A local Kyiv court ruled to transferred the ownership of Motor Sich’s to the management of the National Asset Recovery and Management Agency (ARMA), the SBU has announced. Earlier this month, Ukraine’s National Security and Defense Council said it intended to return Motor Sich “to the Ukrainian people in a legal, constitutional way.”
Motor Sich was a blue chip company with top-2 free float and has been operating as a private firm since 2000, after the successful privatization in 1994. Concorde Capital’s Alexander Paraschiy wrote: “Thus far, the way Motor Sich has been “returned to people” does not look optimal for Ukraine’s investment case, taking into account that before mid-2017 ...
Ukroboronprom, the state-owned arms conglomerate, has announced that it is ready to take over Motor Sich. Ukroboronprom’s Chief Yuri Gusev said, “I consider the preservation of Ukrainian Motor Sich a matter of national security. Ukroboronprom has already sent a letter to ARMA about its readiness to act as...
In March, Ukraine’s Ministry of Finance tapped UAH 31 billion or USD 1.1 billion in the domestic bond market in local and hard currencies, which assisted in the refinancing of domestic debt obligations.
Investment firm ICU commented: “By the end of this month, the MoF has to repay UAH13.5bn (US$0.5bn) and US$325m. They should be able to refinance these payments, taking into account the level of demand seen earlier this month, and ...
At the 4th German-Ukrainian Business Forum in Berlin, DTEK CEO Maxim Timchenko underlined the importance of energy transition, taking into account social and economic aspects, as well as current challenges facing the renewables sector in Ukraine. The Forum is an important platform for strengthening economic cooperation between Ukraine and Germany and the energy sector is a key focus area. In August 2020, a joint Statement was signed at the Gov...
Ukraine expects an acceleration of integration with the EU within the framework of the Eastern Partnership, said Prime Minister, Denys Shmygal. Ukraine, Georgia and Moldova have designed a joint initiative to start engaging with the Eastern Partnership known as EU + 3 Associated Partners. “We hope that, wit...
Kyiv will be labeled a Covid “red zone” by the State Commission on Technogenic and Ecological Safety and Emergencies starting March 24, 2021 according to officials.
According Chief State Sanitary Doctor Viktor Lyashko, the largest proportion of Covid-19 cases in Ukraine are people aged 50+ years (Interfax-Ukraine). “75-80% of all deaths are registered in this age group. That is why this group is a priority for vaccination, and their inoculation will begin immediately after the doctors.”...
Ukraine could become a center for global food security, Prime Minister Denis Shmyhal said during the recentUkrainian-German economic forum on Friday. “Ukraine has been improving its agricultural exports for the third year in a row, and Germany is con...
Germany considers Ukraine an important trading partner and a country worth investing in. “Ukraine is an important trading partner and it is also a place into which German companies should channel their investments. We appreciate it. Speaking at the opening of the 4th German_Ukrainia...
According to the German Chancellor, Ukraine has economic potential. “Ukraine has highly qualified personnel in the industrial sphere, primarily in mechanical engineering and aircraft construction, as well as in the agricultural sector. IT also plays an increasin...
Merkel noted that “some steps still need to be taken”, in particular regarding fight against corruption, judiciary, and the land market.
The State Bureau of Investigation is conducting a probe into former Central Bank Governor Valeriya Gontareva and First Deputy Governor Kateryna Rozhkova, Bloomgberg reported. Authorities are interested in what they say is the inappropriate use of more than 900 million hryvnia (or $32.5 million) through schemes with local white-shoe law firms that overc...
“This investigation, if true, looks both odd and inconsistent, as it’s clear the Privatbank case is crucial for the country,” Rozhkova said to Bloomberg by phone. “The reason for this probe is to discredit our work.”
Zelenskiy commented: “The Office of President Volodymyr Zelenskiy, with the support of Ukraine’s Western partners, will continue to do everything necessary to return all funds stolen from the Ukrainian population, including money related to PrivatBank,” The stakeholders who previously owned a controlling stake in Privatbank are fighting efforts by the government to recoup bail-out money from them.
The British strain of coronavirus was detected in Kyiv Kharkov, Dnipro and Lviv as part of joint monitoring of the circulation of new strains of SARS-CoV-2, which is carried out by the pharmaceutical company Farmak JSC, along with the the Gromashevsky Institute of Epidemiology and Infectious Diseases with the participation of the Center for Public Health (CPH), Farmak reports. “As a result, the British strain S...
