businessnews

Wednesday, August 26

Ukreximbank combined three instruments at once – a refinancing loan, an interest rate swap and purchase of securities. Ukreximbank combined three instruments at once – a refinancing loan, an interest rate swap and purchase of securities. Metzger said: “This is the first market transaction of this magnitude.”

Capital investments are down by 345% ($2.56 billion) in the first half of 2020, compared to the same period last year, Capital investments are down by 345% ($2.56 billion) in the first half of 2020, compared to the same period last year, reports Liga Busines,s citing the State Statistics Service. Investment in agricul...

The Rada approves state guarantees on $183 million of loans made to small and medium-sized enterprises The Rada approves state guarantees on $183 million of loans made to small and medium-sized enterprises, according to the government. Should borrowers default, the government will be obligated to repay...

The Rada authorizes the Ministry of Finance to issue more domestic local currency bonds (OVDPs) for the additional capitalization of the State Mortgage Agency to expand mortgage lending The Rada authorizes the Ministry of Finance to issue more domestic local currency bonds (OVDPs) for the additional capitalization of the State Mortgage Agency to expand mortgage lending, reports Liga....

The central bank plans to regulate the debt collection market The central bank plans to regulate the debt collection market, the bank reports on Facebook. The National Bank of Ukraine says it received hundreds of complaints about shady debt collectors using unet...

Yulia Tymoshenko, leader of Ukraine’s Fatherland party, is in serious condition after being hospitalized for Covid-19 Yulia Tymoshenko, leader of Ukraine’s Fatherland party, is in serious condition after being hospitalized for Covid-19, r her press secretary Marina Soroka writes on Facebook. “Unfortunately, there is ...

The Cabinet of Ministers calls for some quarantine measures to be extended until November 1 The Cabinet of Ministers calls for some quarantine measures to be extended until November 1, according to the office of the president. Over 108,000 people in Ukraine are known to be infected with Covi...

The Rada ratifies a memorandum of understanding between Ukraine and the EU for €1.2 billion of pandemic-related financial assistance The Rada ratifies a memorandum of understanding between Ukraine and the EU for €1.2 billion of pandemic-related financial assistance, according to the results of yesterday’s extraordinary session. The...

“But quarantine must remain adaptive and un-burdensome for entrepreneurs “But quarantine must remain adaptive and un-burdensome for entrepreneurs,” Zelenskiy stressed. “Small and medium-sized businesses should be able to properly maneuver in the new conditions.”...

The money is conditioned on the government’s pledge to ensure competitive selections for key positions, including the heads of Ukraine’s tax and customs agencies The money is conditioned on the government’s pledge to ensure competitive selections for key positions, including the heads of Ukraine’s tax and customs agencies. Other conditions include dissolving t...

The government is in the process of developing regulations to ban citizens from “red zone” countries from entering Ukraine for 30 days The government is in the process of developing regulations to ban citizens from “red zone” countries from entering Ukraine for 30 days, said the president. Globally, nearly 25 million people are confi...

The exact terms of the pandemic-relief loan have not yet been revealed The exact terms of the pandemic-relief loan have not yet been revealed, but previous EU liquidity programs were offered at 2% annual interest or lower to European Neighborhood Policy countries.

Zelenskiy suggests Ukraine should open up for Belarusians, given the increasing instability and continuing protests against President Lukashenko. Zelenskiy suggests Ukraine should open up for Belarusians, given the increasing instability and continuing protests against President Lukashenko. “How can we ban Belarusians from entering, espec...

Back in May, the European Parliament and Council decided to extend macro-financial credit assistance to European Neighborhood Policy countries. Back in May, the European Parliament and Council decided to extend macro-financial credit assistance to European Neighborhood Policy countries. The ENP countries are Algeria, Armenia, Azerbaijan, Bela...

UIA will operate two Kyiv-New York-Kyiv flights – one next Monday and the other on Sept. 9 UIA will operate two Kyiv-New York-Kyiv flights – one next Monday and the other on Sept. 9. The jets leave Kyiv Boryspil in the morning, turnaround at New York’s JFK, and then take off again for Ukrai...

