Business news from Ukraine

Business news from Ukraine

OPENING OF TENANTS’ SPACE OF CHERRY MALL IS SCHEDULED FOR NOVEMBER 10

The opening of tenants’ space on the second floor of the Cherry Mall in Vyshneve, Kyiv region is scheduled for November 10, 2019.
“Today the second floor of the Cherry Mall is almost ready, most of the floor tenants are completing repairs. In particular, Budynok Іhrashok, Foxtrot, as well as a food court on the second floor, in particular, New York Street Pizza, Kryla, burger’s place and other fast food establishments. We set the task to open the second and second+ floors by November 10,” Technical Director of the shopping center Viktor Bleskin told Interfax-Ukraine.
He also said that Sport Life is actively carrying out repair work, which occupied the entire third floor, as well as the Linia Kino cinema chain and the Play & Jump children’s entertainment center on the fourth level.
“The official opening of the entire mall is tentatively planned for the middle of December. By this time, all tenants must complete repairs at their facilities,” Bleskin added.
According to CEO of Edelburg Development (the project developer) Serhiy Kucher, the development of megamalls today is an erroneous strategy.
“It is clear now that local facilities of 20,000-30,000 square meters will live much longer and grow faster,” he said.
As reported with reference to the project manager, partner of UTG (exclusive agent for the rental of retail space in the Cherry Mall), Artiom Neposedov, the first floor in the new Cherry Mall shopping center of 3,400 square meters was opened in September 2019.

155 TYPES OF GOODS FROM UKRAINE TO RECEIVE POSSIBILITY OF DUTY-FREE TRADE IN UNITED STATES

Ukraine from October 30, 2019 will return to the U.S. General System of Preferences, according to a proclamation of U.S. President Donald Trump. “On Saturday Kyiv time or on Friday night in Washington, the news came out that Trump has completely returned Ukraine to the General System of Preferences,” Deputy Minister of Economic Development, Trade and Agriculture, Ukraine’s trade representative Taras Kachka said at a press briefing on Monday.
He said that all 155 types of goods that were removed from the system of preferences, again will receive the possibility of duty-free trade in the United States.
“These are mainly food processing products – confectionery product… [and also] industrial products, especially complex engineering products,” Kachka said.
He said that the return to the system of preferences was made possible thanks to the progress in introducing new legislation on collective management organizations (CMOs).
“This is unlikely to affect trade statistics, since these are not mass products, but will positively influence small and medium-sized businesses,” Kachka added.
As reported, in 2018, the United States suspended the General System of Preferences, which allows the import of more than 3,500 types of goods to the United States duty free, for 155 types of Ukrainian goods due to systematic copyright violation.

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SCANDINAVIAN AIRLINES STARTS FLYING TO UKRAINE

SAS (Scandinavian Airlines) on October 26, 2019 serviced its first in eight years flight to Ukraine on the Oslo-Kyiv route, the Boryspil international airport has said in a report. SAS flies to Oslo’s main airport – Gardermoen.
The airline will make regular flights from Kyiv to Oslo with a frequency of three times a week on Tuesdays, Thursdays and Saturdays, departing from Kyiv at 14.00 and arriving in Oslo at 15.50. From Oslo to Kyiv, the SAS will take off at 09:30 and land at 13:10. Travel time is 2 hours and 50 minutes.
Earlier, SAS had already flown to Ukraine, operating Copenhagen-Kyiv flights until March 25, 2011. The decision to terminate the flights was made by the airline due to the unprofitability of the route.
In 2012-2014, the Oslo-Kyiv route was operated by Norwegian Air Shuttle. Also, the Hungarian airline Wizz Air transported passengers on the same route.

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UKRAINE PLANS TO OPEN OFFICE OF INNOVATIONS IN JERUSALEM

Ukraine plans to open an office of innovations in Jerusalem pursuant to agreements between President of Ukraine Volodymyr Zelensky and Israeli Prime Minister Benjamin Netanyahu, Ukrainian Foreign Minister Vadym Prystaiko has said.
“Ukraine and Israel are getting closer – an important event. Following the results of the agreements between President Zelensky and the Israeli Prime Minister, we plan to open an innovations office in Jerusalem, which, together with the Ukrainian embassy in Tel Aviv, will help new industries of the two countries find partners,” he said on Twitter.

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NATIONAL BANK OF UKRAINE PUTS INTO CIRCULATION 1,000-HRYVNIA BANKNOTE

The National Bank of Ukraine (NBU) on October 25, 2019 put into circulation the 1,000-hryvnia banknote, the NBU has reported on its website.
“From today, banks will be able to get it at the National Bank and give it out to their customers. This banknote is now a valid means of payment in Ukraine. It can be freely used to pay in a retail network or make a deposit with a bank,” the press service of the governor of the central bank said, citing Yakiv Smolii.
According to him, the key advantages of putting into circulation the new banknote with a face value of UAH 1,000 are an increase in the convenience of payments and a reduction in the cost of producing and processing banknotes. The 1,000-hryvnia banknote replaces in circulation some of the banknotes with a face value of UAH 100, 200 and 500. In addition, the appearance of the new banknote will simplify payments and savings.
As the central bank said, the last time the highest face value banknote – UAH 500 UAH was put into circulation 13 years ago. At the same time, Ukrainians’ incomes are rising, prices are changing, therefore, according to theoretical studies used to determine the optimal banknote number by the central banks of the world, to ensure normal money circulation in Ukraine, banknotes of a higher face value than UAH 500 are needed.
According to the press service, the new banknote combines advanced design and money security technologies.
“The 1,000-hryvnia banknote is the highest face value our national currency has today. It is therefore well protected. This banknote contains more than 20 modern security elements, including two modern optically variable elements. Everyone can independently verify its authenticity,” Smolii said.
So, turning the banknote in your hands, you can easily check its modern security element – the SPARK OVI element in the form of a crystal flower, which should gradually change color – from golden to jade green. Another innovative security feature is the “window” thread. This partially embedded in the paper purple polymer thread contains the digits representing the banknote’s face value and the trident – the small coat of arms of Ukraine. Tilting of the banknote brings out the kinematic effect, the background image moves in the opposite direction.
The front of the banknote features a portrait of Volodymyr Vernadskyi, an outstanding scientist, one of the founders and the first president of the Ukrainian Academy of Sciences, created in 1918. The building of the Presidium of the National Academy of Sciences of Ukraine is at the back of the banknote.
The 1,000-hryvnia banknote inherits the new modernized design of the upgraded 20, 100 and 500 hryvnia banknotes.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 28/10/19

National bank of Ukraine’s official rates as of 28/10/19

Source: National Bank of Ukraine