Partners news

Tuesday, March 19

Judging by income tax returns, Ukrainian declared incomes grew 7% last year, in post-inflation terms Judging by income tax returns, Ukrainian declared incomes grew 7% last year, in post-inflation terms. According to the State Fiscal Service, Ukrainians paid the hryvnia $3.6 billion in income tax, 17%...

US-based Jabil has doubled its Uzhgorod manufacturing space and plans to nearly double its payroll, to 5,000, the company reports. US-based Jabil has doubled its Uzhgorod manufacturing space and plans to nearly double its payroll, to 5,000, the company reports. In a $16 million investment, Jabil, traded on the New York Stock Exch...

Competing for workers with Eastern Europe, ArcelorMittal Kryvyi Rih, Competing for workers with Eastern Europe, ArcelorMittal Kryvyi Rih, Ukraine’s largest integrated steel company, plans to increase employee salaries by 15-20% on May 1, according to Vmesh-Profin...

“Chicken Kiev baron on course for big EU trade win,” Politico headlines from Brussels. “Chicken Kiev baron on course for big EU trade win,” Politico headlines from Brussels. Under a plan emerging from the EU headquarters, Ukraine’s quota of chicken breasts would more than triple, increa...

Arguing that reform can be more difficult than revolution, Alexader Motyl, the Rutgers political scientist, takes a bleak view of Volodymyr Zelenskiy’s chances of becoming a successful reformer. Arguing that reform can be more difficult than revolution, Alexader Motyl, the Rutgers political scientist, takes a bleak view of Volodymyr Zelenskiy’s chances of becoming a successful reformer. “Refo...

Timothy Ash, another seasoned Ukraine observer, writes from London: Timothy Ash, another seasoned Ukraine observer, writes from London: “The key for Zelenskiy is whether reformers such as Danylyuk and Abromavicius join his ticket.” Referring to the former ministers of...

Dnipro officials are fighting to protect their city airport Dnipro officials are fighting to protect their city airport, arguing that rebuilding their airport would take two years and cost €215 million, while the Infrastructure Ministry’s proposal to build a r...

Monday, March 18

Freight service is suspended on almost 10% of Ukrzaliznytsia’s 20,000 km rail network due to lack of maintenance Freight service is suspended on almost 10% of Ukrzaliznytsia’s 20,000 km rail network due to lack of maintenance, calculates the Center for Transportation Technologies. Fearing derailments, state rail...

Twenty percent of trucks selected to drive through new weigh stations in Dnipro last week were overloaded Twenty percent of trucks selected to drive through new weigh stations in Dnipro last week were overloaded, reports Interfax-Ukraine. The truckers were fined. Operated by Ukrtransbezopasnost, the State...

Reopening regional airports like beer bottles Reopening regional airports like beer bottles, Infrastructure Ministry officials welcomed the restoration of air service between Kyiv and Uzhgorod on Friday and approved the first scheduled flight in ...

To Uzhgorod, Motor Sich now flies a 50-seater Antonov 24 turbojet on a twice-weekly route: Kyiv Sikorsky-Lviv-Uzhgorod To Uzhgorod, Motor Sich now flies a 50-seater Antonov 24 turbojet on a twice-weekly route: Kyiv Sikorsky-Lviv-Uzhgorod. The flight from Kyiv takes three hours, but the alternatives are a 10-hour drive...

Welcoming the flight, President Poroshenko said: “We should bring tourists to Zakarpattia region by airplanes and trains in order to increase the potential of the region.” Welcoming the flight, President Poroshenko said: “We should bring tourists to Zakarpattia region by airplanes and trains in order to increase the potential of the region.” In re-election c...

Kyivvodocanal is posting an international tender for a five year, $1 billion, Japanese-funded project to upgrade Kyiv’s sole sewage plant to treat the waste of 5 million people Kyivvodocanal is posting an international tender for a five year, $1 billion, Japanese-funded project to upgrade Kyiv’s sole sewage plant to treat the waste of 5 million people, about 12% of Ukraine’s...

