During his recent visit to New York, Zelensky met with Boris Johnson, the Prime Minister of the UK to discuss strategic partnerships.
The parties assessed the first results of the implementation of the Agreement on Political Cooperation, Free Trade and Strategic Partnership between Ukraine and the United Kingdom.” There was an increase in bilateral trade in the first half of this year by more than 70%. During the meeting, Zelensky and Johnson discussed the potential of further cooperation with the United Kingdom on the development of Ukraine’s defense capabilities and strengthening the Ukrainian fleet.
The US sanctions against Nord Stream 2.
The House of Representatives of the US Congress has agreed to provide the amendments to the annual draft defensive budget that provide sanctions against Nord Stream 2 and all persons and companies involved in the activity and construction of the Nord Stream 2. The Naftogaz CEO Yuriy Vitrenko announced on Facebook. Citing the fact that the decision was not made early. After Biden’s inauguration in January 2021, the new incoming administration decided to use its right to make an exception
The growth of the Construction industry in Ukraine slowed down.
According to the State Statistics Service, the volume of construction output in January–July was valued at ₴76.8 bln ($2.88 bln), compared with the same period of the previous year. Illustrating a slowdown in construction, as the industry grew by only 0.2% in the first half of the year. Residential construction output increased by 19.9%, commercial construction and infrastructure construction output dropped by 3.9% and 4.3% respectively.
The government removed most members from Ukrzaliznytsia’s supervisory board.
The Cabinet of Ministers of Ukraine has refused to extend the contracts of four members: Shevka Ajuner, Andreas Mathieu, Serhiy Leshchenko, and Oleg Zhuravlyov. Until recently, Ukrzaliznytsia’s supervisory board consisted of five members.
Ukraine startups presenting at World Web Summit.
The event takes place in Lisbon, Portugal between November 1-4. Web Summit brings together the people and companies redefining the global tech industry, and this year the event expects 70,000 visitors and 300 speakers from all over the world. Ukraine will be represented by 10 startups who will present their projects in front of the global tech community. The Ukrainian companies presenting the projects include: Spokk, Organization.GG, Wantent, Global Innovative Online School, Carbominer, Skyworker, Classee, Djooky, FINMAP.online, Auto BI.
GUAM foreign ministers discuss the development of international logistics across countries.
Dmytro Kuleba took part in a meeting of the Council of Ministers for Foreign Affairs of the Organization for Democracy and Economic Development – GUAM (ukrinform). “We have outlined certain economic steps and projects that we will take to develop trade and international logistics through the GUAM countries,” said Kuleba. The parties discussed further political cooperation within the organization, sectoral cooperation between Ukraine, Georgia, Moldova, and Azerbaijan in the fields of economy, trade, transport, IT, and innovation.
The Surkis brothers lost the lawsuit against Poroshenko and Gontareva.
A London court rejected the $350 mln claim against Petro Poroshenko and Valeria Gontareva in the PrivatBank case. The London court issued their decision with denied the claim that Igor Surkis and a group of companies owned by his family regarding the nationalization of PrivatBank. The loss of $ 350 mln deposited by the Surkis companies during the nationalization of PrivatBank fell under the bail-in procedure since the Surkis Brothers were recognized as related to PrivatBank.
The State Property Fund is selling a distillery in the Poltava region.
For the fourth time, the State Property Fund has put the Vishnyakovsky distillery up for auction. The asset includes the separate property of the Vishnyakovo place of operation and the storage of alcohol of the State Enterprise Ukrspirt in the Poltava region. The Online auction is scheduled to be held on October 22nd. The successful bidder will receive 25 real estate assets with a total area of 11,134.2 square meters. The distillery is also located on a land plot with
Turkish unmanned combat aerial vehicles (drones) to be produced in Ukraine.
Ukraine’s Foreign Minister, Dmytro Kuleba, said there will be an announcement when the heads of both states meet 112.international. The construction of the Turkish medium-altitude long-endurance combat aerial vehicles will be undertaken at the Bayraktar plant.
Business confidence buoyed by financial strength by end-2021.
In 2021, 90% of business representatives gave an upbeat forecast on their companies’ financial health at the end of the year: 62% will achieve planned financial results, 28% will achieve more than was planned, and only 10% of companies will fail to achieve planned financial results according to a survey of the AmCham jointly with Citi Ukraine.
VII Kyiv International Economic Forum will be held on Oct. 7-8 in Kyiv.
