Business news from Ukraine

Business news from Ukraine

ARMA continues to manage stake in distributor Venta

The National Agency of Ukraine for the Identification, Tracing, and Management of Assets Derived from Corruption and Other Crimes (Asset Tracing and Management Agency, ARMA) continues to manage the stake in the distributor Venta Ltd. that belonged to the Russian company Katren.

“In accordance with the rulings of the Pechersky District Court of Kyiv, a 24% stake in the authorized capital of Venta Ltd., owned by Katren JSC (Russia), has been transferred to ARMA’s management. “The aforementioned asset is currently under ARMA’s management,” ARMA told Interfax-Ukraine.

ARMA notes that following a competitive selection process, an asset management agreement was concluded between ARMA and I.K.VEL LLC. At the same time, ARMA subsequently decided to unilaterally terminate the agreement due to information available at the time regarding a possible connection between “I.K.VEL” and individuals associated with the owners of the seized asset (JSC “KATREN” and the ultimate beneficiary of “Venta Ltd,” Oleksandr Voloshin).

However, in a decision by the Commercial Court of Kyiv dated April 22, 2026, in response to a lawsuit filed by “I.K.VEL,” the court concluded that there was insufficient evidence of such a connection.

The court also found that there were no legal grounds for rejecting the results of the tender for the management of the Russian share of “Venta Ltd.” and for failing to transfer the asset to the manager—the winning bidder.

As reported, in 2022, Venta. Ltd. (Dnipro), which was among the top three pharmaceutical distributors in Ukraine, transferred the corporate rights belonging to the Russian JSC “Katren” to the management of ARMA. According to the pharmaceutical distributor, the transfer of corporate rights took place on August 1 at the initiative of the company’s management and in cooperation with the Office of the Prosecutor General of Ukraine. The transfer of the Russian stake occurred pursuant to a court decision as part of criminal proceedings.

According to Venta.Ltd’s estimates, the company’s share of Ukraine’s pharmaceutical market stood at 10–11% as of early 2022; by the end of 2024, Venta.Ltd had reduced its net profit by 2.1% to UAH 187.134 million.

ARMA selected I.K.VEL LLC to manage the seized Russian stake in Venta.Ltd (24% of the company). The auction to select a manager for this stake was participated in by the Citizens’ Association “VIZAVI Rehabilitation Center,” which offered 0.01 hryvnia for the lot, I.K.VEL LLC (58,550 hryvnia), and Comfortna Apteka LLC (120,000 hryvnia).

I.K.VEL LLC is engaged in the retail sale of pharmaceutical products in specialty stores. According to the YuoControl system, the company’s current beneficiary is Mykyta Kholodov.

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Rain and temperatures up to 28°C forecast for Kyiv on Saturday afternoon

In Ukraine on Saturday, June 6, moderate rain—heavy in places—and thunderstorms are expected in the western regions during the day, as well as in the Zhytomyr, Kyiv, Vinnytsia, and Chernivtsi regions; the rest of the country will be mostly dry, according to the Ukrainian Hydrometeorological Center.

In Zakarpattia and Prykarpattia, there will be fog in some places at night and in the morning.
Winds will be variable, 3-8 m/s.

Temperatures at night will be 14-19°; during the day, 24-29°, and in the western regions, 20-25°.
In Kyiv, no precipitation is expected on Saturday night, with rain during the day. Winds will be variable, 3-8 m/s. Nighttime temperatures will range from 17-19°; daytime temperatures from 26-28°.

According to data from the Boris Sreznevsky Central Geophysical Observatory in Kyiv, on June 6, the highest daytime temperature was 32.0° in 1921, and the lowest nighttime temperature was 2.9° in 1933.
On Sunday, June 7, in Ukraine, except for the west and east, temperatures will be moderate; during the day in the Zhytomyr, Kyiv, Cherkasy, Vinnytsia, and Odesa regions, there will be heavy rain and thunderstorms in some areas.

Winds will be variable, 3-8 m/s.
Nighttime temperatures will range from 14-19°; in the west of the country, 10-15°; daytime temperatures will range from 24-29°; in the western regions, as well as in Zhytomyr, Kyiv, Cherkasy, Vinnytsia, and Odesa regions, 20-25°.

Rain is expected in Kyiv on Sunday. Winds will be variable, 3-8 m/s. Nighttime temperatures will be 17-19°; daytime temperatures will be 23-25°.

