ukrnews

Friday, July 17

The American Chamber of Commerce in Ukraine says: The American Chamber of Commerce in Ukraine says: “The business community hopes that the new head of the National Bank will preserve the independence of the NBU and continue its current course, in par...

With the ‘green tariff’ for solar and wind farms unresolved, the Rada is extending its session through Tuesday in hopes of finding a solution With the ‘green tariff’ for solar and wind farms unresolved, the Rada is extending its session through Tuesday in hopes of finding a solution. Wind and solar producers have largely gone unpaid by Ukre...

In the Rada, deputies loyal to Ihor Kolomoisky, a major electricity consumer, propose tariff cuts deeper than the compromise memorandum In the Rada, deputies loyal to Ihor Kolomoisky, a major electricity consumer, propose tariff cuts deeper than the compromise memorandum accepted by most producers last month. In face of this looming c...

Yesterday, the Rada also voted to promote Olga Pishchanska to chair of the Antimonopoly Committee. Yesterday, the Rada also voted to promote Olga Pishchanska to chair of the Antimonopoly Committee. She had been the first deputy head of the Committee until two weeks ago, when Zelenskiy dismissed Yur...

Two surveys conducted before the July 1 central bank crisis indicate worsening consumer and business outlooks. Two surveys conducted before the July 1 central bank crisis indicate worsening consumer and business outlooks.

The consumer sentiment index fell by 11 points in June, to 65 points on a 200-point scale The consumer sentiment index fell by 11 points in June, to 65 points on a 200-point scale. Info Sapiens, which carries out this monthly survey, reports these drops: economic expectations, down 19 poin...

Thursday, July 16

Ukraine will extend its COVID-19 quarantine at least until September, Ukraine will extend its COVID-19 quarantine at least until September, Health Minister Maksym Stepanov tells RBK-Ukraine. In Kyiv, measures could be kept in place until the end of next year, Oleh Ruban...

Due to high coronavirus levels in Israel and Ukraine, Ukraine will not permit the annual pilgrimage of 30,000 Hasidic Jews to Uman, Cherkasy Due to high coronavirus levels in Israel and Ukraine, Ukraine will not permit the annual pilgrimage of 30,000 Hasidic Jews to Uman, Cherkasy. Normally, the pilgrimage would take place two months from ...

Ukrzaliznytsia has resumed half of its pre-quarantine passenger train service Ukrzaliznytsia has resumed half of its pre-quarantine passenger train service, reports Ivan Yurik, acting chairman of the state railroad. Currently, UZ runs 65 long-distance trains and 700 suburban tr...

UIA currently uses eight of its 35 aircraft UIA currently uses eight of its 35 aircraft, Sergey Fomenko, UIA commercial director, tells the Center for Transportation Strategies. Of the fleet, six Boeings are in long term storage, the rest are b...

The Rada will debate this morning President Zelenskiy’s nomination of Kyrylo Shevchenko, to be the next governor of National Bank of Ukraine. The Rada will debate this morning President Zelenskiy’s nomination of Kyrylo Shevchenko, to be the next governor of National Bank of Ukraine. A lifelong banker in Kyiv, Shevchenko, aged 47, has run st...

UNIAN news agency UNIAN news agency describes Shevchenko as a state banker who would pursue two goals of President Zelenskiy – an expansionary monetary policy and closer relations with the President. Last fall, Shevche...

The Rada is expected to approve Shevchenko. The Rada is expected to approve Shevchenko. But it is unclear if he will have the character to stand up to oligarchs who want their bankrupt banks back. In face of pressure that included death threats...

Kyiv’s state-owned Dnipro Hotel was sold by online auction yesterday to a real estate company for $41 million – 14 times the starting bid of $3 million. Kyiv’s state-owned Dnipro Hotel was sold by online auction yesterday to a real estate company for $41 million – 14 times the starting bid of $3 million. With 29 investors participating in the ProZorro...

Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. “The hotel will get a second life – the hotel will function,” pre...

Zelenskiy and other government officials hailed the sale of the 12-story Dnipro as the start of Ukraine’s “big” privatization – state companies worth over $10 million Zelenskiy and other government officials hailed the sale of the 12-story Dnipro as the start of Ukraine’s “big” privatization – state companies worth over $10 million. “Big privatization has sta...

The Hotel Ukraina, overlooking the Maidan, is to be the next state-owned hotel to go up for sale The Hotel Ukraina, overlooking the Maidan, is to be the next state-owned hotel to go up for sale. First, government lawyers have to break several legal “poison pills” that make the property unattracti...