On October 7 and 8, the Kyiv International Economic Forum (KIEF) takes place in the nation’s capital. Bringing together well-known world economists, influential businessmen, representatives of the Ukrainian establishment, and authoritative economic experts. Over 130 speakers from leading international organizations and private companies, in particular WTO, EBRD, OECD, Club of Rome, World Economic Forum, McKinsey & Co, Mastercard, and cross-border investors, will share their vision of the future of the global economy, reported kyivpost.
Modern Park to be built in Kaniv near Shevchenkivsky Cultural Center.
After the completion of the construction of the Shevchenkivsky Cultural Center in Kaniv, Cherkasy region, a modern park is being built nearby. A modern recreation space was named the Shevchenko HUB. A park without barriers and adapted for people living with disabilities said Oleksandr Skichko, the Governor of the Cherkasy on his Facebook page.
The attempted assassination of Serhiy Shefir, a key member of the Presidential advisory team, led to Zelensky cut short his trip to the US to back to Kyiv. The incident illustrates the tremendous pressure that the Ukrainian President is under in his war against oligarchs and the corrupted system which does not serve the state let alone the citizens of Ukraine. Zelensky is on the right path to restore law and order, ensure the rights of private property, and clean
Volodymyr Zelensky met with the President of the 76th session of the UN General Assembly.
Zelensky stressed the importance of approving at the plenary session two General Assembly resolutions that Ukraine and its partners plan to submit: “The human rights situation in the temporarily occupied Autonomous Republic of Crimea and the city of Sevastopol, Ukraine” and “The problem of the militarization of the Autonomous Republic of Crimea and the city of Sevastopol, Ukraine, as well as parts of the Black Sea and the Sea of Azov”. “These documents are a practical tool for protecting human
In New York, Zelensky also met with NATO Secretary General Jens Stoltenberg.
He thanked the Secretary-General for NATO’s continued support for Ukraine, noting the importance of its representative’s participation in the Crimea Platform Summit that was recently held in Kyiv. The President stressed that over the past two years that Ukraine has almost completed the formation of a new integrated national security system, which is entirely based on the standards of NATO member states. “Our course for NATO membership, the principles, and standards of the Alliance are the basis of all guiding
During his brief visit to New York, Volodymyr Zelensky took time to meet business leaders including the President of Microsoft.
At the meeting, the President discussed the implementation of digitalization and prospects for the development of the national IT market. A market that offers favorable tax and legal regimes for IT companies wishing to open for business. Zelensky stressed the importance of supporting the construction of infrastructure for cloud services in Ukraine. “We are interested in further expanding Microsoft’s presence in Ukraine and deepening cooperation in the context of the digital transformation of our country,” said the Ukrainian President.
The volume of short-term external debt decreased in the first half of the year by 2.5% – the NBU reported.
The volume of short-term external debt with a residual maturity (payments in the next 12 months) for the first half of 2021 decreased by 2.5% to $ 47.3 billion. According to the report, Ukraine’s gross external debt in the first half of the year decreased by 0.3% to $ 125.3 billion. In terms of GDP, it decreased to 75.9% from 81.2% at the beginning of the year.
The US is opening its market to exports of Ukrainian corn and wheat.
“We are very much looking forward to the opening of the US market for Ukrainian corn and wheat because it will create new prospects for business development and economic growth of our country,” Magaletska said. Ukraine is expected to export a record 23.5 million tons of wheat. (www.gov.ua)
Record-High Gas Prices Affect Many European Corporate Sectors reported
Fitch Ratings. Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, fertilizer producers and consumer goods companies. According to Fitch Ratings smaller companies in these industries are under the most pressure, while larger and more diversified issuers rated by Fitch are better positioned to mitigate the impact. Gas prices could remain high until the end of the winter heating season, given low levels of natural gas in European storage facilities.
Government proposes to strengthen consumer protection on the Internet,
said Prime Minister Shmyhal. Consumer security is one of the main priorities of the state and the Government, as the consumer is the main investor in the country’s economy. “Today, there is a problem when a person cannot complain or return a product bought online. Therefore, we propose to change this by introducing a mechanism for voluntary identification of the seller in the register of online stores.
Farmak opens an office in the UAE.
The Ukrainian pharmaceutical company has opened an office in the United Arab Emirates and plans to further strengthen its expansion in the Middle East and localization in Saudi Arabia and Egypt. The company said that its production facilities have successfully passed certification in the UAE government bodies. The company also registered various products which are being purchased at public and local hospital tenders in the region.
