financeUkraine

Friday, December 11

In a housecleaning exercise, the Cabinet of Ministers decided Wednesday to transfer 18 enterprises of the UkrOboronProm defense conglomerate to the State Property Fund for privatisation In a housecleaning exercise, the Cabinet of Ministers decided Wednesday to transfer 18 enterprises of the UkrOboronProm defense conglomerate to the State Property Fund for privatisation. With a total ...

The Russia-Ukraine military divorce deepened last week after Russian Helicopters accused Ukraine’s Motor Sich of performing “illegal” overhauls of Mil Mi-17 helicopters The Russia-Ukraine military divorce deepened last week after Russian Helicopters accused Ukraine’s Motor Sich of performing “illegal” overhauls of Mil Mi-17 helicopters for the Afghan Air Force, repor...

FlightGlobal, a US-based news site FlightGlobal, a US-based news site, recalls that last year, Ukraine’s Antonov sought to seize five An-124 cargo jets operated by Volga-Dnepr because the Russian air cargo company performed life extens...

The Black Sea Trade and Development Bank is extending at 9-year, €10 million loan to the Novopechersk School to build a new campus at Kyiv’s UNIT.City The Black Sea Trade and Development Bank is extending at 9-year, €10 million loan to the Novopechersk School to build a new campus at Kyiv’s UNIT.City, nearly tripling enrolment to 1,200 students. Zoy...

Parents of Kyiv’s French school are voting through Wednesday on an 18-month, €12 million project to build a 6,000 square meter unified campus at Unit.City. Parents of Kyiv’s French school are voting through Wednesday on an 18-month, €12 million project to build a 6,000 square meter unified campus at Unit.City. The project for Lycée Français Anne de Kiev ...

Ukrainians’ spending on foreign travel dropped in half this year, to $4.5 billion from $8.7 billion Ukrainians’ spending on foreign travel dropped in half this year, to $4.5 billion from $8.7 billion, Dmitry Sologub, a deputy governor of the National Bank of Ukraine, told reporters yesterday. “It wa...

Starting March 28, UIA promises to gradually, but “completely restore” its international route network Starting March 28, UIA promises to gradually, but “completely restore” its international route network, the airline says in a note posted on its siteyesterday. Ukraine’s flag carrier plans to restore ...

Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York, reports the US-based aviation news site, One Mile at a Time. The airline,...

Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year. In November, Kyiv’s right bank airport handled only 13% th...

Monday, November 30

In December, In December, “the probability of a complete coronavirus lockdown is 90%,” David Arakhamia, head of the ruling Servant of the People Party in the Rada, said on Ukraina TV’s Segodnya show Saturday. In c...

In preparation for a lockdown, a law to give financial aid to 2 million salaried workers hit by coronavirus controls goes into effect next week, In preparation for a lockdown, a law to give financial aid to 2 million salaried workers hit by coronavirus controls goes into effect next week, Arakhamia told reporters on Saturday. These one time pa...

About 10% of Ukraine’s small and medium businesses are on the verge of bankruptcy due to corona controls, About 10% of Ukraine’s small and medium businesses are on the verge of bankruptcy due to corona controls, Dafina Gercheva, resident representative of the United Nations Development Program, estimates ...

New coronavirus infections doubled in November New coronavirus infections doubled in November, hitting an average of 16,250 a day on Friday and Saturday. In Kyiv, the number of new cases hit a record 1,739, Mayor Klitschko said Saturday. In Lviv, ...

Betting that online sales will keep surging Betting that online sales will keep surging, Allo Group, the consumer electronics retailer, is launching its own nationwide delivery service, Allo Express in Ukraine. Citing “today’s realities,” Allo ...

Work on laying Nord Stream 2 gas pipeline could resume this weekend Work on laying Nord Stream 2 gas pipeline could resume this weekend in the Baltic Sea waters of Germany, near the Adlergrund shoal, reports Deutsche Welle. The local Stralsund Waterway Authority is ad...

Canada’s Vermilion Energy has backed out of two production sharing agreements it won last year with Naftogaz Canada’s Vermilion Energy has backed out of two production sharing agreements it won last year with Naftogaz, reports OilPoint, citing Ukraine’s state oil and gas company. The Calgary-based company “h...

Undeterred by this setback, Naftogaz is open to working with a foreign company, particularly Romanian, to develop the Dolphin block, Undeterred by this setback, Naftogaz is open to working with a foreign company, particularly Romanian, to develop the Dolphin block, in the Black Sea near the Danube delta and Romania’s maritime borde...

But this year’s slump in oil and gas prices makes Ukraine unattractive to oil and gas producers But this year’s slump in oil and gas prices makes Ukraine unattractive to oil and gas producers, say experts interviewed by UNIAN. “I honestly think that the chances of attracting serious Western inve...