Farmak’s new test system was audited and verified by the State Institution Institute of Epidemiology and Infectious Diseases named after Gromashevsky of the AMS of Ukraine and the Institute of Microbiology and Immunology named after Mechnikov of the AMS of Ukraine The company said that the new test system is already available for pre-order. “Farmak” is a member of the Association “Producers of Medicines of Ukraine” (APLU)
Ukraine has signed preliminary supply agreements with six global manufacturers of COVID-19 vaccines, said Prime Minister, Denis Shmyhal in an interview with Bild Germany. “Ukraine is negotiating with all world vaccine manufacturers. Today, preliminary agreements have been signed with 6 of them ...
62% of medical professionals refuse to get a vaccine, according to the AP. The Indian vaccine available in Ukraine has been widely accused of being a “third world shot” by local media, fueling skepticism towards the jab. CoviShield is supplied to Bhutan,...
Editor’s Note: As I walked with labored breaths yesterday down a corridor of a leading Kyiv Covid ward, I listened to a physiotherapist tell me that every room is occupied. He told me it is the same on the floor abo...
Even though the government received half-a-million doses of India-made Covishield shots earlier this month, it faces a battle against skepticism towards the vaccine “Ukrainian medical facilities have thrown away some unused vaccines after doctors failed to show up for their own appointments to be vaccinated, authorities said,” according to Reuters. Health authori...
Farmak, one of Ukraine’s top pharmaceutical companies, has created a state-of-the-art PCR test to detect new variants of the novel coronavirus, the company says. The joint commercial project with the Hromashevsky Institute of Epidemiology and Infectious Diseases allows scientists to carry out the sequencing procedure via reading the sequence ...
Farmak said that its product also detects the new UK variant of coronavirus. The PCR test system is based on the TaqPath COVID 19 RT PCR Kit (manufactured by Thermo Scientific, the United States), which is authorized by the U.S. Federal Drug Administration (FDA). High quality ...
The accuracy of the new test kit is verified by the findings of the Hromashevsky Institute of Epidemiology and Infectious Diseases of the Academy of Medical Sciences of Ukraine and the Mechnikov Institute of Microbiology and Immunology of the Academy of Medical Sciences of Ukraine in Kharkiv. Reference trials of the PCR test kit are carried out in both private and public laboratories in Ukraine (Kharkiv, Dnipro, Zaporizhia, Vinnytsia), confirming its accuracy. Farmak says that the new test...
Ukraine faces a trade deficit as imports amounted to $4.87 billion and export $4.55 billion in February 2021, the government has reported. According to the State Customs Service, “imports in the first two months of this year showed an increase over the same period last year by 4.5% and amounted to $9.09 billi...
President Zelenskiy aims to launch satellite “Sich 2” into space by the end of the year, Economic Truth reports. The Parliamentary Committee on Economic Development together with the State Space Committee announced the completion of the next stage of negotiations with SpaceX on the launch of the Ukrainian satell...
Ukraine and China are exploring further trade liberalization, said the Deputy Minister of Economy and Trade Representative of Ukraine, Taras Kachka. “During the fourth intergovernmental commission in November 2020, we signed a joint statement on the study of tra...
New Covid-19 infections have soared to record levels as the police force is set to impose a strict lockdown for three weeks starting on Saturday. “We need to gain time and do everything to prevent the collapse of the medical system,” said Kyiv Mayor Vitali Klitschko. Cinemas and shopping malls will be closed completely. People are to be banned ...
Ukraine has recorded a total of 29,253 deaths from the coronavirus pandemic and the total number of infections since the pandemic began a year ago has exceeded 1.5 million, said Health chief Maksym Stepanov on Thursday. The real number is thought to be much higher than offici...
Major international hotel brands are planning to open new hotels in Ukraine within the next two years, said the International Relations Director of the Ukrainian Hotel & Resort Ivan Lun (Interfax-Ukraine). “Today, only 17 hotels operate under international brands in Ukraine. This is a paltry figure: compare...
According to Open4business.ua, the most active hotel chains in Ukraine today are Accor, Radisson, InterContinental, Marriott and Hilton, whose development offices are located in Moscow and Warsaw. In addition, according to experts,...
A criminal case has been initiated against top NBU official Kateryna Rozhkova, who worked on the investigation and 2016 nationalization of PrivatBank, according to a document from the Prosecutor General’s office seen by the Kyiv Post.