Under tender terms released Friday, Japan International Cooperation Agency, or JICA, represents Japan for a 40-year loan, granted at 0.1% per annum with a grace period of 10 years. Under tender terms released Friday, Japan International Cooperation Agency, or JICA, represents Japan for a 40-year loan, granted at 0.1% per annum with a grace period of 10 years. Of the 108 billion ...

“JP Morgan stuns market with Ukraine tap,” Reuters headlines from London about the US bank’s move last week to buy Ukraine’s entire placement of $350 million in Eurobonds. “JP Morgan stuns market with Ukraine tap,” Reuters headlines from London about the US bank’s move last week to buy Ukraine’s entire placement of $350 million in Eurobonds. Sudip Roy an editor at Reute...

Thousands of Ukrainian SMEs are to benefit from a €60 million EU-oriented credit line Thousands of Ukrainian SMEs are to benefit from a €60 million EU-oriented credit line launched Friday by the EBRD and EU4Business. Available for privately owned businesses with less than 250 employees...

Two weeks before the presidential election, Prime Minister Groysman told the Rada Friday that he is asking Naftogaz talk with the IMF to prevent future hikes in household gas tariffs. Two weeks before the presidential election, Prime Minister Groysman told the Rada Friday that he is asking Naftogaz talk with the IMF to prevent future hikes in household gas tariffs. Last November’s ...

A blockchain startup CEO is missing after being kidnapped in Kyiv one week ago. A blockchain startup CEO is missing after being kidnapped in Kyiv one week ago. CCN, a crypto news site, reports that Gregory Kucherkov, CEO of Cornerstone, was shoved into a van with tinted windows o...

Opened in 1794, Odesa, Ukraine’s world-renowned Black Sea port, is being overtaken by its once junior satellites, Yuzhne and Chornomorsk, Opened in 1794, Odesa, Ukraine’s world-renowned Black Sea port, is being overtaken by its once junior satellites, Yuzhne and Chornomorsk, according to new cargo statistics from the Sea Ports Authority...

Fewer ships handle more cargo at Ukraine’s seaports Fewer ships handle more cargo at Ukraine’s seaports. During the first two months of this year, cargo was up 12.5% y-o-y to 23 million tons, but port calls were down 7%, to 1,726 vessels. As last fall’...

Container traffic grew by 17% in January-February, compared to the same period last year. Container traffic grew by 17% in January-February, compared to the same period last year. With dedicated container trains fanning out from Odesa, Odesa port handles 62% of the 145,000 units. Yuzhne sa...

Friday, March 15

JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday, JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday, paying 98.88 cents on the dollar, reports The Wall Street Journal. The bank has been reselling them to investors at...

From the government side, the Finance Ministry announced Wednesday the re-placement of Eurobonds with a maturity period up to Nov. 2028 for $350 million, with a coupon rate of 9.75% per annum. From the government side, the Finance Ministry announced Wednesday the re-placement of Eurobonds with a maturity period up to Nov. 2028 for $350 million, with a coupon rate of 9.75% per annum. The pla...

In its three years of existence, the In its three years of existence, the ProZorro electronic procurement system has handled 3 million tenders, saving the nation $2.8 billion, reports Maxim Nefyodov first deputy minister of economy. Open...

In one step toward rebuilding Soviet-era hydro capacity, a $50 million contract was signed in Kharkiv Thursday to rebuild two of the 60-year-old power units Kremenchuk Hydroelectric Power Plant. In one step toward rebuilding Soviet-era hydro capacity, a $50 million contract was signed in Kharkiv Thursday to rebuild two of the 60-year-old power units Kremenchuk Hydroelectric Power Plant. With ...

China’s Great Wall Drilling Company is looking for contracts to design, drill and overhaul oil and gas wells China’s Great Wall Drilling Company is looking for contracts to design, drill and overhaul oil and gas wells in Ukraine, reports the Ministry of Energy and Coal Industry. On Wednesday, several officia...

