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Friday, March 5

Remittances from Ukrainians working abroad are expected to grow by 8%, to $13 billion this year Remittances from Ukrainians working abroad are expected to grow by 8%, to $13 billion this year, Geletiy said. For the last two years, remittance averaged $12 billion, or $1 billion a month. Labor is ...

Ukrainians relentlessly move away from cash Ukrainians relentlessly move away from cash, indicates a National Bank of Ukraine report for card and contactless payments. Last year, the number of transactions with payment cards jumped 25% yoy, to ...

Highlights Highlights:

With new coronavirus cases doubling this week, With new coronavirus cases doubling this week, Prime Minister Shmygal warned yesterday: “It’s obvious that the third wave of the pandemic has started that Ukraine is facing.” Yesterday morning, 10,057...

The new cases are largely in Kyiv and to the West The new cases are largely in Kyiv and to the West: Zhytomyr Oblast – 888; Kyiv City – 868; Vinnytsia Oblast – 827; Ivano-Frankivsk Oblast – 776; and Zakarpattia – 676. Ukraine’s first two cases ...

Ukraine plans to become a major producer of lithium batteries for Europe’s electric cars Ukraine plans to become a major producer of lithium batteries for Europe’s electric cars, Prime Minister Shmygal told reporters yesterday, reviewing talks he had in Brussels last month. By 2030, Europ...

Coal miners may become lithium miners Coal miners may become lithium miners under a pilot project to start closing two coal mines this year, one in Lviv and the other in Donetsk, the Prime Minister. With German and Polish advice and aid, ...

Turkey and Ukraine are on the final stretch for finalize a bilateral free trade agreement Turkey and Ukraine are on the final stretch for finalize a bilateral free trade agreement, Shmygal told reporters. Of the long-delayed agreement, he said: “Literally, last week and this week the free ...

In a new twist on the Motor Sich drama, David Arakhamia, the head of Servant of the People faction in the Rada In a new twist on the Motor Sich drama, David Arakhamia, the head of Servant of the People faction in the Rada, said yesterday he will submit a bill to nationalize the Zaporizhia-based aircraft engine...

Navigation will resume next week on the Dnipro River, two months after closing for ice Navigation will resume next week on the Dnipro River, two months after closing for ice, reports Port of Ukraine. All locks on the Dnipro cascade – from the Kyiv Sea to the Black Sea – are to re-open W...

Although last year’s Dnipro shipping season was six weeks longer than usual, cargo dropped 5% yoy, to 11 million tons Although last year’s Dnipro shipping season was six weeks longer than usual, cargo dropped 5% yoy, to 11 million tons. “Results of cargo transportation were influenced by the reduction in grain transp...

With traffic jams clogging Kyiv’s Dnipro bridges, the City Council is studying restoring boat service across the river. With traffic jams clogging Kyiv’s Dnipro bridges, the City Council is studying restoring boat service across the river. According to Kiev Vlast, the River Port Administration calculates that 2,000 peo...

Fearing inflation, Ukraine’s central bank hikes the prime rate to 6.5% today, the first increase in two years. Fearing inflation, Ukraine’s central bank hikes the prime rate to 6.5% today, the first increase in two years. The hike ends a post-Independence low of 6%, which reigned since June.

In January-February, Ukrainians imported 53,000 used cars, 4.4 times the volume of the first two months of 2019 In January-February, Ukrainians imported 53,000 used cars, 4.4 times the volume of the first two months of 2019. Used imports, a rarity four years ago, now account for 81% of car imports, reports Ukra...

“We are responding to inflation beyond the target range of 5%,” Kateryna Rozhkova, “We are responding to inflation beyond the target range of 5%,” Kateryna Rozhkova, first deputy governor of the National Bank of Ukraine, wrote yesterday on Facebook. The bank predicts inflation will ...

More hikes could come this year, More hikes could come this year, Yuriy Geletiy, a deputy governor of the central bank, told reporters yestrerday. “The National Bank is ready to raise the discount rate more decisively to limit the fu...

