Russia’s seaborne oil flows look as if they are moving higher in January 2023, the BlackSeaNews news portal wrote on Jan. 29, quoting the monitoring group of the Institute of Black Sea Strategic Studies. According to preliminary estimates by experts, sea exports of Russian crude oil from the Black Sea in January 2023 will increase significantly. “Russia … Read more
Kernel Agricultural Holding has acquired the OilExportTerminal in Pivdennyi port, the company announced in a Facebook post on Jan. 25. Kernel CEO Yevhen Osypov called the new asset strategically important for the company, given the lack of oil transshipment at Mykolaiv terminals. In the 2019-2022 marketing years, Mykolaiv accounted for about half of the total … Read more
The National Bank of Ukraine (NBU) has improved its inflation forecast for 2023 to 18.7%, down from from 20.8%, the press office of the central bank said on Jan. 26in a report on the financial situation in Ukraine. Tight monetary conditions, global inflation declines and weaker consumer demand amid regular power outages will contribute to the … 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
The total amount of documented direct damage to Ukraine’s infrastructure caused by the full-scale war with Russia is estimated at $137.8 billion (replacement cost) as of December 2022, a study by the Kyiv School of Economics published on Jan. 24 has found. Compared to the latest estimates as of November 2022, the total amount of losses has … 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
Nova Poshta has adapted to work in the conditions of full-scale Russian aggression and has already reached the indicator of the volume of shipments of 95% of the pre-war level, in 2023 it intends not to slow down the pace of development by opening new branches, and also to complete the construction of two sorting … 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
Oleg Gorokhovskyi, the co-founder of the most popular mobile-only bank in Ukraine monobank, announced the launch of its Polish product called stereo. It will have many similar features that monobank has, like free of any fees payments and opening banking accounts remotely. AIN.Capital shares the details about stereo project. stereo is a new mobile-only bank that … Read more