Due to the full-scale war, the mining and metallurgical group Metinvest reduced its annual revenue from $10-12 billion to $5-6 billion, while remaining a profitable company, its CEO Yuriy Ryzhenkov said in an interview with the British newspaper The Times.
The war has significantly affected the financial performance of Metinvest, which sells a significant portion of its metal products in Ukraine and exports iron ore, flat-rolled products, and semi-finished products to 51 countries, including China, India, and the US.
According to Ryzhenkov, “before the war, the business usually had an annual income of $10-12 billion, and now this figure is around $5-6 billion. Despite this, the company remains profitable, and the CEO considers the impact of Trump’s tariffs to be insignificant.”
At the same time, it is noted that Metinvest’s largest enterprises were bombed and put out of operation, including the Mariupol metallurgical plants, which were one of the first battlefields. Metinvest’s revenue has halved, and its workforce has shrunk to around 50,000. Tens of thousands of people have lost their jobs at the group’s enterprises; 8,000 are now serving in the Armed Forces, and 764 employees have been killed.
Despite these losses, top management has managed to keep those who remained in the company motivated. Metinvest is one of the largest private donors to the Ukrainian army, and its steel is used for shelters and military equipment.
“Employees feel that they are part of the resistance. And they are proud of it,” said the CEO.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine—in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions—as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
Population forecast for Ukraine in 2030-2100
Source: Open4Business.com.ua
Ukrainian online pet retailer Pethouse will open its first physical store in Kyiv on October 4, the company’s press service reported.
It is noted that investments in the opening of the store exceeded UAH 10 million.
The store, located at 44a Anna Akhmatova Street, has an area of 72 square meters. The assortment includes about 3,000 products. The retail facility is equipped with an autonomous power supply system in case of blackouts, the company said.
By the end of 2025, Pethouse plans to open several more stores in the capital, and in 2026, it is considering further scaling of the chain in Kyiv and other cities.
Pethouse has been operating in the pet products market since 2010 and was previously represented only by an online store. The range includes more than 13,000 products for pets from 338 brands. The company is also a co-organizer and general sponsor of the first AdoptMe Days pet adoption festival.
According to Opendatabot, the owners of Ukrzogroup LLC, which operates the Pethouse online store, are Vladimir Kryzhanovsky (78.9%) and Vladimir Tarnopolsky (21.1%). At the end of 2024, the company increased its revenue by 55% compared to 2023, to UAH 1.1 billion, and doubled its net profit to UAH 41.1 million.
According to Serbian Economist, the largest resort hotel project in the region, Carine Resort in Baosici, is being built in Montenegro and will welcome its first guests in June 2026.
The new 5-star resort will include about 800 rooms on the coastline in Baosici, municipality of Herceg Novi.
The infrastructure will include restaurants, a wine boutique, a beer garden, an à la carte café, indoor and outdoor swimming pools, a ~1,000 m² spa center, an event hall for 500 people, an entertainment area, and an indoor park.
The opening is scheduled for summer 2026.
The project is positioned as the largest in Montenegro and the region, making it a significant bet on strengthening the country’s tourism potential.
In 2024, the country welcomed 2,606,854 tourists, who made 15,594,299 overnight stays. At the same time, 96.1% of overnight stays were made by foreign tourists.
The main countries of origin of tourists are Serbia (23.5%), Russia (18.3%), Bosnia and Herzegovina (8.4%), Turkey (4.9%), Germany (4.7%), Ukraine (4.3%), and the United Kingdom (3.8%).
Source: https://t.me/relocationrs/1513
The Ministry of Education and Science of Ukraine has completed the state certification of higher education institutions and scientific institutions in the fields of agricultural, veterinary, and social sciences using a new method of assessing scientific effectiveness, according to Vladimir Khaustov, an expert at the Experts Club information and analytical center and scientific secretary of the Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine, in a blog posted on the Interfax-Ukraine news agency website.
According to him, for the first time, not only institutions as a whole were evaluated, but also individual scientific departments — a step that should “truly support the strongest teams and stimulate real competition in Ukrainian science.”
“Without funding for science, there is no future. We are rich not because we have money, but because we fund science,” Khaustov recalled, quoting Ronald Reagan.
He noted that the new certification methodology “is not perfect, but necessary.” Among the positive changes, the expert mentioned the division by scientific fields and the attempt to introduce quantitative indicators. However, according to him, the consolidation of scientific groups (for example, combining all social sciences — economics, history, sociology — into one category) creates methodological distortions.
“The formula should take into account the specifics of the disciplines, and the weighting coefficients should be differentiated. Now, much of it has been reduced to arithmetic, which does not reflect the real contribution of scientists,” the expert emphasized.