Estonia’s Bolt, formerly Taxify, expands its smartphone taxi-hailing service to Lviv this weekend. Estonia’s Bolt, formerly Taxify, expands its smartphone taxi-hailing service to Lviv this weekend. After launching in Kyiv last June, the service expanded in December to Kharkiv. Now in 30 countries, ...

Kyiv’s single car, self-propelled electric train to the plane has proved so popular that the state railroad plans to replace it with a conventional diesel locomotive pulling passenger cars Kyiv’s single car, self-propelled electric train to the plane has proved so popular that the state railroad plans to replace it with a conventional diesel locomotive pulling passenger cars, Yevhen Kra...

Inflation will end this year at 6.3%, one third below last year’s rate of 9.8% Inflation will end this year at 6.3%, one third below last year’s rate of 9.8%, predicted Yakiv Smoliy, governor of the National Bank of Ukraine. Next year, inflation will be 5%, he told reporters Thu...

Despite cooling inflation, Ukraine’s prime interest rate stays at 18% Despite cooling inflation, Ukraine’s prime interest rate stays at 18%, a level first set six months ago, the National Bank of Ukraine reported Thursday. To combat inflation, the central bank started r...

Timothy Ash writes: Timothy Ash writes: “Solid move by the NBU to hold its policy rate at 18%, despite inflation heading lower. Prudent move gave uncertainty around who wins the presidential elections – really a th...

One day after a weeklong IMF review mission flew back to Washington, Smoliy predicted Thursday that Ukraine will receive a second low interest loan tranche in May One day after a weeklong IMF review mission flew back to Washington, Smoliy predicted Thursday that Ukraine will receive a second low interest loan tranche in May. “[We] continue to cooperate with the...

In a key step toward allowing non-resident foreign investors to buy Ukrainian government bonds, the central bank signed an agreement Wednesday In a key step toward allowing non-resident foreign investors to buy Ukrainian government bonds, the central bank signed an agreement Wednesday with Clearstream Securities Depository. Soon, the Nationa...

The National Bank of Ukraine was awarded the ‘Central Banking Award for Transparency’ The National Bank of Ukraine was awarded the ‘Central Banking Award for Transparency’ Wednesday night at a ceremony in London. Selected by Central Banking magazine, previous central bank transparency ...

Ukrzaliznytsia redeemed the first part of its Eurobonds for $150 million Ukrzaliznytsia redeemed the first part of its Eurobonds for $150 million and paid a coupon yield on them. Money to repay the bonds were raised domestically, notably from Oschadbank and Ukrinfraproekt....

Thursday, March 14

Holland’s AEG Power Solutions has signed a licensing agreement with Odesa’s S-Engineering LLC to manufacture solar inverters using AEG technology Holland’s AEG Power Solutions has signed a licensing agreement with Odesa’s S-Engineering LLC to manufacture solar inverters using AEG technology. A key component of solar plants, inverters convert DC...

Singapore’s Delta Wilmar CIS LLC plans a major expansion of its facilities at Yuzhne: a new shipping berth, a soybean processing plant, and storage and handling facilities for shipping bulk agricultural cargo. Singapore’s Delta Wilmar CIS LLC plans a major expansion of its facilities at Yuzhne: a new shipping berth, a soybean processing plant, and storage and handling facilities for shipping bulk agricultur...

A unit of Wilmar International, one of Asia’s largest agribusiness groups, Delta Wilmar is expanding its agro products handling capacity at Yuzhne, Ukraine’s biggest port, to 1.2 million tons a year A unit of Wilmar International, one of Asia’s largest agribusiness groups, Delta Wilmar is expanding its agro products handling capacity at Yuzhne, Ukraine’s biggest port, to 1.2 million tons a year. ...

Nibulon, Nibulon, the grain producing and exporting giant, expects to open in June its newest river port, in Ternivka, Zaporizhia region, on the Ploska Osokorivka river, a Dnipro tributary. Nibulon wants to bu...

Ukrainian authorities want to restore the Dnipro to its Soviet-era role as Ukraine’s Mississippi. Ukrainian authorities want to restore the Dnipro to its Soviet-era role as Ukraine’s Mississippi. Meeting with Kyiv region farmers on Tuesday, Infrastructure Minister Volodymyr Omelyan noted that rive...

