On December 20, 2024, the International Finance Corporation (IFC) of the World Bank Group signed documents to provide a $53.87 million loan to Concern Galnaftogaz to finance the construction of a 147 MW wind farm in Volyn region and technical support.
According to the IFC website, the total cost of the project is estimated at EUR261 million (including VAT), with a 16-year loan provided to the established project companies Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC, controlled by GNG Retail Limited and its subsidiary Concern Galnaftogaz (together – GNG Group).
It is noted that the project involves the attraction of mixed financing, in particular from the UK-FCDO and EC-UIF, as well as the Clean Technology Fund.
Earlier, on December 4, participation in the project was also approved by the European Bank for Reconstruction and Development (EBRD), which has also already signed documents to provide the above-mentioned LLCs with a long-term loan of EUR 60 million for the construction of a 147 MW wind farm in the Volyn region.
The wind farm is expected to produce about 380 GWh (380 million kWh) of renewable electricity with zero carbon emissions annually.
In February 2024, the Antimonopoly Committee of Ukraine (AMCU) allowed GNG Retail Limited (Cyprus) to buy more than 50% of the authorized capital of Wind Power G&I Volyn LLC and Wind Power G&I Volyn 3 LLC. According to open registers, GNG Retail Limited owns 89.5% of the two LLCs, and JSC ZNVKIF Rimini (in which Vitaliy Antonov owns 83.19%) owns 10.5%.
OKKO CEO Vasyl Danyliak announced the start of construction of a wind farm in Volyn region in the fall of 2024. He explained the group’s plans to work in the renewable energy sector by the need to diversify its business, as the fuel market no longer foresees growth.
“Galnaftogaz operates one of the largest networks of OKKO filling stations, which includes more than 400 complexes with a network of catering facilities. The group also includes other businesses.
Vitaly Antonov’s GNG Retail Limited owns 90.25% of Concern Galnaftogaz shares. In October 2024, Avalia Investments Limited (Cyprus) of the founder and chairman of Concorde Capital, Igor Mazepa, became the owner of another 7.35% of the shares.
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.
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.
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.
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.
– 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.
– 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.
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.
