jimbrookmorningnews

Friday, July 31

Aivaras Abromavičius, head of Ukroboronprom, is signaling he is ready to move on. Aivaras Abromavičius, head of Ukroboronprom, is signaling he is ready to move on. Noting that he took the job running the state arms conglomerate last August, he told a Kyiv School of Economics roundt...

Military transport jets, notably the An-178, represent the most promising niche for Antonov, Military transport jets, notably the An-178, represent the most promising niche for Antonov, Abromavičius told Channel 24 last month, shortly after firing the head of the state aircraft maker. “Togeth...

Western standard corporate governance of state companies is a key demand of the IMF Western standard corporate governance of state companies is a key demand of the IMF under the $5 billion Standby Agreement reached last month. On Wednesday, the IMF’s representative to Ukraine decline...

Thursday, July 30

US-based GE Steam Power has been selected by Ukraine’s AtomRemontServis to provide three years of maintenance for two of Ukraine’s four nuclear power plants, Rivne and Khmelnytsky. US-based GE Steam Power has been selected by Ukraine’s AtomRemontServis to provide three years of maintenance for two of Ukraine’s four nuclear power plants, Rivne and Khmelnytsky. “Through this new s...

The EBRD plans to lend Ukrposhta €53 million for a €102 million program to buy mobile post office vans for rural areas and to build automated sorting hubs for Kyiv, Lviv and Dnipro The EBRD plans to lend Ukrposhta €53 million for a €102 million program to buy mobile post office vans for rural areas and to build automated sorting hubs for Kyiv, Lviv and Dnipro. The European Inves...

Next year, the government plans to repair or rebuild 7,000 km of roads – two thirds more than this year Next year, the government plans to repair or rebuild 7,000 km of roads – two thirds more than this year, reports Alexander Kubrakov, head of Ukravtodor, the state highway agency. For comparison, the d...

In the worst outbreak of Covid-19 in Kyiv to date, the virus has swept through a crowded student dormitory at Kyiv Polytechnic Institute, infecting 87.5% of the 152 students living there In the worst outbreak of Covid-19 in Kyiv to date, the virus has swept through a crowded student dormitory at Kyiv Polytechnic Institute, infecting 87.5% of the 152 students living there. Of the 133 i...

With one month left for summer vacations, Egypt and Turkey are the only easy options for a vacation outside Ukraine. With one month left for summer vacations, Egypt and Turkey are the only easy options for a vacation outside Ukraine. Both countries do not require corona testing for arriving travelers. And passengers...

Travelers returning to Ukraine from Albania, Bulgaria, and Montenegro have to go into self-isolation Travelers returning to Ukraine from Albania, Bulgaria, and Montenegro have to go into self-isolation pending negative results of tests. Starting today, Ukrainians can only enter Bulgaria with a negati...

Ukraine’s economy will bounce back next year, recovering the losses of 2020, according to the government’s official 2021 macroeconomic economic forecast. Ukraine’s economy will bounce back next year, recovering the losses of 2020, according to the government’s official 2021 macroeconomic economic forecast. The economy will drop by 4.8% this year. Then,...

Passengers can now take coronavirus PCR tests at Kyiv Sikorsky airport. Passengers can now take coronavirus PCR tests at Kyiv Sikorsky airport. The testing point is next to the first-floor medical center of Terminal A. The test costs $60, results are emailed to passengers...

As a sequel to the government printing money to stimulate spending and investment, inflation will triple, As a sequel to the government printing money to stimulate spending and investment, inflation will triple, rising to 7.3% in December 2021, from 2.4% last month. The hryvnia will devalue 5% from curren...

UIA is adding two additional flights between Kyiv Boryspil and New York’s JFK in August UIA is adding two additional flights between Kyiv Boryspil and New York’s JFK in August. The flights leave Kyiv on 11:25 am on Monday mornings – Aug. 24 and Aug. 31. The jets fly back from JFK on Mond...

Bidding was weak for hryvnia bonds offered in the Finance Ministry’s weekly auction on Tuesday. Bidding was weak for hryvnia bonds offered in the Finance Ministry’s weekly auction on Tuesday. While two hryvnia bond offerings drew a total of five bids, there were 29 bidders for 1-year dollar bond...

Concorde Capital’s Evgeniya Akhtyrko writes: Concorde Capital’s Evgeniya Akhtyrko writes: “The larger financial community still sees high uncertainty related to the future trend of the hryvnia exchange rate…market players haven’t ruled out...

Last week, the National Bank of Ukraine sold $350 million to halt the slide of the hryvnia. Last week, the National Bank of Ukraine sold $350 million to halt the slide of the hryvnia. Today it trades at 27.7 to the dollar. Easing the demand for dollars and helping the hryvnia, most Ukrainian...