SKyUP airlines started its first flight to Poland.
The charter airline company has expanded into regular flights with the launch of its first scheduled flight to Poland – from Kyiv Boryspil airport to Lodz. SkyUp will fly to Kyiv-Lodz twice a week on Mondays and Thursdays. The airline’s plane will depart from the Ukrainian capital at 18:40 and from Lodz at 20:20. Travel time will be just under 2 hours.
The UBN wishes to provide an update and correction regarding VR Capital litigation with UZ. VR Capital will appeal to Supreme Court against the decision of the Court of Appeal on the invalidity of the right of claim against Ukrzaliznytsia declaring invalid the contract for the assignment of Ukrzaliznytsia debt between Prominvestbank and the New York-based investment fund, VR Global Partners, L.P. VRGP strongly disagrees with the decision of the court, which is clouded by alarming evidence of political interference
At the UN General Assembly, President Zelensky will discuss how UN can help to liberate Ukrainian territories.
“We must not only speak but also demand appropriate action. We are looking for solutions in Donbas and Crimea, at all sites. Yes, the UN is one of the main sites and we should not miss this opportunity,” Zelensky said during his visit to the U.S. “It is very important for us that the UN recognizes the Crimea Platform. I think we can talk about the support of Ukraine by our partners at this very difficult time,” Zelensky concluded.
For the first time since Russia’s illegal annexation of Crimea, it held elections on the territory of the disputed peninsula.
According to the Atlantic Council, the elections have been a source of contention between Russia and the international community. OSCE election observers refused to monitor the polls in Crimea, and the US and EU condemned them on September 18 as being both illegal and illegitimate. The Ministry of Foreign Affairs of Poland announced the illegality of the Russian parliamentary elections in occupied Crimea, and also condemned the large-scale provision of Russian passports to Ukrainian citizens, and the organization of electronic
French and Russian Foreign Ministers to discuss Ukraine, Afghanistan at UNGA.
The talks of the foreign ministers will take place this week (112.international). TASS reported that the Foreign Minister of France, Jean-Yves Le Drian, and his Russian colleague, Sergey Lavrov, plan to meet during the UN General Assembly in New York. Jean-Yves Le Drian stated his intention to discuss with Lavrov Iran’s nuclear deal with China and Russia. Moreover, they will also discuss the emerging situation in Afghanistan and Ukraine.
The net profit of Ukrainian banks was valued at UAH 45.6 bln
($1.7 bln) in January-August 2021, which is UAH 13 bln ($0.48 bln) more than in the same period in 2020. This announcement which was posted by the NBU on its Telegram channel concluded that the 40% increase in profitability illustrates the healthy returns in the banking sector.
According to the Minister of Finance of Ukraine, Sergii Marchenko, the 2022 State Budget is an Investment in Person, Country and Future.
The total resource of the State Budget-2022 is UAH 1,465.7 bln ($54.9 bln) which is an additional UAH 161.7 bln ($6 bln) in comparison to 2021. The priorities of the State Budget-2022 are: ensuring a quality level of medicine and education; creating an inclusive educational environment and barrier-free space; support for veterans; strengthening the defense capability and security of the state; and development of infrastructure;
The Verkhovna Rada adopted the bill legalizing the work of freelancers.
The use of a fixed-term employment contract increases employee mobility, gives greater freedom of choice in exercising the right to work, as well as creates a convenient legislative mechanism for legalizing freelancers who prefer short-term projects and are not limited to one customer (ukrinform). The number of fixed-term employment contracts with one employer may not exceed 10% of the total number of employment contracts to which this employer is a party. The employee will be able to combine legal work
The American Chamber of Commerce and Citi Ukraine presented the results of the new survey on doing business in Ukraine.
The survey concluded that the biggest obstacle to doing business in Ukraine was the judicial system. This was the opinion of more than half – 56% – of companies that are members of the American Chamber of Commerce in Ukraine who took part in the survey. Other major obstacles are also related to the lack of the rule of law. According to the respondents, doing business in Ukraine, in addition to the courts, is hindered by law enforcement agencies (32%),
The first caravan of 2 barges and 1 tug passed through the newly build Dnipro lock.