The Rada signs off on a European Investment Bank program worth €450 million to help Ukraine’s big road building program The Rada signs off on a European Investment Bank program worth €450 million to help Ukraine’s big road building program, according to the government. The Bank says: “The financing will increase safety...

From the Editor: From the Editor: Alert reader Petro Rondiak, Board Manager of Winner Group, the new car importer, points out that that the latest numbers on car imports show that new car imports were up 15.9% yoy in ...

The €450 million in EIB financing covers The €450 million in EIB financing covers:

Tuesday, August 25

Business education for combat veterans and soft loans for veteran-owned startups are government priorities Business education for combat veterans and soft loans for veteran-owned startups are government priorities, President Zelenskiy said during an International Volunteer and Veterans Forum in Kyiv. “It&#...

With the minimum monthly wage set to rise to $182 (UAH 5,000) next Tuesday, Zelenskiy says the budget can “definitely support” the hike With the minimum monthly wage set to rise to $182 (UAH 5,000) next Tuesday, Zelenskiy says the budget can “definitely support” the hike. On July 1, the minimum wage is to increase by 30%, to UAH 6,500...

Grain sales were down 18% yoy in July, Grain sales were down 18% yoy in July, reports UNIAN citing the Ministry of Economic Development, Trade and Agriculture. Due to bad weather, much of the harvest is late.

Steelmaker ArcelorMittal has transferred 50 million tons of slag to the government for the national road construction program Steelmaker ArcelorMittal has transferred 50 million tons of slag to the government for the national road construction program, reports Interfax-Ukraine, citing the company. Earlier this year, Arcelor ...

Interpipe, Ukraine’s largest pipe and wheel producer, will redeem at par 97 million of its 2024 notes this week Interpipe, Ukraine’s largest pipe and wheel producer, will redeem at par 97 million of its 2024 notes this week, according to the company.

IKEA Ukraine plans to offer 5,000 items in its first physical store in Kyiv IKEA Ukraine plans to offer 5,000 items in its first physical store in Kyiv, says Florian Melle, Ukraine director of Ikea. He said: “A city-format store will open in Kyiv without a food department and...

Energy traders imported 345,000 megawatts of electricity in the first quarter of 2020 Energy traders imported 345,000 megawatts of electricity in the first quarter of 2020, reports NERC. The imported electricity was from Slovakia, Hungary, Romania and Belarus.

New car imports are down 36% y-o-y New car imports are down 36% y-o-y, reports Ukrinform citing Ukravtoprom. The average value of an imported new car is $19,300. Japanese vehicles are the most popular.

Passenger transport is down 56.2% y-o-y Passenger transport is down 56.2% y-o-y, reports the State Statistics Service. Rail was down 58.2%. Motor transport was down by 44.3%.

There have been no combat losses in the eastern regions for the past 29 days There have been no combat losses in the eastern regions for the past 29 days, Zelenskiy said during his Independence Day speech. “A year ago, I talked about how every morning starts with an SMS messag...

The IMF has yet to set a date for the review of the Standby Agreement, a review that was to be in September. The IMF has yet to set a date for the review of the Standby Agreement, a review that was to be in September. IMF Ukraine representative Goesta Ljungman tells Hromadske that while “discussions on the i...

Ukraine received in June a first $2.1 billion tranche Ukraine received in June a first $2.1 billion tranche of what is to be a $5 billion loan program.

Prime Minister Shmygal says he expects Ukraine will receive the second tranche by the end of this year Prime Minister Shmygal says he expects Ukraine will receive the second tranche by the end of this year. Some economic analysts say the IMF switched to observation mode after President Zelenskiy unexpe...

International reserves reached a new high this month at $28.8 billion International reserves reached a new high this month at $28.8 billion, according to the National Bank of Ukraine. Boosted by the IMF tranche, this is the highest level in eight years.

Mykolaiv’s shipbuilding industry is to be revived with a government program designed to create 25,000 new jobs Mykolaiv’s shipbuilding industry is to be revived with a government program designed to create 25,000 new jobs, President Zelenskiy and David Arakhamia, leader of the Servant of the People Rada, promi...

