Business news | Latest business news in Ukraine - UBN

The NBU leaves the key policy rate unchanged due to accelerated inflation.

Today’s News

Friday, July 26

The NBU leaves the key policy rate unchanged due to accelerated inflation. Ukraine halted a run of three interest-rate cuts after an acceleration in inflation prompted policymakers to signal that easing will only be possible to resume next year, reported Bloomberg....

In China, Kuleba explains the conditions for negotiations with the Russian Federation.

Thursday, July 25

In China, Kuleba explains the conditions for negotiations with the Russian Federation.

Dmytro Kuleba has arrived in China to discuss Beijing’s possible role in ending the war in Ukraine.

Wednesday, July 24

Dmytro Kuleba has arrived in China to discuss Beijing’s possible role in ending the war in...

Ukraine agreed to a debt restructuring with its Eurobond holders.

Tuesday, July 23

Ukraine agreed to a debt restructuring with its Eurobond holders.

The Prime Minister of the United Kingdom promises to increase efforts to support Ukraine; Zelenskyy asks permission for strikes in Russian territory to protect civilians.

Monday, July 22

The Prime Minister of the United Kingdom promises to increase efforts to support Ukraine;...

Morning Economic Digest

Straight, factual, timely and investable business news and economic trends from Ukraine, Europe’s next Frontier Economy.

Today’s News

Friday, July 26

The NBU updated its forecast for key indicators in the Ukrainian economy.

The NBU updated its forecast for key indicators in the Ukrainian economy. The NBU predicts the growth of Ukraine’s GDP in 2024 at 3.7% (April’s forecast was 3%). Economic growth in the year’s first half continued, although it has slowed down in recent mont...

Fitch downgraded Ukraine's rating to pre-default level after its debt restructuring deal.

Fitch downgraded Ukraine's rating to pre-default level after its debt restructuring deal. Fitch Ratings downgraded Ukraine’s long-term issuer default rating (IDR) in foreign currency from CC to C. “Ukraine’s downgrade reflects Fitch’s view that the agreement in prin...

Sanctions are slowly destroying Russian businesses with payment issues.

Sanctions are slowly destroying Russian businesses with payment issues. New US restrictions imposed in June have put local banks in countries that trade with Russia at a higher risk of so-called secondary penalties, which is delaying or disrupting payments to and from cou...

Tanks, ammunition, missiles, and air defense: Ukraine's allies continue to provide support.

Tanks, ammunition, missiles, and air defense: Ukraine's allies continue to provide support. The Ministry of Defense of the Netherlands noted that they are preparing with Denmark to send 14 Leopard 2A4 tanks, which were repaired by the German company Rheinmetall, to Ukraine by the end of the ...

The Ministry of Energy is rushing to restore energy production capacity.

The Ministry of Energy is rushing to restore energy production capacity. The Ukrainian campaign to repair power units in 2024 will be larger than last year, Minister of Energy German Galushchenko said. “Last year, we restored 3.3 GW of destroyed generation. This year...

The EC has restricted companies and private investors from exchanging assets with Russians.

The EC has restricted companies and private investors from exchanging assets with Russians. The European Commission has prohibited individuals and legal entities from EU countries from participating in an asset exchange scheme proposed by Russia. This is in response to the participation of t...

Ukraine and Japan sign a document to support investment projects, and 14 Japanese companies are ready to invest in the Ukrainian economy.

Ukraine and Japan sign a document to support investment projects, and 14 Japanese companies are ready to invest in the Ukrainian economy. Ukraine and Japan signed the Protocol of Discussions on the Project of Strengthening the Involvement of the Private Sector for the Reconstruction of Ukraine. The document envisages the provision of as...

One of Ukraine's largest fuel traders will increase its rolling stock by more than 200%.

One of Ukraine's largest fuel traders will increase its rolling stock by more than 200%. The TAS-Poltavvagon company, which is part of the TAS financial and industrial group, will produce 100 tank cars for the OKKO group of companies. In July, OKKO received the first 20 wagons, and the re...

