Business news from Ukraine

Business news from Ukraine

Ancient Roman Baths in Budva to Open to Visitors for First Time

According to Serbian Economist, ancient Roman baths located beneath Church Square next to the Holy Trinity Church in Budva’s Old Town will be opened to visitors for the first time. The archaeological site will be preserved, equipped to receive visitors, and incorporated into the city’s cultural and tourism offerings as part of the international ROMANICA project.

The remains of the baths were discovered after the devastating 1979 earthquake during the restoration of the Old Town. During archaeological excavations in the 1980s, experts led by Professor Mirko Kovačević uncovered bathing pools, the furnace area, and preserved elements of the ancient underfloor heating system.

Despite the research and initial conservation efforts, the site remained closed for decades and was not included in Budva’s tourist itineraries. A stone plaza was later built over the thermal baths, so the ancient part of the city has effectively been hidden from visitors until now.

The project involves further conservation of the authentic remains, creating conditions for tourist access, and implementing digital resources. These resources will be used to show visitors the complex’s original appearance and explain its connection to the Roman maritime and underwater heritage of the Adriatic.

ROMANICA brings together sites of Roman coastal and underwater heritage in Montenegro, Croatia, and Bosnia and Herzegovina. The University of Zadar serves as the lead partner. Other participants in the project include the city of Biograd na Moru, the International Center for Underwater Archaeology in Zadar, the Franciscan Museum of Tomislavgrad, the University of Montenegro, and the municipality of Budva.

The project began on June 15, 2026, and is scheduled to last 24 months. Its total budget is 1.837 million euros.

The project is being implemented as part of the Interreg VI-A IPA cross-border cooperation program “Croatia—Bosnia and Herzegovina—Montenegro” in the area of sustainable and inclusive tourism and culture.

The exact date when the thermal baths will open to visitors has not yet been announced.

Budva is considered one of the oldest urban centers on the eastern coast of the Adriatic. During the Roman period, its port was part of maritime trade routes, and the public thermal baths were used not only for bathing but also as a place of relaxation, meetings, and socializing for residents and travelers.

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Kyiv to Host Investment Congress and “Interior of Year” Competition on July 30

On Thursday, July 30, Kyiv will host the Ukrainian Investment Congress and the 17th All-Ukrainian Annual Architectural Competition “Interior of the Year 2026.”

The event will take place on the third floor of the “Parkovy” Congress and Exhibition Center at 16a Parkova Road.

The Ukrainian Investment Congress is positioned as a professional platform for investors, developers, representatives of the construction industry, architects, designers, and company executives operating in the Ukrainian real estate market to meet.

According to the organizers, the congress program is expected to attract over 6,000 visitors and more than 100 speakers, feature 15 panel discussions, and include over 50 exhibition booths. The main objectives of the event are to identify partners and investors, present new projects and technologies, develop business contacts, and discuss the prospects of the Ukrainian investment and construction market.

At the same time, the Parkovy Exhibition and Convention Center will host the 17th All-Ukrainian Annual Architecture Competition “Interior of the Year 2026,” organized by the DMNTR media group. The competition brings together interior designers, architects, developers, entrepreneurs, and investors and aims to promote completed architectural and interior design solutions.

The competition features projects for residential interiors of various sizes, private homes, offices, commercial spaces, HoReCa establishments, and public and administrative buildings. Separate categories are dedicated to product design, landscape architecture, lighting, and unbuilt projects and visualizations.

The organizers note that the competition aims to showcase solutions that increase the added value of real estate properties, facilitate their sale, and set new quality standards for residential and commercial spaces.

The event program and registration are available on the website: www.ibc-ua.info/program.

Contact numbers:

+380 77 777 25 47

+380 44 461 91 28

Venue: “Parkovy” Exhibition and Convention Center, 16a Parkova Road, Kyiv, third floor.

Interfax-Ukraine is the information partner.

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Foreign Ministry has called on Hasidic Jews to refrain from making pilgrimage to Uman

The Ukrainian Ministry of Foreign Affairs recommends that Hasidic pilgrims refrain from traveling to Uman to celebrate Rosh Hashanah.

