Economy

Friday, October 18

Despite the challenges of the war, the size of the average deal in the Ukrainian M&A market continues to grow.

Despite the challenges of the war, the size of the average deal in the Ukrainian M&A market continues to grow. According to KPMG, activity in the Ukrainian M&A market has remained stable for the second year in a row, indicating cautious investor confidence despite the ongoing war. In the first nine months ...

A Ukrainian household goods market leader has resumed product deliveries to Central Asia.

A Ukrainian household goods market leader has resumed product deliveries to Central Asia. After a long pause, Biosphere Corporation, one of the largest in Ukraine in the household goods market, has relaunched its business in Uzbekistan. In the week since the first shipment, eight of the la...

A Turkish company has acquired a controlling stake in a Ukrainian equipment manufacturer for the oil and gas industry.

A Turkish company has acquired a controlling stake in a Ukrainian equipment manufacturer for the oil and gas industry. Dalgakiran Group, a Turkish industrial equipment manufacturer, has acquired a controlling stake in Ukrainian company Sensi, which specializes in producing gas compressors and specialized equipment for...

Thursday, October 17

Will the FATF decision destroy the aggressor country’s economy?

Will the FATF decision destroy the aggressor country’s economy? The Financial Action Task Force (FATF) will decide on October 22 whether to add Russia to its blacklist. Publicly, the FATF has stated that it considers Russia’s aggression unacceptable, but in ...

What are the operational threats for Ukraine’s metallurgical sector?

What are the operational threats for Ukraine’s metallurgical sector? Metallurgical enterprises in Ukraine are currently faced with three primary risks: the possible loss of coking coal production in Pokrovsk, problems with electricity supplies, and the sea corridor cea...

CRH finally acquires a cement producer in Ukraine for €100M.

CRH finally acquires a cement producer in Ukraine for €100M. International manufacturer of building materials CRH has officially completed a deal to purchase the assets of Dyckerhoff in Ukraine from Buzzi, an Italian company. The Dyckerhoff group’s total ...

The 2023 harvest brought 200% more profit to Ukrainian companies.

The 2023 harvest brought 200% more profit to Ukrainian companies. According to Agrohub, the actual EBITDA for the main crops in 2023 is $129 per hectare, while the forecasted values at the beginning of the year were not so optimistic – $94 per hectare. As well, co...

In Ukraine, visitors to shopping malls are increasing and new facilities are opening.

In Ukraine, visitors to shopping malls are increasing and new facilities are opening. In the first half of the year, the average number of visitors to shopping malls in Ukraine increased by 4% compared to last year. According to UTG, the number of visitors to shopping and entertainment...

Three industrial parks receive over ₴171M in state funding for infrastructure development.

Three industrial parks receive over ₴171M in state funding for infrastructure development. ₴171.4M in state funding within the framework of the Made in Ukraine program has been allocated to three industrial parks. The support will go to the Bila Tserkva 2 (Kyiv region), VinIndustry (Vinnyt...

Wednesday, October 16

Domestic investment in Ukrainian enterprises approaches $9.5B.

Domestic investment in Ukrainian enterprises approaches $9.5B. According to Andriy Bukin, Deputy Chairman of the Board of Pivdenny Bank, 72% of these funds were invested by entrepreneurs, 15% was money from state or local budgets, and bank loans account for only ...

Europe is not interested in returning Ukrainian refugees to their homeland.

Europe is not interested in returning Ukrainian refugees to their homeland. Emigration from Ukraine will continue. According to immigration specialist Andriy Haidutskyi, this is influenced by such factors as: High difference in wages. Salaries in Poland are 300% higher, in Br...

Half of the economy, and ₴500B in taxes, are in the shadows,

Half of the economy, and ₴500B in taxes, are in the shadows, said the head of the Parliamentary Finance Committee, Danylo Hetmantsev. However, he specified that after measures taken by the state, this amount will decrease to ₴420-430B ($10B). At the same time, ...

Ukraine exports about 40 million tons of grain this season, and the shipment rate has increased by 100%.

Ukraine exports about 40 million tons of grain this season, and the shipment rate has increased by 100%. Deputy Minister of Agrarian Policy Taras Vysotskyi stated: “Due to difficult climate conditions, this year’s harvest is somewhat smaller than last year’s. Also, there are no transiti...

