brookukraine

Friday, August 7

Norway’s NBT plans to invest €1.6 billion in Ukraine over the next year Norway’s NBT plans to invest €1.6 billion in Ukraine over the next year, Joar Viken, the company CEO, told President Zelenskiy yesterday. NBT is investing €1.2 billion to build Zophia, an 800 MW wind ...

China Gezhouba Group Corporation is interested in building hydro projects in Ukraine China Gezhouba Group Corporation is interested in building hydro projects in Ukraine, Ukraine’s Ambassador to China, Serhiy Kamyshev said after meeting the company’s chairman Lyu Zexiang. The contract...

In the wake of the massive ammonium nitrate explosion in the port of Beirut, Ukraine, a major importer and consumer of fertilizers, is to tighten up its handling of this potentially hazardous product In the wake of the massive ammonium nitrate explosion in the port of Beirut, Ukraine, a major importer and consumer of fertilizers, is to tighten up its handling of this potentially hazardous product....

Andrey Stavnitser, CEO of TIS, a major Odesa region port terminal, said his father, Aleksey, stopped handling ammonium nitrate in 2008 for safety reasons. Andrey Stavnitser, CEO of TIS, a major Odesa region port terminal, said his father, Aleksey, stopped handling ammonium nitrate in 2008 for safety reasons. Andrey Stavnitser wrote on Facebook that TIS ...

Ukraine’s largest nitrogen fertilizer producer, Dmytro Firtash’s Ostchem Holding, released a statement yesterday saying the company follows “international standards” for safety and production. Ukraine’s largest nitrogen fertilizer producer, Dmytro Firtash’s Ostchem Holding, released a statement yesterday saying the company follows “international standards” for safety and production. “Import...

Renaisco BV, a Dutch subsidiary of Glencore International, has won Ukrainian government permission to acquire a majority stake in Avery, one of Ukraine’s leading vegetable oil exporting complexes Renaisco BV, a Dutch subsidiary of Glencore International, has won Ukrainian government permission to acquire a majority stake in Avery, one of Ukraine’s leading vegetable oil exporting complexes. Own...

South Korea’s export credit agency, the Export-Import Bank of Korea, is providing $36 million in financing South Korea’s export credit agency, the Export-Import Bank of Korea, is providing $36 million in financing to a joint venture between Posco International, Korea’s largest trading company, and OR...

Over the last decade, 14 million tons of simultaneous storage capacities have been commissioned in Ukraine, raising the total to 51 million tons, about half of this year’s forecast crop. Over the last decade, 14 million tons of simultaneous storage capacities have been commissioned in Ukraine, raising the total to 51 million tons, about half of this year’s forecast crop. About one thi...

Most of the new construction has been in central Ukraine, in five oblasts responsible for 35% of the nation’s grain production: Poltava, Vinnitsa, Chernihiv, Cherkasy and Kirovohrad. Most of the new construction has been in central Ukraine, in five oblasts responsible for 35% of the nation’s grain production: Poltava, Vinnitsa, Chernihiv, Cherkasy and Kirovohrad. “With clima...

KMZ Industries, grain storage and processing equipment manufacturer, expects sales to increase by 60% yoy KMZ Industries, grain storage and processing equipment manufacturer, expects sales to increase by 60% yoy, the company tells Interfax-Ukraine. With 42 projects underway, Valery Kalashnik, company gene...

Sales of new commercial vehicles, a key indicator of business activity, were up 11% in July yoy. Sales of new commercial vehicles, a key indicator of business activity, were up 11% in July yoy. The July figure of 1,163 was 53% higher than June, reports Ukravtoprom.

Planning to build 2,900 km of cement roads by 2025 Planning to build 2,900 km of cement roads by 2025, Oleksandr Kubrakov, head of Ukravtodor argues: “Concrete roads should be cheaper in Ukraine because we import 60% of bitumen, but cement is domestic...

The US Justice Department moved yesterday to seize commercial properties in Kentucky and Texas from Igor Kolomoisky and his business partner, Gennadiy Boholyubov The US Justice Department moved yesterday to seize commercial properties in Kentucky and Texas from Igor Kolomoisky and his business partner, Gennadiy Boholyubov, reports The Washington Post. In a civ...

The civil asset forfeiture cases seek to seize a 19.5-acre office park in Dallas and the PNC Plaza building in Louisville, Kentucky. The civil asset forfeiture cases seek to seize a 19.5-acre office park in Dallas and the PNC Plaza building in Louisville, Kentucky. The Justice Department alleges that Kolomoisky and Boholyubov used ...

Separately, U.S. attorney’s office in Cleveland is investigating Kolomoisky for possible money laundering. Separately, U.S. attorney’s office in Cleveland is investigating Kolomoisky for possible money laundering. As a part of that case, the FBI raided on Tuesday two Kolomoisky offices in the US, one in Cl...