S&P upgraded yesterday the long-term credit rating of Ukrzaliznytsia to B- from CCC, reversing its downgrade of three months ago S&P upgraded yesterday the long-term credit rating of Ukrzaliznytsia to B- from CCC, reversing its downgrade of three months ago. Triggering the upgrade, Ukrainian Railways announced Monday that i...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy: “Sberbank debt restructuring is probably the most important event for Ukrainian Railways in 2020. Sberbank’s loans accounted for half of the total debt th...

During the first half of this year, Ukraine surpassed the US to become the world’s 9th largest producer of pig iron, or crude iron, During the first half of this year, Ukraine surpassed the US to become the world’s 9th largest producer of pig iron, or crude iron, according to Worldsteel Association. Ukraine edged out the US becaus...

China’s hunger for Ukrainian iron helped Lemtrans boost cargo carried in the first half of this year by 26% yoy, China’s hunger for Ukrainian iron helped Lemtrans boost cargo carried in the first half of this year by 26% yoy, to 25 million tons. Lemtrans, Ukraine’s largest private operator of rail wagons, enjoye...

Revenue from Ukraine’s steel exports dropped by 17% in the first half of this year, Revenue from Ukraine’s steel exports dropped by 17% in the first half of this year, compared to the same January-June period last year. With revenues of $3.9 billion, metallurgical products accounted ...

Wednesday, July 29

To revive tourism, Egypt is cancelling tourist visa fees for Ukrainians and is limiting its resort hotel occupancies to 50%. To revive tourism, Egypt is cancelling tourist visa fees for Ukrainians and is limiting its resort hotel occupancies to 50%. Last year, 1.7 million Ukrainians – about 5% of the nation’s population – v...

Starting Saturday, Chinese tourists will be able to enter Ukraine visa-free for one 30-day period every six months. Starting Saturday, Chinese tourists will be able to enter Ukraine visa-free for one 30-day period every six months. President Zelenskiy says the goal is “to develop friendly relations between Ukraine ...

The EU will remain closed to most travel from Ukraine through mid-August The EU will remain closed to most travel from Ukraine through mid-August, according to the latest update of ‘Green zone’ countries – those with high coronavirus infection rates. The EU updates the tra...

Ukraine has grown to become the second largest supplier of organic food to the EU Ukraine has grown to become the second largest supplier of organic food to the EU, according to a new official report, ‘EU imports of organic agri-food products: key developments in 2019’. Ukraine is ...

UIA will offer three flights from Kyiv Boryspil to the US and back next week. UIA will offer three flights from Kyiv Boryspil to the US and back next week. On Monday and Friday morning, flights will leave Kyiv for New York’s JFK. The flights return to Kyiv the same day, taking ...

With half of the wheat threshed and three quarters of the barley harvested, Ukrainian farmers have harvested this summer 22 million tons of grain With half of the wheat threshed and three quarters of the barley harvested, Ukrainian farmers have harvested this summer 22 million tons of grain. This year’s harvest is expected to be 70 million tons...

Betting that EU travel restrictions will drop, Ryanair will start flights in October between Odesa and Athens and Barcelona. Betting that EU travel restrictions will drop, Ryanair will start flights in October between Odesa and Athens and Barcelona. With these flights, Ryanair will fly to 12 EU cities from Odesa. By March, ...

Kernel, Ukraine’s largest grain exporter, increased its grain exports by 30% yoy Kernel, Ukraine’s largest grain exporter, increased its grain exports by 30% yoy, to 7.9 million tons in the marketing year that ended in June. With this volume, Kernel handled 14% of Ukraine’s total ...

Two new airlines are being created in Ukraine: Bees Airline and Skhid-Zakhid (East-West), Two new airlines are being created in Ukraine: Bees Airline and Skhid-Zakhid (East-West), Evgeniy Khainatsky, the former SkyUp CEO, tells Turprofi, a Ukrainian tourism industry newssite. “After overco...

Kernel, Ukraine’s leading sunflower oil producer, increased its oilseeds processing by 9% yoy, to a record 3.4 million tons Kernel, Ukraine’s leading sunflower oil producer, increased its oilseeds processing by 9% yoy, to a record 3.4 million tons, the company reports. Oil sales fell by 6%, to 1.5 million tons.

Ukraine’s sunflower oil exports grew by 24% during the first half of this year Ukraine’s sunflower oil exports grew by 24% during the first half of this year, compared to January-June last year. The $2.7 billion in sunflower oil sales accounted for 27% of all food exports during...

Sunflower seeds were, once again, Ukraine’s most profitable crop Sunflower seeds were, once again, Ukraine’s most profitable crop, hitting 23.5% according to date from the State Statistics Service. In general, profitability was down across the board, reports Yuri L...

