Business news from Ukraine

Business news from Ukraine

New CEO appointed at Garant Metiz Invest

The Supervisory Board (SB) of Garant Metiz Invest PrJSC (Dnipro) has dismissed Oleg Kovtonyuk as Chairman of the Board and CEO based on his application, and appointed Oksana Fenik as the company’s commercial director for a five-year term.
According to the company’s announcement in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the personnel issues were considered at a meeting of the SB on July 6 this year.
It is specified that Kovtoniuk’s powers as Chairman of the Board and CEO will be terminated on July 6, and Fenik will take office on July 7.
Kovtoniuk has been CEO since August 12, 2021, and was appointed for 5 years.
Garant Metiz Invest LLC was founded in 2005, and later its founders decided to reorganize it into a CJSC and then into a PrJSC. The design capacity of the hardware plant is 40 thousand tons of products per year. The company was established on the industrial facilities of the former Electrogaz plant, whose premises were purchased during the reorganization.
According to the first quarter of 2023, Flobes LLC owns 50% of the shares in the company, and Garant Investments Ltd. (both based in Dnipro) also owns 50%.
The authorized capital of the PrJSC is UAH 1.982 million, the nominal value of the share is UAH 1.

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Share of new buildings, in which construction was resumed, by regions of Ukraine

Share of new buildings, in which construction was resumed, by regions of Ukraine

Source: Open4Business.com.ua and experts.news

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“Kernel” expands cooperation with Unimot Group

Ukrainian agro-industrial group Kernel signed an agreement to expand cooperation with Polish fuel importer Unimot Group, the company reported on Facebook.
“With the start of a full-scale war, we, along with other market participants, were forced to reorient fuel supply chains. In the midst of this process, Kernel signed its first formula contract with Polish fuel importer Unimot Group,” the agricultural holding company’s press office noted.
According to the agreement signed during Petroleum Ukraine 2023 conference, the Polish company will supply fuel, lubricants, bitumen and gas to the holding. For its part, Kernel will develop the storage and transport infrastructure and use mutually beneficial financial mechanisms.
The companies also agreed to cooperate in solar energy and projects aimed at decarbonizing production.
Unimot Group is the leader among Polish importers: 1.8 mln cubic meters of annual sales, 9 fuel terminals with a total capacity of 350 thousand cubic meters. The company owns a network of AVIA petrol stations with more than 3,200 stations in Europe.
Before the war, Kernel ranked first in the world in sunflower oil production (about 7% of world output) and its export (about 12%). The company is one of the largest producers and sellers of bottled oil in Ukraine. Besides, Kernel is engaged in cultivation of agricultural products and their realization.
Kernel cut its net profit in 1HFY2023 (July-December 2022) by 12.6% YoY to $370.31 mln, while revenues decreased by 41.3% to $1 bln 889.78 mln.

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Ministry of Health fired rector of Lviv National Medical University

Ministry of Health has dismissed the rector of the Lviv National Medical University Boris Zimenkovsky.

According to the Ministry of Health, Orest Chemeris, vice-rector for scientific and pedagogical (medical) work of the university, doctor of medical sciences in surgery, became the acting rector.

“In the near future, the new acting rector is entrusted with the preparation and conduct of the competition to fill the vacant position of rector of the Lviv NMU. Also among the priorities in the post: the development of the concept of the University Hospital and the preparation of the medical institution for the conclusion of contracts for medical services to the population under the Program of medical guarantees”, – noted the department.

In addition, the Ministry of Health said that among the priorities will be to ensure coordination of the implementation of the construction of a new rehabilitation center for reconstructive surgery. The center project is implemented within the framework of an agreement between the Government of Ukraine and the Government of Austria on economic cooperation on the basis of the First Medical Association in Lviv.

As it was reported, at the end of June the Ministry of Healthcare formed a commission for evaluation of the situation that has developed at Lviv National Medical University during the assignment of students for internship. The commission considered “numerous complaints of students of this university concerning the procedure of allocation to internship in general”.

Earlier, students of the Lviv National University published on social networks information about the problems during the placement of students in internships, as well as video recordings of the June 19 meeting of the commission with the statements of the university administration, which students described as inappropriate.

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Thunderstorm is forecast for Kyiv again on Saturday

On Saturday afternoon, short-term rains with thunderstorms are expected in Kyiv region, thunderstorms are forecast in the capital at night, and the yellow (I) level of danger has been declared, the Ukrainian Hydrometeorological Center reports.

“Warning of dangerous meteorological phenomena in Kyiv region. Partly cloudy weather. Short-term rains with thunderstorms (in some places during the day),” the message posted on the telegram channel reads.

North wind 7-12 m/s, some gusts of 15-18 m/s during the day.

The temperature in the region at night will be 14-19°, during the day 20-25°.

In Kyiv on Saturday at night 17-19°, during the day 23-25°.

National Bank has fined insurer Kyivska Rus

The National Bank of Ukraine (NBU) has fined PJSC IC Kyivska Rus (Kyiv) UAH 391,000 for violating financial monitoring requirements.
According to the regulator’s website, the fine was imposed for improper fulfillment of the institution’s obligation to timely and fully provide information and/or documents, copies of documents or extracts from documents necessary to supervise the prevention and counteraction to the National Bank’s requests. As well as for the submission to the National Bank of reports on prevention and counteraction with errors
As Ukrainian News earlier reported, on May 8 the National Bank of Ukraine (NBU) applied to Kyivska Rus IC a sanction in the form of a temporary suspension of license to provide financial services in insurance due to failure to report for the first half of 2022 and for 2022, as well as the actuarial report for 2022.
The company also did not submit a report on corporate governance and information on the key risks and the results of stress testing for 2022, did not provide information and documents as required by the NBU.
The insurer has been set a deadline up to June 8, 2023 for elimination of violations.
Private JSC “IC “Kyivska Rus” performs activity in voluntary and obligatory types of insurance, other than life insurance.
According to the accounts of the insurer for nine months of 2022 the amount of insurance payments totaled 85,4 mln UAH of which 76,9 mln UAH were paid out by reinsurers. The insurer made no payments during the above period.

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