newsintheukrain

Wednesday, August 5

In “Feed and Rule,” an essay on In “Feed and Rule,” an essay on ZN site, Foreign Minister Kuleba says Ukraine’s new status of a food power allows it to gain “authority and influence on the world stage.” Noting that the coronavirus p...

In China, a move by a local unit of Sinograin to ban smartphones and cameras from its granaries has provoked national worries about levels of reserves In China, a move by a local unit of Sinograin to ban smartphones and cameras from its granaries has provoked national worries about levels of reserves. A cellphone video that showed moldy and dirty gr...

DCH, one of the largest investment groups in Eastern Ukraine, has reached a deal to develop airplane engine maker Motor Sich with Chinese investors DCH, one of the largest investment groups in Eastern Ukraine, has reached a deal to develop airplane engine maker Motor Sich with Chinese investors Skyrizon Aircraft Holdings Limited. Last year, the U...

The FBI raided offices yesterday of U.S. companies belonging to Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov in Cleveland and Miami The FBI raided offices yesterday of U.S. companies belonging to Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov in Cleveland and Miami, reports RFE/RL and Cleveland.com. “I can confirm tha...

No surprises at yesterday’s weekly auction of hryvnia No surprises at yesterday’s weekly auction of hryvnia domestic government bonds. The auction raised the equivalent of $370 million, slightly less than last week, the Finance Ministry reported on Faceb...

SkyUp, Ukraine’s discount airline, lost more than $30 million in the first half of this year SkyUp, Ukraine’s discount airline, lost more than $30 million in the first half of this year, the airline tells Interfax-Ukraine. During the first half of this year, SkyUp’s passenger count fell 15% y...

With the EU largely closed to Ukrainians, UIA has cancelled its flights to 10 cities for the rest of August With the EU largely closed to Ukrainians, UIA has cancelled its flights to 10 cities for the rest of August: Athens, Barcelona, Baku, Berlin, Chisinau, Frankfurt, Larnaca, Prague, Rome and Vienna. Ukr...

Turkish Airlines resumed its pre-lockdown network of flights from Istanbul to Ukraine Turkish Airlines resumed its pre-lockdown network of flights from Istanbul to Ukraine, with direct flights from the new Istanbul Airport to Kyiv, Kharkiv, Kherson, Lviv, Odesa and Zaporizhia. For Amer...

In the latest effort to rebuild the East, the European Investment Bank is planning to lend €100 million to Ukravtodor In the latest effort to rebuild the East, the European Investment Bank is planning to lend €100 million to Ukravtodor to finance almost two thirds of a road building project in government-controlled L...

August August drivers will encounter almost 400 speed cameras across Ukraine. In addition to 116 speed guns held by police, more than 250 stationary cameras are being activated, reports TSN.ua. During the we...

Flaunting the $8 speeding fine, one driver broke the speed limit 60 times in 50 days, Flaunting the $8 speeding fine, one driver broke the speed limit 60 times in 50 days, says Volodomyr Karavaev, chairman of the National Road Safety Forum. As a result, Rada deputies are discussing a b...

Ukraine is on track to reach this year the symbolic target of a Ukraine is on track to reach this year the symbolic target of a 100 million ton harvest of grain and oilseeds, predicts the Ukrainian Grain Association. This would be 2% higher than last year’s overal...

Ukraine harvested 27 million tons of grain from 48% of its sown area as of July 30 Ukraine harvested 27 million tons of grain from 48% of its sown area as of July 30, reports Successful Farming, an Iowa-based news site. This volume included 18.3 million tons of wheat, harvested from...

Kernel has doubled its grain exports in two years, becoming Ukraine’s largest grain exporter. Kernel has doubled its grain exports in two years, becoming Ukraine’s largest grain exporter. In the recently completed marketing year, Kernel exported 8 million tons, or 13.3% of Ukraine’s total grai...

With domestic consumption flat, exports are to increase by 5% this year, to 61 million tons With domestic consumption flat, exports are to increase by 5% this year, to 61 million tons. Increasingly seen as a world food power, Ukraine was second only to the US last year in grain exports. Ukra...

Tuesday, August 4

During the summer harvest season, 9 million Ukrainians – or half of the nation’s total work force — work in the EU During the summer harvest season, 9 million Ukrainians – or half of the nation’s total work force — work in the EU, according to Social Policy Ministry estimates cited by the Kyiv Post in an art...

Ukrainian workers increasingly want to settle in Poland Ukrainian workers increasingly want to settle in Poland, according to a new study by the National Bank of Poland. Of Ukrainians surveyed in Warsaw this summer, 52% want to stay for three years or more...

The number of job offers abroad for Ukrainians increased by 20% to 8,000 The number of job offers abroad for Ukrainians increased by 20% to 8,000, according to a popular job site analyzed by TSN.ua. “The greatest demand for Ukrainian workers continues to be in Poland, the ...