Ukraine will sell confiscated Russian construction material factories.

Ukraine will sell confiscated Russian construction material factories. The Cabinet of Ministers have allowed the State Property Fund (SPFU) to auction the state’s ownership Aeroc, an aerated concrete production enterprise seized in 2022 from Russian Andrey Molchano...

For the first time since the beginning of the war, foreign investors have bought a Ukrainian cloud software company.

For the first time since the beginning of the war, foreign investors have bought a Ukrainian cloud software company. The Polish ASEE Group, part of the Asseco Group, acquired Ukrainian company Askep.net, a leading provider of healthcare software. This is the first M&A deal with a Ukrainian SaaS company since the...

Tuesday, October 15

Despite sanctions, the volume of Russia’s shadow fleet has increased by 70% in one year.

Despite sanctions, the volume of Russia’s shadow fleet has increased by 70% in one year. According to KSE analyses, Moscow has increased the volume of its shadow fleet of oil tankers by almost 70% despite restrictions targeting insurers and shipping companies. The volume of Russian oil tr...

The shortage of new workers in Ukraine will reach 5-10 million people by 2030: Experts advise how to overcome this challenge.

The shortage of new workers in Ukraine will reach 5-10 million people by 2030: Experts advise how to overcome this challenge. According to the director of the USAID mission in Ukraine, Theodora Dell, human resources can be gathered from the country’s own potential. “Currently, the employment rate in Ukraine is 52...

Monday, October 14

The tax increase will bring a corresponding increase in Ukraine’s shadow economy.

The tax increase will bring a corresponding increase in Ukraine’s shadow economy. Because of the retrospective increase in taxes from October 1, businesses are transferring their workers to the shadow employment sector. This will increase the shadow economy by 10 percentage points,...

In September, prices for goods and services in Ukraine rose faster than the National Bank’s forecast.

In September, prices for goods and services in Ukraine rose faster than the National Bank’s forecast. Consumer inflation accelerated to 8.6% year-on-year in September against 7.5% in August. “The actual pace of price growth was higher than the forecast published in the Inflation Report for July ...

Increased Russian attacks on Ukraine’s seaports spur rising costs for ship insurance.

Increased Russian attacks on Ukraine’s seaports spur rising costs for ship insurance. The cost of insurance for ships passing through the Ukrainian Black Sea export corridor has increased significantly during the last week due to increased Russian attacks. The insurance price exceeds 1...

Analysts summarize September’s results for Ukraine’s real estate market.

Analysts summarize September’s results for Ukraine’s real estate market. According to the experts, two new buildings in the Lviv region and one in the Kyiv region were commissioned in September. The average cost per square meter in dollar equivalent increased by 1-6%, depe...

Friday, October 11

The Ukrainian Parliament approved a record tax increase.

The Ukrainian Parliament approved a record tax increase. On October 10, the Verkhovna Rada adopted draft law No. 11416-d, enacting a historic tax increase. The document provides for: An increase in the military levy from 1.5% to 5%, except for the military ...

Russia continues to bombard the Ukrainian sea corridor, and Ukraine continues to increase its grain exports.

Russia continues to bombard the Ukrainian sea corridor, and Ukraine continues to increase its grain exports. On October 9, Russia struck the port infrastructure in the Odesa region with ballistic missiles, damaging a civilian container ship, Shui Spirit, sailing under the Panamanian flag. This is the third f...

Polish businesses sign agreements to rebuild Ukraine at the Common Future Congress on the Reconstruction of Ukraine in Poland.

Polish businesses sign agreements to rebuild Ukraine at the Common Future Congress on the Reconstruction of Ukraine in Poland. Several agreements were signed by the Ministry of Funds and Regional Policy of Poland and BGK, a Polish state development bank, which provide for the establishment of a PLN 250M ($65M) special fund to...

The Ukrainian government has approved contracts under which €95M will be invested in the Ukrainian economy.

The Ukrainian government has approved contracts under which €95M will be invested in the Ukrainian economy. The Cabinet of Ministers has approved investment contracts regarding significant financial infusions into the Ukrainian economy, bringing about €95M in investment. Ukrainian legislation provides that ...

