ukrainetoday

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...

Anti-corruption groups have protested. Anti-corruption groups have protested. President Zelenskiy wrote on Facebook: “It is a pity that the responsibility is still not as tough as we would like.” But he made clear he would sign the comprom...

Ukrainian bonds are among the best performing in emerging markets in the post-US-election rally Ukrainian bonds are among the best performing in emerging markets in the post-US-election rally, reports Tellimer Research. “Sovereign bonds lead the way, tightening 100-150bps in November and outperf...

Russia restarted construction of the Nord Stream 2 gas pipeline on Saturday Russia restarted construction of the Nord Stream 2 gas pipeline on Saturday, Ukraine’s Hromadske television channel reports, citing a document from the Germany’s Federal Maritime and Hydrographic Agen...

Germany’s government sees US sanctions against Nord Stream 2 as illegal and does not predict any change under a Biden administration Germany’s government sees US sanctions against Nord Stream 2 as illegal and does not predict any change under a Biden administration, German Foreign Minister Heiko Maas tells Der Spiegel. “”We h...

With Britain apparently heading toward a ‘hard Brexit’ With Britain apparently heading toward a ‘hard Brexit’ three weeks from now, Ukraine is asking the UK to negotiate a bilateral trade deal to lower tariffs. On Friday, Prime Minister Shmygal asked UK A...

Representatives of over 100 Ukrainian companies took part remotely in a China-Ukraine investment fair, hosted in Beijing Representatives of over 100 Ukrainian companies took part remotely in a China-Ukraine investment fair, hosted in Beijing, reports china.org.cnnews site With almost 300 Chinese and Ukrainian business a...

Huawei Ukraine is helping the Digital Transformation Ministry open a center Huawei Ukraine is helping the Digital Transformation Ministry open a center “for students and future entrepreneurs” at Kyiv’s Taras Shevchenko National University. “This initiative opens up new opport...

For the first time since Independence, Ukraine’s Defense Ministry is about to order new planes from Antonov For the first time since Independence, Ukraine’s Defense Ministry is about to order new planes from Antonov, Strategic Industries Minister Oleh Urusky tells Radio Svoboda. “A contract will be signed b...

Calling the condition of the state railroad’s freight wagons “catastrophic”, the Cabinet of Ministers has adopted a “program of radical renewal” Calling the condition of the state railroad’s freight wagons “catastrophic”, the Cabinet of Ministers has adopted a “program of radical renewal” — replacing all 63,000 in the state fleet o...

Thursday, December 3

Timothy Ash writes from London Timothy Ash writes from London: “Surprised it took them so long given the strength of global beta which has seen Ukraine’s borrowing costs in the Eurobond market crash 200bps lower over the past month...

Through October, Ukraine has attracted $221 million in new direct foreign investment — 5% of the $4.5 billion attracted during the first 10 months of last year Through October, Ukraine has attracted $221 million in new direct foreign investment — 5% of the $4.5 billion attracted during the first 10 months of last year, the National Bank of Ukraine reported y...

Corporate raiding — stealing companies through forgeries or force — is up slightly this year compared to last year Corporate raiding — stealing companies through forgeries or force — is up slightly this year compared to last year, reports Ukrinform, citing data from Opendatabot, an online registry. Through October...

Ukrzaliznytsia plans to spend almost $1 billion next year on repairing locomotives, cars, and track — almost three times the money spent this year. Ukrzaliznytsia plans to spend almost $1 billion next year on repairing locomotives, cars, and track — almost three times the money spent this year. As posted on the state railroad’s site, financing wo...

Despite the corona recession, cargo handled by Ukraine’s seaports is up by 1% yoy. Despite the corona recession, cargo handled by Ukraine’s seaports is up by 1% yoy. Through November, the ports handled 146 million tons. Confirming Ukraine’s reliance on exports of raw materials, grai...

Kyiv’s autumn (September-November) was the warmest since local record keeping started in 1881 Kyiv’s autumn (September-November) was the warmest since local record keeping started in 1881, reports Ukrinform. “The calendar autumn is over but the meteorological winter has not come yet,” reports ...

