The shares of Kryvy Rih Iron Ore Plant owned by the Ukrainian businessman have changed the owner, NV Business reports, citing the London court decision. According to the report, Kolomoisky sold 50% of the mine in Kryvy Rih for $926 million to Russian citizen Mikhail Voevodin – allegedly, the businessman concluded such an unusual agreement … Read more
The Appeals Chamber of Ukraine’s High Anti-Corruption Court has approved the confiscation of all assets of Demurynskyi Mining and Processing Plant LLC, owned by Russian citizen Mikhail Shelkov, in favor of the state, the Economic Security Bureausaid on Feb. 6. The Economic Security Bureau, together with Ukraine’s SBU security service, also expropriated the company’s movable and … Read more
President of the European Commission Ursula von der Leyen invited Ukraine to take part in the system of joint gas purchases. “We are inviting Ukraine to our Energy Platform for joint purchasing of gas. We want to make best use of our joint market power,” she said at a joint press conference with Ukrainian President … Read more
Ukraine’s National Agency on Corruption Prevention or NACP has declared U.S. multinational consumer goods corporation P&G (Procter & Gamble) an international sponsor of war, according to the agency’s list of such sponsors, published on the official website. The corporation was added to this list because it continues to operate in Russia, according to Ukraine’s Economic Security Council, … Read more
Ukrainian IT company Intellias has announced the opening of a new development center in Pune, India. The company also plans to hire about 100 IT specialists in Java, Scala, .Net, C++, and other technologies. The company announced this on its website. Local engineers will work on solutions for mobility, telecommunications and media, financial services and … Read more
The United States International Development Finance Corporation (DFC) is looking to mobilize $250 million for banks in Ukraine to expand small business lending in the country, DFC CEO Scott Nathan said during his visit to Kyiv on Jan. 31. “I’m here in Kyiv today because we are investing now to help keep Ukrainian businesses moving … Read more
Ukraine’s economy has shrunk by more than 35% in 2022 due to Russia’s full-scale invasion of Ukraine, reads the UN World Economic Situation and Prospects 2023 Report presented by Under-Secretary-General for Economic and Social Affairs Li Junhua on Jan. 25. The UN recorded a monthly budget deficit of $5 billion in Ukraine over the last … Read more
Alcohol production in Ukraine last year grew by 12% compared to 2021, while tax collections to the budgets of all levels from this excisable product in the second half of 2022 rose by 13% compared to the same period a year earlier. Head of the parliamentary committee on finance, tax and customs policy, Danylo Hetmantsev … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC,’ the agency reported on Jan. 20. “The affirmation of Ukraine’s Long-Term Foreign-Currency IDR at ‘CC’ reflects Fitch’s view that a further foreign-currency commercial debt restructuring is probable, given the magnitude of economic damage from the war with Russia and resulting large fiscal needs in … Read more
Metal production levels at the ArcelorMittal Kryvyi Rih steel mill fell fivefold in 2022, the company’s Chief Executive Officer Mauro Longobardo has said, reporting last year’s results. “Because of full-scale war in Ukraine, decrease in export opportunities and limitations of power supply, production capacities of ArcelorMittal KryvyiRih (AMKR) were loaded by not more than 20-25% … Read more