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A 200 kW solar power plant installed by furniture manufacturer Pavlyk M from Transcarpathia has saved €19,400 in just three and a half months of operation. The factory, which exports products to over 15 countries, consumes about 300 kW per hour, with 200 kW of that supplied by the solar power plant on sunny days. To install the system, the company invested ₴2M obtained on credit and approximately ₴900,000 of its own funds. The main goal was to reduce production

According to Defense Minister Denys Shmyhal, Ukraine will require at least $120B for its defense needs in 2026, and efforts are currently underway with EU and NATO member states to secure half of this amount through support from allies. The new Defense Minister outlined the strategic goals and defense priorities set by President Zelenskyy: More Ukrainian-made weapons – 50% should be produced locally Greater involvement of foreign companies willing to cooperate with the government and operate within Ukraine Increased supplies

At the 29th Ramstein format meeting, which was attended by 52 countries and organizations, Ukraine’s international partners confirmed their support for Ukraine in its fight for freedom and peace. The US, Canada, and EU countries announced additional assistance packages and the introduction of new cooperation mechanisms. In particular, the Allies will provide Ukraine with the following assistance: The US, together with NATO, is initiating a mechanism that will allow European countries to purchase American weapons for Ukraine and assist with

According to a survey of banking market players by the NBU, banks increased their customer acquisition and wholesale funding in the second quarter. The rise in the average cost of funding in the second quarter was mainly due to increased costs in retail funds, while the cost of wholesale funds remained unchanged. Respondents expect that in the third quarter, both household and business funding will grow, and wholesale funding will also increase. Overall, the cost of funding is expected to

Odesa Deputy Mayor Anna Pozdnyakova stated that a waste processing plant with a price tag of over $300M will be built in the Peresypsky district of the city under an intergovernmental agreement with South Korea. The project will follow the Korean WtE (waste to energy) approach, which transforms household waste into electricity and heat, while aligning with Ukrainian laws. “As a reference project, we take the example of a waste incineration plant in Warsaw, which was built by the Korean

The Ukrainian Council of Gunsmiths and the French Land and Airland Defense and Security Industries Association (GICAT) have signed a memorandum of strategic cooperation, marking a new chapter in the relationship between their defense sectors. GICAT represents 480 French companies, and the collaboration will facilitate the exchange of market analysis, the creation of a platform for cooperation between companies, and the organization of joint trade missions, forums, and exhibitions. The organizations will also work together on R&D projects, expand into

The National Security and Defense Council has established a ban on inspections by law enforcement, customs, tax, and other regulatory agencies during martial law. Going forward, inspections will only occur on a spot basis in high-risk areas, particularly those involving excisable goods. Plans are also underway to digitalize the state supervision system to prevent manual intervention in inspections. This initiative aims to remove artificial barriers that hinder business operations. The government is preparing to present a package of draft laws

Berlin and Washington concur that Ukraine should receive five Patriot air defense systems as soon as possible, German Defense Minister Boris Pistorius said during the 29th meeting in the Ramstein format, attended by more than 50 of Kyiv’s allies, including the US. He added that in the next few days he would coordinate with partners on the mechanism for implementing these plans. Additionally, he stated that the first German-funded long-range weapons for Ukraine would be delivered to the Armed Forces

As Ukrainian Defense Minister Denys Shmyhal stated at the 29th Ramstein-format meeting, this amount is necessary to address this year’s weapons deficit. He noted that this funding would enable Ukraine to ramp up production of FPV drones to sustain the front line, increase interceptor drones to defend against Shahed drone attacks, and acquire additional long-range weapons to “turn the war to the Russian Federation.” Shmyhal also highlighted the importance of preparing for 2026 and urged Ukraine’s partners to include funding

Ukraine aims to produce half of the weapons used by its armed forces domestically, including drones, armored vehicles, and ammunition. Since the start of the full-scale invasion, weapons production in Ukraine has increased 35-fold, and the country still has the potential to further boost these figures. Currently, 40% of the weapons at the front are Ukrainian-made. Overall, Ukraine plans to spend ₴2.6T (31.1% of GDP) on its defense this year. This week, the government will introduce grant programs for ammunition

