ukrainebusinessnews

Tuesday, December 22

The The government last night appointed Yuriy Vitrenko, the former Naftogaz executive, as acting Energy Minister and First Deputy Minister of Energy. Vitrenko replaces Olha Buslavets, who ran the Energy M...

More litigation with Russia and more openness to Western investment may emerge under Vitrenko. More litigation with Russia and more openness to Western investment may emerge under Vitrenko. Interspersed with stints at Naftogaz, Vitrenko worked for Pricewaterhouse Coopers in Kyiv, Merrill Lynch ...

Yulia Kovaliv, a familiar face to foreign investors, Yulia Kovaliv, a familiar face to foreign investors, resigned yesterday as deputy chief of staff to President Zelenskiy. Kovaliv also headed the Office of the National Investment Council, an organizat...

The government also appointed Vadym Melnyk as head of the State Fiscal Service The government also appointed Vadym Melnyk as head of the State Fiscal Service. The previous fulltime head of the service, Serhiy Verlanov, was dismissed last April.

The Kyiv Economic Court accepted last week a lawsuit alleging that Roman Leshchenko The Kyiv Economic Court accepted last week a lawsuit alleging that Roman Leshchenko, Ukraine’s newly appointed Agriculture Minister, embezzled $430,000 from a Ukrainian farming company owned by Kurt J...

While the US government labors to determine damage done by cyber infiltrators, Ukraine’s government faces almost daily hacker attacks on its government resources and is strengthening its cyber security, While the US government labors to determine damage done by cyber infiltrators, Ukraine’s government faces almost daily hacker attacks on its government resources and is strengthening its cyber securit...

With Ukraine recording its first infection with new highly contagious coronavirus strain, the government decided last night not to suspend flights between Ukraine and Britain With Ukraine recording its first infection with new highly contagious coronavirus strain, the government decided last night not to suspend flights between Ukraine and Britain. First identified in Brit...

While France, Germany, Turkey and Poland stop flights from Britain While France, Germany, Turkey and Poland stop flights from Britain, Ukraine’s Cabinet of Ministers decided not to suspend air traffic with the UK, Infrastructure Minister Vladyslav Krykliy wrote on hi...

Today, there is only one flight from Kyiv to Britain Today, there is only one flight from Kyiv to Britain: a Wizz Air flight from Sikorsky Airport to London Luton. Last week, UIA inaugurated flights between Boryspil and London Heathrow. At that time, UI...

With passenger flights unreliable, logistics company Meest China has started weekly cargo flights between Hong Kong and Boryspil With passenger flights unreliable, logistics company Meest China has started weekly cargo flights between Hong Kong and Boryspil. “Regular flights are canceled, delivery times are difficult to predict...

EU job offerings for Ukrainians have grown by 40% since coronavirus travel controls started to lift in June EU job offerings for Ukrainians have grown by 40% since coronavirus travel controls started to lift in June, reports Jooble, the Kyiv-based job search engine that aggregates international job postings...

Starting last Thursday, Wizz Air resumed flights from Kharkiv to all its German and Polish destinations. Starting last Thursday, Wizz Air resumed flights from Kharkiv to all its German and Polish destinations. Ukrainian tourists are not allowed to travel to Poland and Germany. With the exception of Ukrai...

Monday, December 21

Ukraine is selling less food, but making more money, calculates Alfa-Bank Ukraine. Ukraine is selling less food, but making more money, calculates Alfa-Bank Ukraine. “Decreased crops have been more than compensated by elevated prices for key commodities,” Oleskiy Blinov, Alfa’s head...

President Zelenskiy President Zelenskiy promises The New York Times to “reformat” the Constitutional Court as part of “global judicial reform in Ukraine, which we will start implementing next year.” In a video link inter...

Sales of electronics and home appliances during last month’s ‘Black Friday’ and ‘Cyber Monday’ were up 28% yoy to $235 million Sales of electronics and home appliances during last month’s ‘Black Friday’ and ‘Cyber Monday’ were up 28% yoy to $235 million, reports the Ukraine unit of GfK, Germany largest market research institu...

Ending a 9-month suspension, Qatar Airways resumed flights Friday between Doha and Kyiv Boryspil Ending a 9-month suspension, Qatar Airways resumed flights Friday between Doha and Kyiv Boryspil. Flights will be four times a week on Airbus A320 jets. From Doha, Qatar flies to 100 destinations, sai...

European development banks are providing €900 million to rebuild the southern half of the Kyiv-Odesa highway and a 24 km northern bypass around Lviv, European development banks are providing €900 million to rebuild the southern half of the Kyiv-Odesa highway and a 24 km northern bypass around Lviv, reported the Infrastructure Ministry. “This projec...