It is planned to implement a series of such locks to improve Dnipro River logistics. This type of lock allows ships to save up to 8 hours in one pass. The saved time will allow the shipowner to make up to 10 trips a year and to transport up to 100 thousand tons per navigation. This is another step towards the development of water logistics, which should become a convenient alternative to road and rail transportation, said the Minister of
Interpipe will invest $1 mln to increase the production of pipes for mechanical engineering.
“With the help of this equipment, the company will be able to gain a foothold in a new segment. Interpipe supplies the bulk of pipes for mechanical engineering to Europe, the Middle East, and the CIS”, said company representative, Denys Morozov.
The US Congress has proposed to increase the amount of security assistance provided to Ukraine by $50 million.
This will increase the total to $300 million, according to the draft US defense budget for 2022. The Ambassador of Ukraine to the United States, Oksana Markarova, said that the draft budget should be supported by both chambers of the US Congress (open4business).
The construction of the “Japanese” bridge across the Southern Buh is planned to begin in December 2021.
The bridge construction will take eight years to complete, and the preliminary cost is estimated to be $700 million. The proposed bridge was first raised by the Japanese ambassador to Ukraine who visited Nikolaev in 2013 (The Odessa Journal).
The Property Fund of Ukraine has sold a large number of state-owned companies at the Prozorro auctions. Most of these companies were unprofitable and were heavily subsidized using taxpayers’ funds. The outcome of these auctions illustrates that the President’s office understands one thing. If we do not know how to run these companies successfully, let the private experienced business people do the job. This will help the state to replenish the budget, and remove the burden of financing companies that
Ukraine plans to issue Eurobonds valued at $1.5 bln.
The government borrowing plan for 2022, submitted by the government to the Verkhovna Rada along with the draft state budget. It involves the issue of Eurobonds with a maturity of 5-15 years for the equivalent of $1.5 billion, or UAH 42.9 billion. The weighted average interest rate on them is 7.5%.
NBU forecasts the key policy rate reduction in the second quarter of 2022.
One of the main drivers of such inflation dynamics is the sustained high price level in the global commodity markets. Inflation in Ukraine’s MTPs also remains high, although in August there were signs of a slowdown. Raising the key policy rate to 8.5% in 2021 and rolling back the emergency monetary measures will be sufficient to ease inflationary pressures and return inflation to 5% in 2022 announced the NBU Monetary Policy Committee.
German President to visit Ukraine on Oct 6.
The President of Germany, Frank-Walter Steinmeier, will visit Ukraine on October 6 at the invitation of Ukrainian President Volodymyr Zelensky (Interfax). Zelensky and Steinmeier will take part in an event dedicated to the 80th anniversary of Babyn Yar. In addition to the memorial ceremony, discussions are planned with the participants of the event.
A large-scale wind project that will be located in the Kherson region in Southern Ukraine will commence construction in 2023.
The project will bring EUR 76 mln of investment and creating 360 jobs to the region. CMS Cameron McKenna Nabarro Olswang in Kyiv advised CWP Europe (CWP) on the acquisition of 73MW wind project. An acquisition represents an important step for CWP and its ambitious plans in Ukraine. A market where renewables only account for a 4% share of overall energy generation in 2015 and is now projected to reach up to 25% over the next decade.
Ukraine and Azerbaijan agreed to increase the quota for road transport.
In 2021, the Ukrainian side will receive an additional 850 universal permits and 150 for transportation to and from third countries reports the Ministry of Infrastructure. By 2022, the quota of universal permits has been increased by 45% to 3,200, and by 27% to permits for transportation to and from third countries to 1,400.
The ports of Ust-Dunaisk, Belgorod-Dniester, and Skadovsk will be privatized.
Local and cross-border investors will be able to participate in online auctions for the privatization of the three ports in the sea harbors of the Odessa region. The privatization was announced by the head of the regional branch of the State Property Fund of Ukraine (SPFU).
Metinvest enterprises will allocate UAH 26.7 billion for dividend payments.
PrJSC Mariupol-based Illich Iron and Steel Works (Donetsk region) will pay UAH 11.004 bln for the payment of dividends from retained earnings, Azovstal – UAH 7.718 billion, PrJSC Dniprovsky Coke and Chemical Plant (Kamianske, Dnipropetrovsk region– UAH 1.774 bln, PrJSC Avdiyivka Coke and Chemical Plant UAH 2.365 bln , and PrJSC Zaporizhkoks – UAH 3.867 bln.
