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Real estate investments in Odessa and articles about Ukraine economics

  • Privatbank gets record syndicated loan

    Ukraine's largest bank in terms of assets has landed a record $300 million loan from an international syndicate, reflecting foreign financial institutions' growing trust in the country's banking sector, which is increasingly attracting funds from abroad for development. ...

  • Investment flows into auto business amid growth

    Better access to loans and other factors have continued driving up new car sales this year, while Ukraine's automobile manufacturers are increasingly tapping into Western capital markets to fund bold expansion efforts. ...

  • Ukraine rated among world's most attractive retail markets

    International retail giants continue to seek expansion opportunities in Ukraine, ranked as one of the most promising retail markets worldwide. ...

  • Apartment prices continue to skyrocket on high demand

    Prices continue to surge on Ukraine's residential real estate market, with no rollback in sight in Kyiv or the country's other big cities, despite increasing available space. ...

  • Luxury Kyiv apartment block increasing both floors and prices

    According to Vyacheslav Ushakov, who manages the Capitol building project for 21st Century, apartments began selling at around $4,000 per square meter in late 2003, but prices have gone dramatically higher since then ...

  • Ukraine's economic recovery should have been expected

    It was not even re-privatization per se, but the real threat of having a massive re-privatization, fueled by the disagreements within the Orange team that scared away many investors ...

  • Ukraine's west attracts electronics

    A major international electronics manufacturer has launched construction of an electronic components plant in western Ukraine in a move that looks to capitalize on Ukraine's inexpensive labor, tax breaks and the huge consumer market located next door in the EU. ...

  • Chamber Business Luncheon with Mr.Viktor Ivchenko, Head of the State Agency for Investments and Innovations

    The chamber was pleased to host Mr.Viktor Ivchenko, Head of the State Agency for Investments and Innovations, during a recent Chamber Business Luncheon. The President of the American Chamber of Commerce, Mr. Jorge Zukoski, opened the Luncheon by welcoming all participants and providing a brief biography of the distinguished speaker. ...

  • Greece to Invest Over Eur 1.5 Billion in Ukraine

    Greece plans to invest over EUR 1.5 billion in Ukraine in the near future. This figure was inveigled at a joint press conference of Greek Deputy Minister of Foreign Affairs Evripidis Stylianidis and Deputy Industry Minister of Ukraine Viktor Baranchuk in Kiev on June 8. Seventy-eight Greek companies are currently operating in Ukraine and their number is growing. ...

  • Ukraine sees rise in GDP

    Ukraine's real GDP rose 8.5% year-over-year in May, and 4 % year-over-year from January through May, the Ukrainian Statistics Committee has reported. Ukrainian normal GDP in May alone amounted to about UAH 37.876 billion, while it was UAH 166.587 billion from January through May. ...

  • Ukraine signs bilateral agreements on cooperation with the Netherlands

    The official ceremony of signing bilateral agreementson cooperation between Ukraine and the Netherlands took place in the Binnenhof Palace in The Hague following a bilateral meeting between Ukrainian President Viktor Yushchenko and Prime Minister of the Netherlands Jan Peter Balkenende on June 7. ...

  • Yushchenko calls on Black Sea region countries to cooperate in energy

    Ukrainian President Viktor Yushchenko has called on the countries of the Black Sea region to step up energy cooperation through taking a more active role in the formation or the European energy security strategy. ...

  • Driving Ukraine's Economic Engine with Corporate Social Responsibility

    "Our goals are to grow our brands and the value of our business, to improve productivity and to embed the principles of corporate social responsibility group wide" ...

  • Newly Appointed U.S. Ambassador Arrives in Kiev to Support Ukraine

    Ambassador William B. Taylor, who was confirmed by the U. S. Senate as U. S. Ambassador to Ukraine on May 26, 2006, presented his credentials to Ukrainian President Victor Yushchenko on June 21. ...

  • Q&A with President Viktor Yushchenko

    Ukraine is at the final phase of joining the WTO. Protocols on access to the markets of commodities and services have been signed with 47 member countries of the working group, and negotiations with Kyrgyzstan and Taiwan are nearing completion. ...

  • Growth Potential

    Ukraine's Agriculture Sector could be One of the Roots of the Country's Future Success, if the Government can do the Groundwork ...

  • A growing future for Ukrainian agriculture

    FAMOUS FOR ITS BLACK SOIL AND FAVORABLE CLIMATE, UKRAINE FACES CHALLENGES IN FACILITATING THE DEVELOPMENT OF AGRICULTURAL INFRASTRUCTURE, SUPPORTING FARMERS AND AGRI-BUSINESSES IN A SUSTAINABLE FASHION, ATTRACTING ADDITIONAL FOREIGN AND DOMESTIC INVESTMENT AND ENSURING THAT MODERN TECHNOLOGIES ARE UTILIZED TO INCREASE EFFICIENCES AND CAPTURE COMPETITIVE ADVANTAGES. ...

  • Microsoft suspends deal with Ukrainian government

    Microsoft Ukraine, a 100 percent subsidiary of the multinational software giant Microsoft, has suspended its agreement with the Ukrainian government on legalization of the software programming used by government agencies due to the state's failure to keep up with the terms of the agreement, a company spokesperson said: "The fulfilment of the agreement was suspended because its terms were not implemented, "according to Yevhen Sozansky, manager of software legalization at Microsoft Ukraine. ...

  • Schools profiting from foreigner boom

    Together with foreign investment, top managers of international companies continue to arrive in Ukraine, driving up the demand for Russian language lessons in Ukraine's capital city. ...

  • CEO of Kiev-based real estate firm talks expansion

    21st Century, a Kiev-based real estate developer and property manager, is expanding to Ukraine's regions following its IPO on the London Stock Exchange last December, Chief executive Officer Nikolay Yerzharnovsky has said. ...

  • Ukraine's New Ambassador Gets an Earful!

    Having lived in Ukraine full-time for almost 12 years and having been involved with the country long before that, I've had a ringside seat to much of the country's independent history. And I'm able to claim certain distinctions, mostly by happenstance, not any particular brilliance of my own. ...

  • Appetite for Catering Services Grows

    Catering is a niche in the food service industry that is still developing in Ukraine with only seven to 10 major provides. However, despite this relatively short list of industry leaders, increasingly more restaurants have been entering the catering and banqueting services business, citing demand and successful word of mouth advertising by their long-standing clients. ...

  • Business Briefs

    Ukraine's preliminary current account deficit for the first five months of 2006 totalled $1 billion, or 3% of gross domestic product for that period, down from 4% of GDP in the first quarter, the National Bank of Ukraine reported. ...

  • USAID Assists Ukraine Increase its Energy Security

    Kyiv, Ukraine - Today, July 10, the U.S. Agency for International Development (USAID) launched a $1 million program to help increase energy efficiency in Ukraine and strengthen Ukraine's energy independence. USAID/Ukraine Mission Director Earl Gast United announced the program during a press conference in Odessa, where he had traveled to learn more about energy efficiency efforts. ...

  • WB to help expand rural credit

    The World Bank is to loan Ukraine $150 million to finance a program intended to expand access to credit for the country's rural areas. ...

  • More boom for your investment buck!

    For over the past six months, Ukraine has experiencing an investment boom thanks to an increased flow of capital from countries of the EU ...

  • Odessa Region Town Boasts Mystery Investor

    An anonymous Czech company is ready to invest approximately $1.2 to $2.4 billion in the construction of a thermal power plant in Odessa region, according to the investor's intermediary in Ukraine. ...

  • Investment optimism

    As it turns out, the Ukrainian stock market is one of the most dynamically developing and promising markets in Europe, despite its risks and outdated legislation. The metallurgy, banking and real estate sectors are particularly attractive to Ukrainian and foreigners with free capital. ...

  • Ukraine's commercial real estate development goes regional

    Although new shopping malls and business centers are under construction in Kyiv and throughout Ukraine, the demand for high quality retail space, office facilities and warehouses will not be met in the near future. ...

