ukrainetoday

Wednesday, February 17

DiDi will compete with Bolt, Uber and Uklon for Ukraine’s taxi market, estimated by Uklon at $800 million a year. DiDi will compete with Bolt, Uber and Uklon for Ukraine’s taxi market, estimated by Uklon at $800 million a year. Uber, the first mover in Ukraine, now operates in seven Ukrainian cities and claims th...

Taxi services got a boost yesterday when the Rada overwhelmingly approved a bill raising the penalty for drunk driving to $608 Taxi services got a boost yesterday when the Rada overwhelmingly approved a bill raising the penalty for drunk driving to $608. For repeat offenders, the fine is doubled to $1,216, licenses are suspen...

McDonald’s Ukraine plans to expand a pilot program of restaurant waste recycling to all 96 restaurants in the country by the end of this year McDonald’s Ukraine plans to expand a pilot program of restaurant waste recycling to all 96 restaurants in the country by the end of this year, the company announced yesterday. As part of a world...

Kyiv’s 11th Regus office work space opens in Podil next month Kyiv’s 11th Regus office work space opens in Podil next month, reports the parent company, Luxembourg-based IWG Plc. Despite last year’s economic recession, total occupancy of the 10 existing Regus wo...

Kyiv’s Sikorsky Airport is to add 500 meters to its runway, allowing Wizz Air, its primary user, to use larger jets. Kyiv’s Sikorsky Airport is to add 500 meters to its runway, allowing Wizz Air, its primary user, to use larger jets. By moving to Airbus 321 jets, Wizz Air says it can reduce frequencies and noise in ...

Mayor Klitschko signed an order last week for design work to start on a 5-year upgrade of the airport Mayor Klitschko signed an order last week for design work to start on a 5-year upgrade of the airport. By expanding the runway to 2,810 meters, upgrading lights and adding an instrument landing system...

German and Biden Administration officials are discussing a package of measures that would allow the Russia-German gas line to open, but protect Ukraine’s security concerns German and Biden Administration officials are discussing a package of measures that would allow the Russia-German gas line to open, but protect Ukraine’s security concerns, according to a Financial Ti...

“As Berlin seeks solutions, early signs from Washington indicate that the Biden administration is seeking to defuse the Nord Stream 2 debate,” “As Berlin seeks solutions, early signs from Washington indicate that the Biden administration is seeking to defuse the Nord Stream 2 debate,” the FT writes. “Two knowledgeable sources said [US Secret...

A cold weather spike in electricity consumption, a lack of coal, and power plant breakdowns are forcing Eastern Ukraine to import electricity A cold weather spike in electricity consumption, a lack of coal, and power plant breakdowns are forcing Eastern Ukraine to import electricity from Belarus and Russia and Western Ukraine to import elec...

Electricity consumption last week was 6.5% more than forecast Electricity consumption last week was 6.5% more than forecast. But coal reserves fell to one third of required minimums. Thanks to imports, Kudrytskyi does not predict immediate power shortages.

DTEK Group, Ukraine’s largest private power producer DTEK Group, Ukraine’s largest private power producer, called on the government yesterday “to abolish price caps, which are an obstacle to the liberalization of the electricity market.” The company cit...

Ukraine’s Energoatom will soon stop sending spent nuclear fuel to Russia for processing and storage Ukraine’s Energoatom will soon stop sending spent nuclear fuel to Russia for processing and storage, Petro Kotin, the company head, said yesterday. In July, the Centralized Spent Fuel Storage Facility...

With demand strong for Ukrainian government bonds, the Finance Ministry depressed yields on all five hryvnia bonds sold at yesterday’s auction With demand strong for Ukrainian government bonds, the Finance Ministry depressed yields on all five hryvnia bonds sold at yesterday’s auction, the Ministry reported. With yields dropping from six to ...

Looking beyond the bland public statements surrounding Ukraine’s recent suspension of talks with the IMF, Looking beyond the bland public statements surrounding Ukraine’s recent suspension of talks with the IMF, Anders Aslund, a veteran IMF observer, writes in an Atlantic Council blog: “No agreement was c...

DiDi, China’s giant online taxi service, plans to launch this year in Ukraine, reports AIN.ua news site. With 550 million users DiDi, China’s giant online taxi service, plans to launch this year in Ukraine, reports AIN.ua news site. With 550 million users, tens of millions of users and billions of dollars in revenues, DiDi ent...

Monday, February 1

IKEA opens its first bricks and mortar store in Ukraine today IKEA opens its first bricks and mortar store in Ukraine today, at Kyiv’s Blockbuster Mall, the company announces on Instagram. The store will be the first in SE Europe new ‘city format’ – 5,000 square...

