kyivbusiness

Tuesday, July 21

On Thursday, the Board of the National Bank is expected to cut rates at its pre-scheduled meeting. On Thursday, the Board of the National Bank is expected to cut rates at its pre-scheduled meeting. From 6%, a historic low for Ukraine, the rate is expected to be cut to 5-5.5%, economists say. At 5%,...

Boosting loans and fueling economic growth are keys for coming out of the corona recession, Boosting loans and fueling economic growth are keys for coming out of the corona recession, Shevchenko said: “Today Ukraine has a new challenge – economic recovery. And the National Bank, ...

Monday, July 20

“ “Dark clouds hang over #UkraineRenewableSector,” headlines a story in EU Reporter, the Brussels-based news site. “If any potential decrease in the feed-in tariffs does not receive the total backing fr...

Industrial electricity consumers are pushing back against next month’s planned doubling of the electricity transmission tariff Industrial electricity consumers are pushing back against next month’s planned doubling of the electricity transmission tariff – a hike designed in part to help pay overdue bills to renewable power pr...

Cheap electricity is key for Ukrainians metals competing in world markets. Cheap electricity is key for Ukrainians metals competing in world markets. “To be a successful competitor in the rolled metal market, we are obliged to offer high quality product and reasonable prices...

Rising electricity use, more registrations of autonomous workers and re-openings of small and medium businesses are “ Rising electricity use, more registrations of autonomous workers and re-openings of small and medium businesses are “indicators of economic recovery,” Finance Minister Serhiy Marchenko told journalist...

The current hryvnia dollar exchange rate is “normal,” Minister Marchenko told reporters. The current hryvnia dollar exchange rate is “normal,” Minister Marchenko told reporters. Ten days ago, President Zelenskiy said the hryvnia is over valued by 10%.

Ukrainians declared UAH 94.5 billion [$3.5 billion] in income tax last year, 13% more than in 2018 Ukrainians declared UAH 94.5 billion [$3.5 billion] in income tax last year, 13% more than in 2018, reports the State Tax Service. Almost 505,000 Ukrainians filed their declarations by June 30, the de...

A license to mine fire clay near the Donetsk front line sold for 2,362 times the asking price Friday. A license to mine fire clay near the Donetsk front line sold for 2,362 times the asking price Friday. The difference came when the State Geology and Subsoil Service innovated and sold the license thro...

The first auctions for mining amber deposits were held Friday on ProZorro. The first auctions for mining amber deposits were held Friday on ProZorro. In a market test of the new amber mining law, four mining companies bid the price of the first license up almost 40 times, to...

The 50 speed cameras operating in Kyiv since June have cut the number of speeders by 80% and have netted the Treasury $2 million in fines The 50 speed cameras operating in Kyiv since June have cut the number of speeders by 80% and have netted the Treasury $2 million in fines, Anton Gerashchenko, deputy minister of Internal Affairs, tell...

Construction of Ukraine’s largest air cargo terminal should start this fall at Boryspil Construction of Ukraine’s largest air cargo terminal should start this fall at Boryspil, reports the European Business Association, citing an EBA logicistics meeting with airport executives and Oleh Y...

With the EU closed to Ukrainian tourists, SkyUp airline is postponing resuming EU flights until Ukraine’s Covid infection rate drops to EU levels With the EU closed to Ukrainian tourists, SkyUp airline is postponing resuming EU flights until Ukraine’s Covid infection rate drops to EU levels. For now, the airline flies to Albania, Egypt and Turk...

Ivano-Frankivsk is the latest regional airport to resume service. Ivano-Frankivsk is the latest regional airport to resume service. Windrose, an airline controlled by Ihor Kolomoisky, started flying Thursday from Kyiv Boryspil, to the airport, which also is controll...

Today in Paris, international experts are to start reading the black box from the UIA passenger jet shot down outside Tehran airport on Jan. 8 Today in Paris, international experts are to start reading the black box from the UIA passenger jet shot down outside Tehran airport on Jan. 8 by Iranian surface to air missiles, Mohsen Baharvand, an ...

Tomorrow, the Rada is to debate and vote on second reading the energy bill reducing the ‘green’ tariffs for solar and wind energy producers Tomorrow, the Rada is to debate and vote on second reading the energy bill reducing the ‘green’ tariffs for solar and wind energy producers. The bill was to be voted on Friday, but the government did ...

