Old Patterns, New Stories: A new collection inspired by Kyiv’s embroidery

Shop Now

Business news

Created in collaboration between Kyiv Independent and KPMG Ukraine Gateway
An investor’s guide to
UKRAINE
Learn more
A Pepsi logo is displayed in English and Russian in Moscow, Russia, undated.
Business

PepsiCo said it would leave Russia. Last year, it paid $237 million to the state

by Toby Woodall

In response to Russia's full-scale invasion, PepsiCo announced it would suspend production and sales in Russia in March 2022 — and yet, last year it still paid $237 million in income tax to the Russian state. PepsiCo, one of the largest food and drink producers in the world, remains Russia's fourth-largest foreign business — with 60,000 workers and 19 factories still producing Pepsi Cola for Russian shelves under new names, Lyubimaya Cola and Evervess Cola. That continued presence means more m

News Feed

'I'm skeptical' — Ukrainian soldiers react to Fedorov's bombshell election video

Former Defense Minister Mykhailo Fedorov dropped a bombshell of a video on Aug. 18, calling for elections in Ukraine and becoming by far the most high-profile person to advocate for such a move during Russia's full-scale invasion. In an address posted on YouTube, Fedorov said Ukraine needs a "legal, safe, and realistic mechanism" for holding elections during a prolonged war while ensuring voting rights for military personnel, Ukrainians abroad, and people living in front-line regions. "We must

Another major corruption probe hits Zelensky's office, as investigators charge his deputy chief of staff

Editor's note: This story is being updated. The National Anti-Corruption Bureau (NABU) is searching the premises of Iryna Mudra, a presidential deputy chief of staff, and Vadym Stolar, a member of parliament, a law enforcement source familiar with the investigation told the Kyiv Independent on Aug. 19. Mudra was charged by the NABU, her lawyer Artem Krykun-Trush told the media outlet Suspilne. The latest investigation comes as the NABU steps up its anti-corruption efforts. It follows last ye

Ukraine war latest: 103 POWs returned home in latest exchange with Russia

Key developments on Aug. 19: * Ukraine brings home 103 POWs in latest exchange with Russia * Russian drone strike on police headquarters in Zhytomyr kills 2, injures at least 20 * Deadly drone strike hits minibus in Kherson as Russian attacks kill 17, injure 54 across Ukraine over past day * Ukrainian drones reportedly target oil refinery in Russia's Ufa, attack Tula, Nizhny Novgorod oblasts * Ukraine hits rocket and space center, aircraft plant in Russia's Samara Oblast, General Staff con

Putin shouldn't decide when Ukraine votes — but political ambition shouldn't either

With his latest statement, former Defense Minister Mykhailo Fedorov appears to have reinvigorated a dangerous debate about elections in wartime Ukraine. "We must not let Putin decide when Ukrainians can choose their government," Fedorov said, adding that democracy is "part of what we are fighting for today." The principle is difficult to dispute. Yet a prolonged war of attrition places extraordinary strain on both the state and society, demanding that Ukraine's political leadership exercise th

A Ukrainian soldier checks a voting booth at a damaged school in Zagradivka, Ukraine, on May 8, 2022.

About Business

The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

Most Popular

1.

Two large and heavily armed states locked in an existential armed struggle. Hundreds of thousands of casualties. Mass mobilization. Systematic long-range strike campaigns against the enemy's economy and infrastructure. Defense budgets swallowing huge proportions of state spending. All these factors evoke an image of "total war" — the kind of interstate conflict where state, society, and economy are all not only an active part of the war effort but also a target of enemy strikes. Russia's full-

News Feed