Partners news

Friday, October 9

The IMF signaled yesterday that it is watching the government’s efforts to purge the last two Board Members of the Central Bank from the 2015-2016 bank clean up era The IMF signaled yesterday that it is watching the government’s efforts to purge the last two Board Members of the Central Bank from the 2015-2016 bank clean up era. “The framework has served the Nati...

In London yesterday In London yesterday, President Zelenskiy told investors in Ukrainian government bonds: “The National Bank was, is, and will remain independent…We are grateful to the IMF, the EU and the World Ba...

A different view in London came from Timothy Ash, strategist at BlueBay Asset Management A different view in London came from Timothy Ash, strategist at BlueBay Asset Management: “It is hard to see any IMF review or indeed disbursements until this issue is resolved.” After disbursing $2.1...

Ostensibly, the Central Bank shakeup was driven by Zelenskiy’s desire for lower interest rates and a cheaper currency. Ostensibly, the Central Bank shakeup was driven by Zelenskiy’s desire for lower interest rates and a cheaper currency. In the last year of Yakiv Smoliy as Governor, the prime rate dropped from 18% to ...

Over the last three months, the daily toll of new coronavirus infections and new deaths has increased seven fold. Over the last three months, the daily toll of new coronavirus infections and new deaths has increased seven fold. Yesterday, new infections inched up to 5,397 and daily deaths to 93. By comparison, on...

More than 20,000 people are hospitalized with coronavirus, More than 20,000 people are hospitalized with coronavirus, Health Minister Maksym Stepanov warned yesterday in a televised briefing. He said: “The medical system will simply not stand it if we all, wi...

As the virus moves east, hospitals fill up. As the virus moves east, hospitals fill up. Nationwide, the highest hospital occupancy rates were: Donetsk region – 95%; Luhansk region – 90.5%; and Odesa region – 78%. Yesterday morning, the la...

With 5% of the Rada’s 424 members and 75 Rada employees out sick with coronavirus, With 5% of the Rada’s 424 members and 75 Rada employees out sick with coronavirus, plenary sessions have been postponed. Rada committees are debating next year’s budget. Next year, there will not a de...

If coronavirus controls slow Ukraine’s economic recovery, the central bank may lower the prime lending rate from its current level of 6% If coronavirus controls slow Ukraine’s economic recovery, the central bank may lower the prime lending rate from its current level of 6%, Kyrylo Shevchenko Governor of the National Bank of Ukraine, te...

China’s Sinosteel started work this week on a 3-year, $250 million project to build a new metal pelletizing plant at China’s Sinosteel started work this week on a 3-year, $250 million project to build a new metal pelletizing plant at ArcelorMittal Kryvyi Rih, Ukraine’s largest integrated steel company. The plant is ...

Germany’s Kostal is building a €40 million automotive electronics plant that is to employ 900 workers when it opens next April in Dudarkiv, Germany’s Kostal is building a €40 million automotive electronics plant that is to employ 900 workers when it opens next April in Dudarkiv, 15 km north of Kyiv Boryspil Airport. With the new plant, Ko...

Next year, foreign investors will be able to take advantage of ‘Diya.City’ – “a virtual free economic zone,” Next year, foreign investors will be able to take advantage of ‘Diya.City’ – “a virtual free economic zone,” Prime Minister Shmyhal told foreign ambassadors Wednesday. “Favorable tax rates, no bureauc...

Britain’s UK Export Finance agency is resuming loans and insurance for major British exports to Ukraine, supporting up to Britain’s UK Export Finance agency is resuming loans and insurance for major British exports to Ukraine, supporting up to £2.5 billion, Ukraine officials reported yesterday from President Zelenskiy’s ...

Thursday, October 8

Azur Air Ukraine will operate charter flights from Kyiv Boryspil to Cancun, Mexico and to Male, Maldives Azur Air Ukraine will operate charter flights from Kyiv Boryspil to Cancun, Mexico and to Male, Maldives during the Christmas-New Year holidays. The airline will use Boeing 767-300ER jets for the long...

Lviv airport announced yesterday its international winter flight destinations Lviv airport announced yesterday its international winter flight destinations – all subject to shifting corona controls. Wizz Air will fly from Lviv to Bratislava, Tallinn and Vilnius. Ryanair will fl...

Ukraine drops duties on wine imports from the EU next year Ukraine drops duties on wine imports from the EU next year, Yekateryna Zvereva, development director of the Ukrainian Horticultural Association, tells Interfax-Ukraine. Duties are currently 30 to 40 E...

