Business news from Ukraine

Business news from Ukraine

Serbia accelerates Trump’s son-in-law’s hotel project on site of NATO-bombed General Staff Headquarters

According to Serbian Economist, the Serbian parliament has passed a special law that accelerates preparations for the development of the site of the former Yugoslav National Army General Staff Headquarters in central Belgrade, which was damaged by NATO strikes in 1999. The developer is Affinity Global Development, an investment company founded by US President Donald Trump’s son-in-law Jared Kushner.

The project, worth about $500 million, involves the construction of a hotel, apartments, offices, and retail space, as well as a memorial space for the victims of the bombing.

A 99-year lease agreement with the Serbian government was signed in May 2024. In November 2024, the site was stripped of its protected cultural heritage status, paving the way for the project to go ahead. The adopted lex specialis simplifies and speeds up the issuance of permits and other administrative procedures, the authorities noted.

The opposition and relevant organizations criticize the decision, citing the cultural value of the complex and legal risks. Europa Nostra has included the General Staff Headquarters in its list of the seven most vulnerable European heritage sites of 2025. Radio Liberty notes that the law was passed with the votes of the ruling party, despite protests and an investigation into possible falsification of the document used to remove the protective status.

Affinity Global Development’s public statements and official communications do not mention the hotel brand, number of rooms, number of floors, room area, parking, or exact completion date. International agencies limit themselves to describing the functional mix without specifications. When official materials on the TEP and branding appear, the editorial staff of Serbian Economist will clarify the data.

The government is promoting the project as an investment and revitalization of Belgrade’s central location. Critics believe that the demolition and new construction will damage the modernist legacy of architect Nikola Dobrovic and the public memory of the events of 1999.

https://t.me/relocationrs/1705

 

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Zohran Mamdani elected mayor of New York, Trump threatens to cut funding

34-year-old New York State Assemblyman Zohran Mamdani has won the New York City mayoral election, becoming the first Muslim to lead the city and the youngest mayor in more than a century. The victory has been confirmed by leading media outlets and agencies; His opponents were independent candidate Andrew Cuomo and Republican Curtis Slyva.
In his first speech after the results were announced, Mamdani said he would make New York a city for immigrants and vulnerable groups, naming affordable housing, transport and raising the minimum wage as his priorities.
He also publicly addressed Donald Trump. Donald Trump had previously called for a vote against Mamdani, supporting Cuomo, and threatened to limit federal funding for New York in the event of a victory for the democratic socialist; after the results were announced, he sharply criticised the mayor on social media.
Political analysts note that the victory of the left-wing candidate in the largest city in the United States and the response of the Republicans will indicate a further intensification of the confrontation between the two main parties at the federal and municipal levels in the run-up to the next electoral cycle.

 

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Trump says he will not meet with Putin until he thinks there is deal on Ukraine

U.S. President Donald Trump said on Saturday he does not plan to meet with Russian President Vladimir Putin until he thinks a deal is in place to secure peace between Russia and Ukraine.

“You have to know that we’re going to make a deal, I’m not going to be wasting my time,” Trump told reporters in Doha.

Source: https://www.reuters.com/world/europe/trump-says-he-will-not-meet-with-putin-until-he-thinks-there-is-deal-ukraine-2025-10-25/

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Trump to visit Japan from October 27 to 29

US President Donald Trump will visit Japan from October 27 to 29 and hold talks with new Prime Minister Sanae Takaichi, Japanese Cabinet Secretary Minoru Kihara said on Wednesday.

“President Trump’s visit will provide an extremely important opportunity to further strengthen the US-Japan alliance,” Kihara said, according to Kyodo.

He expressed hope that Trump’s trip would establish a personal relationship of trust between him and Prime Minister Takaichi and ensure the joint implementation of the concept of a “free and open Indo-Pacific region.”

