The Verkhovna Rada has strengthened the protection of intellectual property rights and provided for the use of a one-time monetary penalty instead of withdrawing from circulation of goods manufactured or introduced into it in violation of the relevant rights. A total of 286 MPs voted for the adoption of this European integration bill No. 6464 … Read more
The extension of the grain initiative for another 120 days was announced by Ukraine’s Development Minister, Oleksandr Kubrakov, on his Facebook page on March 18. Kubrakov said the extension of the agreement by four months was achieved through the collaborative efforts of Ukraine, Turkey, UN Secretary General Antonio Guterres, and other partner countries. “This means that … Read more
Ukraine will produce nuclear fuel for domestic nuclear power units and later for export to other countries, including European ones. Minister of Energy of Ukraine Herman Halushchenko announced that the production line of the Ukrainian enterprise would produce heat-separating assemblies for nuclear reactors of nuclear power plants. In 2023, it is planned to complete licensing … Read more
Ukraine will gradually lift foreign currency restrictions imposed at the beginning of 2022 after Russia’s full-scale invasion, National Bank of Ukraine (NBU) head Andrii Pyshnyi said at a briefing on March 16. “We strongly intend and have a clear vision of how to move toward easing administrative restrictions and currency liberalization,” Pyshnyi said. Ukraine received … Read more
The financial company NovaPay, which is part of the Nova Poshta group of companies, the leader of express delivery in Ukraine, is in the process of obtaining a European license of the Electronic Money Institution (EMI), said Viacheslav Klymov, co-founder of Nova Poshta. “NovaPay will develop, like the whole group – to create international expansion. … Read more
The National Bank of Ukraine (NBU) has decided to keep the key policy rate at 25% and introduce additional measures to ensure banking sector stability, NBU press service reported on March 17. In particular, the question of introducing a set of additional measures to strengthen the competition of banks for retail term deposits is being … Read more
The National Bank of Ukraine (NBU) has decided to keep the key policy rate at 25% per annum and, as market participants expected, and to take a number of additional measures to spur competition among the banks for retail term deposits by cutting the interest rate on overnight certificates of deposit, to 20% from 23%. … Read more
Germany’s largest defense company Rheinmetall has developed a concept for a tank plant in Ukraine and presented it to the federal government, company CEO Armin Papperger said in an interview with Swiss newspaper Neue Zürcher Zeitung on March 15. The Ukrainian government would have to approve the project before construction could begin. The facility won’t … Read more
The Ukroboronprom State Concern has begun producing 125 mm projectiles for a tank gun, the concern’s press service reports on Tuesday. “This is already the second munition, production of which was launched by the Concern’s enterprises in close partnership with a NATO country abroad,” the report says. It clarifies that, by order of the Ministry … Read more
Real gross domestic product (GDP) of Ukraine in the fourth quarter of 2022 fell by 31.4% compared to the fourth quarter of 2021 after falling by 30.8% in the third quarter, 37.2% in the second and 15.1% in the first, such an assessment was published by the State Statistics Service on Monday. According to the … Read more