Moody’s Investors Service (Moody’s) has upgraded to B3 from Caa1 the corporate family ratings (CFRs) and to B3-PD from Caa1-PD the probability of default ratings (PDRs) of three companies operating in Ukraine: Britain’s Ferrexpo Plc with assets in Ukraine, Metinvest B.V. (the Netherlands), the holding company of Metinvest Group, and MHP SE, the holding company … Read more
NP Logistics of Nova Poshta Group signed the 5-year contract with the Swedish retailer IKEA, as reported in press release. The Swedish corporation is preparing for opening in Ukraine. City-format IKEA shop will be located in Ocean Mall. The opening is planned on September 01, 2019. NP Logistics will provide fulfillment and delivery services. The … Read more
The Verkhovna Rada has approved bill No. 9355-5 on extending the moratorium on the sale of agricultural land until January 1, 2020. Some 231 people’s deputies voted for the document. As reported, the bill was supported by the parliamentary committee on agrarian policy and land relations. The draft law, in particular, stipulates that the Cabinet … Read more
The National Bank of Ukraine on December 18 made a decision to terminate the banking license of Kyiv’s VTB Bank, a subsidiary of the eponymous Russian lender, the press service of the Individuals’ Deposit Guarantee Fund has told Interfax-Ukraine. “The Deposit Guarantee Fund made the corresponding decision based on the National Bank decision yesterday [on … Read more
Ukraine’s Verkhovna Rada on Thursday passed at second reading bill No. 8450 on information about food for consumers, regulating the rules of food labeling and introducing fines for giving untrue information on labels. A total of 231 lawmakers backed the document. “The main purpose of the bill is to ensure that consumers are properly informed … Read more
The entry of citizens of the Russian Federation between the ages of 16 to 60 is restricted to Ukraine for the time of martial law. The measures were introduced after Ukraine implemented martial law earlier this week in response to an incident in which Russian forces opened fire on three Ukrainian naval ships off the coast of … Read more
The growth of the Ukrainian economy in 2018 will accelerate to 3.5% from 2.5% last year, while next year it will slow down to 2.3% due to a decrease in the fiscal stimulation of the economy and the weakening of foreign markets, ICU Investment Group forecasts. “In 2019, economic growth will slow down due to … Read more
SkyUp airline has expanded its fleet with third Boeing 737-800 NG plane with 189 seats made in 2013, which became the fourth plane in the airline’s fleet. “On the evening of November 28, the fourth plane of SkyUp Airlines, a Ukrainian low cost airline, Boeing 737-800, landed at the Kyiv airport,” Sikorsky Kyiv International Airport … Read more
Jysk Ukraine LLC (Kyiv), developing the JYSK furniture and household goods store chain belonged to Jysk Group (Denmark), will open a new store in Khmelnytsky, expanding its chain in Ukraine to 46 stores. The company said in a press release that the store with an area of 1,043 square meters will be opened on December … Read more
The National Bank of Ukraine (NBU) has declared VTB Bank (Kyiv) insolvent, according to the website of the central bank. The corresponding decision was approved by NBU Board resolution No. 796-rsh/BT dated November 27, 2018. “Due to the decrease in liquidity of JSC VTB Bank and the subsequent deterioration of its financial state during the … Read more