Business news from Ukraine

Business news from Ukraine

Group of companies DIM states about activation of demand on primary housing market

In September on the primary housing market in Ukraine there is a gradual increase in demand and the number of investment transactions, said the conceptologist of the group of companies DIM Alena Piskunova. “Since May of this year we can confidently say that buyers are increasingly returning to the real estate market. Not in such volumes, not with such sales rates, but the interest is growing. First of all, housing for themselves, where they consider houses at the final stages of construction with apartments with repair. However, since the beginning of September, we observe and gradual return of investment transactions”, – told Piskunova at a press conference in the agency “Interfax-Ukraine”.

Founded in 2014 GC DIM consists of six companies covering all stages of construction.To date, the GC has commissioned 12 houses in six residential complexes with a total residential area of more than 218 thousand square meters. m. Six residential complexes of “comfort+” and “business class” category are under construction: “Novy Avtograf”, “Metropolis”, Park Lake City, Lucky Land and others.

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MTIBU reduces cost of Green Card policies by 3.4%

Starting September 29, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will reduce tariffs for Green Card policies for those traveling abroad by 3.4%, according to its website.

According to the MTIBU, the last change in tariffs was on April 21, 2023, upward by 3.15%, on December 30, 2022, upward by 3.1%, before that they were also raised on November 17 by 6.9% after a decrease of 5.5% on October 3, before that, on July 26 of the same year, they were raised by almost a quarter (by 26.3%).

Since 2009, two types of Green Card policies have been sold: for the whole of Europe and Moldova. Also, starting from January 1, 2016, Ukrainian Green Card policies began to operate in Azerbaijan.

Thus, according to the MTIBU, the cost of the Green Card for 15 days for traveling in Europe for cars is reduced to UAH 949 (from UAH 982 previously), for buses – to UAH 3,567 thousand (UAH 3,691 thousand), for trucks – to UAH 2,239 thousand (UAH 2,317 thousand).

The cost of a one-month Green Card for cars is now UAH 1,511 thousand (compared to UAH 1,564 thousand before), buses – UAH 4,954 thousand (UAH 5,126 thousand), and trucks – UAH 2,972 thousand (UAH 3,075 thousand).

Semi-annual and annual Green Card policies for cars will now cost UAH 6,709 thousand and UAH 8,306 thousand, respectively, for trucks – UAH 14,070 thousand and UAH 26,566 thousand, for buses – UAH 17,340 thousand and UAH 32,204 thousand.

The cost of policies for traveling to Azerbaijan and Moldova for passenger cars for 15 days will be UAH 691 (previously UAH 715), for one month – UAH 1,017 thousand (UAH 1,052 thousand), for six months – UAH 2,332 thousand (UAH 2,413 thousand), for a year – UAH 3,321 thousand (UAH 3,436 thousand).

The amounts of single insurance premiums under contracts of international compulsory motor third party liability insurance for owners of motor vehicles were established by a resolution of the Cabinet of Ministers dated January 6, 2005 and are denominated in euros.

“Green Card is a system of insurance coverage for victims of road traffic accidents, regardless of their country of residence or country of vehicle registration. It covers 44 countries in Europe, Asia and Africa.

According to the decision of the General Assembly of the Council of the Bureau of the International System of Motor Insurance “Green Card”, adopted in Luxembourg in May 2004, Ukraine became a full member of the system on January 1, 2005.

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Structure of foreign exchange reserves as of 31.07.2023

Structure of foreign exchange reserves as of 31.07.2023

Source: Open4Business.com.ua and experts.news

Lviv-based Cardboard and Paper Company increases production by 19%

Cardboard and Paper Company LLC (Lviv), a major Ukrainian manufacturer of cardboard tubes and sanitary products, increased its production by 18.9% in January-August 2023, up to UAH 862.12 million, compared to the same period in 2022.

According to UkrPapir Association statistics provided to Interfax-Ukraine, the company increased its output of cardboard products by 1.8% to 18.1 thousand tons and of paper base for sanitary products by 3.3% to almost 5 thousand tons in physical terms. Production of toilet paper in rolls increased by 44.3% to 3.8 million units.

At the same time, in August, the company slightly (by 2.3%) reduced its paper and cardboard production compared to the same month last year, to 3.07 thousand tons, which is also 7% less than in July this year.

