newsintheukrain

Friday, August 21

China strengthens its position as Ukraine’s top trading partner, with $6.6 billion in bilateral trade in the first half of 2020 China strengthens its position as Ukraine’s top trading partner, with $6.6 billion in bilateral trade in the first half of 2020, according to the State Statistics Service. For perspective, bilateral t...

Ukraine’s exports to South Korea grew by 89% to $252 million in the first half of 2020 Ukraine’s exports to South Korea grew by 89% to $252 million in the first half of 2020, reports the State Statistics Service.

The Cabinet of Ministers canceled a 1992 agreement with the Russia regarding mutual trade representatives The Cabinet of Ministers canceled a 1992 agreement with the Russia regarding mutual trade representatives, according to the government. “To stop the agreement between the government of Ukraine a...

Ukraine’s central bank has established “flexible” guidelines for the restructuring of debt assumed by green energy producers. Ukraine’s central bank has established “flexible” guidelines for the restructuring of debt assumed by green energy producers. The National Bank of Ukraine website writes: “The NBU has provided for a p...

The central bank simplifies the banking charter process. The central bank simplifies the banking charter process. The NBU website: “The regulator has reduced the number of documents that must be submitted by banks for approval by managers. Now the process o...

Monetary policy targets an annual inflation rate of 5% Monetary policy targets an annual inflation rate of 5%, reports Ukrinform, citing the NBU.

Oschadbank plans to auction off non-performing loan portfolios starting in autumn 2020 Oschadbank plans to auction off non-performing loan portfolios starting in autumn 2020, reports Interfax Ukraine. In the first half of this year this state bank wrote off $800 million in non performin...

Thursday, August 20

SAS resumed flights yesterday between Oslo and Boryspil. SAS resumed flights yesterday between Oslo and Boryspil. Last October, flights resumed after an 8-year break. But this new service lasted only five months, until corona controls forced suspension of t...

Wizz started flights last weekend between Italy and Lviv Wizz started flights last weekend between Italy and Lviv. The discount airline now flies between Lviv and Rome Ciampino and between Lviv and Milan Malpensa.

SkyUp, Ukraine’s discount airline, starts flights Oct. 25 between Belgrade and Kyiv Boryspil. SkyUp, Ukraine’s discount airline, starts flights Oct. 25 between Belgrade and Kyiv Boryspil. In Southeast Europe, the carrier currently operates regular flights to Albania’s Tirana, and Bulgari...

The Cabinet of Ministers is allocating $4 million in an effort to finally complete the long overdue and long over budget Odesa runway project, The Cabinet of Ministers is allocating $4 million in an effort to finally complete the long overdue and long over budget Odesa runway project, Prime Minister Shmygal said yesterday. Separately, in a l...

Sweden’s Embracer Group is paying $36 million to acquire Ukraine’s 4A Games. Sweden’s Embracer Group is paying $36 million to acquire Ukraine’s 4A Games. Founded by three Ukrainian developers in Kyiv in 2006, 4A Games has grown to have 150 employees between Kyiv and the compan...

Norwegian and Austrian investors plan to invest $1 billion in Zaporizhia to build one of Europe’s largest data centers and a hydrogen production plant Norwegian and Austrian investors plan to invest $1 billion in Zaporizhia to build one of Europe’s largest data centers and a hydrogen production plant, next to the Dnipro hydroelectric power plant. H2...

How Ukrainian startups can attract investment from European venture capital firms How Ukrainian startups can attract investment from European venture capital firms will be the theme Sept. 2 of a webinar hosted on Zoom by Adam Smith Conferences. With the participation of leading Eur...

In Dnipropetrovsk region, River Wind Ukraine plans to build wind and solar power plants with a total capacity of 4 GW on Kakhovka Reservoir In Dnipropetrovsk region, River Wind Ukraine plans to build wind and solar power plants with a total capacity of 4 GW on Kakhovka Reservoir, the regional government reports. Billed as Ukraine’s ‘first...

Borys Paton, the Ukrainian engineer who chaired the National Academy of Sciences for 58 years, has died in Kyiv at 101. Borys Paton, the Ukrainian engineer who chaired the National Academy of Sciences for 58 years, has died in Kyiv at 101. Paton became director of the Yevhen Paton Institute of Electric Welding in 1953,...

Germany’s Nordex will supply 34 wind turbines for the first phase of the Franco-Norwegian wind farm on Lake Syvash Germany’s Nordex will supply 34 wind turbines for the first phase of the Franco-Norwegian wind farm on Lake Syvash, reports Novii Vizit, a regional Kherson news site. The turbine model — N131 / ...