“Russia’s full-scale aggression against Ukraine, which has been ongoing for more than four years, along with constant, massive rocket attacks on Ukrainian cities and communities, civilian and transportation infrastructure, and ongoing Russian terror, sabotage, and provocations, pose real threats to people’s lives and safety. Under these circumstances, the Ministry of Foreign Affairs of Ukraine urges Hasidic pilgrims planning to make a pilgrimage to Uman to celebrate Rosh Hashanah to take into account that it is impossible to guarantee full security for foreign citizens on Ukrainian territory,” reads a statement released by the ministry’s press service.

The Ministry of Foreign Affairs also noted that a legal regime of martial law is in effect in Ukraine. If pilgrims visit Uman despite the warnings from Ukrainian authorities, they should be aware of restrictions on freedom of movement, curfews, increased patrolling, and a ban on mass gatherings; violators may face enforcement measures.

In addition, other significant risks should be taken into account when planning a trip. Land transportation links with Ukraine remain overloaded, and significant delays are possible due to shelling. In Uman itself, there are not enough civil defense shelters to accommodate large numbers of pilgrims, and there is a shortage of medical personnel and facilities capable of providing qualified medical care.

For further clarification, the Ministry of Foreign Affairs advises contacting the National Police, the State Emergency Service, the Border Guard Service, and the Customs Service, as well as the Cherkasy Regional State Administration and the Uman City Council. Pilgrims who do decide to travel to the city are advised to familiarize themselves in advance with the rules for paying the tourist tax.

Every year on the Jewish New Year, Rosh Hashanah, tens of thousands of Hasidic pilgrims arrive in Uman, Cherkasy Oblast, to visit the grave of Rabbi Nachman, the founder of Bratslav Hasidism. Despite Russia’s full-scale war against Ukraine, the pilgrimage continues, although Ukrainian authorities regularly urge foreigners to consider the security risks. In 2025, more than 35,000 pilgrims arrived in Uman for the Rosh Hashanah celebrations.

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Ukraine Could Develop Basalt Industry to Rebuild Its Infrastructure — Expert

The large-scale reconstruction of Ukraine could serve as the foundation for creating a modern basalt fiber and composite materials industry, which would integrate the extraction of domestic raw materials, the production of construction materials, and the manufacture of high-value-added products.

This was written by Volodymyr Khaustov, Scientific Secretary of the Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine and Honored Economist of Ukraine, in a column for the Interfax-Ukraine news agency published on July 29, 2026.

According to him, future reconstruction efforts will require significant quantities of cement, metal, glass, thermal insulation, and other construction materials. At the same time, this could create a market for more durable, lightweight, and corrosion-resistant composite products.

According to the fifth joint assessment by the Ukrainian government, the World Bank, the European Commission, and the UN, the country’s reconstruction and rehabilitation needs as of the end of 2025 amount to nearly $588 billion over the next ten years. The greatest needs are in transportation, energy, and housing.

Basalt can be used in roads, bridges, and municipal infrastructure

Basalt fiber is produced by melting prepared rock and then forming it into fibers. It is used to manufacture thermal and acoustic insulation, technical fabrics, reinforcing mesh, concrete fiber, composite reinforcement, profiles, and pipes.

These products can be used in the construction of roads and bridges, the rehabilitation of utility networks, industrial flooring, energy facilities, and buildings. Their advantages include resistance to corrosion, high temperatures, and aggressive chemical environments, as well as relatively low weight.

In a study published in 2026 by the European Commission’s Joint Research Center, basalt fibers are identified as among the advanced and innovative construction materials capable of increasing the durability of structures and supporting the construction industry’s transition to more sustainable technologies. At the same time, European researchers point to the need for testing, standardization, and full life-cycle assessment of new materials.

Ukraine has deposits and scientific expertise

The most well-known basalt raw material deposits in Ukraine are located in the Rivne region. Specifically, these are the Berestovtse and Ivano-Dolynske deposits. Rock types promising for fiber production have also been studied in the Zakarpattia and other regions.

