business

Friday, September 4

The Finance Ministry reported that Ukraine’s state-owned banks wrote off $1 billion worth of non-performing loans The Finance Ministry reported that Ukraine’s state-owned banks wrote off $1 billion worth of non-performing loans at the expense of reserves during the first half of this year. For state banks, non-pe...

Almost overlooked in the furor of the Surkis case, Ukraine’s central bank met expectations yesterday and kept the prime lending rate at 6%. Almost overlooked in the furor of the Surkis case, Ukraine’s central bank met expectations yesterday and kept the prime lending rate at 6%. Dmitry Sologub, a deputy governor of the National Bank of Uk...

Political pressure is mounting on German Chancellor Angela Merkel to freeze or drop the Russia-Germany Nord Stream II pipeline project Political pressure is mounting on German Chancellor Angela Merkel to freeze or drop the Russia-Germany Nord Stream II pipeline project, according to Bloomberg and The Financial Times reports from Berl...

Now, Tim Ash and others are having second thoughts Now, Tim Ash and others are having second thoughts. He writes from London: “The reality is dawning that pressure to make management changes at the NBU was never really about monetary and exchange rate...

At stake is a $9.5 billion, 1,222 km, trans-Baltic pipeline designed to take gas directly from Russia to Germany. At stake is a $9.5 billion, 1,222 km, trans-Baltic pipeline designed to take gas directly from Russia to Germany. Capable of carrying 55 billion cubic meters of gas a year, this is designed to end Rus...

The central bank “expects an IMF [review] mission in the near future and plans to receive more money from the IMF by the end of the year,” The central bank “expects an IMF [review] mission in the near future and plans to receive more money from the IMF by the end of the year,” Shevchenko, the Bank Governor told reporters yesterday. Ash r...

With Navalny lying in an induced coma in Berlin’s Charité Hospital With Navalny lying in an induced coma in Berlin’s Charité Hospital, a 10-minute walk from the Bundestag, the mood inside Germany’s parliament building has turned sharply against the Kremlin.

The Finance Ministry sold the Hryvnia equivalent of $102 million in bonds at this week’s auction – three times the borrowings of last week. The Finance Ministry sold the Hryvnia equivalent of $102 million in bonds at this week’s auction – three times the borrowings of last week. The only bill that sold – a 13-month bond – went with a weig...

“The EU should jointly decide to stop Nord Stream,” “The EU should jointly decide to stop Nord Stream,” tweeted Norbert Roettgen, Head of the Bundestag’s Foreign Affairs Committee and a candidate to head Merkel’s Christian Democratic party. “The only l...

UIA is scheduling a direct Kyiv Boryspil – New York JFK – Kyiv Boryspil flight next Wednesday UIA is scheduling a direct Kyiv Boryspil – New York JFK – Kyiv Boryspil flight next Wednesday. With a one-way fare of $482, the Boeing leaves Kyiv at noon on Sept. 9. After a 2-hour turnaround in New ...

Nils Schmid, foreign policy spokesman for the SPD Nils Schmid, foreign policy spokesman for the SPD, a junior partner in the Merkel coalition, said: “We need to make it clear that all talk of a strategic partnership with Russia is now over.”

Three months after the end of Kyiv’s full corona lockdown, daily metro ridership is about one million, down by one third from the pre-lockdown volume 1.5 million. Three months after the end of Kyiv’s full corona lockdown, daily metro ridership is about one million, down by one third from the pre-lockdown volume 1.5 million. Normally, the Kyiv’s subway system ea...

Christian Lindner, leader of the liberal FDP party, said Christian Lindner, leader of the liberal FDP party, said: “A regime that organizes murders by poisoning is no partner for big cooperative projects — and that includes pipeline projects.”

Katrin Göring-Eckardt, leader of the Greens in parliament Katrin Göring-Eckardt, leader of the Greens in parliament, said: “Nord Stream 2 is no longer something we, together with Russia, can press ahead with.”

While Germans wait for Merkel’s move While Germans wait for Merkel’s move, Bild, Germany’s best-selling newspaper, calls on the Chancellor to “stop Putin’s pipeline.”

In Ukraine, Germany’s Ambassador Anka Feldhusen joined her G-7 counterparts yesterday to lobby Prime Minister Shmygal to defend PrivatBank In Ukraine, Germany’s Ambassador Anka Feldhusen joined her G-7 counterparts yesterday to lobby Prime Minister Shmygal to defend PrivatBank against attempts to reverse the 2016 nationalization of the U...

On Tuesday, a Kyiv court ruled that PrivatBank should pay $350 million On Tuesday, a Kyiv court ruled that PrivatBank should pay $350 million – principal and interest – for deposits of six British companies owned by Ihor and Hryhoriy Surkis, two brothers who were busines...