Eight business chambers and renewable energy groups Eight business chambers and renewable energy groups called Saturday on the Rada to adopt the tariff bill “as a critical step toward resolving the renewable energy crisis in Ukraine.” The letter calls ...

The draft includes a timetable for the government to pay green energy producers their unpaid bill, currently $625 million. The draft includes a timetable for the government to pay green energy producers their unpaid bill, currently $625 million. “Green energy producers have not been paid in full since March,” notes the le...

Friday, July 17

To calm investors and markets, the new central bank governor should quickly state his policy on inflation and foreign exchange, To calm investors and markets, the new central bank governor should quickly state his policy on inflation and foreign exchange, former Economy Minister Timofey Milovanov tells Interfax-Ukraine. “it is...

The American Chamber of Commerce in Ukraine says: The American Chamber of Commerce in Ukraine says: “The business community hopes that the new head of the National Bank will preserve the independence of the NBU and continue its current course, in par...

With the ‘green tariff’ for solar and wind farms unresolved, the Rada is extending its session through Tuesday in hopes of finding a solution With the ‘green tariff’ for solar and wind farms unresolved, the Rada is extending its session through Tuesday in hopes of finding a solution. Wind and solar producers have largely gone unpaid by Ukre...

In the Rada, deputies loyal to Ihor Kolomoisky, a major electricity consumer, propose tariff cuts deeper than the compromise memorandum In the Rada, deputies loyal to Ihor Kolomoisky, a major electricity consumer, propose tariff cuts deeper than the compromise memorandum accepted by most producers last month. In face of this looming c...

Yesterday, the Rada also voted to promote Olga Pishchanska to chair of the Antimonopoly Committee. Yesterday, the Rada also voted to promote Olga Pishchanska to chair of the Antimonopoly Committee. She had been the first deputy head of the Committee until two weeks ago, when Zelenskiy dismissed Yur...

Two surveys conducted before the July 1 central bank crisis indicate worsening consumer and business outlooks. Two surveys conducted before the July 1 central bank crisis indicate worsening consumer and business outlooks.

The consumer sentiment index fell by 11 points in June, to 65 points on a 200-point scale The consumer sentiment index fell by 11 points in June, to 65 points on a 200-point scale. Info Sapiens, which carries out this monthly survey, reports these drops: economic expectations, down 19 poin...

Business expectations fell to their lowest level in five years Business expectations fell to their lowest level in five years, according to the National Bank’s latest quarterly survey of company executives. The second quarter level was 91%, a sharp drop from the ...

Ukraine’s cyber police blocked 947 cyber attacks on state entities last week. Of the attacks, 48% were ‘Brute Force’ attacks Ukraine’s cyber police blocked 947 cyber attacks on state entities last week. Of the attacks, 48% were ‘Brute Force’ attacks — hacking of a password by enumerating all possible key options; and ...

In one ‘brute force’ attack, a hacker was arrested last week and charged with breaking into 50 government data bases and trying to sell the information In one ‘brute force’ attack, a hacker was arrested last week and charged with breaking into 50 government data bases and trying to sell the information, reports Cointelegraph, citing Ukraine’s cyber p...

By the end of this year, Ukraine’s air travel will reach half the level of 2019 By the end of this year, Ukraine’s air travel will reach half the level of 2019, Infrastructure Minister Vladyslav Krykliy writes in NV.

Markets and investors largely welcomed the Rada’s approval yesterday morning of a new head of the central bank. Markets and investors largely welcomed the Rada’s approval yesterday morning of a new head of the central bank. In rapid fire sequence, Kyrylo Shevchenko, head of state-owned Ukrgasbank, first won app...

LOT Polish Airlines resumed flights Wednesday from Warsaw to Lviv and to Odesa LOT Polish Airlines resumed flights Wednesday from Warsaw to Lviv and to Odesa. For now, Ukrainians can only fly to Poland if they have valid work or study contracts, residence in the EU, or are in tr...

At the Rada podium, Shevchenko projected the image of a centrist. At the Rada podium, Shevchenko projected the image of a centrist. He defended inflation targeting of his predecessors, but signaled that he supports lower interest rates to support “further economic g...

Starting today, Ukrainians can enter Bulgaria without Covid tests Starting today, Ukrainians can enter Bulgaria without Covid tests and without self-isolation.

Ukraine’s mountain of nonperforming loans should be cut, said Shevchenko, a veteran of work at state-owned banks, first at Oschadbank Ukraine’s mountain of nonperforming loans should be cut, said Shevchenko, a veteran of work at state-owned banks, first at Oschadbank, then at Ukragasbank. Addressing the Rada, he broke down the share...

