ukrainebusinessnews

Thursday, December 19

Piraeus Bank sponsored the War & Politics Live event in Kyiv: What the Future Holds for Ukraine in 2025. On December 13, the UBN Network hosted an event titled “WAR & POLITICS: POST US ELECTIONS – WHAT THE FUTURE HOLDS FOR UKRAINE.” As the general sponsor of UBN’s series of ev...

Thursday, October 3

Piraeus Bank joins leaders from the business community to discuss strategic planning at the War & Business event hosted by UBN. Piraeus Bank in Ukraine has reinforced its commitment to supporting business resilience and economic planning through its role as the general sponsor of the recent War & Business: Planning for an ...

Friday, March 22

The indissoluble link between business and war: UBN held a second event in Kyiv On a still cool but already spring day, amid a tangle of bad news and public concerns about the future hanging in the air of Kyiv’s streets, a circle of selected business investors, entrepreneur...

Saturday, November 25

War & Business: The Ukraine Business Network has been launched. Tucked away amid the sloping hills of Kyiv, a select group of business investors, representatives, and entrepreneurs gathered at the Parkoviy Congress Center to gain insight into investment prospects ...

Monday, March 1

Bell Textron’s ‘Huey’ helicopters, the US military’s workhorse in the Vietnam War, will be assembled in coming months at Ukroboronprom’s Bell Textron’s ‘Huey’ helicopters, the US military’s workhorse in the Vietnam War, will be assembled in coming months at Ukroboronprom’s Odesa Aviation Plant under license from the Fort Worth, Texas c...

US investments in Ukraine are expected by the end of this year in a series of areas, US investments in Ukraine are expected by the end of this year in a series of areas, Oksana Markarova, said in a lengthy interview with Ukrinform made prior to her traveling to Washington to take up h...

A five-year veteran of Ukraine’s Finance Ministry, Markarova dampened hopes that her main job is to get Ukraine’s IMF program back on track A five-year veteran of Ukraine’s Finance Ministry, Markarova dampened hopes that her main job is to get Ukraine’s IMF program back on track. She said: “Most of the central bodies of financial organiza...

Ukraine will receive only one IMF tranche this year, Ukraine will receive only one IMF tranche this year, predicts Fitch Ratings. Predicting that Ukraine will get less than one quarter of the $2.9 available under the June 2020 Standby Arrangement, the N...

Financial needs in the second half of this year will pressure the government to adopt the anti-corruption and free market reforms demanded by the IMF, Financial needs in the second half of this year will pressure the government to adopt the anti-corruption and free market reforms demanded by the IMF, Fitch predicted. Foreign debt repayments spike in...

As Ukrainians gain confidence in money transfer systems, the amount of money transferred inside the country grew by 24% yoy in 2020 As Ukrainians gain confidence in money transfer systems, the amount of money transferred inside the country grew by 24% yoy in 2020, to the equivalent of $9.5 billion, reports the National Bank of Ukr...

The amount of money sent into Ukraine through money transfer systems increased by 19% yoy, to $2.7 billion. The amount of money sent into Ukraine through money transfer systems increased by 19% yoy, to $2.7 billion. The average amount of one transfer increased by 7%, to $393. The top sources of money coming...

More movies, better food, and chatbots oriented toward business customers are in the works for Ukrzaliznytsia this year, More movies, better food, and chatbots oriented toward business customers are in the works for Ukrzaliznytsia this year, Alexander Pertsovsky, director of the state railroad’s ‘Passenger Company,’ tol...

A Viber and Telegram chatbot for buying tickets A Viber and Telegram chatbot for buying tickets that UZ launched in January with Visa and Middleware Inc. is to be expanded to handle group sales and “the B2B segment,” said Pertsovsky. UZ is working ...

UZ will buy 100 new passenger sleeper cars for an expected price of $109 million UZ will buy 100 new passenger sleeper cars for an expected price of $109 million, according a tender posted last week on Prozorro, the online procurement platform. The tender closes March 30 and the c...

To boost Black Sea tourism, almost 500 km of bicycle paths are to be built in Odesa and neighboring Mykolaiv regions To boost Black Sea tourism, almost 500 km of bicycle paths are to be built in Odesa and neighboring Mykolaiv regions. In Odesa, two paths totaling 420 km will run on two routes south of the city, Ukra...

Georgia reopens to foreign tourists today Georgia reopens to foreign tourists today, after almost one year of quarantine. To enter Georgia, Ukrainians need to do two PCR tests – one within 72 hours of takeoff and a second 72 hours after arriv...

Rivals Wizz Air and Ryanair are gambling that Italy will open up for Ukrainian tourism at the end of this month. Rivals Wizz Air and Ryanair are gambling that Italy will open up for Ukrainian tourism at the end of this month. Starting March 28, Ryanair starts service from Lviv to Bari, Naples, Palermo, Pisa, Tre...

