kyivbusiness

Friday, August 28

Noting that foreigners currently account for 60% of UIA’s passengers, UIA said yesterday it is cancelling flights in September Noting that foreigners currently account for 60% of UIA’s passengers, UIA said yesterday it is cancelling flights in September between Kyiv and Athens, Barcelona, Berlina, Chisinau, Delhi, Geneva and ...

Starting Tuesday, Ukrainians can only enter Belarus with a foreign passport Starting Tuesday, Ukrainians can only enter Belarus with a foreign passport, reminds Ukraine’s Border Guard Service. A similar rule went into effect six months ago for travel to Russia. The government...

In an open letter signed by more than 2,500 Belarusian IT CEOs, investors and developers, democratic normalcy is essential for the future of the industry in Belarus. Otherwise, In an open letter signed by more than 2,500 Belarusian IT CEOs, investors and developers, democratic normalcy is essential for the future of the industry in Belarus. Otherwise, they warn: “In the near...

Japanese-owned tech company Rakuten Viber has closed its office last week in Minsk Japanese-owned tech company Rakuten Viber has closed its office last week in Minsk. San Francisco-based Rakuten CEO Djamel Agaoua cited violence against employees in Minsk. Kharkiv and other Ukrainian...

The day before he was to fly to Ukraine, a former US The day before he was to fly to Ukraine, a former US Army Green Beret captain was arrested and accused Friday of spying for Russia for the last 15 years. Peter Rafael Dzibinski Debbins, aged 45, had r...

Last spring, Debbins taught a webinar for Ukrainian-American Concordia University. Last spring, Debbins taught a webinar for Ukrainian-American Concordia University. He was billed as an instructor for Cyber Intelligence Initiative of Washington’s Institute for World Politics. The co...

Russia’s Gamaredon hacking group has prepared “ Russia’s Gamaredon hacking group has prepared “a large coordinated attack on government agencies and critical infrastructure” by sending out email attachments infected with malware, Ukraine’s National...

So far this year, one million cases of cyber threats — So far this year, one million cases of cyber threats — website attacks, DDoS attacks, phishing and malicious software – have been recorded by the National Coordination Center for Cybersecurity, ...

The Zelenskiy government is tripling the number of state companies protected from privatization – to 659 The Zelenskiy government is tripling the number of state companies protected from privatization – to 659. The Cabinet of Ministers approved the new list Wednesday. It will now go to the Rada. Last yea...

Former Georgian President Mikheil Saakashvili, a major free market force in the Zelenskiy government, announced yesterday that he is returning home to Georgia Former Georgian President Mikheil Saakashvili, a major free market force in the Zelenskiy government, announced yesterday that he is returning home to Georgia, reports Georgia Online. “I know that we ...

Appointed three months ago to serve as chairman of Ukraine’s National Reform Council Appointed three months ago to serve as chairman of Ukraine’s National Reform Council, Saakashvili felt the push of anti-reformers in the Zelenskiy government and the lure of Oct. 31 parliamentary elec...

In Tbilisi, In Tbilisi, Thea Tsulukiani, Georgia’s Justice Minister since 2012, promised to prepare a jail cell for the former president. In 2018, Saakashvili was convicted in absentia in two trials on charges st...

The standoff between Belarus’ long-running ruler and mass opposition may soon cripple the finances of Ukraine’s northern neighbor and fourth largest trading partner. The standoff between Belarus’ long-running ruler and mass opposition may soon cripple the finances of Ukraine’s northern neighbor and fourth largest trading partner. In the last week, the Belarusian r...

President Zelenskiy believes the current one-month-old ceasefire in the Donbas can be extended into a lasting peace by the end of this year. President Zelenskiy believes the current one-month-old ceasefire in the Donbas can be extended into a lasting peace by the end of this year. “I want to believe that it will be this year,” he tells Eur...

Strikes are affecting three of four key state companies — fertilizer makers Belaruskali and Grodno Azot and oil refineries Naftan and Mozyr. They account for two thirds of Belarus’ exports to the West. Strikes are affecting three of four key state companies — fertilizer makers Belaruskali and Grodno Azot and oil refineries Naftan and Mozyr. They account for two thirds of Belarus’ exports to th...

Zelenskiy also asks European leaders to spell out the steps for Ukraine to join the EU. Zelenskiy also asks European leaders to spell out the steps for Ukraine to join the EU. “I asked many European leaders this question – what do you want Ukrainians to do, step by step, to become ...

Thursday, August 27

Passenger transport volume was down 41% yoy in July Passenger transport volume was down 41% yoy in July, reports ICU. In cities, transport was at 70-80% of last year’s levels. But rail was 38% of 2019 levels and air was only 18% of July 2019.

Retail turnover was up 8.5% yoy in July Retail turnover was up 8.5% yoy in July. However, wholesale trade fell by 6% yoy after the surge by 12% yoy in June, according to ICU.