The government promises “a national program to support shipbuilding, cheaper credit resources,” The government promises “a national program to support shipbuilding, cheaper credit resources,” Arakhamia said. Later on Friday, Oleh Uruskyi, Minister for Strategic Industries visited the Okean shipy...

Friday, August 21

The central bank simplifies the banking charter process. The central bank simplifies the banking charter process. The NBU website: “The regulator has reduced the number of documents that must be submitted by banks for approval by managers. Now the process o...

Monetary policy targets an annual inflation rate of 5% Monetary policy targets an annual inflation rate of 5%, reports Ukrinform, citing the NBU.

Oschadbank plans to auction off non-performing loan portfolios starting in autumn 2020 Oschadbank plans to auction off non-performing loan portfolios starting in autumn 2020, reports Interfax Ukraine. In the first half of this year this state bank wrote off $800 million in non performin...

Naftogaz will develop its assets in Egypt instead of selling them, Naftogaz will develop its assets in Egypt instead of selling them, reports the company’s press service. Last December, , the state company announced plans to sell off two oil and gas fields near Alam ...

NV magazine NV magazine publishes its top 100 “most influential” people in Ukraine. The top 5 in chronological order are: President Volodymyr Zelenskiy, tycoon Rinat Akhmetov, Interior Minister Arsen Avakov, Pres...

Kharkiv tries to poach IT specialists from Belarus by offering relocation perks Kharkiv tries to poach IT specialists from Belarus by offering relocation perks, reports Interfax-Ukraine. “Kharkiv IT-community sincerely empathizes with Belarussian colleagues who are forced to be i...

Epicenter K, a local home improvement chain, is introducing a new browsing format for shoppers Epicenter K, a local home improvement chain, is introducing a new browsing format for shoppers. “It is sometimes difficult for a buyer to imagine a complete picture of the future interior accord...

Unemployment is up 67% y-o-y since the beginning of quarantine measures Unemployment is up 67% y-o-y since the beginning of quarantine measures, reports UNIAN citing the State Employment Service. Between March and August 2020, about 432,000 more Ukrainians were officially...

Agricultural production in the first half of 2020 dipped 11.2% y-o-y Agricultural production in the first half of 2020 dipped 11.2% y-o-y, according to the State Statistics Service. Production by industrial scale-enterprises was down by 15.3% while small-scale producer...

The World Bank praised Ukraine’s coronavirus response, The World Bank praised Ukraine’s coronavirus response, says Deputy Health Minister Svitlana Shatalova. “On August 17, during a meeting between Health Minister Maksym Stepanov and World Bank Coun...

Qatar’s QTerminals yesterday signed the concession agreement for the Olvia port in Mykolaiv region, Qatar’s QTerminals yesterday signed the concession agreement for the Olvia port in Mykolaiv region, reports Interfax Ukraine. Infrastructure Minister Vladislav Krykliy announced: “QTerminals is to inv...

“The successful signing of pilot concessions for the ports of Olvia and Kherson proved that the public-private partnership model can effectively attract private investment in Ukrainian infrastructure,” “The successful signing of pilot concessions for the ports of Olvia and Kherson proved that the public-private partnership model can effectively attract private investment in Ukrainian infrastructure,...

China strengthens its position as Ukraine’s top trading partner, with $6.6 billion in bilateral trade in the first half of 2020 China strengthens its position as Ukraine’s top trading partner, with $6.6 billion in bilateral trade in the first half of 2020, according to the State Statistics Service. For perspective, bilateral t...

Ukraine’s exports to South Korea grew by 89% to $252 million in the first half of 2020 Ukraine’s exports to South Korea grew by 89% to $252 million in the first half of 2020, reports the State Statistics Service.

The Cabinet of Ministers canceled a 1992 agreement with the Russia regarding mutual trade representatives The Cabinet of Ministers canceled a 1992 agreement with the Russia regarding mutual trade representatives, according to the government. “To stop the agreement between the government of Ukraine a...

Ukraine’s central bank has established “flexible” guidelines for the restructuring of debt assumed by green energy producers. Ukraine’s central bank has established “flexible” guidelines for the restructuring of debt assumed by green energy producers. The National Bank of Ukraine website writes: “The NBU has provided for a p...