Business news from Ukraine

PMS OF SLOVAKIA AND UKRAINE DISCUSS GAS SUPPLIES

Prime Minister Denys Shmyhal has discussed the possibility of increasing natural gas supplies to Ukraine through the territory of Slovakia with Prime Minister of Slovakia Eduard Heger.“Slovakia is one of the main partners of Ukraine in the energy sector. Today, we have discussed the possibility of increasing natural gas supplies to Ukraine through the territory of Slovakia. This can happen in accordance with the agreements of the gas transmission system operators of our countries,” Shmyhal at said a joint briefing with Heger in Zakarpattia region on Friday.In addition, he said that in the transport sector, an important component of cooperation could be the provision of rail container traffic on the Asia-Europe route.Shmyhal announced Ukraine’s interest in increasing additional freight traffic through the country. “A promising area of cooperation is the creation of multimodal logistics terminals for handling cargo at the Ukrainian-Slovak border,” he added.The parties also discussed the development of border infrastructure, in particular, the functioning of joint checkpoints and joint customs control.“Cooperation with Slovakia in the customs sphere is no less important for us. We are working on mutual recognition of the results of customs control,” he added.The Prime Minister of Ukraine said that in the near future the dates of the meetings of the Ukrainian-Slovak Commission on Economic, Industrial, Scientific and Technical Cooperation, the Commission on Cross-Border Cooperation and the Commission on National Minorities will be determined.Shmyhal also thanked Slovakia for supporting the sovereignty and territorial integrity of Ukraine.

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ARX RAISES PREMIUMS BY 30% IN UKRAINE

ARX Insurance Company in January-September 2021 collected more than UAH 2.5 billion in insurance premiums, which is 30% more than in the same period a year earlier, according to a press release from the insurer. It is also noted that payments to customers for the reporting period amounted to more than UAH 942 million, which is 29% more than a year ago. The volume of premiums collected for KASKO insurance amounted to more than UAH 1.4 billion, which is more than a third more than in the same period last year (32.7%). The amount of payments exceeded UAH 664 million. The amount of collected premiums on OSAGO stood at UAH 38.8 million (up by 29.7%), on voluntary medical insurance – more than UAH 379 million of premiums (more by 32.5%), more than 140 million insurance claims were paid, property insurance collected UAH 288.5 million (more by 23.5%), payments amounted to more than UAH 27 million. The press release notes that the sum of the collected premiums of the life insurance company ARX Life for the specified reporting period amounted to UAH 192.7 million (more by 23%). The amount of payments was UAH 37.4 million. The profit of both companies for the nine months of 2021 amounted to UAH 200 million. As reported, ARX has been operating in the insurance market for 26 years and has been the leader in KASKO insurance for the 12th year in a row. It ranked first among Ukrainian insurers in terms of net insurance premiums and net insurance payments for 2019. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada). AXA Group (France) in February 2019 completed the sale of its subsidiaries in Ukraine: PrJSC AXA Insurance and AXA Insurance Life. On July 1, 2019, AXA Insurance changed its name to ARX Insurance Company. AXA Life Insurance began operating under the ARX Life brand.

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9 EU COUNTRIES RETAIN ENTRY FOR VACCINATED UKRAINIAN CITIZENS

Ukrainian citizens who have received a full course of vaccination against coronavirus infection COVID-19 will be able to enter Ireland if they have supporting documents, Foreign Minister Dmytro Kuleba has said.“Ireland has become the ninth EU country left open for travel by Ukrainians. The conditions are full vaccination, a certificate of recovery or a negative PCR test. You still need to have a visa to travel to Ireland,” Kuleba wrote on Twitter.All conditions of entry are available on the website of the Consular Service of Ukraine at: https://tripadvisor.mfa.gov.ua    As earlier reported, Cyprus, Croatia, Estonia, the Netherlands, Czech Republic, Austria, Denmark and Belgium reported that the possibility of entry was preserved for Ukrainians.

