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 Inzhur Investment Group, which includes an asset management company with three investment funds, an investment firm, a securities broker, and a securities custodian, plans to increase its assets under management from the current 9.36 million UAH to 100 billion UAH over the next five years, said the group’s founder and head, Andriy Zhurzhii.
“100 billion is our dream and our plan. That’s for the next five years. In other words, we’ll end this year with more than 10 billion—10 to 11 billion in assets under management. And over the next five years, we’ll reach 100 billion based on today’s figures. In other words, if there are any devaluation processes, then, of course, we’ll get there faster,” he said during the “Forbes Business Breakfast with Fedorin” on Wednesday, adding that there was a day when the group managed to attract 500 million UAH at once.
According to him, the group has attracted 131,560 investors to its funds, with a minimum investment of 11 UAH.
“We’ve set ourselves the goal of reaching 1 million investors in ‘Inzhur’ by the end of 2028. We plan to end this year with 150,000–200,000 investors: we’re already on track for 170,000, and we’ll have to work hard to reach 200,000, but the team is doing its best,” noted Zhurzhii.
In his view, to increase the number of investors to 2–3 million, it is necessary to invest more in the community and in its education and experience; therefore, the group launched an educational program with Prometheus, which attracted 14,000 registrants in just one week.
The head of “Injur” also expressed the opinion that the Ukrainian market is not yet ready for stocks.
“We will still grow through some form of debt instruments—bonds or quasi-debt instruments, when we’re talking about funds. Stocks will be the next stage,” Zhurzhii believes.
asset, FUND, Injur, INVESTMENT, INVESTOR
Taiwan Cement Corporation (TCC Group) intends to acquire 100% of the shares in the Ukrainian cement producer PJSC “Ivano-Frankivskcement” (“IFCEM”), the company’s press office reported.
“The partnership will combine IFTSEM’s leading position in the Ukrainian market, its modern production facilities, long-standing industrial traditions, and strong team with TCC’s global experience, technologies, and investment capabilities. It lays the foundation for the group’s further development and its active participation in Ukraine’s large-scale recovery and the deepening of economic integration with Europe,” according to a statement on the “Ivano-Frankivskcement” website.
The relevant agreement will be concluded between the majority shareholder of PrJSC “Ivano-Frankivskcement,” CemInWest S.A. (Switzerland), together with the owners of the affiliated companies Ivano-Frankivskdakh LLC, Krugips LLC, Krumix LLC, and TCC Group EMEA Holdings B.V. (Netherlands)—a subsidiary of TCC Group Holdings Co., Ltd.
It is noted that the completion of the transaction is subject to obtaining the necessary antitrust approvals and other regulatory clearances in the relevant jurisdictions, as well as the fulfillment of standard closing conditions.
According to Mykola Kruts, Chairman of the Management Board and member of the Supervisory Board of “Ivano-Frankivskcement,” he will remain a member of the company’s board of directors in the coming years.
“Today, the company is entering a new phase of its development. The partnership with a global strategic investor from Taiwan opens up new opportunities for IFCEM in terms of investment, technological development, and further strengthening of its position. In the coming years, I will remain a member of the board of directors to ensure continuity, stability, and the company’s further development,” the company quotes Krut as saying in its statement.
The preliminary value of the deal is approximately 750 million euros, according to “Forbes Ukraine,” citing Focus Taiwan.
PJSC “Ivano-Frankivskcement” manufactures cement, roofing materials, concrete and reinforced concrete products, and dry construction mixes. Its production capacity stands at 4.3 million metric tons of cement per year. Approximately 2,500 people are employed at the group’s facilities.
Before the start of the full-scale war, NEQSOL Holding was close to acquiring “Ivano-Frankivskcement,” but subsequently withdrew from the deal.
According to data from the YouControl analytical system, in 2025, Ivano-Frankivskcement increased its net profit by a factor of 1.4 compared to the previous year, to 4.2 billion UAH, and its net revenue by 20.3%, to 16.2 billion UAH. In the first half of 2026, net profit decreased by a quarter compared to the same period in 2025, to 1.4 billion UAH, while net revenue fell by 4.2%, to 7.1 billion UAH. The company’s total assets amounted to 14.9 billion UAH.
TCC Group Holdings Co., Ltd. is a global industrial group based in Taiwan and one of the world’s largest cement producers. The group operates more than 40 production sites, with a combined cement production capacity exceeding 112 million metric tons per year, and employs 13,800 people. TCC is also developing initiatives in green energy, energy storage systems, and advanced materials. TCC has a significant presence in Europe and Africa, particularly in Portugal, Turkey, Spain, the United Kingdom, the Netherlands, France, and Italy.
AGREEMENT, CEMENT, INVESTMENT, IVANO-FRANKIVSKCEMENT, TCC Group
Indonesia is ready to expand practical cooperation with Ukraine, particularly in trade, investment, critical minerals, science, and the country’s future recovery, said Arif Muhammad Basalamah, Ambassador of the Republic of Indonesia to Ukraine.
“Indonesia is ready to explore practical areas of cooperation that can contribute to recovery and reconstruction, while opening up new opportunities for our bilateral partnership,” he said during a diplomatic reception in Kyiv marking the 81st anniversary of Indonesia’s independence.