Estonia’s “strawberry war” had a messy ending after the government moved too late to allow Ukrainian workers into the Baltic country Estonia’s “strawberry war” had a messy ending after the government moved too late to allow Ukrainian workers into the Baltic country. Tons of the red berries rotted in the fields. Last Thursday, Wizza...

Munich-based FlixBus is aggressively expanding into Ukraine this summer offering new routes: Kyiv-Vilnius and Kyiv-Krakow-Prague. Munich-based FlixBus is aggressively expanding into Ukraine this summer offering new routes: Kyiv-Vilnius and Kyiv-Krakow-Prague. From Vilnius, travellers can connect to 12 other Baltic cities. Ukrain...

Speaking to business executives in Volyn, an oblast on the Polish border, President Zelenkiy said of the regional labor shortage Speaking to business executives in Volyn, an oblast on the Polish border, President Zelenkiy said of the regional labor shortage: “Until there are normal jobs, normal wages, there is nothing that can ...

The 5-7-9% lending program has extended $120 million in loans to 1,755 small businesses The 5-7-9% lending program has extended $120 million in loans to 1,755 small businesses, Yulia Kovaliv, Deputy Presidential Chief of Staff, said Monday. With the $68,400 the average loan size, 62% hav...

Volodomyr Kudritskiy was elected CEO of Ukrenergo by the state electricity transmission company’ Supervisory Board on Sunday. Volodomyr Kudritskiy was elected CEO of Ukrenergo by the state electricity transmission company’ Supervisory Board on Sunday. A five-year veteran of Ukrenergo, Kudritskiy previously worked for Ukrtran...

Since the start of this year, Ukrenergo’s ‘Guaranteed Buyer’ unit has paid for only 27% of the power it took from solar and wind producers Since the start of this year, Ukrenergo’s ‘Guaranteed Buyer’ unit has paid for only 27% of the power it took from solar and wind producers. For the last four months, this unit known as ‘GarPok,’ has o...

The EBRD will lend state gas producer UkrGazVydobuvannya €52 million to increase energy efficiency and to maintain gas production. The EBRD will lend state gas producer UkrGazVydobuvannya €52 million to increase energy efficiency and to maintain gas production. With a payback period up to 15 years, the interest rate is about 2.5%...

Next Monday, the long-delayed cross Danube ferry crossing will open between Isaccea, Romania, and Orlivka, Odesa region Next Monday, the long-delayed cross Danube ferry crossing will open between Isaccea, Romania, and Orlivka, Odesa region. For drivers between Odesa and Constanta, Romania, the ferry will cut out a 2-ho...

UIA has returned another Boeing 737-800 to the lessor, trimming its fleet to 33 planes. UIA has returned another Boeing 737-800 to the lessor, trimming its fleet to 33 planes. Of the 33, 14 Boeings are in storage – in Ukraine, Spain and the Czech Republic. UIA has 26 Boeings and seven Em...

Sandwiched between Guatemala and the Philippines, Ukraine has the world’s second most dependent economy on remittances from overseas workers Sandwiched between Guatemala and the Philippines, Ukraine has the world’s second most dependent economy on remittances from overseas workers, The Wall Street Journal reports, citing World Bank statist...

With barriers erected to block coronavirus, remittances worldwide will drop 20% this year, With barriers erected to block coronavirus, remittances worldwide will drop 20% this year, estimates Dilip Ratha, the World Bank’s lead economist on these money flows. The Journal writes: “That drop w...

Remittances of Ukraine’s labor migrants were down 8.5% in June yoy Remittances of Ukraine’s labor migrants were down 8.5% in June yoy, falling to $856 million, reports the National Bank of Ukraine. After a strong start to the year, remittance fell sharply in in April...

With Ukraine’s borders closed during the April-May peak of the lockdown, cross-border money flows via banks actually increased by 13% yoy With Ukraine’s borders closed during the April-May peak of the lockdown, cross-border money flows via banks actually increased by 13% yoy, Alfa-Bank Ukraine reports, citing Central Bank data. Similarl...

Monday, August 3

Reflecting shifting views on the hryvnia, the National Bank of Ukraine sold almost $500 million in July, after buying $1.15 billion in June. Reflecting shifting views on the hryvnia, the National Bank of Ukraine sold almost $500 million in July, after buying $1.15 billion in June. In early July, President Zelenskiy and leaders of his party...

“Ukraine’s New Central Bank Chief reigning in control of Board,” According to “Ukraine’s New Central Bank Chief reigning in control of Board,” According to Bloomberg, the recent departure of Central bank deputy governor, Serhiy Kholod, follows that of fellow deputy Oleh Churiy,...

