newsukraine

Monday, August 3

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...

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,...

Friday, July 31

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...

Military transport jets, notably the An-178, represent the most promising niche for Antonov, Military transport jets, notably the An-178, represent the most promising niche for Antonov, Abromavičius told Channel 24 last month, shortly after firing the head of the state aircraft maker. “Togeth...

Western standard corporate governance of state companies is a key demand of the IMF Western standard corporate governance of state companies is a key demand of the IMF under the $5 billion Standby Agreement reached last month. On Wednesday, the IMF’s representative to Ukraine decline...

Matteo Patrone, EBRD regional managing director on corporate governance reform: Matteo Patrone, EBRD regional managing director on corporate governance reform: “This is now a negative period in corporate governance reform. But I believe that this is a small pothole on a very long...

Timothy Ash writes from London: Timothy Ash writes from London: “The Zelenskiy team will need to work overtime to provide assurance to the IMF to keep the existing program on track. The IMF resident rep’s diplomatic response I think...

The Finance Ministry provides this x-ray of who bought the $2 billion Eurobond that settled yesterday: The Finance Ministry provides this x-ray of who bought the $2 billion Eurobond that settled yesterday: US – 48%; UK – 38%; and EU – 13%. The investors were: asset management funds – 81%; hedge funds –...

Ukraine reported yesterday morning a one day high of 1,197 new coronavirus cases. Health Minister Maksym Stepanov said 248 people had been admitted to hospital over the past day — also a record high. Ukraine reported yesterday morning a one day high of 1,197 new coronavirus cases. Health Minister Maksym Stepanov said 248 people had been admitted to hospital over the past day — also a record ...

Starting tomorrow, Ukraine will be divided into four quarantine zones — green, yellow, orange and red. Starting tomorrow, Ukraine will be divided into four quarantine zones — green, yellow, orange and red. “Kyiv will be in between the orange and red zones,” Oleh Ruben, head Food Safety and Consum...

Concorde Capital’s Zenon Zawada writes Concorde Capital’s Zenon Zawada writes: “We don’t expect the government to take any measures towards restrictions. The main issue is Ukrainians will remain forbidden to travel freely to the E.U. for t...

Starting today, Starting today, the EU graduates 11 new countries into its admission club. Ukraine, with its rising corona infection rate, did not make the cut. In two weeks, the EU again will review its list of nati...

Privatization of big state companies could bring $1 billion to national budget in coming years, Privatization of big state companies could bring $1 billion to national budget in coming years, Prime Minister Shmygal told the Cabinet of Ministers Wednesday. After a pause during the initial market ...

By the end of this year 780 state companies should be transferred to the agency responsible for privatizations, By the end of this year 780 state companies should be transferred to the agency responsible for privatizations, the State Property Fund, Dmytro Sennychenko, head of the Fund, tells the UBN. This would...

To attract foreign investors, Sennychenko, a former Ukraine director for Jones Lang LaSalle, has set up To attract foreign investors, Sennychenko, a former Ukraine director for Jones Lang LaSalle, has set up a bilingual Ukrainian-English website with ‘data rooms’ on each property up for sale. Sennychenk...

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...

Thursday, July 30

During the first half of this year, Ukraine surpassed the US to become the world’s 9th largest producer of pig iron, or crude iron, During the first half of this year, Ukraine surpassed the US to become the world’s 9th largest producer of pig iron, or crude iron, according to Worldsteel Association. Ukraine edged out the US becaus...

China’s hunger for Ukrainian iron helped Lemtrans boost cargo carried in the first half of this year by 26% yoy, China’s hunger for Ukrainian iron helped Lemtrans boost cargo carried in the first half of this year by 26% yoy, to 25 million tons. Lemtrans, Ukraine’s largest private operator of rail wagons, enjoye...

Revenue from Ukraine’s steel exports dropped by 17% in the first half of this year, Revenue from Ukraine’s steel exports dropped by 17% in the first half of this year, compared to the same January-June period last year. With revenues of $3.9 billion, metallurgical products accounted ...