French sportswear brand Decathlon opens this spring its third store in two years in Kyiv French sportswear brand Decathlon opens this spring its third store in two years in Kyiv. With the new store, Decathlon will have 8,500 square meters of retail space in Kyiv – in Prospekt mall, Lavina...

Last Monday, the first day after the January lockdown, about 300,000 shoppers visited Epicenter shopping centers around Ukraine – up 50% yoy, reports the Epicenter K press service. Last Monday, the first day after the January lockdown, about 300,000 shoppers visited Epicenter shopping centers around Ukraine – up 50% yoy, reports the Epicenter K press service. Best sellers were h...

Despite the harsh spring lockdown, Foxtrot achieved a 20% growth in sales of its retail electronics last year Despite the harsh spring lockdown, Foxtrot achieved a 20% growth in sales of its retail electronics last year, Foxtrot CEO Alexey Zozulya reports. On line sales grew strongly, with 9 million people vi...

Marriott International expects to open its first Sheraton in Ukraine, at Kyiv’s Olympiysky complex, by the end of this year Marriott International expects to open its first Sheraton in Ukraine, at Kyiv’s Olympiysky complex, by the end of this year, according to a press release. Delayed for a decade, the hotel project recei...

The Kyiv City Council has made a preliminary decision to expand Sikorsky’s airport’s lone runway by 22% The Kyiv City Council has made a preliminary decision to expand Sikorsky’s airport’s lone runway by 22%, to 2,810 meters. This would allow larger aircraft, such as Airbus A321, to land at Kyiv’s Right...

Russia-controlled Donbas has virtually closed itself off from Ukraine-controlled Donbas, Russia-controlled Donbas has virtually closed itself off from Ukraine-controlled Donbas, according to figures cited by the Kyiv Post. From 250,000 weekly crossings in January, 2020, the number of week...

State Security agents yesterday broke up a ‘shareholders meeting’ in Zaporizhia of Chinese and Ukrainian investors claiming ownership of Motor Sich State Security agents yesterday broke up a ‘shareholders meeting’ in Zaporizhia of Chinese and Ukrainian investors claiming ownership of Motor Sich, the helicopter and jet engine giant. On Friday, Pre...

Two weeks earlier, Wilbur Ross, then US Commerce Secretary, added Skyrizon to a list of companies classified as prohibited military end-users Two weeks earlier, Wilbur Ross, then US Commerce Secretary, added Skyrizon to a list of companies classified as prohibited military end-users, saying its activities threaten U.S. national security. Ro...

Before sending agents to break down the doors of the meeting, Before sending agents to break down the doors of the meeting, Ukraine’s State Security agency, or SBU, warned Sunday that it “is documenting the facts of preparation for the destruction of the product...

Ukraine’s “ Ukraine’s “actions are a barbaric robbery and a serious violation of the legal rights and interests of Chinese companies operating abroad, an unprecedented disrespect for the principles and rules of i...

Skyrizon vowed to proceed with its $3.5 billion suit against Ukraine Skyrizon vowed to proceed with its $3.5 billion suit against Ukraine. China last year became Ukraine’s large trading partner. Ukraine’s two-trade with China through October was $12 billion. By contras...

Skyrizon’s Ukraine partner, DCH Group of Oleksandr Yaroslavsky, was more cautious, Skyrizon’s Ukraine partner, DCH Group of Oleksandr Yaroslavsky, was more cautious, saying yesterday that “leading law firms” had concluded that “the Chinese investors are bona fide buyers and legal ow...

Companies from several NATO countries, including Turkey, have looked at purchasing parts of Motor Sich Companies from several NATO countries, including Turkey, have looked at purchasing parts of Motor Sich, a conglomerate that employed 21,000 workers a decade ago. When the war broke out between Ukraine...

Wednesday, January 27

The IMF has raised its world GDP growth forecast to 5.5% for this year The IMF has raised its world GDP growth forecast to 5.5% for this year, according to its World Economic Outlook Update released yesterday. Growth is predicated on aggressive and successful global vacc...

Ukraine wants to extend its $5.2 billion IMF loan program by another six months, to June 2022, Ukraine wants to extend its $5.2 billion IMF loan program by another six months, to June 2022, reports LB.ua. Approved last June, the program was designed to release the money in five tranches through...

Concorde Capital’s Alexander Paraschiy wrote Concorde Capital’s Alexander Paraschiy wrote: “The Fund will demand the full restoration of the recently damaged anti-corruption infrastructure. Therefore, the lb.ua allegations are in line with our a...

The Finance Ministry lowered yields on three of four-hryvnia Government Bonds it offered at auction yesterday The Finance Ministry lowered yields on three of four-hryvnia Government Bonds it offered at auction yesterday, the Ministry reported on Facebook. By squeezing the supply of 6-month bonds, it lowered t...