Thursday, September 3

Glencore, the agricultural commodities giant, has bought Everi, one of Ukraine’s largest vegetable oil export terminals Glencore, the agricultural commodities giant, has bought Everi, one of Ukraine’s largest vegetable oil export terminals. Built a decade ago in Mykolaiv, Everi was expanded in 2018 to have tanks capabl...

Qatar’s sovereign wealth fund, the Qatar Investment Authority i Qatar’s sovereign wealth fund, the Qatar Investment Authority is the biggest shareholder in Glencore. Two weeks ago, QTerminals, Qatar’s multinational port operator, signed a concession agreement to r...

Dry weather and drought, especially in southern Ukraine, will cut this year’s grain harvest by 7 million tons, or 9% below last year’s bumper harvest of 75 million tons Dry weather and drought, especially in southern Ukraine, will cut this year’s grain harvest by 7 million tons, or 9% below last year’s bumper harvest of 75 million tons, Prime Minister Shmygal told th...

Next year the government plans to channel “Big Construction” spending into “ Next year the government plans to channel “Big Construction” spending into “the creation of irrigation systems in the southern regions of Ukraine,” Prime Minister Shmygal told the Cabinet yesterday. “...

Starting this month, Starting this month, up to €120 million in loan money for rural infrastructure, including irrigation, is available for small and medium farmers in southern Kherson region. The money is part of a large...

Today, the National Bank of Ukraine is likely to keep the prime interest rate at the current level of 6%, Today, the National Bank of Ukraine is likely to keep the prime interest rate at the current level of 6%, indicate separate polls of economists and bankers by Reuters and Interfax Ukraine. With a 5.9%...

Signaling the end of an era, the volume of Russian gas crossing Ukraine on the Soviet-era pipeline system is down 42% Signaling the end of an era, the volume of Russian gas crossing Ukraine on the Soviet-era pipeline system is down 42% compared to the same January-August period last year. Under the Dec. 30 contract, ...

The biggest drops this year are on Ukraine’s southern route to Moldova and Romania The biggest drops this year are on Ukraine’s southern route to Moldova and Romania. On this ‘trans-Balkan route,’ gas shipments are down 73%, to 2.3 bcm for the first eight months. The game changer wa...

As Europe’s pipelines become increasingly inter-connected, ERU Trading, an American company, sent a test gas shipment in July from Revithoussa, Greece’s LNG terminal, on the Aegean Sea, through Romania to Ukraine. As Europe’s pipelines become increasingly inter-connected, ERU Trading, an American company, sent a test gas shipment in July from Revithoussa, Greece’s LNG terminal, on the Aegean Sea, through Romani...

As part of this newly liberalized market, 72 traders – a mix of European and Ukrainian companies – parked a total of 8.2 bcm of gas in Ukrainian reservoirs this summer, As part of this newly liberalized market, 72 traders – a mix of European and Ukrainian companies – parked a total of 8.2 bcm of gas in Ukrainian reservoirs this summer, waiting for the annual rise in ...

Well prepared for the winter heating season, Naftogaz has stored 25.6 bcm of its own gas, 39% more than this time last year Well prepared for the winter heating season, Naftogaz has stored 25.6 bcm of its own gas, 39% more than this time last year. By the Nov. 1 start of the heating season, Naftogaz may have a record 28 bc...

President Zelenskiy has called Turkish President Recep Tayyip Erdogan to congratulate him on the discovery of a large natural gas field in Turkish waters off the Black Sea coast. President Zelenskiy has called Turkish President Recep Tayyip Erdogan to congratulate him on the discovery of a large natural gas field in Turkish waters off the Black Sea coast. Erdogan estimates the...

Turkey and Ukraine are creating “a strategic alliance” for defense production, Turkey and Ukraine are creating “a strategic alliance” for defense production, Oleh Urusky, Ukraine’s Strategic Industries Minister, tells Ukrinform. In late August, Urusky led a group that toured Tur...

Wednesday, September 2

Kyiv’s Antonov is negotiating joint production with Turkey of its short range An-178 military cargo jets Kyiv’s Antonov is negotiating joint production with Turkey of its short range An-178 military cargo jets, reports Turkey’s Daily Sabah, a pro-government daily. Oleksandr Los, Antonov’s new CEO, visite...

Turkey’s new import tariffs on 115 goods are spurring Turkey and Ukraine to restart talks for a Free Trade Agreement Turkey’s new import tariffs on 115 goods are spurring Turkey and Ukraine to restart talks for a Free Trade Agreement. The two economy ministers, Ruhsar Pekcan for Turkey, and Igor Petrashko, for Ukrai...

