Business news from Ukraine

Business news from Ukraine

Attacks on Ukraine’s critical infrastructure leave civilians vulnerable ahead of winter – Red Cross

Attacks on critical infrastructure during the Russia-Ukraine war are leaving civilians vulnerable ahead of winter, the International Committee of the Red Cross (ICRC) regional director for Europe and Central Asia, Ariane Bauer, said in a statement on Tuesday.

“Light, heat, water. These services are vital for people to survive the cold months ahead. Yet their access to these life-saving services is limited or disappears with each blow that damages water pipelines, power plants and other critical infrastructure. Critical infrastructure that makes vital services, including water and electricity, possible for the population is protected under international humanitarian law. All precautions should be taken to ensure the safety of both civilians and the vital services on which they depend,” it emphasized.

The statement noted that as winter approaches, strikes on critical infrastructure “increase the strain on systems that, after several years of Russian-Ukrainian armed conflict, are already operating at the limits of their capacity.”

 

Indonesia considers issuing yuan-denominated bonds

Indonesia’s Finance Ministry is considering issuing its first yuan-denominated government bonds (panda bonds) in 2026, the Financial Times reported, citing two sources.

The interest in panda bonds comes as Beijing promotes the use of its currency in international trade and finance to increase global influence and reduce dependence on the U.S. dollar.

Earlier this year, Brazil, Pakistan and Slovenia announced plans to issue panda bonds.

“From the perspective of international issuers, it provides more opportunities, broadens the investor base in the long term and helps lower the cost of financing for the country,” said OCBC Asia macroeconomic research head Tommy Xie. – “People want to move away from the dollar and look at other markets.

Panda bonds have become increasingly popular since 2023, thanks to Beijing’s regulatory reforms and lower financing costs. In 2024, panda bond issuance reached a record 195 billion yuan ($27 billion), according to Wind. However, it still represents only a fraction of China’s debt market.

Panda bond issuance is expected to grow significantly in the coming years and will be an important factor in the globalization of the yuan, the Institute of International Finance (IIF) said in a report earlier this year.

Analysts also forecast the issuance of “dim sum” (bonds denominated in yuan but issued outside mainland China, mainly in Hong Kong) to rise to a record this year. Specifically, Indonesia issued its first such bonds worth 6 billion yuan in October and plans to continue issuing “dim sum” next year, sources told the FT.

 

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Ukrainians ranked among top five foreign buyers of real estate in Turkey in September

According to the Turkish Statistical Institute (TÜİK), in September 2025, sales of real estate to foreigners in Turkey fell by 7.7% year-on-year to 1,867 properties. The share of transactions with foreigners in the total volume was 1.2%. Most purchases were made in Istanbul (744), followed by Antalya (557) and Mersin (124).

Among foreign buyers, Russians took first place with 267 properties, followed by Iranians with 202 and Iraqis with 146. The top five also included citizens of Germany with 121 and Ukraine with 118. In January-September, foreigners purchased 14,944 properties, which is 12.6% less than a year earlier.

A total of 150,657 residential units were sold on the Turkish market in September, which is 6.9% more than in September 2024.

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EVA has invested UAH 100 mln in improving energy independence of its network

The EVA chain of stores has invested approximately UAH 100 million in improving the energy independence of its stores, logistics centers, and offices since 2022, purchasing nearly 1,200 generators and installing three rooftop solar power stations, according to the company’s press service.

The backup power system in stores is based on gasoline generators (1,133 units). The company keeps several dozen more generators in reserve to supplement the network or replace them in case of breakdowns. Uninterruptible power supplies based on EcoFlow and other similar systems are also provided. Stores located in shopping centers can obtain the necessary energy from the diesel-generating capacities of the shopping centers.

According to the press service, the share of cashless payments at EVA is over 50%, and the ability to pay for purchases by card even in the event of power outages and mobile communication interruptions is provided through fiber-optic internet. It is connected to store servers that exchange data with the company’s central server and bank POS terminals.

“In the absence of such a channel, a scheme has been implemented to work with data terminals that accumulate data and synchronize with the central server as soon as a connection is available. However, in this case, the use of loyalty program options is limited—bonuses are accrued but cannot be redeemed,” explains Viktor Sredniy, COO of the EVA store chain.

