business

Russian trucking firms brace for survival amid industry-wide losses

The majority of Russian trucking companies are closing out 2024 with financial losses, with nearly 30% at risk of bankruptcy in the coming year, the Moscow Times wrote, citing Izvestia, on Dec. 10.

10 December 2024, 02:39 PM

Neighboring country sets record defense spending in new budget

The Polish Sejm approved the 2025 state budget, with revenues of $145 billion and expenditures of $211 billion, including a record $42 billion for defense, or 4.7% of GDP, Wprost reports on Dec. 7.

7 December 2024, 03:11 PM

Biosphere Corporation to open new production plant in Uzbekistan next year

Biosphere Corporation, a major Ukrainian household goods manufacturer, plans to open a garbage bag production facility in Uzbekistan next year and expand its presence in Central Asia, CEO Andrii Zdesenko said in an interview with Interfax-Ukraine on Dec. 6.

6 December 2024, 01:50 PM

Kronospan invests €200 million in new OSB plant in western Ukraine

Kronospan Rivne, part of the international Austrian corporation Kronospan, has launched a new production line for oriented strand boards (OSB) in Rivne Oblast, the Ministry of Economy reported on Nov. 29.

29 November 2024, 07:20 PM

184 Ukrainian firms under sanctions, with Parimatch as the revenue leader

The National Security and Defense Council has sanctioned 184 Ukrainian companies, nearly tripling the number from last year, with 119 more businesses added, OpenDataBot reports on Nov. 25.

25 November 2024, 06:38 PM

U.S. eases travel restrictions for 9 oblasts in western Ukraine

The U.S. State Department revised its travel recommendations for Ukraine, lowering the advisory level for nine oblasts from "Do Not Travel" (Level 4) to "Reconsider Travel" (Level 3), Ukraine's Ambassador to the U.S Oksana Markarova wrote on Nov. 15.

15 November 2024, 09:04 AM

Ukrenergo imposes temporary power cuts for businesses

Temporary power restrictions for business and industrial consumers throughout the day were announced by the national power company Ukrenergo on Telegram on Nov. 13.

13 November 2024, 09:36 AM

NV launches key forum on Ukraine’s future: topics from security to quality of life to be discussed

Kyiv will host NV’s new event, “Ukraine 2050: Dialogues About the Future” where the range of paramount topics - from security and economic growth to quality of life - are due to be discussed.

11 November 2024, 11:30 AM

Ukrenergo outlines Ukraine's winter electricity import needs

NPC Ukrenergo and Poland’s PSE are exploring the possibility of increasing electricity imports to Ukraine by 150 MW, potentially totaling 2.5 GW, Ukrenergo acting head Oleksiy Brecht said at the 10th Kyiv International Economic Forum, according to Interfax-Ukraine on Nov. 8.

8 November 2024, 12:34 PM

Zelenskyy urges businesses to help shape Ukraine's economic plan

Businesses have been invited to participate in the development of an internal plan to strengthen Ukraine's economy, led by Economy Minister Yulia Svyrydenko, the Interfax-Ukraine news agency reported on Nov. 7, citing Ukrainian President Volodymyr Zelenskyy.

7 November 2024, 01:41 PM

Kyiv, World Bank sign $600 million deal to stimulate Ukrainian economy

Ukraine and the World Bank have signed agreements that would direct nearly $600 million towards supporting the Ukrainian private sector, Prime Minister Denys Shmyhal announced on Nov. 4.

4 November 2024, 09:37 PM

Banks hold liquidity but businesses struggle to get loans: finding solutions in Ukraine

How can banks and businesses strengthen their relationship?

16 October 2024, 11:48 AM

National Bank highlights factors fueling inflation growth in Ukraine

The National Bank of Ukraine reports that inflation in the country continues to rise.

7 October 2024, 03:35 PM

Nearly 3,000 Polish businesses express interest in Ukraine's reconstruction

More than 600 Polish companies are currently operating in Ukraine, according to Dariusz Szymczycha, deputy chairman of the Polish-Ukrainian Chamber of Commerce, Ukrinform reports on Oct. 4.

4 October 2024, 04:59 PM

Zheleznyak addresses dollar exchange rate concerns in Ukraine’s budget and macro forecasts

Ukrainians should remain calm about forecasts for the dollar exchange rate, as it is not included in the budget and is often overestimated in macro forecasts, People's Deputy Yaroslav Zheleznyak said on Telegram on Sept. 26.

26 September 2024, 12:38 PM

Justice Ministry official detained in Lviv for forcing prisoners to work for bribes

Law enforcement detained the head of the Western Interregional Department for Criminal Punishments for taking bribes and forcing prisoners to work in the woodworking industry, the State Bureau of Investigation reported on Sept. 23.

23 September 2024, 05:59 PM

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

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