The National Bank of Ukraine (NBU) recognized the faulty business reputation of the shareholders of Sense Bank (formerly Alfa-Bank), ABH Holdings S.A. (57.6006% stake in Sense Bank) and its subsidiaries ABH Ukraine Limited (42.3994%), which, unlike their beneficiaries Mikhail Fridman, Petr Aven and Andrey Kosogov, are not under sanctions. “In accordance with the decisions of … Read more
Ukraine will no longer return to “dangerous” money printing to cover state expenses, National Bank of Ukraine (NBU) chair Andriy Pyshnyi confirmed to the Financial Times on March 26. An “open conflict” with the Ukrainian government on this matter was settled, Pyshnyi said. Printing of billions hryvnia last year “created huge risks for macro-financial stability,” although it … Read more
In 2022, the year of Russia’s full-scale invasion, the tourist tax amounted to UAH 178.9 million ($5.4 million), which is 24% less in hryvnias than in 2021, the press service of the State Agency for Tourism Development reported on March 23. The total amount of tourist tax collected in 2021 was UAH 235.4 million ($8.63 million). … Read more
Ukraine’s postal operator Nova Poshta plans to open 200 branches in 30 European countries by 2025, Interfax-Ukraine quoted company co-founder Volodymyr Popereshnyuk as saying on March 23. “We will invest EUR 10 million,” he said while opening its first Nova Post branch in Lithuania, adding that the company has already invested EUR 1 million in network development … Read more
Public-private partnerships in Ukrainian ports are poised to expand, as the Ukrainian government is preparing concession projects in Odesa and Izmail seaports, the head of Reform Support Team (RST) at Ukraine’s Infrastructure Ministry, Iryna Koshel-Repnevska, told Ukrainian news agency Interfax-Ukraine on March 23. “The only issue is investors and their interest in the implementation of … Read more
Ukraine’s National Agency on Corruption Prevention (NACP) has declared Raiffeisen Bank International an international sponsor of war – over its continued operations in Russia, the agency reported on March 23. “Some well-known banks probably hope that if they continue to work in Moscow, the terrorist state will take huge loans from them to pay reparations … Read more
The World Bank has increased its estimate of how much Ukraine will need for its recovery and reconstruction to at least $411 billion, based on damages inflicted during the first year of Russia’s large-scale invasion, the Bloomberg news agency reported on March 22. The new figure, from a joint assessment by the bank, the government of Ukraine, … Read more
Russia caused another $6 billion damage to Ukraine’s infrastructure in February 2023, bringing the total amount of damage since the full-scale invasion began to $143.8 billion, said the Kyiv School of Economics’ ‘Russia Will Pay’ annual report. According to experts, damages to Ukraine’s infrastructure, education, energy, transport, trade, and healthcare continue to grow. Over 150,000 residential … Read more
DTEK Holdings Limited has extended the term for the redemption of DTEK Energy eurobonds maturing in 2027, announced on March 6, to March 23. According to the company’s report on the stock exchange, the maximum amount has been increased to $80 million, however, compared to the offer in November, there is no maximum buyback price, … Read more
Ukrainian and IMF officials have agreed on a draft for a $15.6 billion financial support program designed to last four years, the IMF said in a press release on March 21. The money will be spent on supporting Ukraine’s fiscal, external borrowing, price, and financial stability, and support its ongoing gradual economic recovery, while promoting … Read more