In a key anti-corruption case watched by the IMF, Artem Sytnyk insists he is still director of the National Anticorruption Bureau, NABU. In a key anti-corruption case watched by the IMF, Artem Sytnyk insists he is still director of the National Anticorruption Bureau, NABU. Last Thursday, days after NABU released audio recordings where ...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy writes Monday: “It looks like there is a high chance for Sytnyk to remain at his position till the end of his seven-year term, which expires in spring 2022.”...

T The Constitutional Court acted in response to a petition by 51 MPs, many of the same pro-Kremlin or pro-Kolomoiskiy Rada members, who successfully asked the Court to open five proceedings aimed at Ukr...

Bonanza for TV stations and billboard owners Bonanza for TV stations and billboard owners: The Central Election Commission announces that campaigns for mayors and city councils officially start this Saturday. With the coronavirus pandemic ruling...

On the Move: On the Move:

Former Prime Minister Oleksiy Honcharuk joins the Atlantic Council’s Eurasia Center as a distinguished fellow Former Prime Minister Oleksiy Honcharuk joins the Atlantic Council’s Eurasia Center as a distinguished fellow, the Washington-based organization tweets. The youngest prime minister in Ukraine’s ...

Kurt Volker, who served until last September as the State Department’s Special Representative for Ukraine Negotiations, joined BGS Rail yesterday as an independent board member Kurt Volker, who served until last September as the State Department’s Special Representative for Ukraine Negotiations, joined BGS Rail yesterday as an independent board member of the Kyiv-based car l...

Ryanair, Europe’s largest low cost carrier, has canceled almost all its flights to Ukraine for the second half of September Ryanair, Europe’s largest low cost carrier, has canceled almost all its flights to Ukraine for the second half of September, the airline’s booking system shows, reports Evropeiska Pravda. With 52 rout...

UIA, Ukraine’s largest carrier, has cancelled or reduced frequencies for a long list of flights. UIA, Ukraine’s largest carrier, has cancelled or reduced frequencies for a long list of flights. Signaling that it believes that the ban on most foreign visitors will last until the Oct. 25 local elec...

Kyiv hotel owners and tour guides protested last Friday outside the Cabinet of Ministers Kyiv hotel owners and tour guides protested last Friday outside the Cabinet of Ministers saying the new one-month ban on most foreigners entering Ukraine is a heavy blow to tourism, an industry which ...

Prime Minister Shmygal expects that within one month Ukraine’s Covid-19 cases will be 50% higher than today Prime Minister Shmygal expects that within one month Ukraine’s Covid-19 cases will be 50% higher than today. “Today we have from 2,000 to 2,500 new cases of the disease every day,” he told 1+1 televis...

Ducking the issue Ducking the issue: Ukraine’s Antimonopoly Committee has declined to consider an application by Kharkiv’s DCH Group to purchase Motor Sich shares from China’s Skyrizon to run the Zaporizhia aircraft en...

Concorde Capital’s Alexander Paraschiy writes Concorde Capital’s Alexander Paraschiy writes: “The Antimonopoly Committee has been trying to avoid any decision on the Skyrizon / Motor Sich deal for about three years, and its latest move indicates ...

Monday, August 31

Coronavirus money is being spent on building roads to avoid borrowing money for this year’s $3 billion road building program Coronavirus money is being spent on building roads to avoid borrowing money for this year’s $3 billion road building program, David Arakhamia, head of the ruling Servant of the People faction in the R...

With economic ministries targeted, two to three Cabinet ministers may lose their jobs this fall With economic ministries targeted, two to three Cabinet ministers may lose their jobs this fall, Arakhamia tells Ukraina 24. “By the fall there may definitely be some rotations in individual ministrie...

China and Ukraine have agreed to increase bilateral trade and to identify joint projects in farming, infrastructure, energy, and energy conservation China and Ukraine have agreed to increase bilateral trade and to identify joint projects in farming, infrastructure, energy, and energy conservation, reports the press service of Ukraine’s Ministry of...

In coming weeks, the Kharkiv Metro is to sign a contract with China’s CRRC Tangshan for 40 new rail cars In coming weeks, the Kharkiv Metro is to sign a contract with China’s CRRC Tangshan for 40 new rail cars, a 13% percent increase in the fleet of Ukraine’s second largest subway system. With the new ca...

US Secretary of State Michael Pompeo warned President Zelenskiy about “malign” Chinese investment in Ukraine US Secretary of State Michael Pompeo warned President Zelenskiy about “malign” Chinese investment in Ukraine, including Beijing’s efforts to acquire the Motor Sich aircraft engine maker. The warning c...