Business news from Ukraine

Business news from Ukraine

Serbia’s trade with Ukraine rose by 42% in first half of year

According to “Serbian Economist”, Ukraine ranked 28th among Serbia’s trading partners in the first half of 2026.

Total trade between the two countries amounted to 275.9 million euros, compared to 194.6 million euros a year earlier. Thus, trade volume increased by approximately 41.8%. This is according to data from the Republic of Serbia’s Statistical Office, published on July 31, 2026.

Serbian exports to Ukraine rose by 80.2% to 161.3 million euros. Imports of Ukrainian goods increased by 9% to 114.6 million euros.

As a result, Serbia shifted from a deficit of 15.6 million euros in the first half of 2025 to a surplus of 46.7 million euros in January–June 2026.

Ukraine accounted for 0.9% of Serbia’s total exports and 0.5% of its imports.

Despite rapid growth, the volume of trade remains modest compared to the potential of both countries. Serbia’s trade with Ukraine is nearly 19 times smaller than its trade with Germany and approximately 16 times smaller than its trade with China.

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US has advised its citizens to leave Israel and other countries in Middle East

The US embassies in Israel and a number of other Middle Eastern countries have advised US citizens to consider leaving the region due to the risk of unforeseen escalation and possible disruptions to air travel.

“Due to heightened tensions in the Middle East, the security situation remains challenging, and the possibility of an unforeseen escalation persists,” according to warnings issued on 1 August by US diplomatic missions.

US citizens already in the region are advised to exercise increased caution and be prepared for flight cancellations, periodic airspace closures and other travel restrictions.

“Americans in the region should consider leaving or be prepared to leave in the event of an escalation,” the statement notes. Americans outside the Middle East are advised to seriously reconsider any plans to travel to or transit through the region.

Similar warnings have been issued by US embassies and diplomatic missions in Israel, Egypt, Jordan, Lebanon, Saudi Arabia, Qatar, Bahrain, Oman and Iraq. The diplomatic missions continue to provide routine consular and visa services.

The US Embassy in Jordan has additionally advised Americans to stay away from military bases in the country. The advisory also states that Iran and groups it supports may attack US interests and facilities abroad.

On 22 July, the US State Department issued a global travel advisory, urging Americans to exercise increased caution due to tensions in the Middle East. At that time, the department also warned of possible flight cancellations, airspace closures and disruptions at airports.

In other words, the US authorities have not ordered the mandatory evacuation of all citizens from Israel and other countries in the region. The advice is to make use of available commercial transport routes or to prepare an exit plan in advance in case the situation deteriorates further.

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Central Mining and Processing Plant Reduced Its Half-Year Loss by 17.8%

PJSC “Central Mining and Processing Plant” (CMPP, Dnipropetrovsk Oblast), a member of the Metinvest Group, reported a 17.8% reduction in its net loss for January–June of this year—to 940.865 million UAH from 1 billion 144.522 million UAH in the same period last year.

According to the company’s interim report, which is available to the “Interfax-Ukraine” agency, revenue from ordinary operations for this period increased by 11.8% to 9 billion 4.528 million UAH.

Retained earnings as of the end of June amounted to 2 billion 161.850 million UAH.

As previously reported, TsGZK’s net loss for the first three months of 2026 increased by 20.9%—to 468.466 million UAH from 387.594 million UAH in the same period last year. Revenue from ordinary operations for this period decreased by 3%—to 4.406260 billion UAH.

In 2025, TsGZK saw its net loss increase 5.3-fold, to 3,428.076 million UAH from 648.004 million UAH in 2024. At the same time, revenue from ordinary operations for the past year rose by 1%—to 15,988.004 million UAH.

The plant ended 2024 with a net loss of 648.004 million UAH, whereas in 2023 it amounted to 1 billion 326.661 million UAH. In 2022, the company saw its net profit drop by more than four times, to 2,117.831 million UAH from 8,919.978 million UAH in 2021. In 2020, TsGZK increased its net profit by 8.7% compared to the previous year, reaching 1.601 billion UAH.

TsGZK is one of Ukraine’s five largest producers of mining raw materials and specializes in the extraction and production of iron ore (concentrate and pellets). The average number of full-time employees is 3,360.

Metinvest B.V. owns 100% of the shares in TsGZK.

The authorized capital of PrJSC “TsGZK” is 296.635 million UAH, and the par value of each share is 0.25 UAH.

TsGZK is part of the Metinvest Group, whose major shareholders are PJSC “System Capital Management” (SCM, Donetsk) (71.24%) and the “Smart-Holding” group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.

 

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“Ukrtelecom” Increased EBITDA by 50% in First Half of Year

“Ukrtelecom,” the country’s largest fixed-line operator, increased its total revenue by 12.6% in the first half of 2026 compared to the same period last year—to 2.78 billion UAH, while EBITDA rose by 50% to exceed 810 million UAH, according to a company press release on Friday.

