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Tuesday, August 11

As rail freight volumes recover, Ukrzaliznytsia carried 25.2 million tons in July, only 3% less than the tonnage carried in July 2019, As rail freight volumes recover, Ukrzaliznytsia carried 25.2 million tons in July, only 3% less than the tonnage carried in July 2019, reports Rail.Insider news site. Volumes have increased steadily s...

Ukrainian farmers have harvested 33 million tons of grain and legumes, one third of this year’s forecast crop. Ukrainian farmers have harvested 33 million tons of grain and legumes, one third of this year’s forecast crop. Farmers have threshed 23 million tons of wheat, 87% of the forecast crop, and 8 million t...

Ukraine’s forecast bumper crop for corn may run into geopolitical barriers as the US makes record corn sales – totaling 3.7 million tons — to China Ukraine’s forecast bumper crop for corn may run into geopolitical barriers as the US makes record corn sales – totaling 3.7 million tons — to China, warns AgWeek, the Fargo, North Dakota-based n...

Monday, August 10

Increasingly popular are contactless and tokenized cards Increasingly popular are contactless and tokenized cards. In June, almost 10 million contactless cards were used, up 25.6% since January. In June, 2.7 million tokenized cards were in use, up 22.5% fro...

Ukraine is moving to introduce green finance standards in the country, with a focus on green bonds. Ukraine is moving to introduce green finance standards in the country, with a focus on green bonds. The World Bank’s IFC signed a cooperation agreement on green finance Friday with Ukraine’s National ...

Jason Pellmar, IFC’s Regional Manager, said: Jason Pellmar, IFC’s Regional Manager, said: “IFC’s extensive global experience has proven that investments providing environmental benefits are not only more ecologically sustainable but also more co...

Ukraine’s Commission recently joined the Sustainable Banking Network — a group of regulatory agencies and banking associations from 40 emerging markets committed to advancing sustainable finance. Ukraine’s Commission recently joined the Sustainable Banking Network — a group of regulatory agencies and banking associations from 40 emerging markets committed to advancing sustainable finance. The ...

UIA only plans to return to regularly scheduled flights to New York, Toronto and Delhi in April, UIA only plans to return to regularly scheduled flights to New York, Toronto and Delhi in April, according to Evgeny Dykhne, president of Ukraine’s largest airline. He says: “As governmental restricti...

Kyiv Boryspil passenger traffic was down 80% yoy in July, Kyiv Boryspil passenger traffic was down 80% yoy in July, to 328,667, from 1.6 million in July 2019. Hubbing, a key component of UIA’s model, was wiped out. Last month, the airport recorded 3,146 tran...

US criminal charges against Ihor Kolomoisky could follow last week’s civil forfeiture complaints by the US Department of Justice US criminal charges against Ihor Kolomoisky could follow last week’s civil forfeiture complaints by the US Department of Justice, speculate Concorde Capital and the Kyiv Post. “Given that they [Kolomo...

Ukrzaliznytsia is doubling the frequency of Kyiv’s ‘train-to-the-plane’, the Boryspil Express. Ukrzaliznytsia is doubling the frequency of Kyiv’s ‘train-to-the-plane’, the Boryspil Express. The train now travels 12 times a day between central Kyiv and Ukraine’s largest airport. The ride takes 4...

Igor Kolomoisky rejects Igor Kolomoisky rejects US Justice Department allegations that he and his partners bought office buildings and steel mills in the US property as part of a “conspiracy to launder money embezzled and fr...

The US moves seem to come partly in response to last month’s purge of bank reformers from the National Bank of Ukraine The US moves seem to come partly in response to last month’s purge of bank reformers from the National Bank of Ukraine. In 2016, faced with a $5.5 billion hole at Kolomoisky’s bank, PrivatBank, the Ce...

Zawada writes: Zawada writes: “These accusations offer added insurance that Kolomoisky will not regain control over Privatbank. We believe they mark the peak of Kolomoisky’s influence in Ukraine, which will wane onc...

Timothy Ash writes from London: Timothy Ash writes from London: “With recent moves against the reform team at the NBU, the US Government might have reached the conclusion that if they don’t move now, then the risk is the whole domes...

Oleksiy Shaban has been named a Deputy Governor of the National Bank of Ukraine Oleksiy Shaban has been named a Deputy Governor of the National Bank of Ukraine, giving Kyrylo Shevchenko, the new Governor, a majority on the central bank board. Shaban worked as director of the bank...

Timothy Ash writes from London: Timothy Ash writes from London: “The new Governor Shevchenko is now fully in charge at the NBU…The IMF is signaling they will want to take some time to assess the changes at the NBU and give She...

The use of payment cards jumped 17% yoy during the first half of this year in Ukraine, The use of payment cards jumped 17% yoy during the first half of this year in Ukraine, to 2.74 billion transactions, reports the National Bank of Ukraine. The size of the average transaction edged up ...

