Construction of the Kvartal City shopping and entertainment center has begun at 313 Shevchenko Street in Lviv. The opening is scheduled for the fourth quarter of 2027, according to the website of the consulting company Retail&Development Advisor (RDA), which is the exclusive broker for the property.
According to RDA project manager Alina Abramtseva, Kvartal City will be a multifunctional space for the daily needs and leisure of the community, a place for shopping with international and national fashion operators, children’s markets, electronics stores, perfumes, cosmetics, etc.
The property is located directly on the M10 international highway, which connects Lviv with Krakivets on the Polish border. The Lviv ring road is also nearby.
The Kvartal City shopping and entertainment center will have three floors with a total area of almost 50,000 square meters and 20,000 square meters of leasable space. The complex will accommodate 75 stores. There will be an entertainment area for children, a cinema, a large food court and restaurants (2,000 square meters), and, of course, a shopping area with international and national fashion retailers, children’s markets, electronics stores, perfumes, cosmetics, etc.,” Abramtseva said.
An underground parking lot with an area of 8,900 square meters and a multi-level parking lot with an area of 14,600 square meters are planned, with a total of 523 parking spaces.
All the necessary documents for the construction of the shopping and entertainment center have been finalized, preparatory work has been carried out on the site, and construction of the complex will begin in September this year.
Metinvest B.V. (Netherlands), the parent company of the Metinvest mining and metallurgical group, increased its revenue from product resale by 30% in 2024 compared to 2023, to $2.869 billion.
According to the group’s annual report, resales accounted for 36% of total revenue, up 6 percentage points (pp) from 2023.
It is specified that Metinvest’s revenue is mainly generated from the sale of metal, iron ore, coal, and coke products of its own production. The group also resells products manufactured by joint ventures and third parties.
In 2024, Metinvest’s consolidated revenue amounted to $8.05 billion, which is 9% more than in 2023. This growth is primarily due to the resumption of shipping in the Black Sea, which eased logistical restrictions on exports. In addition, the volume of steel and iron ore resales increased significantly amid improved operating performance of both joint ventures. At the same time, sales prices declined in line with global benchmarks.
In terms of markets, Metinvest’s revenue in Ukraine fell by 2% last year to $2.587 billion, mainly due to lower sales prices. As a result, Ukraine’s share in consolidated revenue fell by 3 percentage points to 32%.
At the same time, sales to other markets decreased by 15% compared to 2023, to $5.463 billion, accounting for 68% of total revenue.
Revenue in Europe (excluding Ukraine, European CIS countries, and Turkey) decreased by 8% due to weaker prices and lower shipments of iron ore concentrate (down 18%), coal concentrate (down 26%), and billets (down 34%). This was offset by a 10% increase in shipments of pellets and flat products. As a result, the region’s share in total revenue decreased by 7 percentage points to 41%.
Sales in Asia (excluding the Middle East and Central Asia) increased 2.6 times, mainly due to the resumption of iron ore concentrate shipments to China. This led to an increase in the region’s share of consolidated revenue by 9 percentage points to 16%.
Revenue in North America remained virtually unchanged at $443 million. Long products shipments increased by 43%, while pig iron volumes declined by 15%. The region’s share in consolidated revenue remained unchanged at 6%.
Sales to the Middle East and North Africa (MENA) increased 2.2 times, mainly due to a threefold increase in shipments of billets. The region’s share in consolidated revenue increased by 1 percentage point to 3%.
Revenue in the CIS countries increased by 25%, but the region’s share in consolidated revenue remained unchanged at 1%.
Sales in other regions increased by 13%, and their share in consolidated revenue remained unchanged at 1%.
As reported, Metinvest’s consolidated net loss in 2024 increased sixfold compared to 2023, to $1.152 billion from $194 million, revenue increased slightly, to $8.050 billion from $7.397 billion, while EBITDA increased by 11.1% to $957 million from $861 million. Revenue from the metallurgical sector amounted to $4.824 billion (in 2023 – $4.846 billion), and from the mining segment – $3.226 billion ($2.551 billion).
The adjusted EBITDA of the group’s metallurgical division was recorded at $289 million ($159 million), and that of the mining segment at $768 million ($770 million). Metinvest’s operating loss for 2024 amounted to $938 million, compared with an operating profit of $445 million in 2023. In addition, free cash and cash equivalents increased slightly to $657 million from $646 million at the end of 2023.
Metinvest is a vertically integrated group of mining and metallurgical companies. Its enterprises are located in Ukraine, in the Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions, as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding company are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
The Cabinet of Ministers of Ukraine dismissed the head of the Agency for Asset Recovery and Management (ARMA) Elena Duma.
As Prime Minister Yulia Sviridenko reported on Telegram, the decision was made at a government meeting on Wednesday.
“Yesterday, I appealed to President Volodymyr Zelenskyy with an initiative to completely restructure the Agency for Asset Recovery and Management. The president supported the government’s plan. Today, at a meeting of the Cabinet of Ministers, the head of the agency was dismissed. I gave instructions to urgently launch a new competition. The competition commission will include representatives of the government and international partners who support Ukraine in the fight against corruption,” she wrote on Telegram.