Ukrainians can look forward to a normal shopping this weekend and, probably through Friday December 25, Catholic Christmas. Ukrainians can look forward to a normal shopping this weekend and, probably through Friday December 25, Catholic Christmas. Prime Minister Shmygal said November’s weekend shopping bans had cut the spr...

Yesterday morning, 13,141 new cases were announced, down from a daily average of 16,500 late last week. Yesterday morning, 13,141 new cases were announced, down from a daily average of 16,500 late last week. However, in Kyiv Mayor Klitschko said yesterday that a record 1,735 new coronavirus cases had be...

With a big budget funding gap looming, Ukraine may tap the international Eurobond market for up $1 billion in short term financing With a big budget funding gap looming, Ukraine may tap the international Eurobond market for up $1 billion in short term financing, Prime Minister Shmygal told the Korrespondent news site. He asserts ...

Wednesday, December 2

The bulk of the 756,548 Ukrainians who got first time residency in the EU last year went to Poland – 79%. The bulk of the 756,548 Ukrainians who got first time residency in the EU last year went to Poland – 79%. Spreading into the Baltics and around Central Europe, Ukrainians accounted for the top nationa...

With cross border traffic expected to rebound this spring, assuming vaccines diminish the coronavirus pandemic, EU nations are helping Ukraine upgrade its often outdated border crossings. With cross border traffic expected to rebound this spring, assuming vaccines diminish the coronavirus pandemic, EU nations are helping Ukraine upgrade its often outdated border crossings. In coming we...

Poland is lending Ukraine €100 million to upgrade the Poland is lending Ukraine €100 million to upgrade the 13 land border crossings between the two nations. The 30-year, low interest loan also will help upgrade Ukraine’s road and rail approaches to the ...

Estonia will help Ukraine install two electronic border crossing systems at two of Ukraine’s busiest land crossings – Chop with Hungary, and Uzhgorod with Slovakia. Estonia will help Ukraine install two electronic border crossing systems at two of Ukraine’s busiest land crossings – Chop with Hungary, and Uzhgorod with Slovakia. Using Estonian experience, the goal...

Brazil and Ukraine, two of the world’s second tier arms exporters, started discussing possible joint ventures yesterday Brazil and Ukraine, two of the world’s second tier arms exporters, started discussing possible joint ventures yesterday, the start of a 5-day visit to Ukraine by executives of 13 from Brazil’s top arm...

This week’s face to face meetings follow a video conference two months ago This week’s face to face meetings follow a video conference two months ago with the participation of UkrOboronProm executives and Rosas Pontis, who is Brazil’s director of Secretariat for Defense Prod...

Ending a 2-day trip to Turkey yesterday, Prime Minister Shmygal told reporters that his delegation invited Turkish companies to participate in concessions for international highways and for two Black Sea ports. Ending a 2-day trip to Turkey yesterday, Prime Minister Shmygal told reporters that his delegation invited Turkish companies to participate in concessions for international highways and for two Black ...

As Ukraine’s defense partnership with Turkey extends to the air, As Ukraine’s defense partnership with Turkey extends to the air, the air forces of the two nations have discussed the possibility of data exchange “including airspace monitoring” under NATO’s Air Situ...

With Turkish investors interested in buying one quarter of shares of jet engine maker Motor Sich With Turkish investors interested in buying one quarter of shares of jet engine maker Motor Sich, the original Chinese buyers plan to appeal their third rejection by Ukraine’s Antimonopoly Committee. ...

Defying the recession, Ukrzaliznytsia, the nation’s main cargo hauler, carried 7% more freight in November than in November of last year. Defying the recession, Ukrzaliznytsia, the nation’s main cargo hauler, carried 7% more freight in November than in November of last year. Approaching the railroad’s target of 1 million tons a day, UZ ...

The Finance Ministry sold at auction yesterday the hryvnia equivalent of $93 million in government bonds The Finance Ministry sold at auction yesterday the hryvnia equivalent of $93 million in government bonds. The 3-month bond was the most popular, accounting for 74% of sale, the Ministry reported on Fa...

ICU ICU gives this insight into the Nov. 24 auction: “For the first time since the end of February, foreigners’ portfolios rose during a week, albeit by a small amount. The increase amounted to just...