Among the problems, Khaustov highlighted excessive bureaucracy in filling out reports and the lack of data automation:
“All indicators are entered manually, although publications and patents are already in the DNTB and UkrNOIVI databases. We proposed creating an automated system called ”Science of Ukraine,“ which would collect data itself, but so far everything is done manually.”
He also drew attention to the imbalance between the evaluation of domestic and foreign publications, as well as the underestimation of national grants and scientific achievements.
“Three hryvnia of Ukrainian funding is equivalent to one hryvnia of foreign funding. And seven out of eleven indicators relate to publications abroad. This distorts the real picture and devalues national achievements,” he said.
According to the expert, the methodology needs to be refined to take into account the specifics of the industry and the real working conditions of Ukrainian researchers.
“Science is not a formula or a table. It is people, ideas, and the future of the country,” concluded Volodymyr Khaustov.
The full version of the expert’s video is available on the Experts Club channel:
Experts Club is an independent platform for analytical videos and research. The center regularly publishes expert reviews on economics, science, and business, bringing together the opinions of leading analysts, scientists, and business representatives.
The Transcarpathian school is represented in the selection by works by Yosyp Bokshay, Adalbert Erdeli, Fedir Manailo, Andriy Kotska, Adalbert Borecky, and Ferenc Seman, who combine European education with national tradition. Lviv is represented by works by Oleg Mink, Mykhailo Lishchiner, Odessa by works by Yurii Yegorov, Kostiantyn Lomikin, Valentyn Khrushch, Crimea by a still life by Valentina Tsvetkova, and the Kyiv school by works by Fedir Konovaliuk, Volodymyr Singaivskyi, and Serhii Shyshko.
Abram Manevich (1881-1942)
“Fruit Garden,” 1910s
canvas, oil
51 x 53 cm
Expert opinion by Alan Penzler
The generation of the “Sixties” is reflected in the works of Viktor Zaretsky, Alla Gorskaya, Igor Grigoriev, Anatoly Lymarev, Viktor Grigorov, and Vudon Baklitsky – artists who combined academic mastery with the search for new imagery. The block of classical Ukrainian art is occupied by landscapes by Hryhorii Svitlytskyi, Stepan Kolesnikov, Petro Levchenko, Serhii Shyshko, and Pavlo Horobets. A special place is occupied by the works of Abram Manevych, David Burliuk, Vasyl Khmeliuk, Liuboslav Hutsaliuk, Grigory Kruk, and Oleksiy Gryshchenko, whose works integrate Ukrainian culture into the global artistic context, as well as Maria Prymachenko and Ivan Marchuk, who continue to break auction records and represent Ukrainian culture around the world.
Grigory Svitlytsky (1872-1948)
“Ukrainian Night,” 1917
canvas, oil
78 x 115 cm
Signed and dated lower left
The top lots of the current auction are rare works: “Ukrainian Night” (1917) by Hryhorii Svitlytskyi, “Fruit Garden” (1910s) by Abram Manevych, “Blooming Magnolia” (1930s) by Adalbert Erdeli, “In a Cafe” (1964) by Igor Grigoriev, “Flower Dance” (1960s) by Alla Gorskaya, ‘Motherhood’ (1984-1985) by Anatoly Lymarev, “Hutsul Girl with a Rooster” (1967) and “By the Window” (1969) Mykola Glushchenko, “Eyes of Autumn” (1985) Viktor Zaretsky, “Moonlit Night” (1980) Ivan Marchuk, sculpture ‘Football’ (1983) Oleg Kostkevich, “Girl with a Ball” (1998) Yuri Yegorov.
Adalbert Erdeli (1891-1955)
“Blooming Magnolia,” 1930s
canvas, oil
100 x 121 cm
Signed lower right
The 70th anniversary auction “Ukrainian Collectible Art” showcases a wide selection of unique works of Ukrainian art from the 20th century. The exhibition will be open to visitors from October 2 to 9 in the Goldens auction house hall, as well as online at www.gs-art.com. For questions regarding registration and participation in the auction, please call +38 050 462 95 32 or register on the website to be able to place online bids yourself.
Schedule of the exhibition and online auction:
October 2–9, 2025
12:00 p.m. – 7:00 p.m.
Open every day.
Admission to the exhibition is free.
The final bidding will begin with the sequential closing of lots on October 9 (Thursday) at 7:00 p.m. online at www.gs-art.com.
Address: Kyiv, 4 Leonida Pervomaiskoho Street
GOLDENS Auction House
+38 050 462 95 32
contact@gs-art.com
www.gs-art.com
