According to the Security Service of Ukraine (SBU), this marks the first time Ukrainian authorities have exposed a Hungarian military intelligence network conducting activities harmful to Ukraine.
George Simion, leader of Romania's far-right AUR party, who won the first round of the presidential election with nearly 40% of the vote, reiterated that if elected, he would oppose any further assistance to Ukraine and shift Romania’s focus inward.
Russian President Vladimir Putin and Chinese President Xi Jinping hailed their countries' relationship on May 8, vowing to increase cooperation in all areas, including military ties.
"There is Turkey, which maintains channels of communication. And then, above all, there is the People's Republic of China, which, more than anyone else, has the means to make (Russian President Vladimir) Putin come to the negotiating table and soften his demands," Polish Foreign Minister Radoslaw Sikorski said on May 8.
The United States will be ready to "walk away" from the negotiating table if it does not see Russia making progress in negotiation to end the war, U.S. Vice President JD Vance told Fox News on May 8.
Slovak Prime Minister Robert Fico arrived in Moscow on May 9 to celebrate Victory Day, commemorating the 80th anniversary of the defeat of Nazi Germany in World War II.
US President Donald Trump on May 8 called for a "30-day unconditional ceasefire" between Ukraine and Russia. Writing on Truth Social, Trump expressed his hope for "an acceptable ceasefire," with both countries "held accountable for respecting the sanctity of... direct negotiations."
President Volodymyr Zelensky had a "constructive" phone call with United States President Donald Trump on May 8, discussing the war, continued pressure on Russia, and a potential ceasefire.
The survey, conducted between April 24 and May 4, shows that 56.9% of respondents would not be willing to compromise on either territorial integrity or Ukraine’s pro-Western direction in any potential talks with Moscow.
U.S. Cardinal Robert Prevost was elected the new pope and leader of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced on May 8 to crowds gathered in St. Peter’s Square, according to Vatican News.
Microloans may be fast and easy to get but their interest rates are high and add up quickly. (Pixabay)
Ukrainian households borrowed roughly $1.8 billion (Hr 49 billion) in microloans between January and October 2021, according to Opendatabot. That’s $10 million more than in all of 2020.
The average loan amounted to $165 (Hr 4,500). These kinds of small loans are heavily advertised on Ukrainian TV channels, promising easy money for borrowers to make ends meet or buy expensive gadgets.
About 85% of these kinds of loan agreements are reached online. The market is exploding: in 2021, about 1.2 million loans were issued per month, compared to 983,000 in 2019.
However, despite their convenience, interest rates on microloans can add up to a staggering 510% per year on average, according to a study by the United States Agency for International Development. Borrowers often overlook this fact, thinking they can pay the money back quickly.
As a result, the total debt for overdue microloans has increased by 5% to $570 million in the first nine months of 2021.
Alexander Query is a reporter at the Kyiv Independent. He is the former business editor at the Kyiv Post. He worked as a TV correspondent and an anchorman at UATV in Ukraine, and received a BA in modern literature from La Sorbonne, in Paris.
