Business

Business

Russia’s war may halve Ukraine’s economy, increasing budget deficit by billions

After Ukraine ended 2021 with a historically high gross domestic product (GDP) of $195 billion, top officials issued optimistic forecasts for the coming year. Then the war began, killing all of the country’s economic plans.  As of late April, the Russian military has destroyed 30% of Ukraine’s infrastructure, causing $100 ...
Business

Germany’s software giant SAP keeps its Russian clients despite claims it shut down cloud services in Russia

The German software giant SAP appears to have been hypocritical about its promises to stop providing cloud services to Russian clients over Russia’s war in Ukraine. According to a document obtained by the Kyiv Independent, just a day before the company’s public announcement to shut down its cloud services in ...
Business

Kyiv keeps supply chains open amid defense

A city at war needs more than just weapons.  To survive, a city needs uninterrupted access to food, medicine and other critical goods. While Kyiv has avoided the worst of Russia’s depredations, which have come close to razing Mariupol and Kharkiv to the ground, the capital city remains the key ...
Business

Zelensky announces ‘economic patriotism’ program, meets with top 50 businesses

Companies in Ukraine are about to receive temporary tax and legal relief amid growing threats of a full-scale war with Russia. On Feb. 22, Ukrainian President Volodymyr Zelensky announced a program on “economic patriotism,” which will ease the tax burden, including possibly reducing value-added tax from current 20% to 8% ...
Business, Opinion

Ukrainian State-Owned Enterprises Weekly – Issue 65

Editor’s Note: This is issue 65 of Ukrainian State-Owned Enterprises Weekly covering events from Feb. 12-18, 2022. The Kyiv Independent is reposting it with permission. Corporate governance in SOEs Ex-CEO Kobolyev says he did not receive full remuneration from Naftogaz – Naftogaz refutes, refers to Hr 600 million paid as Stockholm bonus. ...
Business, Opinion

Ukrainian State-Owned Enterprises Weekly – Issue 64

Editor’s Note: This is issue 64 of Ukrainian State-Owned Enterprises Weekly covering events from Feb. 5 – Feb. 12 2022. The Kyiv Independent is reposting it with permission. Corporate governance in SOEs The Ministry of Energy wants to change Ukrhydroenergo’s CEO.  In a letter to the Cabinet of Ministers of Ukraine seen ...
Business

Possible escalation in Ukraine may undermine global food security, provoke sky-high food prices

As Ukraine is facing the threat of a renewed, possibly all-out invasion by Russia, another risk arises. Dozens of countries, including Egypt, Yemen, Lebanon, Tunisia, Indonesia, Malaysia, and even China rely on Ukrainian harvests to feed their people.   The Middle East and Africa absorbed nearly 40% of Ukraine’s exports of ...
Business, Opinion

Ukrainian State-Owned Enterprises Weekly – Issue 63

Editor’s Note: This is issue 63 of Ukrainian State-Owned Enterprises Weekly covering events from Jan. 29 – Feb. 4 2022. The Kyiv Independent is reposting it with permission. Corporate governance in SOEs Ukraine has too many SOEs with unconventional legal forms. The State Statistics Service of Ukraine reported changes in the number ...