The Finance Ministry raised almost four times as much revenue from Tuesday’s bond auction, The Finance Ministry raised almost four times as much revenue from Tuesday’s bond auction, compared to the week earlier. The price was increased yield rates for hryvnia bonds. The government sold $135...

Concorde Capital’s Evgeniya Akhtyrko writes Concorde Capital’s Evgeniya Akhtyrko writes: “Like a week ago, MinFin hiked the interest rates for UAH-denominated bonds. However, that didn’t result in a significant jump of UAH auction receipts. We ...

Ukraine’s Central Bank Governor defended last week’s official reprimands of two of his Ukraine’s Central Bank Governor defended last week’s official reprimands of two of his deputies amid concern over the bank’s independence and a delay in IMF aid. The two deputy governors violated the ...

Almost four years after nationalization, PrivatBank is Ukraine’s most profitable bank, recording $65 million in profits through August Almost four years after nationalization, PrivatBank is Ukraine’s most profitable bank, recording $65 million in profits through August, according to the data on the website of the National Bank of Ukr...

In Britain today, President Zelenskiy is to a sign a memorandum for a 10 year, $1.6 billion (£1.25 billion) loan to build 10 new fast attack boats for Ukrainian Navy for use in the Black Sea. In Britain today, President Zelenskiy is to a sign a memorandum for a 10 year, $1.6 billion (£1.25 billion) loan to build 10 new fast attack boats for Ukrainian Navy for use in the Black Sea. Armed wi...

The deal was hammered out last month during a visit to Kyiv by The deal was hammered out last month during a visit to Kyiv by British Defense Secretary Robert Ben Lobban Wallace. Yesterday, the Royal Navy destroyer HMS Dragon docked in Odesa for a five-day visit....

Pivdenny, Ukraine’s largest and most efficient sea port, increased its cargo by 21% yoy through September Pivdenny, Ukraine’s largest and most efficient sea port, increased its cargo by 21% yoy through September. By handing 47 million tons in the first nine months of this year, this Odesa region port incr...

Cracking down on overloaded trucks, Transport Safety agents and National Police stopped 500,000 trucks, ticketed 10,500 and levied $3.5 million in fines through September, Cracking down on overloaded trucks, Transport Safety agents and National Police stopped 500,000 trucks, ticketed 10,500 and levied $3.5 million in fines through September, reports Infrastructure Minis...

Used car imports jumped 56% yoy in September, to 35,900, Used car imports jumped 56% yoy in September, to 35,900, reports Ukravtoprom, the vehicle industry association. Used cars accounted for 82% of first time registrations last month. The top brands are: ...

September’s month-long ban on foreigners entering Ukraine decreased the demand for international flights September’s month-long ban on foreigners entering Ukraine decreased the demand for international flights, reports UkSATSE, the national air traffic control agency. Last month, international flights we...

Through September, Kyiv Boryspil’s passenger traffic is down by two thirds Through September, Kyiv Boryspil’s passenger traffic is down by two thirds, to 4 million passengers. At this rate, Ukraine’s busiest airport may finish this year at the level of 2006, when it handled ...

During the second half of this year, Boryspil-based UIA is cutting its fleet by 20%, to 28 jets During the second half of this year, Boryspil-based UIA is cutting its fleet by 20%, to 28 jets, airline president Eugene Dykhne tells Biznes.Tsenzoru. Last spring, UIA was operating 120 regular fligh...

Winter Breaks: Winter Breaks:

Wednesday, October 7

Today Today, President Zelenskiy arrives in London to sign a “strategic agreement” ensuring that Ukraine’s trade benefits with Britain continue after UK completes its withdrawal from the EU, scheduled for D...

Kateryna Rozhkova, the veteran Central Bank number two, snapped back yesterday at a move to push her and another deputy to resign Kateryna Rozhkova, the veteran Central Bank number two, snapped back yesterday at a move to push her and another deputy to resign denouncing it as “a triumph of the past over the future” and “an alarm...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy writes: “This could also be the latest episode in the Zelenskiy administration’s tactic in removing top officials, holdovers from the Poroshenko presidency, who ...

Timothy Ash, of BlueBay Asset Management, writes from London: Timothy Ash, of BlueBay Asset Management, writes from London: “These are two Deputy Governors who have worked their backsides off over the past five years to transform a central bank that totally lack...