During the first half of this year, a period that includes the height of the coronavirus lockdown, Ukraine’s exports of goods were down 6% yoy, and imports were down 12% yoy. During the first half of this year, a period that includes the height of the coronavirus lockdown, Ukraine’s exports of goods were down 6% yoy, and imports were down 12% yoy. The trade deficit shrivel...

With Gazprom moving to finish Nord Stream 2 gas line by the end of this year, Washington is preparing harsher sanctions in an effort to stop the project. With Gazprom moving to finish Nord Stream 2 gas line by the end of this year, Washington is preparing harsher sanctions in an effort to stop the project. “Get out now, or risk of the consequences,” US...

On July 9, Denmark’s Energy Agency approved that Gazprom’s request to complete the last 120 km of the pipeline using Russia’s anchor-stabilized pipelaying ship. On July 9, Denmark’s Energy Agency approved that Gazprom’s request to complete the last 120 km of the pipeline using Russia’s anchor-stabilized pipelaying ship. The agency says that in that section of...

The 26 nations of Europe’s Schengen Area will remain closed to Ukrainians for “the nearest future,” The 26 nations of Europe’s Schengen Area will remain closed to Ukrainians for “the nearest future,” Ukraine’s Foreign Minister Dmytro Kuleba tells segodnya.ua news site. The reason: Ukraine’s new coro...

Wednesday, July 15

The state railroad carried 9% less cargo during the first half of this year, The state railroad carried 9% less cargo during the first half of this year, compared to the same January-June period last year. Ukrzaliznytsia reports: exports were down 5.4%; imports were down 19.4%...

UIA reports that it carried half the air cargo during the first half of this year, UIA reports that it carried half the air cargo during the first half of this year, compared to the same January- June last year. Despite special flights carrying Covid protection gear from China this ...

Without a rebound in air travel, UIA may be forced to let go 900 employees, about one third of the current staff, Without a rebound in air travel, UIA may be forced to let go 900 employees, about one third of the current staff, Fomenko says in the same interview. He predicts that next year the airline, Ukraine’s ...

Austria is extending to July 30 its ban on air travel from 18 countries, including Ukraine. Austria is extending to July 30 its ban on air travel from 18 countries, including Ukraine. Tracking the evolution of the pandemic, Ukraine is adding Albania, Bulgaria and the Czech Republic to its li...

Setting an example: Horizon Capital CEO Lenna Koszarny has been recognized by Setting an example: Horizon Capital CEO Lenna Koszarny has been recognized by Emerging-Europe.com as ‘Emerging Europe’s No. 2 Female Business Leader’ for this year. Elena Hristova Marinova, pres...

IMF Managing Director Kristalina Georgieva spoke by telephone yesterday with President Zelenkiy and warned him: “It is in the interest of Ukraine to preserve the independence of [the central bank] and it is also a requirement under the current IMF-supported program IMF Managing Director Kristalina Georgieva spoke by telephone yesterday with President Zelenkiy and warned him: “It is in the interest of Ukraine to preserve the independence of [the central bank] and...

Central bank governor, Yakiv Smoliy, resigned July 1, complaining of “systematic” political pressure from the President’s office. Central bank governor, Yakiv Smoliy, resigned July 1, complaining of “systematic” political pressure from the President’s office. His abrupt resignation forced the Finance Ministry to abort what was s...

After the IMF call, Zelenskiy tweeted that he will present “an independent technocrat” as a candidate for a Rada vote on Friday, After the IMF call, Zelenskiy tweeted that he will present “an independent technocrat” as a candidate for a Rada vote on Friday, the last day before parliament’s breaks for a 6-week summer vacation. “...

Breaking a decade-old ban, the Rada passed a bill yesterday to legalize gambling. Breaking a decade-old ban, the Rada passed a bill yesterday to legalize gambling. Voted 248-95, on the second reading, the bill is expected to overcome final hurdles and go to Zelenskiy for his signat...

Ukraine’s opening up to legalized gambling has drawn the attention of the international trade press Ukraine’s opening up to legalized gambling has drawn the attention of the international trade press, with articles in I gaming business.com, and in Europeangaming.

Gambling could create “Klondikes” in depressed regions of Ukraine Gambling could create “Klondikes” in depressed regions of Ukraine, Mikheil Saakashvili, chairman of the National Reform Council, predicts on his Facebook page. A decade ago, as President of Georgia, S...

Radisson Hotel Group announced yesterday it plans to open in two years the Radisson Hotel Pechersk Park Kiev, a 167-room high hotel now under construction Radisson Hotel Group announced yesterday it plans to open in two years the Radisson Hotel Pechersk Park Kiev, a 167-room high hotel now under construction on a site with views of the Lavra and the Mot...

