Business news from Ukraine

Business news from Ukraine

State register of legal entities will resume its work today

The work of the Unified State Register of Legal Entities, Physical Entrepreneurs and Public Formations (USR) will be resumed on Thursday, January 9 after a large-scale cyberattack by Russia, the Ministry of Justice of Ukraine reports.
“Tomorrow will resume electronic information interaction with government agencies – the State Tax Service, the State Statistics Service of Ukraine, the Pension Fund of Ukraine, the Ministry of Digital Transformation and other agencies that use the data of the UGR in their activities,” it said.
In particular, a number of online services with the help of the application “Diya” will work. Such functions as free search of information in the register, formation of extracts, obtaining the results of administrative services by access code, access of state bodies to the information of the register through access identifiers will resume work on the UGR portal.
“Our team continues to work on the restoration of other registers. We know how important to you the convenience of access to public services and their smooth operation. Therefore, together with the Cyber Police, the Cyber Department of the SBU, the State Spetsvyaz and specialists of the National Information Systems, we are doing everything possible not only to resume the work of the registers, but also to strengthen their protection. Your trust is our responsibility and an incentive to work even harder,” the ministry emphasized.
As reported, the website of the Ministry of Justice of Ukraine restored work on Wednesday.
On December 20, Stefanyshyna said that all data in the registers will be restored, but it will take some time, then she estimated it at about two weeks.
In comments on the Facebook page of the Ministry of Justice, readers are asking for the real estate registry and executive services to resume work as soon as possible.

 

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Supreme Court has recognized the preparation of hookahs in restaurants as advertising and promotion of tobacco products

The Supreme Court of Ukraine (SCU) has ruled that hookahs in restaurants are a promotion of tobacco products, and therefore hookahs are absolutely prohibited in restaurants, regardless of their composition.

In this way, the Ukrainian judiciary has defended the right of citizens to health in order to strengthen the fight against the tobacco epidemic.

Since 2012, advertising and promotion of tobacco products, including hookah tobacco, have been banned in Ukraine. Despite this, unscrupulous business entities provided hookah services, which by definition is a form of advertising and promotion of tobacco sales.

The Supreme Court of Ukraine, having considered the cassation appeals of the Main Department of the State Service of Ukraine on Food Safety and Consumer Protection in Kyiv in cases No. 320/29317/23 and No. 320/23655/23, issued decisions confirming the legality of the imposition of financial sanctions by the State Service of Ukraine on Food Safety and Consumer Protection on business entities for stimulating the sale of tobacco products by providing hookah services, which are violations of Article 16 of Law 2899-IV.

The Supreme Court notes: “The provision of hookah services by an establishment should be considered as a promotion of tobacco products and tobacco use, even if there is no direct advertising of the product.”

In addition, it is prohibited to place information about hookah services on the menu: “The placement of information about tobacco products or related services in the menu of a restaurant establishment or on posters falls under the prohibition of advertising and promotion of tobacco products, trademarks for goods and services.”

Thus, restaurant establishments are not allowed to provide hookah services at all. Theposting of information about tobacco products and items related to their use is prohibited (except for one poster no larger than 40×30 cm per point of sale, which provides textual information printed in black on a white background about tobacco products available for sale and their prices).

The above positions of the Supreme Court are fully consistent with international standards, in particular the WHO Framework Convention on Tobacco Control, the WHO FCTC Guidelines and Directive 2014/40/EU, which prohibit any advertising of tobacco products, including hookah tobacco and hookah accessories.

The Law No. 2899-IV stipulates that violation of Article 16 is punishable by a fine of UAH 30 thousand, and in case of repeated violation within a year – UAH 50 thousand for each fact of advertising on a separate advertising medium or each separate event to promote the sale of tobacco products.

“The decision of the Supreme Court is extremely important as it confirms that the actions of the State Service of Ukraine on Food Safety and Consumer Protection in preventing advertising and promotion of tobacco products through hookahs are in line with the law. Thus, we see in action that the health of citizens is a priority for the state and it is able to defend it,” emphasized Dmytro Kupyra, executive director of the NGO ‘Life’.