The low design of Russia’s Kerch Strait bridge cut by one third the list of ships that historically served Mariupol The low design of Russia’s Kerch Strait bridge cut by one third the list of ships that historically served Mariupol, asserts Vadym Chernysh, the minister responsible for displaced people from the occu...

A pilot program of private freight trains will start in Ukraine this year A pilot program of private freight trains will start in Ukraine this year, Minister Omelyan promises. Private fleets of freight cars are increasing, but private locomotives have been banned. After the...

State railroad freight cars will increasingly be leased through ProZorro, State railroad freight cars will increasingly be leased through ProZorro, the electronic auction platform. Omelyan told the farmers: “The price may fluctuate depending on supply and demand. Electronic...

To test private companies running train stations, Ukrzaliznytsia plans to transfer Khmelnitsky and Mykolaiv stations to private management this year To test private companies running train stations, Ukrzaliznytsia plans to transfer Khmelnitsky and Mykolaiv stations to private management this year. Handling 1.6 million passengers last year, Khmelni...

Kyiv’s Podolsko-Voskresensky bridge, a city fixture since work began in 2003, is to receive $8 million to speed up construction of the seven-kilometer road and rail bridge over the Dnipro. Kyiv’s Podolsko-Voskresensky bridge, a city fixture since work began in 2003, is to receive $8 million to speed up construction of the seven-kilometer road and rail bridge over the Dnipro. Designed to...

One beneficiary of the big bridge will be Sergei Tigipko’s TAS group, which plans to build on Rybalsky Peninsula ‘Lipki Island City Resort’ – a complex of 36 buildings with 6,200 apartments housing 15,400 people. One beneficiary of the big bridge will be Sergei Tigipko’s TAS group, which plans to build on Rybalsky Peninsula ‘Lipki Island City Resort’ – a complex of 36 buildings with 6,200 apartments housing 15...

Also at MIPIM, Ukrainian Trade Guild, the real estate consulting company, is promoting $400 million worth of real estate projects in Dnipro, Kyiv, Lviv, and Vinnytsia Also at MIPIM, Ukrainian Trade Guild, the real estate consulting company, is promoting $400 million worth of real estate projects in Dnipro, Kyiv, Lviv, and Vinnytsia. The stand features Alfa Mall, Al...

Spain’s Acciona Energia Global will acquire majority control of a 26 MW solar project in Odesa Spain’s Acciona Energia Global will acquire majority control of a 26 MW solar project in Odesa started by Vasily Khmelnitsky’s UDP Renewables. Last summer, Acciona announced it was joining UDP to inve...

Wednesday, March 13

In response, President Putin’s press secretary lashed out Tuesday to reporters in Moscow. In response, President Putin’s press secretary lashed out Tuesday to reporters in Moscow. “The hostile and uncompetitive attitude of the United States to this purely economic project is well known ...

US exports of liquefied natural gas to the EU almost tripled during the last seven months, compared to the same period in 2017, US exports of liquefied natural gas to the EU almost tripled during the last seven months, compared to the same period in 2017, reports the European Commission. US exports from late July to early Marc...

Partners news

Competing for workers with Eastern Europe, ArcelorMittal Kryvyi Rih, Competing for workers with Eastern Europe, ArcelorMittal Kryvyi Rih, Ukraine’s largest integrated steel company, plans to increase employee salaries by 15-20% on May 1, according to Vmesh-Profin...

Timothy Ash, another seasoned Ukraine observer, writes from London: Timothy Ash, another seasoned Ukraine observer, writes from London: “The key for Zelenskiy is whether reformers such as Danylyuk and Abromavicius join his ticket.” Referring to the former ministers of...

Dnipro officials are fighting to protect their city airport Dnipro officials are fighting to protect their city airport, arguing that rebuilding their airport would take two years and cost €215 million, while the Infrastructure Ministry’s proposal to build a r...

