Economics

Parliament dismisses Sennychenko as head of State Property Fund

Parliament dismisses Sennychenko as head of State Property Fund

The Verkhovna Rada of Ukraine has dismissed Dmytro Sennychenko from the post of head of the State Property Fund of Ukraine A total of 318 MPs voted in favor of the relevant decision, an Ukrinform correspondent reported. Sennychenko was not present at the parliament’s meeting. As reported, Head of the State Property Fund Dmytro Sennychenko submitted a letter of resignation in November 2021. Read also: Parliament’s committee recommends dismissing Sennychenko as State Property Fund head At the parliament’s meeting on January 27, 2022, MPs rejected the dismissal of Sennychenko. Only 223 MPs voted in favor of the relevant decision, with…
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European Parliament greenlights EUR 1.2B assistance package to Ukraine

European Parliament greenlights EUR 1.2B assistance package to Ukraine

During the plenary session in Strasbourg, the European Parliament gave the green light to a EUR 1.2 billion macro-financial loan to Ukraine. “The resolution, adopted under the urgency procedure, passed with 598 votes for, 55 against and 41 abstentions,” reads the European Parliament’s press release. The decision to provide macro-financial assistance to Ukraine must also be taken at the level of the Council of EU before it enters into force. On February 11, the Permanent Representatives Committee (COREPER) supported the European Commission's proposal to provide additional emergency macro-financial assistance to Ukraine to the tune of EUR 1.2 billion. The EU…
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Investors trying to withdraw capital from Ukraine amid information threats – Shmyhal

Investors trying to withdraw capital from Ukraine amid information threats – Shmyhal

Investors are trying to withdraw their capital from Ukraine under the pressure of information threats. Prime Minister Denys Shmyhal said during the Marathon of Unity UArazom on February 16, an Ukrinform correspondent reported. "We are talking about a serious economic challenge. As to exchange rate fluctuations, rising inflation, there are no real macro threats to our economy now, but under the pressure of such information threats, of course, investors are trying to withdraw their capital from Ukraine," Shmyhal said. According to him, this, in turn, leads to pressure on the dollar, as well as the need for significant costs of…
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Economy minister outlines priority projects for GDP growth

Economy minister outlines priority projects for GDP growth

The Government focuses on a number of key priority projects that will help accelerate the growth of national GDP. First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko said this during the nationwide TV marathon dedicated to the Unity Day, an Ukrinform correspondent reports. According to the minister, the first such project is a program to bolster Ukrainian exports. The recently signed free trade agreement with Turkey will help improve export performance. The document is currently pending ratification by the Verkhovna Rada. “Reducing energy dependence is also very important for us. Therefore, we will officially announce the…
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Ukraine interested in cooperation with Lithuania in cybersecurity

Ukraine interested in cooperation with Lithuania in cybersecurity

The Ministry of Energy of Ukraine is interested in cooperation with Lithuania in cybersecurity, in particular, at the level of cybercenters operating on the basis of NEC Ukrenergo and NJSC Naftogaz of Ukraine. Deputy Minister of Energy for Digital Development, Digital Transformations and Digitization Farid Safarov said at a meeting with representatives of the Lithuanian National Cyber Security Centre, Ukrinform reports with reference to the Ministry of Energy. "We are interested in cooperation in the energy sector, in particular at the level of our cybercenters operating on the basis of Ukrenergo and Naftogaz. This will help strengthen not only the…
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Kuleba sees consensus on Nord Stream 2 in event of new Russian aggression as positive signal

Kuleba sees consensus on Nord Stream 2 in event of new Russian aggression as positive signal

The consensus that a new Russian invasion of Ukraine will bring an end to the future of the Nord Stream 2 gas pipeline is a positive signal. Ukrainian Foreign Minister Dmytro Kuleba said this at a joint briefing with the foreign ministers of the Czech Republic, Slovakia and Austria in Kyiv on Tuesday, February 8, according to an Ukrinform correspondent. Kuleba recalled that Ukraine's position on Nord Stream 2 is unchanged - "we believe that this is a security problem not only for Ukraine but also for Europe." "We are working with our partners to find a mutually acceptable solution.…
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Biden vows to end Nord Stream 2 if Russia invades Ukraine

Biden vows to end Nord Stream 2 if Russia invades Ukraine

U.S. President Joe Biden has promised to bring an end to the Nord Stream 2 gas pipeline if Russia launches a new invasion of Ukraine. He said this at a joint press conference with German Chancellor Olaf Scholz in Washington on Monday, February 7, according to an Ukrinform correspondent. "If Russia invades — that means tanks or troops crossing the border of Ukraine again — then there will be no longer a Nord Stream 2. We will bring an end to it," Biden said. When asked how he could do that exactly, since the project is largely within Germany's control,…
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Zelensky: National currency is strengthening

Zelensky: National currency is strengthening

President Volodymyr Zelensky has stated that the situation on the Ukrainian market has stabilized and the hryvnia is strengthening.   He said this at a joint press conference with Prime Minister of the Kingdom of the Netherlands Mark Rutte, an Ukrinform correspondent reported. "As to the hryvnia. We have managed to keep the situation under control despite panic […]. We have taken many different steps, stabilized the hryvnia and calmed markets," Zelensky said. The President stressed that today one can see that “the national currency is strengthening.” As reported, the National Bank of Ukraine on Wednesday, February 2, strengthened the…
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Richard Branson: My thoughts on Ukraine and Russia

Richard Branson: My thoughts on Ukraine and Russia

Business leaders all over the world have been watching the build-up of Russian troops and equipment at the Ukrainian border with great concern. This has been a smouldering conflict for many years, with occasional flare-ups, like the illegal annexation of the Crimea by Russia in 2014. But never in recent years has there been a greater risk of an all-out war on European soil – a war that, like so many before it, does not serve a just or legitimate objective. (It’s hard for any of us to hide our exasperation at this point. In 2022, what on earth is…
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Kuleba, Danish PM discuss support for Ukraine's economic, financial stability

Kuleba, Danish PM discuss support for Ukraine's economic, financial stability

Ukrainian Foreign Minister Dmytro Kuleba and Danish Prime Minister Mette Frederiksen have discussed the issues of support for Ukraine's economic and financial stability. The meeting was held as part of an official visit of the Ukrainian Foreign Minister to Copenhagen on January 27, Ukrinform reports, referring to the ministry’s press service. The parties agreed on further participation of Denmark in supporting the reform process in Ukraine, in particular in the framework of Danish technical assistance in the next phase of the Danish Neighbourhood Programme (DANEP) in 2022-2026. As expected, Denmark will allocate EUR 73 million for the projects in Ukraine.…
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