Hookah smoking is dangerous for the health of both smokers and people around them, as hookah smoke contains a high concentration of toxic substances and carcinogens. The World Health Organization emphasizes: 1 hour of hookah smoking can be equal in terms of smoke exposure to a hundred cigarettes smoked. During a hookah session, a smoker takes about 200 puffs, inhaling 30-40 times more smoke than when smoking cigarettes.

Prolonged inhalation of secondary hookah smoke can cause dizziness, carbon monoxide poisoning, and later asthma, coronary heart disease, stroke, and even lung, esophageal, and stomach cancer.

WHO surveys show that 2.6% of Ukrainians are hookah smokers, with this share concentrated in the youngest age group of 18-29 years old.

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Trump’s special envoy aims to find solution to end Russia’s war against Ukraine within first 100 days of his inauguration

The future US Special Envoy for Ukraine and Russia, Keith Kellogg, said that he aims to find a solution to end Russia’s war against Ukraine within the first 100 days of Donald Trump’s presidency.

“I think the biggest mistake that President Biden made is that he never engaged in conversations with Putin. I mean, he hasn’t talked to him in over two years. He needs to talk to him. That’s one of the great things that the president (Trump) is doing – he’s talking to both adversaries and allies,” Kellogg said on FOX News.

According to the general, Trump “really knows that you have to talk to people to get things done, and that’s what he’s going to do.”

“We will create the conditions for the president, and eventually he will be in a position to talk to President Putin and also to President Zelensky. And I think they will come to an acceptable decision in the short term. And when I say “in the short term,” you know, I would like to set a goal on a personal level, on a professional level. I would say let’s set 100 days,” Kellogg said.

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Where is best place to buy apartment in Balkans in coming years – overview

Below are current (as of the beginning of 2025) examples of prices and recommendations for choosing a country to buy real estate in. Please note that prices may vary depending on the area, quality of housing and type of construction.

Serbia

– Belgrade: from 1,800 to 2,500 euros/m² in the mass segment and from 3,000 euros/m² in premium areas (Vračar, Old Town, Waterfront).

– Novi Sad: from 1,500 to 2,000 euros/m².

Why you should pay attention:

1 Stable growth in real estate prices (+30-40% over the past three years and up to 10-15% annually).

2 Active IT industry and demand for rent from IT professionals and expats.

3 Minus: Serbia is not in the EU, and obtaining a residence permit (provided you do not live in real estate) requires additional study of the laws.

Montenegro

– Budva, Kotor (coast): from 2,000 to 3,000 euros/m² in modern apartments with sea views.

– Podgorica (capital): from 1,200 to 1,700 euros/m².

Why you should pay attention:

1 Tourist location and the “golden passport” program (sometimes gives benefits for investments).

2 Price growth of about +20-30% since 2020, especially in the coastal zone.

3 Cons: the market is small, and the liquidity of housing may depend on the season.

Bosnia and Herzegovina

– Sarajevo: from 1,000 to 1,400 euros/m² for new projects in good areas.

– Banja Luka: from 900 to 1,200 euros/m².

Why you should pay attention:

1 The lowest starting prices in the region, which gives the potential for growth in the future.

2 The price increase is ~10-15% in recent years, slower than in the neighboring countries, but stable.

3 Cons: non-EU country, underdeveloped mortgage for foreigners, you will have to look for the “right” local agent.

Bulgaria

– Sofia: from 1,200 to 2,000 euros/m² depending on the area (Lozenets, Center can reach up to 2,500 euros/m²).

– Varna, Bourgas (sea coast): from 1,500 to 2,500 euros/m² in new complexes.

Why you should pay attention:

1 EU membership provides more guarantees for foreign buyers.

2 Price growth in the capital and on the coast averaged +25-35% over three years.

3 Cons: Competition is high, and good properties are quickly snapped up.

Albania

– Tirana: from 1,000 to 1,500 euros/m².

– Vlora, Saranda (coast): from 1,500 to 2,000 euros/m² in houses with sea views.

Why you should pay attention:

1 In recent years, there has been a boom on the coast due to tourists and expats.

2 Price growth of +20-25% from a low start: promising for long-term investment.

3 Minus: the market is still unstable, legislation is changing, it is worth additionally checking the legal side.

Romania

– Bucharest: from 1,400 to 2,200 euros/m², premium areas may be higher.