Citibank’s Ukraine Economics Flash writes: “ Citibank’s Ukraine Economics Flash writes: “Market participants should draw a deep sigh of relief given that some of the more controversial candidates have been avoided… A sudden stop with the n...

Concorde Capital’s Alexander Paraschiy writes Concorde Capital’s Alexander Paraschiy writes: “It’s not clear whether Shevchenko will be able to withstand expected pressure from the cabinet and the president to radically ease monetary policy, or e...

Thursday, July 16

Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. “The hotel will get a second life – the hotel will function,” pre...

Zelenskiy and other government officials hailed the sale of the 12-story Dnipro as the start of Ukraine’s “big” privatization – state companies worth over $10 million Zelenskiy and other government officials hailed the sale of the 12-story Dnipro as the start of Ukraine’s “big” privatization – state companies worth over $10 million. “Big privatization has sta...

The Hotel Ukraina, overlooking the Maidan, is to be the next state-owned hotel to go up for sale The Hotel Ukraina, overlooking the Maidan, is to be the next state-owned hotel to go up for sale. First, government lawyers have to break several legal “poison pills” that make the property unattracti...

During the first half of this year, a period that includes the height of the coronavirus lockdown, Ukraine’s exports of goods were down 6% yoy, and imports were down 12% yoy. During the first half of this year, a period that includes the height of the coronavirus lockdown, Ukraine’s exports of goods were down 6% yoy, and imports were down 12% yoy. The trade deficit shrivel...

With Gazprom moving to finish Nord Stream 2 gas line by the end of this year, Washington is preparing harsher sanctions in an effort to stop the project. With Gazprom moving to finish Nord Stream 2 gas line by the end of this year, Washington is preparing harsher sanctions in an effort to stop the project. “Get out now, or risk of the consequences,” US...

On July 9, Denmark’s Energy Agency approved that Gazprom’s request to complete the last 120 km of the pipeline using Russia’s anchor-stabilized pipelaying ship. On July 9, Denmark’s Energy Agency approved that Gazprom’s request to complete the last 120 km of the pipeline using Russia’s anchor-stabilized pipelaying ship. The agency says that in that section of...

The 26 nations of Europe’s Schengen Area will remain closed to Ukrainians for “the nearest future,” The 26 nations of Europe’s Schengen Area will remain closed to Ukrainians for “the nearest future,” Ukraine’s Foreign Minister Dmytro Kuleba tells segodnya.ua news site. The reason: Ukraine’s new coro...

Ukraine will extend its COVID-19 quarantine at least until September, Ukraine will extend its COVID-19 quarantine at least until September, Health Minister Maksym Stepanov tells RBK-Ukraine. In Kyiv, measures could be kept in place until the end of next year, Oleh Ruban...

Due to high coronavirus levels in Israel and Ukraine, Ukraine will not permit the annual pilgrimage of 30,000 Hasidic Jews to Uman, Cherkasy Due to high coronavirus levels in Israel and Ukraine, Ukraine will not permit the annual pilgrimage of 30,000 Hasidic Jews to Uman, Cherkasy. Normally, the pilgrimage would take place two months from ...

Ukrzaliznytsia has resumed half of its pre-quarantine passenger train service Ukrzaliznytsia has resumed half of its pre-quarantine passenger train service, reports Ivan Yurik, acting chairman of the state railroad. Currently, UZ runs 65 long-distance trains and 700 suburban tr...

UIA currently uses eight of its 35 aircraft UIA currently uses eight of its 35 aircraft, Sergey Fomenko, UIA commercial director, tells the Center for Transportation Strategies. Of the fleet, six Boeings are in long term storage, the rest are b...

The Rada will debate this morning President Zelenskiy’s nomination of Kyrylo Shevchenko, to be the next governor of National Bank of Ukraine. The Rada will debate this morning President Zelenskiy’s nomination of Kyrylo Shevchenko, to be the next governor of National Bank of Ukraine. A lifelong banker in Kyiv, Shevchenko, aged 47, has run st...

UNIAN news agency UNIAN news agency describes Shevchenko as a state banker who would pursue two goals of President Zelenskiy – an expansionary monetary policy and closer relations with the President. Last fall, Shevche...

The Rada is expected to approve Shevchenko. The Rada is expected to approve Shevchenko. But it is unclear if he will have the character to stand up to oligarchs who want their bankrupt banks back. In face of pressure that included death threats...