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Tuesday, December 15

At the German-sponsored Energy Day, Prime Minister Shmygal thanked Germany for its aid, At the German-sponsored Energy Day, Prime Minister Shmygal thanked Germany for its aid, saying “the project for a fair transformation of coal regions under the new energy partnership will begin this m...

With the EBRD planning to invest up to $100 billion to help EU coal mining towns shift to new vocations through 2027 With the EBRD planning to invest up to $100 billion to help EU coal mining towns shift to new vocations through 2027, the Bank held an online conference Friday to promote a similar shift in Ukraine – ...

Polish tourists traveling to Chervonohrad, a Lviv region border town, will one day visit ‘Nadia,’ a Soviet-era coal mine turned into “industrial museum,” Polish tourists traveling to Chervonohrad, a Lviv region border town, will one day visit ‘Nadia,’ a Soviet-era coal mine turned into “industrial museum,” under a plan by Ukraine’s Regional Development...

The government promises to pay this week $50 million in back wages owed to coal miners across the country The government promises to pay this week $50 million in back wages owed to coal miners across the country, ruling party Rada Member Vasyl Mokan promised yesterday. About one quarter of the debt is owe...

Foreign shipping companies will be allowed to carry cargo up and down the Dnipro, Foreign shipping companies will be allowed to carry cargo up and down the Dnipro, under legislation approved by the Rada recently with President Zelenskiy’s backing. The goal is to triple annual river...

Ukrainians spent about $150 million last year to buy 3,200 apartments in Poland, making Ukrainians the largest foreign investor group in Polish residential real estate. Ukrainians spent about $150 million last year to buy 3,200 apartments in Poland, making Ukrainians the largest foreign investor group in Polish residential real estate. The calculations were made by G...

Low oil prices have saved Ukraine $3 billion so far this year Low oil prices have saved Ukraine $3 billion so far this year, reports the State Customs Service. Through November, Ukraine oil import bill is down 36%, while the import volume is down only 5.6%. The ...

Tuesday, December 8

By the end of this month, the goals of the Big Construction project should be 95% complete, By the end of this month, the goals of the Big Construction project should be 95% complete, Kyrylo Tymoshenko, deputy presidential chief of staff, tells Interfax-Ukraine. The completion scorecard is: ...

Europe’s biggest floating crane is being towed from Istanbul to Zaporizhia to complete the long-delayed bridge over the Dnipro Europe’s biggest floating crane is being towed from Istanbul to Zaporizhia to complete the long-delayed bridge over the Dnipro, reports Ukravtodor. When erect, the crane rises 148 meters — nearly the ...

Since March $518 million in loans have been extended to small businesses, a factor in mitigating the impact of the coronavirus recession Since March $518 million in loans have been extended to small businesses, a factor in mitigating the impact of the coronavirus recession, the Finance Ministry reported yesterday. Under the ‘5-7-9% Loa...

Home mortgage loans, long a rarity in Ukraine, are up 23% yoy, totalling almost $100 million through October Home mortgage loans, long a rarity in Ukraine, are up 23% yoy, totalling almost $100 million through October. The average size is for $26,000, and 87% are for second homes, reports the National Bank o...

By replacing ‘Black Friday’ sales with ‘Black Week’ sales, merchants managed to save what could have been a bleak start to the holiday season By replacing ‘Black Friday’ sales with ‘Black Week’ sales, merchants managed to save what could have been a bleak start to the holiday season, Ukrainian bankers tell Interfax-Ukraine. Charges with Akk...

By contrast, the MOYO chain of electronics stores says it doubled its sales on Black Friday By contrast, the MOYO chain of electronics stores says it doubled its sales on Black Friday. Sales were boosted partly by a 16% increase in stores, to 36, and by keeping one store in Kyiv open around ...

JYSK, which has a chain of 71 furniture stores in Ukraine, recorded a 10% increase in sales in November JYSK, which has a chain of 71 furniture stores in Ukraine, recorded a 10% increase in sales in November compared to last year. Evgeniy Ivanitsa, country director of the Danish-based firm, said this in...

Real wages jumped 11% yoy in October, Real wages jumped 11% yoy in October, reports the State Statistics Service. Reflecting the impact of the coronavirus epidemic, the fastest growing wages were in healthcare — up 54%. The worst performi...

The national monthly average wage is $430. The national monthly average wage is $430. The highest wages are in: Kyiv City — $618; Ukraine-controlled Donetsk — $479; and Kyiv Region — $456. Of the 24 regions, wages grew the fastest in: Chernivt...

