Fitch Ratings has upgraded Ukraine-based Ferrexpo Plc’s Long-Term Issuer Default Rating (IDR) to ‘B’ from ‘B-‘, reads a report on the rating agency’s website. “The outlook on the IDR is positive. In addition, Ferrexpo’s senior unsecured ratings have been upgraded to ‘B’ from ‘B-‘. The Recovery Rating is unchanged at ‘RR4’,” the report says. “The … Read more
The number of bank branches in Ukraine in 2017 decreased by 8% compared to the beginning of the year, to 9,489 offices, according to statistics released by the National Bank of Ukraine (NBU). According to the NBU, the general trend towards the decrease in the number of offices has been maintained since 2012. The rate … Read more
The government of Ukraine has extended until June 1, 2019 the powers of PJSC AvtoKrAZ (Kremenchuk, Poltava region) to export military goods of its own production and import military goods for its own production. Such a decision is stipulated in cabinet resolution No. 1034 of December 20, 2017, which introduces amendments to resolution No. 1228 … Read more
Trade between Ukraine and Canada has grown by 60% following the entry into force of the free trade agreement between the two countries, Ukrainian President Petro Poroshenko has said. “There were many achievements in our relations with Canada. The free trade agreement that significantly accelerates and creates better conditions for the development of trade in … Read more
Mutual trade between Ukraine and Germany in 2017 grew by 21.5%, the press service of the Cabinet of Ministers of Ukraine has reported after a meeting of Ukrainian Prime Minister Volodymyr Groysman with representatives of leading German companies operating in Ukraine. “Last year the volume of mutual trade grew by 21.5%, and trade focus shifted … Read more
One of the former owners of PrivatBank (Kyiv) – Ihor Kolomoisky – has been extremely outraged with statements of the National Bank of Ukraine (NBU) about systemic frauds in the financial institution before it was nationalized. “Delirium, which there is no point in commenting on,” he told TSN.ua news service on Tuesday. At the same … Read more
Ukraine has joined Global Container Control Programme (CCP) of the United Nations Office on Drugs and Crime (UNODC) and the World Customs Organization (WCO), acting Head of the State Fiscal Service Myroslav Prodan has reported. “Today, together with UNODC Director of Policy Analysis and Public Affairs Jean-Luc Lemahieu and Head of the State Border Service … Read more
Kroll company has revealed the inconformity of an audit report of PricewaterhouseCoopers (audit) LLC (Kyiv, the Ukrainian structure of PwC) with real financial situation at PrivatBank, according to a presentation of the National Bank of Ukraine (NBU). “The secret structure in the bank carried out … numerous operations of bank fraud and fabrication of reports … Read more
PrivatBank, prior to its nationalization at the end of 2016, was the object of large scale and coordinated fraudulent actions, which led to losses of at least $5.5 billion, the National Bank of Ukraine (NBU) has said, with reference to Kroll hired for the forensic audit of the bank. “The results of an independent investigation … Read more
S&P Global Ratings has assigned its ‘B-‘ long-term corporate credit rating to Metinvest B.V., the holding company of a group of mostly Ukraine-based vertically integrated steel and mining assets, the outlook is stable, reads a report on the rating agency’s website. “Metinvest, with operations in Ukraine and abroad, is a midsize producer with steel capacity … Read more