Ukrainian steel companies boosted export revenue by 73.1%
during the January-August 2021 period (ukrainianjournal). Overall Ukrainian metallurgical enterprises in this period increased revenue from exports of ferrous metals by 73.1% compared to the same period last year, to $8.918 billion from $5.150 billion.
In January-August, Ukraine reduced the import of oil and petroleum raw materials by 14.5%
(by 130,702 tons) compared to the same period in 2020 (770,824 tons). According to the State Customs Service, in this eight-month period, raw materials worth $354.808 million were imported, which is 20.8% more than in January-August 2020 ($293.75 million), including from Azerbaijan – for $287.823 million, Libya – for $37.032 million, and Algeria – for $29.421 million.
The Deputy Chairman of the Fund, Yuliya Byelova, announced that the new Automatic Real Estate Valuation Service has already issued 380 thousand certificates.
The Automatic Real Estate Valuation Service is an innovative product that allows users to quickly and free of charge receive certificates with the appraised value of their real estate. The Valuation Service uses data of registered valuation reports, information from SPAs, and open sources of the real estate market, including data from search engines such as LUN and OLX, with which the Fund entered memorandums.
Foreign direct investment growth in Ukraine.
UkraineInvest has already received applications for almost $ 2 billion of investment, announced its CEO, Sergiy Tsivkach. In the first half of the year, foreign direct investments increased by $ 2.7 billion compared to the same period last year. This included investment in 9 projects in the Agro-processing sector valued at $534 million, 9 projects in the processing industry and production valued at $516 million, 5 projects in the logistics sector valued at $ 531 million, and an investment of
The draft State Space Program of Ukraine for 2021-2025.
The government committee approved the draft State Space Program of Ukraine for 2021-2025. Among the main tasks of the Program are the creation of space Earth observation systems, the introduction of space technologies in the services market, the creation of rocket and space technology, basic and applied research in the field of space activities.
Ukrzaliznytsia agrees to pay some of the Debt to VR Global Partners L.P.
In 2019, Ukrzaliznytsia’s debts to PJSC Prominvestbank valued at $153.25 million were sold to VR Global Partners L.P. UZ stating that they are ready to pay only confirmed debt obligations and are not ready to allow double penalties (reports). “Ukrzaliznytsia also did not agree with the interest to be paid on the debt from 10 to 11%, however, 3% interest rate would be more accurate.
Kharkiv’s IT success shows the way for other Ukrainian cities.
Ukraine’s second-largest city, Kharkiv, is well on its way to becoming a major regional IT powerhouse, according to a new report from the Kharkiv IT Cluster. Carried out in partnership with KPMG, the report concludes that the Kharkiv region is now home to more than 45,000 IT specialists, and 500 IT firms. Despite the Covid-19 pandemic, growth over the past two years has been strong. The estimated value of the Kharkiv IT industry is approximately $1.5 bln in 2021, an
The Chief Sanitary Doctor of Ukraine, Ihor Kuzin, announced that more than 98% of Ukrainians who were hospitalized with coronavirus over the last three months were not vaccinated.
“According to the e-system of healthcare, over the last three months, almost everyone who ended up at hospital due to complications from Covid-19 in Ukraine has not been vaccinated yet. If you want to save yourself, get vaccinated today “, Kuzin said.
The Cabinet of Ministers has decided to extend adaptive quarantine restrictions and the emergency situation regime until December 31, 2021.
The decision on the extension of adaptive quarantine restrictions was approved at a government meeting on September 20 (Ukrinform). The current epidemic situation is under control and the healthcare system is ready to respond to a new wave said Minister of Health Viktor Liashko.
Even with the illegal occupations in Crimea and eastern Ukraine, cross-border investors are illustrating their confidence in Ukraine. The emerging IT sector is booming, along with the agricultural sector as it breaks harvest records almost every year. With confidence in the Ukrainian market growing, investors are diversifying their investment into new sectors including wind projects, which are supported by government programs to improve and upgrade infrastructure. The big construction program that was launched by President Zelensky in the fall of
President Zelensky to take part in 76th Session of United Nations General Assembly.
He arrives in the U.S today. Apart from his address to the General Assembly, he will hold bilateral meetings, in particular with leaders of other states and representatives of international institutions, including UN Secretary-General Antonio Guterres. President Zelensky will also meet with business representatives and investors.
Russian-Belarussian military exercise threatens Ukraine and others.
