NV Business

Ukraine's international reserves fall 2.9% to $38 billion

According to preliminary estimates by the National Bank of Ukraine (NBU), Ukraine's international reserves decreased by 2.9%, or $1.14 billion, to $37.9 billion, the NBU reported on July 5.

5 July 2024, 04:02 PM

EU duties on Ukrainian products aid Polish market reentry

The European Commission's "emergency braking" mechanism, which imposes duties on eggs from Ukraine, had an immediate effect, said Pawel Podstawka, head of the Polish Federation of Poultry and Egg Producers, PAP reported on July 4.

5 July 2024, 03:36 PM

Ukraine’s Q1 state budget revenue exceeds plan by 22%

Ukraine exceeded its first-quarter 2024 general fund revenue plan by UAH 86 billion (22%), despite receiving UAH 96 billion less in non-repayable international aid compared to the same period in 2023, Accounting Chamber Chairman Olha Pishchanska said on July 4.

5 July 2024, 01:01 PM

Russia drops from top ten largest economies worldwide

Amidst a decline in the ruble’s value, Russia has fallen out of the top ten largest economies globally, slipping from 8th to 11th place, according to a World Bank report released on July 4, with Italy, Brazil, and Canada surpassing its growth rates last year.

4 July 2024, 02:24 PM

European Business Association to oversee customs operations in Ukraine

Ukraine will criminalize the smuggling of goods, with the European Business Association (EBA) monitoring any cases of increased pressure on businesses starting July 1, the association's press service reported.

1 July 2024, 05:37 PM

Ukraine's largest oil producer starts key drilling projects

Ukrnafta, Ukraine's leading oil producer, has commenced construction of two new oil wells projected to yield over 100 tons of oil daily, the company's press service announced on July 1.

1 July 2024, 02:51 PM

Naftogaz, Ukraine’s state-owned oil company, reports $247 million profit in quarter

In the first quarter of 2024, Naftogaz Group reported a net profit of UAH 10.9 billion ($270 million), a significant turnaround from a net loss of UAH 1.4 billion ($34.6 billion) in the same period of 2023, the company announced on June 28.

28 June 2024, 10:31 PM

IMF nears approval of $2.2 billion aid tranche for Ukraine

The International Monetary Fund (IMF) is poised to finalize its fourth review of the Extended Fund Facility (EFF) for Ukraine and is expected to disburse a fifth tranche worth approximately $2.2 billion in the coming days,, reported head of the National Bank of Ukraine Andriy Pyshnyi on Facebook on June 20.

21 June 2024, 05:51 PM

Ukrainian IT industry faces staff and venture capital losses

Twenty percent of Ukrainian IT specialists work abroad, while the total number of IT specialists in Ukraine increased to 307,000 from 285,000 in 2022, but the industry still faces many challenges, Interfax-Ukraine reported on June 19.

20 June 2024, 04:00 PM

Extensive damage to Ukraine's power grid forces years of energy savings - Ukraine's PM Shmyhal

Consequences of Russian attacks on the energy sector are long-term, savings will be part of our everyday life in the coming years save at all levels: from enterprises to individual houses and apartments, said Prime Minister of Ukraine Denys Shmyhal, Interfax-Ukraine reported on June 4.

4 June 2024, 03:45 PM

How the Russian invasion reshaped Ukrainian business landscapes?

A recent study conducted by the Advanter Group and the United Nations Development Program (UNDP) highlights the profound changes in the Ukrainian business environment due to the Russian invasion.

1 May 2024, 12:29 PM

Revenue of top-10 Ukrainian power companies in 2023 revealed

In 2023, total revenue of top 10 energy companies in Ukraine amounted to $18.8 billion, which is 8% more than revenue of these companies in 2022, reported Opendatabot index on April 29.

29 April 2024, 11:50 AM

Microsoft promotes use of OpenAI tools in US Army

In October 2023, at a seminar for the US Department of Defense dedicated to AI literacy, Microsoft and OpenAI presented products they could offer the Pentagon, particularly, DALL-E, The Intercept reported citing material from the event on April 10.

12 April 2024, 02:03 PM

Ukrainian business invites PM Shmyhal and Minister of Agrarian Policy Solsky for 'serious conversation'

The Cabinet of Ministers’ law on the fortification of food products imposes an added strain on businesses, potentially resulting in market losses and closures EBA reported on April 11.

11 April 2024, 05:22 PM

Unveiling Ukraine's 60,000 bomb shelters: Tracking the 10 billion UAH expenditures of 2023

About 10 billion UAH ($262 million) was spent on shelters in 2023, and 6.5 billion UAH ($171 million) allocated in 2024, but the total expenditure should not be less than that of 2023, Ukraine’s Statistics Ministry said, NV Business reported on Feb. 29.

2 March 2024, 01:25 PM

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