  • Discover two Odessa's best restaurants

    In keeping with our feature on Odessa, I've crisscrossed the city and interviewed dozens of locals (okay, three, actually - but they really knew what they were talking about) to find you the best meals in the cultural capital of Southern Ukraine. And it wasn't easy: Odessa is an embarrassment of riches when it comes to cuisine. Taking their culinary cues from the Mediterranean much more than any Slavic sense of dining, Odessan restaurants offer visitors long and languid feasts with food that should be consumed slow enough for savoring. It's not uncommon for a meal here to last hours, each succulent course broken only by much pouring of ubiquitous wine. So, though you can have a fine dinner in dozens of eateries here, I know my readers are ruled by the most discerning of palates, and depend on me to find them only the best. After much effort, I humbly submit the following selections. ...

  • Welcome to Odessa!

    No less a writer than Mark Twain wrote nearly a century and a half ago that "I have not felt so much at home for a long time as I did when I 'raised the hill' and stood in Odessa for the first time." So it's only fair to begin this travel feature with a caveat: I have also completely fallen in love with the place. And nothing that follows here, of course, will be in the least objective. Rather, it will be full of the hyperbolic superlatives you've come to expect from me. But, honestly, Odessa makes it rather easy to gush - there's a reason why the locals here refer to their home as "Odessa Mama:" the warmth of the mood here is at least as enveloping as the thick arms of your most beloved babushka. ...

  • ISP market developing in line with rising Internet activity

    The Ukrainian Internet service providers (ISP) market is not only becoming more competitive, but as the network and infrastructure expands and becomes increasingly diversified, the price of Internet access continues to fall. ...

  • Ukraine, Polish leaders agree on closer energy cooperation

    WARSAW, Poland (AP) - The leaders of Ukraine and Poland agreed Friday to intensify cooperation in the energy sector and said they will examine a proposal to extend a Ukrainian natural gas pipeline to a Polish refinery and port. ...

  • Ukraine's Yushchenko heads to Poland to discuss his country's Western aspirations

    (AP) President Viktor Yushchenko headed to Poland on Friday for a two-day visit aimed at expanding trade between the neighbors and shoring up Polish support for Ukraine's aspirations to join the European Union and NATO. ...

  • Hotel business expanding in Ukraine

    Recent trends in Ukraine's hospitality industry suggest that although the shortage of quality hotels remains an issue, the industry has been exhibiting strong signs of growth. In addition to several international operators that successfully entered the market last year, small privately-owned hotels have also been proliferating, especially in western Ukraine. ...

  • Gas tycoon's revelation fuels more suspicions

    A once camera-shy Ukrainian businessman raised eyebrows last week by revealing his beneficiary ownership of a major stake in controversial Swiss-registered RosUkrEnergo, which controls the multi-billion-dollar business of supplying Ukraine with natural gas from Russia and Central Asia. ...

  • Odessa

    Odessa is a place of delightful spring evenings, the spicy smell of acacias and the moon shining regularly and irresistibly over the dark sea, Isaac Babel once wrote about his native city. ...

  • Black Sea Gambit

    Ukraine is about to open its Black Sea shelf to large-scale exploration and drilling by international oil companies, following a tender won by an independent United States-based energy company that says it's ready to funnel hundreds of millions of dollars into finding and extracting oil and natural gas under a production-sharing agreement. ...

  • More tourists visiting Ukraine recently

    Whether green or traditional, tourism in Ukraine appears to be rising steadily. In 2005, 17.6 million tourists visited Ukraine, Ukraine's State Tourism Administration reported on its website. This was a 13 percent increase from 2004, or an additional 3.1 million visitors. This trend should continue, with a projected 19.6 million visitors expected to come to Ukraine in 2006, the STA reported. ...

  • Creditors grant landmark loans to steel industry

    Two of Ukraine's largest steel producers, Mittal Steel Kryviy Rih and Donbass Industrial Union, are drawing landmark-sized loans to fuel their growth and expand their presence on the global steel market. ...

  • Izvestia: Ukrainian businessman linked to murky Russian-Ukrainian gas venture

    MOSCOW (AP) - Two Ukrainian businessmen are among the main beneficiaries of a secretive Russian-Ukrainian natural gas venture thrust into the spotlight during a New Year's price dispute that briefly cut gas supplies to Ukraine and Europe, a Russian newspaper reported Wednesday. ...

  • Travel agencies cashing in on trips to Chornobyl

    Wesley Dodd, a senior producer at the BBC's Moscow Bureau, was very busy on April 25. He had to make sure his team was ready for a live broadcast from Kyiv by the BBC's World Service and that all of his seven journalists were accredited for the next day's memorial commemoration ceremony at the Chornobyl nuclear plant, located just 130 kilometers north of the Ukrainian capital. April 26 was the 20th anniversary of the Chornobyl explosion, the world's worst nuclear disaster, which sent radioactive fallout across Russia, Belarus and much of northern Europe in 1986. ...

  • Software business growing steadily

    "If the industry is going to survive, it's going to have to make sure that it has the people and resources that it needs." ...

  • Ukraine yet to cash in on Kyoto

    Ukraine can earn billions of dollars as a signatory to the international Kyoto Protocol by selling its so-called 'surplus carbon emissions to developed countries, but the country still lags behind its neighbors in making this happen. ...

  • Expat to promote regions using web portal business project

    During the 15 years that Nicholas Labenskyj has lived in Ukraine, he has done everything from construction to running a marriage agency. Now the 60-year-old New York native jokes that he is "too old for prostitution" and devotes most of his time to promoting Ukraine's many other attractions. ...

  • Boryspil gets more investment on the ground

    Swissport International, the world's leading ground - and cargo-handling business, has entered the Ukrainian market in anticipation of increased transit travel through Kyiv's Boryspil International Arport (KBP). Swissport recently purchased a 51 percent stake in Interavia, one of Ukraine's major ground-handling firms. However the deal is awaiting final approval from Ukraine's Anti-Monopoly Committee. ...

  • Chernovetsky: big changes ahead for capital

    The Kyiv branch of Ukraine's Central Election Commission announced the official results of its mayoral and council elections on April 4, opening the door for a complete reshuffling of power in the nation's capital. ...

  • Ukrainian insurance sector expecting more growth

    Ukraine's insurance industry continues to grow against a backdrop of statistics that suggest domestic companies are being used less to facilitate tax evasion schemes and more to provide the public with financial protection. ...

  • Poland's cold shoulder warning up to Ukraine

    After the Orange Revolution the attitude of Poles towards Ukrainians changes for better. ...

  • Europe to seal the seams in the Ukrainian pipeline

    An international consortium presented the Odesa-Brody-Plock oil pipeline project in Poland. The project stipulates the construction of Brody-Orzechowo oil pipeline with the further use of the existing stretch of the Orzechowo - Plock pipeline and increasing the capacity of the Odessa-Brody leg. The period of planned construction is 18 months. A consortium consisting of three European companies SWEGO PIC (Finland), ILF GmbH (Germany) and KANTOR (Greece) will be extending the Odessa-Brody oil pipeline to the Polish city of Plock (pronounced Plotsk). ...

  • EU wants to define its borders

    On March 16 the European Parliament accepted the report, in which it appealed to the European Commission to clearly define the "character and geographic borders of the EU" by the end of 2006. ...

  • Ukraine set to complete WTO talks by mid-May

    "Ukraine plans to complete negotiations on WTO entry in full before the next meeting of the working group, which will take place in the second half of May 2006," the Ministry of Economy said in a statement issued on March 18. ...

  • Stock markets: the gauge of economic growth

    The stock market index in Ukraine known as the PFTS can be compared to the Dow Jones in New York or the German Dax. PFTS stands for the First Stock Trading System. ...

  • Shape up or ship out

    The ministry of Transport and Communications thinks that Ukraine should use the European model and principles of attracting private capital in the development of ports. In particular, an investor should be given the right to developing and maintaining Ukraine's port infrastructure, logistics systems and warehouses, though the pier will remain in state ownership. Besides that, the state will control the safety of ships and perform the functions of customs, border and sanitary control on behalf of the maritime administration. ...

