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Friday, August 7

Separately, U.S. attorney’s office in Cleveland is investigating Kolomoisky for possible money laundering. Separately, U.S. attorney’s office in Cleveland is investigating Kolomoisky for possible money laundering. As a part of that case, the FBI raided on Tuesday two Kolomoisky offices in the US, one in Cl...

Thursday, August 6

Ukrtransgaz has 11 underground gas storage facilities with a total capacity of 31 bcm – equal to the total storage capacity of Italy, France, Hungary and Austria combined. Ukrtransgaz has 11 underground gas storage facilities with a total capacity of 31 bcm – equal to the total storage capacity of Italy, France, Hungary and Austria combined. “The Ukrainian gas market ha...

Thanks to a new business — oil transshipments from Odesa to Belarus — Ukraine’s oil imports are up 142% for the first half of this year, Thanks to a new business — oil transshipments from Odesa to Belarus — Ukraine’s oil imports are up 142% for the first half of this year, compared to January-June 2019, reports Ukrtransnaft...

The massive blast that severely damaged Beirut’s port Tuesday destroyed 85% of the city’s grain silos The massive blast that severely damaged Beirut’s port Tuesday destroyed 85% of the city’s grain silos, leaving the country with a one-month supply of wheat. A warehouse filled with ammonium nitrate fe...

US government agencies may have slow walked approval of steel company sale in 2017, helping to sink 20% of the $1 billion that Ihor Kolomoisky and his partner Hennadiy Boholyubov had invested in the US, US government agencies may have slow walked approval of steel company sale in 2017, helping to sink 20% of the $1 billion that Ihor Kolomoisky and his partner Hennadiy Boholyubov had invested in the U...

President Trump’s nominee for ambassador to Ukraine, Lt. General ret. Keith W. Dayton, testified yesterday before the US Senate Foreign Relations Committee President Trump’s nominee for ambassador to Ukraine, Lt. General ret. Keith W. Dayton, testified yesterday before the US Senate Foreign Relations Committee. Here are highlights:

Recalling his first visit to Soviet Ukraine, in 1980, as a Russian-speaking US Army field artillery officer: Recalling his first visit to Soviet Ukraine, in 1980, as a Russian-speaking US Army field artillery officer: “The fundamental challenges remain the same: Ukraine seeks to rid itself of Moscow’s interf...

On challenges of building a modern, market economy: On challenges of building a modern, market economy: “Vested interests continue to resist reform— particularly, reform of the judicial and financial sectors. A strong, independent central bank has been...

On China’s interest in Ukraine’s defense industries On China’s interest in Ukraine’s defense industries: “Years of corruption and mismanagement have pushed Ukrainian defense firms to the brink of collapse. This neglect has made Ukraine’s hard-earned in...

China’s “Skyrizon negotiated cooperation in the field of aircraft engines with DCH Group (Ukraine) and came to an agreement,” China’s “Skyrizon negotiated cooperation in the field of aircraft engines with DCH Group (Ukraine) and came to an agreement,” Xinwei Group’s Skyrizon reported yesterday on the Shanghai Stock Exchange ...

Shabo, the Odesa region winery, opened its third store in China last week Shabo, the Odesa region winery, opened its third store in China last week. With Shabo stores now in Fuzhou, Guangzhou and X’ian, the company plans to open a store next year in Shanghai, says Stanyslav...

Flights in Ukrainian airspace nearly tripled in July Flights in Ukrainian airspace nearly tripled in July, hitting 12,195, compared to 4,584 in June. But the July number is only one third the level of July 2019. Ukraine’s air traffic control agency deri...

For a nation of trucks loaded with grain, sturdy concrete roads represent the path to the future For a nation of trucks loaded with grain, sturdy concrete roads represent the path to the future, promised participants yesterday at a Concrete Roads conference in Kyiv. Noting that concrete roads hol...

Used car imports continue to flood into Ukraine. Used car imports continue to flood into Ukraine. In July, 34,300 used imports were registered for the first time, 17% more than in June, and 43% more than in July 2019. So far this year, 173,600 used ...

European gas traders have more than quadrupled the volume of natural gas they store in western Ukraine’s underground reservoirs, European gas traders have more than quadrupled the volume of natural gas they store in western Ukraine’s underground reservoirs, reports Ukrtransgaz. Offshore companies have parked 5.3 billion cubic m...

Wednesday, August 5

Ukraine is on track to reach this year the symbolic target of a Ukraine is on track to reach this year the symbolic target of a 100 million ton harvest of grain and oilseeds, predicts the Ukrainian Grain Association. This would be 2% higher than last year’s overal...

Ukraine harvested 27 million tons of grain from 48% of its sown area as of July 30 Ukraine harvested 27 million tons of grain from 48% of its sown area as of July 30, reports Successful Farming, an Iowa-based news site. This volume included 18.3 million tons of wheat, harvested from...

