Editor’s Note: This is issue 150 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 29 – Oct. 5, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Cabinet completes the composition of UDI’s supervisory board. On Oct. 4, the Cabinet of Ministers appointed Timur
Austria-headquartered Raiffeisen Bank International (RBI) agreed to sell its stake in its Belarusian subsidiary Priorbank, marking the first step toward fully withdrawing from the Belarusian market, RBI announced on Sept. 20.
The International Monetary Fund's (IMF) planned visit to Russia has been "postponed indefinitely," Russian state-controlled news agency TASS reported on Sept. 17.
Editor’s Note: This is issue 147 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 8-14, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Former Ukrenergo’s CEO Kudrytskyi interviewed. Volodymyr Kudrytskyi, who was dismissed as Ukrenergo’s CEO on Sept. 2, was interviewed
The following is the Sept. 10, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. French billionaire Xavier Niel’s investment company NJJ Capital on Sept. 9 closed a deal to merge two
Editor’s Note: This is issue 146 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 1-7, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Ukrenergo’s supervisory board dismisses CEO Kudrytskyi despite objections of international partners; two independent board members step down due to
Ukrainian banks continue posting record profits, earning nearly Hr 120 billion ($2.9 billion) in the first seven months of 2024. The result is 22% higher than the same period last year, analytics website Opendatabot reported. As the Kyiv Independent previously reported, Ukrainian banks are enjoying an influx of cash,
The last IMF mission to Russia was in 2019, before the Covid-19 pandemic. "We were excluded from this process under pressure from our Western 'friends,' and there were no further missions in 2022-23," the IMF's Russian Executive Director Aleksei Mozhin said.
Chinese banks are shutting down transactions with Russia over worries about losing access to the U.S. dollar and being cut off from the international financial markets, experts told the Kyiv Independent. The U.S. issued an executive order in December 2023 warning that it would sanction any foreign financial
"Money transfers through Russian banks, including Sberbank, Tinkoff, and MTS, have been suspended in both directions. This service is unavailable indefinitely," the bank's statement read.
A massive denial of service (DDoS) attack targeted Monobank, launching one billion service requests at the company's website in three hours.
Russia’s central bank canceled the banking license of American Express Co.'s Russian subsidiary on Aug. 13, following the unit's voluntary liquidation request.
Much of the cash arrived in Russia via third-party countries such as the United Arab Emirates and Turkey, which have declined to join in such currency-related sanctions against Russia.
Russia is on track for an intense economic slowdown due to significant labor shortages and constraints placed on the key sectors that backed growth until now, Bloomberg reported on Aug. 9.
It was the night before Alyona Mysko’s birthday when she got the word from her financial manager. The founder of software company Fuel that provides financial planning for startups, Mysko was, she says, still working at home in Kyiv well into the night of July 22 when she learned
The wide-reaching DDoS attack began on July 23 and disrupted the services of Russia's top banks, social networks and messengers, government websites, and more. Russian media widely reported on the problems experienced by users across the country.
According to sources cited by Kommersant, Chinese banks routinely let Russian yuan payments delay for several weeks before ultimately rejecting them, often without providing a reason.
Hungary's record loan came amid a record increase in its public debt to 140 billion euros ($152 billion), 73.5% of GDP, and a budget deficit of 6.7% of GDP, while the country has no access to European Union funds due to the conflict with Brussels.
Russian media reported on July 24 that several top banks, including Raiffeisen, Gazprombank, VTB, and Alfabank, were experiencing outages. Social networks, payment systems on public transport, and some airlines were also reportedly impacted.
Earlier in the day, Russian media reported on outages from several top banks, including Raiffeisen, Gazprombank, Rosselkhozbank, and Rosbank. The outages also reportedly impacted social networks, payment systems on public transport, and some airlines.
A global outage in IT systems affected Sense Bank, one of Ukraine's largest banks, and Vodafone Ukraine on the morning of July 19.
The suspects, with the help of an employee of the Regional Bureau of Forensic Medicine, stole payment cards and mobile phones registered in the online banking system from dead soldiers in a morgue.
According to Kommersant's sources, Bank of China will refuse to accept payments from any sanctioned Russian bank starting on June 24.
After Vladimir Putin's visit to China, specially authorized smaller banks in border regions have enabled Russian entities to set up non-resident accounts with Chinese banks, Reuters wrote.
Ukraine's IT Army, a volunteer cyberwarfare group, said it had targeted Russian banks and Russia's Mir payment system on June 20, rendering a range of services "non-functional."
Mbank, Kompanion Bank, RKS Bank, Kyrgyz-Swiss Bank (KSB), Kyrgyzcommerzbank, and Keremet Bank have imposed various restrictions on transfers using Russian payment systems.
The U.S. State and Treasury departments issued what they called a "sweeping" set of sanctions against Russia and its financial backers on June 12, in the latest move to try and degrade Moscow's wartime economy. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of
Ukraine’s banks are flush with cash. An influx of foreign aid, high interest rates on government bonds, pay rises for soldiers, and central bank policies after the start of the full-scale invasion boosted the sector's profits to 40.5 billion hryvnia ($1 billion) in the first three months of
The NBU's international reserves have fluctuated significantly since the beginning of Russia's full-scale war, dropping as low as $22 billion in July 2022.
Laurent Dupuch has weathered not one but two storms over the past few years as CEO and country manager of one of Ukraine’s largest banks Ukrsibbank. He arrived in Ukraine after almost seven years as CEO of the bank’s Morocco operations at the beginning of March 2020, right
The court ruled that UniCredit could offer Russian sovereign bond holdings instead of assets to satisfy the seizure order.
In particular, the allies are considering steps against banks using SPFS, Russia's alternative to the SWIFT messaging system, to circumvent trade restrictions, the outlet said.
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