  • Czech airline to open new line between Prague and Ukraine's Odessa

    PRAGUE, Czech Republic (AP) - The Czech state-run airline, CSA, is opening a new line between Prague and Odessa in Ukraine, the company said Monday. ...

  • Top energy officials in conflict over electricity export schemes

    Ukrainian energy officials are waging a war with each other for control over the country's lucrative but secretive electricity export business. ...

  • Germany's METRO continues expanding in Ukraine

    Germany's METRO Group, one of the largest retail and wholesale traders in the world, laid the cornerstone for a new store in Ukraine's eastern city of Luhansk on March 3, for what will be the supermarket giant's ninth store in the country. ...

  • The coast is clear

    On March 6, Ukraine and the U.S. signed in Washington, D.C. a protocol on the mutual access to goods and services markets. ...

  • Poland seeks completion of Odessa-brody pipeline

    During an official visit to Kiev, Polish Presedent Lech Kaczynski and Ukrainian President Viktor Yushchenko signed a joint declaration on improvement of cooperation in the sphere of power sector development. ...

  • EU introduces Twinning

    On March 2 a new method of cooperation between the European Union and Ukraine called Twinning was presented ...

  • Thousands of demonstrators urge probe into massive Kyiv real estate fraud

    (AP) About 8,000 demonstrators rallied Thursday in the Ukrainian capital, demanding a thorough investigation into a massive real estate fraud. ...

  • AES, CEZ in final bidding for power distributors

    Two leading Western power companies are entering the final stages of negotiations to acquire from majority to blocking stakes in up to seven Ukrainian electricity distributors from a secretive Russian business group. ...

  • New high-class hotel opens in Lviv

    An exquisite six-story hotel claiming to offer services matching those available in four-star hotels in the West opened its doors last week in the city of Lviv, as foreign investor interest continues to grow in this architecturally rich, but investment poor, cultural capital of western Ukraine. ...

  • Steel groups extend grip into Europe

    Faced with import tariffs and quotas from major markets, such as the United States and European Union, Ukraine's lucrative steel industry has increasingly been expanding abroad with acquisitions of factories in countries where its products are sold. ...

  • Risk is Not Always a Noble Thing

    The Ukrainian customer is used to high prices for dwelling on the primary market ...

  • New Polish president arrives in Ukraine for first official visit

    (AP) Poland's new President Lech Kaczynski arrived in Ukraine Tuesday for a visit aimed at reinforcing the two neighbors increasingly close ties and shoring up this ex-Soviet republic's pro-Western path. ...

  • Ukraine, Polish presidents call for progress on stalled Odessa-Brody pipeline

    (AP) The Ukrainian and Polish presidents on Tuesday called for progress on getting the stalled Odessa-Brody oil pipeline up and running, saying the project could help enhance Europe's energy independence. ...

  • Increasing costs, demand inflate residential prices

    Scams or no scams, local developers say that the rising cost of construction materials and unremitting demand for new apartments from potential homeowners will continue pushing prices up on Ukraine's primary residential real estate market. ...

  • Minority shareholders protest Ukrsotsbank sale agreement

    Little more than a week has passed since an agreement was reached to sell a controlling stake in one of Ukraine's top ten banks to Italy's Banca Intesa for over a billion dollars. However, minority shareholders in Ukrsotsbank, over 85 percent of which is owned by companies controlled by Ukrainian tycoon Viktor Pinchuk, are planning to challenge the sale in court. ...

  • U.S. grants market economy status; WTO bid progressing

    Following years of bilateral negotiations, the United States has finally recognized Ukraine as a market economy. In the short term, however, the move will likely go more towards improving the image of the embattled administration of President Viktor Yushchenko than offering any tangible economic results. ...

  • Ukraine attracts record $7 billion in FDI inflows

    Billions of dollars received from the sales of Kryvorizhstal and Aval Bank have given a major boost to the country’s foreign direct investment figures for last year, totaling nearly five times more than in all of 2004. ...

  • President urges Ukrainian scientists to focus efforts on finding bird flu vaccine

    (AP) Ukrainian President Viktor Yushchenko called on the country's scientists and laboratories Saturday to turn their attention to bird flu in the hope of finding a vaccine. ...

  • Ukrainian president orders government to help sort out massive Kyiv real estate scandal

    (AP) President Viktor Yushchenko ordered his government Saturday to help sort out a massive Kyiv real estate scandal in which thousands of Ukrainians bought new apartments that were secretly being sold to multiple buyers and were never completed. ...

  • Investment, tourists pour into ski resorts

    An influx of tourists eager to ski in Ukraine's Carpathian Mountains is fueling investment into the region like never before. Standards for comfort and capacity remain low compared to ski resorts elsewhere in Europe, but tens of millions of dollars have been invested in the region in recent years, expanding in the wake of increasing numbers of tourists from across Ukraine, Russia and elsewhere. ...

  • Italian bank buys Ukrsotsbank for $1.3 billion

    "High growth rates [are] foreseen both for the economy and banking system of ukraine, which has over 47 million inhabitants." ...

  • Kyiv housing scam raises questions, fuels distrust

    At least 1,500 apartment buyers were left with nothing but worthless deeds this month when the organizers of a $100 million real estate investment scheme fled the country in late January. But the documents they were left with lead back to the Kyiv Mayor's Office, indicating top officials were either negligent or complicit in the alleged scam. ...

  • Stock market surges to near record high

    The Ukrainian stock market has surged over the last year, with trading in blue chips and lesser-known stocks nearing all-time highs, as investor confidence takes root in the country's increasingly pro-Western political landscape. ...

  • Banking on Ukraine

    As the Post reported in a front page story, this week saw yet another major bet placed on Ukraine from abroad - the third, in fact, within less than a year. Ukrsotsbank was sold to Italy's Banca Intesa in a transaction valued at just over $1 billion. ...

  • Foreign investments drive demand for international accounting

    With evidence mounting that more foreign investors are finding this former Soviet backwater investment-attractive, accounting and audit firms have been at the forefront of turning murky Ukrainian companies into potentially juicy acquisitions by helping bring their accountancy practices in line with Western standards. ...

  • New hotel projects under development

    "No doubt, Kyiv is in great need of quality hotels, both leisure and business segments." ...

  • Q&A with Earl W. Gast, new director for USAID Regional Mission in Ukraine

    Earl W. Gast was sworn in as the new Director for the United States Agency for International Development's Kyiv-based Regional Mission in August 2005 to manage more than $105 million worth of projects in Ukraine, Moldova and Belarus. Gast has worked for USAID since 1990 in the Philippines, Moscow, Ukraine and the Caucasus, serving as Deputy Mission Director in Kosovo and Iraq in 2002 and 2003, respectively. In this interview with the Post, Gast describes the work of USAID in Ukraine and his view of how the country has changed. ...

  • Airlines compete on meals, service and fancy jets

    "I defy anyone who gets on board one of our aircraft and say that it's old." ...

  • Europeans buying out glass plants

    Two large European glass manufacturers are close to acquiring glass factories in Ukraine, each of which has posted annual sales in recent years in the range of $30 million. ...

  • Re-privatization should be avoided

    Summing up the economic results of 2005, one indicator strikes you: economic growth in Ukraine plummeted from 12.1 percent in 2004 to 2.4 percent in 2005. Was this huge decline real? President Viktor Yushchenko has argued that the growth in 2004 was greatly exaggerated by virtue of previous doctoring of foreign trade statistics. Exports were exaggerated in order to extract fraudulent VAT refunds, while large imports entered through the free economic zones, little havens of tax evasion. ...

  • US-Ukrainian software venture launched

    Ukraine's burgeoning software development industry has gotten another boost from the West, with the creation of a US-Ukrainian joint venture that will facilitate software sales in America and Europe while increasing outsourcing contracts at home. ...

  • Almost in the WTO

    But not quite yet. Valeriy Piatnitskiy, vice Minister of economy of Ukraine, tells commerce what is delaying Ukraine's entry into the World Trade Organization. ...