The Finance Ministry sold last year the equivalent of $13.6 billion worth of bonds The Finance Ministry sold last year the equivalent of $13.6 billion worth of bonds, reports the Ministry. About one third of the bonds were in foreign currency — $3.8 billion and €800 million. S...

With Argentina and Russia moving next month to curb corn exports, Ukraine is meeting domestic consumers half way, imposing an export quota of 24 million tons With Argentina and Russia moving next month to curb corn exports, Ukraine is meeting domestic consumers half way, imposing an export quota of 24 million tons, 8% higher than what pig and poultry produ...

Ukraine’s food exports to the EU slipped by 11% last year, to €6.5 billion Ukraine’s food exports to the EU slipped by 11% last year, to €6.5 billion, the Ukrainian Agribusiness Club reports on Facebook. Ukraine was tied with China as the third largest source of imported foo...

Poland, Slovakia and Hungary recruit heavily for Ukrzaliznytsia’s railway workers, Poland, Slovakia and Hungary recruit heavily for Ukrzaliznytsia’s railway workers, leading to a growing labor shortage here, reports the Center for Transportation Strategies. “There are a huge number ...

“Dmitri lokfuhrer,” or Dmitri, the locomotive engineer, is the poster boy for “Dmitri lokfuhrer,” or Dmitri, the locomotive engineer, is the poster boy for Deutsche Bahn’s new Ukrainian language recruiting advertisement for Ukrainian train drivers. Featuring a video of Dmitri d...

In a symbolic step toward privatizing Ukraine’s state-dominated banking sector, In a symbolic step toward privatizing Ukraine’s state-dominated banking sector, the World Bank’s International Finance Corporation is extending a €30 million euro loan to state-owned Ukrgasbank, which...

“Ukrgasbank will be Ukraine’s first state-owned bank to go private,” “Ukrgasbank will be Ukraine’s first state-owned bank to go private,” the National Bank of Ukraine said in a press release. “The new €30mn loan lays the groundwork for the bank’s transformation.” Kyryl...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy writes: “Taking into account that Ukrgazbank was best-prepared for an international financial institution entering into its equity, and that the negotiation proc...

Friday, January 22

Ukraine’s economy contracted by 4.4% in 2020 — far less than the estimates of 6-7% made last May Ukraine’s economy contracted by 4.4% in 2020 — far less than the estimates of 6-7% made last May, when the country was still in a severe lockdown, reported the National Bank of Ukraine. Despite ...

The Central Bank board decided yesterday to key Ukraine’s prime interest rate at 6% The Central Bank board decided yesterday to key Ukraine’s prime interest rate at 6%, the level it reached last June. In the 15 months prior to June 2020, the National Bank of Ukraine cut prime by two ...

Eying inflation, the Central Bank warned that if inflation increases, “ Eying inflation, the Central Bank warned that if inflation increases, “the National Bank will raise the discount rate. This will curb the acceleration of inflation in 2021 and return it to 5% in 2022....

Average borrowing costs for businesses dropped by 45% over the last year Average borrowing costs for businesses dropped by 45% over the last year, Kyrylo Shevchenko, Governor of the Central Bank, told reporters yesterday. “As for the cost of loans for businesses in the nat...

The contract of Petr Krumphanzl, Chairman and CEO of PrivatBank, expires tomorrow The contract of Petr Krumphanzl, Chairman and CEO of PrivatBank, expires tomorrow. While the Board looks for a successor, leadership of Ukraine’s largest and most profitable bank will go to Anna Samar...

President Biden should bolster “US support for Ukraine in order to get the country back on the reform track,” President Biden should bolster “US support for Ukraine in order to get the country back on the reform track,” Andy Hunder, president of the American Chamber of Commerce in Ukraine, urges in a new essa...

“The top priorities of the Biden administration’s Ukraine policy must be to curtail Russian aggression, reduce corruption, and contain the oligarchs… “The top priorities of the Biden administration’s Ukraine policy must be to curtail Russian aggression, reduce corruption, and contain the oligarchs…What Ukraine’s shady oligarchs fear most of all is ...

Turkey’s Doğuş İnşaat ve Ticaret A.Ş submitted a winning $402 million bid Turkey’s Doğuş İnşaat ve Ticaret A.Ş submitted a winning $402 million bid to win Ukravtodor’s tender build a 1.7 km cable suspension bridge across the Dnipro at Kremenchuk, Poltava oblast, the state h...

Qatar’s state-owned power development company, Nebras, is buying control of 214 MW of Ukraine solar and wind plants Qatar’s state-owned power development company, Nebras, is buying control of 214 MW of Ukraine solar and wind plants from Vasyl Khmelnytsky and his partners, according to a filing with Ukraine’s Antimo...