Work is to start next year on the projects Work is to start next year on the projects which are both sections of the Trans-European Transport Network, or TEN-T. Of the money, two thirds goes to rebuilding 275 km of the Kyiv-Odesa highway, and ...

Ukraine plans to build by 2022 a EU-standard highway on the 72 km section of the M-10 between Lviv and the closest crossing with Poland, at Krakovets, Ukraine plans to build by 2022 a EU-standard highway on the 72 km section of the M-10 between Lviv and the closest crossing with Poland, at Krakovets, Ukravtodor’s Kubrakov tells Interfax-Ukraine. Thi...

Weekly container trains are to start rolling next year between the Baltic and the Black Seas, Weekly container trains are to start rolling next year between the Baltic and the Black Seas, Lukasz Greinke, President of Gdansk Port, tells The Maritime Executive, a Florida-based news site. Gdansk ...

Germany will spend €255 million to help Ukraine improve energy efficiency in schools, rebuild roads, and modernize its vocational education system Germany will spend €255 million to help Ukraine improve energy efficiency in schools, rebuild roads, and modernize its vocational education system, the Finance Ministry announces. The money will be a ...

Today, the IMF starts video link talks with Ukraine Today, the IMF starts video link talks with Ukraine, reviewing the $5 billion Stand-by Arrangement signed last June. Only one tranche of the 18-month deal has been delivered, also last June. Holding u...

Americans bought half of Ukraine’s $600 million Eurobond placement that settled Friday Americans bought half of Ukraine’s $600 million Eurobond placement that settled Friday, reported the Finance Ministry. The breakdown was: US –52%; UK – 37%; and EU – 10%. The breakdown of institutions...

Foreign holdings of Ukrainian government hryvnia bonds increased by 6.8% last week Foreign holdings of Ukrainian government hryvnia bonds increased by 6.8% last week as foreigners joined the government record auction of $1.8 billion in equivalent of bonds on December 15. After nine ...

To keep the hryvnia from gaining value, the Central Bank bought $300 million last week To keep the hryvnia from gaining value, the Central Bank bought $300 million last week, the largest one-week purchase since June. With travel abroad difficult during the upcoming holiday season, deman...

Elena Bilan, Dragon Capital’s Chief Economist noted that the export price for Ukrainian steel has risen by 150% this year Elena Bilan, Dragon Capital’s Chief Economist noted that the export price for Ukrainian steel has risen by 150% this year, to almost $700/ton. She wrote: “Favorable prices for export goods and foreign...

Friday, December 18

Today, the foreign ministers and defense ministers of Turkey and Ukraine meet in Kyiv for the first of what are to be regular ‘2+2’ meetings. Today, the foreign ministers and defense ministers of Turkey and Ukraine meet in Kyiv for the first of what are to be regular ‘2+2’ meetings. Today’s meeting comes as both Black Sea nations step a mil...

“Ukraine’s Leader Is Being Broken by the System He Vowed to Crush,” “Ukraine’s Leader Is Being Broken by the System He Vowed to Crush,” headlines a Bloomberg report from Kyiv. “Volodymyr Zelenskiy is flailing as hard-won reforms since the 2014 ouster of the country’s ...

Bloomberg offered hope that President-elect Biden will work to restore the free market reform momentum in Ukraine Bloomberg offered hope that President-elect Biden will work to restore the free market reform momentum in Ukraine. The article cites a recent Razumkov Center survey where 42% of respondents ranked Zel...

Today an agreement is to be signed allowing construction of Lviv’s Northern Bypass Today an agreement is to be signed allowing construction of Lviv’s Northern Bypass, says Oleksandr Kubrakov, head of Ukravtodor. Completing the missing link on Lviv’s ring road, the new highway will c...

Ukraine’s air passenger traffic should return next year to 50% the level of 2019, Ukraine’s air passenger traffic should return next year to 50% the level of 2019, Infrastructure Minister Vladyslav Krikliy predicted yesterday at a press conference in Kyiv. This year, he said, air p...

Following a strategy of modernizing five regional airports a year, the government has budgeted $85 million to renovate in 2021 the airports of Dnipro, Kherson, Rivne, Vinnytsia and Odesa Following a strategy of modernizing five regional airports a year, the government has budgeted $85 million to renovate in 2021 the airports of Dnipro, Kherson, Rivne, Vinnytsia and Odesa. Almost 60% o...

Ukraine’s version of Mary Poppins – the ‘investment nannies’ – were voted into existence by the Rada yesterday Ukraine’s version of Mary Poppins – the ‘investment nannies’ – were voted into existence by the Rada yesterday as part of a wider package of incentives for foreign and domestic investors. The investme...

