Advanced search

According to research by the Ribas Hotels Group, the country’s tourism industry is actively recovering despite the challenges associated with the war, the COVID-19 pandemic, and the annexation of Crimea. Since 2013, the number of collective accommodations in Ukraine has decreased annually by an average of 175 facilities. At the same time, the number of hotels has increased by 9.1%, motels by 10.7%, and hostels by 28.7%. The hospitality market’s recovery is being driven by domestic tourism, temporarily displaced persons,

The head of EU diplomacy, Josep Borrell, said that the main topics in the G7 foreign ministers’ meeting in New York were the support of Ukraine before the approach of winter and the avoidance of a major humanitarian crisis. “Putin is trying to achieve through energy collapse what he can’t obtain on the battlefield,” he says. According to him, the country needs more air defense systems, as well as receiving permission to attack military facilities on Russian territory: “Allow Ukraine

In order to finalize a $50B loan for Ukraine, secured by frozen Russian assets, the EU and the G7 countries must make a political commitment to participate in this initiative at the end of October, said Vice President of the European Commission Valdis Dombrovskis. “This will allow all creditors of the G7 and the EU to have enough time to start providing loans by the end of this year,” he clarified. In particular, EU authorities should quickly adopt four legislative

According to monitoring by the RRR4U consortium, the parties agreed on the successful fifth revision of the current cooperation program in early September. Soon, a decision from the Board of Directors of the IMF is expected, who must approve the provision of a $1.1B credit tranche to Kyiv. In December, Ukraine will have the sixth review of three structural beacons, one of which is approval of the methodology to audit tax benefits and losses from them. An audit will be

A generation deficit in winter and blackouts are unavoidable, and in the best-case scenario, there will be no electricity for up to five hours a day, said DTEK. And this is provided that Russia inflicts no further damage on the power system and temperatures do not drop below -15 degrees. The main problem this winter is the damage that has been done to the main power plants, not the substations, most of which are protected by shelters and are being

Since the start of the full-scale war, Russia has generated almost €800B from the sale of energy resources, of which €33B has been paid by EU countries for Russian LNG. The Center for Economic Strategy believes that Russian gas income can be significantly reduced with customs duty. Currently, Russian LNG is imported into the EU at a zero, most favored nation (MFN) rate, as Russia is a member of the World Trade Organization. Despite sanctions introduced in 2022, Russian gas

The VITAGRO group of companies, with assets in the agricultural, energy, processing, construction, and chemical industries, supplied biomethane into Ukraine’s gas transportation system, which will start the export of Ukrainian biomethane. “This is the first and only such event in Ukraine’s entire energy industry,” the company emphasized. It is noted that the €6M biomethane plant is currently operating at 60-70% of its planned capacity, and the daily volume of gas entering the gas distribution network is approximately 6,000 cubic meters.

One of the largest arms manufacturers in Europe, the French-German conglomerate KNDS, has opened a branch in Ukraine, as announced by the defense ministers of France and Germany in March. KNDS Ukraine is based in Kyiv and will be engaged in the maintenance and repair of KNDS weapons: Leopard 1 and Leopard 2 tanks, and Caesar, AMX10 RC, PzH 2000,  and Gepard anti-aircraft guns. The company will cooperate with Ukraine’s state institutions and the Ukrainian arms industry. In addition, KNDS

Estonia intends to restructure its military aid to Ukraine so that it is dominated by products from its domestic enterprises to provide support for the Estonian military industry, the country’s Defense Minister, Hanno Pevkur, said. In 2024, Estonia transferred €100M in military aid to Ukraine, about 0.25% of the country’s GDP. According to the Minister of Defense, Estonia’s industrial complex can produce more than €100M of products per year, and their range is both wide and in demand. “We have

According to the director of Ukrainian Armored Vehicles, Vladyslav Belbas, the manufacturer received only one proposal from a Western company in three years, which was to build a €20M plant to process nitrocellulose into gunpowder for. The output would be about 600 tons of gunpowder per year, enough for 160,000 rounds of 122 mm ammunition. He added that only the nitrocellulose processing stage was considered, which is not the most complex in the gunpowder production cycle. Belbas says that if

