Business news from Ukraine

CYPRUS SIMPLIFIES ENTRY FOR UKRAINIANS

Since July 1, Cyprus has canceled the requirement to provide a PCR test for entry into the country, as well as self-isolation or quarantine for Ukrainian citizens who have a valid vaccination certificate, the Cyprus Embassy in Ukraine said.
“From July 1, 2021, vaccinated passengers who have a valid COVID-19 vaccination certificate arriving in Cyprus from Ukraine, regardless of their citizenship, are exempt from laboratory test and self-isolation or quarantine obligations, subject to the following conditions: they have a valid vaccination certificate issued by Ukraine; they received one of the vaccines approved by the European Medicines Agency (Pfizer/BioNTech, AstraZeneca, Moderna, Janssen), or Sputnik V, or Sinopharm (BBIBP COVID-19) vaccine as on May 21, and completed the vaccination scheme,” the Embassy of Cyprus in Ukraine said in the statement on Tuesday.

CYPRUS OFFICIALLY INCLUDES UKRAINE IN LIST OF COUNTRIES FROM WHICH ENTRY ALLOWED

Cyprus has included Ukraine in the list of countries of the “red category,” from which it will be allowed to enter the country if a number of conditions are met already from April 1, 2021.
According to a document released on the website of the Government of Cyprus, passengers arriving from countries of the “red category” must undergo a laboratory analysis by PCR within 72 hours before departure, and then undergo another laboratory test upon arrival in the Republic of Cyprus.
It is noted that such people should remain in self-isolation until the test results are received.
In addition, from countries of the “red category” can enter Cyprus after passing at their own expense laboratory tests only upon arrival in Cyprus, Cypriot citizens and members of their families (foreign spouses and their minor children); persons residing in the territory of the republic legally; persons entitled to enter the Republic in accordance with the Vienna Convention.
Those who fall under these categories must remain in mandatory self-isolation for 72 hours upon arrival and after 72 hours they must undergo another PCR test at their own expense. If the retest is negative, they can end the isolation, according to the document.

SINCE MARCH 1 CYPRUS INCLUDES UKRAINE IN ‘GREY ZONE’

Since March 1, Cyprus has included Ukraine in the list of countries of the “grey one,” entry from which is allowed only to citizens of Cyprus and family members, as well as residents and holders of special permits, the consular section of the Ukrainian Embassy in Cyprus said.
“Since March 1, 2021, the distribution of countries of the world by categories has been applied in Cyprus. As of March 1, Ukraine belongs to the ‘grey zone’ (categories will be reviewed weekly). Follow further changes,” the consular department said on Facebook on Monday.
According to the information of the embassy, entry from the countries of the “grey zone” is only allowed to citizens of Cyprus permanently residing in the Republic of Cyprus, their foreign spouses and minor children, residents of the Republic of Cyprus, persons who are allowed to enter in accordance with the Vienna Convention, regardless of their citizenship, who have have a special entry permit from the government of Cyprus; citizens who have received special permission from the Government of Cyprus to enter Cyprus.

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LEADING PRODUCER OF CEREALS IN UKRAINE DECIDES TO CHANGE PLACE OF REGISTRATION FROM CYPRUS TO POLAND

The Board of Directors of the Cereal Planet Group, a leading producer of cereals in Ukraine, has approved the decision to change the place of registration from Cyprus to Poland, the company has reported on the Warsaw Stock Exchange (WSE) on Friday.
According to the report, shareholders at an extraordinary meeting on August 12 made this decision. Now Cereal Planet is going through the registration process in the relevant authorities of Poland. The plans are to register a holding company of the group called Cereal Planet S.A. in Warsaw.
Cereal Planet produces weight grains for B2B under the OLIMP trademark – four product lines: Bulgur, Ridlan, Mayfayna, Zlatokositsa, and under the Lyuba Ferma trademark – animal feed mixtures. It exports cereals to more than 30 countries.
Cereal Planet, according to the company, occupies up to 10% of the Ukrainian cereal market. The monthly production volume is 4,500-5,000 tonnes.
The owners of the group are Anatoliy and Oleksandr Vlasenko (33.54% and 29.93% respectively), Oleksandr Slavhorodsky (29.93%), and Ihor Dobruskin (5.5%).

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CYPRUS AGAIN LEADER IN FOREIGN DIRECT INVESTMENT TO UKRAINE, FOLLOWED BY THE NETHERLANDS AND RUSSIA

Foreign direct investment (FDI) in Ukraine as equity capital as of July 1, 2019, was $33.724 billion, which was 2.6%, or $0.84 billion more than in the beginning of the year, the State Statistics Service of Ukraine said. According to the data, the inflow of FDI for the sixth months of 2019 totalled $1.256 billion, $728.9 million was written off, other changes of the cost of the corporate capital of nonresidents totaled $309 million with exchange rate differences of $520.8 million.
According to previously published data, first quarterly inflow of FDI in Ukraine grew by $45.5 million.
Cyprus was the leader in FDI surplus in the first half of 2019 with $388.8 million, followed by the Netherlands ($295.1 million), Russia – 145.5 million, and Switzerland ($100.3 million).
Meanwhile, FDI from Hungary decreased $250.6 million.
Nonresidents invested $318.5 million in financial and insurance activities, $184.9 million and $176.4 million in extractive and processing industries respectively, $113.8 million in wholesale and retail trade, $122.6 million in transactions with property, $128.4 million in science and technical activities.
Although there was a $270.4 million drop in FDI in the field of administrative and supportive service for the mentioned period.

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VACANCY RATE OF SHOPPING AND ENTERTAINMENT CENTERS MANAGED IN UKRAINE BY ARRICANO (CYPRUS) IS 0.1%

An average vacancy rate across portfolio of shopping and entertainment centers in Ukraine managed by the Arricano Real Estate Plc (Cyprus) is 0.1% through January-June of 2019, according to the company’s report on London Stock Exchange (LSE). “In the first half of 2019, the average vacancy rate of shopping malls in Kyiv is 5.5%, and in our shopping malls, Kyiv inclusive, this rate is several times less. Going into the second half of the year, Arricano has recorded the lowest vacancy rates since 2012. I believe this is a result of the systematic work, innovative approaches and competent management in recent times,” said Arricano CEO Mykhailo Merkulov.
In particular, for the first half of 2019, Sun Gallery (Kryvyi Rih) and City Mall (Zaporizhzhia) recorded a 100% occupancy, whilst the RayON and Prospekt shopping malls (both located in Kyiv), recorded vacancy rate of 0.08% and 0.17% respectively.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.

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