  • Increase in Auto Sales

    Neither the tariff hike on imported cars nor an economic slowdown could put a brake on demand for cars in 2005. In fact, many car dealers saw impressive sales, indicating that Ukrainian's purchasing power is growing. ...

  • More Ukrainian Companies Go IPO

    A growing number of Ukrainian companies are lining up to raise capital via initial public offerings on foreign stock exchanges. And there are plenty of foreign investors eager to snap up shares. ...

  • Plans for 2006

    During the Second Economist Roundtable, which took place in Kyiv last November, President Viktor Yushchenko told about 150 chief executive offices and top managers from Ukraine, Russia, Europe and the United States about the government's plans to stabilize and modernize the economy in 2006. ...

  • How will Market Economy Status and Accession to the WTO Impact the Development of Ukraine's Business Climate?

    In December 2005 the European Union granted Ukraine Market economy Status, and there is speculation that the United States Might do the same in 2006. The current leadership of Ukraine aspires to join the World Trade Organization (WTO) in the future. ...

  • The Future of Privatization

    According to some estimates, 60-70% of Ukraine's GDP comes from the private sector. In 2006 the country's government plans to privatize more of its major assets. Professionals experienced with the process discuss the challenges of privatization in the new Ukraine ...

  • Biding their Time

    Ukrainian assets are increasingly attractive to foreign investors. Now that the pragmatic Yuri Yekhanurov is prime minister Expectations of western businesses are even higher-2006 should bring more favorable context, writes Alexander Kramarenko ...

  • Law could quickly fizzle Ukrainian champagne business

    A Ukrainian law limiting the word "champagne" to a specific category of sparkling white wines has created concerns within the industry that producers could suffer huge losses. ...

  • ProstoFinance wants to speed loans to consumers

    France's Societe Generale banking group has opened a consumer credit unit here called ProstoFinance, emphasizing quick and easy loans to consumers. Officials at ProstoFinance, the only credit institution in Ukraine that is not a bank, say this gives them an edge on the market. ...

  • Shipping giants eager to invest in Ukraine's ports

    Faced with increasing demand from exporters and importers, Ukraine's aging Soviet-designed sea ports continue to woo international terminal operators interested in renovating old facilities or building new ones. ...

  • Developer bumps heads with soccer officials

    A construction project in central Kyiv has sparked a conflict between developers and Ukrainian soccer officials, who claim the planned commercial center could ruin the joint Ukraine-Poland bid to host the EURO 2012 Soccer Championships. ...

  • Fast food supplier set to buy plant in Vinnytsya

    The principle meat supplier to fast-food giant McDonald's is close to acquiring a controlling stake in a meat processing plant in Kozyatyn, Vinnytsya region. ...

  • Naftogaz Ukrainy seeks stake in shadowy gas trader

    Officials at state oil and gas company Naftogaz Ukrainy say their company is eager to buy a 50-percent stake in RosUkrEnergo, a natural gas trading firm that generates billions in revenues annually by supplying gas to Ukraine. ...

  • Raiffeisen Ukraine replaces top local executive

    Months after acquiring one of Ukraine's top banks, Austria's Raiffeisen Banking Group has reshuffled top management of its Ukraine operations. ...

  • Rents, other factors, affect ex-pat restaurateurs

    In Kyiv, where the real estate market continues to boom and systemic corruption means rental agreements are often only as good as the paper they're printed on, it would seem logical that ex-pat restaurateurs would be reeling from rent hikes in a city that has already put a French butcher out of business in recent months. But not necessarily, at least depending on who's talking. ...

  • UMC may soon launch Blackberry service in Ukraine

    Blackberry, a leading wireless platform widely popular with the big companies in the West, could be offered to UMC corporate clients in the first half of the year, if talks with the official owner of the BlackBerry trademark are successful. ...

  • Eli Lilly boosts local insulin maker

    The Kyiv-based Farmak pharmaceutical company launched Ukraine's most sophisticated insulin production last month, thanks in large part to a cooperation pact with American pharmaceutical giant Eli Lilly. ...

  • Finnish real estate firm to hit Kyiv

    A new real estate investor has declared its intention to put money into Ukraine's hot property market, where prices have been rising annually in double digit figures over the past several years. ...

  • Mittal Steel Gets a Regative Credit Outlook in Connection with Kryvorizhstal Acquisition

    Mittal Steel's successful $4.8 billion bid for Kryvorizhstal, Ukraine's largest steel mill, might have negative implications for the Netherlands-registered steel giant, reports Standard & Poor's. ...

  • Velyka Kyshenia Raises $27.5 Million Through IPO

    Velyka Kyshenia, one of Ukraine's leading supermarket chains, completed an initial public offering last week on the Ukrainian stock market, teasing foreign investors ahead of a planned 2007 foreign listing. ...

  • Ex-pat head of Kvazar-Micro talks about his first year

    Since October 2004, Canadian-born ethnic Ukrainian Bohdan Kupych has been general manager for Ukraine and vice president for business development at Kyiv-based Kvazar-Micro, a systems integration, software and hardware company. Prior to that, he was director of marketing and sales at UMC from 1998 till 2001. The Post talked to him in his office on Dec. 16. ...

  • Kazakh President Urges Ukraine to Join Ex-Soviet Economic Bloc

    "Independence for Kazakhstan is issue No. 1, and we aren't planning to make any concessions just as you aren't," Nursultan Nazarbayev said during a speech in Ukraine's parliament as he wrapped up a two-day visit. "But this (union) represents a normal degree of integration." ...

  • Donetsk Tycoons Looking to Buy Austrian Bank

    Most of the talk in Ukraine's banking sector in the last few months has been about the arrival of foreign banking giants, such as Raiffeisen and PNB Paribas, which acquired two of the nation's top banks in recent months. ...

  • In Need of Image Makeover, Ukraine Turns to Experts

    Ukraine's Foreign Ministry is going to hire a public relations firm to improve the country's image abroad - and the ministry is prepared to pay 4.5 million euros ($5.4 million) to whichever agency wins the account. ...

  • Real Estate Developer to Launch Landmark IPO

    Kyiv-based real estate developer and property manager XXI Century is days away from launching the largest initial public offering on a foreign market by a Ukrainian company. ...

  • Apartment prices might be stabilizing in Kyiv

    Prices on apartment have ceased to grow, experts say, and may even be decreasing. ...

  • Business research firm highlights Ukraine's emergence

    The Oxford Business Group (OBG), a company specializing in research of emerging markets, has arrived in Ukraine to publish the local edition of the Emerging Markets Series - Emerging Ukraine 2006. ...

  • Will Kyiv Become a Bland, Gutted, American-Style City?

    Andrey Slivka: I salute you for your truculent opposition to the construction of Olympic Plaza ("Save Kyiv from the architects!" Nov. 17). Kyivans have the right to walk their city's streets without feeling alienated by commercial monstrosities, and they have the right to celebrate the remarkable history of their city - which survived invasions, fires, communist urban planning, and wars - through architecture. It would be a shame if present-day architectural depredations infringed upon those rights. Sadly, projects like Olympic Plaza threaten the integrity of the city and threaten to turn Kyiv into a cultural wasteland. ...

  • Austria's Cargo-Partner launches Ukraine branch

    Austria's Cargo-Partner, one of Europe's leading transportation and logistics companies, opened a Kyiv subsidiary last month in a move that highlights the Ukrainian market's growing importance for European and Asian traders. ...

  • More Local Companies Floating IPOs

    A growing number of medium-sized Ukrainian companies are opting to float a small chunk of their equity abroad through initial public offerings to raise capital. ...

  • Short-Term Room Rental Still Popular Stay Option

    Short-term Apartment rental is one of those real sectors that doesn't really exist in the United States, at least not as it does in Europe. No one plans to rent an apartment for a week-long stay in New York or Chicago. Instead, such people go to hotels, which run from cheap to expensive. In Ukraine, however, most travelers, especially those on a budget, turn to short-term apartment rental. ...

  • WTO or BUST

    Prime Minister Yuriy Yekhanurov on Nov. 1 told political and business leaders in Washington that Ukraine has fulfilled conditions for signing a protocol with the United States on entry to the World Trade Organization (WTO). ...