In the first two months of this year, foreign holdings of Ukraine government bonds increased by $570 million In the first two months of this year, foreign holdings of Ukraine government bonds increased by $570 million, Geletiy told reporters yesterday. As of Monday, foreign holdings totaled $3.65 billion. He...

Monday, January 4

With new US sanctions on Nord Stream 2 made final by Friday’s vote in the US Senate With new US sanctions on Nord Stream 2 made final by Friday’s vote in the US Senate, the Norwegian company, Det Norske Veritas (DNV) GL announced Saturday that it will not be able to certify the $11.6...

“ “Russia Pushes Ahead on Europe Gas Link Before U.S. Sanctions,” headlines a Bloomberg story posted Thursday, the day before the US Senate vote. With 150 km of the 1,230 km pipeline left to be laid, No...

“US imposes new sanctions to kill off Putin’s pet pipeline,” “US imposes new sanctions to kill off Putin’s pet pipeline,” headlines an Atlantic Council piece by Diane Francis, posted Saturday. “It means almost certain doom for Putin’s most important energy proj...

Russia cut its volume of gas pumped across Ukraine by 38% in 2020 Russia cut its volume of gas pumped across Ukraine by 38% in 2020, compared to the previous year. Although Gazprom pumped 55.8 billion cubic meters through Ukraine’s east-west pipeline system, Russia’...

In reverse In reverse, gas transportation from Europe to Ukraine hit almost 16 bcm last year, 12% more than in 2019 and 27% more than the annual average for 2016-18. About 10 bcm went into storage as 52 Ukrainia...

Serbian President Serbian President Aleksandar Vučić opened Friday Serbia’s 403 km extension of the Balkan Stream natural-gas pipeline, AP reports from Belgrade. Fuel for the line comes from Anapa, Russia, and then flo...

Pumped from the Tristar Ruby, a US cargo of LNG from Cove Point, Maryland inaugurated last weekend Croatia’s first liquefied natural gas landing terminal Pumped from the Tristar Ruby, a US cargo of LNG from Cove Point, Maryland inaugurated last weekend Croatia’s first liquefied natural gas landing terminal at Krk, an island in the northern Adriatic. PO...

Separately, Azeri gas has started moving through the new Separately, Azeri gas has started moving through the new Trans Adriatic Pipeline, Interfax-Azerbaijan reports from Baku, citing Azerbaijan’s Energy Ministry. This 878 km pipeline picks up Azeri gas fr...

Tomasz Fiala, CEO of Dragon Capital, and Ivan Svitek, former Chairman of Alfa Bank Ukraine, have signed an agreement to buy Unex Bank from Vadim Novinsky’s Smart Holding Tomasz Fiala, CEO of Dragon Capital, and Ivan Svitek, former Chairman of Alfa Bank Ukraine, have signed an agreement to buy Unex Bank from Vadim Novinsky’s Smart Holding. “The Antimonopoly Commi...

To prevent a strengthening of the hryvnia, the central bank bought a net $335.5 million on the interbank market in December. To prevent a strengthening of the hryvnia, the central bank bought a net $335.5 million on the interbank market in December. By contrast, during the whole year, the bank bought a net $1.1 billion, rep...

Ukraine’s minimum wage increased Friday by $35, $212 per month Ukraine’s minimum wage increased Friday by $35, $212 per month. On Dec. 1, it increases to $230. With the minimum wage largely used to calculate pensions, Ukraine’s average monthly wage is $480.

Real wages were up 8% yoy in November Real wages were up 8% yoy in November, reports the State Statistics Service. Nationally, the average nominal wage was $404. In Kyiv, the wage was 54% higher — $622. Nationwide, the biggest regio...

Despite the global economic recession, Ukraine’s trade deficit dropped in half last year Despite the global economic recession, Ukraine’s trade deficit dropped in half last year, from $10.22 billion to $4.9 billion in 2020, Taras Kachka, Ukraine’s Trade Representative, wrote on Facebook. ...