US-based GE Steam Power has been selected by Ukraine’s AtomRemontServis to provide three years of maintenance for two of Ukraine’s four nuclear power plants, Rivne and Khmelnytsky. US-based GE Steam Power has been selected by Ukraine’s AtomRemontServis to provide three years of maintenance for two of Ukraine’s four nuclear power plants, Rivne and Khmelnytsky. “Through this new s...

The EBRD plans to lend Ukrposhta €53 million for a €102 million program to buy mobile post office vans for rural areas and to build automated sorting hubs for Kyiv, Lviv and Dnipro The EBRD plans to lend Ukrposhta €53 million for a €102 million program to buy mobile post office vans for rural areas and to build automated sorting hubs for Kyiv, Lviv and Dnipro. The European Inves...

Next year, the government plans to repair or rebuild 7,000 km of roads – two thirds more than this year Next year, the government plans to repair or rebuild 7,000 km of roads – two thirds more than this year, reports Alexander Kubrakov, head of Ukravtodor, the state highway agency. For comparison, the d...

In the worst outbreak of Covid-19 in Kyiv to date, the virus has swept through a crowded student dormitory at Kyiv Polytechnic Institute, infecting 87.5% of the 152 students living there In the worst outbreak of Covid-19 in Kyiv to date, the virus has swept through a crowded student dormitory at Kyiv Polytechnic Institute, infecting 87.5% of the 152 students living there. Of the 133 i...

With one month left for summer vacations, Egypt and Turkey are the only easy options for a vacation outside Ukraine. With one month left for summer vacations, Egypt and Turkey are the only easy options for a vacation outside Ukraine. Both countries do not require corona testing for arriving travelers. And passengers...

Travelers returning to Ukraine from Albania, Bulgaria, and Montenegro have to go into self-isolation Travelers returning to Ukraine from Albania, Bulgaria, and Montenegro have to go into self-isolation pending negative results of tests. Starting today, Ukrainians can only enter Bulgaria with a negati...

Ukraine’s economy will bounce back next year, recovering the losses of 2020, according to the government’s official 2021 macroeconomic economic forecast. Ukraine’s economy will bounce back next year, recovering the losses of 2020, according to the government’s official 2021 macroeconomic economic forecast. The economy will drop by 4.8% this year. Then,...

Passengers can now take coronavirus PCR tests at Kyiv Sikorsky airport. Passengers can now take coronavirus PCR tests at Kyiv Sikorsky airport. The testing point is next to the first-floor medical center of Terminal A. The test costs $60, results are emailed to passengers...

As a sequel to the government printing money to stimulate spending and investment, inflation will triple, As a sequel to the government printing money to stimulate spending and investment, inflation will triple, rising to 7.3% in December 2021, from 2.4% last month. The hryvnia will devalue 5% from curren...

UIA is adding two additional flights between Kyiv Boryspil and New York’s JFK in August UIA is adding two additional flights between Kyiv Boryspil and New York’s JFK in August. The flights leave Kyiv on 11:25 am on Monday mornings – Aug. 24 and Aug. 31. The jets fly back from JFK on Mond...

Bidding was weak for hryvnia bonds offered in the Finance Ministry’s weekly auction on Tuesday. Bidding was weak for hryvnia bonds offered in the Finance Ministry’s weekly auction on Tuesday. While two hryvnia bond offerings drew a total of five bids, there were 29 bidders for 1-year dollar bond...

Concorde Capital’s Evgeniya Akhtyrko writes: Concorde Capital’s Evgeniya Akhtyrko writes: “The larger financial community still sees high uncertainty related to the future trend of the hryvnia exchange rate…market players haven’t ruled out...

Last week, the National Bank of Ukraine sold $350 million to halt the slide of the hryvnia. Last week, the National Bank of Ukraine sold $350 million to halt the slide of the hryvnia. Today it trades at 27.7 to the dollar. Easing the demand for dollars and helping the hryvnia, most Ukrainian...

