Reserve will move to lower interest rates.
“We expect the Fed’s policy easing to drive gold higher,” said precious metals analyst Johnny Teves, adding that a weaker dollar would also contribute to this.
He predicts that the price of gold will reach $2200 per ounce by the end of this year, CNBC reports.
As interest rates fall, gold becomes more attractive compared to alternative investments such as bonds. At the same time, lower rates weaken the dollar, making gold cheaper for international buyers, which leads to an increase in demand.
Despite the fact that there is still a lot of uncertainty about the timing and extent of rate cuts, UBS still expects the Federal Reserve to move to ease monetary policy.
The attractiveness of gold as a safe haven increased amid the deteriorating geopolitical situation in the Middle East last October. In January, prices reached a record $2100 per ounce.
“We think that investors will invest in gold in the face of great macroeconomic uncertainty and geopolitical risks,” Tevez said. The prospects for silver, the “poorer cousin,” are also optimistic, and it is likely to “really shine,” he said.
“We think that silver can succeed in the scenario of easing the QE,” the expert said. According to him, the rate of rise in the value of silver may outpace the growth of gold.
According to the Silver Institute, global demand for silver will increase by 1% in 2024 and reach 1.2 billion ounces. If the expectations are met, this will be the second highest figure in history.
“Increased industrial demand is the main catalyst for the growth of global demand for the metal,” the industry association said in a statement.
Global silver supplies are expected to grow by 3% to 1.02 billion ounces, which could be the highest in eight years.
Quotes of gold futures contracts during trading on Friday are down 0.5% to $2021.6 per ounce. Silver is up 0.5% to $22.67 per ounce.
In 2023, Credit Agricole Bank increased its net profit to UAH 2.8 billion from UAH 0.3 billion in 2022, the press service of the financial institution reported on Friday.
“This result is largely due to high liquidity in the market and a wide spread between interest rates, which is more likely to be temporary. In 2024, there will be a gradual transition to a more normal functioning of the banking market, although military risks remain relevant,” the NBU said in a statement.
It is noted that Credit Agricole’s net banking income last year amounted to UAH 8.8 billion, which is 37% higher than the result of 2022 (UAH 6.4 billion). According to the press service of the financial institution, this figure was achieved due to high net interest income generated by a strong liquidity position, while operating expenses of the bank increased by 21% from UAH 1.9 billion to UAH 2.4 billion.
In particular, personnel costs increased by 20% by 2022, while other expenses increased by 25% due to investments in IT infrastructure to ensure uninterrupted operation within the Power Banking project, development of mobile applications for individuals and IT Professionals clients, as well as improvement of the Internet banking solution for legal entities (CORPEX).
It is indicated that the bank’s deposit portfolio exceeded UAH 90 billion, having increased by 41%, or UAH 26 billion, which, according to the bank, is a manifestation of customer confidence.
According to the information, in 2023, the bank added about UAH 1 billion in reserves (in 2022 – UAH 6.3 billion) and maintained its loan coverage ratio at 25.8%.
“Asset quality is stabilizing, and the NPL ratio has been consistently declining for six months in a row, reaching 12.9% as of December 2023,” the bank said.
It is noted that Credit Agricole has strong liquidity positions in both hryvnia and foreign currency: LCR at 277% and NSFR at 345%. Meanwhile, the regulatory capital adequacy ratio (N2) was 28.3% in December 2023.
In 2023, Credit Agricole will pay UAH 3.3 billion in taxes and contributions, the press service informed.
According to the National Bank of Ukraine, as of December 1, 2023, Credit Agricole Bank ranked 11th in terms of total assets (UAH 103.07 billion) among 63 operating banks in the country, with 141 branches. The bank is fully owned by French Credit Agricole SA.
The team of the transformation office of state-owned Ukreximbank (Kyiv) is actively considering the integration of artificial intelligence (AI) into its systems and has already started using it in pilot modes, said Andriy Malakhov, head of the transformation office of the financial institution.
“That is, in parallel with the internal transformation, we understand that if we do not develop our skills in step with the market, we will simply not be competitive in five years. There are many areas: uninterrupted operations, information security, changing internal operating models, remote channels,” he said at the International Financial Club BANKIR conference.
In addition, Malakhov noted that Ukrexim is now in the middle of its path to what it wants to achieve in the transformational direction.
“In 2021-2022, we closed infrastructure issues to prepare our bank for the transformation of business processes, and the next stage is the transformation of our remote channels. We have quite ambitious plans,” the banker emphasized.
However, he noted that the state-owned bank does not always manage to implement changes promptly due to the specifics of its clients in the form of government agencies, but, according to him, Ukrexim’s team is striving for this.
According to the National Bank of Ukraine, as of November 1, 2023, Ukreximbank ranked 3rd (UAH 255.01 billion) among 63 banks operating in the country in terms of total assets.