Thursday, October 10

WTW sees new market opportunities and offers insurance policies for organizations planning to operate in Ukraine.

WTW sees new market opportunities and offers insurance policies for organizations planning to operate in Ukraine. Foreign and local companies in Ukraine have adjusted to the new realities and continued to work and try to expand their operations during the war. Moreover, many companies are considering entering the...

The Azerbaijani owner of Vodafone Ukraine has purchased the United Mining and Chemical Company for almost ₴4B.

The Azerbaijani owner of Vodafone Ukraine has purchased the United Mining and Chemical Company for almost ₴4B. The State Property Fund (SPFU) sold 100% of the United Mining and Chemical Company’s shares to the Cemin Ukraine firm, which offered ₴3.94B ($96M) for the state asset that the SPFU had tried to ...

Banks in Ukraine predict the growth of business lending in Ukraine.

Banks in Ukraine predict the growth of business lending in Ukraine. Commercial interest rates will no longer decrease, but this will not stop growth in lending, industry representatives shared. In particular, Sense Bank plans for their loan portfolio to grow by 150% t...

Ukrainian startups have a better price-quality ratio than their American counterparts.

Ukrainian startups have a better price-quality ratio than their American counterparts. Civitta’s report notes that the Ukrainian startup ecosystem is showing stable and rapid growth despite difficult conditions. From 2013 to 2023, IT’s contribution to GDP increased by 470%. ...

Ukraine is getting closer to lifting the ban on arms exports to support the defense industry.

Ukraine is getting closer to lifting the ban on arms exports to support the defense industry. Ukraine’s military urgently needs more surveillance, strike, and combat drones, but due to limited government resources drone manufacturers are looking for opportunities to export their products abroa...

Wednesday, October 9

In September, Ukraine received only €10M in foreign aid. How was the budget affected?

In September, Ukraine received only €10M in foreign aid. How was the budget affected? In September, Ukraine received the smallest amount of aid from its international partners since the full-scale war began, a €10M loan from the EBRD, after significant receipts in August ($8.5B). Befor...

A Ukrainian company is investing ₴1B in the launch of a powerful meat processing hub in the Khmelnytskyi region.

A Ukrainian company is investing ₴1B in the launch of a powerful meat processing hub in the Khmelnytskyi region. The Vitagro group of companies, with assets in the agricultural, energy, processing, construction, and chemical industries, said that investors will create enterprises for pork and chicken processing,...

In one of Ukraine’s regions, land prices have risen to record levels during the war.

In one of Ukraine’s regions, land prices have risen to record levels during the war. Land prices have always depended not only on its quality but also on the plot’s geographical location. Before the war, the most expensive land in Ukraine was in the central region. However, with...

Japan opened a credit line of up to $150M to reconstruct Ukraine.

Japan opened a credit line of up to $150M to reconstruct Ukraine. The Black Sea Trade and Development Bank (BSTDB) received a credit line from the Japan Bank for International Cooperation (JBIC) for up to $150M to finance Ukraine’s reconstruction. These funds ...

In the first half of the year, almost $3B in foreign direct investment came into Ukraine.

In the first half of the year, almost $3B in foreign direct investment came into Ukraine. As reported by the parliament’s financial committee, in the first half of 2024 $2.96B in foreign direct investment (FDI) entered Ukraine. 74% of FDI inflow continues to create reinvested income ...

Tuesday, October 8

This year, deposits in Ukraine are growing faster than loans, and bankers note growing saving accounts and confidence in banks on the part of Ukrainians.

This year, deposits in Ukraine are growing faster than loans, and bankers note growing saving accounts and confidence in banks on the part of Ukrainians. Commenting on the latest financial trends in Ukraine during the recent War & Business conference, the chairman of the board of Piraeus Bank in Ukraine, Yannis Kyriakopoulos, noted that currently, ...

In September, Ukraine’s international reserves decreased by 8.1% to $38.9B.

In September, Ukraine’s international reserves decreased by 8.1% to $38.9B. As noted by the National Bank, this dynamic results from the NBU’s currency interventions to cover the structural currency deficit on the market and smooth out exchange rate fluctuations, as wel...

The Ministry of Finance explains the importance of the historic tax increase.

