ubnukraine

Monday, July 20

Cheap electricity is key for Ukrainians metals competing in world markets. Cheap electricity is key for Ukrainians metals competing in world markets. “To be a successful competitor in the rolled metal market, we are obliged to offer high quality product and reasonable prices...

Friday, July 17

In the Rada, deputies loyal to Ihor Kolomoisky, a major electricity consumer, propose tariff cuts deeper than the compromise memorandum In the Rada, deputies loyal to Ihor Kolomoisky, a major electricity consumer, propose tariff cuts deeper than the compromise memorandum accepted by most producers last month. In face of this looming c...

Yesterday, the Rada also voted to promote Olga Pishchanska to chair of the Antimonopoly Committee. Yesterday, the Rada also voted to promote Olga Pishchanska to chair of the Antimonopoly Committee. She had been the first deputy head of the Committee until two weeks ago, when Zelenskiy dismissed Yur...

Two surveys conducted before the July 1 central bank crisis indicate worsening consumer and business outlooks. Two surveys conducted before the July 1 central bank crisis indicate worsening consumer and business outlooks.

The consumer sentiment index fell by 11 points in June, to 65 points on a 200-point scale The consumer sentiment index fell by 11 points in June, to 65 points on a 200-point scale. Info Sapiens, which carries out this monthly survey, reports these drops: economic expectations, down 19 poin...

Business expectations fell to their lowest level in five years Business expectations fell to their lowest level in five years, according to the National Bank’s latest quarterly survey of company executives. The second quarter level was 91%, a sharp drop from the ...

Ukraine’s cyber police blocked 947 cyber attacks on state entities last week. Of the attacks, 48% were ‘Brute Force’ attacks Ukraine’s cyber police blocked 947 cyber attacks on state entities last week. Of the attacks, 48% were ‘Brute Force’ attacks — hacking of a password by enumerating all possible key options; and ...

In one ‘brute force’ attack, a hacker was arrested last week and charged with breaking into 50 government data bases and trying to sell the information In one ‘brute force’ attack, a hacker was arrested last week and charged with breaking into 50 government data bases and trying to sell the information, reports Cointelegraph, citing Ukraine’s cyber p...

By the end of this year, Ukraine’s air travel will reach half the level of 2019 By the end of this year, Ukraine’s air travel will reach half the level of 2019, Infrastructure Minister Vladyslav Krykliy writes in NV.

Markets and investors largely welcomed the Rada’s approval yesterday morning of a new head of the central bank. Markets and investors largely welcomed the Rada’s approval yesterday morning of a new head of the central bank. In rapid fire sequence, Kyrylo Shevchenko, head of state-owned Ukrgasbank, first won app...

LOT Polish Airlines resumed flights Wednesday from Warsaw to Lviv and to Odesa LOT Polish Airlines resumed flights Wednesday from Warsaw to Lviv and to Odesa. For now, Ukrainians can only fly to Poland if they have valid work or study contracts, residence in the EU, or are in tr...

At the Rada podium, Shevchenko projected the image of a centrist. At the Rada podium, Shevchenko projected the image of a centrist. He defended inflation targeting of his predecessors, but signaled that he supports lower interest rates to support “further economic g...

Starting today, Ukrainians can enter Bulgaria without Covid tests Starting today, Ukrainians can enter Bulgaria without Covid tests and without self-isolation.

Ukraine’s mountain of nonperforming loans should be cut, said Shevchenko, a veteran of work at state-owned banks, first at Oschadbank Ukraine’s mountain of nonperforming loans should be cut, said Shevchenko, a veteran of work at state-owned banks, first at Oschadbank, then at Ukragasbank. Addressing the Rada, he broke down the share...

Citibank’s Ukraine Economics Flash writes: “ Citibank’s Ukraine Economics Flash writes: “Market participants should draw a deep sigh of relief given that some of the more controversial candidates have been avoided… A sudden stop with the n...

Concorde Capital’s Alexander Paraschiy writes Concorde Capital’s Alexander Paraschiy writes: “It’s not clear whether Shevchenko will be able to withstand expected pressure from the cabinet and the president to radically ease monetary policy, or e...

To calm investors and markets, the new central bank governor should quickly state his policy on inflation and foreign exchange, To calm investors and markets, the new central bank governor should quickly state his policy on inflation and foreign exchange, former Economy Minister Timofey Milovanov tells Interfax-Ukraine. “it is...

