newsaboutukraine

Tuesday, July 28

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%.

Monday, July 27

Nibulon aims to transport up to 5 million tons of river cargo this year, a 30% increase over the last July-June marketing year Nibulon aims to transport up to 5 million tons of river cargo this year, a 30% increase over the last July-June marketing year. During the year that ended in June, Nibulon carried 3.8 million tons, up...

The Ukrainian Danube Shipping Company reports on Facebook that someone stole 32 of its lighters, or small barges, worth a total of $5 million. The Ukrainian Danube Shipping Company reports on Facebook that someone stole 32 of its lighters, or small barges, worth a total of $5 million. The state company reports that two or three years ago, a ...

Li Jingyuan, vice president of the China Railway 14th Bureau Group Co., has signed an agreement with Li Jingyuan, vice president of the China Railway 14th Bureau Group Co., has signed an agreement with Igor Sheverdin, acting chief of Ukrvodshlyakh, or Ukraine Waterways, to develop Ukraine’s inland wa...

The Finance Ministry will use $846 million of last week’s $2 billion Eurobond placement to buy Eurobonds maturing in 2021 and 2022 The Finance Ministry will use $846 million of last week’s $2 billion Eurobond placement to buy Eurobonds maturing in 2021 and 2022, the Ministry reports. This about $100 million more than expected. Wi...

Energoatom, Ukraine’s state nuclear power company, has received a €100 million tranche of a loan from Euratom Energoatom, Ukraine’s state nuclear power company, has received a €100 million tranche of a loan from Euratom, the European Atomic Energy Community. Under agreements made in 2014, Euratom and the EBRD...

Privatbank says its former owners laundered $760 million in the US Privatbank says its former owners laundered $760 million in the US, according to an amended lawsuit filed last week in a Delaware court, reports RFE/RL. In the original lawsuit filed last year, the ne...

Skepticism about the Zelenskiy government’s ability to reform Ukraine Skepticism about the Zelenskiy government’s ability to reform Ukraine was the common theme of two articles in the Western press last weekend. “A hard road ahead for Zelenskiy in Ukraine: Sympathy for ...

New reported corona virus infections have averaged 1,000 a day in Ukraine since Friday, up 20% since the average of 800 during the first three weeks of July. New reported corona virus infections have averaged 1,000 a day in Ukraine since Friday, up 20% since the average of 800 during the first three weeks of July. Deaths have edged up to an average of 13 d...

The Health Ministry is allowing the Ukrainian Football Association to hold matches in stadiums filled to 25% of capacity. The Health Ministry is allowing the Ukrainian Football Association to hold matches in stadiums filled to 25% of capacity. In the case of Kyiv’s Dynamo Stadium, this means a maximum of 4,200 spectators...

Starting today, Austria will not allow entry of Ukrainians Starting today, Austria will not allow entry of Ukrainians – and citizens of 31 other countries with high corona infection rates, such as the US and Russia. Ukrainians with Austrian residence permits ...

With the EU travel restrictions stretching into August, UIA, Ukraine’s largest carrier is suspending service to some cities and cutting other flight frequencies to weekly. With the EU travel restrictions stretching into August, UIA, Ukraine’s largest carrier is suspending service to some cities and cutting other flight frequencies to weekly. Through Aug. 15, UIA flights...

French shipbuilder Ocea has signed a €136.5 million contract with Ukraine’s Border Guard Service to provide 20 fast patrol boats by 2023. French shipbuilder Ocea has signed a €136.5 million contract with Ukraine’s Border Guard Service to provide 20 fast patrol boats by 2023. Fifteen of the 32-meter boats will be built at Ocea’s Atlantic...

The international joint venture highlights Nibulon’s emergence as Ukraine’s most modern shipbuilder. The international joint venture highlights Nibulon’s emergence as Ukraine’s most modern shipbuilder. Oleksiy Vadaturskyi, Nibulon’s general director, said at the signing ceremony: “We are reviving the...

The EBRD is loaning Nibulon $27 million to maintain river cargo development projects and grain trading The EBRD is loaning Nibulon $27 million to maintain river cargo development projects and grain trading at a time of cash flow squeeze during the economic downturn caused by coronavirus. The financing ...

Nibulon launched its second harbor pusher tug last week, part of plan to build four over two years. Nibulon launched its second harbor pusher tug last week, part of plan to build four over two years. Equipped with powerful Scania engines, the 80-ton tugs are used for mooring and pushing 3,000 dead w...