S&P upgraded yesterday the long-term credit rating of Ukrzaliznytsia to B- from CCC, reversing its downgrade of three months ago S&P upgraded yesterday the long-term credit rating of Ukrzaliznytsia to B- from CCC, reversing its downgrade of three months ago. Triggering the upgrade, Ukrainian Railways announced Monday that i...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy: “Sberbank debt restructuring is probably the most important event for Ukrainian Railways in 2020. Sberbank’s loans accounted for half of the total debt th...

Wednesday, July 29

The ‘Green Tariff’ law is now on the desk of President Zelenskiy, awaiting his signature. The ‘Green Tariff’ law is now on the desk of President Zelenskiy, awaiting his signature. Yesterday, a procedural block was lifted and Rada Chairman Dmytro Razumkov signed the bill. The law would cut ...

Air travel will return to 2019 levels in 2024, Air travel will return to 2019 levels in 2024, predicts the International Air Transport Association. World air travel was down 86.5% yoy in June, an improvement over the 91% drop in May. IATA said the...

Ukraine’s number of air passengers this year will be one third the level of 2019 Ukraine’s number of air passengers this year will be one third the level of 2019, predicts Infrastructure Minister Vladyslav Krikliy, who oversees transportation. Although flight frequencies have been...

To revive tourism, Egypt is cancelling tourist visa fees for Ukrainians and is limiting its resort hotel occupancies to 50%. To revive tourism, Egypt is cancelling tourist visa fees for Ukrainians and is limiting its resort hotel occupancies to 50%. Last year, 1.7 million Ukrainians – about 5% of the nation’s population – v...

Starting Saturday, Chinese tourists will be able to enter Ukraine visa-free for one 30-day period every six months. Starting Saturday, Chinese tourists will be able to enter Ukraine visa-free for one 30-day period every six months. President Zelenskiy says the goal is “to develop friendly relations between Ukraine ...

The EU will remain closed to most travel from Ukraine through mid-August The EU will remain closed to most travel from Ukraine through mid-August, according to the latest update of ‘Green zone’ countries – those with high coronavirus infection rates. The EU updates the tra...

Ukraine has grown to become the second largest supplier of organic food to the EU Ukraine has grown to become the second largest supplier of organic food to the EU, according to a new official report, ‘EU imports of organic agri-food products: key developments in 2019’. Ukraine is ...

UIA will offer three flights from Kyiv Boryspil to the US and back next week. UIA will offer three flights from Kyiv Boryspil to the US and back next week. On Monday and Friday morning, flights will leave Kyiv for New York’s JFK. The flights return to Kyiv the same day, taking ...

With half of the wheat threshed and three quarters of the barley harvested, Ukrainian farmers have harvested this summer 22 million tons of grain With half of the wheat threshed and three quarters of the barley harvested, Ukrainian farmers have harvested this summer 22 million tons of grain. This year’s harvest is expected to be 70 million tons...

Betting that EU travel restrictions will drop, Ryanair will start flights in October between Odesa and Athens and Barcelona. Betting that EU travel restrictions will drop, Ryanair will start flights in October between Odesa and Athens and Barcelona. With these flights, Ryanair will fly to 12 EU cities from Odesa. By March, ...

Kernel, Ukraine’s largest grain exporter, increased its grain exports by 30% yoy Kernel, Ukraine’s largest grain exporter, increased its grain exports by 30% yoy, to 7.9 million tons in the marketing year that ended in June. With this volume, Kernel handled 14% of Ukraine’s total ...

Two new airlines are being created in Ukraine: Bees Airline and Skhid-Zakhid (East-West), Two new airlines are being created in Ukraine: Bees Airline and Skhid-Zakhid (East-West), Evgeniy Khainatsky, the former SkyUp CEO, tells Turprofi, a Ukrainian tourism industry newssite. “After overco...