After a "very difficult couple of weeks" due to record-breaking heat and power plants being under repair, Ukraine's energy supply situation is improving, Volodymyr Kudrytskyi, the head of state grid operator Ukrenergo, said on July 26.
Russia's Central Bank announced on July 26 that it is to raise the interest rate from 16% to 18%, as the Russian economy continues to experience accelerated inflation amid its war in Ukraine.
These companies are owned by oligarchs with ties to the Russian defense industry, and they have funneled millions of chips and sensors to sanctioned defense tech firms in Russia.
The Group of Seven (G7) will likely finalize a framework agreement for a $50 billion loan for Ukraine backed by frozen Russian assets revenue by October, EU Economic Commissioner Paolo Gentiloni said on July 25.
Editor’s Note: This is issue 141 of Ukrainian State-Owned Enterprises Weekly, covering events from July 14-20, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs PrivatBank appoints a new CFO. On July 15, PrivatBank reported that Larysa Chernyshova will serve in this role starting Sept.
The Slovak leadership also threatened unspecified repercussions against Ukraine, reminding Slovakia's key role as an electricity supplier amid Ukraine's energy deficit.
The following is the July 23, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Decentralizing a power grid is a
Editor’s note: This is issue 65 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 8-14, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
Decentralizing a power grid is a huge undertaking, even in peace times. Countries around the globe are nevertheless shifting toward “decentralization” – or generating smaller amounts of energy closer to where it is used, rather than in large, centralized hubs. For most, the goal is producing greener energy or building grid
The Indonesian state-owned refinery Pertamina has included Russian crude oil grades in its September tender lists for purchase, Reuters reported on July 23, citing three traders.
For many — Ukrainians and non-Ukrainians alike — Ukrainian cuisine might seem the antithesis of fine dining: greasy and meaty comfort food, the provenance of moms and grandmothers. The owners of the Ukrainian neo-bistro Mriya, which means “dream” in Ukrainian, located in central London, share anything but this perspective. Opening after the
Based on the deal, Ukraine stands to save $11.4 billion over the next three years and $22.75 billion by 2033, Prime Minister Denys Shmyhal explained.
Buyers suspected of links to Russia are buying up dozens of vessels capable of carrying liquified natural gas (LNG), possibly signaling an expansion of its "ghost fleet" of tankers, the Financial Times (FT) reported on July 22.
Naftogaz, Ukraine's state-owned oil and gas company, has accumulated 10 billion cubic meters (bcm) of gas reserves for the upcoming winter period, the company said on July 22.
"Slovakia doesn't intend to be a hostage to Ukrainian-Russian relations," Slovak Prime Minister Robert Fico reportedly said.
Ukraine and the EU have approached Azerbaijan to discuss supplying natural gas to Europe via Ukraine once an existing contract with Russia expires at the end of 2024, President Ilham Aliyev said, Bloomberg reported.
The Dragon Capital investment group announced on July 19 that it has withdrawn from the shareholding of Arricano Real Estate PLC, which manages one of the biggest shopping malls in Ukraine.
Proposed by President Volodymyr Zelensky's Servant of the People party, the legislation seeks to postpone payments of international sovereign debt and state-guaranteed obligations past its August deadline.
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 following is the July 16, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. With Ukraine desperately seeking cash to
Ukraine's hardened sanctions against Lukoil, Russia's second-largest oil producer, has stopped the company's deliveries to Hungary, Hungarian Foreign Minister Peter Szijjarto claimed on July 16.
The data analyzed by RBC indicated that seven of the 10 countries with the highest increase in vacancies posted by Russian companies were in Africa.
The sum, which Ukraine hopes to receive by the end of the year before a potential return of Donald Trump to the White House, includes a $20-billion pledge by the U.S. and the EU each, Kyodo News wrote.
A key goal of the investment is to help create strategic natural gas reserves at Naftogaz, Ukraine's state-owned energy company.
Editor’s Note: This is issue 140 of Ukrainian State-Owned Enterprises Weekly, covering events from July 7-13, 2024. The Kyiv Independent is reposting it with permission. Energy sector Naftogaz Group pays Hr 47 billion ($1.1 billion) in taxes for January-June 2024, the company’s press office reported on July
Editor’s note: This is issue 64 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 8-14, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
The Bureau of Economic Security (BEB) is preventing the work of a body armor manufacturer due to suspicions of tax evasion, Forbes Ukraine reported on July 16.
The government has been providing support to a wide spectrum of consumers, ranging from individual households to businesses, to facilitate additional energy generation, Prime Minister Denys Shmyhal said.
The hryvnia exchange rate on the interbank foreign exchange market surpassed Hr 41 per dollar on the morning of July 12.
With Ukraine desperately seeking cash to fund its defense and wartime budget needs, the country is running out of time before an August 1 deadline to agree with creditors on what portion of its foreign debt will be written off as a so-called “haircut.” In 2022, Ukraine and its creditors
"Due to the high adaptability to difficult conditions and experience in responding to such challenges, the Ukrainian economy continued to grow" in June, said Economy Minister Yulia Svyrydenko.
Attracting investments through industrial parks has driven GDP growth and tripled exports in Turkey, exceeding $350 billion annually. In South Korea, enterprises in industrial parks have accounted for up to 72% of exports and employed 48% of the population. China's industrial and technology parks contribute about 23% of its GDP.
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