DTEK CEO Maksym Tymchenko signed a memorandum of understanding with Masdar, Mubadala’s renewable energy company.

DTEK CEO Maksym Tymchenko signed a memorandum of understanding with Masdar, Mubadala’s renewable energy company. Masdar CEO Mohamed Jameel Al Ramahi noted that Masdar has projects in 30 countries and added: “Our business model is based on forging strong partnerships in the sectors and geographies in which we operate, and we look forward to exploring potential areas of collaboration with DTEK in Ukraine.”

Abu Dhabi is setting a goal of “increasing trade and investment in agro with Ukraine 10 times over several years, that is, to bring it to $2 billion a year,”

Abu Dhabi is setting a goal of “increasing trade and investment in agro with Ukraine 10 times over several years, that is, to bring it to $2 billion a year,” Zelenskiy economic advisor Timofei Milovanov wrote on Facebook after meeting Sunday with Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of the UAE. To implement this, Roman Leschenko, Ukraine’s new Agriculture Minister, signed a bilateral food trade and ‘agro hub’ memorandum with UAE’s Ministry for Food and Water Security.

Dubai Ports World showed President Zelenskiy their proposal to create several new terminals in Yuzhny, Ukraine’s busiest port.

Dubai Ports World showed President Zelenskiy their proposal to create several new terminals in Yuzhny, Ukraine’s busiest port. DP World has drawn up plans to build terminals for general grains, minerals, timber, liquid and roll-on/roll-off. Last June, DP World bought a majority stake in Yuzhny’s TIS Container Terminal.  At yesterday’s meeting  at Dubai Maritime City, Zelenskiy invited DP World to build a hotel/marina in Odesa and to participate in upcoming concession tenders for four state-owned ports.

Ukraine’s trade deficit in goods and services shriveled last year to $255 million –  93% below the level of 2019

Ukraine’s trade deficit in goods and services shriveled last year to $255 million –  93% below the level of 2019, reports the State Statistics Service. The most dynamic factor was the 12.5% drop in imports of goods, to $59.3 billion. Exports of good fell by a smaller amount, by 7.8%, to $59.04 billion.

Asia was Ukraine’s fast growing export market

Asia was Ukraine’s fast growing export market, the Economy Ministry reports on its website. “The most important indicators are the phenomenal growth of exports of Ukrainian products to Vietnam and China – by 93% and 98%, respectively,” Economy Minister Igor Petrashko. For the first time in several years, exports to the EU decreased, dropping by 10%. Ukraine trade deficit with the EU grew to $4.8 billion.

Ukraine’s economy returned to normal at the end of last year with fourth quarter GDP down only 0.7%

Ukraine’s economy returned to normal at the end of last year with fourth quarter GDP down only 0.7% below the fourth quarter of 2019. Despite the weekend lockdowns in November, consumer demand was a major force in pulling economic activity back to normal, the Economy Ministry reported on Facebook. Real wages were up 9.6% yoy.

No IMF tranches “

No IMF tranches “will not be a catastrophe” for Ukraine, Danylo Hetmantsev, chairman of the Rada’s Committee on Tax and Customs Policy, told reporters yesterday. On Saturday, the IMF announced that it would take a break in reviewing Ukraine’s Standby Arrangement, after six weeks of remote conversations. “It will be much harder for us to pass 2021 without the next tranche of the IMF, but it will not be a catastrophe in any case,” he said. “We have the right resources. We

The Cabinet of Ministers submitted a bill to the Rada yesterday to fire Artem Sytnyk, head of the National Anti-Corruption Bureau of Ukraine, or NABU.

The Cabinet of Ministers submitted a bill to the Rada yesterday to fire Artem Sytnyk, head of the National Anti-Corruption Bureau of Ukraine, or NABU. Funded largely by the EU and the US, the bureau is key to Ukraine continuing to receive foreign aid. The Kyiv Post reports anti-corruption activists charge that Sytnyk is to be fired because he angered President Zelenskiy by pursuing a bribery case against the president’s deputy chief of staff, Oleh Tatarov, and for investigating possible

A total of $3 billion worth of deals and memorandums were signed over the last two days by Ukrainian company executives and officials in the United Arab Emirates

A total of $3 billion worth of deals and memorandums were signed over the last two days by Ukrainian company executives and officials in the United Arab Emirates, the third largest economy in the Middle East, after Turkey and Saudi Arabia. President Zelenskiy led a delegation of executives from 18 Ukrainian blue chip companies, including: BGV, DTEK, Dragon Capital, Epicenter, EastOne, Fortior, Horizon Capital, Interpipe, Mais, Metinvest, Oschadbank, OdesaGas, TAS Group, UMG, and Unit.City.

After Sunday’s defense production deals, most of yesterday’s contracts were signed with Mubadala Investment Fund, the oil-rich nation’s sovereign wealth fund

After Sunday’s defense production deals, most of yesterday’s contracts were signed with Mubadala Investment Fund, the oil-rich nation’s sovereign wealth fund. With $232 billion in assets under management, Mubadala aims to double in size in this decade to half a trillion dollars, Bloomberg reported last month. “[This] plan will vault it into the top ranks of the world’s sovereign wealth funds,” Bloomberg reported in a story headlined: “Abu Dhabi’s $232 Billion Mubadala Wants to Take Crack at Top 10.” To

“Ukraine has very promising potential for foreign investment

“Ukraine has very promising potential for foreign investment, and the signing of memorandums with leading entities of Ukraine represents a commitment to explore potential investments and areas of cooperation on a case-by-case basis,” Faris Al Mazrui, head of the fund’s investment program for post-Soviet countries, told WAM, the Emirates’ news agency. “We are impressed by the quality and caliber of Ukrainian businesses.”