– Cluj-Napoca: from 1,500 to 2,100 euros/m² (active IT hub).

Why you should pay attention:

1 It is an EU country, so there are more transparent rules for foreigners.

2 Price growth of +25-30% in recent years, especially in cities with a developed IT sector.

3 Minus: in the central areas of large cities, housing may already be overvalued.

To summarize, Bosnia and Albania are good for long-term investment and a relatively low entry threshold. The price per m² is still significantly lower than in the rest of Europe, and the potential upside could be significant if the countries move towards EU membership.

If stability and the EU are also important, look at Bulgaria and Romania. Their markets are already “warmed up”, but the protection of foreign investors is higher. Plus, there are programs for obtaining a residence permit/PERM.

Serbia is a good compromise between low housing costs (outside of Belgrade) and growth dynamics. Especially promising are cities with a strong IT cluster, where there is a demand for rent.

Montenegrin real estate by the sea remains quite expensive, but the country offers flexible conditions for investors and the opportunity to combine the purchase of housing with a residence permit.

Important: Always check the legal details of the transaction and the conditions for obtaining a residence permit, and engage specialized lawyers and realtors.

The prices in the review are approximate and depend on the specific project and neighborhood.

Ukrainian soybean exporters maintain their positions on stable market

Despite the seasonal decline in global market activity during the holiday season, Ukrainian soybean exporters are maintaining their positions, according to the analytical cooperative Pusk, created within the framework of the All-Ukrainian Agrarian Council.

“Despite the difficult economic situation in China, which may reduce soybean imports to 95-100 mln tons, the market is stable. Since August last year, prices on the stock exchange have remained stable, and short-term drops are quickly compensated for. This suggests that the exchange market is currently ignoring global challenges. Of course, high global stocks create uncertainties, but the trend toward price recovery continues. Ukrainian soybean exporters can use this period to strengthen their positions,” the analysts said.

They noted that historically, January, February and March show the upward trend of soybean prices. In this regard, they predict an increase in soybean prices in Ukraine by the end of January.

“We are already seeing an increase in prices: in the domestic market, they have risen by 200-300 UAH/ton, and in foreign currency terms, by $3-5/ton. We can predict that conditional prices on the CPT basis will amount to $400-410/ton in January, and in February-March they will even exceed this level. This is a favorable period for farmers who plan to sell their products,” Pusk summarized.

“Nibulon” has completed digitalization of its elevator network

IT specialists of one of the largest grain market operators in Ukraine, JV Nibulon LLC, together with the IT-Enterprise team, have completed the restart and digitalization of the quantitative and qualitative accounting of the elevator network, the grain trader’s press service reported on its Facebook page.

According to the report, the project to optimize quantitative and qualitative accounting included improvement of business processes for grain accounting, additional processes for logistics management and costing.

“The establishment of a new efficient version of the quantitative and qualitative accounting business process made it possible to automatically track the movement of grain, its key indicators, and the funds spent on processing and transportation from the moment it arrives at the elevator to the shipment to the end consumer. This allows us to calculate the exact cost price and, accordingly, the profitability. And most importantly, we understand what impact can be made at each stage to improve financial and service performance,” said Nibulon’s IT Director Mykola Riasko.

The ultimate goal of the project is to switch to a fully digital elevator model, the principle of which is based on managing and coordinating all processes with digital systems. This concept is gradually being scaled up to all 23 Nibulon elevator complexes.

“If we describe the results of the quantitative and qualitative accounting digitalization project in three theses, firstly, it is the simplification and automation of business processes, and the acceleration of their passage. Secondly, it is the accuracy of accounting, which ensures the clarity and relevance of the company’s financial position. Thirdly, it is more customer-oriented, as the process of providing services has become better and faster,” emphasized Ryasko.

Nibulon added that the digitalization project also contributed to the unification of accounting processes at all branches of the company and improved integration with equipment and third-party systems, which ensured effective management of business processes.

JV Nibulon LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.

“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever volume of 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.

Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.

Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.

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