According to Kyodo sources, Takaichi plans to discuss with Trump a joint response by Japan and the US to the growth of China’s military presence in the East China Sea and South China Sea, as well as North Korea’s missile and nuclear programs. Other topics will include US-Japan trade, the investment agreement signed last July, and Japan’s defense spending.

Trump is expected to meet with Emperor Naruhito of Japan on Monday, with Takaichi on Tuesday, and to visit the US naval base in Yokosuka.

Trump last visited Japan in 2019. This time, before traveling to Tokyo, Trump is expected to attend the ASEAN summit in Malaysia and then head to the APEC summit in South Korea, where he may meet with Chinese President Xi Jinping.

In turn, Japan’s new Foreign Minister Toshimitsu Motegi said he would coordinate with Washington on the implementation of the US-Japan trade agreement, under which goods from Japan are subject to a 15% tariff.

The Japanese parliament elected Takaichi, the head of the ruling Liberal Democratic Party, as the country’s prime minister the day before.

According to Kyodo, 64-year-old Takaichi is known for her “hardline views on security.” The former interior minister advocates, in particular, revising Article 9 of the 1947 Japanese constitution, which renounces militarism.

Takai is considered a supporter of far-right and nationalist views and is a member of Japan’s largest conservative and nationalist non-governmental organization and lobbying group, Nippon Kaigi. She is vice-chair of the parliamentary conference on the restoration of Shinto shrines and the promotion of moral education. She has repeatedly visited the Yasukuni Shinto shrine, a symbol of Japanese militarism: visits by high-ranking Japanese officials to the Yasukuni shrine traditionally provoke a sharp reaction in Beijing, Seoul, and Pyongyang and are seen as an insult to countries that suffered from Japanese occupation. She has also been critical of China’s economic policies and has advocated for reducing economic dependence on China.

 

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Orbán ready to host Trump-Putin meeting

Hungarian Prime Minister Viktor Orbán has said he is ready to host a meeting between US President Donald Trump and Vladimir Putin in Budapest, Hungary.

“The planned meeting between the US and Russian presidents is great news for peace-loving people around the world. We are ready!” Orbán wrote on social media on Thursday.

As reported, Trump spoke with Vladimir Putin on Thursday, calling it a very productive conversation, and announced the planned meetings—a personal meeting in Budapest and a meeting between advisers beforehand. He also said that during a planned meeting on Friday with Ukrainian President Volodymyr Zelensky in the Oval Office, the parties will discuss this conversation with Putin “and much more.”

At the same time, Trump said that during the conversation with Putin, he devoted a lot of time to discussing “trade between Russia and the US after the end of the war with Ukraine.”

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Beijing considers Trump’s tariff threats mistake

Beijing urges Washington to adhere to previously reached consensuses and considers President Donald Trump’s threats of new tariffs a mistake, the Chinese Ministry of Commerce said.

“China urges the United States to immediately reconsider its mistaken actions, adhere to the important consensuses reached during telephone conversations between the two heads of state, safeguard the hard-won results of consultations, and continue to use the mechanism of China–US trade and economic consultations,” the statement published on the ministry’s website said.

Beijing emphasized that it stands for resolving differences through dialogue, and if Washington insists “on the wrong path,” China will take measures to protect its legitimate rights and interests.

“Deliberate threats of high tariffs are the wrong way to build relations with China,” the ministry stressed. The agency also noted that US statements about possible new tariffs are an example of double standards.

On Saturday night, Trump announced that he intends, starting November 1, “or maybe even earlier,” to impose additional 100% tariffs on goods imported from China.

“Starting November 1, or perhaps earlier, depending on China’s actions, the United States will impose 100% tariffs in addition to the existing ones. In addition, starting November 1, we will implement export control measures for any vital software,” he wrote on Truth Social.

Trump explained that he made this decision because China “declared that starting November 1 it would implement serious export control measures on almost all products manufactured in the PRC.” “This will affect all countries and is clearly a plan that China has been preparing for years,” the US president said.

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