Regarding the Dolphin block, Vitaly Radchenko, partner at CMS Cameron McKenna, said Regarding the Dolphin block, Vitaly Radchenko, partner at CMS Cameron McKenna, said: “We have talked with many normal real, producing, foreign oil and gas investors. We worked with them to get them in...

With winter temperatures increasingly mild, the Dnipro River shipping season is being extended for one extra month – to the end of December. With winter temperatures increasingly mild, the Dnipro River shipping season is being extended for one extra month – to the end of December. Originally, the river’s six locks were to start closing in ...

The $15 billion Istanbul Canal, an artificial alternative to the Bosporus, has reached the tender stage The $15 billion Istanbul Canal, an artificial alternative to the Bosporus, has reached the tender stage, Turkish President Recep Tayyip Erdogan said Friday. Expected to take a decade to dig, the 500-m...

Prime Minister Shmygal started a two-day visit to Turkey yesterday with a meeting with Turkish business executives in Istanbul. Prime Minister Shmygal started a two-day visit to Turkey yesterday with a meeting with Turkish business executives in Istanbul. Appealing for Turkish investment, he said: “We have ambitious plans to b...

Ukraine plans to purchase five more Turkish-made Bayraktar Tactical Block 2 unmanned aerial vehicles next year Ukraine plans to purchase five more Turkish-made Bayraktar Tactical Block 2 unmanned aerial vehicles next year, Turkish media report. Last month, Azerbaijan used these armed drones in its successful w...

Friday, November 27

Iran plans to pay €200 million in compensation to families of the 176 victims of the Jan. 8 shootdown of the UIA passenger over Tehran Iran plans to pay €200 million in compensation to families of the 176 victims of the Jan. 8 shootdown of the UIA passenger over Tehran, reports Al-Monitor news site. The money will come from the Natio...

Betting that vaccines will tame Covid, SkyUp Airlines is planning a summer flight schedule of more than 60 routes from 21 countries Betting that vaccines will tame Covid, SkyUp Airlines is planning a summer flight schedule of more than 60 routes from 21 countries. Betting also on the renaissance of Ukraine’s regional airports, hal...

With 76% of coronavirus unit beds occupied in Ukraine, authorities fear the country cannot make it to the Christmas holidays without imposing a major lockdown. With 76% of coronavirus unit beds occupied in Ukraine, authorities fear the country cannot make it to the Christmas holidays without imposing a major lockdown. One option would be to impose a lockdown...

Driving the urgency are record numbers. Driving the urgency are record numbers. Yesterday, the reported daily toll of new infections hit 15,331 and the daily death toll hit 225. New infections in Kyiv yesterday hit 1,399. The Health Ministr...

The Finance Ministry says it has reached agreement with the IMF on the size of Ukraine’s 2021 budget deficit. The Finance Ministry says it has reached agreement with the IMF on the size of Ukraine’s 2021 budget deficit. By postponing an increase in the minimum wage to the end of next year and taking other mea...

Ukraine has only received half of $6 billion international funding expected for this year Ukraine has only received half of $6 billion international funding expected for this year, Finance Minister Serhiy Marchenko said last night on the Right to Power talk show. Alluding to foot dragging ...

President Zelenskiy is about to sign a bill that would provide state guarantees for ‘green bonds’ to help pay Ukrenergo’s overdue debt to solar and wind producers President Zelenskiy is about to sign a bill that would provide state guarantees for ‘green bonds’ to help pay Ukrenergo’s overdue debt to solar and wind producers, Acting Energy Minister Yuriy Boyko t...

The government plans to close about half of the nation’s 33 state-owned coal mines during this decade The government plans to close about half of the nation’s 33 state-owned coal mines during this decade, Deputy Energy Minister Maxim Nemchinov said yesterday at the presentation of a presentation of th...

Ukrzaliznytsia has approved a framework agreement to allow private locomotives to operate on UZ tracks. Ukrzaliznytsia has approved a framework agreement to allow private locomotives to operate on UZ tracks. The signing of the first contract with a company, Ukrainian Locomotive Construction Company LLC,...

The Digital Transformation Ministry has set these targets for extending high speed mobile internet across the country: The Digital Transformation Ministry has set these targets for extending high speed mobile internet across the country: accessible to 90% of the population by July 1, 2021; all international highways b...

For rail travel, Vodaphone Ukraine is conducting a pilot project with the 35 km Boryspil Airport Express to determine cost for high speed internet coverage on Ukraine’s main rail lines. For rail travel, Vodaphone Ukraine is conducting a pilot project with the 35 km Boryspil Airport Express to determine cost for high speed internet coverage on Ukraine’s main rail lines. With about 10,...