Svyrydenko stressed that the main task is to ensure that all seized assets, assets of sanctioned individuals, and property belonging to the Russian Federation are used to the maximum extent possible for the defense and stability of Ukraine.
Earlier on Wednesday, Duma said he had written a letter of resignation from his post as head of ARMA and asked the government to accept it.
In turn, the head of the parliamentary committee on anti-corruption policy, Anastasia Radina (Servant of the People faction Servant of the People faction) admitted that although Duma was formally dismissed at his own request, his resignation may be related to the entry into force of the law on ARMA reform, which gives the government the right to dismiss the current head for ineffective work.
As reported, on July 27, President Volodymyr Zelensky signed a law on ARMA reform.
Professor Andrey Korol, a scientist at the Filatov Institute of Eye Diseases and Tissue Therapy, has joined the team of experts at the international community of ophthalmologists, Vision Academy.
“This is an important event for the Ukrainian medical community, demonstrating its deep integration into the international scientific community. Professor Korol’s inclusion in the Vision Academy’s team of experts is a high recognition of his professionalism, scientific activity, and leadership in the field of modern ophthalmology,” the institute said.
Professor Korol is a specialist in retinal diseases, head of the department of laser research and application in ophthalmology, and acting deputy director for scientific work at the Filatov Institute of Eye Diseases and Tissue Therapy.
Vision Academy is an international expert community that brings together leading ophthalmologists from around the world. Its goal is to create a platform for the exchange of knowledge, experience, and best practices in ophthalmology, especially in the field of retinal diseases.
Vision Academy facilitates professional communication between experts from different countries, the development of consensus recommendations for the management of complex clinical cases, the creation of educational materials and publications, and support for patient-oriented scientific research and clinical practice.
The community is led by leading ophthalmologists Professor Jean-François Korobelnik (France) and Professor Anat Loewenstein (Israel).
Nova Poshta, the leader in express delivery in Ukraine and part of the Nova Group, has fully placed G series bonds with a total nominal value of UAH 1 billion.
The National Securities and Stock Market Commission (NSSMC) approved the corresponding bond issue report on July 22, 2025.
The nominal value of the bonds is UAH 1,000, and other parameters of this closed issue have not been announced.
As reported, in April 2024, Nova Poshta registered issues of Series E and F bonds worth UAH 1 billion, with maturities on July 29 of this year and May 31, 2026, respectively. The nominal yield on these bonds is set at 17% and 16% per annum, respectively.
In January this year, Nova Poshta already redeemed Series D bonds issued in April 2023 in the amount of UAH 800 million.
In May this year, the NSSMC approved the placement of two new issues of Nova Poshta bonds – series G and H with a nominal value of UAH 1 billion each. The placement will be carried out without a public offering. The company has declared that the funds raised will be used to develop its terminal network (35%), invest in IT (15%), BDF containers and motor vehicles (30%), and packaging for parcels (20%).
According to Nova Poshta’s financial report for the first quarter of 2025, its net consolidated revenue increased by 20.7% compared to the first quarter of last year, to UAH 14.3332 billion, while net profit decreased by 21.4%, to UAH 567.7 million.
The main activity of Nova Poshta remains the express delivery of documents, parcels, and palletized large-size cargo. The company is the leader in express delivery in Ukraine. Its ultimate beneficial owners are Volodymyr Poperechnyuk and Vyacheslav Klimov.
The National Bank of Ukraine has fined SK Persha (Kyiv) UAH 2.557 million for violating consumer protection laws for financial services, as defined by the Civil Code of Ukraine and the laws “On Electronic Commerce,” “On Insurance,” and “On Financial Services and Financial Companies.” According to the NBU website, this decision was made by the Committee for Supervision and Regulation of Non-Bank Financial Services Markets on July 28, 2025, following a scheduled inspection of the company.
In addition, the insurer was fined UAH 320,000 for violating the requirements of the Rules for the preparation and submission of reports by participants in the non-bank financial services market to the NBU.
SK Persha received a written warning about the violation of the requirements of: the Law “On Compulsory Insurance of Civil Liability of Owners of Land Vehicles,” the NBU Resolution “On the Regulation of the Activities of Participants in the Non-Bank Financial Services Market, Non-Bank Financial Groups, Participants in the Payment Market, Collection Companies, and Legal Entities Licensed to Provide Cash Collection Services to Banks” (as amended), as well as the provisions on insurance secrecy and the specifics of concluding insurance contracts with consumers.
It is noted that IC Persha is obliged to pay the fines within one month from the date of entry into force of the decision and to eliminate the violations set out in the written warning by November 28, 2025.
Persha Insurance Company has been operating in the Ukrainian insurance market since 2001. The company specializes in motor insurance. The company is a member of the MTIBU, the League of Insurance Organizations of Ukraine, and the National Insurer of International Road Transport Documents (TIR).
