ukrainebusinessroundup
Business and government in Ukraine are publicly slamming one another over a proposed tax hike Kyiv says is necessary to fund its fight against Russia. Earlier on July 18, the Finance Ministry announced that the government had approved draft changes to the 2024 budget law that included an increase in defense spending by Hr 500 billion ($12 billion). The government wants to partly fund its plans with an increase in taxes and other duties, including war taxes on individuals and businesses as well as additional levies on imports and higher excise duties. The plan is to raise around $3.3 billion fr...
Kyiv Independent (CA)
The following is the July 23, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Decentralizing a power grid is a huge undertaking, even in peace times, Kyiv Independent reporter Andrea Januta writes in her latest. Countries around the globe are shifting toward “decentralization” – or generating smaller amounts of energy closer to where it is used, rather than at centralized hubs — as they look to produce greener energy or...
Kyiv Independent (CA)
The following is the July 16, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. With Ukraine desperately seeking cash to fund its defense and wartime budget needs, the country is running out of time before an Aug. 1 deadline to agree with creditors on what portion of its foreign debt will be written off as a so-called “haircut.” After a first round of negotiations ended last month without a deal, Finance Minister Serhii M...
Kyiv Independent (CA)
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent (CA)
The following is the June 19, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. The Group of Seven (G7) leaders confirmed on June 13 a plan to provide Ukraine with a $50 billion loan by the end of the year, to be repaid using interest from approximately $300 billion of Russian Central Bank assets frozen after the invasion in 2022. How will it work? Well, the details of the agreement — including who will fund the loan and how the money will be spent — are still being finalized with li...
Kyiv Independent (CA)
The following is the June 12, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine’s annual recovery conference happened this week in Berlin, but instead of talks of grand plans to rebuild the country, two dark clouds hung over the entire event. The first is Ukraine’s dire need for air defense as Russian attacks continue to devastate the country’s energy system and infrastructure. President Volodymyr Zelensky confirmed that Russian attacks have destroyed half of Ukraine’s energy...
Kyiv Independent (CA)
Last week, I wrote in this newsletter that the biggest problems business leaders said they were facing in Kharkiv weren’t Russian attacks, but mobilization. And just like that, Russia launched missile attacks at a publishing house and a building materials hypermarket in the city. In the first of the two large-scale attacks, Russia practically destroyed Ukraine’s largest printing presses, killing seven employees and injuring 22. Just a few days later, Russia launched an attack at Epicenter, a building materials hypermarket, killing 18 and injuring 48. The publishing industry in Ukraine has gone...
Kyiv Independent (CA)
The following is the May 21, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. One of the more-talked-about stories in Ukrainian business this past week was a seemingly odd government decision to exempt some workers at a few big-name companies from conscription. What went down? Last month, the Economy Ministry decided a group of companies, which included the popular online gambling site Favbet, food delivery app Glovo, and Visa, could set aside a number of employees who they feel are...
Kyiv Independent (CA)
The following is the May 14, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukrainian businesses and industry will face more restrictions in energy use due to "significant shortages of electricity” amid Russian attacks, Ukraine's state-owned energy operator Ukrenergo announced. Russia launched another large-scale overnight attack on May 8 against energy infrastructure in central and western regions of Ukraine, the fifth attack against Ukraine's power network since the start of the...
Kyiv Independent (CA)
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