LLC “Cardboard and Paper Company” produces products and semi-finished products from waste cardboard (cardboard sheets, corners, sleeves), cellulose and recycled waste paper (toilet paper, towels, napkins TM Papero). The company supplies its products, in particular, to the EU countries.

Among its customers are Biosphere and Arterium corporations, Nestle, Khlibprom, and Yarych confectionery.

As reported, in 2022, the factory increased its commercial output by 51.5% compared to 2021, up to UAH 1 billion 186 million, without stopping work during the year. Net profit tripled to UAH 263.7 million.

Northern Mining and Processing Plant has improved pellet production

Northern Mining and Processing Plant (Pivdennyi GOK, Kryvyi Rih, Dnipro region), part of Metinvest Group, has upgraded its pellet production to improve its quality by increasing the share of iron in the product.

According to the company’s information on Monday, a modernization project was implemented at the pellet production shop No. 2 of Northern GOK using the LURGI 552V roasting machine.

It is specified that thanks to the introduction of the innovation, the specialists managed to establish the production of homogeneous pellets with an iron content of 65% or more. This opened up prospects for the company to maintain a competitive position in the European iron ore market.

The press service notes that before the outbreak of the full-scale war, Yenakiieve Iron Ore Enrichment was largely focused on supplying iron ore to Metinvest Group’s Ukrainian steelmaking companies. However, with the temporary loss of control over its Mariupol plants and the blockade of the Black Sea ports, the plant was forced to look for alternative markets for its commercial products. European steel mills were a promising prospect. Northern GOK’s technologists applied operational improvements in the concentrate and pellet production chain to ensure that Northern GOK’s iron ore meets the requirements of European steelmakers.

To improve the quality of products, the LURGI 552V roasting machine underwent a large-scale overhaul to modernize the raw pellet screen. The special design of the equipment made it impossible for products larger than the standard to enter the roasting machine. As a result, the output quality of unfluxed pellets has improved.

Made from premium A1 grade concentrate, they have the required diameter of 10 to 18 mm and an iron content of 65+%, which meets the requirements of European consumers. In addition, the modernization of the equipment allows the company to reduce the cost of natural gas and electricity, as well as to reduce the amount of concentrate used for pellets by reducing the amount of rejects.

As Andrey Skachkov, CEO of Northern GOK, explained, the company’s specialists have been working to improve the pelletizing process since 2019. Operational improvement measures were taken to reduce natural gas consumption in 2021-2022, and the first stage of the modernization of the automatic process control system (APCS) was implemented in early 2023.

“The quality of pellets was also improved by the launch of a technological process for the production of concentrate with an iron content of 68% at the ore processing plant (MPP) No. 1. All of this allowed us to reorient our production for the European market despite the war, providing our employees with jobs in these turbulent times. At present, iron ore produced at Severstal is being ordered by steelmakers in Slovakia, Poland, Romania and Serbia,” the top manager said, as quoted by the press service.

“Metinvest is a vertically integrated group of steel and mining companies. The group’s enterprises are located mainly in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions.

Metinvest’s major shareholders are SCM Group (71.25%) and Smart Holding (23.75%), which jointly manage the company.

Metinvest Holding LLC is the management company of Metinvest Group.

MPs propose to stop enrolling students in universities for evening and part-time programs

MPs propose to stop enrolling students in higher education institutions for bachelor’s and master’s degrees in the evening and part-time programs, as well as for junior bachelor’s degrees, starting next year.
A group of MPs has registered Bill No. 10092 on amendments to certain laws regarding the state final certification and the 2024 admission campaign in the Verkhovna Rada, the parliament’s website reports.
The bill proposes to amend the law “On Higher Education” to establish that in 2024, admission to higher education will be carried out in a special procedure determined by the executive body in the field of education and science.
According to the proposed amendments, in 2024, competitive selection for higher education on the basis of complete general secondary education is carried out on the basis of the results of the external independent evaluation in 2021 and/or entrance examinations in 2022-2024, conducted using the organizational and technological processes of external independent evaluation and creative competition (physical ability competition).
The draft law also proposes to establish that in 2024, the entrance exams will include the Ukrainian language, mathematics, history of Ukraine, and a subject of choice (physics, chemistry, biology, foreign language, geography, Ukrainian literature).
In addition, the authors of the draft law propose to supplement the Law “On Complete General Secondary Education” with provisions exempting students who complete their studies at each level of complete general secondary education from state final certification. For students who will complete their primary education in 2024, it is proposed to conduct state final certification in a pilot mode.

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