On July 21, explosions illuminated the night sky, and the high-pitched whine of drone engines echoed through Kyiv during an attack that Ukraine’s air force reported as 426 drones and 24 missiles launched, with 23 drones striking targets across the nation. Many residents of Kyiv sought shelter in underground stations during another tense, sleepless night. Explosions were heard throughout the city as air defense units fought to intercept the attack. Moscow has intensified its long-range attacks on Ukrainian cities, and

According to the Russian Ministry of Energy, oil companies in Russia face delays in repairing refineries due to sanctions. These repairs are slowed by equipment supply chain issues. Meanwhile, Minister of Petroleum and Natural Gas of India Hardeep Singh Puri is confident that India can meet its oil needs through alternative sources if secondary sanctions impact Russian supplies. “India has diversified its sources of supply, and we have increased the number of supplier countries from about 27 to 40,” he

Metinvest Group received a €23.6M credit line from Deutsche Bank for 11.5 years to upgrade the Northern Mining and Processing Plant, including purchasing equipment from Finnish industrial manufacturer Metso Finland for a tailing thickening project. “The agreement is an important milestone for the group and reflects our commitment to long-term investments in our Ukrainian enterprises. Despite ongoing security challenges, we strive to maintain and, where possible, increase production capacity and improve environmental sustainability,” Metinvest noted. Deutsche Bank added that the

Ukrainian Prime Minister Yulia Svyrydenko said that during French Foreign Minister Jean-Noel Barrot’s visit to Kyiv, they discussed cooperation in defense, finance, reconstruction, and sanctions policy. “Our French colleagues saw how Kyiv is living after the night attacks. And this greatly intensifies the conversation about drones, air defense, and fighter jets which Ukraine needs right now. So, one of the topics is increasing military assistance and the transition to joint production in Ukraine,” she emphasized. Svyrydenko noted that Ukraine and

VEON, which owns Kyivstar and plans to indirectly list the company on the US NASDAQ stock exchange this year, initially wanted to also offer shares within Ukraine. However, regulatory obstacles are hindering this, according to VEON co-founder Ogi Fabela. “My dream is to turn Kyivstar into a people’s IPO. We face regulatory challenges in achieving this, but we are ready to collaborate with the Ukrainian government and financial sector. We want Ukrainians to have access to investment opportunities,” he stated.

According to an EBRD study, 47% of small and medium-sized businesses (SMEs) in Ukraine experienced a decline in profits in 2024, while 17% saw their profits increase. Despite the profit decrease, 66% of service companies continued investing in their businesses. In the industrial sector, this percentage was 52%. The main areas of investment for SMEs include production equipment (66%), energy supply equipment (45%), and personnel training (35%). If the war does not end in 2025, 1% of enterprises expect to

Due to hot weather and scheduled repairs at nuclear power plants – work is being done on three of the nine existing units – an electricity shortage has emerged in Ukraine, said Volodymyr Omelchenko, director of energy programs at the Razumkov Center. “On the positive side, I can highlight the fact that about 60% of our thermal and hydropower capacity, damaged in March-April 2024, has been restored. But there is still a capacity deficit, especially during evening hours. It is

The Euroclear financial group, which includes the depository of the same name and Euroclear Bank, earned €2.7B from Russian assets frozen due to EU sanctions during this period. This is 21% less than in the same period of 2024. In the first quarter, frozen Russian assets generated about €1.47B, and in the second quarter, €1.23B. It is noted that interest income from frozen Russian assets decreased due to gradually falling interest rates in the region. Looking ahead, Euroclear expects interest

The State Agency for Energy Efficiency, along with Ukrgasbank and Sense Bank, are starting a new initiative to reduce the cost of loans for the implementation of energy-efficient solutions, modernizing energy systems, and developing alternative energy sources. The goal of the program is to encourage the adoption of energy-efficient measures and decrease CO2 emissions across various economic sectors. The program operates through voluntary energy efficiency agreements, a partnership between the Ukrainian government and businesses, in which companies voluntarily commit to

Chinese President Xi Jinping wants to hold a meeting with US President Donald Trump and Russian President Vladimir Putin as part of the celebrations marking the end of World War II, scheduled in Beijing on September 3. Immediately, the Russian president confirmed his attendance. The date nearly coincides with the end of the ultimatum Trump issued to the Kremlin on July 14, which gave Putin 50 days to cease fighting in Ukraine. However, analysts believe that the US president’s visit