Swedish furniture giant Ikea decided in May to make plans to reopen its store in Kyiv, Forbes Ukraine reported on June 27, citing two managers of shopping centers and two commercial real estate consultants. Ikea opened its first store in Kyiv’s Blockbuster Mall on Feb. 1, 2021. Like other multinational brands, Ikea closed its store … Read more
The chairman of the board of the state-owned PrivatBank (Kyiv), the largest by assets and net profit in the country, Gerhard Boesch, will leave the bank after three years of work, and the supervisory board has already started the process of selecting a new chairman. “Mr. Boesch will continue to fully perform his duties until … Read more
Creatio, the developer of a no-code platform for business process automation and CRM, has raised $200 million in a fresh round at a valuation of $1.2 billion. Following the investment, Creatio becomes the sixth unicorn with Ukrainian roots after GitLab, People.ai, Grammarly, Unstoppable Domains, and airSlate. The minority round was led by Sapphire Ventures with … Read more
From January to April 2024, Ukraine imported 133,908 vehicles (new and used), according to Ukravtoprom. The total customs value of the imported vehicles reached nearly $2.1 billion. The largest share of imports belongs to passenger cars, with 118,100 units imported, totaling over $1.5 billion. The second-largest category is trucks, with 15,181 units valued at $460.3 … Read more
Preliminary estimates suggest that Ukraine’s gross domestic product (GDP) increased by 6.5% in the first quarter of 2024 compared to the first quarter of 2023, Ukraine’s State Statistics Service reported on June 25. Russia’s invasion caused a major hit to Ukraine’s economy, which suffered a whopping 29.1% fall in GDP in 2022. The economy stabilized … Read more
The EU Council has decided to extend temporary protection until March 4, 2026, for over 4 million Ukrainians fleeing Russia’s aggressive war, according to the Council’s website. In early June, the European Commission recommended the EU Council extend the temporary protection status for Ukrainians in the EU by another year due to ongoing security threats … Read more
The Ukrainian energy system is critically short of domestic electricity generation due to shelling by the Russians – imports are at a maximum, which does not solve this problem, and in the next 6-8 weeks, the situation with the deficit will be difficult, said general director of the electricity supply company YASNO Serhiy Kovalenko. “We … Read more
The hryvnia to the dollar exchange rate at the end of this year is expected to be about UAH 42/$1, this updated consensus forecast of seven investment companies and analytical centers was published by the Center for Economic Strategy (CES), recalling that six months ago the forecast was UAH 40.5/$1. It is indicated that the … Read more
PJSC Ukrnafta in January-May 2024 increased revenue from non-fuel sales by almost 2.1 times (by UAH 134 million) compared to the same period last year – up to UAH 260 million, the company’s press service reported. In addition, the number of non-fuel receipts has almost doubled – from 1.32 million pieces in January-May 2023 to … Read more
UkrGasVydobuvannya drilled and put into operation another high-rate well with a natural gas daily flow amounting to 439,000 cubic meters, the Naftogaz Group press service reported on June 21. The well was drilled as an exploratory one to clarify the geological structure and assess the gas content of the deposits in the one of the recently … Read more