Former president Petro Poroshenko, now European Solidarity party leader, said that Ukrainian health care workers were refusing inoculation in the belief that the vaccines were of poor quality. In Parliament, the Former President used foul language to describe the India-made vaccines. Health authorities said that around 1/3 of medical staff in the country have already been infected with Covi...
About 75% of Motor Sich’s outstanding shares are in the hands of Chinese shareholders About 75% of Motor Sich’s outstanding shares are in the hands of Chinese shareholders, Interfax-Ukraine reports citing a government official. Parts of the disputed block of shares are collateral...
Over 9,000 new coronavirus infections were confirmed on March 10 Over 9,000 new coronavirus infections were confirmed on March 10, a 3x increase since early February. Despite the upsurge in infections, Ukrainians are overwhelmingly rejecting vaccination, according ...
In December, Motor Sich stakeholders launched international arbitration against the government of Ukraine for $3.6 billion in compensation In December, Motor Sich stakeholders launched international arbitration against the government of Ukraine for $3.6 billion in compensation, arguing officials expropriated investments and violated the ...
Motor Sich is a flashpoint for the United States and China Motor Sich is a flashpoint for the United States and China, presenting a dilemma for Ukraine which relies on Washington for military aid but is dependent on Beijing for future economic growth.
The National Bank’s independence is vital, The National Bank’s independence is vital, IMF press officer Jerry Rice said in a briefing in Washington. Rice noted “preserving the integrity, independence and effectiveness of Ukrainian anti-c...
Ukrainian companies seeking to IPO can expect a very receptive market, Ukrainian companies seeking to IPO can expect a very receptive market, according to analysts presenting at Strategy Council’s Ukrainian IPO Webinar. ”Ukraine has quite a few candidates that would be a...
Epicenter Agro, the agribusiness arm of Epicentr K, plans to build grain elevators in the Khmelnytsky region, Epicenter Agro, the agribusiness arm of Epicentr K, plans to build grain elevators in the Khmelnytsky region, the company announced Thursday. Project lead Svetlana Nikityuk said “With the advent...
Eipcenter Agro elevator capacity nearly doubled in 2020 Eipcenter Agro elevator capacity nearly doubled in 2020, to 1.5 million tons of grain storage. The company plans to increase its grain storage capacity to 2.2 million tons next year.
Interpipe has signed a long-term contract to supply self-assembled cargo wheelsets to INVEHO UFO, one of the largest car building and car repair companies in France Interpipe has signed a long-term contract to supply self-assembled cargo wheelsets to INVEHO UFO, one of the largest car building and car repair companies in France, the company reports. “The contract...
The government is working on implementing 40 joint projects with international financial organizations The government is working on implementing 40 joint projects with international financial organizations, worth a total of EUR 5.66 billion and USD 3.09 billion, reports the Ministry of Finance. These o...
Ukravtodor, the state roadbuilding agency, has taken an important step towards toll roads Ukravtodor, the state roadbuilding agency, has taken an important step towards toll roads, said Prime Minister Denis Shmygal during the signing of the Memorandum on the preparation of a proposal for p...
The Prime Minister stressed that the use of public-private partnership mechanisms will attract investment in the development of a quality road network in Ukraine, The Prime Minister stressed that the use of public-private partnership mechanisms will attract investment in the development of a quality road network in Ukraine, and that investments from private inv...
Overall GDP in January 2021 declined up to 2.8%, compared to 2020 Overall GDP in January 2021 declined up to 2.8%, compared to 2020, mostly due to lockdown measures, the Ministry of Economic Development, Trade and Agriculture estimates.
Farmers plagued by drought and other adverse weather conditions will receive interest compensation Farmers plagued by drought and other adverse weather conditions will receive interest compensation for outstanding short and medium-term loans, said the Ministry of Economy.
Airline passenger traffic in January-February was down 68% y-o-y in 2021 Airline passenger traffic in January-February was down 68% y-o-y in 2021, reports the State Aviation Service. The decrease is largely attributed to uncertainty caused by pandemic mitigation policies. ...
Ukrainian low-cost carrier SkyUp launches direct flights to Istanbul from Zaporizhia and Kharkiv Ukrainian low-cost carrier SkyUp launches direct flights to Istanbul from Zaporizhia and Kharkiv. “We will fly on the route Zaporizhia – Istanbul – Zaporizhia three times a week: on Tuesda...
