The recent hike in Russia’s key interest rate to 21% by the Central Bank in late October has stirred renewed debate among media and economists about the Russian economy’s outlook and how economic trends could influence Kremlin policies. Today, few predict an "imminent collapse" of the Russian economy.
Sales of new cars and light commercial vehicles in Russia could decline by 21-30% in 2025 if high interest rates persist, Avtovaz CEO Maxim Sokolov said on Nov. 19, according to the state-owned TASS news agency.
Ukrnafta, a state-owned oil and gas extraction company that is a subsidiary of Naftogaz, has bought a 51% stake in Shell's gas station network in Ukraine, the press service of Naftogaz reported on Nov. 19.
Editor’s Note: This is issue 154 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 24-Nov. 17, 2024. The Kyiv Independent is reposting it with permission. Energy sector Ukraine’s energy infrastructure under attack, first in almost three months; power outage schedules are back. On Nov. 17, Ukraine’s
Editor’s note: This is issue 82 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Nov. 11-14, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Dear
The transportation and construction industries remain the drivers of the growth, as well as the manufacturing sector, said First Deputy Economy Minister Oleksii Sobolev in a statement.
"As we're approaching the 1000th day of Russia's atrocious war, we will help keep the Ukrainian state running while the country fights for survival. We are in it for the long haul," Ursula Von der Leyen said.
Ukraine’s sovereign bonds rose in price after Donald Trump’s win in the U.S. presidential elections as investors expect a quicker end to the war, the Financial Times reported on Nov. 14.
Editor’s note: This is issue 81 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Nov. 4-10, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
The following is the Nov. 12, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. As Donald Trump prepares to reenter the White House, the biggest question hanging over Ukraine is what his
Prominent organizations such as Come Back Alive and the Serhiy Prytula Foundation, headed by the well-known Ukrainian TV personality of the same name, have seen contributions decrease by approximately one-fifth in 2024, Bloomberg reports.
Almost three years after Russia launched its full-scale invasion of Ukraine, the West’s financial sanctions have finally started to bite, triggering fierce infighting within the Kremlin over control of Russia’s central bank. Russia’s business community has remained largely silent over the past two years, even as Western
Since February 2022, Ukraine has received over $37 billion in budget support through World Bank partnerships.
The International Chamber of Commerce (ICC), will lower the costs of its arbitration court for foreign investors involved in Ukraine's reconstruction projects to encourage much-needed investment.
The following is the Nov. 6, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine is launching a 5G pilot project in three cities over the course of the next two years
Editor’s Note: This is issue 153 (special issue) of Ukrainian State-Owned Enterprises Weekly. The Kyiv Independent is reposting it with permission. Ukrzaliznytsia’s corporate governance failures In this special issue, Oleksandr Lysenko and Andriy Boytsun highlight several events illustrating failures in the corporate governance of Ukrzaliznytsia. These relate to
Editor’s note: This is issue 80 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Oct. 28- Nov. 3, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
According to EXPRO’s calculations, gross natural gas production rose by 2.3% in October 2024 compared to the same month last year, reaching 1.663 billion cubic meters, the highest level since January 2022.
The following is the Oct. 30, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Companies in Ukraine that were expecting to be able to “reserve” their employees to shield them from military
Editor’s Note: This is issue 152 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 13-24, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Updated IMF Memorandum. On Oct. 18, the International Monetary Fund (IMF) published an updated Memorandum of Economic and Financial Policies
Editor’s note: This is issue 78 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Oct. 21- Oct. 27, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Because North Korea and Russia do not publish official statistics on the country's bilateral trade, there is uncertainty. But even the minimum estimate of shipments is over $1.7 billion, the study reads.
Deputy Foreign Minister Yevhen Perebyinis issued a letter to cabinet ministers on Oct. 23 warning that the European Union has notified Ukraine that the next tranche of 4 billion euros ($4.3 billion) from the EU's Ukraine Facility may be delayed until next year unless expected aspects of corruption reforms are completed by the end of this month.
Daleep Singh, the White House deputy national security adviser on international economics, said that Joe Biden's administration intends to split the funds between helping the Ukrainian economy and the military.
The following is the Oct. 22, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. As Russia makes its slow and steady advances in Ukraine’s eastern Donetsk Oblast, its troops are closing
Ukraine is still far from an investor's paradise, but increasingly valuable business deals are being signed in the war-torn country this year. In the first nine months of 2024, there were 36 Ukrainian mergers and acquisitions (M&As) with a total estimated value of $643 million, according to a new
Editor’s note: This is issue 78 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Oct. 14- Oct. 20, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Editor’s Note: This is issue 151 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 6-12, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Ukrzaliznytsia’s CEO Yevhen Liashchenko filed a resignation letter, the company’s supervisory board said on Oct. 7. The board
Kazakhstan's president has "carefully considered" proposals to join BRICS but Astana will not seek to join the group "in the foreseeable future," a government spokesperson told Tengrinews.kz in an interview published on Oct. 16.
Saudi Arabia’s planned oil production hike may not break Russia’s petro-export-fueled economy, but escalations between Israel and Iran could be a gold rush for Moscow. Since late 2022, the OPEC oil cartel, of which Russia is a member, has withheld oil production and exports to prevent a surplus
At a time when state coffers are starving for money to fund Ukraine’s survival, illegal smuggling is costing the country billions of dollars a year in lost tax payments. Through bribery or lying, smugglers avoid an estimated $2.4 to $3 billion in customs payments each year as they
"Looking at a future of peace and prosperity also means looking at reconstruction, and I am happy to announce that the 'Ukraine Recovery Conference' will be held in Rome on 10 and 11 July 2025," Italian Prime Minister Giorgia Meloni said.
Russia’s 10-year war of aggression against Ukraine has caused widespread and long-lasting damage to the country’s economy. Positive growth predictions were squashed following Russia’s annexation of Crimea and invasion of Ukraine’s eastern Donbas region in 2014. Then came Russia’s full-scale invasion in February 2022, wreaking havoc on an economy that had just started to recover following the Covid-19 pandemic. The country’s financial sector and economy have proved resilient throughout Russia’s full-scale invasion, bouncing back in 2023, although the economy is still around a third smaller than its pre-war level.