Bees Airline, a new Ukrainian lowcost startup, plans to start flying this month from Kyiv Sikorsky to Egypt’s Red Sea resort of Marsa Alam and in April to Mombasa, Kenya. Bees Airline, a new Ukrainian lowcost startup, plans to start flying this month from Kyiv Sikorsky to Egypt’s Red Sea resort of Marsa Alam and in April to Mombasa, Kenya. The airline has leased two Bo...

Friday, February 19

Ukraine hopes to sign its long-delayed Open Skies agreement with the EU in 10 days, Ukraine hopes to sign its long-delayed Open Skies agreement with the EU in 10 days, when Charles Michel, president of the European Council, visits Kyiv, Prime Minister Shmyhal tells Ukrinform. Fresh f...

Miss flying? Miss flying? For $95, UIA offers on Sunday, March 7 a “Flight over Kyiv”. This 70-minute excursion features a view of Chornobyl nuclear plant from 900 meters and an overflight of Antonov’s airport at ...

Dnipro airport, Ukraine’s largest airport construction project of the year, will be rebuilt by Kyiv’s Dnipro airport, Ukraine’s largest airport construction project of the year, will be rebuilt by Kyiv’s Altis-Construction LLC. With a $141 million bid for the three-year project, Altis beat six other c...

In a survey of 172 hotels across Ukraine, 23% predict business will return this year to 2019 levels and 57% predict a full return in 2022 In a survey of 172 hotels across Ukraine, 23% predict business will return this year to 2019 levels and 57% predict a full return in 2022, reports the Ukrainian Hotel & Resort Association. Horwath...

In January, hotel occupancies were: In January, hotel occupancies were: Lviv – 35%; Kharkiv – 31%; Kyiv – 23%; and Odessa – 19%. The average room rate in Kyiv was $57, according to Hotel Matrix, a web-based analy...

Due to controls surrounding coronavirus, the world tourism industry lost $935 billion Due to controls surrounding coronavirus, the world tourism industry lost $935 billion during the first 10 months of 2020, reports United Nations World Tourism Organization. To allow safe travel, the E...

Despite corona controls, Ukraine’s Border Service registered 11.2 million exits by Ukrainians last year Despite corona controls, Ukraine’s Border Service registered 11.2 million exits by Ukrainians last year, potentially one quarter of the nation’s adult population. Top destinations were: Poland – 4 mil...

Ukraine received 3.4 million visits by foreigners Ukraine received 3.4 million visits by foreigners. The top countries were Ukraine’s land neighbors: Moldova – 933,000; Belarus – 463,500; Russia – 390,000; Poland – 272,000; Romania – 229,000; and Hun...

The number of Kyivstar subscribers who traveled abroad during the Dec. 24-Jan. 10 holiday season was down 81% yoy, The number of Kyivstar subscribers who traveled abroad during the Dec. 24-Jan. 10 holiday season was down 81% yoy, reports Ilya Polshakov, New Business Director for Kyivstar, Ukraine’s largest mobile ...

One year after coronavirus controls shut down air travel, the Infrastructure Ministry wants to give $18 million in tax and airport rent relief to the four Ukrainian airlines One year after coronavirus controls shut down air travel, the Infrastructure Ministry wants to give $18 million in tax and airport rent relief to the four Ukrainian airlines that carried evacuation fl...

On March 28, Mykolaiv airport wins back its lone scheduled flight, a Windrose Airlines flight to Kyiv. On March 28, Mykolaiv airport wins back its lone scheduled flight, a Windrose Airlines flight to Kyiv. On March 1, Windrose resumes its charter flights from Mykolaiv to Sharm el Sheikh, Egypt.

For summer travel, Pegasus Airlines will launch six routes from Ukrainian cities to Turkish resort towns. For summer travel, Pegasus Airlines will launch six routes from Ukrainian cities to Turkish resort towns. With flights starting as early as April, the Turkish discount airline will fly from Kyiv Borys...

SkyUp, Ukraine’s largest discount airline, started last year with double the fleet – all Boeing 737s – but carried only 1.2 million passengers, half its forecast. SkyUp, Ukraine’s largest discount airline, started last year with double the fleet – all Boeing 737s – but carried only 1.2 million passengers, half its forecast. Despite a bad year, the airline retai...

This spring, SkyUp starts service from Kyiv Boryspil This spring, SkyUp starts service from Kyiv Boryspil to two Polish cities popular with Ukrainian workers: Katowice and Lodz. At the end of May, as the tourism season starts, SkyUp plans to start servi...

Airlines are betting on Ukraine’s enduring love affair with Italy Airlines are betting on Ukraine’s enduring love affair with Italy. Starting in late May, SkyUp will expand its Kyiv flight network to nine Italian cities: Bari, Bergamo, Bologna, Catania, Lamezia Term...