Irrigation of 500,000 hectares of farmland would boost national agricultural production by 8-10 million tons, estimates Igor Petrashko, Irrigation of 500,000 hectares of farmland would boost national agricultural production by 8-10 million tons, estimates Igor Petrashko, Minister of Economy, Trade and Agriculture. With Soviet-era irri...

With food Ukraine’s largest export, the government will recreate the Agriculture Ministry in September With food Ukraine’s largest export, the government will recreate the Agriculture Ministry in September, President Zelenskiy says. Last September, Zelenskiy moved to create an economic ‘super ministry’...

Potato Agro plans to build one of Ukraine’s first processing plants for French fries, Potato Agro plans to build one of Ukraine’s first processing plants for French fries, Konstantin Sarnatsky, company CEO, tells Potato News Today. The company markets its products under the brand Bestp...

The EU lockdown is crimping Ukraine’s once booming snail farming industry, reports AFP The EU lockdown is crimping Ukraine’s once booming snail farming industry, reports AFP. From 250 tons in 2018, Ukrainian snail farmers had expected to produce 1,000 tons this year, almost all for expo...

The ‘Green Tariff’ law is now on the desk of President Zelenskiy, awaiting his signature. The ‘Green Tariff’ law is now on the desk of President Zelenskiy, awaiting his signature. Yesterday, a procedural block was lifted and Rada Chairman Dmytro Razumkov signed the bill. The law would cut ...

Air travel will return to 2019 levels in 2024, Air travel will return to 2019 levels in 2024, predicts the International Air Transport Association. World air travel was down 86.5% yoy in June, an improvement over the 91% drop in May. IATA said the...

Ukraine’s number of air passengers this year will be one third the level of 2019 Ukraine’s number of air passengers this year will be one third the level of 2019, predicts Infrastructure Minister Vladyslav Krikliy, who oversees transportation. Although flight frequencies have been...

Tuesday, July 28

Betting on the return of air travel, Ukraine’s Betting on the return of air travel, Ukraine’s SkyUp Airlines plans to receive two Boeing 737s by the end of this year, Dmitry Seroukhov, acting CEO, tells the Center for Transportation Strategies. By...

UIA currently uses eight of the 29 aircraft it has based at Boryspil UIA currently uses eight of the 29 aircraft it has based at Boryspil, Sergei Fomenko, the airline’s vice president for commercial activities, tells the Center for Transportation Strategies. Depending ...

Three districts of Kyiv lost power yesterday evening for several hours due to a fire at the Kyiv’s Combined Heat and Power Plant №5. Three districts of Kyiv lost power yesterday evening for several hours due to a fire at the Kyiv’s Combined Heat and Power Plant №5. Traffic lights went out, trolleybuses stopped working, two Metro st...

Ukrzaliznytsia is negotiating with GE Transportation a potentially $200 million deal to supply up to 40 diesel locomotives Ukrzaliznytsia is negotiating with GE Transportation a potentially $200 million deal to supply up to 40 diesel locomotives, Ivan Yuryk, acting CEO of the state railroad, tells NV Business. Last year, ...

Iron ore for China, grain, and gravel for road building got Ukrzaliznytsia through the April-May downturn Iron ore for China, grain, and gravel for road building got Ukrzaliznytsia through the April-May downturn, Yuryk tells NV Business in a separate story. “Export of iron ore to China is the only thing t...

UZ has restructured $200 million in debt that due to be paid on Friday to Sberbank (Ukraine). UZ has restructured $200 million in debt that due to be paid on Friday to Sberbank (Ukraine). In addition to stretching repayment of this debt over three years, “the company plans to further refinance...

During the first half of this year, freight carriage was down 16% over the same January-June period of last year During the first half of this year, freight carriage was down 16% over the same January-June period of last year, reports the State Statistics Service. The fall to 275 million tons breaks down as foll...

At the seaports, port operators increased tonnage by 10%, to 79 million tons At the seaports, port operators increased tonnage by 10%, to 79 million tons. Exports were up 9%, import were up 13%, and transit was up 13%.

Of the ports, Odesa Region’s Pivdenniy increased its lead as the nation’s busiest sea port, handling almost 40% of Ukraine’s seaborne trade Of the ports, Odesa Region’s Pivdenniy increased its lead as the nation’s busiest sea port, handling almost 40% of Ukraine’s seaborne trade during the first half of this year. Pivdenniy’s increased it...

Ukraine’s exports of grains, legumes and flour increased by 13.5% in the recently completed marketing year Ukraine’s exports of grains, legumes and flour increased by 13.5% in the recently completed marketing year, compared to the same July-June period last year. The exports of 57.2 million tons are a reco...