Lebanon is preparing to launch a “golden residence permit” program for foreign investors with a minimum investment threshold of $500,000. The initiative is intended to help the country attract capital, create jobs, and support economic recovery following a long-standing financial crisis.
The bill was approved by Lebanon’s parliamentary committee on finance and budget. The bill must now undergo further review and receive parliamentary approval.
Under the initiative, foreign investors will be able to obtain a residence permit in Lebanon provided they invest at least $500,000 in approved economic sectors. This is specifically a residency program, not a direct sale of citizenship or passports.
Lebanon is attempting to join the global competition for wealthy investors, a field in which countries in the Middle East, Europe, and the Caribbean are already actively engaged. Such programs typically offer foreigners the right to reside in exchange for investments in real estate, businesses, funds, government securities, or strategic sectors.
For Lebanon, launching such a program is of particular importance. Since 2019, the country has been experiencing one of the most severe financial and economic crises in its history: the banking system has restricted depositors’ access to their funds, the national currency has sharply depreciated, and public finances remain under pressure.
Under these circumstances, the “golden visa” is viewed as a tool for attracting foreign capital without immediately increasing the debt burden. The potential impact could manifest in investments in real estate, tourism, services, infrastructure, private healthcare, education, and technology projects.
However, this model also carries risks. For Lebanon’s program to be effective, it requires transparent rules for selecting investors, verification of the origin of funds, a clear list of permitted sectors, safeguards against speculative investments, and oversight to ensure that investments actually contribute to the economy rather than merely granting a formal right of residence.
International experience shows that “golden visas” can quickly attract capital, but under conditions of weak regulation, they become a source of reputational, tax, and financial risks. Therefore, for Lebanon, the key issue will not be the launch of the program itself, but the quality of its administration.
If the program is implemented transparently, it could become one of the additional channels for restoring confidence in the Lebanese economy. However, it will not be able to replace comprehensive structural reforms, stabilization of the banking system, and political predictability.
The European Bank for Reconstruction and Development (EBRD) plans to sign an agreement at URC 2026 to provide a long-term loan of up to 50 million euros to Volyn West Wind-2 LLC and Volyn West Wind-3 LLC (Volyn Oblast) for the development and construction of a 189 MW wind farm in Ukraine.
“The total amount of debt financing is 191.3 million euros, provided by a consortium of five international development finance institutions: IFC, EBRD (up to 50 million euros), BSTDB, BI Ukraine Limited, and Swedfund International AB,” according to the project description in the EBRD’s indicative action plan for URC 2026 on Thursday.
It is noted that the project will receive a guarantee and funds for technical assistance under the European Union’s Ukraine Investment Framework Hi-Bar program.
The loan itself will be used to finance the purchase of wind turbines, construction of the power plant’s infrastructure, civil and electrical engineering works, as well as related infrastructure.
It is noted that the borrowers are controlled by VI.AN Holding, which is part of OKKO Group AG.
As previously reported, a few days earlier, the EBRD decided to provide a long-term loan of up to 50 million euros to Volyn West Wind-2 LLC and Volyn West Wind-3 LLC for a 189 MW wind farm, while the IFC decided to provide a 42 million euro loan to these companies.
OKKO Group unites more than 10 diverse businesses in the fields of manufacturing, trade, construction, insurance, services, and other sectors. The group’s flagship company is the “Galnaftogaz” concern, which operates one of Ukraine’s largest gas station chains under the “OKKO” brand, comprising approximately 400 gas stations.
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
CreditKasa (Ukr Credit Finance LLC), one of Ukraine’s leading non-bank financial companies, together with the placement organizer—the investment firm “UNIVER Capital”—announces the launch of the initial public offering of its debut Series A corporate bonds. The total issue amount is 100 million hryvnias. This top fintech company’s entry into the public capital market offers retail investors a reliable and highly liquid alternative to traditional savings instruments.
CreditKasa has been operating in the market since 2017 and, according to NBU data on key performance indicators for financial companies for 2024–2025, ranks first in terms of revenue among non-bank financial companies in Ukraine. Over 2 million citizens have already used the service.
The robustness of the business model is confirmed by record financial results: the company’s net revenue for 2025 amounted to 3.84 billion UAH, and profit reached 350.3 million UAH. As of June 19, 2026, CreditKasa’s loan portfolio stands at over 12 billion UAH. The main driver of growth is the full automation of 24/7 processes thanks to artificial intelligence and modern scoring systems, which ensure strict risk control.
The investments raised will allow CreditKasa to accelerate the implementation of the company’s technological development strategy. “The funds will be used to scale the loan portfolio, launch new financial products, and develop proprietary AI-based solutions that ensure fast customer service and effective risk management,” said Yevgen Rezuev, CEO of CreditKasa.
Bond purchases will be conducted using the modern European “delivery versus payment” (DvP) model, which guarantees 100% security of settlements. Thanks to the full digitization of processes, retail investors can submit an application to purchase the bonds in just a few clicks via the UNIVER mobile app or the Investor’s Dashboard. Pre-orders for the auction are now being accepted.