The reception took place on September 22 and was attended by representatives of the Ukrainian government, the diplomatic corps, international organizations, the business community, and the Indonesian community. In his speech, the ambassador specifically congratulated Andriy Dronyuk, Ukraine’s Deputy Minister of
Foreign Affairs for Digital Development, Digital Transformation, and Digitalization, and Artem Kunaev, chair of the Ukraine-Indonesia Interparliamentary Friendship Group.
Basalamah noted that, despite the war, political dialogue between the countries remains active, and cooperation continues to expand. At the same time, bilateral trade in 2025 fell to $492.6 million compared to a peak of $1.45 billion in 2021.
“We see opportunities to develop new areas of cooperation and to more fully realize the potential of a mutually beneficial economic partnership,” the ambassador emphasized.
According to him, one such new area could be critical minerals and rare earth elements, where the parties see opportunities for research, technological cooperation, and future business projects. The Indonesian side is also interested in more active interaction between businesses from both countries in trade, investment, and joint production.
The ambassador invited Ukrainian companies to participate in Trade Expo Indonesia 2026, which will take place October 14–18 and is expected to serve as a platform for establishing contacts with Indonesian exporters and potential investment partners.
Basalamah identified tourism as another area for expanding ties. According to him, more than 18,000 Ukrainian citizens had already visited Indonesia by 2026.
“We hope that as transportation links improve and when circumstances permit, more Ukrainians will have the opportunity to discover Indonesia—its natural beauty, cultural heritage, and diverse culinary traditions,” the diplomat said.
The ambassador also highlighted the intensification of educational and scientific ties. He noted that in 2026 alone, the Indonesian Embassy in Kyiv facilitated the signing of four agreements between universities in Ukraine and Indonesia. Ukrainian students can also study in Indonesia through the Darmasiswa and KNB Scholarship programs.
In addition, Indonesia’s National Agency for Research and Innovation and Ukraine’s National Antarctic Scientific Center recently signed an agreement on cooperation in the field of Antarctic and tropical research. The document opens up opportunities for joint research projects and scientific exchange.
Speaking about the war, Basalamah noted that Indonesia continues to advocate for the use of dialogue and diplomacy to achieve lasting peace, as well as adherence to the principles of the UN Charter.
“Peace means that people can live in safety, rebuild their communities, provide education for their children, and look to the future with hope,” he said.
Diplomatic relations between Ukraine and Indonesia were established on June 11, 1992, several months after Indonesia recognized Ukraine’s independence on December 28, 1991.
The Embassy of the Republic of Indonesia in Kyiv began operations in January 1994. Currently, Arif Muhammad Basalamah serves as Indonesia’s Ambassador Extraordinary and Plenipotentiary to Ukraine.
The Embassy of Ukraine in Jakarta was opened in the second half of the 1990s; the official opening of the diplomatic mission took place on May 16, 1997. Currently, the position of Ambassador Extraordinary and Plenipotentiary of Ukraine to Indonesia is vacant. Following the conclusion of Vasyl Hamyanin’s mission, the
Ukrainian Embassy in Jakarta has been headed by Yevheniia Shynkarenko, Chargé d’Affaires ad interim of Ukraine. As of September 2026, she continued to serve as the head of the Ukrainian diplomatic mission in Indonesia.
The Lviv Ventilation Plant (LVP) has completed construction of the second phase of its production facilities and plans to install equipment by the end of 2026 that will allow the plant to double its production volume, according to Dmytro Kysilevsky, deputy chair of the parliamentary committee on economic development.
“The Lviv Ventilation Plant has completed construction of the second phase of its production facilities. The equipment has already been purchased and, according to the plan, will be installed by the end of 2026. The investment in the plant’s second phase totaled approximately $1.5 million,” he wrote on Facebook on Wednesday.
Kisilevsky noted that to implement the project, the plant utilized tools from the “Made in Ukraine” policy, specifically the “5-7-9” affordable loan program, as well as a grant for equipment for the processing industry. In addition, the plant is preparing to participate in the state program that compensates 15% of the cost of Ukrainian-made equipment.
According to the MP, in 2025, production volumes at the Lviv Ventilation Plant increased by 30% and have remained at the same level this year.
“The company has a full production cycle and currently processes about 55 metric tons of sheet metal per month. Investments totaling $2.5 million are planned for the construction of the plant’s third phase,” he added.
Kysilevsky also noted that the plant’s investors previously engaged in importing ventilation equipment but have now shifted their focus to developing production in Ukraine—the launch of the plant’s first phase, with investments of approximately $1 million, took place in 2022, a few months after the full-scale invasion.
The Lviv Ventilation Plant manufactures air ducts, sound absorbers, and components for ventilation systems designed for use in industry, retail, hotels, and business centers.
According to data from YouControl, in 2025 the plant increased its net sales revenue by 20% compared to the previous year—to 50.1 million UAH—while net profit decreased by 34.6%—to 1.6 million UAH. In the first half of this year, net revenue amounted to 19.6 million UAH, and net profit was 0.71 million UAH.
Serhiy Vozgomenchuk, a resident of the Rivne region, owns 100% of the company’s shares and serves as its CEO.