The joint Russian-Belarusian combat training, known as Zapad, is held every four years. This year, in light of the most recent developments resulting in heightened tensions, Zapad-2021, carried out on 10-16 September, has posed a potential threat to neighboring states including Ukraine because of the buildup of military forces there. Poland, Lithuania, and Latvia have declared a state of emergency along their border with Belarus. All three countries have seen a huge increase in the number of irregular migrants trying
Ukraine-US to hold joint military training.
They will start joint military exercises in western Ukraine this week, the Ukrainian General Staff announced within days of the Russian-Belarusian Zapad 2021 military exercise, Reuters reported. The main goal is to “prepare for joint actions as part of a multinational force during coalition operations.” Ukraine views military exercises with Western partners as an important step on the path to NATO.
Russia violates international law by including voters in the Russian elections from occupied Ukrainian territories.
Ukrainian officials have slammed Russia for extending voting to the Russian State Duma on 17-19 September to Crimea, occupied by Moscow in 2014, and areas it has occupied in Ukraine’s Donbas, Euronews reported. Moscow has distributed more than 600,000 passports in those parts of eastern Ukraine under its control, where citizens could vote electronically or in the Russian border region of Rostov. The Ukrainian foreign minister Dmytro Kuleba said Russia was committing a “flagrant violation” of international law. He called
The State Statistics Service has published new data on exports of Ukrainian goods. In January-July 2021 they grew by 33.4%. Exports to the European Union increased by almost 50%. Significant growth is taking place in most major sectors of the economy. For example, according to Prime Minister Denys Shmyhal, sales abroad from the machine-building industry increased by almost 30%.
President’s office estimates Ukraine’s GDP at 3.8 in 2021.
Deputy Head of the President’s Office Yulia Svyrydenko says: “We expect that a full-fledged economic recovery will take place during this and subsequent years. This year we forecast the growth [of GDP] at the level of 3.8%.” She noted a recovery in private consumption and external demand. The Ministry of Economy has confirmed its growth forecast for 2021 at 4.1%, while the National Bank expects the GDP growth at 3.8%.
National security committee recommends parliament pass law on oligarchs,
reports ukrinform. The Verkhovna Rada Committee on National Security, Defense, and Intelligence has recommended that Parliament adopt at second reading the bill “On Prevention of Threats to National Security Related to Excessive Influence of Persons Who Have Significant Economic or Political Weight in Public Life (Oligarchs)”. It’s planning to consider it at a plenary meeting on Thursday, September 23. The second reading of the bill received more than 1,270 amendments, but they have been addressed by the committee.
Ukrainian-Danish cooperation under Danida Business Finance program discussed.
Deputy Prime Minister, Minister for Reintegration of Temporarily Occupied Territories Oleksii Reznikov met with Danish Ambassador Ole Egberg Mikkelsen to discuss this. Several priority areas have been identified in which projects will be selected for funding under the program. These are renewable energy, energy efficiency, heat supply, water supply, and water purification. The projects are being implemented in the Donetsk, Luhansk, Mykolaiv, Kharkiv, and Kherson regions. Their minimum cost is €13.5 mln, with the maximum cost being over €100 mln.
DTEK agrees with US-based HC Trading on supply of 150,000 tons of coal.
On September 16 DTEK agreed with the U.S. company HC Trading (Heidelberg Cement Group) on the supply to Ukraine of two shiploads of American thermal coal with a total volume of 150,000 tons, the company announced in a press release. It’s expected that coal will be delivered in two shiploads – the first in December 2021, the second in January next year.
New Technology Park in Kyiv planned.
The National University Kyiv-Mohyla Academy (NaUKMA) together with the Bureau of Investment Programs (BIP) NGO are planning to create a technology park in an educational building located at 2/4, Glazunov Street for UAH 50 million with the participation of an investor. After restoration, the territory will be able to accommodate about 40 resident companies and co-working spaces for students,” the Director of BIP Oleksandr Bondarenko said.
Parliament may pass a law on biomethane in early October.
The Verkhovna Rada may in early October support a bill that would define the term “biomethane” and introduce guarantees about its origin. This was announced by the adviser to the chairman of the board of “Naftogaz” Alexei Ryabchin during a round table, Ukrinform reports.
NovaPay payment system becomes a partner of Visa and MasterCard.
The NovaPay payment system has become a member of the international payment systems Visa and MasterCard. The company claims that NovaPay is the first among private non-bank financial institutions to have become a full member of this international payment system.
