The European Union is not yet ready to review the volume of quotas for Ukrainian agricultural products, but Ukraine will continue the dialogue on expanding them, particularly with regard to bioethanol, said Minister of Agrarian Policy and Food Taras Vysotsky at a briefing on Thursday.
“The current socio-political situation in the EU does not allow for a review of agricultural product quotas in any category. We will nevertheless continue the dialogue and make our case for what is important,” he said.
According to the minister, one of the areas where Ukraine considers it appropriate to review the quota is bioethanol. Among his arguments, he cited the reduction in EU corn production for bioethanol to about 15 million metric tons and the European Union’s continued imports of corn.
“Essentially, increasing the quota is really just a way to allow the export of bioethanol, which will then be re-exported to Ukraine,” Vysotsky noted.
The head of the Ministry of Agrarian Policy added that Ukraine imports gasoline from the EU that contains about 7% bioethanol.
“We are requesting a quota to export approximately the same amount of bioethanol that Ukraine already imports as part of fuel—in gasoline from the European Union—plus 60,000 metric tons,” the minister explained.
Toronto and Vancouver saw the most significant declines in housing prices among the 23 largest global markets analyzed by UBS in 2026.
Over the past four quarters, real housing prices in both Canadian cities have fallen by approximately 10%, according to the UBS Global Real Estate Bubble Index 2026.
The correction was particularly severe in Toronto. From 2014 to 2022, real prices there doubled due to rapid population growth, investment demand, and cheap financing.
After 2022, the situation changed. Due to rising interest rates, restrictions on foreign buyers, and an increase in supply, real prices are now nearly 30% below their peak, according to UBS.
In Vancouver, real prices have fallen by nearly 10% since mid-2025 and are about 20% below their 2022 peak. Home sales have dropped to their lowest level in about 25 years, while the number of properties on the market remains significantly above the long-term average.
As a result, UBS now classifies both cities as only moderate risk: Toronto’s index stands at 0.63, and Vancouver’s at 0.62. Just a few years ago, the Canadian markets were considered among the most overheated in the world.
A correction is also underway in Germany, though less sharply. Real prices in Frankfurt and Munich have fallen by nearly 4% over the past year. In Frankfurt, housing prices—adjusted for inflation—are already about 25% below their 2021 peak.
At the same time, UBS notes that a structural housing shortage persists in both Germany and many other major cities, which limits the potential for further price declines.
Kyiv was not included in this study.
The Turkish company ASTOR Enerji A.Ş., which specializes in electrical equipment manufacturing, plans to implement a project worth up to $200 million in the Kyiv region, which will involve the production of energy storage systems and transformers, according to the Kyiv Regional Development Agency.
“The company is considering investing up to $200 million in the creation of a modern manufacturing complex in the Kyiv region. The project involves the production of energy storage systems, battery solutions, electrical equipment, and transformers,” the agency stated in a post on LinkedIn on Tuesday.
It notes that a corresponding memorandum with ASTOR Enerji A.Ş. was signed by the Kyiv Regional Military Administration with the agency’s support during the Carpathian Eight Summit.
The agency notes that for the Kyiv region, the implementation of such a project will mean the creation of new production capacity and jobs, further industrial development, the introduction of advanced technologies, and enhanced energy resilience.
It explained that it will continue to support the project through the next stages: from selecting potential investment sites and engaging with local communities to coordinating further steps with the investor.
Zurich and Tokyo were the only two of the world’s 23 largest cities that UBS classified in 2026 as having a high risk of a housing real estate bubble.
According to the UBS Global Real Estate Bubble Index 2026, published on September 22, Zurich’s index stood at 1.69 and Tokyo’s at 1.54. UBS considers an index above 1.5 to indicate high risk.
The “elevated risk” category included Miami with an index of 1.41, Dubai at 1.16, Seoul at 1.13, Geneva at 1.12, and Lisbon at 1.04.
Moderate risk was recorded in Amsterdam at 0.95, Madrid at 0.86, Los Angeles at 0.69, Sydney (0.68), Frankfurt (0.64), Toronto (0.63), Vancouver (0.62), Munich and Hong Kong (both 0.61), Singapore (0.54), and Milan (0.50).
UBS classified Paris (0.33), London (0.32), New York (0.28), San Francisco (-0.02), and São Paulo (-0.24) as low-risk markets.
In Zurich, real housing prices have risen by nearly 140% over the past 20 years, while rental rates have increased by approximately 40% and household incomes by 30%. The ratio of purchase price to rental cost has reached 46 years—the highest figure among all cities studied by UBS.
In Tokyo, inflation-adjusted housing prices are now about 50% higher than they were seven years ago. Over the past year, they have risen by another 6% or so.
UBS notes that, on average, real housing prices in all surveyed cities rose by only 0.5% over the past year; however, a significant gap has emerged between individual markets.
The bank emphasizes that a high index reading does not predict an inevitable crash. A correction could occur due to changes in interest rates, investor sentiment, or a significant increase in housing supply.
The situation in Ukraine’s metallurgical sector is currently catastrophic; in particular, shelling at Metinvest Group facilities has destroyed five furnaces, and two furnaces at ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk Oblast)—the plants are not operating, said the head of the office of Metinvest Group CEO
Oleksandr Vodovyz, at the Economic Resilience Forum organized by Forbes Ukraine in Kyiv on Wednesday.
“Absolutely all the plants have been destroyed. These include Arcelor, Metinvest, the Petrovsky Plant (Yaroslavsky DMZ), and Interpipe. They were hit several times. Many people were killed. We are not operating. I know that Arcelor is not operating. As far as I know, the Petrovsky Plant has also been shut down. And Interpipe, as far as I know, hasn’t repaired its transformer either,” said Vodoviz.