Once the initial offering is complete and the report has been expedited through the National Securities and Stock Market Commission (NSSMC), CreditKasa bonds will promptly enter the secondary market. “UNIVER Capital” will traditionally act as the issue’s market maker, providing two-way quotes (buy/sell) directly within the UNIVER app, which will ensure investors instant liquidity in real time.
About the Issuer: Ukr Credit Finance LLC
Ukr Credit Finance LLC (CreditKasa TM) is one of the undisputed leaders in the Ukrainian online lending market, operating since 2017. According to the National Bank of Ukraine (NBU), the company ranks first in terms of revenue among non-bank financial institutions in Ukraine, serving over 2 million customers through fully automated fintech solutions.
About the placement arranger: UNIVER Capital LLC
The Ukrainian investment group “UNIVER” is a leading group of companies that, since 2005, has been providing brokerage, dealer, and depositary services, conducting underwriting, and managing the assets of institutional investors. The company specializes in raising capital for Ukrainian businesses and has previously successfully organized bond issuances for such market leaders as “Nova Poshta,” “NovaPay,” “Novus,” “Activitis,” “ShvidkoGroshi,” and “VikingPark.”
UNIVER offers a wide range of investment opportunities for both individuals and legal entities. Its proprietary UNIVER mobile app provides clients with reliable and convenient access to financial instruments.
*Bond issuer: Ukr Credit Finance LLC.
The Novus supermarket chain has received permission from the Antimonopoly Committee of Ukraine (AMCU) to lease assets from the Eurotek Group, which recently announced the closure of its supermarket chains, and plans to open its first stores in Lviv and Ivano-Frankivsk in their place, the grocery retailer’s press service told the “Interfax-Ukraine” news agency.
It is specified that at a meeting on Thursday, the AMCU granted Novus Ukraine LLC permission to lease three assets from JSC “ZNVKIF Eurotek Invest,” which has closed its grocery chains.
For Novus, this marks its first entry into the Lviv and Ivano-Frankivsk markets, as well as a new stage in the chain’s expansion across Ukraine’s western regions. In Lviv, Novus plans to open stores in August (147 Zelena St. and 60 Chervonoyi Kaliny Ave.), and in Ivano-Frankivsk in September (2 Mykolaychuk St.).
“The western region, particularly Lviv and Ivano-Frankivsk, is a strategically important area for us. Today, Lviv is one of the country’s key consumer hubs and most competitive markets, while Ivano-Frankivsk is experiencing rapid growth and high demand for quality retail. We want residents of both cities to get to know Novus not just as a new supermarket, but as a place for a comfortable shopping experience that combines European-style service, a wide product range, and a modern customer experience,” the company notes.
To maximize convenience and speed of service, the checkout areas in the new stores have been optimized to match the scale of the facilities. For example, the supermarket at 147 Zelena St. (total area: over 3,000 sq. m; retail area: 1,761 sq. m) will feature six linear checkout lanes, eight self-checkout stations (SCS), and one information desk with two workstations. At the store at 60 Chervonoyi Kaliny Ave. (total area: 2,376 square meters; sales area: 1,500 square meters), five regular checkout lanes, eight self-checkout stations, and one information counter—which also combines two checkout stations—will ensure quick checkout.
In Ivano-Frankivsk, at 2 Mykolaychuk St. (total area: 3,106 sq. m, retail area – 1,971 sq. m), service speed will be ensured by eight linear checkout lanes, one information counter (with two workstations), and eight self-service checkout stations, which have been divided by payment type for convenience: two for cash payments and six for non-cash payments.
As previously reported, the Eurotek Group of Companies closed its grocery chains “Fresh,” “Arsen,” “Soyuz,” and “Kvartal.” Specifically, the “Arsen” chain operated in Lviv, Ivano-Frankivsk, and Rivne regions, with a total of eight supermarkets. In May, the Antimonopoly Committee of Ukraine (AMCU) authorized Silpo-Food LLC—which operates the Silpo chain and is part of the Fozzy Group—to acquire five of these stores; opening dates have not yet been announced.
Novus is a supermarket chain with 100% Lithuanian capital that has been operating since 2008 and is developed by BT Invest (Lithuania). As of the end of June 2026, the company has 173 locations and is represented in Kyiv, the Kyiv region, and a number of other regions of Ukraine. The founder and beneficial owner of the group is Lithuanian entrepreneur Raimondas Tumenas. The company operates a supermarket chain as well as “neighborhood” stores under the Mi Market brand.
As of the end of 2025, the chain ranks among Ukraine’s largest food retailers. Its annual revenue totaled 34.69 billion UAH, an increase of 19.55% compared to 2024.
At Kyiv University of Law of the National Academy of Sciences of Ukraine, a discussion has arisen ahead of the rector election regarding a possible change to the university’s management model and the creation of a new position of university president, according to the Anti-Corruption Business Front (ACBF).
According to the public organization “Anti-Corruption Business Front” and Ukrainian media, the election for rector of the Kyiv University of Law of the NAS of Ukraine is scheduled to take place on July 2, 2026. The current rector, Yuriy Boshitsky, has led the university for more than two decades, and after completing his second term, his powers were extended by a decision of the Presidium of the National Academy of Sciences of Ukraine for the duration of martial law.