The company’s key distribution centers were provided with independent power supplies (powerful diesel generators) even before 2022. Currently, sufficient diesel fuel reserves have been made to ensure the operation of warehouses during stabilization/emergency shutdowns of the centralized power supply.

As an additional source of energy, solar power plants were installed at the company’s distribution centers in 2025: in Lviv (1,239 panels, 718 kW capacity), Dnipro (791 panels, 459 kW capacity), and Brovary (1,940 panels, 1,125 kW capacity).

According to Mykola Leonov, chief power engineer of the EVA and EVA.UA chain of stores, SES coverage ranges from 17% to 66% depending on the season and warehouse operating mode.

In connection with the expansion of the network and the increase in the company’s logistics capabilities, work continues in the direction of energy independence and energy efficiency. New stores are being equipped with generators on an ongoing basis. There are plans to install a rooftop solar power plant on a new warehouse building in Lviv and to purchase powerful diesel generators for backup power for this building and a new warehouse in Brovary. These facilities are scheduled to be commissioned in 2026.

“We are technically prepared for possible challenges. At the same time, the major risks for the business lie in the unpredictability of the scale and duration of power outages. We cannot maintain significant fuel reserves for each store, and since generators are now used by many companies across the country, simultaneous high demand could lead to a shortage of resources,” says Leonov.

Rush LLC, which operates the EVA chain, was founded in 2002. As of early 2025, the chain had 1,109 stores in operation.

According to YouControl, the owner of Rush LLC is listed as Cyprus-based Incetera Holdings Limited (100%), with Ruslana Shostak and Valeria Kiptika as the ultimate beneficiaries.

At the end of Q3 2025, Rush’s net income increased by 18.6% compared to the same period last year, to UAH 22.916 billion. Net profit decreased by 14.7% to UAH 1.7 billion.

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Three ships carrying 70,000 tons of wheat arrived at Syrian port of Tartus

Three cargo ships carrying more than 70,000 tons of wheat arrived at the port of Tartus in Syria as part of a program to strengthen strategic grain reserves and meet domestic market needs, local publication sana.sy reported, citing information from the port administration.

“Three ships loaded with more than 70,000 tons of wheat arrived at the port of Tartus for the General Directorate of Grain Trade and Processing as part of the government’s ongoing efforts to strengthen strategic grain reserves and meet the needs of the local wheat market,” the publication noted.

Yousef Arnous, the port’s operations manager, said that two ships brought grain from Ukraine and one from Russia, and they’re currently being unloaded. Part of the cargo will be stored in the port’s grain silos, while the rest will be transported by truck and rail to meet local market needs and ensure food security.

He added that a fourth ship with 26,000 tons of wheat is waiting to be unloaded, and there are signs that additional ships loaded with approximately 50,000 tons will arrive in the near future.

Nidal Abdel Kader, assistant director of the Tartus branch of the railway, said that one of the ships, called Golden Nour, arrived in Tartus with a cargo of more than 30,000 tons of wheat. Part of this cargo was delivered to the Ash-Shinshar elevators, and this is already the fourth delivery in the last period.

The publication recalled that on November 5, four ships carrying 94,000 tons of wheat arrived at the port of Tartus to replenish strategic reserves and meet the needs of mills in various provinces of Syria.

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Vinnytsia-based company Argon Food has installed 114 kW solar power plant

Argon Food, a company specializing in the production of bakery products and the storage and transportation of other food products, has installed a solar power plant with a peak capacity of 114 kW, according to Andriy Ocheretny, deputy mayor of Vinnytsia, on Facebook.

“A solar power plant with a peak capacity of 114 kW was installed on the roof of the enterprise. The station was put into operation at the end of May, and since then, thanks to its operation, the enterprise has covered almost all of its electricity needs,” he wrote on Facebook.

According to Ocheretny, the company has become one of the applicants for participation in the Procedure for partial compensation of expenses for the purchase of equipment used for the production of electricity from renewable energy sources within the city program.

“In the context of blackouts, the transition to ”green” energy is the path to energy independence. This strategic decision helps businesses reduce production costs, retain staff, and create new jobs, while contributing to the sustainable development of the community,” concluded the deputy mayor of Vinnytsia.

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