Ukraine’s industrial production fell by a whopping 9.3 percent in May over the previous year, the State Statistics Service said this week. This is a sharp drop compared even to April, when industrial output dipped 2.2 percent for the same period. It also happens to be the worst since the 2008-2009 financial crisis. The news made economists revise their macroeconomic forecasts for this year. Among them, Dragon Capital investment bank downgraded its expectations of economic growth to zero. By contrast, the nation’s government continues to operate on the assumption that the economy will grow by 3-4 percent this year.

While general construction is suffering, down 29 percent in May compared to last year, according to investment bank Dragon Capital, the retail space segment appears strong. As of end-March 2013, some 1.2 million square meters of retail space were available in Ukraine, with analysts from international consultancy DTZ predicting new retail space in Kyiv will exceed 200,000 square meters in 2013.

Editor’s note: In this feature, the Kyiv Post brings together the most relevant events from morning headlines. In a note to investors, Kyiv-based investment bank Dragon Capital downgraded its industrial production forecasts for Ukraine to minus 2 percent over the previous year, following a 9.3 percent dip in industrial production in May.

Editor’s Note: The following investigative report is based on millions of leaked records involving offshore secrecy, obtained by the International Consortium of Investigative Journalists. ICIJ is an independent network of reporters in more than 60 countries who collaborate on cross-border investigations. It is a project of the Washington-based Center for Public Integrity.A British Virgin Islands court order in 2007 to disclose the assets of gas and chemicals tycoon Dmytro Firtash struck terror into the offshore world, leaked documents indicate, and offered a rare glimpse into the workings of register agents, lawyers, and other facilitators who cater to the post-communist super-rich.Today Firtash, 48, is worth an estimated $3.2 billion, according to Korrespondent’s latest assessment conducted together with Kyiv-based investment bank Dragon Capital.

JKX Oil & Gas’ (JKX LN) board of directors restricted Eclairs Group and Glengary Overseas shareholders, which hold 38.98% of total voting rights, from attending or voting at the company’s AGM on June 5, JKX reported on May 31. The senior analyst at Dragon Capital Denis Savka notes that the shareholder conflict won’t threat JKX’s current operations. "The Company itself (JKX) is not involved in the exploration and production part of the business, the operations are conducted via its daughter companies and their operations in Ukraine aré well established."

The International Finance Corporation (IFC) will disburse up to EUR 54 Ml to the big group Axzon, which raises pigs and processes meat in Poland and Ukraine, including $23 Ml to be invested in its stock. The corresponding investment agreement was signed in Kyiv. Axzon spokesman Tom Axelgaard said the funding would be spent on expanding operations in Ukraine, where it is represented by the company Danosha, and on building three biogas plants in Poland. The investment counsel for the deal was the investment company Dragon Capital.

AgroGeneration farming group announced it will soon merge with Harmelia, a 70,000-hectare farming operation in eastern Ukraine owned by private equity buyout fund SigmaBleyzer Fund IV, according to Dragon Capital.