With domestic tourism the trend, Ukrzaliznytsia seeks to win at least half of all tourists, luring them out of cars and buses. With domestic tourism the trend, Ukrzaliznytsia seeks to win at least half of all tourists, luring them out of cars and buses. To attract riders, the state railroad has reduced prices of first class t...

In a boost for Carpathian tourism, Ukravtodor inaugurates tomorrow 45 km of mountain road to Synevyr National Park. In a boost for Carpathian tourism, Ukravtodor inaugurates tomorrow 45 km of mountain road to Synevyr National Park. Essentially opening up the west entrance to the park to tourists from Lviv, the rebu...

arkovy, central Kyiv’s largest convention and exhibition center, is now officially owned by Lyubov Efimova, mother arkovy, central Kyiv’s largest convention and exhibition center, is now officially owned by Lyubov Efimova, mother of Ukrainian MP Maxim Efimov. Since opening in 2013, Parkovy has become a popular pla...

Thursday, November 26

The US Congress is targeting insurance companies in the latest strategy to stop the pipeline The US Congress is targeting insurance companies in the latest strategy to stop the pipeline, Bloomberg reports from Washington. “House and Senate negotiators agreed to target insurers and technical c...

In advance of passage, US officials already are contacting companies to warn they may face sanctions In advance of passage, US officials already are contacting companies to warn they may face sanctions, DPA reports from Washington. “We’re in the process of calling a number of these companies to make ...

Rozetka.ua Rozetka.ua, Ukraine’s largest online store is seeing record number of visitors to their site – 5.6 million on Tuesday. With the retailer’s ‘Black Friday’ sales going on all week, Vladyslav Chechotkin,...

The American Chamber of Commerce in Ukraine has presented its annual Thanksgiving Awards to Mykhailo Fedorov, Digital Transformation Minister, and to Paul Niland, founder of Lifeline Ukraine The American Chamber of Commerce in Ukraine has presented its annual Thanksgiving Awards to Mykhailo Fedorov, Digital Transformation Minister, and to Paul Niland, founder of Lifeline Ukraine, a nation...

The government yesterday granted Naftogaz the right to develop a massive Black Sea gas block without a tender. The government yesterday granted Naftogaz the right to develop a massive Black Sea gas block without a tender. The Dolphin block, near Ukraine’s portion of the Danube river delta, is believed to hold ...

Seismic work could involve $40 million of investments in the first year, Seismic work could involve $40 million of investments in the first year, Naftogaz said on Facebook. “This means the possibility of attracting international investors, and at the same time – on t...

Last year, an American company, Trident Acquisitions, won a competitive tender to develop the offshore block Last year, an American company, Trident Acquisitions, won a competitive tender to develop the offshore block. The incoming Zelenskiy government refused to accept the results of this ‘Poroshenko tender...

Ukraine has become a key player in the EU natural gas market, storing 10 billion cubic meters of gas this fall for gas traders. Ukraine has become a key player in the EU natural gas market, storing 10 billion cubic meters of gas this fall for gas traders. With the European heating starting last month, Ukraine, for the first ti...

Europe’s Green Deal commitment to renewables, hydrogen and decarbonizing energy sources “means that between 2030 and 2040 Europe’s Green Deal commitment to renewables, hydrogen and decarbonizing energy sources “means that between 2030 and 2040, Europe may see a radical drop in demand for natural gas,” Andrian Prokip, wro...

The EU ‘Hydrogen Strategy’ calls for dividing EU hydrogen production between the EU and its eastern neighbors. The EU ‘Hydrogen Strategy’ calls for dividing EU hydrogen production between the EU and its eastern neighbors. “This strategy stipulates that ‘the Eastern Neighborhood, in particular Ukraine, and the ...

In reaction, Gazprom and Rosatom, the nuclear corporation, recently signed a deal to hydrogen production in 2024 In reaction, Gazprom and Rosatom, the nuclear corporation, recently signed a deal to hydrogen production in 2024. Uniper, the German energy giant, says Nord Stream 2 could be repurposed to carry a ble...

“Joe Biden Is Unlikely to Save Angela Merkel’s Pet Project,” headlines a Bloomberg article yesterday about the $11 billion, 1,239 km Russia-German Baltic Sea gas line. “Joe Biden Is Unlikely to Save Angela Merkel’s Pet Project,” headlines a Bloomberg article yesterday about the $11 billion, 1,239 km Russia-German Baltic Sea gas line. “U.S. opposition is likely to re...

Democrats should not go wobbly on Nord Stream 2, The Wall Street Journal warns in an editorial: Democrats should not go wobbly on Nord Stream 2, The Wall Street Journal warns in an editorial: “Congress shouldn’t back off Russia sanctions in the annual defense bill.” “The incoming Democratic Admi...