The American Chamber of Commerce in Ukraine says: The American Chamber of Commerce in Ukraine says: “The business community hopes that the new head of the National Bank will preserve the independence of the NBU and continue its current course, in par...

With the ‘green tariff’ for solar and wind farms unresolved, the Rada is extending its session through Tuesday in hopes of finding a solution With the ‘green tariff’ for solar and wind farms unresolved, the Rada is extending its session through Tuesday in hopes of finding a solution. Wind and solar producers have largely gone unpaid by Ukre...

Thursday, July 16

During the first half of this year, a period that includes the height of the coronavirus lockdown, Ukraine’s exports of goods were down 6% yoy, and imports were down 12% yoy. During the first half of this year, a period that includes the height of the coronavirus lockdown, Ukraine’s exports of goods were down 6% yoy, and imports were down 12% yoy. The trade deficit shrivel...

With Gazprom moving to finish Nord Stream 2 gas line by the end of this year, Washington is preparing harsher sanctions in an effort to stop the project. With Gazprom moving to finish Nord Stream 2 gas line by the end of this year, Washington is preparing harsher sanctions in an effort to stop the project. “Get out now, or risk of the consequences,” US...

On July 9, Denmark’s Energy Agency approved that Gazprom’s request to complete the last 120 km of the pipeline using Russia’s anchor-stabilized pipelaying ship. On July 9, Denmark’s Energy Agency approved that Gazprom’s request to complete the last 120 km of the pipeline using Russia’s anchor-stabilized pipelaying ship. The agency says that in that section of...

The 26 nations of Europe’s Schengen Area will remain closed to Ukrainians for “the nearest future,” The 26 nations of Europe’s Schengen Area will remain closed to Ukrainians for “the nearest future,” Ukraine’s Foreign Minister Dmytro Kuleba tells segodnya.ua news site. The reason: Ukraine’s new coro...

Ukraine will extend its COVID-19 quarantine at least until September, Ukraine will extend its COVID-19 quarantine at least until September, Health Minister Maksym Stepanov tells RBK-Ukraine. In Kyiv, measures could be kept in place until the end of next year, Oleh Ruban...

Due to high coronavirus levels in Israel and Ukraine, Ukraine will not permit the annual pilgrimage of 30,000 Hasidic Jews to Uman, Cherkasy Due to high coronavirus levels in Israel and Ukraine, Ukraine will not permit the annual pilgrimage of 30,000 Hasidic Jews to Uman, Cherkasy. Normally, the pilgrimage would take place two months from ...

Ukrzaliznytsia has resumed half of its pre-quarantine passenger train service Ukrzaliznytsia has resumed half of its pre-quarantine passenger train service, reports Ivan Yurik, acting chairman of the state railroad. Currently, UZ runs 65 long-distance trains and 700 suburban tr...

UIA currently uses eight of its 35 aircraft UIA currently uses eight of its 35 aircraft, Sergey Fomenko, UIA commercial director, tells the Center for Transportation Strategies. Of the fleet, six Boeings are in long term storage, the rest are b...

The Rada will debate this morning President Zelenskiy’s nomination of Kyrylo Shevchenko, to be the next governor of National Bank of Ukraine. The Rada will debate this morning President Zelenskiy’s nomination of Kyrylo Shevchenko, to be the next governor of National Bank of Ukraine. A lifelong banker in Kyiv, Shevchenko, aged 47, has run st...

UNIAN news agency UNIAN news agency describes Shevchenko as a state banker who would pursue two goals of President Zelenskiy – an expansionary monetary policy and closer relations with the President. Last fall, Shevche...

The Rada is expected to approve Shevchenko. The Rada is expected to approve Shevchenko. But it is unclear if he will have the character to stand up to oligarchs who want their bankrupt banks back. In face of pressure that included death threats...

Kyiv’s state-owned Dnipro Hotel was sold by online auction yesterday to a real estate company for $41 million – 14 times the starting bid of $3 million. Kyiv’s state-owned Dnipro Hotel was sold by online auction yesterday to a real estate company for $41 million – 14 times the starting bid of $3 million. With 29 investors participating in the ProZorro...

Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. “The hotel will get a second life – the hotel will function,” pre...

Zelenskiy and other government officials hailed the sale of the 12-story Dnipro as the start of Ukraine’s “big” privatization – state companies worth over $10 million Zelenskiy and other government officials hailed the sale of the 12-story Dnipro as the start of Ukraine’s “big” privatization – state companies worth over $10 million. “Big privatization has sta...

