Business news from Ukraine

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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NEW PRESIDENT OF UKRAINE DISMISSES AMBASSADORS TO 11 COUNTRIES INCLUDING U.S., CYPRUS, ARGENTINA, VATICAN

President of Ukraine Volodymyr Zelensky, by his decrees, has dismissed Ukrainian ambassadors in 11 countries. Presidential decrees dismiss Valeriy Chaly from the post of Ukrainian ambassador to the U.S., to Antigua and Barbuda and Trinidad and Tobago (part-time), Ambassador of Ukraine to Armenia Petro Lytvyn, and Ambassador to Turkmenistan Valentyn Shevaliov, the official website of the president reported.
Ambassador of Ukraine to the Republic of Cyprus Borys Humeniuk, ambassador to Argentina and part-time to Paraguay, Uruguay and Chile, Yuriy Dudin, were dismissed.
Ambassador to Vietnam and part-time to Cambodia, Oleksiy Shovkoplias, ambassador to Morocco Yaroslav Koval, and ambassador to Jordan Serhiy Pasko, were also dismissed.
Zelensky fired ambassador of Ukraine to Nigeria and part-time to Ghana, Benin and Sierra Leone, Valeriy Aleksandruk, and ambassador to South Africa Taras Kuzmych.
In addition, Ambassador of Ukraine to Vatican and part-time to the Sovereign Military Hospitaller Order of Saint John of Jerusalem, of Rhodes and of Malta, Tetiana Izhevska, was also dismissed.

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STATE-OWNED PRIVATBANK ACCUSES PWC (CYPRUS) AND PWC (UKRAINE)

Public joint-stock company PrivatBank (Kyiv) is accusing PricewaterhouseCoopers Limited (Cyprus) and PricewaterhouseCoopers (Ukraine) LLC of violation of their commitments during the audit of the financial reports of the bank for 2013-2015. PrivatBank filed a claim to the regional court of Nicosia (Cyprus) against these companies, seeking $3 billion of compensation of losses caused by their actions, the press service of the bank told Interfax-Ukraine.

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