Limitations for industrial users will be applied from 7 p.m. to midnight local time on May 18, while restrictions for domestic users are not forecasted for the same day, according to Ukrenergo.
Ukrainian businessman Vitaliy Kropachov is the owner of the Ukrdoninvest Group of companies with assets in the coal industry, machine-building, construction, transportation, and media.
"Despite attacks by Russia on Ukraine's energy infrastructure, it is likely that Ukraine will see real economic growth of around 3 percent in 2024," the ministry said.
The G7 finance ministers are set to meet on May 24, where they will work out the details to come to a final decision before a summit in Italy in June.
According to Vysotskyi, 87% of all agricultural products are being exported from Odesa and adjacent ports.
Last month, Ukraine's government decided to exempt from conscription employees at Favbet, Glovo, and the American-owned payment corporation Visa for six months.
Businesspeople from Turkey represent the largest share, data shows, as they own 354 new Ukrainian businesses, or 13% of the total.
The following is the May 14, 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. Ukrainian businesses and industry will face more restrictions in energy use due to "significant shortages of electricity” amid
London-listed shares in the two banks, TBC and Bank of Georgia, plummeted to their lowest single-day declines since the spring of 2020, at the height of the Covid-19 pandemic.
"We're one step closer to setting a historic precedent in Europe," said Prime Minister Kaja Kallas.
The forecast was still lower than the one reported by Russian Finance Minister Anton Siluanov in April, who claimed that the country's GDP would grow by 3.6% in 2024.
Austria's Raiffeisen Bank International (RBI) was warned by the U.S. Treasury that its access to the U.S. financial system could be curbed due to its continued presence in the Russian market, Reuters reported on May 15.
Russian attacks and cold weather have caused a "significant capacity deficit" in Ukraine's power system, leading to blackouts and energy restrictions for consumers across the country, the Energy Ministry reported on May 15.
The proposed sanctions would prohibit anyone in the EU from doing business with any financial institution that helps the Russian military purchase dual-use goods and technologies.
Ukraine's state-owned energy operator Ukrenergo said it had to introduce additional restrictions due to the damage from the recent Russian strikes against Ukrainian energy infrastructure and the increase in electricity consumption after the temperature drop.
Editor’s Note: This is issue 131 of Ukrainian State-Owned Enterprises Weekly, covering events from May 4-10, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Cabinet appoints new acting CEO for Ukrspyrt. On May 3, Stanislav Banchuk was appointed to the position. On May 6,
Editor’s note: This is issue 55 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from May 6–12, 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.
Losses caused by the Polish blockade of the Ukrainian border amounted to $500 million in lost imports and $160 million in exports in its first month, the National Bank of Ukraine said on May 14.
The approval of the plan will allow the European Commission to disburse up to 1.89 billion euros ($2 billion) in an additional pre-financing tranche until the start of regular payments tied to the implementation of the reforms.
The extension of the free-trade regime also included two new "safeguard mechanisms to protect the EU market."
Gazprom’s revenue fell by 30% last year with a net loss of $6.9 billion, the largest in 25 years. Russia’s full-scale invasion of Ukraine led to worsening relations with Europe, limiting the operations of the company.
"If we are talking about the needs of Ukraine and the needs of the war, military and non-military, 3 billion euros is actually almost nothing— we need hundreds of billions in order to win the war," Justice Minister Denys Maliuska told Politico at the G7 justice ministers' meeting in Venice on May 9.
The strike against the Pervyy Zavod plant was reportedly carried out with kamikaze drones.
Apart from 11 companies reportedly connected to the 2023 spy balloon incident, 22 were added to the list because they were linked to China's efforts to improve its quantum technology.
Ukrainian businesses and industry will face more restrictions in energy use due to a "significant shortage of electricity," Ukraine's state-owned energy operator Ukrenergo reported on May 10.
Increasingly cut off from western banking and financial services, Russia's wealthiest individuals are facing a dilemma when it comes to handing their fortunes to the next generation, according to Bloomberg. Most of the billionaires who were sanctioned have opted to move assets home, the news agency reported.
On May 9, the Prosecutor General's Office announced he was suspected of ordering the murder of the head of a law firm more than 20 years ago in Crimea.
Ukraine's State Security Service (SBU) hit two oil depots in Russia's Krasnodar Krai overnight on May 9, a source privy to the information told the Kyiv Independent.
Russian attacks have damaged or destroyed over 800 heating facilities across Ukraine since the start of Russia's full-scale invasion in February 2022, Prime Minister Denys Shmyhal said on May 8.
About 22,000 Gilat SkyEdge internet communications systems, valued at $5 million, were imported to Russia in 2023. The systems were manufactured at a facility in Uzhhorod, Ukraine.
CEO Club Ukraine said on May 6 that last month, the bureau's officials searched the association's premises.
The High Anti-Corruption Court on May 8 arrested in absentia Dmytro Sennychenko, the former head of the State Property Fund, Ukraine's Specialized Anti-Corruption Prosecutor's Office (SAPO) reported.