Ukrainian farmers have received ₴62.9B in loans since the beginning of the year, and banks have received ₴38B in loan applications for energy infrastructure restoration projects.

Ukrainian farmers have received ₴62.9B in loans since the beginning of the year, and banks have received ₴38B in loan applications for energy infrastructure restoration projects. Since the start of the year, 9,075 farmers have received ₴62.9B in bank loans. Farmers from the Kyiv, Dnipropetrovsk, Cherkasy and Kirovohrad regions received the largest loans under various programs....

Most Ukrainians have not adapted to life abroad and plan to return home.

Most Ukrainians have not adapted to life abroad and plan to return home. Most Ukrainians who left because of the war – 64% – have not adapted to life in the countries in which they sought refuge, and many intend to return to Ukraine. The adaptation factor has a clear effec...

Thursday, July 25

In China, Kuleba explains the conditions for negotiations with the Russian Federation.

In China, Kuleba explains the conditions for negotiations with the Russian Federation. Ukrainian Foreign Minister Dmytro Kuleba met with his Chinese counterpart Wang Yi to discuss ways to end Russian aggression and China’s possible role in achieving a just peace. Kuleba restated U...

Kyiv should be the one who decides on peace talks, and a Trump presidency will not change military support for Ukraine.

Kyiv should be the one who decides on peace talks, and a Trump presidency will not change military support for Ukraine. Portuguese Foreign Minister Paulo Rangel said the EU must remain committed to its policy, and Kyiv should lead any talks about ending the war in Ukraine. “It will be Ukraine who decides how a peace pr...

The EU is preparing indefinite sanctions to be placed on Russian assets to enable Ukraine’s $50B loan as part of the G7 initiative.

The EU is preparing indefinite sanctions to be placed on Russian assets to enable Ukraine’s $50B loan as part of the G7 initiative. EU countries are discussing options for extending the period between reviews of the sanctions on the Russian central bank’s assets to ensure the operation of the G7 plan to provide Ukraine with ...

The US is preparing to confiscate Russian money: Financial institutions are required to report any Russian assets.

The US is preparing to confiscate Russian money: Financial institutions are required to report any Russian assets. The US Treasury Department has required institutions that own Russian state assets to inform about them as part of implementing the Law on Restoring Economic Prosperity and Opportunities for Ukrainian...

Japan has already provided Ukraine with $6.3B since the beginning of the invasion: The Ministry of Finance anticipates continued support.

Japan has already provided Ukraine with $6.3B since the beginning of the invasion: The Ministry of Finance anticipates continued support. The Minister of Finance of Ukraine, Serhii Marchenko, stated: “Ukraine is systematically strengthening its financial capacity, increasing the internal revenues of the state budget. At the same t...

Ukrainians continue to deposit more money into their savings; in the first half of the year, deposits increased by ₴60.2B.

Ukrainians continue to deposit more money into their savings; in the first half of the year, deposits increased by ₴60.2B. According to the Deposit Guarantee Fund for Individuals, as of July 1, 2024, the total amount of deposits of individuals and entrepreneurs in Ukrainian banks reached ₴1,295T, which is ₴28.9B more than...

Hungary is blackmailing Ukraine by blocking €6.5B in military aid due to the cessation of Russian oil transit to the EU.

Hungary is blackmailing Ukraine by blocking €6.5B in military aid due to the cessation of Russian oil transit to the EU. Hungary will block the €6.5B military aid financing program for Ukraine under the European Peace Fund until Ukraine resumes supplies of Russian oil to Hungary, Hungarian Foreign Minister Peter Szijjár...

The NBU has simplified access of foreign investors to instruments for rebuilding Ukraine.

The NBU has simplified access of foreign investors to instruments for rebuilding Ukraine. The National Bank of Ukraine has adopted a decision that will allow foreign investors to get direct access to marketable debt instruments aimed at Ukraine’s recovery. Starting on July 24, the li...

Rheinmetall receives an order from Ukraine to construct an ammunition production plant.