Thursday, July 23

Investors desperate for yield drove the success of the placement. Investors desperate for yield drove the success of the placement. In addition, Kyrylo Shevchenko, the new governor of the National Bank of Ukraine, worked hard over the last week to persuade investors...

EU and Ukrainian officials signed documents in Brussels yesterday for a €1.2 billion loan to Ukraine EU and Ukrainian officials signed documents in Brussels yesterday for a €1.2 billion loan to Ukraine – almost half of total emergency aid that the European Commission is extending to 10 countries in t...

Although billed as coronavirus relief, the aid is tied to quantifiable progress on free market reforms: Although billed as coronavirus relief, the aid is tied to quantifiable progress on free market reforms: improving courts, increasing transparency of medical procurement, and improving corporate govern...

Police are treating as arson a fire that yesterday burned down the house of Vitaliy Shabunin, head of the Anti-Corruption Action Center Police are treating as arson a fire that yesterday burned down the house of Vitaliy Shabunin, head of the Anti-Corruption Action Center, an influential NGO. No one was injured, as the only people at h...

The central bank has sold $350 million since Tuesday, easing pressure on the hryvnia, The central bank has sold $350 million since Tuesday, easing pressure on the hryvnia, Dmitry Sologub a deputy governor of the National Bank of Ukraine, told reporters yesterday. “For me, there is no o...

Ukraine’s international reserves should hit $30 billion at the end of this year Ukraine’s international reserves should hit $30 billion at the end of this year and $32-33 billion in coming years, central bank governor Shevchenko said yesterday. On July 1, reserves were $28....

After cutting Ukraine’s prime interest rate for eight straight meetings, the central bank put on the brakes yesterday, keeping the key rate at 6%. After cutting Ukraine’s prime interest rate for eight straight meetings, the central bank put on the brakes yesterday, keeping the key rate at 6%. The majorities of economists surveyed by Bloomberg an...

Justifying the 6% rate, Justifying the 6% rate, the central bank predicts inflation is growing again and will hit 4.7% at the end of this year. It says inflation will be driven by higher energy prices and “soft monetary and ...

Prices increase as the economy contracts Prices increase as the economy contracts. Yesterday, the central bank slightly worsened its forecast for the GDP fall in 2020 – to 6%. It also slightly trimmed its 2021 growth forecast, to 4%.

Due to the opening this year of Turkish Stream, a Russian gas line bypassing Ukraine, the volume of Russian gas transiting Ukraine fell by 45% during the first half of this year, Due to the opening this year of Turkish Stream, a Russian gas line bypassing Ukraine, the volume of Russian gas transiting Ukraine fell by 45% during the first half of this year, compared to January-J...

The buyer of Kyiv’s Dnipro Hotel plans to invest $20 million to make it “the world’s first Esports Ready Hotel,” The buyer of Kyiv’s Dnipro Hotel plans to invest $20 million to make it “the world’s first Esports Ready Hotel,” he tells ain.ua news site. Alexander Kokhanovsky in partnership with Smartland, won the...

UIA is starting regular flights from Kyiv Boryspil to three countries on the Adriatic – Albania, Croatia, and Montenegro. UIA is starting regular flights from Kyiv Boryspil to three countries on the Adriatic – Albania, Croatia, and Montenegro. All three countries have relaxed corona controls for Ukrainian tourists. Each ...

Ukraine placed $2 billion of Eurobonds at 7.25% yesterday – more money at a lower rate than at the frustrated bond placement of three weeks ago. Ukraine placed $2 billion of Eurobonds at 7.25% yesterday – more money at a lower rate than at the frustrated bond placement of three weeks ago. On July 1, investors committed to buy $1.75 billion at ...

Churiy steps down at the end of his five-year term. Churiy steps down at the end of his five-year term. The bank credits him with: moving Ukraine to a floating foreign exchange rate; liberalizing foreign exchange by abolishing 40 restrictions; establis...

Today’s central bank exchange rate is 27.78 hryvnia / dollar. Today’s central bank exchange rate is 27.78 hryvnia / dollar. Over the last 10 days, the hryvnia has lost 3% of its value against the dollar. Two weeks ago, President Zelenskiy said he believes the ex...