The authors of the article note that, on the eve of the election, the position of university president appeared in the draft of the new charter of the State University of the National Academy of Sciences of Ukraine. It is precisely this, in their opinion, that raises the question: Is an additional center of influence being formed at the university alongside the future rector?
According to the publication, the draft charter stipulates that the university president may participate in shaping the institution’s development strategy, coordinate the activities of separate structural units, participate in property management matters, represent the university in the sphere of international cooperation, and serve ex officio on the academic council.
The media, citing the APF, note that the position of university president is not prohibited in and of itself and may serve a representative or advisory role at various institutions. However, risks arise if such a position is granted actual managerial authority and can influence the institution’s strategy, assets, international relations, and internal policies.
The reports also state that the revised charter was approved at general staff meetings concurrently with the nomination of Sergey Matveev, vice rector for academic affairs, for the position of rector. The authors of the publication emphasize that the candidate’s participation in the election is not in itself a violation; however, combined with the creation of the position of university president, this raises questions about the competitiveness of the election and the genuine renewal of the university’s leadership.
A separate section of the publication is devoted to the Rivne Institute of the State University under the National Academy of Sciences of Ukraine. The article discusses the need to investigate the use of the premises of this separate unit of the state university, including the grounds for the possible use of certain areas for purposes other than the educational process. The APF emphasizes that these facts require investigation and does not claim that they have been proven.
The civil society activists’ publications also mention criminal proceedings registered in 2024 on grounds of abuse of power or official position. According to APF, there is no information in open sources regarding anyone being notified of suspicion or the conclusion of the investigation.
The authors of the article believe that the situation at the Kyiv University of Law of the National Academy of Sciences of Ukraine is significant not only for this single educational institution, as it touches on the broader issues of leadership turnover at state universities, transparency in asset management, the role of the founding body, and the limits of university autonomy.
For the higher education system, this story could serve as a test case: can a state university’s charter establish an administrative position that effectively influences key decisions but is not subject to the rector’s election procedure and does not fall under the same term limits for holding a leadership position?
The Kyiv University of Law of the National Academy of Sciences of Ukraine was established in 1995 on the basis of the V.M. Koretsky Institute of State and Law of the National Academy of Sciences of Ukraine. The university is a state institution of higher education subordinate to the National Academy of Sciences of Ukraine and specializes in training professionals in the fields of law and international law.
Source:
https://apf.org.ua/yak-u-kyivskomu-universyteti-prava-mozhe-narodytysia-novyi-tsentr-vlady/
https://lenta.ua/yak-u-kiyivskomu-universiteti-prava-mozhe-naroditisya-noviy-tsentr-vladi-194784/
ADMINISTRATION, Boshitsky, CHARTER, ELECTIONS, NAS, rector, State University of the National Academy of Sciences of Ukraine, UNIVERSITY
The overall level of illicit tobacco trade in Ukraine rose to 19.8% in April 2026 from 17.6% at the beginning of the year, according to the results of the second wave of the project “Monitoring Illicit Tobacco Trade in Ukraine,” conducted by Kantar Ukraine on behalf of leading manufacturers in the industry.
According to data published on its website, nearly one in five packs of cigarettes on the Ukrainian market is illegal. Analysts estimate that, given this level of the black market, annual losses to the state budget due to unpaid taxes amount to 33.3 billion UAH.
“The main factor driving this growth was an increase in the volume of counterfeit products, particularly cigarettes with forged excise stamps. At the same time, the volume of products labeled ‘Duty Free’ or intended for export but illegally sold in Ukraine has remained stable since the beginning of the year, although it exceeds the figures for 2025,” the study notes.
According to the study’s findings, 38% of the total volume of counterfeit products consists of cigarettes from local manufacturers with counterfeit excise stamps. The main producer of such products, based on the labeling on the packaging, remains Marshall Finest Tobacco (United Tobacco)/VK Tobacco FZE.
In the segment of products labeled “Duty Free” or intended for export but illegally sold in Ukraine, 55% of cigarettes are produced by the Vynnykivska Tobacco Factory, and another 44% by Marshall Finest Tobacco.
Geographically, 68% of the total volume of illegal tobacco products is concentrated in seven regions of Ukraine: Dnipropetrovsk (18%), Odesa (11%), Kharkiv (10%), Kirovohrad (8%), Lviv (8%), Khmelnytskyi (7%) regions, and Kyiv and the Kyiv region (6%).
“The tobacco shadow has grown again(((. For the attention of the updated BEB,” commented Danylo Getmantsev, head of the Committee on Finance, Tax, and Customs Policy, on these results.
According to the study, despite a certain decline in sales of illegal cigarettes through kiosks, it is precisely kiosks and stores that remain the main distribution channels through which about two-thirds of illegal tobacco products are sold.
Kantar Ukraine conducts the “Monitoring of Illegal Trade in Tobacco Products in Ukraine” project on an ongoing basis. The study is based on the collection and analysis of empty cigarette packs, as well as interviews with smokers, to determine the channels of supply and the origin of illegal goods on the domestic market.