Reopening regional airports like beer bottles Reopening regional airports like beer bottles, Infrastructure Ministry officials welcomed the restoration of air service between Kyiv and Uzhgorod on Friday and approved the first scheduled flight in ...

Thousands of Ukrainian SMEs are to benefit from a €60 million EU-oriented credit line Thousands of Ukrainian SMEs are to benefit from a €60 million EU-oriented credit line launched Friday by the EBRD and EU4Business. Available for privately owned businesses with less than 250 employees...

A blockchain startup CEO is missing after being kidnapped in Kyiv one week ago. A blockchain startup CEO is missing after being kidnapped in Kyiv one week ago. CCN, a crypto news site, reports that Gregory Kucherkov, CEO of Cornerstone, was shoved into a van with tinted windows o...

Fewer ships handle more cargo at Ukraine’s seaports Fewer ships handle more cargo at Ukraine’s seaports. During the first two months of this year, cargo was up 12.5% y-o-y to 23 million tons, but port calls were down 7%, to 1,726 vessels. As last fall’...

Container traffic grew by 17% in January-February, compared to the same period last year. Container traffic grew by 17% in January-February, compared to the same period last year. With dedicated container trains fanning out from Odesa, Odesa port handles 62% of the 145,000 units. Yuzhne sa...

JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday, JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday, paying 98.88 cents on the dollar, reports The Wall Street Journal. The bank has been reselling them to investors at...

In its three years of existence, the In its three years of existence, the ProZorro electronic procurement system has handled 3 million tenders, saving the nation $2.8 billion, reports Maxim Nefyodov first deputy minister of economy. Open...

Inflation will end this year at 6.3%, one third below last year’s rate of 9.8% Inflation will end this year at 6.3%, one third below last year’s rate of 9.8%, predicted Yakiv Smoliy, governor of the National Bank of Ukraine. Next year, inflation will be 5%, he told reporters Thu...

Despite cooling inflation, Ukraine’s prime interest rate stays at 18% Despite cooling inflation, Ukraine’s prime interest rate stays at 18%, a level first set six months ago, the National Bank of Ukraine reported Thursday. To combat inflation, the central bank started r...

Timothy Ash writes: Timothy Ash writes: “Solid move by the NBU to hold its policy rate at 18%, despite inflation heading lower. Prudent move gave uncertainty around who wins the presidential elections – really a th...

The National Bank of Ukraine was awarded the ‘Central Banking Award for Transparency’ The National Bank of Ukraine was awarded the ‘Central Banking Award for Transparency’ Wednesday night at a ceremony in London. Selected by Central Banking magazine, previous central bank transparency ...

Ukrzaliznytsia redeemed the first part of its Eurobonds for $150 million Ukrzaliznytsia redeemed the first part of its Eurobonds for $150 million and paid a coupon yield on them. Money to repay the bonds were raised domestically, notably from Oschadbank and Ukrinfraproekt....

Nibulon, Nibulon, the grain producing and exporting giant, expects to open in June its newest river port, in Ternivka, Zaporizhia region, on the Ploska Osokorivka river, a Dnipro tributary. Nibulon wants to bu...

A pilot program of private freight trains will start in Ukraine this year A pilot program of private freight trains will start in Ukraine this year, Minister Omelyan promises. Private fleets of freight cars are increasing, but private locomotives have been banned. After the...

State railroad freight cars will increasingly be leased through ProZorro, State railroad freight cars will increasingly be leased through ProZorro, the electronic auction platform. Omelyan told the farmers: “The price may fluctuate depending on supply and demand. Electronic...

In response, President Putin’s press secretary lashed out Tuesday to reporters in Moscow. In response, President Putin’s press secretary lashed out Tuesday to reporters in Moscow. “The hostile and uncompetitive attitude of the United States to this purely economic project is well known ...

In response, President Putin’s press secretary lashed out Tuesday to reporters in Moscow. In response, President Putin’s press secretary lashed out Tuesday to reporters in Moscow. “The hostile and uncompetitive attitude of the United States to this purely economic project is well known ...