Zelenskiy yesterday authorized central bank head Shevchenko and Finance Minister Serhiy Marchenko to sign a loan agreement with the European Union to borrow €1.2 billion Zelenskiy yesterday authorized central bank head Shevchenko and Finance Minister Serhiy Marchenko to sign a loan agreement with the European Union to borrow €1.2 billion. In May, the EU approved this ...

Honeywell and DTEK are joining forces to develop Ukraine’s first grid-scale energy storage system Honeywell and DTEK are joining forces to develop Ukraine’s first grid-scale energy storage system. In a pilot program, the US company will supply its 1 MW lithium-ion energy storage batteries for DTEK...

DTEK, Ukraine’s largest investor in renewable energy, faces a growing challenge of balancing energy supply and demand. DTEK, Ukraine’s largest investor in renewable energy, faces a growing challenge of balancing energy supply and demand. Emanuele Volpe, DTEK’s chief innovation officer, said yesterday: “The future of e...

The Cabinet of Ministers decided yesterday to create a Ministry for Strategic Industries. The Cabinet of Ministers decided yesterday to create a Ministry for Strategic Industries. The Minister will be Oleg Urusky. Last week, he was appointed deputy prime minister for Strategic Industries. ...

Ukraine’s industrial production dropped by 8.3% in the first half of this year Ukraine’s industrial production dropped by 8.3% in the first half of this year, compared to January-June 2019. The State Statistics Service reports that the biggest drops were: coal – 23%; ceramic bri...

Indicating that Ukraine is emerging from a horseshoe-shaped recession Indicating that Ukraine is emerging from a horseshoe-shaped recession, June industrial production was 4.1% higher than in May, reports the Statistics Service. In year-over-year terms, the monthly decl...

Retail sales are up 3% yoy in real terms for the first half of this year, reports the State Statistics Service Retail sales are up 3% yoy in real terms for the first half of this year, reports the State Statistics Service. In June, sales were up 8.8% in real terms over May. For the first half of this year, the...

Concorde Capital’s Evgeniya Akhtyrko writes: Concorde Capital’s Evgeniya Akhtyrko writes: “It was encouraging to see that retail recovered right after the restriction on retail trade was removed. The positive trends in trade might serve as the s...

COVID-19 quarantine restrictions are extended until the end of August, the Cabinet of Ministers decided yesterday. COVID-19 quarantine restrictions are extended until the end of August, the Cabinet of Ministers decided yesterday. Despite four months of restrictions of varying intensity, the number of newly identif...

With a new central bank governor in place, Ukraine returns today to the Eurobond market. With a new central bank governor in place, Ukraine returns today to the Eurobond market. Goldman Sachs International and J.P. Morgan led a global investment call yesterday for a 12-year bond. Three we...

Starting Aug. 1, Ukraine will be divided according to corona infection rates into four zones: green, yellow, orange and red. Starting Aug. 1, Ukraine will be divided according to corona infection rates into four zones: green, yellow, orange and red. In the coveted green zone, people will be able to: go to cinemas or theater...

Today, the two banks will help Ukraine launch an accelerated switch tender offer on Ukraine’s 2021 and 2022 notes for up to US$750 million. Today, the two banks will help Ukraine launch an accelerated switch tender offer on Ukraine’s 2021 and 2022 notes for up to US$750 million. In this offer, Goldman and J.P. Morgan act as Dealer Manager...

Bulgaria’s low cost carrier Voyage Air is starting flights between Ukraine and Varna, Bulgaria’s Black Sea resort Bulgaria’s low cost carrier Voyage Air is starting flights between Ukraine and Varna, Bulgaria’s Black Sea resort. On Friday, flights start from Kyiv Boryspil and on Monday from Lviv. SkyUp is droppin...

This morning, Ukraine’s central bank is expected to cut its key interest rate from 6%, according to a Reuters poll of 17 Ukrainian analysts. This morning, Ukraine’s central bank is expected to cut its key interest rate from 6%, according to a Reuters poll of 17 Ukrainian analysts. Of the analysts, seven expect a rate cut to 5.5%; four see ...

By this weekend, Ukrainians can fly domestically from Kyiv Boryspil, Kherson, Lviv and Odesa by showing their digital passports in their Diya app. By this weekend, Ukrainians can fly domestically from Kyiv Boryspil, Kherson, Lviv and Odesa by showing their digital passports in their Diya app. “Show the smartphone screen at the air security contr...