Excerpts from the most important news on Ukraine
russia to face legal scrutiny for Kerch Bridge construction – Ukraine’s MFA
24.02.2020
The Arbitral Tribunal ruled against the preliminary objections of the russian Federation in a dispute concerning coastal state rights in the Black Sea, the Sea of Azov, and the Kerch Strait.“The Tribunal agreed with Ukraine that russia’s claim of an internal waters status was not a proper subject for a jurisdictional objection and should be decided at the merits stage of the case. The ruling means that russia will face legal scrutiny for its illegal construction of the Kerch Bridge ...russia’s ‘inspections’ cost $45 million to shippers
24.02.2020
russia has detained 2,249 ships since Kerch Strait naval clash of November 2018, Andriy Klimenko, editor in chief of the BlackSeaNews portal.With each detention for ‘inspections’ lasting an average of four days, shippers have lost $45 million, Klymenko told a European Parliamentary delegation last week in Brussels.“More than half of the ships subjected to unreasonable detentions in the Kerch Strait are related to the EU — having a European flag, shipowner, or port of destination,” he said.Antitrust authority prepares to block purchase of Motor Sich by China
18.02.2020
Ukraine’s antitrust authority is preparing a case to potentially block a deal that would give Beijing access to unique defense technology, and the U.S. diplomacy and technical assistance have played a key role in the process, according to the agency’s chairman, writes Forbes.Yuriy Terentyev, chairman of Ukraine’s Antimonopoly Committee, tells Forbes his committee is building a case to block the sale, using US-supplied information about Beijing Xinwei Technology, parent of Skyrizon. “We are investigating the fact that the Chinese side ...Ukrainian company launches vegetable milk plant near Odesa
18.02.2020
Ukrainian beverage company Vitmark-Ukraine has launched its production of vegetable milk under the brand “Vega Milk” at a new plant in Ukraine’s Odesa region, according to the company’s press release. It cost €5 million to build a full-cycle vegetable milk production plant. The new plant is built with Swedish equipment and has its own storage warehouse, processing equipment, and aseptic packaging bottling lines as it processes buckwheat, wheat and oats.The company exports its products to more than 25 countries including Canada, Israel ...Ukraine received almost $12 billion in remittances in 2019
17.02.2020
Ukraine received almost $12 billion in remittances in 2019, while $600M was transferred from Ukraine abroad, NBU reports.A fifth of money transfer transactions worth $2.271 billion were carried out to Ukraine via 37 money remittance systems, most of which (30 systems) was created by residents, while seven – by non-residents (four systems from the U.S. and three from Georgia, Canada, and Azerbaijan), the regulator said on its website on February 14.In particular, money transfers to Ukraine via money remittance systems ...Loan portfolio improved across all bank groups, except banks with russian capital
16.02.2020
In 2019, nonperforming loans (NPLs) in Ukrainian banks reduced for the first time in three years below 50% and as of 1 January 2020 made up 48.4% ((-4.5 pp) in 2019). Loan portfolio quality improved across all bank groups, except banks with russian capital, NBU reports.The main improvement factors were:an increase in retail lending (by about 30% yoy). This enhanced quality of the retail portfolio: in 2019 the share of nonperforming retail loans reduced by 11.9 pp to 34.1%; major credit portfolio restructuring of ...Boryspil ranked as fastest growing airport in Europe
16.02.2020
Kyiv Boryspil was Europe’s fastest-growing major airport last year, ACI Europe, the European airport trade association, reports from Brussels. Growing by 21.1%, Boryspil was the fastest growing airport with more than 10 million passengers of the 46 European area airports tracked by the association.By contrast, passenger traffic at EU airports increased by 3.3% last year, down sharply 5.4% in 2018. At non-EU European airports, passenger traffic growth dropped by almost two thirds, to 3% in 2019.In its report, ACI cited “impressive growth posted by airports in Ukraine ...DP World acquires majority stake in TIS Container Terminal Ukraine
16.02.2020
DP World, one of the world’s leading port operators, acquires a majority stake of 51% in TIS Container Terminal Ukraine, UkraineInvest reported.“DP World will introduce it’s latest IT solutions and group’s global expertise, focusing on the intermodal segment of cargo transportation, enhancing the terminal team by involving the best professionals from around the world, developing TIS industrial park.” – reports TIS.In 2019 the DP World turnover surpassed 71 million TEU. The company owns 78 marine terminals in 50 countries. TIS Container ...Noncash Payments Positively Affects Financial Habits of Ukrainians
14.02.2020
The development of innovative services and noncash card settlements in Ukraine positively affects the financial habits of Ukrainians. If previously payment cardholders used to withdraw cash from ATMs, today they prefer noncash settlements, NBU reports.Noncash Transactions Prevail in Value and in NumberIn 2019, the total number of transactions (cashless payments and cash withdrawals) involving payment cards issued by Ukrainian banks was 5,057.3 million, with the value of these transactions totaling UAH 3,576.7 billion. Such operations increased in number by ...Defense Ministry to purchase Neptune missile systems
13.02.2020
Ukrainian Defense Minister Andriy Zahorodniuk has said that the Defense Ministry plans to buy the latest Neptune missile systems from the Luch Design Bureau, part of the Ukroboronprom State Concern, the concern’s press service has reported.“We have very interesting missile systems. Last year, we tested the Neptune rocket, which was developed by the Luch Design Bureau in Kyiv. This is a very interesting technology that really has great potential for us, for security. The development of rocket, artillery technology is ...Germany and France will make labor migration easier for Ukrainians
12.02.2020
The high wage countries of Europe may represent the future of Ukrainian labor migration in the 2020s, writes David Saha, of the German Advisory Group. “The openness of EU countries to labor migrants from Ukraine may increase further,” he writes in a new study posted by Vox Ukraine.According to him, due to demographic change and their aging populations, many countries including the old member states such as Germany or France will increasingly face shortages of workers and may adjust their immigration ...Average yield on 14-month dollar bonds is down to 3.39%
12.02.2020
The Finance Ministry’s weekly auction pushed the average yield on 14-month dollar bonds down to a record 3.39% per annum. Bidding yesterday also pushed average yields on hryvnia bonds down to the 9.5%-10% range.In the auction, the Ministry raised $375 million, selling $202 million in dollar bonds and $173 million equivalent in hryvnia bonds.
