Business news from Ukraine

Business news from Ukraine

At Kyiv University of Law, Questions Arise About New Management Model Ahead of Rector Election

At Kyiv University of Law of the National Academy of Sciences of Ukraine, a discussion has arisen ahead of the rector election regarding a possible change to the university’s management model and the creation of a new position of university president, according to the Anti-Corruption Business Front (ACBF).

According to the public organization “Anti-Corruption Business Front” and Ukrainian media, the election for rector of the Kyiv University of Law of the NAS of Ukraine is scheduled to take place on July 2, 2026. The current rector, Yuriy Boshitsky, has led the university for more than two decades, and after completing his second term, his powers were extended by a decision of the Presidium of the National Academy of Sciences of Ukraine for the duration of martial law.

The authors of the article note that, on the eve of the election, the position of university president appeared in the draft of the new charter of the State University of the National Academy of Sciences of Ukraine. It is precisely this, in their opinion, that raises the question: Is an additional center of influence being formed at the university alongside the future rector?

According to the publication, the draft charter stipulates that the university president may participate in shaping the institution’s development strategy, coordinate the activities of separate structural units, participate in property management matters, represent the university in the sphere of international cooperation, and serve ex officio on the academic council.

The media, citing the APF, note that the position of university president is not prohibited in and of itself and may serve a representative or advisory role at various institutions. However, risks arise if such a position is granted actual managerial authority and can influence the institution’s strategy, assets, international relations, and internal policies.

The reports also state that the revised charter was approved at general staff meetings concurrently with the nomination of Sergey Matveev, vice rector for academic affairs, for the position of rector. The authors of the publication emphasize that the candidate’s participation in the election is not in itself a violation; however, combined with the creation of the position of university president, this raises questions about the competitiveness of the election and the genuine renewal of the university’s leadership.

A separate section of the publication is devoted to the Rivne Institute of the State University under the National Academy of Sciences of Ukraine. The article discusses the need to investigate the use of the premises of this separate unit of the state university, including the grounds for the possible use of certain areas for purposes other than the educational process. The APF emphasizes that these facts require investigation and does not claim that they have been proven.

The civil society activists’ publications also mention criminal proceedings registered in 2024 on grounds of abuse of power or official position. According to APF, there is no information in open sources regarding anyone being notified of suspicion or the conclusion of the investigation.

The authors of the article believe that the situation at the Kyiv University of Law of the National Academy of Sciences of Ukraine is significant not only for this single educational institution, as it touches on the broader issues of leadership turnover at state universities, transparency in asset management, the role of the founding body, and the limits of university autonomy.

For the higher education system, this story could serve as a test case: can a state university’s charter establish an administrative position that effectively influences key decisions but is not subject to the rector’s election procedure and does not fall under the same term limits for holding a leadership position?

The Kyiv University of Law of the National Academy of Sciences of Ukraine was established in 1995 on the basis of the V.M. Koretsky Institute of State and Law of the National Academy of Sciences of Ukraine. The university is a state institution of higher education subordinate to the National Academy of Sciences of Ukraine and specializes in training professionals in the fields of law and international law.

Source:

https://apf.org.ua/yak-u-kyivskomu-universyteti-prava-mozhe-narodytysia-novyi-tsentr-vlady/

https://lenta.ua/yak-u-kiyivskomu-universiteti-prava-mozhe-naroditisya-noviy-tsentr-vladi-194784/

https://www.bagnet.org/news/society/1400158/yak-u-kiyivskomu-universiteti-prava-mozhe-naroditisya-noviy-tsentr-vladi

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INSURANCE COMPANY ARSENAL WILL INCREASE CHARTER CAPITAL TO UAH 202.5 MLN

The shareholders of Arsenal Insurance (Kyiv) insurance company at a meeting on June 26 decided to increase the charter capital of the company from UAH 121.5 million to UAH 202.5 million via a closed additional placement of shares.
According to information in the publicly available database of the National Securities and Stock Market Commission of Ukraine, 120,000 shares with a nominal value of UAH 675 per share will be additionally sold for a total of UAH 81 million.
The report also notes that the received financial resources in the form of cash will be placed on current accounts and bank deposits in the ratio of 30% to 70%. The shares of the company, on which the decision on the issue was made, do not provide for the possibility of conversion.
As reported, the company’s shareholders at a meeting on April 24, 2020 considered the issue of increasing the charter capital of the company from UAH 77.4 million to UAH 121.5 million by increasing the nominal value of shares from UAH 430 to UAH 675 (for one ordinary registered share) due to sending part of profit to the charter capital.
Arsenal Insurance is among the top three largest insurance companies in Ukraine and is number one among insurers with Ukrainian capital. Every day the company makes over UAH 2 million of insurance payments. The partners of the Ukrainian company are the leading European reinsurers: HannoverRe, PolishReinsuranceCompany, SCOR SE, Gen.
According to the information on the company’s website, chairman of the board Serhiy Avdeyev owns 24.5% of Arsenal Insurance, Maksym Tuz owns 21%, Kostiantyn Tuz some 9%, Oleksandr Solop holds 17.5%, Anatoliy Solop 12.51%, Hennadiy Moldavsky 9.99%, and Maryna Avdeyeva some 5.5%.

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FIRST AFTER CORONAVIRUS LOCKDOWN CHARTER FLIGHT DEPARTS FROM KIEV TO ALBANIA

The first after the coronavirus lockdown charter flight, carried out by JONIKA Airlines, has departed from the Kyiv International Airport to Tirana, Albania, with Ukrainian tourists on board.
“Albania is the first country to receive tourists from Ukraine. Today, on June 26, the first charter flight has departed from Ukraine’s Kyiv Airport following the resumption of air traffic with other countries of the world,” the airport said on its Facebook page.
According to the message, the plane took off from Kyiv at 10:00.

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TURKEY REMAINS MOST POPULAR IN NUMBER OF CHARTER FLIGHTS FROM UKRAINE

Turkey’s resorts remain most popular in the number of charter flights from Ukraine in the 2018 tourist season, and around 80 charter flights to this country is serviced from Ukrainian airports every week.
Analysts from TripSee online service told Interfax-Ukraine that the share of charter flights to Turkey in the 2018 tourist season is 72-75% of all charter programs of tour operators working in Ukraine.
About 15-20% of the charter programs of Ukrainian tour operators are flights to Egypt, then Greece, Bulgaria and Tunisia.
Analysts of TripSee also said that in 2018, new charter destinations for the resorts of Italy – to Calabria and Ancona, as well as to the Peloponnese Peninsula in Greece – were launched from Ukraine.
“Only one operator has several flights a day to Turkey, so the client can choose the most convenient time for departure. In Europe, this year there is also a more extensive flight program. The cost of tours has increased, but insignificantly. The market has hot tours and tours for later dates,” the TripSee analysts said.
Commenting on the pace of prices for package tours in the summer season of 2018, they said that prices for tours to Turkey start from UAH 7,000 all inclusive, Greece – from UAH 10 thousand per person with breakfasts, to Spain – from UAH 12 thousand with breakfasts and dinners.
At the same time, the analysts from TripSee said that, as before, most customers are looking for hot tours, especially to Turkey, but in the season of 2018 there is a noticeable upward pace in earlier purchases.

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