Alfa-Bank Ukraine writes Alfa-Bank Ukraine writes: “Retail trade provides a strong positive surprise in July. The sector accelerated to a growth of 8.5% y-o-y, already close to its pre-COVID trajectory. For comparison, we exp...

The Finance Ministry placed UAH 816 million ($29.8 million) in 3-month local currency bonds at 7% and $31 million in 12-month hard currency bonds at 3.5%. The Finance Ministry placed UAH 816 million ($29.8 million) in 3-month local currency bonds at 7% and $31 million in 12-month hard currency bonds at 3.5%.

Concorde Capital’s Evgeniya Akhtyrko writes of Tuesday’s weekly auction: “ Concorde Capital’s Evgeniya Akhtyrko writes of Tuesday’s weekly auction: “The local bond market is in its traditional summer vacation lethargy. However, there is no guarantee that the next month will ...

Prime Minister Denis Shmygal pledges $328 million more for Ukraine’s “5-7-9% affordable loan program” to prop up small businesses Prime Minister Denis Shmygal pledges $328 million more for Ukraine’s “5-7-9% affordable loan program” to prop up small businesses, the head of government announced on Facebook. He writes: “Small busin...

President Zelenskiy pledges support for Yuzhmash, the state-owned machine-building company that manufactures products for defense, aviation, agriculture, thermal power, and space industries. President Zelenskiy pledges support for Yuzhmash, the state-owned machine-building company that manufactures products for defense, aviation, agriculture, thermal power, and space industries. Visiting ...

Construction on Dnipro airport’s new 3,000 meter runway will start next month, President Zelenskiy said Construction on Dnipro airport’s new 3,000 meter runway will start next month, President Zelenskiy said yesterday on a visit to the city. Reviewing the tender schedule, he said: “I am sure that by the...

Ukraine pays one of the highest electricity prices in Europe Ukraine pays one of the highest electricity prices in Europe, according to the EU — €46.9 per MWh, while the European average was €33.5 per MWh. Countries paying the most are: Greece at €50 per ...

Industrial output is down 4.8% yoy in July Industrial output is down 4.8% yoy in July, according to the State Statistics Service. This represents a slight improvement from the 5.6% yoy drop recorded in June.

Ukraine shuts its borders to foreign travelers for one month, starting tomorrow night at midnight. Ukraine shuts its borders to foreign travelers for one month, starting tomorrow night at midnight. The major exceptions are: foreigners with Ukraine residence permits, diplomats, travelers in transit,...

Food production is up 4.6% yoy in July Food production is up 4.6% yoy in July, according to the State Statistics Service.

Ukraine’s Health Ministry has expanded its list of ‘red zone’ coronavirus countries to 65 Ukraine’s Health Ministry has expanded its list of ‘red zone’ coronavirus countries to 65, adding Albania and Montenegro. Red zone countries have a 14-day infection rate higher than Ukraine’s le...

NBU board chairman Bohdan Danylyshyn says he thinks the disbursement of two tranches from the IMF in 2020 is unrealistic NBU board chairman Bohdan Danylyshyn says he thinks the disbursement of two tranches from the IMF in 2020 is unrealistic, Ukrinform reports. “Obviously, the baseline scenario of receiving two tr...

With Ukraine’s schools scheduled to open on Tuesday, President Zelenskiy warned families to take precautions, noting that his 7-year-old son, Kyrylo, was hospitalized last month for coronavirus complications With Ukraine’s schools scheduled to open on Tuesday, President Zelenskiy warned families to take precautions, noting that his 7-year-old son, Kyrylo, was hospitalized last month for coronavirus compli...

At the same time, Danylyshyn says “cooperation with the IMF will continue. Support from international partners remains one of the most important factors of macrofinancial stability in Ukraine. At the same time, Danylyshyn says “cooperation with the IMF will continue. Support from international partners remains one of the most important factors of macrofinancial stability in Ukraine. T...

Law enforcement authorities in Chernivtsi, one of the country’s hardest hit red zones, decide to suspend the operation public transport Law enforcement authorities in Chernivtsi, one of the country’s hardest hit red zones, decide to suspend the operation public transport, according to Ukrinform citing Deputy Mayor of Chernivtsi Dmytro...

Ukrbud’s unfinished construction problems are “basically resolved Ukrbud’s unfinished construction problems are “basically resolved,” said Interior Minister Arsen Avakov. “The issue of Ukrbud is practically resolved, and I thank the city authorities and our colleagu...

Adamant Capital writes : “Although Ukraine is currently displaying the highest amount of new cases on record, it seems unlikely that restrictions similar to those that have been introduced at the start of the pandemic are g...

Volodymyr Zhmak will be the new CEO of Ukrainian Railways, the nation’s largest employer and a major economic player, Volodymyr Zhmak will be the new CEO of Ukrainian Railways, the nation’s largest employer and a major economic player, the Cabinet of Ministers announced yesterday. Zhmak was previously a member of the...

Wednesday, August 26

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...