“Ukraine can and will become a guarantor of food security in the Emirates,” Zelenskiy told WAM, the Emirates News Agency

“Ukraine can and will become a guarantor of food security in the Emirates,” Zelenskiy told WAM, the Emirates News Agency, shortly after arrival on Saturday. “We are among the world leaders in the export of wheat, corn and barley.”  With a population of 10 million, the Emirates has an economy three times bigger than Ukraine’s, but imports 85% of its food — $2 billion worth last year. Last year, Ukraine exported $252 million worth of food to the UAE. Zelenskiy

The six-month Expo ideally will promote Emirates investment and tourism in Ukraine

The six-month Expo ideally will promote Emirates investment and tourism in Ukraine, Zelenskiy said. In 2019, 250,000 Ukrainians flew to Dubai, the Emirates’ largest city, using four airlines – flydubai, UIA, SkyUp and Air Azur Ukraine. Zelenskiy said 15,000 Ukrainians live in the Emirates and 200 Ukrainian companies have offices there.

The European Investment Bank will lend €270 million to rebuild Boryspil airport’s 50-year-old western runway

The European Investment Bank will lend €270 million to rebuild Boryspil airport’s 50-year-old western runway, the EU bank announced Friday at its Luxembourg headquarters. In addition to replacing the obsolete 3,500 meter long concrete runway, the 20-year loan will go to improving de-icing, airfield lighting, and instrument landing. Looking beyond today’s coronavirus travel restrictions, Prime Minister Shmyhal said in Luxembourg: “The loan signed today for Boryspil International Airport will ensure the development of infrastructure and strengthen the position of the international hub.”

After six weeks of remote talks, an IMF team in Washington suspended its work Friday with Ukraine

After six weeks of remote talks, an IMF team in Washington suspended its work Friday with Ukraine, awaiting “more progress.” Needed steps include adopting legislation to restore anti-corruption bodies, cleaning up the courts and phasing out price controls on natural gas. Goesta Ljungman, the IMF representative in Kyiv, said: “The discussions were productive, but more progress is needed to support completion of the first review under the program. Discussions will continue.”

Tim Ash writes from London

Tim Ash writes from London: “It’s always a frustration in Ukraine that in times of flush global market liquidity reform momentum stalls…Markets can of course turn… Ukrainian policy makers would thus be well advised not to bet everything on markets remaining open to them this year, and to try and get back to proper talks with the IMF ASAP.”

In response, President Zelenskiy promised to submit to the Rada this week needed

In response, President Zelenskiy promised to submit to the Rada this week needed draft bills to improve the judicial system and “insist” lawmakers debate them “quickly.” Finance Minister Serhiy Marchenko emailed Bloomberg to say: “Ukraine remains committed to its reforms agenda and fruitful partnership with the IMF.” Underlining the lack of urgency, presidential advisor Timofiy Milovanov, a supporter of reforms, told Interfax-Ukraine: “Financial and macroeconomic stability is maintained. There are no systemic risks. The situation with the budget is normal.”

Russian sanctioned eight more Ukrainian companies Friday, raising the total to 84.

Russian sanctioned eight more Ukrainian companies Friday, raising the total to 84. The new decrees includes: vessel maker Craneship, towage firm Donmar, cargo operator Transship and metal producer Maxima Metal. Last year, Russia added former President Petro Poroshenko and rock singer politician Svyatoslav Vakarchuk to its list of sanctioned Ukrainians, raising the total to 35.

Yuriy Gusev, Ukroboronprom’s director general, yesterday signed $1 billion worth of agreements and contracts in the United Arab Emirates

Yuriy Gusev, Ukroboronprom’s director general, yesterday signed $1 billion worth of agreements and contracts in the United Arab Emirates with the country’s two leading military equipment manufacturers, the EDGE Group and Tawazun Economic Council. “We are delighted with the opportunities for the UAE and Ukraine to cooperate, exchange and benefit from the military and the technical capacity of the two countries,” said EDGE CEO Faisal Al Bannai, according to Zelenskiy’s presidential website.

Nicknamed “Little Sparta”

Nicknamed “Little Sparta” by former US Defense Secretary James Mattis, Sunni-dominated UAE is a close ally of Saudi Arabia and faces Shia Muslim Iran across the Strait of Hormuz. Government-owned EDGE specializes in drones, long range missiles, cyber defense, and electronic warfare. It has 12,500 employees and $5 billion in annual revenues. The Stockholm International Peace Research Institute ranks EDGE 22nd in its list of world’s largest arms companies. SIPRI researcher Pieter Wezeman writes: “EDGE is a good illustration of how

With the UAE’s Hope probe now in Mars orbit, Ukrainian space and high tech companies could contribute to boosting bilateral trade

With the UAE’s Hope probe now in Mars orbit, Ukrainian space and high tech companies could contribute to boosting bilateral trade, Zelenskiy said yesterday in a meeting with Sheikh Muhammad bin Zayed Al Nagayan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The two countries vowed to increase trade “several times” from the 2019 level of $1.65 billion. Zelenskiy said high level Ukrainian delegations are coming to the Emirates for two big trade fairs