  • In Kyiv, short-term room rental still gold

    Short-term apartment rental is one of those real estate sectors that doesn't really exist in the United States, at least not as it does in Europe. No one plans to rent an apartment for a week-long stay in New York or Chicago. Instead, such people go to hotels, which run from cheap to expensive. In Ukraine, however, most travelers, especially those on a budget, turn to short-term apartment rental. ...

  • With Tax Law Unclear, Real Estate Market Waits

    Earlier this month parliament passed a bill on first reading that would decrease taxes on real estate transactions. At first glance, it seems that the bill's provisions, if adopted, would put a damper on the booming market, but some experts say the real problem is the vacillating Rada. ...

  • Bird flu experts take wing to Odessa

    Ukraine, Romania and Moldova have formed a joint commission to prevent the spread of avian flu following confirmation that dead birds found in the Danube delta were infected by the virus. ...

  • Discover Ukraine's True Left Bank

    Go East! Kharkiv, Dnipro, Donetsk and Beyond ...

  • Supermarkets Look to Regions

    "Retail is the most dynamically developing business field right now," says Andriy Blyznyuk, director of the National Association for Development of Trade and Service, a union of retail chains. ...

  • What's Better, What's Worse?

    Media freedom. A year ago - not to mention 10 years ago - all major Ukrainian television stations except for Channel 5 were running a smear campaign against then-opposition presidential candidate Viktor Yushchenko. It was a scary example of the Big Lie in action. It was also the culmination of years' worth of official and ruling-class pressure on the media. Now that's all over - a result of the Orange Revolution. There are still problems with Ukraine's media, but by and large journalists are free to say what they want, whether anyone likes it or not. ...

  • Swan Discovered with Bird Flu Antibodies Near Romania's Border with Ukraine

    BUCHAREST, Romania (AP) - A swan has been discovered with bird flu antibodies near the Ukrainian border, Romanian agriculture minister said Oct. 17. ...

  • A new refinery

    The story is circulating that a consortium of local and U.S. interests are planning on building a state-of-the-art $3 billion oil refinery complex in Lviv oblast - and the story is intriguing. ...

  • U.S. Interests Backing $3 Billion Oil Refinery

    A consortium of investors from the United States and Ukraine are teaming up to build a new oil refinery complex in western Ukraine with a whopping price tag of $3 billion. ...

  • Ukrainian Internet Usage Rises Sharply

    The percentage of Ukrainians who regularly use the Internet for information and correspondence is rising sharply, according to a study conducted by market research firm GfK-USM. ...

  • Ukraine's Budding Investment Market

    There is no doubt that Ukraine is a country of great opportunities for foreign investors. In fact, the potential areas for investments go beyond agriculture and industry. Investments in Ukraine can be very profitable - you just need to know how and where to invest. ...

  • Expert real estate advice. Build your own investment

    Englishwoman Marti Whelan is development director at Astera, a real estate consulting and brokerage firm with offices in Kyiv, Moscow and St. Petersburg. The Post sat down with her during her recent visit to Kyiv in Astera's office in Podil and asked her to compare Kyiv with its Russian counterparts. ...

  • Mild West: Beautiful Kolomiya

    Vibrantly patriotic, cozy and welcoming, Kolomiya offers everything you'd expect from a small town in Western Ukraine. But there's more to this storied Galician town - a perfect place for a weekend trip - than first-time visitors might suspect. ...

  • A Slice of Hungary, in a Corner of Ukraine

    The Zakarpattya (Transcarpathian) region in southwestern Ukraine, the geographic center of Europe, has long been a crossroads for European traders and conquering armies. The land has been fought over since before the time of the Mongol invasions in the 13th century, but today this region boasts a unique ethnic diversity. ...

  • Mortgages boost real estate sector

    Mortgages, though a new phenomenon in Ukraine, are already having a huge and growing effect on its real estate market. ...

  • Yes to zoning

    People in the Ukrainian power structure - in particular Volodymyr Nosyk, the Verkhovna Rada's councilor on land relations - are starting to make noises about the necessity of drafting zoning laws for Ukraine. Good for them, as the absence of them tends to be a disaster for a growing city like Kyiv. ...

  • Business travel slow to take off, but growing

    As in other industries in Ukraine, the business travel industry in Ukraine lags far behind Western standards. Foreign companies hesitate to host business conferences in the country and still relatively few see it as a pleasant destination for a short business trip. ...

  • SigmaBleyzer creates $200 m investment fund

    SigmaBleyzer, an American investment banking group, is setting up a 200-million euro ($220 million) investment fund to buy stakes in key companies in Southeastern Europe. ...

  • Crimea's Overcrowded. Try Out the Sea of Azov

    With prices up in Crimea and Odessa this year due to the influx of foreign tourists, locals and long-serving ex-pats are turning to other, lesser-known seaside places to get their sand and surf. Usher in the year of Ukraine's second sea, the Sea of Azov. ...

  • Getting Away, But Staying Local

    You want mountains? Slavske, a couple hours past Lviv on the train, is the gateway to the Carpathians. It's not the ultra-wild Carpathians you find if you penetrate farther into that mountain range, in the direction of Ukraine's Mt. Hoverla. But it's still stunning, and there hovers over the region an enchanted energy: you can see why the Carpathians, all hollows and mists, have generated a huge amount of haunted folklore. ...

  • Kyiv's getting easier for small businesspeople

    Kyiv has only just started acquiring a reputation as a place hospitable to small - and medium-sized businesses, but there are still scores of enterprises who have hit pay dirt here. Here's a look at some of them. ...

  • Major Western-style real estate fund launched

    A leading real estate firm and investment bank have teamed up to launch one of the first Western-style real estate investment funds dedicated to investment on the Ukrainian market. ...

  • Tourists flood Ukraine after visa restrictions lifted

    Vito Gandolfo has come on business to Ukraine from his native Italy dozens of times over the past decade, but only this year did his wife finally join him. Why? She no longer needed a visa. ...

  • Not Quite Autopilot: On the Road in Ukraine

    Highways in Ukraine rarely tend to the good; rather, they tend to the confusing and even confounding. However, with a good road map in hand, and our tidy instructions, be inspired to hop in the car and drive somewhere cool. Avoid the sweaty overnight trains and instead stop to smell the roses along the way. ...

  • Ukraine talking to Iran about transporting gas

    Desperate to decrease the country's dependency on Russian-controlled fuel supplies, Ukraine's government and allies have floated plans to build a massive pipeline to ship natural gas from Iran to Europe. ...

  • Eating on the Road

    Most on the road eateries around Ukraine can be characterized as unpretentious and serving rather simple food. ...

  • Kyiv's suburbs hurting for infrastructure

    Kyiv's elites are moving to big houses on the city outskirts, but progress is still slow in one key area: creating infrastructure to serve the new housing complexes. ...

  • Kyiv hotels are often started, too rarely completed

    Despite all the talk about new Kyiv hotel projects that will draw more foreign tourists here, the capital's hospitality industry saw little progress in 2004. ...

  • Real estate: Bubble, or no trouble?

    There's been a lot of talk about the housing market, and whether or not that market is experiencing a bubble, and whether or not that bubble will pop, and if so, when. ...

  • Report says Ukraine is among top global real estate targets

    Ukraine represents one of the most attractive emerging retail destinations, according to an important new industry ranking of 30 emerging markets. ...

  • Corporate apartments come to Kyiv

    Kyiv's real estate market is seeing another innovation, with the opening of Ukraine's first fully-serviced, high-end apartment building for temporary residents. ...

  • Foreign investors critical, but hopeful

    A considerable majority of investors in Ukraine assess the current investment climate in the country as bad, and some as very bad, a recent survey shows. And yet, they still have hope. ...

  • Ukrainian travelers seeking out new destinations

    Ukrainian tourists seem to stick a certain formula: if there's a beach and some sun, they'll be there. As they're getting more wealthy, however, Ukrainians are seeking out more exotic beaches. ...