According to him, there was a week in September when Ukraine did not produce a single metric ton of steel for the first time in 100 years, and Metinvest’s facilities remain shut down.
“We’re at a standstill, assessing (the possibilities for resuming operations). We tried to restart production at Zaporizhstal: we fired up the furnace, it ran for 10 hours, and then—a second failure. Just so you understand, starting up the furnace costs $50 million, and the furnace itself costs $0.5 billion. Repairing it in any way would require enormous funds,” the top manager explained.
He added that the company had reached out to various ministries for help in this situation, but the assistance offered amounted to only 2–5 million hryvnias.
Vodoviz, while agreeing with the need to support small businesses, also emphasized that large businesses are the foundation upon which small businesses operate.
“They supply us with water, cables, and perform various services. We have 50,000 contractors. Unfortunately, there is currently no solution for large businesses. One respected individual asked the Ministry of Economy: ‘What’s the plan?’ Have any of you heard this plan? I haven’t. There is no plan right now. That’s why we’d like to hear what the plan is. What’s next? Should we lay off people or not? We’re all just waiting to see what happens,” said the head of the CEO’s office at Metinvest.
According to him, the group is currently planning its actions no more than a month in advance.
“No one is looking further than six months ahead. Everyone is sitting back and watching to see what happens. My view is this, and we see for ourselves that the economic situation is extraordinary. And extraordinary decisions are needed. You can’t live in an extraordinary situation and make decisions that are made as usual,” the expert believes.
When asked about the amount of investment needed for recovery, Vodoviz noted that the group has not yet calculated this.
“We haven’t calculated it yet, but as an example, I mentioned that one furnace costs $500 million if built from scratch, and all five of our furnaces are damaged. Arcelor has two damaged ones. That’s billions of dollars. But we’re assessing the situation. Right now, we definitely won’t be investing in reconstruction because we don’t understand how the situation will develop further,” the top manager explained.
He noted that if the situation changes in any way within a month or two, then appropriate decisions will be made, but for now, there are none. He clarified that at Metinvest, decision-making depends on three factors, and not all of them are military in nature. Although the main one—the first—is shelling and attacks on industrial facilities.
“The second is the ports. Right now, we’re not shipping out or exporting, even though we were the country’s largest exporter until 2026. And the third factor, strange as it may seem, is our European partners, who have completely blocked our exports of steel products. They imposed SWAM; they imposed quotas. And yet they promised us this wouldn’t happen. We held negotiations with both the Ministry of European Integration and the Ministry of Economy. But the EU implemented these measures anyway,” Vodoviz stated.
According to him, these are the three main major problems that need to be resolved.
Regarding state aid, the manager stated: “We don’t turn to the government; we don’t ask for any grants; we don’t want the government to finance us. We simply want a level playing field. There is, for example, the Ukraine Facility program. I know that some funds are being allocated through the Ukraine Facility. Unfortunately, we don’t have access to this program, although we would like to,” said the top executive.
As for ideas about raising taxes, in his opinion, “they won’t lead to anything good.”
“I’m sure any business would say here: don’t get in our way,” concluded Vodoviz.
“Metinvest” is a vertically integrated group consisting of mining and metallurgical enterprises. The group’s enterprises are located primarily in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions. The holding’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it. Metinvest Holding LLC is the management company of the Metinvest Group.
MANUFACTURING, METALLURGY, METINVEST, mining and metallurgical complex, STEEL
According to Experts Club, consuming a small amount of concentrated tomato paste daily for three months may have a positive effect on certain measures of memory and attention in healthy middle-aged people, according to the results of a clinical study by Spanish researchers.
According to the New York Post, participants in the experiment consumed about 35 grams of concentrated tomato paste daily—roughly two tablespoons. The study was published in the scientific journal Antioxidants.
The randomized crossover study involved 47 healthy adults aged 40–55, 42 of whom completed the experiment. Participants went through two three-month periods: during one, they consumed concentrated tomato paste daily at a rate of 0.5 g per kilogram of body weight; during the other, they followed a diet low in lycopene. There was a one-month break between periods.
According to the results of neuropsychological tests, the participants’ selective attention scores improved after the period of tomato paste consumption. Concentration scores increased by an average of 7.2 points, and information processing speed scores increased by 8.3 points. Improvements in associative memory were also observed, particularly the ability to match faces with names.
The researchers also noted a trend toward increased levels of the brain-derived neurotrophic factor (BDNF)—a protein involved in supporting neurons, neuroplasticity, and memory processes. However, this increase was on the borderline of statistical significance.
Functional MRI scans of some participants revealed changes in the connections between neural networks associated with attention and cognitive functions. The study authors suggest that tomato consumption may contribute to the functional reorganization of brain networks.
Scientists cite lycopene—a carotenoid antioxidant found in abundance in tomatoes and tomato products—as one possible factor behind this effect. Lycopene is capable of crossing the blood-brain barrier and possesses antioxidant and anti-inflammatory properties. At the same time, the researchers emphasize that tomatoes contain many other biologically active substances, so it is currently impossible to determine whether the observed effect is linked exclusively to lycopene.
The authors also caution against overinterpreting the results. The study was small, lasted only a few months, and was conducted among healthy middle-aged adults. It does not prove that tomato paste prevents dementia or can be used to treat cognitive impairment.
Original study: PubMed – Tomato Intake Improves Cognitive Performance and Modulates Functional Brain Networks in Healthy Adults.