The Ministry of Finance explains the importance of the historic tax increase. All the tax revenue in the state budget is directed to the security and defense sector, but even that is not enough. The Ministry of Finance noted that the balance is covered through other sources, in...

The oldest design institute in Kharkiv was sold to an investor, and the building can now become an office building or shopping center.

The oldest design institute in Kharkiv was sold to an investor, and the building can now become an office building or shopping center. On October 4, Kharkiv private enterprise Aktyvur1001 won the privatization auction, acquiring 100% of the authorized capital shares of Vazhpromelektroproekt. Six parties participated in the bidding, d...

Monday, October 7

Price increases accelerated in August: The NBU explains why.

Price increases accelerated in August: The NBU explains why. According to the National Bank, in August consumer inflation accelerated to 7.5% in annual terms (from 5.4% in July), as was expected. At the same time, core inflation increased more significantly tha...

The cost of restoring Ukraine will be at least 200% higher than the previous $157B estimate.

The cost of restoring Ukraine will be at least 200% higher than the previous $157B estimate. The head of the Parliamentary Committee on Urban Development, Olena Shulyak, noted that according to preliminary estimates, more than 50% of Ukraine’s housing stock was destroyed or damaged, and...

Here are the main economic activity factors in Ukraine for the first half of the year.

Here are the main economic activity factors in Ukraine for the first half of the year. Macroeconomic indicators of the Ukrainian economy in 2024 show growth, but positive dynamics are slowing down. The growth potential represented by the economic recovery from the fall in 2022 has been ...

Bayer has disclosed the details of its €60M investment project in the Zhytomyr region.

Bayer has disclosed the details of its €60M investment project in the Zhytomyr region. The Bayer international concern, which previously announced an investment of €60M, revealed the details of its priority investment areas in Ukraine. The announced investments are aimed at expanding th...

Ukraine’s allies are investing tens of millions of dollars in its restoration: Here are latest contributions.

Ukraine’s allies are investing tens of millions of dollars in its restoration: Here are latest contributions. In 2024, the Norwegian government plans to allocate about $23.6M (NRK 250M) to investments in Ukraine. Capital provided through Norfund will reduce risks for companies investing in Ukraine, particular...

The Astarta and Bukovel projects will be the first to receive state support under Ukraine’s investment program.

The Astarta and Bukovel projects will be the first to receive state support under Ukraine’s investment program. The Cabinet of Ministers approved the signing of two special investment contracts within the framework of the support program for projects with significant investment, known as the investment nanny. T...

Friday, October 4

The Ministry of Economy names four critical price growth factors in Ukraine.

The Ministry of Economy names four critical price growth factors in Ukraine. In August, consumer prices increased by 0.6% for the month. On an annualized basis (August 2024 compared to August 2023), inflation accelerated to 7.5% from 5.4% a month earlier, according to the Moni...

Ukrainian seaports increased their cargo turnover by 80% in 2024.

Ukrainian seaports increased their cargo turnover by 80% in 2024. According to the results of the first three quarters of the year from the Ukrainian sea corridor’s operation, Ukrainian seaports increased cargo transshipment by 80% compared to the same period ...

Despite the war, Poland has recorded a sharp jump in exports to Ukraine in recent years.

Despite the war, Poland has recorded a sharp jump in exports to Ukraine in recent years. In Poland, a significant increase in the export of Polish products to markets in third countries, particularly Ukraine, has been recorded over the last two years, said Deputy Minister of Development o...

Half of Ukrainian refugees may stay abroad forever – that’s 3.3 million people.

Half of Ukrainian refugees may stay abroad forever – that’s 3.3 million people. Data from the Center for Economic Strategy shows that, as of January 2024, 52.5% of Ukrainians who had been forced to leave the country due to the war planned to return to Ukraine. The actual number o...

Thursday, October 3

Piraeus Bank joins leaders from the business community to discuss strategic planning at the War & Business event hosted by UBN.

Piraeus Bank joins leaders from the business community to discuss strategic planning at the War & Business event hosted by UBN. Piraeus Bank in Ukraine has reinforced its commitment to supporting business resilience and economic planning through its role as the general sponsor of the recent War & Business: Planning for an ...

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