Business news from Ukraine

Business news from Ukraine

Light rain in Kyiv on Monday and Tuesday

On Monday, March 25, in most of the southern and central regions there will be moderate, sometimes heavy rains during the day, in the western and northern regions there will be light rain, at night in some places with sleet, in the rest of the territory without precipitation, the Ukrainian Weather Center reports.

In the western regions, there will be fog in some places at night and in the morning. South wind with a shift to the north, 5-10 m/s.

The temperature at night will be 0-5° C, during the day 5-10° C, in the southeastern part 9-14°.

In Kyiv on Monday, there will be light rain in some places. The wind will be mostly north, 5-10 m/s. The temperature will be 1-3° Celsius at night and 8-10° Celsius during the day.

According to the Central Geophysical Observatory named after Borys Sreznevsky. Borys Sreznevsky Central Geophysical Observatory in Kyiv, on March 25, the highest daytime temperature was 20.3° in 1921, the lowest nighttime temperature was -14.3° in 1895.

On Tuesday, March 26, moderate rain in the southern and central regions of Ukraine, light rain in the northern regions, and no precipitation in the rest of the country.

Wind of variable directions, 3-5 m / s. The temperature at night will be 0-5° Celsius, during the day 7-12°.

In Kyiv, on Tuesday, there will be light rain in some places. Wind of variable directions, 3-5 m/s. The temperature at night will be 3-5° C, during the day 8-10°.

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Polish farmers do not allow trucks to leave Ukraine – State Border Service

Polish farmers continue to block the movement of Ukrainian trucks in three directions, at checkpoints “Yahodyn” and “Rava-Russkaya” cargo vehicles are not allowed to exit Ukraine, said the speaker of the State Border Service of Ukraine Andriy Demchenko.

“As of now there are three directions (blocking traffic), I remind you that before there were 6 checkpoints they blocked (Polish protesters). As of now – 3, if more substantially, these are checkpoints “Yagodin”, “Ugrinov”, as well as “Rava-Russkaya”. And in fact on the two largest of these three checkpoints – “Yahodyn” and “Rava-Russkaya”, Polish farmers do not pass cargo vehicles that follow from Ukraine at all”, – he said on air of the national telethon on Sunday.

According to the speaker of the State Border Service, these two checkpoints have recently recorded zero numbers on the exit from Ukraine, with about 500 trucks in queues.

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Ukraine increased steel production by 25% in February

In February this year, Ukrainian steelmakers increased steel production by 25.5% compared to the same period in 2023, up to 532 thousand tons from 424 thousand tons.
At the same time, Ukraine was ranked 22nd in the ranking of 71 countries that are global producers of this product by the World Steel Association (Worldsteel).
According to Worldsteel, in February, steel production increased in most of the top ten countries, except for the United States, Russia and South Korea, in February 2023.

Net sales of dollars by National Bank increased from $262 mln last week to $680 mln

Net sales of dollars by the National Bank of Ukraine (NBU) increased from $262.6 million last week to $680.4 million this week, which is in line with the figures at the very beginning of the year, according to the regulator.

According to the data, sales of foreign currency increased from $263.0 million to $680.9 million, while purchases remained at a meager level, although they increased slightly – from $0.37 million to $0.46 million.

The official hryvnia exchange rate weakened by almost 11 kopecks over the week, from 38.7998 UAH/$1 to 38.9075 UAH/$1. According to the regulator, the exchange rate declined in the first half of the week, reaching a historic low of 39.1399 UAH/$1 on Wednesday, after which it strengthened by 21 kopecks on Thursday and then by another 2 kopecks on Friday.

On the cash market, the hryvnia exchange rate weakened by 29 kopecks over the week. Unlike the interbank market, after strengthening from 39.31 UAH/$1 to 39.16 UAH/$1 on Thursday, it fell back to 39.30 UAH/$1 on Friday.

The dynamics of the negative balance between the volume of purchases and sales of foreign currency by the population corresponded to the fluctuations of the hryvnia at that time: from $15.4 million on Monday, it rose to $20.7 million on Wednesday.

As reported, on March 20, Ukraine received the first tranche of EUR4.5 billion from the EU under the Ukraine Facility program and $1.5 billion from Canada, while before that, all external revenues amounted to only $1.2 billion since the beginning of the year. In addition, on Friday night, the IMF Board of Directors approved the disbursement of the fourth tranche of $880 million under the EFF Extended Fund Facility program to Ukraine, which should arrive in two to three days, and on March 22, the budget received $230 million from Japan as part of the World Bank’s agricultural recovery project.

According to the National Bank’s forecasts, Ukraine may receive external financing worth $10 billion or even more from mid-March to the end of April, against the $37.3 billion in the state budget for the whole year.

At the same time, representatives of the National Bank noted at a press conference on March 14 that such irregular external financing would not lead to any shocks in the foreign exchange market.

In February, the NBU’s net sales fell to $1.50 billion from $2.53 billion in January, $3.55 billion in December, and $2.45 billion in November. However, due to low external support, international reserves declined by 3.8%, or $1.47 billion, to $37.05 billion in February after falling by 4.9%, or $1.98 billion in January.

In January, the National Bank lowered its forecast for Ukraine’s international reserves at the end of 2024 to $40.4 billion from $44.7 billion.

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Number of unemployed in Ukraine and job opportunities, November 22 – December 23

Number of unemployed in Ukraine and job opportunities, November 22 – December 23

Source: Open4Business.com.ua and experts.news

TAS Insurance Group increased payments by 58%

In January-February 2024, TAS Insurance Group (Kyiv) paid UAH 308.81 million under the concluded insurance contracts, which is 57.9% more than the company’s claims for the same two months last year.

According to the insurer’s website, the company’s payments under hull insurance contracts reached UAH 88.43 million, which is 28.64% of the total amount of the insurer’s payments and 38% higher than the corresponding figure for the same period in 2023.

Motor TPL claims increased by 57.7% to UAH 111.05 million, which is equal to 35.96% of the company’s total claims for the reporting period. At the same time, the share of “Green Card” in the insurer’s claims portfolio in January-February amounted to 16.82% or UAH 51.93 million (+49.3%).

VHI payments increased 2.3 times to UAH 47.7 million (15.45% of total claims).

In January-February, the company paid UAH 2.12 million under property insurance contracts and UAH 7.58 million under other insurance contracts.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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