Ukrainian scientific institutions were involved in developing technologies for the production of basalt fibers as early as the second half of the 20th century. In the 1980s, dozens of enterprises involved in the production of basalt materials were operating in the country; however, following the collapse of the Soviet industrial system, most of these facilities ceased operations or significantly scaled back their activities.

Khaustov believes that the first step should be an audit of the Ukrainian basalt industry. This audit should cover the condition of deposits, enterprises, equipment, technologies, patents, and scientific developments.

In addition, Ukraine needs modern standards and testing of basalt materials for strength, durability, fire resistance, and resistance to moisture and chemicals. It would be advisable to harmonize national requirements with European standards.

The next step could be the launch of demonstration projects during the restoration of roads, bridges, utility networks, industrial facilities, and damaged public buildings. Support for the industry could include research grants, preferential financing for equipment, investment insurance, and the involvement of European technology partners.

However, the availability of raw materials alone does not guarantee the competitiveness of production. The industry’s development requires a stable energy supply, modern smelting furnaces, high-quality equipment, product certification, trained specialists, and a guaranteed market for the finished products.

The economic efficiency of each product type must be compared with steel, fiberglass, and other traditional materials, taking into account production costs, energy consumption, logistics, maintenance, and the entire service life.

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Companies that do not own vehicles advised to submit “zero” report to TCC

Ukrainian legal entities are required to submit information on their vehicles to the TCC and the SP twice a year, even if the company does not have any vehicles or other equipment on its balance sheet.

As explained by the Zhytomyr Regional TCC and SP in response to a request from OpenDataBot, if a company has no vehicles, it must submit a so-called “zero” report.

Information on the availability and technical condition of vehicles and equipment must be submitted annually no later than June 20 and December 20. This requirement is stipulated in the Regulations on Military Transport Obligations, approved by Cabinet of Ministers Resolution No. 1921.

Failure to submit the information or missing the deadlines may result in a fine of between 34,000 and 59,500 UAH for company officials.

However, not every violation necessarily results in a fine. An official may provide evidence of valid reasons for the delay, such as medical treatment, a business trip, or caring for a person with a disability.

In the Zhytomyr region in 2026, four companies received such resolutions; however, in all cases, the reasons for the delay were deemed valid, so no fines were imposed.

OpenDataBot recommends that companies verify in advance who exactly is designated as responsible for submitting the information and retain proof of its timely submission.

Primary sources: OpenDataBot, Regulations on Military Transport Obligations No. 1921, and Article 210-1 of the Code of Administrative Offenses.

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“DTEK Networks” Installed Nearly 136,000 Smart Meters in Six Months

According to the results of the first half of 2026, the distribution system operators (DSOs) of DTEK Networks continue to expand the automated commercial electricity metering system (ACEMS), which allows for real-time monitoring of electricity consumption.

“During the first half of 2026, specialists installed nearly 136,000 smart meters in Kyiv, Kyiv, Odesa, and Dnipropetrovsk regions, which is 37% more than during the same period last year,” the operating holding reported on Wednesday.
The pace of smart meter installation continues to grow, and currently, one in three customers in Kyiv, Kyiv, Odesa, and Dnipropetrovsk regions is already using them.

It is noted that smart meters are part of the ASKOE system. They automatically transmit readings to the distribution system operator (DSO), which simplifies the process of accounting for electricity consumption and allows utility companies to more quickly obtain information about the state of the grid and analyze consumption.
As explained by DTEK Networks, for customers, the installation of these meters means less hassle with regularly submitting meter readings and more accurate tracking of electricity consumption.

The implementation of the ASKOE system is taking place as part of an investment program approved annually by the energy regulator, the NEURC.
“You can find out if a meter replacement is scheduled for your home this year on your distribution system operator’s website,” the company explained to consumers.

The installation of smart meters is part of the “Network of the Future” project aimed at modernizing energy infrastructure and implementing Smart Grid technologies.
“DTEK Networks” operates in the business of electricity distribution and power grid operation in Kyiv, as well as in the Kyiv, Dnipropetrovsk, Donetsk, and Odesa regions. The company’s distribution system operators serve 5.1 million households and 150,000 businesses.

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