The hryvnia is expected to weaken slightly in 2024, yet the year’s average rate will likely reach 37.3 hryvnias per dollar, compared to 36.5 in 2023, investment company Dragon Capital’s* Chief Economist, Olena Bilan, said at the RAU Summit 2023 in Kyiv on Dec. 5. External support will lead to an increase in the gold and foreign … Read more
President Volodymyr Zelensky on Dec. 6 signed into law a bill that increases the profit tax for banks from 18% to 50% in 2023 and sets the rate at 25% starting from 2024. Funds from the increased tax rate will be directed towards Ukraine’s military expenses. Forbes reported on Nov. 13, citing undisclosed sources, that Ukrainian authorities were considering … Read more
Ukraine’s energy system remains robust despite adverse weather and repeated Russian attacks, Ukraine’s Prime Minister Denys Shmyhal announced during a government meeting on Dec. 5. Despite the formidable challenges posed by both extreme weather and Russian aggression, Shmyhal underscored that Ukraine’s energy infrastructure remains steadfastly balanced. He reassured the public that no power outages are … Read more
German arms manufacturer Rheinmetall AG wants to build its first armored vehicles in Ukraine next year, concern’s chief executive officer Armin Papperger said, Reuters reports. Papperger said he expected a deal with Ukraine on the construction of Fuchs armored transport vehicles – named after the German word for fox – and Lynx infantry fighting vehicles … Read more
The share of non-performing loans (NPLs) in the Ukrainian banking sector as of Nov. 1, 2023 amounted to 37.7%, compared to 37.9% as of Oct. 1, although their total value had actually increased, Ukraine’s National Bank has revealed. “The share of NPLs in the banking sector as of Nov. 1, 2023, was 37.7%, which is … Read more
Kyiv returned to the ranking of the most expensive cities to live, taking 132nd place out of 173, according to a study by the Economist Intelligence Unit (EIU). According to their report, in 2022, the Ukrainian capital was not included in the ranking due to Russian aggression, and in 2021 it ranked 118th. Due to … Read more
Ukraine is planning to reopen the Kyiv-Boryspil Airport first, but only after security issues related to the ongoing war are resolved, Deputy Head of the Presidential Office Andrii Sybiha said on Dec. 1. During a meeting with foreign diplomats, Sybiha recalled that Boryspil Airport was the first to close at the beginning of the full-scale … Read more
The Verkhovna Rada of Ukraine, after consideration, rejected both draft resolutions to cancel its decision of November 9 to adopt at the final reading draft law No. 10016-d on amending the Tax Code and the law on the collection and accounting of single social security tax on the resumption and expansion of tax audits. As … Read more
Synchronisation of the Ukrainian and European energy systems has been successfully completed, the European Network of Transmission System Operators for Electricity (ENTSO-E) reported. “The Continental European TSOs are pleased to announce that Ukrenergo, the Ukrainian TSO, has achieved compliance with the key technical requirements necessary to enable a permanent interconnection between the power systems of … Read more
Oil and gas company JKX Oil&Gas LTD with assets in Ukraine notified that Ihor Kolomoisky has lost control in the company. “JKX has received confirmation from the Registrar of Corporate Affairs in the British Virgin Islands (BVI) that Eclairs Group Limited (EGL), having BVI company number 1753610, was struck off the register on November 1, … Read more