  • Greek construction mammoth to expand in Kyiv and Odessa

    Greece's third largest construction company, the Michaniki Group, joined the select-club of foreign investors to bring at least $300 million to Ukraine when they announced on June 22 that they would build several entertainment and residential complexes in Ukraine over the next four years. ...

  • Bank Take Interest in Deposits?

    Bankers don't know what to do with the national currency so they have lowered interest rates on hryvnia deposits. As a result, those Ukrainians who prefer dollars will turn a profit, at least in the immediate future. ...

  • Restaurant groups expanding, seeking middle class

    Like most businesses, Kyiv's restaurant groups are seeking to expand in the wake of the Orange Revolution, hoping to lure the country's growing middle class - but they aren't interested in experimentation. ...

  • Ukrainian venture capital continues to grow

    Since the mid 1990s, private equity investment firms have played a limited role in developing Ukraine's economy. The status quo, however, is about to change with venture capital firms seeking fresh money to cash in on post-Orange Revolution opportunities. ...

  • Cargill expands sunflower business in Ukraine

    American agricultural giant Cargill has unveiled plans to acquire a second sunflower seed crushing plant in Ukraine, years after pumping some $50 million into the construction of its first such plant in Donetsk. ...

  • Ukraine's mall developers look to improve

    With Ukraine's economy experiencing a relative boom over the past three years, shopping malls and business centers have grown more attractive as an investment opportunity for real-estate developers. Kyiv already has a dozen major shopping centers, and local developers are expecting a rush of new projects over the next two years. ...

  • Swiss hotel group plans five-star Yalta facility

    Despite a history of business deals gone awry in Ukraine, the prestigious Geneva-based Kempinski Hotels & Resorts Group plans to enter the luxury hotel market here one more time. ...

  • Moving in. How to buy your own place in Kyiv

    Given Ukraine's, shall we say, murky legal system, buying an apartment in Kyiv might seem intimidating to foreigners, especially if they don't speak the language. Frankly, the process does seem rather complex and time-consuming - but no more so than in any other country in the world. ...

  • How to earn using an education system?

    During soviet times about a quarter of all foreign students coming to study in USSR to Ukraine's lot. ...

  • Price for tomorrow

    It is known that the main difference of market economy from planned economy existing in socialist countries is regulation of prices. ...

  • A EU door is open

    The President of the European Commission Jose Manuel Barroso has told Ukraine its future is "in Europe". However, he urged the country not to talk much about EUmembership for now, but instead to take concrete steps that showed commitment to European values. Ukraine`s new Prime Minister Yuri Yekhanurov was in Brussels to discuss his plans for economic reform. Officials say that if the reforms continue, the EU may recognize Ukraine as a market economy by 1 December. That is the date set for a EU-Ukraine summit in Kyiv. Recognition as a market economy is a precondition fir joining the World Trade Organization (WTO), which Ukraine aims to do by the end of the year. ...

  • The invaluable square meter

    Every apartment's owner in Kiev is getting richer by a few thousands dollars per month because it is the rate of real estate prices that is growing. ...

  • FUIB promises "good news"

    The First Ukrainian International Bank is in for changes. The first sign of them was at the bank's shareholder meeting on April 15, introducing managers from McKinsey in the world, to the banks supervisory board ...

  • Currency market bracing for a shockwave

    Ukraine appears to be the path towards a hard currency crisis and panic situation among its population. The central bank of the country, which decide to set interbank market "free", is facilitating this process ...

  • Big city, little office space

    Business in Kyiv is booming and the business community is growing. But if all these investors pour into Ukraine, as everyone hopes, where are they all going to work? ...

  • Dacha rental costs rising fast

    Former Soviet citizens were lucky in at least one respect: they inherited their dachas when the Soviet Union collapsed. For the less fortunate, renting dachas or joining friends remain the only options. ...

  • Podil could offer some of best real estate deals in city

    Sure, sure - the real estate market is booming in Kyiv. Prices are rising, people are moving in, and more than a million square meters of new residential living space are going up every year. But why do people in Kyiv choose to live where they live? ...

  • EU-Ukraine talks planned

    BRUSELS (AP) - The European Union will push for more cooperation from Ukraine to try to solve the Trans-Dniester conflict in Moldova, officials said on March 29. ...

  • Investors meet in London

    Post-revolutionary Ukraine is in the investment spotlight, and the country is being dubbed one of the most attractive emerging markets in the world - though new investors are still few and far between. ...

  • Tourism industry needs simpler visa regime, affordable hotels

    In most countries, more people visit than leave on vacation. Before last year, however, this was not true for Ukraine. ...

  • Ukraine needs to pitch itself abroad

    Ukraine needs to pitch itself abroad Eurovision 2005 has provided some impetus for change. And during his resent trip to Germany, President Viktor Yushenko emphasized the need to ease visa requirements for EU countries indefinitely. Prykhodko believes that changes will prove effective. ?This year the presidential order to lift visa restriction for EU countries during [Eurovision] and the initiative to simplify the current process - like being able to purchase visas at the border - may increas ...

  • The macrocosm of micro-lending expanding in Ukraine

    The macrocosm of micro-lending expanding in Ukraine The impending re-privatization of a number of Ukranian enterprises is pushing commercial banks to develop microfinancing schemes as this is the least risky type of a loan. In addition, Ukraine?s bankers are taking advantage of the moment and learning from foreigners, who are now demonstrating their eagerness to help Ukranian business. The stream of investments that in the past slowly flowed into Ukraine has very good chances of turning into ...

  • Ukraine a hot debt, investment market

    Ukraine is one of the most attractive emerging markets for investors trading in outstanding external debt, according to a forecast released by the London offices of Commerzbank in March. ...

  • "All 25 European Union member countries should become our allies"

    Foreign Affairs Minister of Ukraine Borys Tarasyuk answers questions for KW ...

  • Ukrainian export to the European Union is not much different that supplies from third-world countries

    Trading with an expended Europe has become more difficult for Ukraine. Indeed, last year a Ukrainian sale to EU countries stands to improve this situation ...

  • Government raises new hopes for strategic pipelinestrange circumstances

    If Ukraine's new administration has its way, the oil flowing through the long-contested Odessa-Brody Oil Pipeline will be from the Caspian region - and not from Russia. ...

  • Tax confuses, but boom continues

    A newly introduced profit tax on new apartment purchases, coupled with the political uncertainty of last December, encouraged many Ukrainians to buy real estate ahead of the New Year, but the continuing confusion over the tax has created short-term instability in the market and is even forcing the government to rethink the levy. ...

  • Ukraine, Georgia agree to reverse flow of oil in disputed pipeline

    (AP) - The flow of oil in a key Ukrainian pipeline will be reversed to carry oil shipments from Kazakhstan and Azerbaijan to Western Europe, instead of pumping crude from Russia to the Black Sea port of Odessa, the Ukrainian and Georgian prime ministers said Feb. 28. ...

  • IMF Requests Greater Flexibility

    The International Monetary Fund appealed to the NBU requesting that it conduct a more flexible hryvnia exchange rate policy by allowing for a wider range in hryvnia/dollar rate fluctuations. ...

  • All corrupt officials, get out!

    All corrupt officials, get out! Employees of the National Bank of Ukraine await their fate following the cleansing of the country`s central bank. Overstaffed subdivisions are being eradicated and many of their employees are politely being shown to the door. Bank employees understand the actions of their new boss Volodymyr Stelmakh, who has launched a major anti-corruption campaign. The actions of the central bank of Ukraine correspond to the general mood of the new government. At the moment, ...

  • Kyiv is not saying 'tomorrow' and Brussels is not saying 'never'

    Kyiv is not saying tomorrow, and Brussels is not saying never In the course of Viktor Yushchenko`s second European tour, Ukraine and the European Union have defined the steps to meet each half way over next three years. On February 21, the European Union and Ukraine signed the Ukraine-EU Plan of Action for 2005-2007 in Brussels. According to the document, the EU will provide assistance to Ukraine on issues of accession to the World Trade Organization and in obtaining the status of a countr ...

