Moody’s Investors Service, on June 16 upgraded the ratings and assessments of six Ukrainian banks (as applicable: PrivatBank, Oschadbank, Ukreximbank, Raiffeisen Bank Aval, Pivdenny Bank, JSCB, Sberbank PJSC). Moody’s also revised the outlooks for the ratings of these six banks to stable from positive. The rating action follows Moody’s upgrade of Ukraine’s sovereign debt rating … Read more
The Cabinet of Ministers has said that a drop of Ukraine’s GDP in 2020 could be up to 8% compared to 2019, according to the updated government action plan. “Ukraine is traditionally more vulnerable to economic shocks, and therefore could feel a more significant impact: GDP may fall by 4-8% compared with 2019,” the government … Read more
Ukraine in a memorandum to the International Monetary Fund (IMF) has declared its intention to introduce a mechanism for determining the ultimate beneficial owner of land. According to a document published by the IMF on Thursday, this mechanism should help prevent circumvention of legal requirements to combat money laundering and counter terrorist financing. In addition, … Read more
The Board of the National Bank of Ukraine (NBU) has decided to cut the key policy rate from 8% to 6% effective, the NBU said on its website on Thursday. “Consumer and investment demand is most likely to remain subdued for longer than forecast in April. On the one hand, this will keep inflation below … Read more
Ukraine’s economy will shrink by 3.5% in 2020 due to the coronavirus-related crisis, while the global economy will lose 5.2% overall, the World Bank announced this in the updated Global Economic Prospects on Tuesday. “The depth of the contraction will depend on the duration of the health crisis, progress on major pending reforms, and the … Read more
The first direct container train from China arrived in Kyiv at the Liski branch on June 8, acting Member of the Board of JSC Ukrzaliznytsia, Infrastructure Director Roman Veprytsky has said. The train covered the distance of 9,000 km in 15 days crossing four countries. “For comparison: it would take 45 days to deliver containers … Read more
Capital investment in Ukraine in January-March this year fell by 35.5% after growing by 21.2% in the fourth quarter of last year, the State Statistics Service said on Tuesday. According to the State Statistics Service, in the first quarter of this year, UAH 76.914 billion of capital investment was disbursed (excluding the temporarily occupied Crimea, … Read more
Metinvest, the largest Ukrainian mining and metallurgical holding, took 42nd place in the list of the largest world steel producers with a volume of 9.58 million tonnes in 2019 compared to the 42nd place with a volume of 9.37 million tonnes of steel in 2018, the 42nd place with a volume of 9.59 million tonnes … Read more
JSC Ukrtransnafta transported West Texas Intermediate (WTI) oil for the first time in May, the company’s press service said. “After checking the quality indicators of crude oil, the company began accepting WTI oil for transportation to Kremenchuk oil refinery. ‘Light Sweet’ will be transported through the Odesa-Kremenchuk crude oil pipeline,” the company said in the … Read more
Estonian company Bolt is planning to launch two of its new services in Kyiv in the summer of 2020. It is about scooter rental service and Bolt Food, a food delivery service. Bolt company was preparing to launch the scooter rent service back in spring 2020. The test site was launched in 2019 at UNIT.City. … Read more