Ukrainian startup GitLab has applied for an IPO on the US stock exchange.
So far, GitLab has attracted more than $ 400 million in investment. The initial public offering will take place on the US Stock Exchange NASDAQ. Placement will take place under the GTLB ticker. In 2019, the startup GitLab attracted $ 268 million, and its valuation rose to $ 2.7 billion. In 2020, according to CNBC, the company’s valuation rose to $ 6 billion.
Ryanair is preparing a significant expansion in Ukraine.
After Ukraine signs the open skies agreement with the EU. Expected by the end of 20121, the Irish low-cost carrier Ryanair plans to significantly expand its operations in Ukraine. This was reported by Reuters, citing the company’s CEO Michael O’Leary. The head of Europe’s largest low-cost says. “One of the markets that I would single out is Ukraine. I think we will become the leading investor in Ukraine when they join the European open skies agreement”
President Zelensky has flown to the U.S. again, this time to present Ukraine’s case before the international community at the UN General Assembly, and no doubt to follow up on meetings he’s had in recent weeks with U.S. and other international officials. But at the same time, attention will be focused on what happens in the Ukrainian parliament this week. Will his Servant of the People faction manage to get the critical law on oligarchs passed and thereby signal a
Hydrogen energy has taken one of the important places in the energy partnership between Ukraine and Germany
(gov.ua). Plans to create a hydrogen market in Ukraine and were discussed during a German-Ukrainian meeting of the Working Group on Hydrogen, as well as a discussion on “Ukraine: Prospects for Green Hydrogen Exports to Germany and the EU.” The State Secretary of the Federal Ministry of Economics and Energy of Germany, Andreas Feicht, stressed that Germany plans to look for reliable international partners and called on Ukraine to take advantage of its competitive advantages: the great potential of “green”
Ukraine wants all-natural gas pipelines to receive equal treatment
which will allow traders to ship Russian gas to markets in the European Union said CEO Naftogaz Yuriy Vitrenko. Speaking at a meeting with Andreas Feicht, ahead of Germany’s process to certify the Russian pipeline Nord Stream 2 AG. “All companies should receive non-discriminatory access, like Gazprom, to all gas pipelines that connect Russia and the European Union. So that European companies can decide for themselves which pipeline they will transport gas through. We explained how it works and why
Foreign Affairs Minister Dmytro Kuleba has confirmed that Ukraine and the United States are discussing the delivery of the Iron Dome
mobile all-weather air defense system the Ukrainian News Agency reports. The U.S. Department of Defense must submit a report to Congress, which will include options for the potential sale or transfer of such systems to Ukraine. It is noted that the bill before the US House of Representatives already contains a proposal to provide military assistance to Ukraine to the tune of USD 275 million, not including the transfer of air defense systems.
DP World TIS – Pivdennyi has been servicing the weekly L74 service of the Maersk.
The terminal received the first Safmarine Nuba, handling a total of 638 containers. In June Maersk announced the consolidation of all shipping to Ukraine at one container terminal, choosing DP World TIS Pivdennyi. The service combined DP World TIS Pivdennyi with the largest Egyptian port of Port Said. This cooperation opens additional opportunities for Ukrainian exporters to enter the markets of the Middle East.
The Cabinet of Ministers proposes the Verkhovna Rada to establish a subsistence minimum of UAH 2,393 ($89) from January 1, 2022, and a minimum wage of UAH 6,500 ($240)
reported ukranews.com. It is envisaged that in 2022 the subsistence minimum wage from January 1 will be UAH 2,393 ($89), from July 1 – UAH 2,508 ($93), and from December 1 – UAH 2,589 ($96).
Ukrgazvydobuvannia plans to boost production.
The company has begun to use new technology for Ukraine’s basin analysis and modeling of hydrocarbon systems for prospecting and exploration of hydrocarbons. The company’s communications department said:“ New technology will allow reducing risks, primarily in drilling, to improve the accuracy of risk assessment both for individual promising objects and for large geological structures in order to increase the resource base and production of Naftogaz,”
Production of the tractors, mounted and trailed mowers in Ukraine decreased 83.3% over 2017-2020
– from 3,590 to 600 items, while their imports (excluding imports from China) tripled – from 1,430 to 4,240 items. This trend threatens to oust domestically produced equipment from the Ukrainian market. (Institute of Agrarian Economics)
Anti-dumping duties on cement imports damaging Ukrainian producers.