As Ukrainians shifted rapidly to cashless transactions, As Ukrainians shifted rapidly to cashless transactions, the number of cash transactions with cards – largely withdrawals from ATM machines – dropped by 12% during the first half of this year.

During the first half, the number of point of sale terminal increased by 5%. During the first half, the number of point of sale terminal increased by 5%. The number of issued cards also increased by 5%, to 71.7 million, or two for every Ukrainian.

Friday, August 7

South Korea’s export credit agency, the Export-Import Bank of Korea, is providing $36 million in financing South Korea’s export credit agency, the Export-Import Bank of Korea, is providing $36 million in financing to a joint venture between Posco International, Korea’s largest trading company, and OR...

Over the last decade, 14 million tons of simultaneous storage capacities have been commissioned in Ukraine, raising the total to 51 million tons, about half of this year’s forecast crop. Over the last decade, 14 million tons of simultaneous storage capacities have been commissioned in Ukraine, raising the total to 51 million tons, about half of this year’s forecast crop. About one thi...

Most of the new construction has been in central Ukraine, in five oblasts responsible for 35% of the nation’s grain production: Poltava, Vinnitsa, Chernihiv, Cherkasy and Kirovohrad. Most of the new construction has been in central Ukraine, in five oblasts responsible for 35% of the nation’s grain production: Poltava, Vinnitsa, Chernihiv, Cherkasy and Kirovohrad. “With clima...

KMZ Industries, grain storage and processing equipment manufacturer, expects sales to increase by 60% yoy KMZ Industries, grain storage and processing equipment manufacturer, expects sales to increase by 60% yoy, the company tells Interfax-Ukraine. With 42 projects underway, Valery Kalashnik, company gene...

Sales of new commercial vehicles, a key indicator of business activity, were up 11% in July yoy. Sales of new commercial vehicles, a key indicator of business activity, were up 11% in July yoy. The July figure of 1,163 was 53% higher than June, reports Ukravtoprom.

Planning to build 2,900 km of cement roads by 2025 Planning to build 2,900 km of cement roads by 2025, Oleksandr Kubrakov, head of Ukravtodor argues: “Concrete roads should be cheaper in Ukraine because we import 60% of bitumen, but cement is domestic...

The US Justice Department moved yesterday to seize commercial properties in Kentucky and Texas from Igor Kolomoisky and his business partner, Gennadiy Boholyubov The US Justice Department moved yesterday to seize commercial properties in Kentucky and Texas from Igor Kolomoisky and his business partner, Gennadiy Boholyubov, reports The Washington Post. In a civ...

The civil asset forfeiture cases seek to seize a 19.5-acre office park in Dallas and the PNC Plaza building in Louisville, Kentucky. The civil asset forfeiture cases seek to seize a 19.5-acre office park in Dallas and the PNC Plaza building in Louisville, Kentucky. The Justice Department alleges that Kolomoisky and Boholyubov used ...

Separately, U.S. attorney’s office in Cleveland is investigating Kolomoisky for possible money laundering. Separately, U.S. attorney’s office in Cleveland is investigating Kolomoisky for possible money laundering. As a part of that case, the FBI raided on Tuesday two Kolomoisky offices in the US, one in Cl...

Timothy Ash ties the US Government moves this week to the removal last month of the 2014-2019 bank clean up team from National Bank of Ukraine: Timothy Ash ties the US Government moves this week to the removal last month of the 2014-2019 bank clean up team from National Bank of Ukraine: “The USG looks like it has seen enough in terms of risks...

Norway’s NBT plans to invest €1.6 billion in Ukraine over the next year Norway’s NBT plans to invest €1.6 billion in Ukraine over the next year, Joar Viken, the company CEO, told President Zelenskiy yesterday. NBT is investing €1.2 billion to build Zophia, an 800 MW wind ...

China Gezhouba Group Corporation is interested in building hydro projects in Ukraine China Gezhouba Group Corporation is interested in building hydro projects in Ukraine, Ukraine’s Ambassador to China, Serhiy Kamyshev said after meeting the company’s chairman Lyu Zexiang. The contract...

In the wake of the massive ammonium nitrate explosion in the port of Beirut, Ukraine, a major importer and consumer of fertilizers, is to tighten up its handling of this potentially hazardous product In the wake of the massive ammonium nitrate explosion in the port of Beirut, Ukraine, a major importer and consumer of fertilizers, is to tighten up its handling of this potentially hazardous product....

Andrey Stavnitser, CEO of TIS, a major Odesa region port terminal, said his father, Aleksey, stopped handling ammonium nitrate in 2008 for safety reasons. Andrey Stavnitser, CEO of TIS, a major Odesa region port terminal, said his father, Aleksey, stopped handling ammonium nitrate in 2008 for safety reasons. Andrey Stavnitser wrote on Facebook that TIS ...

Ukraine’s largest nitrogen fertilizer producer, Dmytro Firtash’s Ostchem Holding, released a statement yesterday saying the company follows “international standards” for safety and production. Ukraine’s largest nitrogen fertilizer producer, Dmytro Firtash’s Ostchem Holding, released a statement yesterday saying the company follows “international standards” for safety and production. “Import...

Renaisco BV, a Dutch subsidiary of Glencore International, has won Ukrainian government permission to acquire a majority stake in Avery, one of Ukraine’s leading vegetable oil exporting complexes Renaisco BV, a Dutch subsidiary of Glencore International, has won Ukrainian government permission to acquire a majority stake in Avery, one of Ukraine’s leading vegetable oil exporting complexes. Own...

Thursday, August 6

On China’s interest in Ukraine’s defense industries On China’s interest in Ukraine’s defense industries: “Years of corruption and mismanagement have pushed Ukrainian defense firms to the brink of collapse. This neglect has made Ukraine’s hard-earned in...

China’s “Skyrizon negotiated cooperation in the field of aircraft engines with DCH Group (Ukraine) and came to an agreement,” China’s “Skyrizon negotiated cooperation in the field of aircraft engines with DCH Group (Ukraine) and came to an agreement,” Xinwei Group’s Skyrizon reported yesterday on the Shanghai Stock Exchange ...

Shabo, the Odesa region winery, opened its third store in China last week Shabo, the Odesa region winery, opened its third store in China last week. With Shabo stores now in Fuzhou, Guangzhou and X’ian, the company plans to open a store next year in Shanghai, says Stanyslav...

Flights in Ukrainian airspace nearly tripled in July Flights in Ukrainian airspace nearly tripled in July, hitting 12,195, compared to 4,584 in June. But the July number is only one third the level of July 2019. Ukraine’s air traffic control agency deri...

For a nation of trucks loaded with grain, sturdy concrete roads represent the path to the future For a nation of trucks loaded with grain, sturdy concrete roads represent the path to the future, promised participants yesterday at a Concrete Roads conference in Kyiv. Noting that concrete roads hol...

Used car imports continue to flood into Ukraine. Used car imports continue to flood into Ukraine. In July, 34,300 used imports were registered for the first time, 17% more than in June, and 43% more than in July 2019. So far this year, 173,600 used ...

European gas traders have more than quadrupled the volume of natural gas they store in western Ukraine’s underground reservoirs, European gas traders have more than quadrupled the volume of natural gas they store in western Ukraine’s underground reservoirs, reports Ukrtransgaz. Offshore companies have parked 5.3 billion cubic m...

Ukrtransgaz has 11 underground gas storage facilities with a total capacity of 31 bcm – equal to the total storage capacity of Italy, France, Hungary and Austria combined. Ukrtransgaz has 11 underground gas storage facilities with a total capacity of 31 bcm – equal to the total storage capacity of Italy, France, Hungary and Austria combined. “The Ukrainian gas market ha...

Thanks to a new business — oil transshipments from Odesa to Belarus — Ukraine’s oil imports are up 142% for the first half of this year, Thanks to a new business — oil transshipments from Odesa to Belarus — Ukraine’s oil imports are up 142% for the first half of this year, compared to January-June 2019, reports Ukrtransnaft...

The massive blast that severely damaged Beirut’s port Tuesday destroyed 85% of the city’s grain silos The massive blast that severely damaged Beirut’s port Tuesday destroyed 85% of the city’s grain silos, leaving the country with a one-month supply of wheat. A warehouse filled with ammonium nitrate fe...

US government agencies may have slow walked approval of steel company sale in 2017, helping to sink 20% of the $1 billion that Ihor Kolomoisky and his partner Hennadiy Boholyubov had invested in the US, US government agencies may have slow walked approval of steel company sale in 2017, helping to sink 20% of the $1 billion that Ihor Kolomoisky and his partner Hennadiy Boholyubov had invested in the U...

President Trump’s nominee for ambassador to Ukraine, Lt. General ret. Keith W. Dayton, testified yesterday before the US Senate Foreign Relations Committee President Trump’s nominee for ambassador to Ukraine, Lt. General ret. Keith W. Dayton, testified yesterday before the US Senate Foreign Relations Committee. Here are highlights:

Recalling his first visit to Soviet Ukraine, in 1980, as a Russian-speaking US Army field artillery officer: Recalling his first visit to Soviet Ukraine, in 1980, as a Russian-speaking US Army field artillery officer: “The fundamental challenges remain the same: Ukraine seeks to rid itself of Moscow’s interf...

On challenges of building a modern, market economy: On challenges of building a modern, market economy: “Vested interests continue to resist reform— particularly, reform of the judicial and financial sectors. A strong, independent central bank has been...