Ukraine's air shield: Taking off to 21st century
In recent years, the Ukrainian Air Force, together with the defense industry, was actively upgrading the fleet of combat and transport planes and helicopters, as well as air defense systems. Today, Ukraine's designers and manufacturers are ready to take the next step and move to the creation of new weapons.
Week's balance: Economic growth, hryvnia's fall, and "bears" to Moscow instead of trains
The hryvnia accelerated its seasonal decline, the State Statistics Service reported on the acceleration of the country's economic growth in the second quarter, while infrastructure minister Volodymyr Omelyan made new statements on the halt of passenger communication with the aggressor state Russia via railways - these are the week's main economic news.
Week's balance: inflation declining, railways waving good-bye to Russia, and agrarians determined on volumes of grain exports
Ukraine's infrastructure minister Volodymyr Omelyan, in response to the transport blockade by Putin's Russia, announced he was ready to close down passenger railway communication with an aggressive neighbor; the State Statistics Committee reported on the deflation in the consumer market; while agrarians and the Ministry of Agrarian Policy agreed on the volumes of Ukrainian wheat exports – such are the main economic news of the past week.
Week's balance: Empty treasury, Kyiv's struggle for hot water, and selection of privatization advisers
The balance of funds in the single account of Ukraine's State Treasury has dropped to its absolute low over the past four and a half years; Kyiv is looking for opportunities to negotiate with Naftogaz, while purchasing fuel from private entities; the State Property Fund has selected investment advisors to conduct large privatization - these are the main economic news of the outgoing week.
Week's balance: delay with pensions, gas tariff freeze, and privatization restart
The pension fund for the first time in many years failed to ensure the timely payment of pensions, the government once again refused to raise gas prices for the households, while a long-awaited start was given to privatization of smaller-scale state companies - these are the main economic news of the outgoing week.
Week's balance: gas talks in Berlin, offensive on smugglers, barriers in economy
Representatives of Ukraine and Russia governments met in Berlin in an attempt to determine positions in the future gas negotiations; the Cabinet continued its fight against smuggling and, in the framework of economic deregulation efforts, simplified rules for foreigners' employment - these are the main economic news of the outgoing week.
Week's balance: Premonition of default, scandals around energy minister, and victory of "EU-platers"
Ukraine's key business associations in order to avoid default and macro-financial destabilization called on the authorities and IMF to immediately unblock the allocation of $1.9 billion to Ukraine. Minister of energy and coal industry Ihor Nasalyk fought off accusations of cooperation with Russia. People's deputies adopted in the first reading the draft law on preferential customs clearance of cars with European registration – these are the main economic news outgoing week.
Week's balance: Bill on exit capital tax, Groysman vs smuggling, and reform of state banks governance
President Poroshenko suggested that the Rada replace the profit tax with the tax on the capital withdrawn from businesses, the prime minister intimidated shadow importers with some radical methods of fighting them, while the parliament passed a bill on reforming corporate governance in state-owned banks – these are the main economic news of the outgoing week.
Week's balance: Good-bye to small coins, welcome to EU money for Ukraine reform, and latest budget deficit
The National Bank refused from further minting of small coins, Prime Minister Volodymyr Groysman asked the European Union to help with the financing of Ukrainian reforms, while the state budget was reduced to a deficit - these are the key economic news of the outgoing week.
Week's balance: New customs war, currency regulations, and new Supervisory Board in Ukrzaliznytsia
A new customs war: Prime Minister Volodymyr Groysman, anticipating a possible attack on himself, went all-in, deciding to withdraw the Ukrainian customs from under control of the president. The Verkhovna Rada adopted a historic decision - changed the obsolete currency decree by a law declaring the "all is allowed that is not prohibited by law" principle. In one of the most corrupt state companies, Ukrzaliznytsia, elected a supervisory board, which included acclaimed international experts. These are the main economic news of the outgoing week.
Week's balance: War against business harassers, NBU names key financial risks, and Swedish court suspends Gazprom debt collection
Last week, Prime Minister Volodymyr Groysman declared war on law enforcers who continue to exert unlawful pressure on businesses; the National Bank released its new financial stability report, pointing out major risks; and the Swedish Court of Appeal suspended execution of the Stockholm arbitration award obliging Russian Gazprom to pay $2.6 billion in favor of Naftogaz.
