Business news from Ukraine

Business news from Ukraine

NBU fines PrivatBank, Alliance Bank and Asvobank

In November, the National Bank of Ukraine (NBU) fined state-owned PrivatBank, Alliance Bank and Asvobank (all based in Kyiv) for violating the anti-money laundering laws for a total of UAH 27.5 million, according to a press release from the regulator. According to the release, Privat was fined UAH 10 million, Alliance – UAH 15.1 million, and Asvibank – UAH 2.5 million.

As reported with reference to market participants, Ukrainian banks are planning to sign a joint memorandum next week, which provides for the introduction of unified market practices and approaches to customer due diligence and monitoring of financial transactions on customer accounts.

According to them, the memorandum is expected to provide for a gradual reduction of the monthly transaction limit, after which, in the absence of verified income, enhanced financial monitoring will be carried out.

, , ,

Slovakia to cut aid to Ukrainian refugees from March 1

Some Ukrainian refugees will receive less support from Slovakia from March 2025, after lawmakers approved minor amendments to immigration legislation – the Law on Residence of Foreigners and the Law on Asylum – in late November, Slovak Spectator reported.
“As of March 1, 2025, those granted Ukrainian refugee status after February 28, 2025, will be allowed to stay in asylums for no more than 60 days, up from the current 120 days. Similarly, the residence allowance will be limited to the first 60 days, rather than 120 days, as it has been since July this year,” the statement said.
The changes will not affect vulnerable groups: pensioners over 65, children under five, or single carers of these children.
The government says the measures will save the Interior Ministry EUR2 million, a necessary step given the current pressure on public spending.
Slovakia’s Deputy Interior Minister Peter Krauspe defended the changes, noting that Ukrainian refugees usually secure jobs and housing within two months of arriving in Slovakia. “We need to save money wherever possible,” he said.
But opposition lawmakers said the cuts were excessive, pointing out that neighboring countries provide support for up to 90 days. They also criticized the lack of transparency and consultation in making these last-minute changes.

 

,

Forecast of unemployment rate in Ukraine according to methodology of international labor organization until 2025

Forecast of unemployment rate in Ukraine according to methodology of international labor organization until 2025

Open4Business.com.ua

Odesa Customs announces tender for motor third party liability insurance worth UAH 60 thousand

On December 6, Odesa Customs announced a tender for compulsory motor third party liability insurance for owners of land vehicles.
According to the electronic public procurement system Prozorro, the expected cost of insurance services is UAH 60 thousand.
The deadline for submitting bids is December 14.

SPF sets starting price for privatization of Ukrbud at UAH 262.6 mln

The auction commission of the State Property Fund (SPF) has set the starting price and conditions for the privatization of 100% of shares in Ukrbud Construction Company, the SPF press service reports.

It is reported that the auction commission chaired by Deputy Head of the SPFU Igor Tymoshenko, taking into account the legal requirements, set the starting price of the sale at UAH 262.646 million.

The conditions for privatization of the state-owned stake in Ukrbud construction company were also developed. In particular, the new owner must maintain the company’s core business, pay off wage and budget debts within 6 months, pay off overdue debts (except for sanctioned creditors), and transfer dividends to the state budget for 2024-2025. For employees, the new owner must provide social guarantees, prevent dismissals within six months, and conclude a new collective bargaining agreement after the current one expires.

In the near future, the Fund will submit the terms of privatization and the starting price of the stake in Ukrbud Construction Company to the government for approval.

Ukrbud Construction Company is engaged in the design of industrial and civil facilities, construction and installation works, training and retraining of workers for the needs of the construction industry.

It includes 10 subsidiaries, including design institutes and training centers.

According to the company’s annual reports, revenue for 2023 amounted to UAH 105.2 million, which is 2.5 times higher than the results for 2022, while the net loss for 2023 amounted to UAH 3 million 53 thousand against a net loss of UAH 3 million 215 thousand in 2022.

Ukraine exported 8.96 mln tonnes of wheat in five months of 2024/25 season

Ukraine exported 8.96 mln tonnes of wheat in July-November of 2024/25 marketing year (MY July-2024 – June 2025), which is significantly higher than last year’s pace, when 5.8 mln tonnes were exported in the same five months of the season, but it is lower than the pre-war dynamics, UkrAgroConsult news agency reported.

“Nevertheless, in the first five months of the season-2024/25, 55% of the maximum wheat exports approved in August under the memorandum between the Ministry of Agrarian Policy and Food and specialized organizations of the Ukrainian grain market have already been realized,” the analysts said.

According to them, the top five importers of Ukrainian wheat are three countries of Southeast Asia: Indonesia, Vietnam and Thailand.

It is noted that the share of remote markets has increased significantly due to the stable operation of the sea corridor, but Spain remains the main destination. Among the interesting destinations is Algeria, which has already imported more than half a million tons of Ukrainian wheat this season. At the same time, the poor harvest in France prompted local importers to switch to Black Sea grain, UkrAgroConsult explains the trends.

,