Business news from Ukraine

Business news from Ukraine

Poland sends 14 MiG-29s and 325 tanks to Ukraine

Poland has sent 14 MiG-29 fighter jets and 325 tanks to Ukraine, the Permanent Representation of the Republic of Poland to the EU has reported.
“Out of 575 tanks delivered to Ukraine so far, 325 have been transferred by Poland. The Netherlands ranks second (85), Germany third (80) and the United States fourth (76). In addition, out of the 28 aircraft transferred to Kyiv so far, Poland has sent 14 MiG-29 fighters,” the post on Twitter reads.
On May 8, Polish Defense Minister Mariusz Blaszczak announced the dispatch of MiG-29 fighters.
In April, Polish President Andrzej Duda said that Warsaw would be able to supply Kyiv with a total of 14 MiG-29 fighters.
The MiG-29 is a fourth-generation Soviet and Russian multi-role fighter developed in the 1970s. It is designed to destroy air targets with guided missiles and an onboard cannon and to engage ground targets with unguided munitions. It has numerous modifications. The aircraft is operated by more than 20 countries.

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Auction of claim for unfinished Sky Towers complex in center of Kiev failed again

The Dutch auction of the right to sell the unfinished Sky Towers complex in the center of Kiev by the state-owned Ukreximbank failed due to the lack of bidders.
According to the SETAM website, the starting price of the lot was UAH 5.58 billion.
As previously reported, the Sky Towers on the Pobedy Avenue, 13 could become the first Ukrainian skyscraper higher than 200 m (the project height of 214 m). The construction was carried out up to 2015, but reached 28 floors with a design height of 47, then it was stopped. According to the director of the development company “Agency for Office Construction” Alexander Demin, preservation of the object was not carried out.
Credit agreement with Ukreksimbank was concluded in 2007. In May 2012, the KDD Group, which has fallen into a difficult financial situation, signed an agreement to sell the American Cimbrorum Holdings LLC for $ 202.4 million project Sky Towers and the residential complex “Zazimye. Of this amount, KDD was to receive $12 mln in cash, while the rest was obligations, including $168.4 mln to Ukreximbank. At the same time, the bank increased the credit line for the completion of Sky Towers to $193 million, and the borrower was the Office Construction Agency.
In 2019, the parties signed a financial restructuring plan, but the developer continued to default. The Economic Court of Kyiv in early 2021 satisfied the claim of Ukreximbank to recover from the Agency of Office Construction 5.95 billion UAH of the debt on the loan to finance the construction of Sky Towers.
According to the data from the Unified State Register of Legal Entities and Individual Entrepreneurs, the founder of the “Office Construction Agency” LLC with the registered capital of 442 million UAH is the American “Taccadero Trading Limited”, the ultimate beneficiary is named David Israel.
Ukreximbank was founded in 1992, and the only owner is the state.
According to the National Bank of Ukraine, as of November 1, 2022 Ukreximbank in terms of total assets ranked third (267.423 billion UAH) among the 67 operating in the country.

Gold will continue its growth – analysts

Growing concerns about the U.S. government debt ceiling and expectations of interest rate cuts by the Federal Reserve will support gold, analysts at RBC Capital Markets believe.
As it was reported, the talks scheduled for Friday between Congressional leaders and President Joe Biden on the national debt were postponed by agreement of the parties. Meanwhile, U.S. House Speaker Kevin McCarthy said it “should not be construed” as a failure of negotiations.
“Even with the assumption that a deal will be reached sooner rather than later, we do not rule out the possibility of panic in the financial market as the deadline approaches,” wrote RBC Capital Markets strategist Christopher Looney. – We believe that gold is the best tool for hedging in the short term.”
In addition to the government debt situation and hopes that the Federal Reserve is nearing the end of its interest-rate hike cycle, demand for gold is supported by a number of other factors, said analysts at ANZ Banking Group Ltd. Soni Kumari and Daniel Hines. Among them are geopolitical risks, concerns about the state of the U.S. banking sector, as well as the slowdown in global economic growth.
Under the influence of these factors, gold-focused exchange-traded funds will see an inflow of funds by the end of the year, analysts believe ANZ.
Quotes for June gold contracts on the New York Comex exchange fell 0.33% to $2013.8 per troy ounce by 11:07 a.m. Since the beginning of the year, the price has risen by 8.2%.

IG “TAS” increased payments by 77%

TAS Insurance Group in April has paid 90,94 mln UAH of insurance indemnities according to the concluded insurance contracts, which is 77,1% more than in April of the last year.
According to the message on the website of the insurer, CASCO accounts for more than a quarter of all payments for the month – 29.64%, or UAH 26,96 mln, which is 66,3% more than in the reporting period 2022.
Payments on MTPL insurance have grown by 53.3% up to UAH 34,68 mln, which makes 38,14% of the total payments of the company for a month.
In turn, the part of “Green Card” in April portfolio of insurer’s payments has constituted 16,47%, or 14,98 mln UAH of compensations – in 5,94 times more than a year ago.
Payments on contracts of voluntary medical insurance have increased by 50,9% up to UAH 10,76 mln, which is 11,84% of the total amount of payments of the company per month.
At the same time TAS IG has paid UAH 1,28 mln on property insurance contracts in April – this is 2,67 times more than last year.
The company paid UAH 2,28 mln. as insurance indemnities under other insurance contracts in April.

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Ukrainians received 1 thousand loans for 1.3 bln UAH under program “єOselya”

Ukrainians have already received 1 thousand loans totaling 1.3 billion UAH under the state program of affordable mortgages “єОsela”, said Deputy Minister of Economy Alexander Griban.
“Already 1 thousand loans for 1.3 billion UAH have been issued. It’s not much in principle, but it’s a start,” he said at the Architecture and Construction Business Forum in Kiev on Thursday.
As the coordinator of the program the company “Ukrfinjitlo” in a press release said 835 of the 1017 soft loans were given to servicemen and security forces, 93 – to doctors, 78 – teachers, 11 – academics.
According to her, since the beginning of May the partner banks issued 57 loans worth UAH 83.5 million.
The program of affordable mortgages “єOsela” has been working since October of last year. Concessional mortgage at 3% per annum is available for military servicemen, security and defense employees, medical workers, teachers and research workers.
According to the Ministry of Economy, this year there are plans to increase the list of categories of people who can receive a loan for their own homes. They will be able to take credit for the purchase of housing at 7% per annum. The government expects to make this program permanent.
The coordinator of the state program of affordable mortgage lending for citizens “єOsel” is the state “Ukrainian Housing Finance Company” (“Ukrfinjitlo”).

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WHO no longer considers smallpox an extreme threat

The World Health Organization (WHO), following the recommendation of an emergency panel on human monkeypox, has decided to no longer consider the disease a global health emergency, the organization’s director general, Tedros Adhanom Gebreyesus, said Thursday.

“I am pleased to announce that monkeypox is no longer a global public health emergency,” Gebreyesus said during a briefing.

He said a WHO emergency commission met Wednesday and concluded that the outbreak was no longer a threat of international concern and recommended that it be removed from that status. Gebreyesus followed that advice.

However, he noted that, as with the COVID-19 coronavirus, this does not mean that the work to control the disease is over. Monkeypox, according to the WHO chief, is still a serious public health problem.

Earlier in May, Gebreyesus said the WHO no longer views COVID-19 coronavirus as a particular threat to global health.

Monkeypox is a rare infectious disease most common in remote areas of Central and West Africa. Its symptoms include nausea, fever, rash, itching, and muscle pain.

The Club of Experts previously analyzed the likelihood of monkeypox becoming an epidemic. Read more at the link: