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Tuesday, December 15

The government promises to pay this week $50 million in back wages owed to coal miners across the country The government promises to pay this week $50 million in back wages owed to coal miners across the country, ruling party Rada Member Vasyl Mokan promised yesterday. About one quarter of the debt is owe...

Foreign shipping companies will be allowed to carry cargo up and down the Dnipro, Foreign shipping companies will be allowed to carry cargo up and down the Dnipro, under legislation approved by the Rada recently with President Zelenskiy’s backing. The goal is to triple annual river...

Ukrainians spent about $150 million last year to buy 3,200 apartments in Poland, making Ukrainians the largest foreign investor group in Polish residential real estate. Ukrainians spent about $150 million last year to buy 3,200 apartments in Poland, making Ukrainians the largest foreign investor group in Polish residential real estate. The calculations were made by G...

Low oil prices have saved Ukraine $3 billion so far this year Low oil prices have saved Ukraine $3 billion so far this year, reports the State Customs Service. Through November, Ukraine oil import bill is down 36%, while the import volume is down only 5.6%. The ...

Ukraine’s power plants reduced their coal consumption by 32% through October and increased their gas use by 31% Ukraine’s power plants reduced their coal consumption by 32% through October and increased their gas use by 31%, reports Expro.com, citing Energy Ministry numbers. Coal consumption fell to 14.1 millio...

Ukraine is gradually phasing out the use of coal Ukraine is gradually phasing out the use of coal, President Zelenskiy told a UN-sponsored gathering on Saturday, the International Climate Ambition Summit. Promising a “fair transformation of the coal...

Monday, December 14

Ukraine’s offering of dollar Eurobonds was three times oversubscribed Friday, Ukraine’s offering of dollar Eurobonds was three times oversubscribed Friday, causing the Finance Ministry to raise the final volume by 20%, to $600 million, and to push the rate down to 6.2%, one ful...

Tomorrow’s auction of government hryvnia bonds should draw more foreign buyers, analysts predict Tomorrow’s auction of government hryvnia bonds should draw more foreign buyers, analysts predict. Last week saw an uptick of foreign buying — $79 million – breaking a fall in foreign holdings si...

The World Bank approved Friday night a $300 million loan to help “prevent The World Bank approved Friday night a $300 million loan to help “prevent around 1 million Ukrainians from falling into poverty due to the COVID-19 pandemic,” the Bank’s Board of Executive Directors r...

The EBRD’s new loans to Ukraine projects will hit €750-850 million this year, The EBRD’s new loans to Ukraine projects will hit €750-850 million this year, a ‘big increase’ over the average of the last four years, Matteo Patrone, EBRD managing director for Eastern Europe and th...

Ukraine is to receive $250 million in US military aid under a defense spending bill approved Friday by the U.S. Senate in a 84-13 vote. Ukraine is to receive $250 million in US military aid under a defense spending bill approved Friday by the U.S. Senate in a 84-13 vote. Earlier in the week, the House of Representatives approved the b...

Ukraine plans to transfer all of the nation’s seaports to concessions or private ownership by 2025 Ukraine plans to transfer all of the nation’s seaports to concessions or private ownership by 2025, Infrastructure Minister Vladyslav Krikliy told an online international investment conference Friday....

By 2022, the government plans to reach concession agreements for highways, airports, rail stations and other infrastructure facilities By 2022, the government plans to reach concession agreements for highways, airports, rail stations and other infrastructure facilities, Prime Minister Shmygal said at the conference, which was organiz...

In the first half of next year, the State Property Fund plans to start the privatization of the United Mining and Chemical Company, the First Kyiv Machine-Building Plant (formerly Bolshevik), and stakes in six regional power companies, In the first half of next year, the State Property Fund plans to start the privatization of the United Mining and Chemical Company, the First Kyiv Machine-Building Plant (formerly Bolshevik), and stak...

Ukraine will receive – free of charge — enough Covid-19 vaccines to vaccination 4 million people this spring Ukraine will receive – free of charge — enough Covid-19 vaccines to vaccination 4 million people this spring, Ukraine’s Chief Sanitary Doctor Viktor Liashko wrote Saturday on Facebook. In additi...

Coronavirus hospitalizations jumped 25% in November, over October Coronavirus hospitalizations jumped 25% in November, over October, to 63,958 cases, reports Ukraine’s National Health Service. On Friday, deaths hit a record level — 285. New cases reported are ...

Due to Thursday afternoon’s ice storm, flights in and out of Kyiv’s two airports were disrupted through noon on Friday. Due to Thursday afternoon’s ice storm, flights in and out of Kyiv’s two airports were disrupted through noon on Friday. With Kyiv Sikorsky closed for several hours, Wizz Air cancelled two flights to G...

Friday, December 11

With its East-West gas pipelines, Ukraine would like to become a major supplier of hydrogen to Germany With its East-West gas pipelines, Ukraine would like to become a major supplier of hydrogen to Germany, Prime Minister Denys Shmyhal said Tuesday at the first German-Ukrainian Energy Day. “The develop...

Anka Feldhusen, Germany’s ambassador and host of the event, cautioned that Ukraine should first pay its $1 billion debt to wind and solar producers. Anka Feldhusen, Germany’s ambassador and host of the event, cautioned that Ukraine should first pay its $1 billion debt to wind and solar producers. One of 11 ambassadors to send a letter last month t...

In Ukraine, DTEK is the pioneer in the hydrogen energy field, becoming Ukraine’s first company to join Hydrogen Europe In Ukraine, DTEK is the pioneer in the hydrogen energy field, becoming Ukraine’s first company to join Hydrogen Europe, an association where European leaders exchange strategies and forge partnerships...

Ukraine’s central bank decided yesterday to keep the prime interest rate at 6%, Ukraine’s central bank decided yesterday to keep the prime interest rate at 6%, the level unchanged since June. Although inflation in November rose to 3.8%, the National Bank of Ukraine does not see i...

In a housecleaning exercise, the Cabinet of Ministers decided Wednesday to transfer 18 enterprises of the UkrOboronProm defense conglomerate to the State Property Fund for privatisation In a housecleaning exercise, the Cabinet of Ministers decided Wednesday to transfer 18 enterprises of the UkrOboronProm defense conglomerate to the State Property Fund for privatisation. With a total ...

The Russia-Ukraine military divorce deepened last week after Russian Helicopters accused Ukraine’s Motor Sich of performing “illegal” overhauls of Mil Mi-17 helicopters The Russia-Ukraine military divorce deepened last week after Russian Helicopters accused Ukraine’s Motor Sich of performing “illegal” overhauls of Mil Mi-17 helicopters for the Afghan Air Force, repor...

FlightGlobal, a US-based news site FlightGlobal, a US-based news site, recalls that last year, Ukraine’s Antonov sought to seize five An-124 cargo jets operated by Volga-Dnepr because the Russian air cargo company performed life extens...

The Black Sea Trade and Development Bank is extending at 9-year, €10 million loan to the Novopechersk School to build a new campus at Kyiv’s UNIT.City The Black Sea Trade and Development Bank is extending at 9-year, €10 million loan to the Novopechersk School to build a new campus at Kyiv’s UNIT.City, nearly tripling enrolment to 1,200 students. Zoy...

Parents of Kyiv’s French school are voting through Wednesday on an 18-month, €12 million project to build a 6,000 square meter unified campus at Unit.City. Parents of Kyiv’s French school are voting through Wednesday on an 18-month, €12 million project to build a 6,000 square meter unified campus at Unit.City. The project for Lycée Français Anne de Kiev ...

Ukrainians’ spending on foreign travel dropped in half this year, to $4.5 billion from $8.7 billion Ukrainians’ spending on foreign travel dropped in half this year, to $4.5 billion from $8.7 billion, Dmitry Sologub, a deputy governor of the National Bank of Ukraine, told reporters yesterday. “It wa...

Starting March 28, UIA promises to gradually, but “completely restore” its international route network Starting March 28, UIA promises to gradually, but “completely restore” its international route network, the airline says in a note posted on its siteyesterday. Ukraine’s flag carrier plans to restore ...

Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York, reports the US-based aviation news site, One Mile at a Time. The airline,...

Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year. In November, Kyiv’s right bank airport handled only 13% th...

Tuesday, December 8

Next year’s planned 30% hike in the minimum wage will be postponed five months, until Dec. 1 Next year’s planned 30% hike in the minimum wage will be postponed five months, until Dec. 1, Finance Minister Serhiy Marchenko confirms. The increase, to $228 a month, is being delayed to keep down i...

For the statistics-addicted, the State Statistics Service has launched a mobile application “Statistics in a smartphone.” For the statistics-addicted, the State Statistics Service has launched a mobile application “Statistics in a smartphone.” Oleg Nemchinov, Minister of the Cabinet of Ministers, says the new service off...

Ukraine is discussing with Turkey the joint creation of launch vehicles for commercial launches of satellites into space Ukraine is discussing with Turkey the joint creation of launch vehicles for commercial launches of satellites into space, Ukraine’s Strategic Industries Minister Oleg Urusky tells Radio Svoboda. Ukrai...