Concorde Capital’s Evgeniya Akhtyrko attributes “the fast growth of real wages Concorde Capital’s Evgeniya Akhtyrko attributes “the fast growth of real wages to the minimum wage being hiked to UAH 5,000 a month starting Sept.1, relatively low consumer inflation, and the increase...

Next year’s planned 30% hike in the minimum wage will be postponed five months, until Dec. 1 Next year’s planned 30% hike in the minimum wage will be postponed five months, until Dec. 1, Finance Minister Serhiy Marchenko confirms. The increase, to $228 a month, is being delayed to keep down i...

For the statistics-addicted, the State Statistics Service has launched a mobile application “Statistics in a smartphone.” For the statistics-addicted, the State Statistics Service has launched a mobile application “Statistics in a smartphone.” Oleg Nemchinov, Minister of the Cabinet of Ministers, says the new service off...

Ukraine is discussing with Turkey the joint creation of launch vehicles for commercial launches of satellites into space Ukraine is discussing with Turkey the joint creation of launch vehicles for commercial launches of satellites into space, Ukraine’s Strategic Industries Minister Oleg Urusky tells Radio Svoboda. Ukrai...

The prolonged coronavirus pandemic will stretch Ukraine’s economic recession through the winter The prolonged coronavirus pandemic will stretch Ukraine’s economic recession through the winter, Economy Minister Ihor Petrashko predicted yesterday. But after a 3% GDP yoy drop in the first quarter, ...

Big government spending on infrastructure is singlehandedly pulling the construction sector into positive territory this year Big government spending on infrastructure is singlehandedly pulling the construction sector into positive territory this year, according to analysis by Alfa-Bank Ukraine. Through October, construction...

Overall, the government’s Big Construction’s share of GDP grew from 2.8% in the first quarter, to 10% in the fourth quarter Overall, the government’s Big Construction’s share of GDP grew from 2.8% in the first quarter, to 10% in the fourth quarter, Mikhail Kukhar, chief economist of Ukraine Economic Outlook, said last week...

Monday, December 7

In a bid to unlock billions of dollars in low interest IMF loans, the Rada restored accountability for false asset declarations, albeit a watered down version. In a bid to unlock billions of dollars in low interest IMF loans, the Rada restored accountability for false asset declarations, albeit a watered down version. Approved Friday, the new bill raised the...

Anti-corruption groups have protested. Anti-corruption groups have protested. President Zelenskiy wrote on Facebook: “It is a pity that the responsibility is still not as tough as we would like.” But he made clear he would sign the comprom...

Ukrainian bonds are among the best performing in emerging markets in the post-US-election rally Ukrainian bonds are among the best performing in emerging markets in the post-US-election rally, reports Tellimer Research. “Sovereign bonds lead the way, tightening 100-150bps in November and outperf...

Russia restarted construction of the Nord Stream 2 gas pipeline on Saturday Russia restarted construction of the Nord Stream 2 gas pipeline on Saturday, Ukraine’s Hromadske television channel reports, citing a document from the Germany’s Federal Maritime and Hydrographic Agen...

Germany’s government sees US sanctions against Nord Stream 2 as illegal and does not predict any change under a Biden administration Germany’s government sees US sanctions against Nord Stream 2 as illegal and does not predict any change under a Biden administration, German Foreign Minister Heiko Maas tells Der Spiegel. “”We h...

With Britain apparently heading toward a ‘hard Brexit’ With Britain apparently heading toward a ‘hard Brexit’ three weeks from now, Ukraine is asking the UK to negotiate a bilateral trade deal to lower tariffs. On Friday, Prime Minister Shmygal asked UK A...

Representatives of over 100 Ukrainian companies took part remotely in a China-Ukraine investment fair, hosted in Beijing Representatives of over 100 Ukrainian companies took part remotely in a China-Ukraine investment fair, hosted in Beijing, reports china.org.cnnews site With almost 300 Chinese and Ukrainian business a...

Huawei Ukraine is helping the Digital Transformation Ministry open a center Huawei Ukraine is helping the Digital Transformation Ministry open a center “for students and future entrepreneurs” at Kyiv’s Taras Shevchenko National University. “This initiative opens up new opport...

For the first time since Independence, Ukraine’s Defense Ministry is about to order new planes from Antonov For the first time since Independence, Ukraine’s Defense Ministry is about to order new planes from Antonov, Strategic Industries Minister Oleh Urusky tells Radio Svoboda. “A contract will be signed b...

Calling the condition of the state railroad’s freight wagons “catastrophic”, the Cabinet of Ministers has adopted a “program of radical renewal” Calling the condition of the state railroad’s freight wagons “catastrophic”, the Cabinet of Ministers has adopted a “program of radical renewal” — replacing all 63,000 in the state fleet o...

