The decision of the Constitutional Court violates Ukraine’s obligations to Western creditors. This was reported by the Ministry of Finance with reference to the statement of the head of the department Serhiy Marchenko.
He addressed to the assessments of the World Bank management regarding the decision of the Constitutional Court on the officials’ e-declarations. “They believe Ukraine is violating its liabilities under the DPL loan agreement. This threatens all the bank’s projects with Ukraine. In general, we talk about $ 2.23 billion,” Marchenko said.
According to him, Ukrainian authorities risk losing two IMF tranches of $ 700 million this year, as well as a € 600 million loan from the EU and $ 350 million from the World Bank due to the decision of the Constitutional Court.
Moreover, the Ukrainian government may not receive another $ 1.5 billion from the IMF, € 600 million from the EU and $ 350 million from the World Bank in 2021.
The Verkhovna Rada of Ukraine adopted in the first reading the draft law №3637 on virtual assets. LIGA.net reports, 230 people’s deputies voted for this document. According to the explanatory note, the market for virtual assets in Ukraine has been already formed and has existed for about five years, but it is completely outside the […]
The Kyiv shipyard Kuznya na Rybalskomu (Ukrainian: “Кузня на Рибальському”) has returned to the state budget more than 300 million UAH, which the Ministry of Finance had previously paid on the company’s debts. It is noted that in 2017 the government provided state guarantees for a plant loan from Ukreximbank. The credit line allowed to […]
The Cabinet of Ministers has made changes to the Affordable Loans program of 5-7-9%. This was reported by the press service of the Ministry of Finance. In particular, the maximum level of annual income of enterprises was raised to the equivalent of 10 million euros, and the current requirement for the mandatory business profitability has […]
The increase of the minimum wage in Ukraine from UAH 5,000 to UAH 6,500 in 2021 may increase the state budget deficit to more than 6% of gross domestic product. This is stated in the economic review of the World Bank. In addition, the increase in the minimum wage will increase the overall need to […]
The IMF said that the continuation of Ukraine’s financial support program depends on the independence of NABU, SAP and HACCUkraine. This was stated by the representative of the International Monetary Fund Jerry Rice, on September 10 in Washington. “I can say that the creation of an effective anti-corruption base for Ukraine has been a crucial […]
The world economy is on the road to recovery amid the pandemic COVID-19, however, the final completion of the corona crisis is possible only in the case of mass use of the vaccine. This was stated by IMF chief Kristalina Georgieva and Chief Economist of Fund Gita Gopinath in their joint paper of the magazine […]
There are no grounds for devaluation of the hryvnia to UAH 30 / $. This was stated by Finance Minister, Serhiy Marchenko in an interview with Focus. “I do not see the preconditions for the course to reach such a value. And I do not see any tools with which anyone can influence the course […]
Elon Musk, an American businessman, founder and head of Tesla and SpaceX, dropped from second to third place in the ranking of the richest people on the planet according to Bloomberg. The entrepreneur’s fortune is estimated at 160.6 billion dollars, while at the end of February it was 183 billion. According to the agency, Musk […]Next
Over the past three years, the number of vacancies in the world has tripled with a four-day working week. Their number increased to 62 per 10,000. It is noted that the effectiveness of the reduced working week is also confirmed by the results of research conducted by the British think tank Autonomy. “The four-day week […]Next
One of the most famous car companies will get a multi-million fine for concealment of information in the financial statements for regulators. The supervisory authorities in the US announced that they intend to impose a fine on US-Italian concern Fiat Chrysler in the amount of $ 70 million for a significant underestimation of the number […]Next
The Russian office of the Swedish cosmetics company Oriflame suffered a series of cyberattacks, after which passport scans of 1.3 million Russian customers entered the network. The publication reports that as a result, passport data were put up for sale on the hacking forum RaidForums. “Passport scans of not only Russians, but also clients of […]Next
The development of critical materials could attract billions of euros in investment in Ukraine, according to Prime Minister Denis Shmygal. He said this at a summit conference on the strategic partnership between Ukraine and the EU on critical raw materials and batteries. “Ukraine creates conditions for attracting investors. The current rules of access to subsoil […]Next
Pfizer CEO Albert Burla has postponed a visit to Israel because he has not yet been fully vaccinated against COVID-19. Burla himself and members of the delegation have not yet received a second dose of the vaccine. The Pfizer spokesman stressed that they are still interested in visiting Israel. Now the visit can be postponed […]Next
January 17 of this year it became known on completion of the procedure of purchase of one of the largest in Eastern Europe IT-company SoftServe assets of Polish developer Coders Centre software, as reported online edition Inventure. The exact amount of the said financial transaction is not advertised, but experts believe that it is between […]Next
Group DF officially registered in 27 countries of the EU trademark “Ukraine Tomorrow”. Group DF, that is controlled by businessman Dmitry Firtash, announced the end of the official registration in the Office for Harmonization in the Internal Market (OHIM) of trademarks for goods and services “Ukraine Tomorrow” (TM), “Ukraine Morgen” and “Ukraine Tomorrow”, around which […]Next
According to Finance.ua, there is a good opportunity to extend the limits of Ukrainian financing system. The Ukrainian government provision has come into force. The financial transaction sanctions with Iran banks were cancelled by the resolution of the Ukrainian government. Oleh Churyi, the deputy head of NBU, admitted that National Bank of Ukraine would implement […]Next
In the next five years, Naftogaz plans to invest $ 7.3 billion in hydrocarbon production, said Otto Waterlander, the group’s chief executive officer, at a presentation of NJSC’s business strategy. “Over the next five years, our business plan assumes that we will invest $ 7.3 billion in mining, upstream, and double that amount over the […]Next
The Teva Ukraine company is the part of the Teva Corporation, the leading international pharmaceutical company specializing in the development, manufacture and marketing of generic and original medicines. The Antimonopoly Committee of Ukraine gave the permission for concerted action in the form of fulfillment of the conditions contained in Articles 9.6 and 9.12 of the […]Next
Shares of Alphabet, which rose 18.2% over the past 6 months, rose 9% after closing trading on Thursday when the global advertising giant announced significant improvements in the reporting quarter. Google’s parent financial report far exceeded analysts’ expectations and showed a resumption of advertising revenue growth after reporting a drop in revenue for the first […]Next
The German concern Lufthansa plans to remove the state from its co-owners by increasing its capital by 2.14 billion euros and returning the state anti-crisis aid received during the COVID-19 pandemic. These measures will begin before the elections to the Bundestag on September 26, the airline said on Sunday evening, September 19. From September 22 […]Next
American electric car maker Tesla Inc ended the first quarter of this year with record profits, but the company’s revenue was slightly worse than market forecasts. This is stated in a press release from Tesla. Thus, the company’s net income in January-March was $ 438 million, or $ 0.39 per share, compared to $ 16 […]Next
Internet service Preply, that was designed for searching of local and online tutors, announced the release to the Brazilian market. For this purpose, the company made a localization to Portuguese, implemented the accepting of payments in reais, and hired a Brazilian student Lucia in Kiev office. Her responsibilities will include support for tutors in the […]Next
The international company Strauss Group is one of the largest coffee manufacturers in the world. They put into operation a warehouse and distribution center on the street in the third quarter of 2020. It’s located on Novopyrohivska str, 56a in the Holosiivskyi district of Kyiv. “An innovative distribution center opened in Ukraine in the third […]Next