Despite a poor harvest, exports of the top three grains – corn, wheat and barley – were down only 2.3% yoy in dollar terms Despite a poor harvest, exports of the top three grains – corn, wheat and barley – were down only 2.3% yoy in dollar terms, to $9.4 billion for 2020. “Due to the reduction in the harvest, physical exp...

Tuesday, August 25

Prime Minister Shmygal says he expects Ukraine will receive the second tranche by the end of this year Prime Minister Shmygal says he expects Ukraine will receive the second tranche by the end of this year. Some economic analysts say the IMF switched to observation mode after President Zelenskiy unexpe...

International reserves reached a new high this month at $28.8 billion International reserves reached a new high this month at $28.8 billion, according to the National Bank of Ukraine. Boosted by the IMF tranche, this is the highest level in eight years.

Mykolaiv’s shipbuilding industry is to be revived with a government program designed to create 25,000 new jobs Mykolaiv’s shipbuilding industry is to be revived with a government program designed to create 25,000 new jobs, President Zelenskiy and David Arakhamia, leader of the Servant of the People Rada, promi...

The government promises “a national program to support shipbuilding, cheaper credit resources,” The government promises “a national program to support shipbuilding, cheaper credit resources,” Arakhamia said. Later on Friday, Oleh Uruskyi, Minister for Strategic Industries visited the Okean shipy...

Business education for combat veterans and soft loans for veteran-owned startups are government priorities Business education for combat veterans and soft loans for veteran-owned startups are government priorities, President Zelenskiy said during an International Volunteer and Veterans Forum in Kyiv. “It&#...

With the minimum monthly wage set to rise to $182 (UAH 5,000) next Tuesday, Zelenskiy says the budget can “definitely support” the hike With the minimum monthly wage set to rise to $182 (UAH 5,000) next Tuesday, Zelenskiy says the budget can “definitely support” the hike. On July 1, the minimum wage is to increase by 30%, to UAH 6,500...

Grain sales were down 18% yoy in July, Grain sales were down 18% yoy in July, reports UNIAN citing the Ministry of Economic Development, Trade and Agriculture. Due to bad weather, much of the harvest is late.

Steelmaker ArcelorMittal has transferred 50 million tons of slag to the government for the national road construction program Steelmaker ArcelorMittal has transferred 50 million tons of slag to the government for the national road construction program, reports Interfax-Ukraine, citing the company. Earlier this year, Arcelor ...

Interpipe, Ukraine’s largest pipe and wheel producer, will redeem at par 97 million of its 2024 notes this week Interpipe, Ukraine’s largest pipe and wheel producer, will redeem at par 97 million of its 2024 notes this week, according to the company.

IKEA Ukraine plans to offer 5,000 items in its first physical store in Kyiv IKEA Ukraine plans to offer 5,000 items in its first physical store in Kyiv, says Florian Melle, Ukraine director of Ikea. He said: “A city-format store will open in Kyiv without a food department and...

Energy traders imported 345,000 megawatts of electricity in the first quarter of 2020 Energy traders imported 345,000 megawatts of electricity in the first quarter of 2020, reports NERC. The imported electricity was from Slovakia, Hungary, Romania and Belarus.

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.

Passenger transport is down 56.2% y-o-y Passenger transport is down 56.2% y-o-y, reports the State Statistics Service. Rail was down 58.2%. Motor transport was down by 44.3%.

There have been no combat losses in the eastern regions for the past 29 days There have been no combat losses in the eastern regions for the past 29 days, Zelenskiy said during his Independence Day speech. “A year ago, I talked about how every morning starts with an SMS messag...

The IMF has yet to set a date for the review of the Standby Agreement, a review that was to be in September. The IMF has yet to set a date for the review of the Standby Agreement, a review that was to be in September. IMF Ukraine representative Goesta Ljungman tells Hromadske that while “discussions on the i...

Ukraine received in June a first $2.1 billion tranche Ukraine received in June a first $2.1 billion tranche of what is to be a $5 billion loan program.