The Hotel Ukraina, overlooking the Maidan, is to be the next state-owned hotel to go up for sale The Hotel Ukraina, overlooking the Maidan, is to be the next state-owned hotel to go up for sale. First, government lawyers have to break several legal “poison pills” that make the property unattracti...

Wednesday, July 15

Ukraine’s opening up to legalized gambling has drawn the attention of the international trade press Ukraine’s opening up to legalized gambling has drawn the attention of the international trade press, with articles in I gaming business.com, and in Europeangaming.

Gambling could create “Klondikes” in depressed regions of Ukraine Gambling could create “Klondikes” in depressed regions of Ukraine, Mikheil Saakashvili, chairman of the National Reform Council, predicts on his Facebook page. A decade ago, as President of Georgia, S...

Radisson Hotel Group announced yesterday it plans to open in two years the Radisson Hotel Pechersk Park Kiev, a 167-room high hotel now under construction Radisson Hotel Group announced yesterday it plans to open in two years the Radisson Hotel Pechersk Park Kiev, a 167-room high hotel now under construction on a site with views of the Lavra and the Mot...

In a nationwide telephone poll completed Sunday, 34% of the 1,000 respondents said they believe government coronavirus numbers to be overestimated and 35% said they have not changed their work habits In a nationwide telephone poll completed Sunday, 34% of the 1,000 respondents said they believe government coronavirus numbers to be overestimated and 35% said they have not changed their work habits ...

The state railroad carried 9% less cargo during the first half of this year, The state railroad carried 9% less cargo during the first half of this year, compared to the same January-June period last year. Ukrzaliznytsia reports: exports were down 5.4%; imports were down 19.4%...

UIA reports that it carried half the air cargo during the first half of this year, UIA reports that it carried half the air cargo during the first half of this year, compared to the same January- June last year. Despite special flights carrying Covid protection gear from China this ...

Without a rebound in air travel, UIA may be forced to let go 900 employees, about one third of the current staff, Without a rebound in air travel, UIA may be forced to let go 900 employees, about one third of the current staff, Fomenko says in the same interview. He predicts that next year the airline, Ukraine’s ...

Austria is extending to July 30 its ban on air travel from 18 countries, including Ukraine. Austria is extending to July 30 its ban on air travel from 18 countries, including Ukraine. Tracking the evolution of the pandemic, Ukraine is adding Albania, Bulgaria and the Czech Republic to its li...

Setting an example: Horizon Capital CEO Lenna Koszarny has been recognized by Setting an example: Horizon Capital CEO Lenna Koszarny has been recognized by Emerging-Europe.com as ‘Emerging Europe’s No. 2 Female Business Leader’ for this year. Elena Hristova Marinova, pres...

IMF Managing Director Kristalina Georgieva spoke by telephone yesterday with President Zelenkiy and warned him: “It is in the interest of Ukraine to preserve the independence of [the central bank] and it is also a requirement under the current IMF-supported program IMF Managing Director Kristalina Georgieva spoke by telephone yesterday with President Zelenkiy and warned him: “It is in the interest of Ukraine to preserve the independence of [the central bank] and...

Central bank governor, Yakiv Smoliy, resigned July 1, complaining of “systematic” political pressure from the President’s office. Central bank governor, Yakiv Smoliy, resigned July 1, complaining of “systematic” political pressure from the President’s office. His abrupt resignation forced the Finance Ministry to abort what was s...

After the IMF call, Zelenskiy tweeted that he will present “an independent technocrat” as a candidate for a Rada vote on Friday, After the IMF call, Zelenskiy tweeted that he will present “an independent technocrat” as a candidate for a Rada vote on Friday, the last day before parliament’s breaks for a 6-week summer vacation. “...

Breaking a decade-old ban, the Rada passed a bill yesterday to legalize gambling. Breaking a decade-old ban, the Rada passed a bill yesterday to legalize gambling. Voted 248-95, on the second reading, the bill is expected to overcome final hurdles and go to Zelenskiy for his signat...

Tuesday, July 14

Highlights: Highlights:

The Rada is scheduled to vote the Green Energy bill this week on the second reading. Failure could carry a high price tag The Rada is scheduled to vote the Green Energy bill this week on the second reading. Failure could carry a high price tag, one North American investor warns the UBN. If the government fails to pay $62...

The current central bank team will resist President Zelenskiy’s demand to print more money to create an artificial economic boomlet, The current central bank team will resist President Zelenskiy’s demand to print more money to create an artificial economic boomlet, Kateryna Rozhkova, acting governor of the National Bank of Ukraine,...