Rheinmetall receives an order from Ukraine to construct an ammunition production plant. The German defense concern Rheinmetall has received an order from the Ukrainian government to construct an ammunition factory, previously announced in February. The exact value of the deal is not spec...

DTEK names four critical factors for getting through the winter and its plans to restore up to 70% of Ukraine’s damaged generation capacity.

DTEK names four critical factors for getting through the winter and its plans to restore up to 70% of Ukraine’s damaged generation capacity. To get through the next winter, it is necessary to have sufficient air defenses, restore a significant amount of generation, increase electricity import capacity (from 1.7 GW to 2.2 GW or even 2.7 GW)...

How does a business assess its state and prospects?

How does a business assess its state and prospects? The number of EBA member companies operating at full capacity has decreased from 78% to 64% compared to the beginning of the year. In particular, 45% of the surveyed top managers assess their business...

Piraeus Bank helps to support Okhmatdyt Children’s Hospital.

Piraeus Bank helps to support Okhmatdyt Children’s Hospital. After the tragedy that shook the world, more than 320,000 people from 55 countries and around 50 companies have donated to the needs of the hospital and to support its patients, including Piraeus Bank...

Wednesday, July 24

Dmytro Kuleba has arrived in China to discuss Beijing’s possible role in ending the war in Ukraine.

Dmytro Kuleba has arrived in China to discuss Beijing’s possible role in ending the war in Ukraine. Ukraine’s Foreign Minister Dmytro Kuleba has embarked on his first trip to China since the Russian invasion in 2022. China has served as an economic lifeline for the Kremlin since its invasion b...

The EU will adjust sanctions to ensure the earnings from frozen Russian assets are not interrupted.

The EU will adjust sanctions to ensure the earnings from frozen Russian assets are not interrupted. The EU has presented member states with two options to freeze Russian Central Bank assets for extended periods. It seeks to assuage US concerns over a G7 plan to leverage the profits from these assets...

Ukraine will present a list of investment projects for 2025 and expects to receive €4.1B from the EU.

Ukraine will present a list of investment projects for 2025 and expects to receive €4.1B from the EU. Prime Minister Denys Shmyhal announced that the Cabinet of Ministers plans to present a prepared list of public investment projects for 2025 to its partners in September. “Thus, in conditions of...

Ukraine has risen in the global rankings of iron and steel producers, and these products occupy 35-45% of export cargo transportation.

Ukraine has risen in the global rankings of iron and steel producers, and these products occupy 35-45% of export cargo transportation. Ukraine climbed to 13th place in the ranking of the largest iron-producing countries and 21st place in the list of the largest steel producers. In the first half of the year, Ukraine produced 3.47 mil...

The EU will provide Ukraine Railways €43M for the modernization and construction of European-standard track.

The EU will provide Ukraine Railways €43M for the modernization and construction of European-standard track. The EU will allocate €42.95M to Ukrainian Railways (UZ) to improve the country’s railway network and begin the transition to 1,435 mm track to ensure infrastructure compatibility and increase th...

The EIB will approve a €250M support package for Ukraine’s energy sector and allocate another €200M to modernize its public transport.

The EIB will approve a €250M support package for Ukraine’s energy sector and allocate another €200M to modernize its public transport. The government of Ukraine and the EIB are working diligently to prepare new agreements for a €250M support package. “The EIB systematically supports Ukraine in priority area and continues to wor...

Boeing and Antonov signed a preliminary agreement to cooperate in the production of drones.

Boeing and Antonov signed a preliminary agreement to cooperate in the production of drones. The American Boeing Corporation and the Ukrainian company, Antonov, signed a preliminary joint work agreement for the production of unmanned systems to support Ukraine’s defense industry. The me...

Founders of industrial parks are eligible to receive ₴150M from the state for infrastructure development.

Founders of industrial parks are eligible to receive ₴150M from the state for infrastructure development. The Ministry of Economy agreed to cooperate with Ukreximbank through the State Stimulation of the Creation of Industrial Parks program. Oschadbank and Ukrgazbank plan to join the program soon. The pro...