Business news from Ukraine

ASKOR INSURANCE COMPANY IS REGISTERED IN UKRAINE

The National Commission for the State Regulation of the Financial Services Market took a decision include put Askor Insurance Company LLC (Kyiv) in the State Register of Financial Institutions, the regulator reported on its website.
According to the Unified State Register of Legal Entities and Individuals of Ukraine, the company, which deals with risk insurance, was registered in May 2019. The charter capital of the company is UAH 40 million.
One of shareholders of Askor, Oleksandr Viliuha, will head the newly-set company.

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ZTMK AFTER TITANIUM TETRACHLORIDE LEAKAGE TO WORKING SITE OPERATING AS NORMAL

Zaporizhia Titanium and Magnesium Combine (ZTMK) LLC, part of Group DF’s titanium business, in which the state owns a 51% stake, after the elimination of an emergency situation related to the leakage of titanium tetrachloride on July 28 is operating as normal.
According to a press release of the company, the emergency situation is completely eliminated.
“At 09:30 on July 28, a small amount of titanium tetrachloride leaked to the work site in shop No. 7 at ZTMK LLC. According to the emergency response plan approved at the enterprise, ZTMK staff called up a special object service of the Emergencies Service, which, together with the rescue service of ZTMK, during one hour completely eliminated the spill,” the report says.
As a result of the incident no one was hurt.
“At present, the enterprise is operating as normal. There are no threats to the population or the environmental situation. Based on the results of the incident, a special working group was set up at the enterprise, which began to clarify the causes of the incident,” it said.

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UKRAINE SUSPENDS OPERATOR CERTIFICATE OF EUROPE AIR CARRIER

The State Aviation Service of Ukraine suspended the Air Operator’s Certificate No.UK 046 of Europe Air Kyiv Airline from 00:00 UTC (03:00 Kyiv time) on July 27, 2019.
The decision was taken by the permanent Commission on certification of operators, organizations for the maintenance and continuing airworthiness, designers and manufacturers of aircraft, schools for pilot training in Ukraine, flight and technical personnel of the State Aviation Service, as the regulator’s press service reported.
According to the State Register of Aircraft of Ukraine, Europe Air operates five freight IL-76 TD planes, which were produced in 1900-1992 and belong to Infinite Seal Inc.
The company’s airport is based in Kryvyi Rih, however, the flights are mainly served from the airport in Sharjah (United Arab Emirates) to the states of Africa, India, Pakistan, Afghanistan, Sri Lanka, Indonesia, Turkey, Kazakhstan, Bulgaria, Georgia and Lithuania, the company says on its website.
Revenue of Europe Air was UAH 2.2 million, a net profit – UAH 0.26 million in 2017.

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SKYUP TO LAUNCH DIRECT FLIGHTS BETWEEN KHARKIV AND LVIV FROM OCTOBER, TO LINK KYIV WITH KHARKIV AND ZAPORIZHIA

Ukrainian low-cost airline SkyUp Airlines (Kyiv) will launch three new domestic flights from October, the company said on its website.
What is more, the frequency of SkyUp flights between Kyiv and Lviv will increase.
The Kyiv-Zaporizhia flight fare starts from UAH 498. The flights will be carried out on Monday, Tuesday, Wednesday, and Friday starting from October 28, 2019.
The Kyiv-Kharkiv flight fare starts from UAH 498. The flights will be available on Monday, Wednesday, and Friday starting from October 25, 2019.
Flights between Kharkiv and Lviv will be launched for the first time in Ukraine; tickets will cost starting from UAH 639. The flights will be carried out on Thursday and Sunday from October 17, 2019.
The airline stressed that the development of domestic routes is what SkyUp can do and continues doing for Ukraine.
“SkyUp Airlines is now fighting for its right to fly. Every day we are trying to get better. You wanted to open Europe – we launched flights to Barcelona, Paris and Naples. You liked the holidays in Lviv – we reviewed our winter flight schedule. Now after one hour on board the plane, you will be able to have lunch with partners in Kharkiv, or enjoy time with friends from Lviv – at the price of a train ticket,” the company’s press service quotes CEO Yevhen Khainatsky are quoted as saying.
Tickets for the three destinations are already available for booking.
As was reported, SkyUp, which was set up in June 2017, transported 668,500 passengers in the first half of 2019.
Currently, its fleet consists of eight planes: six Boeing 737-800 and two Boeing 737-700.

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WORLD-WIDE RUSSIAN-LANGUAGE CHANNEL TO BE CREATED BY UKRAINE

A world-wide Russian-language channel will be created in Ukraine to strengthen the position of the state in the informational struggle, said Deputy Head of the Presidential Office of Ukraine Kyrylo Tymoshenko in an interview with Interfax-Ukraine.
According to him, such a channel is needed so that Ukraine could fight both for the minds of Ukrainians in the occupied territories of Donbas and Crimea, and for the minds of Russians in the territory of the Russian Federation. “We have developed a launch option for the Ukrainian Russian-language channel, with which we will be able to cover the Russian-speaking population all over the world,” said Tymoshenko.
According to him, the team of President Volodymyr Zelensky wants it to be a state channel. “But we are negotiating with private channels about the handover of rights to use their coolest content,” Tymoshenko said.

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VACANCY RATE OF SHOPPING AND ENTERTAINMENT CENTERS MANAGED IN UKRAINE BY ARRICANO (CYPRUS) IS 0.1%

An average vacancy rate across portfolio of shopping and entertainment centers in Ukraine managed by the Arricano Real Estate Plc (Cyprus) is 0.1% through January-June of 2019, according to the company’s report on London Stock Exchange (LSE). “In the first half of 2019, the average vacancy rate of shopping malls in Kyiv is 5.5%, and in our shopping malls, Kyiv inclusive, this rate is several times less. Going into the second half of the year, Arricano has recorded the lowest vacancy rates since 2012. I believe this is a result of the systematic work, innovative approaches and competent management in recent times,” said Arricano CEO Mykhailo Merkulov.
In particular, for the first half of 2019, Sun Gallery (Kryvyi Rih) and City Mall (Zaporizhzhia) recorded a 100% occupancy, whilst the RayON and Prospekt shopping malls (both located in Kyiv), recorded vacancy rate of 0.08% and 0.17% respectively.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.

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