  • 30-year mortgages are a 'mission possible'

    Purchasing an apartment through home mortgages will become more affordable. After all, although the concept of a home mortgage for a term of 30 years is something quite new to Ukraine, it is not a mission impossible. In fact it is quite possible in light of the stiff competition on the local mortgage market ...

  • Apparently transparent...re-privatization?

    Apparently transparent...re-privatization? The intentions of the new government to open all doors to foreign capital have sparked considerable interest amongst foreign investors in Ukraine. In recent months, they have been actively acquiring shares of national companies that are up for sale. The shortage of supply of such shares is becoming more and more evident these days. Since the beginning of the year, the stock market has been seeing unprecedented activity. Now practically every trading ...

  • City zoning laws for all ... but how soon?

    City zoning laws for all ... but how soon? The principle of urban zoning, which has been long applied in different countries throughout the world, has formed the basis of new rules on the urban development of the Ukranian capital Despite the fact  that adopted document foresees a number of innovations and restrictions for Kyiv developers, it will have no impact on the construction market in the nation's capital in the nearest two years, since these rules will come into effect only at t ...

  • Expanding the kingdom of Ukrainian commerce

    Expanding the kingdom of Ukranian commerce London, Beijing, Prague and Amsterdam - just a few names on the list of cities where representative offices of Ukrainian banks could appear. That's the way it's looking these days Ukranian banks are planning to organize a pilgrimage into foreign markets. There, they are planning to lay the foundations of their work in affiliate banks, subsidiaries and representative offices. Ukranian banks are mostly looking towards Russia. An affiliate of Dniprope ...

  • Government promises action after another well-connected Ukrainian dies under strange circumstances

    Government promises action after another well-connected Ukrainian dies under strange circumstances   After another well-connected Ukrainian died under suspicious circumstances, President Viktor Yushchenko's chief of staff Oleksandr Zinchenko said Feb. 14 that investigations into a handful of resonant unsolved deaths would speed up. Yushchenko has directed prosecutors to conclude investigations into the mysterious deaths of former Transportation Minister Heorhy Kirpa, banker Yuriy Lyakh a ...

  • Is Ukraine ready to join the EU?

    Is Ukraine ready to join the EU? Now that the Orange Revolution`s political instability has largely ended, President Yushchenko looks set to charge headlong into Europe, gaining membership to as many institutions as possible on the way. Is this such a sensible idea? As his appearance at the World Economic Forum in Davos confirmed, President Yushchenko has now formed coherent plans for Ukrainian entry into the European Union, and has made the implement of them a key aim of his presidency. He ...

  • Ukraine: still Europe's enigmatic partner

    Having a comparatively slow pace of economic reforms, Ukraine is displaying one of the highest rates of GDP growth in Europe. ...

  • Mending the lending process

    Consumer lending in Ukraine will be renewed after the period of political instability. According to banking experts, it will take at least two months to get this process bank on a normal track ...

  • Ukraine's image road show

    Ukraine's "image road show" attracted billions of potential investment dollars The first European tour of Viktor Yushenko as the newly elected president of Ukraine did not bring any concrete or immediate benefits to the country's economy or its citizens. To put it as one of Yushenko's favorite expressions, so far, there is no butter to spread on the bread. But the significance of the decisions he has made or promised in the immediate future is a clear sign that there will be benefits to come. ...

  • 'Hidden tax' of mandatory investments ratings?

    "Hidden tax" of mandatory investments ratings After the introduction of a mandatory rating by the issuer of shares in January, new applications for conducting emissions are not being submitted to the State Securities and Exchange Commission. This is the way in which companies are protesting an additional stealth tax on the procedure of attracting investments The SSEC has come up with a totally unorthodox way of bringing companies in need of investments together with potential investors. From ...

  • Real Estate in Ukraine. Land issues. American Business Center

    Real Estate in Ukraine. Land issues Odessa-ABC.com - 1. General overview On October 25, 2001 the Parliament of Ukraine adopted a new land Code which came into effect on January 1, 2002. In keeping with the new Land Code land is finally deemed as an object of private ownership rights. So, landowners have the right to sell, exchange, donate or pledge their plots. Finally investors can feel more secure. First, now they can deal with actual owners of land. Second, land, unlike movable proper ...

  • Russian money seeks partner in Ukraine

    Investors from Russia are linking their plans with Ukraine more and more, wishing to invest in different sectors. When choosing a partner, they will look at the purity of the business and the efficiency level of its corporate management ...

  • World Bank assesses Ukraine under new government

    Representatives of the World Bank gave a press conference last Thursday in Kiev to discuss their plans for cooperation with the new Ukrainian government. Although optimistic about president Yushchenko's ambitions, the World Bank is aware of the financial difficulties facing Ukraine in the near future. ...

  • Investors tempted by a "slice of orange"

    The meeting between Viktor Yushchenko and foreign investors demonstrated that his appeals for investment into Ukraine's economy are sure to receive a positive response on the part of foreign investors if the planned "re-privatizations" of large domestic enterprises are transparent and free of underlying political implications. ...

  • Nationalization for re-privatization...

    In the event the funds allocated by the national budget turn out to be insufficient to implement all proposed social reforms, the sate will replenish its reserves with proceeds from re-privatizating companies that it deemed to have been illegally sold for unreasonably low prices. The new government is not in a hurry to disclose the details of its re-privatization strategies and its statements have been vague and contradictory. ...

  • To invest or not to invest?

    To invest, or not to invest? The Ministry of the Economy has initiated the adopting of a new law that will limit the influence of domestic authorities on the activity of foreign companies. Nevertheless, analysts believe that such innovations in the law will not substantially change investor`s attitude toward Ukraine. According to the data of study recently conducted by experts of Ukraine`s Ministry of Economy, there are three main factors that have a negative impact on the process of inves ...

  • Ukraine's Klondike: Booming Real Estate.

    Ukraine's Klondike Booming Real Estate Although one of the youngest sectors of the Ukrainian economy, Ukraine's real estate market is also one of its most dynamic. At the same time, the majority of potential foreign investors don't realize that their returns on investments in this segment could reach an unprecedented 35% annually! Fortunately, the sad legacy of the Soviet era when private businesses and landowners did not exist has become a thing of the past. With the advent of the contemp ...

  • For whom the road tolls ... in Odesa

    For whom the road tolls...in Odessa Odessa city authorities have adopted a decision to build a new freeway connecting the city`s port with a ring road. Construction will be conducted on concessionary terms. The City State Administration has already signed the corresponding agreement with a domestic road construction company. As the press service of the administration informed KW, "The new high way will help relieve traffic on the current roads by redirecting the traffic of heavy vehicles to ...

  • Is Europe's optimism Ukraine's ray of hope?

    Is Europe`s optimism Ukraine`s ray of hope? Polish Foreign Minister and Chairman of the Council of Europe`s Committee of Ministers Wlodzimierz Cimoszewicz summed up the results of his visit to Kyiv by telling the press, "I don`t rule out that the elections in Ukraine will be conducted with some major violations. Nevertheless, the scenario of the presidential contenders coming to office by force also seems quite improbable to me." Although Ukrainian President Leonid Kuchma together with Premi ...

  • Making Sense of Real Estate Transactions: Ukraine real estate laws, Ukrainian realty advice, real estate purchasement, how to buy Ukraine real estate. American Business Center.

    Making Sense of Real Estate Transactions Ukraine's real estate sector has experienced rapid growth in recent years, and with this growth has come a variety of fraudulent real estate transactions. Recent changes in the law have been aimed at curbing these abuses. Timur Bondarev, attorney-at-law and a partner in Arzinger and Partners international law firm, gives practical advice to anyone considering purchasing real estate in Ukraine In recent years, Ukraine has experienced substantial inv ...

  • A Tax Rate for the Rich

    The Finance Ministry of Ukraine has made public a bill "On the Property Tax". The drafters of the bill maintain that the new tax will be collected mainly from wealthy Ukrainians. ...

  • Banks expressing lower interest in money?

    Though Ukraine's commercial banks have been "flooded" by personal savings deposits, the country's financial institutions are unable to use all the money for their own purposes. ...