Timothy Ash ties the US Government moves this week to the removal last month of the 2014-2019 bank clean up team from National Bank of Ukraine: Timothy Ash ties the US Government moves this week to the removal last month of the 2014-2019 bank clean up team from National Bank of Ukraine: “The USG looks like it has seen enough in terms of risks...

Thursday, August 6

Thanks to a new business — oil transshipments from Odesa to Belarus — Ukraine’s oil imports are up 142% for the first half of this year, Thanks to a new business — oil transshipments from Odesa to Belarus — Ukraine’s oil imports are up 142% for the first half of this year, compared to January-June 2019, reports Ukrtransnaft...

The massive blast that severely damaged Beirut’s port Tuesday destroyed 85% of the city’s grain silos The massive blast that severely damaged Beirut’s port Tuesday destroyed 85% of the city’s grain silos, leaving the country with a one-month supply of wheat. A warehouse filled with ammonium nitrate fe...

US government agencies may have slow walked approval of steel company sale in 2017, helping to sink 20% of the $1 billion that Ihor Kolomoisky and his partner Hennadiy Boholyubov had invested in the US, US government agencies may have slow walked approval of steel company sale in 2017, helping to sink 20% of the $1 billion that Ihor Kolomoisky and his partner Hennadiy Boholyubov had invested in the U...

President Trump’s nominee for ambassador to Ukraine, Lt. General ret. Keith W. Dayton, testified yesterday before the US Senate Foreign Relations Committee President Trump’s nominee for ambassador to Ukraine, Lt. General ret. Keith W. Dayton, testified yesterday before the US Senate Foreign Relations Committee. Here are highlights:

Recalling his first visit to Soviet Ukraine, in 1980, as a Russian-speaking US Army field artillery officer: Recalling his first visit to Soviet Ukraine, in 1980, as a Russian-speaking US Army field artillery officer: “The fundamental challenges remain the same: Ukraine seeks to rid itself of Moscow’s interf...

On challenges of building a modern, market economy: On challenges of building a modern, market economy: “Vested interests continue to resist reform— particularly, reform of the judicial and financial sectors. A strong, independent central bank has been...

On China’s interest in Ukraine’s defense industries On China’s interest in Ukraine’s defense industries: “Years of corruption and mismanagement have pushed Ukrainian defense firms to the brink of collapse. This neglect has made Ukraine’s hard-earned in...

China’s “Skyrizon negotiated cooperation in the field of aircraft engines with DCH Group (Ukraine) and came to an agreement,” China’s “Skyrizon negotiated cooperation in the field of aircraft engines with DCH Group (Ukraine) and came to an agreement,” Xinwei Group’s Skyrizon reported yesterday on the Shanghai Stock Exchange ...

Shabo, the Odesa region winery, opened its third store in China last week Shabo, the Odesa region winery, opened its third store in China last week. With Shabo stores now in Fuzhou, Guangzhou and X’ian, the company plans to open a store next year in Shanghai, says Stanyslav...

Flights in Ukrainian airspace nearly tripled in July Flights in Ukrainian airspace nearly tripled in July, hitting 12,195, compared to 4,584 in June. But the July number is only one third the level of July 2019. Ukraine’s air traffic control agency deri...

For a nation of trucks loaded with grain, sturdy concrete roads represent the path to the future For a nation of trucks loaded with grain, sturdy concrete roads represent the path to the future, promised participants yesterday at a Concrete Roads conference in Kyiv. Noting that concrete roads hol...

Used car imports continue to flood into Ukraine. Used car imports continue to flood into Ukraine. In July, 34,300 used imports were registered for the first time, 17% more than in June, and 43% more than in July 2019. So far this year, 173,600 used ...

European gas traders have more than quadrupled the volume of natural gas they store in western Ukraine’s underground reservoirs, European gas traders have more than quadrupled the volume of natural gas they store in western Ukraine’s underground reservoirs, reports Ukrtransgaz. Offshore companies have parked 5.3 billion cubic m...

Ukrtransgaz has 11 underground gas storage facilities with a total capacity of 31 bcm – equal to the total storage capacity of Italy, France, Hungary and Austria combined. Ukrtransgaz has 11 underground gas storage facilities with a total capacity of 31 bcm – equal to the total storage capacity of Italy, France, Hungary and Austria combined. “The Ukrainian gas market ha...

Wednesday, August 5

Ukraine harvested 27 million tons of grain from 48% of its sown area as of July 30 Ukraine harvested 27 million tons of grain from 48% of its sown area as of July 30, reports Successful Farming, an Iowa-based news site. This volume included 18.3 million tons of wheat, harvested from...

Kernel has doubled its grain exports in two years, becoming Ukraine’s largest grain exporter. Kernel has doubled its grain exports in two years, becoming Ukraine’s largest grain exporter. In the recently completed marketing year, Kernel exported 8 million tons, or 13.3% of Ukraine’s total grai...