A sign of summer travel A sign of summer travel: people who want to visit Italy’s Sardinia island will have to present a coronavirus vaccination certificate, Governor Christian Solinas tells L’Unione newspaper, according to ...

UIA restores flights from Kyiv to New York, Toronto, Delhi, Cairo and London-Heathrow UIA restores flights from Kyiv to New York, Toronto, Delhi, Cairo and London-Heathrow, according to a new summer schedule that starts in time for the May holidays. The new schedule also restores a hos...

The start date of vaccinations against Covid-19 in Ukraine is slipping by 2-3 weeks The start date of vaccinations against Covid-19 in Ukraine is slipping by 2-3 weeks, Andriy Slavutsky, head of UNICEF health programs said yesterday at a vaccination training event. Due to paperwork d...

Monday, December 28

Investments were down 24% in the third quarter Investments were down 24% in the third quarter, compared to the same July-September period in 2019. The Central Bank attributes this to uncertainty over the Covid-19 pandemic and freezing of solar and...

To mitigate the impact of the upcoming Covid quarantine, the government last week distributed $80 million in aid to 278,000 employees and small business owners To mitigate the impact of the upcoming Covid quarantine, the government last week distributed $80 million in aid to 278,000 employees and small business owners, the Digitalization Ministry reports. Wi...

Restaurants and bars can stay open until 7 am on New Year’s Day Restaurants and bars can stay open until 7 am on New Year’s Day, the Cabinet of Ministers has decreed. The following weekend, on Friday January 8, a 2-week strict lockdown is to be imposed nationwide,...

China, already Ukraine’s largest trading partner, could increase its two-way trade with Ukraine by 50%, to $20 billion by 2025, China, already Ukraine’s largest trading partner, could increase its two-way trade with Ukraine by 50%, to $20 billion by 2025, Irina Nikorak, executive director of Silk Link, Ukraine’s Silk Road Asso...

Ukraine is negotiating with a Chinese manufacturer for a supply of vaccines against Covid-19, Ukraine is negotiating with a Chinese manufacturer for a supply of vaccines against Covid-19, Ukraine’s Foreign Minister Dmitry Kuleba said Thursday on Ukraine 24 TV channel.

Of the 30 million ‘economically active’ Ukrainians, only 37%, or 10.9 million, pay taxes Of the 30 million ‘economically active’ Ukrainians, only 37%, or 10.9 million, pay taxes, Oleksiy Lyubchenko, Head of the State Tax Service, said recently on the Freedom of Speech show of Ukraina TV. ...

The top tax dodging regions are largely in the West The top tax dodging regions are largely in the West: Uzhgorod – 63%; Chernivtsi – 53%; Odesa — 48%; and Lviv — 46%. In central Ukraine, rates are better: Kyiv – 30%; Cher...

Off the books transactions account for “somewhere over 50%” of GDP Off the books transactions account for “somewhere over 50%” of GDP, Danil Getmantsev, ruling party MP and chair of the Rada committee on finance, tax and customs policy, told Radio Liberty. He called ...

In one step, 100,000 small businesses have downloaded the ‘cash register in a smart phone’ app since its debut August 1 In one step, 100,000 small businesses have downloaded the ‘cash register in a smart phone’ app since its debut August 1, 2020 Getmantsev said. As a result, there have been 100 million sales receipts u...

Legalized gambling will bring in $270 million in new tax revenues in 2021 Legalized gambling will bring in $270 million in new tax revenues in 2021, Hetmantsev predicted in the Radio Svoboda interview. Gambling in high-end hotel casinos is to start in Ukraine next year.

Ukrainian Insurance Group, a unit of Vienna Insurance Group, has paid $1.3 million for a cargo of wheat destroyed on August 4 in the massive port explosion in Beirut Ukrainian Insurance Group, a unit of Vienna Insurance Group, has paid $1.3 million for a cargo of wheat destroyed on August 4 in the massive port explosion in Beirut. The cargo was insured against all...

In 2021, Ukraine’s air travel will only rebound to half the level of 2019 In 2021, Ukraine’s air travel will only rebound to half the level of 2019, Infrastructure Minister Vladyslav Krikliy estimated in a year end interview with Channel 24. The 2019 level 25 million passen...

President Zelenskiy signed on Friday the national budget for 2021 President Zelenskiy signed on Friday the national budget for 2021. Expenditures are to be $46.5 billion and revenues are $38.2 billion. The deficit of $8.3 billion is to be 5.5% of GDP, forecast at $1...

Wizz Air plans to fly from Vinnytsia, its sixth Ukrainian city, Vinnytsia Mayor, Serhiy Morgunov, told Wizz Air plans to fly from Vinnytsia, its sixth Ukrainian city, Vinnytsia Mayor, Serhiy Morgunov, told Avianews. He said: “We are talking about the potential opening of flights from Vinnitsa to Berlin...