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FERREXPO PLANS TO INVEST MORE THAN $2 MLN IN EDUCATIONAL EQUIPMENT

Ferrexpo plans to invest more than $2 million in educational equipment, Yuriy Arsenyev, the Director of Information Technology and Automation at Ferrexpo, said during the presentation of Ukraine’s first Privat Network using LTE technology at 5.7 GHz.“We are negotiating the purchase of simulation cabins and software with companies from South Africa and Australia,” he said.The mining simulator cab recreates the cab of a dump truck or excavator.“The technology allows you to simulate even choreography, the interaction of different pieces of equipment. That is, we can simulate the simultaneous operation of an excavator, a bulldozer and a dump truck,” he added.The technology studied by Ferrexpo allows you to scan real careers, load this data into the program and create a simulation that matches 100% real conditions.“Such tools make it possible to train personnel more efficiently. First of all, upon receipt of new equipment, we will be able to improve our qualifications in just a month, teach them how to work with it. The second point is that such simulators will allow us to work out emergency situations, for example, ice in a quarry,” Arsenyev said.One such complex for one type of equipment is about $1 million.“We are negotiating the purchase of three sets, for bulldozers, dump trucks and excavators. But we want to buy one base, a container with hydraulics, which costs about $500,000. Replacement control kits each cost the same. We want to take one base and several replacement kits,” the expert said.According to him, the conversion from one type of equipment to another takes about a day. “You can train personnel for one type of dump truck, re-equip in a day – and prepare for another,” he noted.

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CANADIAN COMPANY INTERESTED IN HYDROCARBON PRODUCTION IN UKRAINE

Canadian-based Tenaz Energy Corp. is interested in the implementation of projects for the development of hydrocarbon areas in Ukraine, head of the State Service of Geology and Subsoil of Ukraine Roman Opimakh said on Facebook after a meeting with executive director of the company Anthony Marino in Kyiv. “Special attention (on the part of Tenaz Energy Corp. is paid to the facilities, where production was suspended due to a sharp drop in the production rate of wells that are not being developed now,” Opimakh said with reference to Marino.In turn, the head of the service informed the representative of the Canadian company about the existing proposals in the field of hydrocarbon development in Ukraine, as well as about possible ways to implement business projects.“The service has prepared and published in the investment atlas of a subsoil user 50 objects with oil and gas deposits for electronic auction. This is more than 6,000 square kilometers throughout Ukraine, including areas with approved reserves and green fields,” Opimakh explained at the meeting.According to him, it is possible to obtain the right to explore and develop by purchasing special permits at electronic auctions, which the service regularly conducts on the ProZorro.Sale platform.He also informed the Canadian investor about the possibility of Tenaz Energy Corp.’s entering the existing farm-in subsoil use projects.“The condition is the acquisition of a share in the company that is the licensee. Such a mechanism may be of interest to enterprises that are experiencing difficulties in unlocking the full potential of the facilities, and the international partner will offer capital and experience,” Opimakh emphasized. Tenaz Energy Corp. is a public company specializing in the acquisition of oil and gas assets around the world through mergers and acquisitions in order to create an efficient extraction business. Tenaz Energy Corp. has carried out operations to acquire assets worth more than $ 6 billion and has experience of operating in 65 countries of the world. The company develops hydrocarbons in Central Alberta (Canada) and focuses on the markets of Europe, the Middle East, South America and North Africa.

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UKRAINE SUBSTANTIALLY CUTS IMPORTS OF MANGANESE ORES

Ukraine in January-October this year reduced imports of manganese ore and concentrate in quantity terms by 30% compared to the same period last year, to 337,278 tonnes.According to statistics released by the State Customs Service, in monetary terms, imports of manganese ore and concentrate decreased by 35.1% over the period, to $42.262 million.At the same time, manganese ore and concentrate were imported from Ghana (99.84% of supplies in monetary terms), Brazil (0.08%) and Belgium (0.07%). In January-October 2021, Ukraine exported 434 tonnes of manganese ore and concentrate to Poland (90.2%) and Russia (9.8%) for $51,000 (no ore was exported in August-October), while in the same period last year it exported 47,342 tonnes of manganese ore and concentrate for $7.152 million

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