Kernel has doubled its grain exports in two years, becoming Ukraine’s largest grain exporter. Kernel has doubled its grain exports in two years, becoming Ukraine’s largest grain exporter. In the recently completed marketing year, Kernel exported 8 million tons, or 13.3% of Ukraine’s total grai...

With domestic consumption flat, exports are to increase by 5% this year, to 61 million tons With domestic consumption flat, exports are to increase by 5% this year, to 61 million tons. Increasingly seen as a world food power, Ukraine was second only to the US last year in grain exports. Ukra...

In “Feed and Rule,” an essay on In “Feed and Rule,” an essay on ZN site, Foreign Minister Kuleba says Ukraine’s new status of a food power allows it to gain “authority and influence on the world stage.” Noting that the coronavirus p...

In China, a move by a local unit of Sinograin to ban smartphones and cameras from its granaries has provoked national worries about levels of reserves In China, a move by a local unit of Sinograin to ban smartphones and cameras from its granaries has provoked national worries about levels of reserves. A cellphone video that showed moldy and dirty gr...

DCH, one of the largest investment groups in Eastern Ukraine, has reached a deal to develop airplane engine maker Motor Sich with Chinese investors DCH, one of the largest investment groups in Eastern Ukraine, has reached a deal to develop airplane engine maker Motor Sich with Chinese investors Skyrizon Aircraft Holdings Limited. Last year, the U...

The FBI raided offices yesterday of U.S. companies belonging to Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov in Cleveland and Miami The FBI raided offices yesterday of U.S. companies belonging to Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov in Cleveland and Miami, reports RFE/RL and Cleveland.com. “I can confirm tha...

No surprises at yesterday’s weekly auction of hryvnia No surprises at yesterday’s weekly auction of hryvnia domestic government bonds. The auction raised the equivalent of $370 million, slightly less than last week, the Finance Ministry reported on Faceb...

SkyUp, Ukraine’s discount airline, lost more than $30 million in the first half of this year SkyUp, Ukraine’s discount airline, lost more than $30 million in the first half of this year, the airline tells Interfax-Ukraine. During the first half of this year, SkyUp’s passenger count fell 15% y...

With the EU largely closed to Ukrainians, UIA has cancelled its flights to 10 cities for the rest of August With the EU largely closed to Ukrainians, UIA has cancelled its flights to 10 cities for the rest of August: Athens, Barcelona, Baku, Berlin, Chisinau, Frankfurt, Larnaca, Prague, Rome and Vienna. Ukr...

Turkish Airlines resumed its pre-lockdown network of flights from Istanbul to Ukraine Turkish Airlines resumed its pre-lockdown network of flights from Istanbul to Ukraine, with direct flights from the new Istanbul Airport to Kyiv, Kharkiv, Kherson, Lviv, Odesa and Zaporizhia. For Amer...

In the latest effort to rebuild the East, the European Investment Bank is planning to lend €100 million to Ukravtodor In the latest effort to rebuild the East, the European Investment Bank is planning to lend €100 million to Ukravtodor to finance almost two thirds of a road building project in government-controlled L...

August August drivers will encounter almost 400 speed cameras across Ukraine. In addition to 116 speed guns held by police, more than 250 stationary cameras are being activated, reports TSN.ua. During the we...

Flaunting the $8 speeding fine, one driver broke the speed limit 60 times in 50 days, Flaunting the $8 speeding fine, one driver broke the speed limit 60 times in 50 days, says Volodomyr Karavaev, chairman of the National Road Safety Forum. As a result, Rada deputies are discussing a b...

Tuesday, August 4

Sandwiched between Guatemala and the Philippines, Ukraine has the world’s second most dependent economy on remittances from overseas workers Sandwiched between Guatemala and the Philippines, Ukraine has the world’s second most dependent economy on remittances from overseas workers, The Wall Street Journal reports, citing World Bank statist...

With barriers erected to block coronavirus, remittances worldwide will drop 20% this year, With barriers erected to block coronavirus, remittances worldwide will drop 20% this year, estimates Dilip Ratha, the World Bank’s lead economist on these money flows. The Journal writes: “That drop w...

Remittances of Ukraine’s labor migrants were down 8.5% in June yoy Remittances of Ukraine’s labor migrants were down 8.5% in June yoy, falling to $856 million, reports the National Bank of Ukraine. After a strong start to the year, remittance fell sharply in in April...

With Ukraine’s borders closed during the April-May peak of the lockdown, cross-border money flows via banks actually increased by 13% yoy With Ukraine’s borders closed during the April-May peak of the lockdown, cross-border money flows via banks actually increased by 13% yoy, Alfa-Bank Ukraine reports, citing Central Bank data. Similarl...