Zelenskiy’s bad economics: Inflation and devaluation will not help Ukraine grow” Zelenskiy’s bad economics: Inflation and devaluation will not help Ukraine grow” headlines an Atlantic Council Ukraine Alert blog by Anders Aslund. “High inflation and depreciation will not stimulate ...

President Zelenskiy has signed the ‘Green Tariff’ bill, which cuts the tariff on solar electricity by 15% and on wind by 7.5%. President Zelenskiy has signed the ‘Green Tariff’ bill, which cuts the tariff on solar electricity by 15% and on wind by 7.5%. The new rates came into effect on Saturday, after a decision by the Natio...

The new law also provides for energy auctions, and requires renewable energy producers to take responsibility for power balancing by 2022. It has set a 18-month schedule for Ukrenergo to pay back bills to solar and wind producers. Whilst The new law also provides for energy auctions, and requires renewable energy producers to take responsibility for power balancing by 2022. It has set a 18-month schedule for Ukrenergo to pay back bill...

Under a Under a new color-coded corona map of Ukraine, the Health Ministry colors green all of eastern and central Ukraine, including Kyiv. Green means masks in public transport, stores and shopping centers a...

The map comes as Ukraine recorded 1,000 new infections a day for the last week The map comes as Ukraine recorded 1,000 new infections a day for the last week. Deputy Health Minister Viktor Lyashko predicts that this year 400,000 people in Ukraine will eventually become infected ...

Up to 8,000 Jewish Orthodox pilgrims are expected to converge on Uman in mid-September for the annual Rosha Hashanah pilgrimage Up to 8,000 Jewish Orthodox pilgrims are expected to converge on Uman in mid-September for the annual Rosha Hashanah pilgrimage, reports The Jerusalem Post. Contradicting reports from Uman, Ukraine’s ...

Austrian Airlines resumed flights yesterday between Vienna and Kyiv Boryspil. Austrian Airlines resumed flights yesterday between Vienna and Kyiv Boryspil. Under new rules, Kyiv passengers arriving at Vienna International Airport have to take a Covid-19 test at the airport. The...

SkyUp, Ukraine’s two-year-old low cost carrier unveils ambitious plans: SkyUp, Ukraine’s two-year-old low cost carrier unveils ambitious plans: 90% punctuality in 2021, addition of 5-7 more jets by 2022, and 50% market share of Ukraine’s air market in 2025. Taking advanta...

Chinese cars bucked a trend, recording 20% more sales in Ukraine Chinese cars bucked a trend, recording 20% more sales in Ukraine during the first half of the year. Overall, new car sales were down 4% during the first half, compared to January-June last year. Chine...

To ease Kyiv’s growing traffic jams, the city is opening park and ride lots near six Metro stations. To ease Kyiv’s growing traffic jams, the city is opening park and ride lots near six Metro stations. Planning for a total of 2,000 parking spaces, the first lot is already open for 193 cars next to th...

Ukraine’s economy shrank by 11% yoy during the second quarter, midway between the EU’s drop of 12.1% and the US drop of 9.5%. Ukraine’s economy shrank by 11% yoy during the second quarter, midway between the EU’s drop of 12.1% and the US drop of 9.5%. The National Bank of Ukraine estimates that during the current quarter, th...

According to the Central Bank, Farming is expected to be the largest sector of the economy that has been least affected by quarantine restrictions According to the Central Bank, Farming is expected to be the largest sector of the economy that has been least affected by quarantine restrictions. Food accounts for almost half of Ukraine’s exports. ...

By doubling spending on road construction, the government averted a steep drop in the construction sector By doubling spending on road construction, the government averted a steep drop in the construction sector during the first half of this year, according to Oleksiy Blinov, Economist for Alfa-Bank Ukrai...

The quarantine pushed business from cash to cards. The quarantine pushed business from cash to cards. Non-cash card transactions increased to 55%, up from 50% before mid-March. This was reported on the Central Bank Facebook page. With the increasing u...

Friday, July 31

Following the sale of the Dnipro, the Fund is putting up two regional hotels up for auction. Following the sale of the Dnipro, the Fund is putting up two regional hotels up for auction. The high end Slovyanskyi Hotel in Novgorod-Siversky, Chernihiv region has a starting price of $2 million. S...

Next week’s lot of Next week’s lot of 34 ‘small privatization’ properties is the usual mixed bag of abandoned properties dating back to the Soviet era. Scattered across 15 regions, they range from a half-finished distil...

Aivaras Abromavičius, head of Ukroboronprom, is signaling he is ready to move on. Aivaras Abromavičius, head of Ukroboronprom, is signaling he is ready to move on. Noting that he took the job running the state arms conglomerate last August, he told a Kyiv School of Economics roundt...