Rinat Akhmetov’s SCM Financial and Industrial Holding has sold its Parallel fuel filling station network, according to Encorr, an online industry publication citing sources. According to the publication, the buyer was not an active player in the retail market, but either a wholesale trader or the owner of a small network wishing to develop this … Read more
The National Bank of Ukraine (NBU) on September 24 made a decision to revoke the banking license and liquidate Bank Arcada (Kyiv), according to the regulator’s website. “The NBU, at the suggestion of the Deposit Guarantee Fund, made a decision dated September 24, 2020 under No. 601-RSh to revoke the banking license and liquidate Bank … Read more
Morgan Stanley analysts believe that the plans of the Ukrainian government to finance the lion’s share of the UAH 208 billion deficit provided for in the draft state budget 2021 in the domestic market through the placement of government bonds are overstated, which, in their opinion, increases the likelihood of unscheduled placements of eurobonds and … Read more
The owner of Novus Ukraine LLC, Consul Trade House UAB, has signed an agreement with Rewe International AG on the acquisition of a 100% stake in the charter capital of Billa-Ukraine, an enterprise with foreign investment, which develops the Billa supermarket chain in Ukraine. “Novus Ukraine LLC and Billa-Ukraine will continue to work as usual, … Read more
The hryvnia will devalue to UAH 29-30/$1 at the end of 2020, and by the end of 2021 it will be UAH 29.50-30.50/$1, Head of Corporate Research at ICU investment group Oleksandr Martynenko has said. “We expect that at the end of the year it will be the range of UAH 29-30/$1. Next year, the … Read more
The Cabinet of Ministers of Ukraine at a meeting on September 9 approved the provisions of the bill on amendments to the law on automobile transport in order to approve the definitions “electric vehicle” and “electric charging infrastructure.” According to the text of the said bill, promulgated during the government meeting, the terms defined are … Read more
The Ukrainian Cabinet of Ministers has approved a decree on the implementation of the National Operator in the Tobacco Products Market pilot project. “On behalf of the minister, please, put the Cabinet of Ministers’ draft decree on the implementation of the National Operator in the Tobacco Products Market pilot project on the agenda,” Deputy Minister … Read more
Skyrizon, a subsidiary of Beijing Xinwei Technology Group, and DCH Group of Ukrainian businessman Oleksandr Yaroslavsky will soon submit an updated joint application to the Antimonopoly Committee of Ukraine (AMC) for the purchase of PJSC Motor Sich, Xinwei said in a statement on the Shanghai Stock Exchange. According to it, the AMC on August 20 … Read more
State-controlled bank PrivatBank in January-July 2020 continues to top the list of profitable Ukrainian banks with a financial result of UAH 16.2 billion, while the largest loss since April 2020 has been recorded by state-owned Ukreximbank (UAH 2.24 billion), according to data posted on the website of the National Bank of Ukraine (NBU). According to … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘B’ with a stable outlook, the rating agency said on its website. “The ratings of Ukraine reflect its credible macroeconomic policy framework that had lowered inflation and narrowed fiscal deficits prior to the coronavirus shock, and a record of multilateral support. These … Read more