A total renewal of the wagon fleet will generate “billions of Hryvnia of government orders for Ukrainian manufacturers, hundreds of thousands of jobs A total renewal of the wagon fleet will generate “billions of Hryvnia of government orders for Ukrainian manufacturers, hundreds of thousands of jobs, additional GDP growth of 2% per year,” the minist...

Cracking down on overloaded trucks, the National Police checked 75,000 trucks last month Cracking down on overloaded trucks, the National Police checked 75,000 trucks last month, almost four times the number of checks performed in November of last year. So far this year, police have 665,0...

Air cargo through Kyiv-Boryspil is down by only 10% through November Air cargo through Kyiv-Boryspil is down by only 10% through November, compared to the first 11 months of last year. Air cargo dropped to 33,400 tons, Anton Borisyuk, the airport’s strategic developmen...

Tuesday, December 1

China has roared ahead of Russia to account for twice as much of Ukraine’s trade this year China has roared ahead of Russia to account for twice as much of Ukraine’s trade this year, reports the State Statistics Service. For this year through August, China-Ukraine two-way trade totaled $9.4...

DHL will create “a powerful logistics center” in Kyiv’s left bank Liski rail hub for container trains going to and from China DHL will create “a powerful logistics center” in Kyiv’s left bank Liski rail hub for container trains going to and from China, Ukrzaliznytsia CEO Volodomyr Zhmak writes of a memorandum of cooperation ...

In “ In “U.S., Russia Race to Outflank Each Other on Russian Pipeline,” Wall Street Journal reporter Brett Forrest recounts the down to the wire race to stop the Nord Stream 2 trans-Baltic gas pipeline, a ...

A bounty of mushrooms flowed out of Ukraine’s forests this fall, reports The New York Times A bounty of mushrooms flowed out of Ukraine’s forests this fall, reports The New York Times, citing unusual weather: “a dry summer followed by an unusually warm fall and late first frost.” In “I Have ...

With the Democrats returning to power in the White House With the Democrats returning to power in the White House, David Arakhamia, head of the Servant of the People Rada faction, hopes that Joe Biden will resume an Obama era practice of extending US guaran...

Ukraine’s faces a bulge in repayments next fall, and Arakhamia tells Interfax-Ukraine that he hopes a Biden Administration will roll over the $1 billion bond coming due in September. “ Ukraine’s faces a bulge in repayments next fall, and Arakhamia tells Interfax-Ukraine that he hopes a Biden Administration will roll over the $1 billion bond coming due in September. “We hope that wit...

“ “No IMF funding for Ukraine until Zelenskiy earns trust,” headlines a stinging critique of the Zelenskiy government by Anders Aslund, the Swedish-American economist who has been watching Ukraine for 3...

The Zelenskiy administration’s effort to get back on track with the IMF hit an unexpected bump when The Zelenskiy administration’s effort to get back on track with the IMF hit an unexpected bump when Oleg Tatarov, deputy head of the administration, said Saturday that the National Anti-Corruption Bur...

The Anti-Corruption Bureau was created with Western advice and financing. The Anti-Corruption Bureau was created with Western advice and financing. Ukrainian officials have repeatedly assured the IMF that it will be retained. Two weeks ago, Zelenskiy met with G7 ambassadors...

Ten Turkish and Ukrainian construction companies have applied to take part in the $200 million rebuild of Dnipro airport Ten Turkish and Ukrainian construction companies have applied to take part in the $200 million rebuild of Dnipro airport, reports Kyrill Khomyakov, head of Ukrinfraproekt, the State Agency for Infrast...

Controlled by the Ihor Kolmoisky group, Dnipro airport has languished Controlled by the Ihor Kolmoisky group, Dnipro airport has languished, recording Ukraine’s 7th largest volume of passengers last year. In 2019, Dnipro handled 338,888 passengers, sandwiched between Za...

In Switzerland, airplane pilots who are unable to fly during the coronavirus pandemic may soon retrain to become train drivers. In Switzerland, airplane pilots who are unable to fly during the coronavirus pandemic may soon retrain to become train drivers. With the support of Aeropers, the nation’s main union for cockpit employ...

In Berlin, DHL has painted its trademark yellow and red colors on 10 idle tour buses and converted them into ‘paketbussen.’ In Berlin, DHL has painted its trademark yellow and red colors on 10 idle tour buses and converted them into ‘paketbussen.’ The parcel buses, including six double deckers, will receive and deliver pac...

Tuesday, August 25

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.