Signaling that Ukraine is open for business, the new law covers a wide range of sectors, Signaling that Ukraine is open for business, the new law covers a wide range of sectors, including: processing of food and minerals; waste management, transport, logistics, warehouses, package deliver...

With the government planning to recreate an agriculture ministry next month, With the government planning to recreate an agriculture ministry next month, the Rada approved yesterday Roman Leshchenko as the new minister of Agrarian Policy and Food. Most recently head of the Sta...

Leshchenko, aged 32, pledged to make the national farm land registry more transparent Leshchenko, aged 32, pledged to make the national farm land registry more transparent, brining millions of hectares ‘out of the shadows’ into the taxable economy. “Everyone knows that in the Chornobyl...

The Rada also appointed Serhiy Shkarlet as Minister of Education and Science The Rada also appointed Serhiy Shkarlet as Minister of Education and Science. The ruling party failed to muster enough votes appoint Yuriy Vitrenko, former executive director of Naftogaz, as Energy Mi...

Six months ago, it was called the Ministry of Energy and Coal Mining. Six months ago, it was called the Ministry of Energy and Coal Mining. But yesterday, Olha Buslavets, first deputy Ministry of Energy, briefed British officials that Ukraine “soon will join the Coalles...

DTEK rejects as “a politically motivated provocation” DTEK rejects as “a politically motivated provocation” a report by the National Anticorruption Bureau (NABU) that the power company sought have Buslavets installed last spring as Minister to derail an ...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy writes: “It will be extremely hard to prove wrongdoing in the Rotterdam Plus approach implementation, and even harder to claim repayment for any damages from it&...

Wednesday, December 9

ICU wrote of last week’s auction ICU wrote of last week’s auction: “Foreigners are monitoring the market and watching the trend in rate increases, waiting for the optimal time to make new investments. That could be when the increase ...

The Central Bank is expected to keep Ukraine’s prime rate at the historically low level of 6% The Central Bank is expected to keep Ukraine’s prime rate at the historically low level of 6% at Thursday’s policy meeting. In a Reuters poll of 15 analysts, 14 predicted that the National Bank of Ukr...

Betting on the growth of e-commerce, Ukrposhta plans to start building a 600,000 square meters of mail and package sorting centers next year. Betting on the growth of e-commerce, Ukrposhta plans to start building a 600,000 square meters of mail and package sorting centers next year. Largely funded with EBRD and European Investment Bank loan...

Foreign tourists visiting Kyiv this year fell to 300,000 — 15% of the 2 million who visited last year. Foreign tourists visiting Kyiv this year fell to 300,000 — 15% of the 2 million who visited last year. With national tourists not filling the gap, Kyiv’s tourism industry — hotel, restaurants, nightcl...

Wizz Air restores this month many flights to the EU from Kyiv Sikorsly, Kharkiv and Lviv, Wizz Air restores this month many flights to the EU from Kyiv Sikorsly, Kharkiv and Lviv, reports the Hungary-based low-cost carrier. If a flight is cancelled due to coronavirus restrictions, Wizz Air...

Preparing to lay off 150 pilots, UIA appealed to President Zelenskiy yesterday Preparing to lay off 150 pilots, UIA appealed to President Zelenskiy yesterday,asking for a low interest loan and relief on debts owed to Ukraine’s air traffic control agency and to Boryspil Aiport, U...

Since April, UIA has processed 60% of demands for ticket returns, refunding $22 million, Since April, UIA has processed 60% of demands for ticket returns, refunding $22 million, the airline reports. Another 56,000 requests await processing. As part of personnel cuts at UIA, the airline’s ...

UIA’s sister airline, Windrose Airlines continues its expansion into the Balkans, starting flights this week from Kyiv Boryspil to Belgrade, Serbia, and from Boryspil to Skopje, North Macedonia. UIA’s sister airline, Windrose Airlines continues its expansion into the Balkans, starting flights this week from Kyiv Boryspil to Belgrade, Serbia, and from Boryspil to Skopje, North Macedonia. In re...

With snow forecast for much of Ukraine tomorrow, 99% of the 2021 harvest is in With snow forecast for much of Ukraine tomorrow, 99% of the 2021 harvest is in, reported the Ministry of Economy, Trade and Agriculture. Harvested from 24 million hectares, an expanse the size of Brit...

Measured in volume, grain exports are down by 14% — to 20 million tons Measured in volume, grain exports are down by 14% — to 20 million tons — since the marketing year started July 1. Corn exports are down 26% yoy, to 6 million tons. Wheat exports are down 11.5%, to 12 ...