In a poll gauging trust levels in government, the Central Bank ranks below Zelenskiy, but above the Rada and the Cabinet of Ministers In a poll gauging trust levels in government, the Central Bank ranks below Zelenskiy, but above the Rada and the Cabinet of Ministers, the Center for Social Monitoring reported yesterday. In a nationw...

Another well-known pro-Western reformer dropped out of the government yesterday, when President Zelensky replaced Aivaras Abromavičius as director-general of UkrOboronProm, Another well-known pro-Western reformer dropped out of the government yesterday, when President Zelensky replaced Aivaras Abromavičius as director-general of UkrOboronProm, the state-owned defense pro...

Last August, Abromavičius clashed with Oleh Uruskiy, minister of the newly created Strategic Industries ministry. Last August, Abromavičius clashed with Oleh Uruskiy, minister of the newly created Strategic Industries ministry. With almost three decades of work in and out of Ukraine’s defense industry, Uruskiy wa...

The EU and Ukraine signed deals for loans and aid totaling €390 million at yesterday’s annual EU-Ukraine summit in Brussels. The EU and Ukraine signed deals for loans and aid totaling €390 million at yesterday’s annual EU-Ukraine summit in Brussels. The signing ceremonies contrasted with growing warnings from aid-weary Euro...

The European Investment Bank, the EU’s bank, is lending €300 million to increase the energy efficiency of 1,000 public buildings in Ukraine The European Investment Bank, the EU’s bank, is lending €300 million to increase the energy efficiency of 1,000 public buildings in Ukraine – schools, hospitals and cultural centers. Administered by t...

The bank is also lending €30 million to start the modernization of Ukrposhta’s logistics The bank is also lending €30 million to start the modernization of Ukrposhta’s logistics. Ihor Smilianskyi, General Director of the national postal operator, said the loan is the first part of €100 mi...

EIB Vice-President Lilyana Pavlova said: EIB Vice-President Lilyana Pavlova said: “An efficient, affordable and modern postal service is crucial for faster, sustainable long-term economic development, as it unlocks new business opportunities...

EU and Ukrainian officials signed three additional aid programs totaling €60 million EU and Ukrainian officials signed three additional aid programs totaling €60 million. The programs are designed to improve life in frontline areas, to strengthen civil society and to help Ukraine shif...

Ukraine and the EU will sign an open skies agreement “early next year,” Ukraine and the EU will sign an open skies agreement “early next year,” President Zelenskiy told reporters after the summit. Expected to boost post-Covid air travel, the deal has been held up for a de...

The final joint statement glossed over recent EU complaints that the Zelenskiy government is backsliding on anti-corruption reforms The final joint statement glossed over recent EU complaints that the Zelenskiy government is backsliding on anti-corruption reforms, undermining institutions designed and funded by the EU in the 2015-...

Without offering Ukraine the concrete possibility of EU membership, the EU loses leverage over Ukraine to promote a more pro-Western path Without offering Ukraine the concrete possibility of EU membership, the EU loses leverage over Ukraine to promote a more pro-Western path, Peter Dickinson argues in a new Atlantic Council blog on EU-U...

To remind Ukrainians that there is an alternative to the East To remind Ukrainians that there is an alternative to the East, Viktor Medvedchuk, chairman of Ukraine’s leading pro-Russia party, Opposition Platform – For Life, flew to Moscow to meet with President ...

Tuesday, October 6

After six months in western Ukraine, Covid-19 has decisively moved east, making eastern Ukraine the current infection hot spot After six months in western Ukraine, Covid-19 has decisively moved east, making eastern Ukraine the current infection hot spot, Health Minister Maksym Stepanov told reporters yesterday morning. In the...

By Friday, Ukraine will be recording 5,000 new infections a day, the Health Minister predicts. The record to date is 4,661 new cases, reported last Saturday. By Friday, Ukraine will be recording 5,000 new infections a day, the Health Minister predicts. The record to date is 4,661 new cases, reported last Saturday. In the latest high profile infection, Ukra...

Ukraine’s hotel operators will need two years to recover from the last six months of corona crisis, Ukraine’s hotel operators will need two years to recover from the last six months of corona crisis, Natalia Chystiakova, consulting director for Colliers International (Ukraine), predicts in an interv...

Airline News: Airline News:

On Sunday, Windrose Airline started flying between Kyiv Boryspil and Zagreb, Croatia. On Sunday, Windrose Airline started flying between Kyiv Boryspil and Zagreb, Croatia. The two-hour flight will be twice a week, on an ATR-72-600 turboprop.