In August and September, Ukraine usually ships grain actively in all directions. But this year, ports and oil storage facilities are empty due to several factors that have affected the logistics market, according to brokerage company Spike Brokers. “This year, we expect the lowest export of grain and oilseeds in the last eight years. Grain will move in smaller quantities, which generally characterizes the market’s liquidity,” experts predict. It is noted that the war stimulated the development of alternative exports

Italian company Gesenu is ready to construct two waste processing plants in Transcarpathia, which will serve 400,000 and 550,000 people, respectively. The Italian government is ready to finance these projects. Investors identified the Uzhgorod and Khust districts as the most promising for the factories’ construction. The projects will comply with European standards but consider regional features and environmental protection factors. The plants will be designed to function without interruption for 20-25 years. In addition, constructing a river terminal with a

Given stable financing for the state’s preferential lending program, eOselya, the share of mortgage sales on the primary market will increase to 40-45%, experts from the DIM group of companies predict. DIM joined with two state programs, eOselya for affordable housing loans and eVidnovlennya, which provides compensation for destroyed or damaged housing, in the spring of this year. Since then, as recorded by the company, about 30% of all inquiries to sales offices have been related to the subsidized mortgage

Incoming NATO Secretary General Mark Rutte will need all of the coalition-building skills he honed as prime minister of the Netherlands to keep the Western alliance together amid the war in Ukraine, fears about Russia’s next moves, and political uncertainty in the US. On Tuesday, Rutte will replace Norwegian Jens Stoltenberg. Much depends on whether Rutte can build consensus within the 32-member Alliance. Its ability to protect the nearly one billion people under its care depends not only on military

The European Commission’s initiative to provide Ukraine with a €35B loan, which will be repaid with income from frozen Russian assets, is not supported by some key EU countries. The loan is intended to be part of a $50B package from the G7, but Germany, France, and Italy rejected the proposal last week. In turn, the US is ready to provide $20B from the overall package agreed on by the G7 if the EU modifies its Russian sanctions to make

As noted by the head of the National Bank, Andriy Pyshnyi, the regulator remains largely confident in the forecast it presented in July. “The economy will grow by 3.7% this year. The assumption regarding the electricity deficit for this year is 7%. If there is no new significant destruction, we can even improve it in October,” Pyshnyi noted. The head of the NBU drew attention to the fact that banks have united to provide financial support for the energy sector’s

The West has received evidence regarding the supply of weapons. By exporting goods to Russia that strengthen its military-industrial complex, Beijing is fueling Putin’s “military machine,” US Secretary of State Anthony Blinken said at a meeting with Chinese Foreign Minister Wang Yi during the UN General Assembly. According to Blinken, China supplies 70% of the machine tools and 90% of microelectronics that Russia imports, including those used for the production of armored vehicles and missiles. The diplomat emphasized that Washington

Almost all (10 out of 11) of the NBU’s Monetary Policy Committee members support keeping the discount rate at 13%. The NBU notes that the majority believes that the current rate level provides necessary protection for hryvnia savings against inflation, which is a prerequisite for the currency market’s stability. This, in turn, will help keep inflation moderate this year, turn downward next year, and further slow to the 5% target. One Committee member proposed raising the discount rate to 13.5%.

Military supplies for Ukraine for next year are in jeopardy due to some allies’ financial difficulties, and other countries are unwilling to increase their aid contributions. Ukraine is trying to convince its Western allies to fulfill their promises. At the same time, Moscow’s military machine dwarf’s Kyiv’s ability to obtain the necessary ammunition, missiles and equipment to defend against attacks. According to Bloomberg, the Russian economy works to provide for the military’s needs, while Ukraine’s allies do not possess war

European venture capitalists plan to invest $1B in defense technology by the end of 2024, which is 400% more than in 2018, as a result of Russian aggression in Ukraine. According to Dealroom, venture capital investment in defense technology outpaces any other type of investment in NATO countries by 25%. Germany, Britain, and France invest the most in space technologies among European countries, with an 87% share, or $2.2B. Investments in defense technology increased by 300% in six years to