During the summer harvest season, 9 million Ukrainians – or half of the nation’s total work force — work in the EU During the summer harvest season, 9 million Ukrainians – or half of the nation’s total work force — work in the EU, according to Social Policy Ministry estimates cited by the Kyiv Post in an art...

Ukrainian workers increasingly want to settle in Poland Ukrainian workers increasingly want to settle in Poland, according to a new study by the National Bank of Poland. Of Ukrainians surveyed in Warsaw this summer, 52% want to stay for three years or more...

The number of job offers abroad for Ukrainians increased by 20% to 8,000 The number of job offers abroad for Ukrainians increased by 20% to 8,000, according to a popular job site analyzed by TSN.ua. “The greatest demand for Ukrainian workers continues to be in Poland, the ...

Estonia’s “strawberry war” had a messy ending after the government moved too late to allow Ukrainian workers into the Baltic country Estonia’s “strawberry war” had a messy ending after the government moved too late to allow Ukrainian workers into the Baltic country. Tons of the red berries rotted in the fields. Last Thursday, Wizza...

Munich-based FlixBus is aggressively expanding into Ukraine this summer offering new routes: Kyiv-Vilnius and Kyiv-Krakow-Prague. Munich-based FlixBus is aggressively expanding into Ukraine this summer offering new routes: Kyiv-Vilnius and Kyiv-Krakow-Prague. From Vilnius, travellers can connect to 12 other Baltic cities. Ukrain...

Speaking to business executives in Volyn, an oblast on the Polish border, President Zelenkiy said of the regional labor shortage Speaking to business executives in Volyn, an oblast on the Polish border, President Zelenkiy said of the regional labor shortage: “Until there are normal jobs, normal wages, there is nothing that can ...

The 5-7-9% lending program has extended $120 million in loans to 1,755 small businesses The 5-7-9% lending program has extended $120 million in loans to 1,755 small businesses, Yulia Kovaliv, Deputy Presidential Chief of Staff, said Monday. With the $68,400 the average loan size, 62% hav...

Volodomyr Kudritskiy was elected CEO of Ukrenergo by the state electricity transmission company’ Supervisory Board on Sunday. Volodomyr Kudritskiy was elected CEO of Ukrenergo by the state electricity transmission company’ Supervisory Board on Sunday. A five-year veteran of Ukrenergo, Kudritskiy previously worked for Ukrtran...

Since the start of this year, Ukrenergo’s ‘Guaranteed Buyer’ unit has paid for only 27% of the power it took from solar and wind producers Since the start of this year, Ukrenergo’s ‘Guaranteed Buyer’ unit has paid for only 27% of the power it took from solar and wind producers. For the last four months, this unit known as ‘GarPok,’ has o...

The EBRD will lend state gas producer UkrGazVydobuvannya €52 million to increase energy efficiency and to maintain gas production. The EBRD will lend state gas producer UkrGazVydobuvannya €52 million to increase energy efficiency and to maintain gas production. With a payback period up to 15 years, the interest rate is about 2.5%...

Next Monday, the long-delayed cross Danube ferry crossing will open between Isaccea, Romania, and Orlivka, Odesa region Next Monday, the long-delayed cross Danube ferry crossing will open between Isaccea, Romania, and Orlivka, Odesa region. For drivers between Odesa and Constanta, Romania, the ferry will cut out a 2-ho...

UIA has returned another Boeing 737-800 to the lessor, trimming its fleet to 33 planes. UIA has returned another Boeing 737-800 to the lessor, trimming its fleet to 33 planes. Of the 33, 14 Boeings are in storage – in Ukraine, Spain and the Czech Republic. UIA has 26 Boeings and seven Em...

Monday, August 3

Ukraine’s economy shrank by 11% yoy during the second quarter, midway between the EU’s drop of 12.1% and the US drop of 9.5%. Ukraine’s economy shrank by 11% yoy during the second quarter, midway between the EU’s drop of 12.1% and the US drop of 9.5%. The National Bank of Ukraine estimates that during the current quarter, th...

According to the Central Bank, Farming is expected to be the largest sector of the economy that has been least affected by quarantine restrictions According to the Central Bank, Farming is expected to be the largest sector of the economy that has been least affected by quarantine restrictions. Food accounts for almost half of Ukraine’s exports. ...

By doubling spending on road construction, the government averted a steep drop in the construction sector By doubling spending on road construction, the government averted a steep drop in the construction sector during the first half of this year, according to Oleksiy Blinov, Economist for Alfa-Bank Ukrai...

The quarantine pushed business from cash to cards. The quarantine pushed business from cash to cards. Non-cash card transactions increased to 55%, up from 50% before mid-March. This was reported on the Central Bank Facebook page. With the increasing u...