"Mr. X": New law for investors
The Verkhovna Rada adopted a law simplifying the entry to the Ukrainian market of foreign investors. This should ensure the introduction of foreign financial intermediaries, nominal holders – a sort of Mr X. Meanwhile, experts are divided on the prospects for the new legislation. UNIAN tries to clear up the situation.
Week's balance: Anti-corruption court for IMF, finance minister sacked, and new energy regulator's stance on "Rotterdam +" formula
Verkhovna Rada's constitutional majority adopted the Anti-Corruption Court it earlier resented, thus, fortunately, retaining cooperation with the IMF, but then immediately sacked Finance Minister Oleksandr Danyliuk, who had dared accuse of corruption the entourage of President Poroshenko. The National Energy and Utilities Regulation Commission received a new leader: its notorious ex-chief was not given even an advisor post. These are the main economic of the outgoing week.
Week's balance: Attack on Gazprom, Vovk's lay-off, and premier's war with finance minister
Naftogaz began the process of forcing a US$2.6 bln debt from Gazprom in Europe, targeting Putin's favorite Nord Stream 2; squabbles between Prime Minister Volodymyr Groysman and Finance Minister Oleksandr Danyliuk hit an international level, while President Petro Poroshenko finally approved five new members of the energy regulator and dismissed its scandalous head, Dmytro Vovk – these are the main economic news of the outgoing week.
Naftogaz attacks Gazprom's assets
Naftogaz launched a forced recovery of Gazprom's debt in the jurisdiction of European countries within the framework of the award of the Stockholm Arbitration. The first blow was struck on the assets of the Russian gas monopoly in the Nord Stream 2 project. Experts believe that this will at least delay construction of the gas pipeline bypassing Ukraine, while Gazprom will have to pay off debts anyway.
Week's balance: New tunnel to Europe, anti-corruption court's final stretch, and Russia sanctions
Ukraine has opened the Beskidy Tunnel passing through the Carpathian ridge and connecting the country with European Union with a new railway line, the National Bank warned about the need to fulfill IMF conditions as soon as possible, while the presidential administration promulgated the sanctions list against Russia – these are the key economic developments in the outgoing week.
Bosch's Dr. Stefan Hartung: I might still want to be allowed to have my secrets. In the era of the Internet of Things, discussion on personal data issues is needed – individuals are at stake
Humankind is entering a new era of the Internet of Things. In the coming years, everyday necessities like cars and household appliances will become interconnected in a single network to ensure our comfort. Technology already allows accomplishing this. But the risks to an individual that innovation might bring along lead to an active discussion about the boundaries of people's personal space, where technology might penetrate.
Week's balance: EU decides to lend EUR 1 bln, Rada outlaws palm oil, Kyiv ups public transport fares
The EU plans to lend EUR 1 billion to Ukraine, demanding more efforts to fight corruption, on the eve of summer vacations the Verkhovna Rada intends to outlaw the use of palm oil in food production, and the Kyiv authorities have decided to sharply raise the fare in public transport to prevent collapse – these are the major economic developments of the past week.
Week's balance: Punishment for Crimea, Nord Stream 2 in Germany, and oil price hikes
The Permanent Court of Arbitration in The Hague issued its award on Russia, making it responsible for the seizure of Ukrainian companies' assets in Crimea; the construction of the Russian Nord Stream 2 gas pipeline was launched in the north of Germany; and the prices of crude oil soared in connection with a decision by U.S. President Donald Trump to withdraw from the Iran nuclear deal and the imposition of sanctions on that country – these are the major economic developments of the past week.
Week's balance: cuts in subsidies, completion of sowing campaign, and large privatization list
The Cabinet decided to reduce the number of recipients of social assistance for utilities, having introduced new criteria for their provision; agrarians sowed 90% of the target area with early grains and leguminous crops; the Government committee decided on a list of large-scale state enterprises to put up for sale; and infrastructure minister Volodymyr Omelyan traveled in a second class rail car to inspect Ukrainian Railways - these are the main economic news of the outgoing week.