Witkowitz, a Czech manufacturer of machine-building equipment, plans to invest €50 million in Dnipro’s in Yuzhny Machine Building Plant. Witkowitz, a Czech manufacturer of machine-building equipment, plans to invest €50 million in Dnipro’s in Yuzhny Machine Building Plant. Based in the coal and steel region of Moravia-Silesia, Witkowit...

In the government’s latest musical chairs, Andriy Pavlovsky is the new acting head of Customs – the third to hold the post in a year. In the government’s latest musical chairs, Andriy Pavlovsky is the new acting head of Customs – the third to hold the post in a year. The outgoing head of Customs, Igor Muratov, was fired for the same...

A radical simplification of customs is the goal of legal package drawn up this summer by A radical simplification of customs is the goal of legal package drawn up this summer by Mikheil Saakashvili’s National Reforms Council. This fall, the Rada is expected to pass the changes, including ...

Highlights are: Highlights are:

Concorde Capital’s Concorde Capital’s Zenon Zawada writes: “Customs is notoriously difficult to deal with, having created enormous lines at border crossings for as long as can be remembered. Saakashvili’s customs propos...

Ukraine reported a record 1,967 new Covid-19 cases yesterday morning Ukraine reported a record 1,967 new Covid-19 cases yesterday morning, says Health Minister Maksym Stepanov. “Covid is gaining momentum,” warns the Minister. “We have seen this tendency for the last mo...

Concorde Capital’s Zenon Zawada writes: Concorde Capital’s Zenon Zawada writes: “The situation is getting worse, with the authorities remaining remarkably silent (out of concern for losing poll ratings ahead of the October elections). Hospi...

With the EU showing no sign of lowering its corona barriers to Ukrainians, UIA is cancelling its flights this fall to 11 EU cities and to Tbilisi, Georgia With the EU showing no sign of lowering its corona barriers to Ukrainians, UIA is cancelling its flights this fall to 11 EU cities and to Tbilisi, Georgia. The EU cities are: Budapest, Copenhagen, Fra...

Wednesday, August 19

Schools will open as scheduled Sept. 1, Health Minister Maksym Stepanov promises. Schools will open as scheduled Sept. 1, Health Minister Maksym Stepanov promises. Online learning will be mandatory only in the nation’s ‘Red Zones.’ Currently these are three towns and five districts...

With local elections coming in two months With local elections coming in two months, politicians have no appetite for a return to the severe lockdown of last spring. Concorde Capital’s Zenon Zawada writes: “The Zelenskiy administration has la...

Orthodox Jewish pilgrims are asked to refrain from visiting Uman next month to celebrate Rosh Hashanah Orthodox Jewish pilgrims are asked to refrain from visiting Uman next month to celebrate Rosh Hashanah, “due to the threatening epidemiological situation,” according to a joint statement by Israel and...

Returning to the air after coronavirus travel curbs, UIA had to “ Returning to the air after coronavirus travel curbs, UIA had to “start practically from scratch,” to rebuild business, airline president Yevgeny Dykhne writes on Facebook. From mid-June to mid-August,...

Marta Kolomayets, American director of the Fulbright Program in Ukraine for seven years, died Sunday Marta Kolomayets, American director of the Fulbright Program in Ukraine for seven years, died Sunday at the age of 61 after a long illness. As the local head of Fulbright, she helped more than 300 Ukr...

Ferrexpo Poltava Mining marked this month half a billion tons of iron ore concentrate produced since the mine opened 50 years ago Ferrexpo Poltava Mining marked this month half a billion tons of iron ore concentrate produced since the mine opened 50 years ago. “The first ton of concentrate was produced in 1970, and after 50 year...

Ukraine is to raise up to €250m in two loans from Cargill Financial Services, Ukraine is to raise up to €250m in two loans from Cargill Financial Services, the Cabinet of Ministers reported Monday. The loans are to be: three years at 5.95% and five years at 6.85%. One year ago,...

Concorde Capital’s Alexander Paraschiy writes of the new loans Concorde Capital’s Alexander Paraschiy writes of the new loans: “The conditions under Cargill’s private loan look close to market rates, taking into account that Ukraine’s public six-year debt (EUR-de...

The Finance Ministry raised The Finance Ministry raised the equivalent of $91 million in its weekly government bond auction yesterday – one quarter the $366 million raised one week earlier. Highlights were: 6-month hryvnia bonds...

