businessnews

Wednesday, January 27

“Dmitri lokfuhrer,” or Dmitri, the locomotive engineer, is the poster boy for “Dmitri lokfuhrer,” or Dmitri, the locomotive engineer, is the poster boy for Deutsche Bahn’s new Ukrainian language recruiting advertisement for Ukrainian train drivers. Featuring a video of Dmitri d...

In a symbolic step toward privatizing Ukraine’s state-dominated banking sector, In a symbolic step toward privatizing Ukraine’s state-dominated banking sector, the World Bank’s International Finance Corporation is extending a €30 million euro loan to state-owned Ukrgasbank, which...

“Ukrgasbank will be Ukraine’s first state-owned bank to go private,” “Ukrgasbank will be Ukraine’s first state-owned bank to go private,” the National Bank of Ukraine said in a press release. “The new €30mn loan lays the groundwork for the bank’s transformation.” Kyryl...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy writes: “Taking into account that Ukrgazbank was best-prepared for an international financial institution entering into its equity, and that the negotiation proc...

The IMF has raised its world GDP growth forecast to 5.5% for this year The IMF has raised its world GDP growth forecast to 5.5% for this year, according to its World Economic Outlook Update released yesterday. Growth is predicated on aggressive and successful global vacc...

Ukraine wants to extend its $5.2 billion IMF loan program by another six months, to June 2022, Ukraine wants to extend its $5.2 billion IMF loan program by another six months, to June 2022, reports LB.ua. Approved last June, the program was designed to release the money in five tranches through...

Concorde Capital’s Alexander Paraschiy wrote Concorde Capital’s Alexander Paraschiy wrote: “The Fund will demand the full restoration of the recently damaged anti-corruption infrastructure. Therefore, the lb.ua allegations are in line with our a...

The Finance Ministry lowered yields on three of four-hryvnia Government Bonds it offered at auction yesterday The Finance Ministry lowered yields on three of four-hryvnia Government Bonds it offered at auction yesterday, the Ministry reported on Facebook. By squeezing the supply of 6-month bonds, it lowered t...

The Finance Ministry sold last year the equivalent of $13.6 billion worth of bonds The Finance Ministry sold last year the equivalent of $13.6 billion worth of bonds, reports the Ministry. About one third of the bonds were in foreign currency — $3.8 billion and €800 million. S...

With Argentina and Russia moving next month to curb corn exports, Ukraine is meeting domestic consumers half way, imposing an export quota of 24 million tons With Argentina and Russia moving next month to curb corn exports, Ukraine is meeting domestic consumers half way, imposing an export quota of 24 million tons, 8% higher than what pig and poultry produ...

Ukraine’s food exports to the EU slipped by 11% last year, to €6.5 billion Ukraine’s food exports to the EU slipped by 11% last year, to €6.5 billion, the Ukrainian Agribusiness Club reports on Facebook. Ukraine was tied with China as the third largest source of imported foo...

Poland, Slovakia and Hungary recruit heavily for Ukrzaliznytsia’s railway workers, Poland, Slovakia and Hungary recruit heavily for Ukrzaliznytsia’s railway workers, leading to a growing labor shortage here, reports the Center for Transportation Strategies. “There are a huge number ...

Wednesday, September 9

By 2023, several key regional airports will be reopened under the ‘Big Construction’ program By 2023, several key regional airports will be reopened under the ‘Big Construction’ program, President Zelenskiy promised last week on a visit to Poltava airport. “We will add all airports to the pro...

President Zelenskiy promised yesterday to rebuild the runway of Sumy airport, if the regional government finds an investor to rebuild the terminal. President Zelenskiy promised yesterday to rebuild the runway of Sumy airport, if the regional government finds an investor to rebuild the terminal. “We are ready to build this strip in Sumy,if you hav...

Zakarpattia will get an international standard airport with the construction in coming years of a $145 million airport in Mukachevo, Zakarpattia will get an international standard airport with the construction in coming years of a $145 million airport in Mukachevo, Infrastructure Minister Vladyslav Krikliy promises on Facebook. Las...

Zhytomyr regional authorities are talking with a private investor to build an air cargo hub at Zhytomyr airport, a 90-minute drive west of the Kyiv’s Ring Road. Zhytomyr regional authorities are talking with a private investor to build an air cargo hub at Zhytomyr airport, a 90-minute drive west of the Kyiv’s Ring Road. Vitaly Bunechko, head of the regional g...

Corona virus infections, hospitalizations and deaths are running at double the levels of one month ago Corona virus infections, hospitalizations and deaths are running at double the levels of one month ago, Ukraine Health Ministry figures show. On Monday morning, Health Minister Maksym Stepanov announc...

Ukraine may place $1-1.5 billion worth Eurobonds this fall to cover the budget deficit and to buy back more GDP warrants Ukraine may place $1-1.5 billion worth Eurobonds this fall to cover the budget deficit and to buy back more GDP warrants, predicts Bank of America Securities. This would follow July’s successful place...

Facing weak investor demand, the Finance Ministry sold on Tuesday only one third the volume of hryvnia bonds as at last week’s auction, and at slightly higher yields Facing weak investor demand, the Finance Ministry sold on Tuesday only one third the volume of hryvnia bonds as at last week’s auction, and at slightly higher yields. In yesterday’s auction, the gover...

Fitch, the ratings agency that most closely follows Ukraine, reaffirmed its ‘B’ rating for Ukraine last Friday Fitch, the ratings agency that most closely follows Ukraine, reaffirmed its ‘B’ rating for Ukraine last Friday, with a stable outlook. Japan’s R&I upgraded Ukraine’s sovereign rating last week by ...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy writes: Looking at the balance of possible positive and negative triggers for Ukraine’s rating, we see a low chance for Ukraine to get any better rating in the n...