The prolonged coronavirus pandemic will stretch Ukraine’s economic recession through the winter The prolonged coronavirus pandemic will stretch Ukraine’s economic recession through the winter, Economy Minister Ihor Petrashko predicted yesterday. But after a 3% GDP yoy drop in the first quarter, ...

Big government spending on infrastructure is singlehandedly pulling the construction sector into positive territory this year Big government spending on infrastructure is singlehandedly pulling the construction sector into positive territory this year, according to analysis by Alfa-Bank Ukraine. Through October, construction...

Overall, the government’s Big Construction’s share of GDP grew from 2.8% in the first quarter, to 10% in the fourth quarter Overall, the government’s Big Construction’s share of GDP grew from 2.8% in the first quarter, to 10% in the fourth quarter, Mikhail Kukhar, chief economist of Ukraine Economic Outlook, said last week...

By the end of this month, the goals of the Big Construction project should be 95% complete, By the end of this month, the goals of the Big Construction project should be 95% complete, Kyrylo Tymoshenko, deputy presidential chief of staff, tells Interfax-Ukraine. The completion scorecard is: ...

Europe’s biggest floating crane is being towed from Istanbul to Zaporizhia to complete the long-delayed bridge over the Dnipro Europe’s biggest floating crane is being towed from Istanbul to Zaporizhia to complete the long-delayed bridge over the Dnipro, reports Ukravtodor. When erect, the crane rises 148 meters — nearly the ...

Since March $518 million in loans have been extended to small businesses, a factor in mitigating the impact of the coronavirus recession Since March $518 million in loans have been extended to small businesses, a factor in mitigating the impact of the coronavirus recession, the Finance Ministry reported yesterday. Under the ‘5-7-9% Loa...

Home mortgage loans, long a rarity in Ukraine, are up 23% yoy, totalling almost $100 million through October Home mortgage loans, long a rarity in Ukraine, are up 23% yoy, totalling almost $100 million through October. The average size is for $26,000, and 87% are for second homes, reports the National Bank o...

By replacing ‘Black Friday’ sales with ‘Black Week’ sales, merchants managed to save what could have been a bleak start to the holiday season By replacing ‘Black Friday’ sales with ‘Black Week’ sales, merchants managed to save what could have been a bleak start to the holiday season, Ukrainian bankers tell Interfax-Ukraine. Charges with Akk...

By contrast, the MOYO chain of electronics stores says it doubled its sales on Black Friday By contrast, the MOYO chain of electronics stores says it doubled its sales on Black Friday. Sales were boosted partly by a 16% increase in stores, to 36, and by keeping one store in Kyiv open around ...

JYSK, which has a chain of 71 furniture stores in Ukraine, recorded a 10% increase in sales in November JYSK, which has a chain of 71 furniture stores in Ukraine, recorded a 10% increase in sales in November compared to last year. Evgeniy Ivanitsa, country director of the Danish-based firm, said this in...

Real wages jumped 11% yoy in October, Real wages jumped 11% yoy in October, reports the State Statistics Service. Reflecting the impact of the coronavirus epidemic, the fastest growing wages were in healthcare — up 54%. The worst performi...

The national monthly average wage is $430. The national monthly average wage is $430. The highest wages are in: Kyiv City — $618; Ukraine-controlled Donetsk — $479; and Kyiv Region — $456. Of the 24 regions, wages grew the fastest in: Chernivt...

Concorde Capital’s Evgeniya Akhtyrko attributes “the fast growth of real wages Concorde Capital’s Evgeniya Akhtyrko attributes “the fast growth of real wages to the minimum wage being hiked to UAH 5,000 a month starting Sept.1, relatively low consumer inflation, and the increase...

Monday, December 7

A total renewal of the wagon fleet will generate “billions of Hryvnia of government orders for Ukrainian manufacturers, hundreds of thousands of jobs A total renewal of the wagon fleet will generate “billions of Hryvnia of government orders for Ukrainian manufacturers, hundreds of thousands of jobs, additional GDP growth of 2% per year,” the minist...

Cracking down on overloaded trucks, the National Police checked 75,000 trucks last month Cracking down on overloaded trucks, the National Police checked 75,000 trucks last month, almost four times the number of checks performed in November of last year. So far this year, police have 665,0...

Air cargo through Kyiv-Boryspil is down by only 10% through November Air cargo through Kyiv-Boryspil is down by only 10% through November, compared to the first 11 months of last year. Air cargo dropped to 33,400 tons, Anton Borisyuk, the airport’s strategic developmen...

In a bid to unlock billions of dollars in low interest IMF loans, the Rada restored accountability for false asset declarations, albeit a watered down version. In a bid to unlock billions of dollars in low interest IMF loans, the Rada restored accountability for false asset declarations, albeit a watered down version. Approved Friday, the new bill raised the...