Due to the corona-recession, state budget revenues are $1.4 billion below plan for the first half of this year, Due to the corona-recession, state budget revenues are $1.4 billion below plan for the first half of this year, Valery Patskan, chairman of the Accounting Chamber, writes on Facebook. About 37% of the...

Watching “the sharp aggravation of the situation in the Republic of Belarus Watching “the sharp aggravation of the situation in the Republic of Belarus,” President Zelenskiy said after a security council meeting Monday night: “The events in this country could significantly af...

Pre-election populism at the Rada. Pre-election populism at the Rada. President Zelenskiy vetoed a bill that would extend through the end of next year the moratorium on foreclosures for foreign currency mortgage loans. Why? The way the...

Banda, a leading Ukrainian ad agency, is opening an office in California, Banda, a leading Ukrainian ad agency, is opening an office in California, its first office outside of Kyiv. Yaroslav Serdyuk, the agency’s co-founder and strategy director, writes on Facebook from Cal...

France’s MSL public relations company is opening an office in Kyiv, strengthening parent company Publicis Groupe’s presence in Ukraine France’s MSL public relations company is opening an office in Kyiv, strengthening parent company Publicis Groupe’s presence in Ukraine. The new office will be led by Olena Sukhanova, a 9-year veteran ...

The founders of Nova Poshta are investing in Fedoriv Agency’s Kooperativ co-working space The founders of Nova Poshta are investing in Fedoriv Agency’s Kooperativ co-working space at 23 Sichovykh Striltsiv, Kyiv. The investors, Viacheslav Klimov and Volodymyr Popereshniuk, plan to convert ...

With Ukraine reporting record levels of new Covid-19 infections – about 1,600 a day for the last week With Ukraine reporting record levels of new Covid-19 infections – about 1,600 a day for the last week – Kyiv is mildly tightening restrictions this week. Everyone is to carry an ID on the street. Mask...

Tuesday, August 18

In a sign the Corona-recession has eased, Ukraine’s electricity consumption in July was only 0.7% below last year’s level In a sign the Corona-recession has eased, Ukraine’s electricity consumption in July was only 0.7% below last year’s level, according to Ukrenergo, the nation’s state power transmission company. Indust...

The central bank expects to receive the second tranche from the IMF by the end of this year, The central bank expects to receive the second tranche from the IMF by the end of this year, Kyrylo Shevchenko, the new governor of the National Bank of Ukraine, says in an interview with RBK-Ukraina....

Last week, the central bank bought $223 million, strengthening the hryvnia mildly to UAH 27.3/$1. Last week, the central bank bought $223 million, strengthening the hryvnia mildly to UAH 27.3/$1. So far this year, the National Bank of Ukraine has bought $1 billion more than it sold, latest data sh...

Last year, Ukrainians made 26 million trips out of the country, while foreigners made 15 million trips here Last year, Ukrainians made 26 million trips out of the country, while foreigners made 15 million trips here, according to the State Statistics Service. Tourism accounts for only 1.5% of Ukraine’s GDP,...

Reminder: UIA is offering two direct Kyiv-New York-Kyiv flights Reminder: UIA is offering two direct Kyiv-New York-Kyiv flights – next Monday Aug. 24, and the following Monday, Aug. 31. No additional New York flights are scheduled. Tickets only are available throu...

For Ukraine, the biggest impact of strikes spreading across Belarus may be a shortage of asphalt for President Zelenskiy’s $3 billion drive to pave 4,000 km of highways this year. For Ukraine, the biggest impact of strikes spreading across Belarus may be a shortage of asphalt for President Zelenskiy’s $3 billion drive to pave 4,000 km of highways this year. Ukraine imports half...

Ukraine also gets about one third of its diesel and gasoline from Belarus Ukraine also gets about one third of its diesel and gasoline from Belarus. But the strikes and slowdowns will only result in a ‘hiccup’ for Ukrainian prices, Kuyun predicts. “First, we have been livin...

Most of Ukraine’s imports of Belarus petroleum products come from the Belarus’ largest refinery, in Mazyr Most of Ukraine’s imports of Belarus petroleum products come from the Belarus’ largest refinery, in Mazyr, on the Pripyat River, 250 km north of Kyiv. According to Argus Media, it appears that Mazyr w...

On the IT front, Ukrainian IT companies are “already accepting individual divisions of IT companies in Belarus as guests,” On the IT front, Ukrainian IT companies are “already accepting individual divisions of IT companies in Belarus as guests,” Olha Kunichak, manager of the European Business Association’s IT Committee te...