business

Estonian Defense Firm enters Ukrainian market to produce anti-drone missile systems

In a significant move, Estonian defense company Frankenburg Technologies has decided to enter the Ukrainian market and begin production of anti-drone missile systems, Bloomberg reported on Sept. 16.

22 September 2024, 09:59 AM

Businesses brace for ongoing war challenges and seek new strategies for survival

NV is hosting a new event titled "Business and War: Dialogues About the Future."

20 September 2024, 12:19 PM

Ukraine’s Economy Ministry accelerates shift to electronic business services

Ukraine’s Economy Ministry aims to provide all business services electronically as part of the digitalization of public services to eliminate corruption, according to Deputy Economy Minister for Digital Transformation, Oleksandr Tsybort, Interfax-Ukraine reported on Sept. 17.

17 September 2024, 02:05 PM

IMF forecasts Ukraine’s economy to grow 3% in 2024 with inflation rising to 9%

The Ukrainian economy is expected to grow by 3% in 2024, with inflation accelerating to 9%, according to the IMF's forecast, revised from earlier estimates of 2.5%-3.5% GDP growth and 8% inflation, the NBU reported on Sept. 11.

11 September 2024, 10:55 AM

Technogenic explosion in Kyiv claims at least three lives, rescue efforts continue

An explosion occurred at an auto transport facility in the Holosiyivskyi district of Kyiv on Sept. 8, Mayor Vitali Klitschko reported on Telegram.

8 September 2024, 01:45 PM

PrivatBank expands card delivery to 14 European countries through Nova Poshta

PrivatBank is expanding card delivery options, allowing clients to open or reissue cards via Privat24 and receive a physical card through a Nova Poshta courier at any address in Spain, France, or Hungary.

5 September 2024, 03:42 PM

Developer Arricano wins court battle over shopping center arrests

The Solomyanskyi District Court of Kyiv has canceled the arrest of three Arricano Group shopping centers in Ukraine, according to a press release from the company on Sept. 2.

2 September 2024, 03:29 PM

Ukrainian Red Cross uses NovaPay for mini-grant distribution

Sixty entrepreneurs will receive mini-grants of 100,000 UAH each for business recovery or starting new ventures.

2 September 2024, 12:28 PM

Naftogaz chief: Gas storage operations in Ukraine continue despite Russian strikes

Russian strikes on Ukraine's onshore energy infrastructure haven’t disrupted gas injection into Ukrainian storage facilities, according to Naftogaz of Ukraine’s CEO, Oleksiy Chernyshov. In an interview with the Financial Times on Aug. 12, Chernyshov reassured that repairs have been completed, and gas injection is proceeding as usual.

12 August 2024, 03:55 PM

Key Ukrainian retailer grants licenses to supply gas and electricity

The National Commission for State Regulation of Energy and Utilities (NCSREU) granted licenses to supply electricity and natural gas to Epicenter, Ukraine's top retailer, Interfax-Ukraine reported on Aug. 7.

8 August 2024, 03:01 PM

Kernel sunflower oil plant in Ukraine damaged by Russian drones

Kernel, the largest oil extraction plant in western Ukraine, has been damaged and shut down following a Russian drone attack, the company announced on the Warsaw Stock Exchange on Aug. 8.

8 August 2024, 01:16 PM

Ukrainian Intellias announces acquisition of British NorthLink Digital

Intellias announced the acquisition of NorthLink Digital, a UK-based IT company specializing in consulting and technology solutions for the financial services and insurance (FS&I) industry, Career.intellias.com reported on Aug. 5.

7 August 2024, 12:03 PM

Chernyshov addresses Firtash Oblgaz situation and potential privatization

The decision to concentrate regional gas companies under the Gas Distribution Networks of Ukraine, previously influenced by Dmytro Firtash, does not belong to Naftogaz, but the gas distribution business itself should be privatized, Naftogaz CEO Oleksiy Chernyshov said in an interview with NV Business, noting that in 2023, Naftogaz integrated 27 regional gas companies, serving 94% of consumers.

6 August 2024, 12:35 PM

Poland closes major border crossing with Ukraine for repairs

Poland is closing one of its border crossing points with Ukraine near the Yagodyn crossing for major repairs, Polish outlet RMF24 reported on Aug. 5.

5 August 2024, 01:44 PM

Architect of Putin’s palace becomes top manager of Russia’s largest bank

Russia’s Sberbank appointed Lanfranco Cirillo, known as the architect of Putin’s palace near Gelendzhik, as senior vice president, creating a new Construction block for this role, Interfax reported on Aug. 1.

2 August 2024, 01:28 PM

Zelenskyy's 1 GW gas power goal unlikely this year — expert

Valerii Tarasyuk, head of the National Energy and Utilities Regulatory Commission (NEURC), believes that Ukraine is unlikely to build 1 GW of distributed gas generation facilities by the end of the year, as stated earlier by President Volodymyr Zelenskyy, he told Forbes in an interview on July 29.

29 July 2024, 06:55 PM

Ukraine's processing industry revenue up 23% in 2023

Leaders of Ukraine's processing industry increased their revenues by 23% in 2023, with companies from Rinat Akhmetov's SCM Group earning more than a third of the total, while Oleksiy Poroshenko's Roshen made the largest net profit, Opendatabot reported on July 29.

29 July 2024, 03:29 PM

New inclusive business hub opens in Lviv Oblast

A new inclusive business hub, PROSTIR, has officially opened in Lviv Oblast, offering over 118,000 square feet of warehouse, manufacturing, retail, and office spaces, according to Alterra Group's press release.

26 July 2024, 03:51 PM

Central Asian banks reject Russian payments, disrupting transactions

Banks in Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan are increasingly refusing to accept funds from Russian companies, according to a review of the activities of fuel and energy sector transportation companies Digital FEA, GTL, and Logita Trade, The Moscow Times reported on July 25.

26 July 2024, 01:24 PM

Ukraine to raise taxes amid $12 billion defense shortfall

An increase in taxes in Ukraine was inevitable, according to Yuriy Hayday, Senior Economist at the Center for Economic Strategy. In his column for NV Business on July 25, Hayday explained that Ukraine's defense sector faces a $12 billion shortfall needed to cover basic military needs and maintain some level of parity with Russia.

25 July 2024, 01:40 PM

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