  • Interest on hard currency loans expected to drop

    Bankers are suspending the issuance of loans in hard currency. Banking experts predict that interest rates on borrowing in hard currency will rise in the future. ...

  • INVESTMENTS NBU takes a shot foreign investors

    The NBU informed foreign investors about new requirements for money investments into the Ukrainian economy. Meanwhile, foreigners are somewhat shocked and Ukrainian financial experts cannot seem to be able to find an answer to why the NBU did this. ...

  • Profile: Italy

    In this issue, Panorama continues its series looking at major European Union countries and their economic and cultural links to Ukraine with Italy, Europe's cultural cradle and economic "trendsetter" ...

  • Bankers unconcerned about the Elections

    Bankers unconcerned about the Elections Ukrainian bankers, for the most part, are not concerned about the presidential campaign's outcome - statements to this effect were made by 57% of the executives of 30 leading Ukrainian banks who responded in a poll carried out by a team of experts with the PRI Group (previously known as Prime Time), who specialize in communications technologies. 43% of the responders proved more cautious, stating that the future of the Ukrainian banking sector woul ...

  • Boryspil Airport is being tidied up

    Boryspil Airport is being tidied up The Japanese government resolved that JPIC give Ukraine a loan for 19.092 billion yen (about $172 million) to revamp Boryspil Airport to build a new terminal to increase the passenger capacity. It is a 30-year-term loan with a 10 year grace period at 1.5% annual interest rate. If this project is effectively implemented, the Japanese government will issue further loans to help Ukraine finance several other projects, particularly construction of a bridge s ...

  • Ukraine State Registration Of Proprietary Rights On Real Estate And Its Restraints. American Business Center

    State Registration Of Proprietary Rights On Real Estate And Its Restraints On August 3rd 2004, the Law "ON STATE REGISTRATION OF PROPRIETARY RIGHTS ON REAL ESTATE AND ITS RESTRAINTS" (hereinafter - the Law) came into force.  The Law established the State register to proprietary rights on real estate and its restraints (hereinafter - the Register). The Register shall contain the information on the proprietary rights on real estate, its restraints, on the subjects of proprietary ri ...

  • Practical Politics

    Comments being made by international financial institutions about Ukraine have never been so positive since independence. ...

  • EU Enlargement: Good News for Ukraine

    EU Enlargement: Good News for Ukraine   The enlargement of the European Union on May 1, 2004, with ten new members, most of them in Central Europe, will have a profound impact, both on the Union itself and on the Union's relations with its neighbours and the world. Panorama talks to Steffen Skovmand, Acting Head of the Delegation of the European Commission to Ukraine, Moldova and Belarus, about a new framework for EU-Ukraine relations. In his inaugural speech on November 30, 1 ...

  • The Dacha is Back!

    What do you mean the dacha is back? Because people are going back to their dachas come the spring? Yes, they are, just like they do every year to cherish the countryside idyll. But it is also true, that the dacha is back, becoming once again a part of the Ukrainian traditional lifestyle, re-acquiring its original purpose that has become somewhat lost over tha past decade. ...

  • EBRD in Ukraine:

    Panorama looks at Ukraine's economic and cultural links to countries of the European Union. We talk to Kamen Zahariev, Country Director for the European Bank for Reconstruction and Development - an institution with over a decade's experience in linking Western and Eastern Europe - about the Bank's activities in Ukraine and the country's economic prospects ...

  • Prospects of Tourism

    The development of tourism in Ukraine is coordinated by the State Tourist Administration of Ukraine (STA).Yevhen Samartsev, the State Tourist Administration of Ukraine deputy head, has been working in STA for two years now. Before his promotion to STA, he worked in business and in public organizations. His experience and personal qualities have added dynamic features, purposefulness and modern approaches in the work of STA. Mr. Samartsev was instrumental in launching an annual spring tourist exhibition, the biggest of its kind in Ukraine. ...

  • Hotels in Kiev

    Hotels in Kyiv: Lots of Promised Projects Constructing and operating hotels is considered a profitable business all over the world, with dozens of prestigious ones being opened every year by leading international hotel networks. But not in Ukraine. The poor status of this business in Kyiv is evidenced by the fact that over our 12 years of national independence, only one 5-star hotel has opened in the city. The first phase of the Premier Palace in Shevchenko St. Was opened in 2001 (the second ...

  • Odessa: Life like a movie

    Article about Odessa When in 1925 Eisenstein shot his dramatic scene on the Potemkin Steps in Odessa, he never suspected that his famous shot would become a regular item in slapstick comedies. Life like a movie In an exceptional film set in Odessa, the comedy of errors by Juliusz Machulski (1989), things are taken one step further. Thus in the mid 20s, a gangster from Chicago, lands the job of finding the mafia's betrayer who has hidden in Soviet Russia. Totally unprepared for the revol ...

  • The Menage a Quattro Economical Romance

    The Commonwealth of Independent States came to be after the collapse of the Soviet Union. Then fibe countries - Ukraine, Azarbaijan, Georgia, Moldova, and Uzbekistan - formed the GUUAM alliance within the CIS framework. Russia quickly responded by forming a five - party alliance, composed of Belarus, Kazakhstan, Kyrgyzstan, and Tajikizstan, and called it EuroAzEs. In addition, Moscow and Minsk resolved to join into a "united state" with a single national currency, but that was far as they got, everything remaining only on paper. In September 2003, another entity was added, known as the Single Economic Space. Many experts regard it as a stillborn child, as the key players of the former Soviet field - Kyiv and Moscow - are practising different approuches to the goal. The big question is, does anyone need the SES now that Ukraine can make better business alliances, with the EU or NAFTA? ...

  • Ukrainian Tourist Business: Reform Begins

    Ukrainian Tourist Business: Reform Begins The Law of Ukraine-On Changes in the Law of Ukraine on Tourism, to take effect from January 1, 2004, has been the cause of long debates. People in the tourism business claim it is essential to regulate the Ukrainian tourism industry. Now the talking is over and the bill will become law. The times are going when Ukrainians could say that the stupidity of some of their laws was made up for by the fact that they were totally ignored anyway. It is incre ...

  • European Union - Ukraine: Fostering Partnership - EU Ukraine economy European Union Europe economic Ukraine economics EU Kyiv Ukrainian economy Kiev

    European Union - Ukraine: Fostering Partnership This year marks the tenth anniversary of the Delegation of the European Commission to Ukraine, Moldova and Belarus. Its activities include helping Ukraine develop a market economy, facilitating trade, furthering the political dialogue between the EU and Ukraine and promoting the EU to the Ukrainian people In the autumn of 1993, a few rooms at the National Hotel were transformed into the first offices of the Delegation of the European Commiss ...

  • Neither a borrower nor a lender be

    Neither a borrower nor a lender be ... Back to articles Competition is stiffening on the consumer lending market. The banks have to resort to all possible tricks in their agreements with clients. The borrowers turn out to be the only ones suffering from such tricks  Unofficially, banks admit that interest rates remain the only weapon in the endless fight for more clients. The cheaper the proposed loans are, the more possibilities a financial institution has to attract borrowers. Decr ...

  • Tax inspectors will be less busy in Ukraine

    Tax inspectors will be less busy The Verkhovna Rada approved in the first reading amendments to the Law on the Value Added Tax (VAT), stipulating a reduction of the tax from 20% to 17% starting from January 1, 2005 and to 15% starting from January1, 2006. The mechanism of the VAT refund from the budget was seriously revised: the function of refunding were assigned to the National Treasury, while the tax bodies are left with only the right to control and check the authenticity of the refund re ...

  • Which way should Odesa-Brody go?

    Which way should Odesa-Brody go? The dispute over the direction in which the oil is to be pumped via the Ukranian pipeline has been made even more complicated due to the world oil crisis As of late, there has been a trend of increasing 'informational splashes' related to the possibility of launching the Eurasian Oil Transport Corridor (EAOTC). The only problem is that there is no real oil available that could be pumped through the idle pipeline. The declarations of intent, which Ukraine sign ...




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