ALC Insurance Company ARKS Life (ARX Life, Kyiv) has collected insurance premiums in the amount of UAH 152,2 mln in January-June 2023, that is by 11,2% more than in the same period a year earlier, according to the website of RA Standard-Rating. According to RA information on the company’s renewal of credit rating/rating of financial stability (reliability) of the insurer at the level “uaAAA” according to the national scale, the volume of payments and indemnities, performed by the insurer for the first half of 2023, has grown in comparison with the same period of 2022 by 32,05%, to UAH 31,818 mln. Thus, the level of payments of the insurer has increased by 3,32 percentage points (p.p.), up to 20,91%.
At the same time, acquisition costs have grown by 6,51%, up to UAH 77,997 mln.
The company’s net profit for January-June amounted to UAH 33.963 mln, which is 2.44 times more than the profit obtained in the first half of 2022.
Assets as of June 30 increased by 15.77% to UAH 267.289 mln, equity – by 28.38% to UAH 153.655 mln, liabilities – by 2.19% to UAH 113.634 mln, cash and cash equivalents – by 33.25% to UAH 88.221 mln.
RA also notes that as of July 1 of the current year the insurer has made financial investments in the amount of UAH 159,267 mln, which consisted of government bonds (85,09%), OVDP (2,35%) and deposits in banks (12,56%).
ARX Life, like ARX, is part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is among the top 10 companies in the life insurance market in Ukraine.
JSC Ukrgasvydobuvannya transferred UAH 13.88 billion of rent payments to the consolidated budget of the country based on the results of its activities from January to August 2023.
“Of this amount, 5%, or UAH 693.9 million, will go to the budgets of local and regional levels in 11 regions where the company produces hydrocarbons,” the company said in a press release.
In particular, Kharkiv region will receive UAH 336.9 million, Poltava region – UAH 292.21 million, Lviv region – UAH 31.8 million, Dnipropetrovs’k region – UAH 18.38 million, and other regions – UAH 14.62 million.
“The amount of rent payments is calculated according to the sale price of Ukrgasvydobuvannya’s natural gas in favor of Naftogaz of Ukraine.
Turkey’s Onur Group has acquired Rokytnivsky Spetskarier LLC, which produces granite, granodiorite and gabbro-diabase at the Rokytnivsky deposit in Rivne region.
According to Nadra.info, in May 2023, Onur Construction International LLC became the sole participant of Rokytnivsky Special Quarry LLC, and on June 1, Turkish citizens Iskhan and Onur Cetinjeeviz were named as the ultimate beneficiaries of the quarry.
The former co-owners of the company were Inna Samoilik and Ihor Vivchar, the latter being the director of Rokytnivsky Special Quarry.
According to the protocol of the State Commission of Ukraine for Mineral Resources dated June 15, 2017, the reserves of Rokytne deposit amount to 9.6 million cubic meters. The special permit for subsoil use issued to Rokytnivsky Special Quarry is valid until 2038.
According to the publication, as of August 2023, Onur Group controls eight mining assets in Ukraine.
Source: https://nadra.info/2023/08/onur-acquired-another-mining-company-in-ukraine
The construction of the Vinnytsia Industrial Park (Volia Agri-Food Park Vinnytsia) has started, said Andriy Ocheretyanyi, deputy mayor of Vinnytsia.
“Preparatory work is already underway. Over time, the agri-food park will have a modern business center for residents, a logistics center and a Light Industry Box to accommodate the production of small food enterprises,” he wrote on Facebook.
A total area of 35.7 hectares has been allocated for the construction of Volia Agri-Food Park Vinnytsia. The expected amount of investment is about UAH 3 billion. The project organizers plan to employ about 2000 people.
According to the press service of the Vinnytsia Regional State Administration, the first stage of construction of the agri-food park involves the development of utilities, roads, and landscaping in the park, the construction of a business center for residents, a Light Industry Box to accommodate the production of small food companies, and a logistics center.
According to the project administration, the infrastructure and service capabilities of Volia Agri-Food Park Vinnytsia can attract residents from the entire product creation chain – from research and innovation, recipe development and new product creation to mass production, as well as warehouse and transport logistics, product certification, sales organization and export potential development.
“Volia Agri-Food Park Vinnytsia will provide international and Ukrainian food companies with ready-made solutions for business relocation and scaling,” the press service quoted Borys Shestopalov, founder and investor of Volia Agri-Food Park Vinnytsia, as saying.
According to the businessman, who is also a co-owner of food tech companies HD Gtroup and GFS, the infrastructure is expected to meet the latest requirements in the field of high technology, energy efficiency and ecology to reduce operating costs and increase the profitability of food companies.
Benchmark crude oil prices are down slightly on Tuesday morning after declining the previous day.
The price of October futures for Brent on the London-based ICE Futures exchange at 8:00 a.m. Q4 is at $84.34 per barrel, down 12 cents (0.14%) from the previous session’s close. On Monday, these contracts fell in price by $0.34 (0.4%) – to $84.46 per barrel.
Quotes of futures for WTI crude oil for September at the electronic trading of the New York Mercantile Exchange (NYMEX) by the specified time decreased by 2 cents (0.02%) and amounted to $80.7 per barrel. At the end of the last session they fell by $0.53 (0.7%) – to $80.72 per barrel.
Negative factors for the market in recent days are concerns about the slow growth of the Chinese economy and strengthening of the dollar on expectations of new Fed rate hikes.
“Overall, oil demand and prices are being held back by slowing global economic growth and a global recession in the manufacturing sector,” said Jason Schenker, president of Prestige Economics.
However, OPEC forecasts still call for global oil demand growth of more than 2% in 2023 and 2024, Schenker noted. In addition, data from the U.S. Department of Energy indicate a decline in crude stockpiles in annual terms.
The issue of the need to support the processing industry, in particular biogas producers, was raised by Minister of Agrarian Policy and Food of Ukraine Mykola Solskiy at a meeting with Deputy Director of the USAID mission in Ukraine Theodora Dell, the press service of the Ministry of Agrarian Policy reported.
“The parties discussed the implementation of joint projects in the agricultural sector of Ukraine. The Minister thanked for the support of land reclamation reform, as a result of which farmers are actively creating new OICs, receive assistance in the restoration of irrigation systems. They also talked about the need for additional projects to support the processing industry, in particular biogas producers,” the report says.
According to Solsky, this promising industry should receive an additional impetus to more active development.
Dell, for her part, noted that the USAID mission has been supporting Ukraine since the first days of Russia’s full-scale invasion and will definitely continue to do so.
