Business news from Ukraine

Business news from Ukraine

Moldova to provide assistance to Ukraine in amount of 220 thousand euros to eliminate consequences of Kakhovka hydroelectric power plant explosion

Moldova will provide Ukraine with assistance worth 4.2 million lei (about 220,000 euros) to eliminate the environmental and humanitarian consequences of the Kakhovka hydroelectric dam explosion. A decree to that effect by the National Commission for Emergency Situations was published on the Moldovan government website.
The aid package will include water pumping stations, inflatable boats, food and equipment necessary to alleviate the consequences of the flood.
It is noted that the equipment will be provided from the reserves of the General Inspectorate of Emergency Situations and the Material Reserves Agency.

Family farms to be compensated 1.9 mln UAH of SSE – Ministry of Agrarian Policy and Food of Ukraine

The Ministry of Agrarian Policy and Food of Ukraine has sent 1.9 million UAH to an off-budget account for the payment of compensation to family farms, which are single social tax (SSST) payers, the press service of the Ministry said.
According to the information of the ministry, 170 members of agrarian farms have already received money in their personalized accounts as an additional payment for the previous year and the first quarter of 2023.
The procedure for granting SFKs this additional financial support was approved back in 2019 by the Cabinet of Ministers Resolution No. 565 of May 22, 2019.
According to the norms of the law on state support, in the first year the state refunds 90% of the amount of ERUs, but on the condition that the family farm has paid its share of 10%. In subsequent years, the share of compensation by the state is gradually reduced by 10% annually, and the share of payment of ERUs by the SFH, respectively, is increased by 10% annually.
As previously reported, the Ukrainian Agrarian Association urged the Parliament not to exclude ERUs from the certificate of tax reporting.

Canada will actively support Ukraine’s aspirations to join NATO – Trudeau

Canada will actively support Ukraine’s cooperation with NATO to join the Alliance as soon as additional circumstances allow, Canadian Prime Minister Justin Trudeau said.
“Ukraine must have a choice about how to defend itself and protect its people. And that’s why Canada will support Ukraine’s cooperation with NATO in every way possible as part of the work of the North Atlantic Alliance to support Ukraine’s accession as soon as additional circumstances permit,” Trudeau said in his remarks during a plenary session of the Verkhovna Rada of Ukraine on Saturday.

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Net sales of dollars by National Bank of Ukraine (NBU) fell to $277 mln after three weeks of increases this week

Net sales of dollars by the National Bank of Ukraine (NBU) fell this week to $277.6 million from $457.0 million a week earlier after three weeks of increases.
According to the NBU on its website, from June 5 to June 9, 2023, its purchase of currency rose to $11.9 million from $15.1 million, while sales fell to $292.7 million from $469.0 million.
In the cash market, the dollar depreciated by about UAH 0.10 during the week – to UAH 37.15/$1.
Since the beginning of the year, the NBU bought $146.0 mln on the market, while it sold $11 bln 40.3 mln.
As reported, the volume of interventions of the National Bank in May increased to $1.93 billion, compared to $1.37 billion in February and $1.67 billion in March.
However, due to a significant influx of external financing, international reserves rose by 4%, or $1.358 billion, to $37 billion 311.3 million in May.

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Ukrainian insurance market in May decreased by 6 companies

Five risk insurers and one insurance broker left the Ukrainian insurance market in May, according to the website of the National Bank of Ukraine (NBU).
According to the NBU, as of May 31, 2023, 104 non-life insurers (109 in April) and 12 life insurers (number has not changed), one insurer with special status (ECA) and 56 insurance brokers worked in the non-bank market (57 in April).
Besides, two insurers had part of their licenses revoked voluntarily (on the basis of applications submitted by the companies), and one insurer had all of its licenses revoked.
In May, the National Bank received 323 requests from non-banking market participants for registration and licensing activities, 80 of them from the insurers.
As it was reported, in May the National Bank of Ukraine excluded “IC Unipolis” PJSC and “IC Speir” ALC (both in Kiev) and “IC Rik-Avtogarant” ALC (Lviv) from the State register of financial institutions due to the decision on the cancellation of all existing licenses. Also JSC “PROSTO-insurance” (Kiev) has been excluded due to cancellation of all previously available licenses due to non-compliance of insurer ownership structure with legislative requirements, and UJSIC “ASKA” (Zaporozhye) due to completion of accession to IC “VUSO”.
Besides, according to its application Insurance Advisors LLC is excluded from the State register of insurance and reinsurance brokers.

JSC “Ukrtransnafta” announced tender for insurance of fire brigades

JSC Ukrtransnafta (Kiev) announced a tender for mandatory personal insurance of members of volunteer fire brigades.
According to a report in the electronic public procurement system Prozorro, the expected cost of purchasing services is 56,374 thousand UAH.
“Ukrtransnafta”, 100% shares of which are managed by NJSC “Naftogaz of Ukraine”, is the operator of oil transportation system of the country.

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