A new Eurobond placement would come on the heels of two large deals A new Eurobond placement would come on the heels of two large deals:

Ukraine’s international reserves grew to $29 billion in August, the highest level in eight years Ukraine’s international reserves grew to $29 billion in August, the highest level in eight years, reports the National Bank of Ukraine. Boosting reserves, foreign travel by Ukrainians was down sharply...

Ukraine is on track with the IMF, Ukraine is on track with the IMF, Finance Minister Serhiy Marchenko said Monday on Inter TV’s Details of the Week program. He said: “We are in a dialogue with the IMF, and hope to receive the next tra...

Timothy Ash retorts from London: “ Timothy Ash retorts from London: “The danger with this official line that things are fine on the IMF front is that politicians are lulled into a false sense of security, when the reality is that this ...

Domestic air flights were down the least of air travel in August, down only 17% yoy to 2,519 Domestic air flights were down the least of air travel in August, down only 17% yoy to 2,519, reports UkSATSE, Ukraine’s air traffic control agency. By contrast – international flights to and fr...

Tuesday, September 8

Two years after Saudi investors bought Ukraine’s troubled Two years after Saudi investors bought Ukraine’s troubled Mriya Agro Holding, a shipment of 60,000 tons of Ukrainian wheat is on its way to Saudi Arabia. In the first such shipment to Saudi Arabia in ...

Poisoned Russian opposition activist Alexei Navalny has improved, doctors treating him in Berlin say. Poisoned Russian opposition activist Alexei Navalny has improved, doctors treating him in Berlin say. He is out of a medically-induced coma, is being weaned off a ventilator, and “is responding to ver...

Germany May Not Even Need the Nord Stream Pipeline Right Now Germany May Not Even Need the Nord Stream Pipeline Right Now, headlines a Bloomberg analysis from Berlin. “Europe is flooded with gas and demand is likely to remain stable,” reads the energy market an...

“Has Vladimir Putin Poisoned His Pet Pipeline Project?” “Has Vladimir Putin Poisoned His Pet Pipeline Project?” Diane Francis, an opponent of the gas line, asks in an Atlantic Council Ukraine blog.

Ukraine’s natural gas imports jumped 67% yoy in August, as EU gas traders filled Ukraine’s gas storage reservoirs to a record 84% of capacity. Ukraine’s natural gas imports jumped 67% yoy in August, as EU gas traders filled Ukraine’s gas storage reservoirs to a record 84% of capacity. Traders store their gas in Ukraine, waiting for the tradi...

Mikheil Saakashvili was chosen yesterday to lead an 11-party opposition coalition in Georgia’s Oct. 31 parliamentary elections. Mikheil Saakashvili was chosen yesterday to lead an 11-party opposition coalition in Georgia’s Oct. 31 parliamentary elections. If the coalition wins, the former Georgian president would become prime ...

Traffic at Boryspil was down 60% yoy in August, to 656,029 passengers, Traffic at Boryspil was down 60% yoy in August, to 656,029 passengers, reports the Center for Transportation Strategies. Traffic on charter flights was down by only 9%, indicating that Kyiv residents ...

A Chinese state company is discussing building a massive Black Sea grain terminal that could handle 5 million tons a year, the equivalent of 10% of Ukraine’s corn and wheat exports A Chinese state company is discussing building a massive Black Sea grain terminal that could handle 5 million tons a year, the equivalent of 10% of Ukraine’s corn and wheat exports. Yesterday, represe...

Chinese container trains now arrive at Kyiv at the pace of one a week Chinese container trains now arrive at Kyiv at the pace of one a week, reports Ukrzaliznytsia. Traveling 9,000 km from Nanchang in 15 days, the latest train arrived Saturday at Kyiv’s left bank Liski ...

Ukraine seeks Chinese investment in industrial parks specializing in processing, storing and transshipping food Ukraine seeks Chinese investment in industrial parks specializing in processing, storing and transshipping food, Olga Stefanishyna, deputy prime minister for European and Euro-Atlantic Integration, ye...

Through August, Ukraine’s seaports handled 5% more cargo than during the same period last year Through August, Ukraine’s seaports handled 5% more cargo than during the same period last year, reports the Ukrainian Sea Ports Authority. The 106 million tons of cargo breaks down as follows : export...

Ukraine’s top five ports handled 91.5% of the nation’s cargo during the first eight months of this year, Ukraine’s top five ports handled 91.5% of the nation’s cargo during the first eight months of this year, reports the Sea Ports Authority. Pivdennyi once again was the most dynamic, with its cargo leve...

Ukraine’s exports are recovering from last spring’s corona-recession. Ukraine’s exports are recovering from last spring’s corona-recession. August exports were down only 1.6% yoy, “which in the context of a pandemic sounds like fantasy,” Taras Kachka, deputy minister of...

Ukraine exports of corn, wheat, and barley will drop around 9% yoy, to 51 million tons Ukraine exports of corn, wheat, and barley will drop around 9% yoy, to 51 million tons, in the current marketing season, predicts Grainmart, India’s first Grain Trading B2B online marketplace. Based n...

Friday, September 4

Alexander Danilyuk, Finance Minister at the time of the nationalization, warned on Facebook yesterday Alexander Danilyuk, Finance Minister at the time of the nationalization, warned on Facebook yesterday: “This is the beginning of the collapse of the results of the nationalization of PrivatBank.” He w...

The Cabinet of Ministers has approved a strategy for steadily reducing the state share in Ukrainian banking, from 60% today, to below 25% in 2025 The Cabinet of Ministers has approved a strategy for steadily reducing the state share in Ukrainian banking, from 60% today, to below 25% in 2025. By the end of next year, all four state banks are to ...

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...