Uriadovyi Kurier announced that the Interdepartmental Commission on International Trade introduced anti-dumping duties of 32.64-50.54% on cement imports from Turkey for five years. Turkish imports threatened local producers as indicated by a significant growth rate of the volume of dumped imports of goods originating from the Republic of Turkey to Ukraine.
Onur construction wins tender to build Dnipro Airport airfield
announced open4busines source. The winner of a tender for the construction of an airfield at Dnipro International Airport is Onur Construction International. The value of the construction project was announced on the ProZorro public auction site as being an estimated UAH 5.64 billion. The only other construction company competing in the tender was Rostdorbud whose bid of UAH 5.65 billion to complete the project was not successful.
Best Water Technology (BWT, Austria), investing €5 mln in Ukraine.
Partnering with Ecosoft (Irpin, Kyiv region), BWT will invest up to € 5 million in the development of the infrastructure for bottling purified water in Ukraine. Andriy Mitchenko, the CEO and co-owner of Ecosoft, made the announcement at a press conference and confirmed that his company has invested € 1 million in the development of the aqua box infrastructure, and will work with BWT on the rollout of the project. (Interfax-Ukraine)
UkraineInvest plans to launch “Make in UA” program
aimed at stimulating the investment market development for the entire country. “Make in UA” program highlights the most promising sectors and regions for placing production facilities in Ukraine, and provides recommendations on where to find the investors that will also help develop a network of industrial parks. “We are convinced that the future of Ukraine is to become a European manufacturing hub. In this context, we focus on medium-sized businesses, and envisage a healthy competition for investments among the Ukrainian
Yesterday a judicial reform meeting was held at the President’s Office.
Sources in the Council of Judges told Interfax-Ukraine that President of Ukraine Volodymyr Zelensky said “I will not allow the blocking of the main reform of the country, which I promised to the Ukrainians and which I initiated. Every illegal action aimed at blocking judicial reform will be immediately evaluated and rebuffed. I will not allow judges who are hindering the reform and cleaning of the judicial system to deprive Ukrainians of the right to justice. And judges who want
Ukraine plans to launch production of mRNA vaccines
Commenting on the local production of vaccines by Lekhim Company in Kharkiv, the Health Minister said that the Ministry has reached agreements on the location of the production of other vaccines in Ukraine including the potential to produce mRNA vaccines locally. www.rbc.ua
Ukrainian politicians spend far too much time and energy discussing Nord Stream-2. The threat and damages both to the country and economy and so on. As politicians, they need to realize the fact that nobody will stop Nord Stream-2 from opening and starting pumping gas to Europe. The project investors had this intention, and nothing will stop the completion of the € 9.5 bln pipeline. Ukraine needs to devote more resources and political will to become energy independent and look
The Ukrainian government has approved a draft budget for 2022
with a deficit of 3.5%, Reuters has reported. The gross domestic product (GDP) deficit is down from 5.5% in 2021. Speaking during a televised government meeting, the Prime Minister, Denys Shmygal said: “The budget for 2022 is not only balanced and realistic but also the budget for modernizing the country, restoring the economy and investing in people, in their health, education, and development. The draft is based on a forecast of 3.8% economic growth next year compared to about 4%
The State Budget 2022 plans to allocate $7.3 billion to medicine
reported in 112international. The average monthly salary of a doctor will be $850, and nursing staff $550 per month. The Minister of Finance, Marchenko said that there will now be a minimum monthly salary for doctors of $755, and $490 per month for other medical staff.”
Draft Budget 2022 expenditures:
Census, Action and IT: almost ₴ 8 billion digital expenditures; ₴ 124.1 billion for the development of road infrastructure in Ukraine; ₴ 8 billion for agriculture; ₴ 7.5 billion provided for the development of the strategic industry; ₴ 158 billion for the Medical Guarantees Program; ₴ 193 billion for Medicine; and Expenditures on the security and defense sector are projected at 5.95% of GDP.
NBU and the World Bank Framework Program of Cooperation for 2022–2025
have been discussed by Kyrylo Shevchenko and the World Bank Vice President, Anna Bjerde. During the meetings they have identified areas in which the World Bank can support reforms to the Ukrainian economy. This includes the regulation of the non-bank financial sector, efforts to reduce the banking system’s NPLs, and the progress of corporate governance reform and state-owned banks privatization. The discussion concluded with the importance of the privatization of state-owned banks with the introduction of good corporate governance practices.