Business news from Ukraine


Ukrainian low cost airline SkyUp (Kyiv) on October 17 launched Kyiv-Lviv flights.
The press service of the airline reported that before October 26, 2019, the flights will be operated twice a week – on Thursdays and Sundays. From October 27, the number of flights will increase to four per week – on Mondays, Tuesdays, Fridays and Sundays. The cost of a ticket without baggage starts from UAH 508.
“Today, we have launched flights between two Ukrainian cities with million population – Kyiv and Lviv… We will continue further developing internal flights, because this is one of the priority areas of our strategy,” the press service of SkyUp airlines said, citing CEO Yevhen Khainatsky.
In addition, SkyUp said that also on October 17, 2019, Kharkiv-Lviv flights were launched.
SkyUp Airlines LLC was registered in Kyiv in June 2016. The founder is ACS-Ukraine LLC of Tetiana and Yuriy Alba, who also own JoinUp! tour operator.

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On November 8 and 9, the capital of Ukraine will host the Kyiv International Economic Forum (KIEF) that for the sixth consecutive year brings together well-known world economists, recognized businessmen, representatives of the Ukrainian government and highly respected economic experts.
The main discussion issue of the Forum 2019 is the future in a changing world. From business cases to visionary ideas – KIEF’s speakers will talk about rapid changes in the technology-driven economy. Entrepreneurs, top managers, analysts and strategists of companies, as well as heads of international organizations will answer the main question: what the fourth industrial revolution is and how to get prepared for it.
Why visit the KIEF 2019?
The KIEF is the main platform for business people, economists, scientists and investors to discuss global trends, shape the 2020 development vector, establish new business contacts and strengthen partnerships.
This year at the Forum, speakers will unveil the concepts of doing business in the face of climate change as well as the mechanisms for effectively managing natural disasters under their direct influence on the economy. You will learn how to prepare your business for the effects of climate change.
Speakers from global financial institutions, who have the latest information about the world’s economy, will report about the risks and consequences of the global crisis. You will be able to get ready for the next stage of development of the financial system.
The below speakers will share their vision of the future for the financial world system:
Robert Koopman, the Chief Economist of the World Trade Organization;
Giovanni Salvetti, the Managing Director of the Rothschild International Banking Group, CEE Coordinator;
Vazil Hudák, the Vice President of the European Investment Bank;
Johan Eliasch, a Swedish billionaire businessman, the Chairman and CEO of Head.
Also at the Forum, the representatives of global companies with millions in revenue, investment funds and international banks will speak about their business cases on raising capital. You will learn about new approaches to attracting foreign direct investment for business development.
In addition to educational goals, one of the main KIEF’s goals is to enhance the investment attractiveness of Ukraine. In order to introduce the business opportunities of Ukraine, potential foreign investors were invited to the Forum.
A permanent strategic partner of the Forum is the holding company UFuture, which incorporates companies and social projects of Vasyl Khmelnytskyi.
Vasyl Khmelnitsky, the initiator of the Forum, commented on the idea of creating and holding the Forum: “We live in the days of global and very rapid changes. They inspire and cause concern at the same time. Ukraine faces a choice: to stick to a fragile stability or to move fearlessly towards innovations. It is today when we can make a quantum leap in development – and for this, we require knowledge, cooperation and decisive actions. I see the success of our common future in the synergy of the modernized public sector, the energy of entrepreneurs and the talent of scientists. We must unite for the sake of the global goals, which the humankind have. It is time to move forward, transform business and economy according to the requirements of today. After all, the KIEF is organized to make us feel the trends of the future and become the ones who bring them to life.”
The Kyiv International Economic Forum is an ongoing platform for forming the strategy of Ukraine’s economic development. Each year, the Forum brings together around 2,000 guests and speakers from more than 30 countries to shape integrated strategies of business modernization with a focus on adaptability and innovation.
More information about the Forum’s speakers and panel discussions is available at:



Kyiv Zhuliany International Airport served 2.009 million passengers in January-September 2019, which is 7.2% less than in January-September 2018.
According to statistics released by the airport’s press service, the number of passengers served on international flights for the nine months amounted to 1.959 million, on domestic flights some 50,200.
The number of flights in January-September 2019 amounted to 21,264 for arrival/departure, which is 8.3% less than in the same period in 2018, in particular 17,835 international flights and 3,429 domestic flights.
The most popular international destinations for the indicated period were Minsk (Belarus), Warsaw (Poland), Sharm el-Sheikh (Egypt), Rome (Italy), Vienna (Austria), Ankara (Turkey), Berlin (Germany), internal – Odesa, Zaporizhia, and Lviv.
In September 2019, the airport served 153,800 passengers, which is 50% less than in September 2018. The number of passengers served on international flights amounted to 151,400, on domestic flights some 2,400.
At the same time, the number of flights in September amounted to 1,601 for arrival/departure, which is 48.2% less than in the same period in 2018, including 1,344 international and 257 domestic.

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The Antimonopoly Committee of Ukraine (AMC) is considering the issue of permits to Devisal Limited (Nicosia, Cyprus), owned by Ukrainian businessman Sergiy Tigipko, to buy shares in Wesla Investments Limited (the British Virgin Islands).
According to the AMC’s agenda, the deal will provide Devisal Limited with over 50% of the voting shares on the board of Wesla Investments.
According to the unified state register, Wesla Investments Limited is the only participant with a 100% share in the charter capital of Veon Plus LLC (Kyiv), which is the owner of Radisson Blu Hotel in Podil. The ultimate beneficiary of the company as of October 3 is Moldovan citizen Victor Garaba.
Until June 2016, according to the state register, the ultimate beneficiary of Veon Plus LLC was Russian citizen Sergey Kovalev.
As reported, with reference to the CMS legal group, the transaction for the purchase of Radisson Blu Hotel in Podil by Sergiy Tigipko was completed in 2016, its cost amounted to EUR 9.2 million.

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American actor Tom Cruise has arrived in Kyiv at the invitation of Ukrainian President Volodymyr Zelensky.
Zelensky met with Cruise in his office on September 30, according to the website of the President’s Office.
“During the meeting, Cruise told Zelensky that he was interested in Ukrainian locations for the filming of one of his new film projects. This was another reason to visit our country,” the website said.
Zelensky, in turn, told Cruise about his experience working in cinema.
He noted that recently the Ukrainian parliament passed a law on compensation to foreign producers who make films in Ukraine. Zelensky said the law law would make Ukraine attractive for to international filmmakers for investment.

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IBOX Bank (Kyiv) has decided to increase its charter capital by UAH 100 million, or by 50%, to UAH 300.004 million through an additional issue of shares.
According to a bank report in the information disclosure system of the National Commission for Securities and the Stock Market, its shareholders decided to increase charter capital at a general meeting on September 25.
The shares will be offered at a price of UAH 1.18 per share, which equals its nominal value, without making a public offer.
The bank plans to use financial resources raised during share placement to bring regulatory capital in line with the requirements of the National Bank of Ukraine (NBU), the report said.
According to the NBU, at the beginning of August 2019 Volodymyr Drobot owned 54.991842% of the bank’s shares, Oleksiy Putiatin some 9.970795%, Ihor Khmelev some 9.897932%, Yevhen Berezovsky some 6.122%, Iryna Shpileva some 5.122519%, Oleksandr Smaliy some 4.70397%, and Natalia Konzurovska some 4.301307%.
IBOX Bank was founded in 1993.
The bank ranked 63rd among 76 banks operating in the country on July 1, 2019 in terms of total assets (UAH 820.014 million), according to the NBU.

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