In a nationwide telephone poll completed Sunday, 34% of the 1,000 respondents said they believe government coronavirus numbers to be overestimated and 35% said they have not changed their work habits In a nationwide telephone poll completed Sunday, 34% of the 1,000 respondents said they believe government coronavirus numbers to be overestimated and 35% said they have not changed their work habits ...

Tuesday, July 14

Edward Cowan, former Washington economics editor for The New York Times Edward Cowan, former Washington economics editor for The New York Times, writes the UBN of Zelenskiy’s call for an 11% devaluation of the hryvnia and the Liga.net interview with IMF representative Goe...

A law capping government salaries at $1,750 a month will continue through the summer. A law capping government salaries at $1,750 a month will continue through the summer. Adopted three months ago, in solidarity with the corona lockdown, the cap increasingly was seen as an invitation t...

Zelenskiy’s effort last week to talk down the hryvnia has had little short term impact Zelenskiy’s effort last week to talk down the hryvnia has had little short term impact. Currently, the exchange rate is 27.10 hryvnia to the dollar, down 12 kopecks from 26.98, the rate last Wednesday...

Monster trucks figure on Metinvest’s $30 million shopping list for new equipment this year Monster trucks figure on Metinvest’s $30 million shopping list for new equipment this year at its Central Iron Ore Enrichment Works in Kryvyi Rih. The showpieces are BelAZ-75131 dump trucks. Considere...

On Oct. 1, Wizz Air plans to resume direct flights between Ukraine and the United Arab Emirates On Oct. 1, Wizz Air plans to resume direct flights between Ukraine and the United Arab Emirates, an air link it suspended several years ago. The low-cost carrier will fly twice a week between Odesa an...

Starting tomorrow, Starting tomorrow, Hungary bars entry from Ukraine and Romania, two neighbors classified as ‘red zone’s for coronavirus infections. Two weeks ago, Hungary and Ukraine opened four land border crossings...

Laboratories are to open at the airports of Kyiv and Lviv to test arriving passengers. Laboratories are to open at the airports of Kyiv and Lviv to test arriving passengers. Results are to be linked to the Diy Vdoma app, allowing visitors to cut short the 2-week self-isolation period.

Message du Redacteur Message du Redacteur: En ce jour du 14 juillet 2020, fête nationale française, je suis heureux d’annoncer que l’Ukraine Business News sera en français, grâce au travail sympathique de Loui...

France is implementing projects in Ukraine that total €1.5 billion, France is implementing projects in Ukraine that total €1.5 billion, French Ambassador Etienne de Poncins told reporters yesterday in a tradition press conference in advance of July 14, the French Nati...

Highlights: Highlights:

The Rada is scheduled to vote the Green Energy bill this week on the second reading. Failure could carry a high price tag The Rada is scheduled to vote the Green Energy bill this week on the second reading. Failure could carry a high price tag, one North American investor warns the UBN. If the government fails to pay $62...

The current central bank team will resist President Zelenskiy’s demand to print more money to create an artificial economic boomlet, The current central bank team will resist President Zelenskiy’s demand to print more money to create an artificial economic boomlet, Kateryna Rozhkova, acting governor of the National Bank of Ukraine,...

Home mortgages at 10% a year is the goal of a new “mass mortgage lending program” to be launched this fall by the National Bank of Ukraine, Home mortgages at 10% a year is the goal of a new “mass mortgage lending program” to be launched this fall by the National Bank of Ukraine, acting central bank head Roshkova tells Interfax-Ukraine. “I...

Monday, July 13

With Smoliy and his deputy, Oleh Churiy, out, the 7-member central bank board now risks losing its free market majority With Smoliy and his deputy, Oleh Churiy, out, the 7-member central bank board now risks losing its free market majority The Zelenskiy “administration’s plan [is] to remove all current members of the N...

As part of Zelenskiy’s push to drive down interest rates, the new state program “Affordable Loans 5-7-9%” has received applications from entrepreneurs for loans totaling $300 million As part of Zelenskiy’s push to drive down interest rates, the new state program “Affordable Loans 5-7-9%” has received applications from entrepreneurs for loans totaling $300 million. Zele...

Public opinion polls show majorities of Ukrainians are skeptical or hostile to IMF programs. Public opinion polls show majorities of Ukrainians are skeptical or hostile to IMF programs. Anti-IMF feeling is whipped up by pro-Russian TV stations – about half of Ukraine’s media market. Ihor Kolo...