Metinvest Shipping reported net profit of UAH 32.9 mln in first quarter

Metinvest Shipping, the logistics division of the Metinvest Group, reported a net profit of UAH 32.945 million in January–March of this year, compared to a net loss of UAH 32.944 million during the same period last year.

According to the company’s interim report, which is available to the agency “Interfax-Ukraine”, revenue from ordinary activities for this period decreased by 5.1% to UAH 492.388 million.

Retained earnings as of the end of March amounted to UAH 1.525363 billion.

In 2025, the company reported a net profit of UAH 165.097 million, whereas in the previous year there was a net loss of UAH 67.393 million, while revenue from ordinary activities for the past year decreased by 8.1%—to UAH 2,290.835 million from UAH 2,492.714 million.

The number of employees at the end of 2025 was 263, and at the end of 2024—261.

The LLC ended 2024 with a loss of UAH 67.393 million, while in 2023 it amounted to UAH 729.472 million.

Metinvest Shipping LLC has been part of the Metinvest Group since 2006. The company has branches in Mariupol (operations temporarily suspended) and Odesa. The company’s activities cover the full range of freight transportation services: organization of road and rail transport, customs clearance, freight forwarding, ship agency services, and chartering of the maritime fleet.

Metinvest Holding LLC owns a 100% stake in Metinvest Shipping LLC.

The LLC’s authorized capital is UAH 25.012 million.

Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine—in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions—as well as in European countries. The holding’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.

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India’s GDP growth in January–March was nearly 8%

India’s economy grew by 7.8% in the fourth fiscal quarter (January–March) compared to the same period a year earlier, the country’s statistics office reported. According to revised data, GDP growth in the previous quarter was 8%, not 7.8% as previously announced.

Analysts surveyed by Trading Economics had forecast, on average, a slowdown to 7.2%.

According to final data, the Indian economy grew by 7.7% overall in the past fiscal year. An earlier report had indicated growth of 7.6%.

Earlier on Friday, the Reserve Bank of India lowered its forecast for India’s economic growth in the 2026–2027 fiscal year to 6.6% from the previously expected 6.9%. Growth of 6.6% is expected in the first fiscal quarter, 6.3% in the second, 6.5% in the third, and 6.8% in the fourth.

India’s GDP growth in January-March was nearly 8%

Wizz Air Threatens to Close Its Belgrade Hub Due to New Regulations

According to Serbian Economist, Hungarian low-cost carrier Wizz Air has stated that changes to Serbian aviation legislation could force the company to close its Belgrade hub as early as November 2026.

The carrier believes that the new rules could restrict competition in favor of Air Serbia and contradict Serbia’s obligations within the European Common Aviation Area.

Wizz Air has been operating in Serbia since 2010. According to the company, it has carried over 14 million passengers during this time and currently serves 29 routes to 26 European cities. If the base is closed, more than 150 jobs in aviation and related jobs in tourism, the hotel industry, and airport services will be at risk.

The Serbian aviation regulator rejects the allegations. The Directorate of Civil Aviation of Serbia states that no airline is prohibited from operating flights between Serbia and the EU, and that the new rules merely clarify the regulatory framework and apply equally to all carriers.

https://t.me/relocationrs/2960

 

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KAN Development has opened STEAM School at Respublika residential complex

KAN Development, in partnership with the “A+” Educational Holding, has opened a large-scale, innovative educational complex at the Respublika residential complex, according to the developer’s press office.

Respublika STEAM School is a modern school-style campus with infrastructure comparable to that of a university: a three-story atrium with an amphitheater, laboratories, a makerspace, a swimming pool, sports halls, a media library, open spaces for teamwork, and a modern shelter. The building covers an area of 26,300 square meters and is designed to accommodate 1,120 students.

The A+ Educational Holding brings together educational projects offering preschool, school, and extracurricular education for children aged 1 to 19. As reported, KAN Development is investing $80 million in the construction of a school in the “Respublika” residential complex and a school on McKenna Street in Kyiv. In total, the educational institutions are designed to accommodate 2,000 students. Respublika STEAM School will become the holding’s 16th educational institution.

KAN Development was founded in 2001. The company’s portfolio includes Ocean Plaza, Respublika Park, Tetris Hall, Central Park, Comfort Town, “Faina Town,” Respublika, IQ Business Center, and 101 Tower. Over more than 20 years in the market, KAN Development has created over 3 million square meters of residential, retail, and commercial real estate. The company is also actively developing its own network of educational institutions, “A+”.

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