“As it has throughout the full-scale war, Ukrtelecom continues to implement its strategic approach: not merely to restore damaged networks, but to replace outdated infrastructure with modern telecom and IT equipment to implement a new optical telecom architecture and a modern IT landscape for the company,” emphasized Yuriy Kurmaz, CEO of Ukrtelecom, in the press release.

According to him, as of today, the company has over 95,000 km of fiber-optic network and is continuing a large-scale modernization of its infrastructure across the country.
It is noted that the EBITDA margin has risen to more than 29%.

The number of new connections in the residential segment increased by 81% compared to the same period last year, while the figure for small and medium-sized businesses rose by 17%.
Ukrtelecom specified that, as of the end of the first half of 2026, 1,400 medical facilities and 2,000 educational institutions were connected to the fiber-optic network. Meanwhile, revenue from fiber-optic internet services in the first half of 2026 increased by 12.5% compared to the same period last year.

Among other things, the fixed-line operator reported that revenue from commercial leases for the first six months of 2026 exceeded 320 million UAH, representing growth of more than 20% compared to the same period in 2025.
The company added that, according to survey results, the net promoter score (NPS) for new fiber-optic subscribers of the fixed-line operator in the first half of 2026 was more than 70%.

Separately, the CEO of Ukrtelecom noted that the company is simultaneously building fiber-optic networks while restoring and modernizing infrastructure damaged by hostilities in frontline regions of the Kharkiv, Sumy, Kherson, Mykolaiv, and Dnipropetrovsk regions, as well as other regions of Ukraine.
It is noted that in the first half of 2026, the company paid nearly 800 million UAH in taxes and fees to budgets at all levels.

The fixed-line operator is expected to continue investing in the development of telecommunications infrastructure.

In January–March 2026, Ukrtelecom reported a consolidated net profit of 15.46 million UAH, compared to a net loss of 652.95 million UAH for the same period in 2025.

As previously reported, in 2025, Ukrtelecom increased its consolidated net loss by 24.6% compared to 2025—to 294.87 million UAH—while its net revenue grew by 3.2%—to 4.27 billion UAH.

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38% of marriages in Ukraine in 2026 were registered online

In the first half of 2026, Ukrainians registered 30,488 thousand marriages online, or about 38% of the total, OpenDataBot reported on July 31, citing data from the Ministry of Justice. Thus, nearly four out of ten couples used the remote marriage registration procedure. In total, 79,516 thousand marriages were registered in Ukraine from January through June.

Digital offices for civil status registration are currently operating in Kyiv, Dnipro, and Lviv. These cities and their respective regions showed the largest increase in the number of registered marriages.
In Kyiv, the number increased by 38% compared to the first half of 2025; in the Dnipropetrovsk region, it increased 2.7-fold; and in the Lviv region, it increased 1.9-fold. OpenDataBot suggests that this trend is largely due to the spread of online registration.

The remote format is particularly important for military personnel, couples living in different cities or countries, and Ukrainians who are unable to visit a Civil Registry Office in person.
At the same time, in most other regions, the number of registered marriages decreased compared to the same period last year.

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Pokrovsky Mining and Processing Plant Increased Its Half-Year Loss by 30.3%

PJSC “Pokrovsky Mining and Processing Plant” (PGZK, formerly Ordzhonikidze Mining and Processing Plant, Dnipropetrovsk Oblast) increased its net loss by 30.3% in January–June of this year compared to the same period last year, reaching 194.190 million UAH.

According to PGZK’s interim report for the first six months of 2026, which is available to the Interfax-Ukraine news agency, revenue from ordinary operations for this period decreased by 29.5% to 374.943 million UAH. The accumulated loss as of the end of June 2026 amounted to 556.538 million UAH.

The report notes that the Nikopol Ferroalloy Plant and ZZF remain the company’s main customers at present. At the same time, PGZK continues to expand its sales geography by maintaining negotiations with potential foreign buyers. During the reporting period, foreign trade contracts were signed with partners from Georgia and Slovakia. Actual product shipments are currently being made to both countries.

In the second quarter of 2026, management identified the following key areas of focus: reducing and optimizing tax liabilities; improving energy efficiency by reducing specific energy consumption; optimizing the use of fuels and lubricants; improving the organizational structure and optimizing staffing levels; increasing revenue from ancillary activities, in particular the sale of ferrous and non-ferrous scrap metal and the provision of transportation and construction services; continuing to support the Armed Forces of Ukraine.

As reported, PGZK increased its net loss by 25.56% in January–March 2026 compared to the same period last year—to 114.678 million UAH from 91.322 million UAH; revenue from ordinary operations for this period decreased by 52.2%—to 133.646 million UAH.
In 2025, PGZK reduced its net loss by 47% compared to 2024—to 377.357 million UAH from 712.380 million UAH; income from ordinary activities for this period increased by 26%—to 1 billion 281.772 million UAH.

Four Cypriot companies—Profetis Enterprises Limited, Exseed Investments Limited, Clemente Enterprises Limited, and Alexton Holdings Limited (all based in Cyprus)—each own 24.3024% of the shares in the private joint-stock company.
The authorized capital of the private joint-stock company is 736.134 million UAH, and the par value of each share is 0.25 UAH.

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