With domestic consumption flat, exports are to increase by 5% this year, to 61 million tons With domestic consumption flat, exports are to increase by 5% this year, to 61 million tons. Increasingly seen as a world food power, Ukraine was second only to the US last year in grain exports. Ukra...

In “Feed and Rule,” an essay on In “Feed and Rule,” an essay on ZN site, Foreign Minister Kuleba says Ukraine’s new status of a food power allows it to gain “authority and influence on the world stage.” Noting that the coronavirus p...

In China, a move by a local unit of Sinograin to ban smartphones and cameras from its granaries has provoked national worries about levels of reserves In China, a move by a local unit of Sinograin to ban smartphones and cameras from its granaries has provoked national worries about levels of reserves. A cellphone video that showed moldy and dirty gr...

DCH, one of the largest investment groups in Eastern Ukraine, has reached a deal to develop airplane engine maker Motor Sich with Chinese investors DCH, one of the largest investment groups in Eastern Ukraine, has reached a deal to develop airplane engine maker Motor Sich with Chinese investors Skyrizon Aircraft Holdings Limited. Last year, the U...

The FBI raided offices yesterday of U.S. companies belonging to Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov in Cleveland and Miami The FBI raided offices yesterday of U.S. companies belonging to Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov in Cleveland and Miami, reports RFE/RL and Cleveland.com. “I can confirm tha...

No surprises at yesterday’s weekly auction of hryvnia No surprises at yesterday’s weekly auction of hryvnia domestic government bonds. The auction raised the equivalent of $370 million, slightly less than last week, the Finance Ministry reported on Faceb...

SkyUp, Ukraine’s discount airline, lost more than $30 million in the first half of this year SkyUp, Ukraine’s discount airline, lost more than $30 million in the first half of this year, the airline tells Interfax-Ukraine. During the first half of this year, SkyUp’s passenger count fell 15% y...

With the EU largely closed to Ukrainians, UIA has cancelled its flights to 10 cities for the rest of August With the EU largely closed to Ukrainians, UIA has cancelled its flights to 10 cities for the rest of August: Athens, Barcelona, Baku, Berlin, Chisinau, Frankfurt, Larnaca, Prague, Rome and Vienna. Ukr...

Turkish Airlines resumed its pre-lockdown network of flights from Istanbul to Ukraine Turkish Airlines resumed its pre-lockdown network of flights from Istanbul to Ukraine, with direct flights from the new Istanbul Airport to Kyiv, Kharkiv, Kherson, Lviv, Odesa and Zaporizhia. For Amer...

In the latest effort to rebuild the East, the European Investment Bank is planning to lend €100 million to Ukravtodor In the latest effort to rebuild the East, the European Investment Bank is planning to lend €100 million to Ukravtodor to finance almost two thirds of a road building project in government-controlled L...

August August drivers will encounter almost 400 speed cameras across Ukraine. In addition to 116 speed guns held by police, more than 250 stationary cameras are being activated, reports TSN.ua. During the we...

Flaunting the $8 speeding fine, one driver broke the speed limit 60 times in 50 days, Flaunting the $8 speeding fine, one driver broke the speed limit 60 times in 50 days, says Volodomyr Karavaev, chairman of the National Road Safety Forum. As a result, Rada deputies are discussing a b...

Ukraine is on track to reach this year the symbolic target of a Ukraine is on track to reach this year the symbolic target of a 100 million ton harvest of grain and oilseeds, predicts the Ukrainian Grain Association. This would be 2% higher than last year’s overal...

Tuesday, August 4

With barriers erected to block coronavirus, remittances worldwide will drop 20% this year, With barriers erected to block coronavirus, remittances worldwide will drop 20% this year, estimates Dilip Ratha, the World Bank’s lead economist on these money flows. The Journal writes: “That drop w...

Remittances of Ukraine’s labor migrants were down 8.5% in June yoy Remittances of Ukraine’s labor migrants were down 8.5% in June yoy, falling to $856 million, reports the National Bank of Ukraine. After a strong start to the year, remittance fell sharply in in April...

With Ukraine’s borders closed during the April-May peak of the lockdown, cross-border money flows via banks actually increased by 13% yoy With Ukraine’s borders closed during the April-May peak of the lockdown, cross-border money flows via banks actually increased by 13% yoy, Alfa-Bank Ukraine reports, citing Central Bank data. Similarl...

During the summer harvest season, 9 million Ukrainians – or half of the nation’s total work force — work in the EU During the summer harvest season, 9 million Ukrainians – or half of the nation’s total work force — work in the EU, according to Social Policy Ministry estimates cited by the Kyiv Post in an art...

Ukrainian workers increasingly want to settle in Poland Ukrainian workers increasingly want to settle in Poland, according to a new study by the National Bank of Poland. Of Ukrainians surveyed in Warsaw this summer, 52% want to stay for three years or more...