Business news from Ukraine

Business news from Ukraine

Insurer “Arsenal Insurance” will close several regional directorates

The Supervisory Board of IC “Arsenal Insurance” (Kiev) on March 20 decided to close regional directorates in Kramatorsk (Donetsk region), Kherson and Chernivtsi, according to the company’s information in the information disclosure system of the National Commission on Securities and Stock Market.

The decision has been made in connection with the change of the structure of the regional network.

IC “Arsenal Insurance” is the legal successor of IC “Arsenal-Dnepr”, operating in Ukraine since 2005. It is represented in all regional centers and some large cities of the country.

According to the NBU, the company is among the top ten leading insurers of Ukraine in terms of premiums collected in the first nine months of 2024.

 

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Exports of ferrous metals from Ukraine fell by 20% in January-February

In January-February this year, Ukraine’s metallurgical enterprises reduced their revenues from ferrous metal exports by 19.8% year-on-year to $419.199 million.

According to statistics released by the State Customs Service (SCS) on Tuesday, ferrous metals accounted for 6.67% of total export revenues during this period, compared to 7.67% in January-February 2014.
In February, export revenues amounted to $200.430 million.

At the same time, Ukraine increased imports of similar products by 3% to $228.165 million in January-February 2025. In February, products worth $113.656 million were imported.
In addition, in January-February 2025, Ukraine reduced exports of metal products by 5% to $144.730 million. In February, they were exported for $66.058 million.

Imports of metal products decreased by 4.7% to $137.982 million over the same period. In February, these products were imported for $61.614 million.

As reported earlier, in 2024, Ukrainian steelmakers increased revenues from ferrous metal exports by 16.9% year-on-year to $3 billion 96.343 million. At the same time, Ukraine increased imports of similar products by 13.1% to $1 billion 478.814 million last year. In December, products worth $108.227 million were imported.

In 2023, Ukraine reduced revenues from exports of ferrous metals by 41.6% compared to 2022, to $2 billion 647.72 million, with ferrous metals accounting for 7.3% of total revenues from exports of goods in this period, compared to 10.3% in 2022. At the same time, in 2023, Ukraine increased imports of similar products by 37% to $1 billion 307.05 million.

In addition, in 2023, Ukraine decreased exports of metal products by 16.6% year-on-year to $877.92 million, while imports of metal products increased by 40.3% to $902.57 million.

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Starting price of Zhytomyr Distillery during privatization will be UAH 101 mln

The State Property Fund of Ukraine (SPFU) has put up the single property complex of the State Enterprise Zhytomyr Distillery (Zhytomyr) for privatization at auction via Prozorro.Sale at a starting price of UAH 101.1 million, the SPFU press service reports.

According to the report, the asset includes 147 units of real estate, 47 vehicles, 1457 units of equipment, furniture, inventory, etc. It is noted that in addition, the single property complex includes a separate subdivision of the Chudniv branch of the Zhytomyr Distillery (Chudniv), non-residential premises (Vilshanka village), a built-in premises (Korosten district, Olevsk), an artesian well (Korochenky village) and two shops (Zvyagel and Lyubar village). The total area of the asset is 24,320 square meters.

The state-owned enterprise has two valid licenses: for the production of alcoholic beverages valid until April 10, 2026, and for the right to wholesale alcoholic beverages, except cider and perry, which is valid until December 27, 2026.

As of December 31, 2024, the carrying value of assets amounted to UAH 101 million 90 thousand, accounts payable – UAH 161 million 196 thousand, including UAH 11 million 133 thousand in payroll and UAH 26 million 349 thousand to the budget. The company employs 205 people.

The company has a protection agreement for a local cultural heritage site. All of the company’s property has been seized, and it is not leased. Registration for the auction will last until April 10 at 20:00. The auction will take place on April 11.

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Canadian Prime Minister dissolves parliament and calls for elections

Canadian Prime Minister Mark Carney announced the dissolution of parliament on Sunday and new elections on April 28.

“I have just asked the Governor General to dissolve parliament and call a federal election on April 28,” he wrote on social media site X.

“We must build the strongest economy in the G7. We must deal with President Trump’s tariffs. Canadians deserve a choice about who should lead these efforts for our country,” the prime minister emphasized.

Earlier, Experts Club and Maksim Urakin released a video analysis on the most important elections in the world in 2025 – https://youtu.be/u1NMbFCCRx0?si=AOtHGDT1kGNdZd2g

 

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Ukraine increased copper imports by 4% in January-February 2025

In January-February 2025, Ukrainian companies increased imports of copper and copper products by 4% compared to the same period of 2024 – up to $30.277 million.

According to customs statistics, copper exports increased by 31.3% to $14.305 million in the period under review. In February, copper was imported for $16.462 million and exported for $7.354 million.

Copper is widely used in electrical engineering, pipe manufacturing, alloys, medicine and other industries.

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