Business news, entrepreneurship and startups in Kyiv region
Energy Minister Alparslan Bayraktar said Turkey has extended its agreements with Gazprom for a year. BOTAS has signed long-term LNG contracts with a large share of deliveries from the United States, and Ankara plans to invest in U.S. gas infrastructure.
The Turkish energy minister said that during the November meeting the issue of Ankara’s assistance with supplying gas to Ukraine was raised. BOTAŞ and Naftogaz are working on mechanisms, and Ukraine has large underground storage facilities.
The Ukrainian Grain Association estimates the 2025 harvest at 81.4 million tonnes (versus 79 million in 2024). Potential exports total 49 million tonnes, but shipments could be complicated by attacks on infrastructure; a crop-by-crop breakdown and a forecast for 2026 are included.
At a border crossing in Volyn, a woman attempted to bring in 23 iPhone 17 Pro Max (256/512 GB) without declaring them. The devices were seized, and an administrative report under Article 471 of the Customs Code of Ukraine was drawn up against the driver; she agreed to a settlement and must pay a fine.
The retail real estate market is recovering: dozens of shopping centers under construction account for about 1 million square meters, investors are focusing on smaller projects, and capitalization rates have surpassed 2021 levels.
Nicolas Puech is suing conglomerate LVMH and Bernard Arnault, seeking the return of roughly €14 billion worth of Hermès shares that, he says, were sold without his consent.
The government has launched proceedings to prematurely terminate the mandates of several supervisory boards of state energy companies; new members are expected to be elected by the end of December. Prime Minister Yuliia Svyrydenko has also ordered an overhaul of the boards in the defense sector.
Silpo will open a store in Bukovel on December 4 — it will cover 1,441 sq m and operate from 8:00 to 23:00. The interior is inspired by Kotsiubynsky’s novella and Parajanov’s film; the project involves contemporary artists, ethnographic objects and curator Pavlo Hudimov.
Foreign Minister Péter Szijjártó said Budapest will challenge the RePowerEU initiative to ban imports of Russian gas at the EU Court, saying it threatens the country's energy security.
State-owned enterprise "Forests of Ukraine" has launched sales of New Year trees — about 10,000 have already been sold. The enterprise expects to sell around 140,000 trees, manages 2,700 hectares of plantations, and offers prices starting at 210 UAH; container-grown trees from 500 UAH.
On November 20, the Kyiv Court of Appeal reviewed the bail amount for former Motor Sich head Vyacheslav Bohuslaiev — it has been set at UAH 757 million; his detention remains in effect until December 20, 2025.
From the beginning of 2026, businesses in frontline regions will be able to receive direct reimbursements of up to UAH 10 million; across the country there will be partial coverage of insurance premiums. Participation is voluntary — the contribution is 0.5% of probable losses.
Prada Group completed the acquisition of Versace on December 2 for $1.38 billion. Capri Holdings will be left with Michael Kors and Jimmy Choo, and the proceeds are being used to pay down debt. In November 2024 the group recorded a significant decline in revenues.
The EU Council and the European Parliament overnight on December 3 agreed on a phased ban on imports of Russian gas, with different timelines for liquefied and pipeline gas; the European Commission is to submit a legislative proposal on oil in 2026.
The owner of the tanker damaged off the coast of Senegal has announced the suspension of all operations with Russian counterparties, citing increased risks to vessels and crews. The company stressed its compliance with sanctions; the day before, several attacks on tankers occurred.
In December, Ukrzaliznytsia (UZ) will launch a pilot phase of the "3000 km" program: passengers will receive up to 3,000 km of free travel on off‑peak days on selected services. Bookings via the app open on December 3, and trips will begin on December 5.
In November, seaborne exports of crude oil from Russia’s Baltic ports fell 15% from an October high after U.S. restrictions on Lukoil and Rosneft; volumes, fleet data and loss estimates are detailed.
The Dutch government intends to close municipal accommodation centers as soon as possible after the temporary protection ends in March 2027. Around 135,000 Ukrainians will receive three-year residence permits but will have to pay for housing and medical care themselves.
In November, Ukraine increased electricity imports to 415,000 MWh; 44% came from Hungary, supplies from Poland fell by 23%, and exports dropped to a record low for 2025.
Drones struck gas extraction and storage facilities on December 1–2. No workers were injured; damage was reported, and the extent of the destruction is being determined.
Messages have been circulating on social media about purported new rules for notaries taking effect on January 1, 2026. The Ministry of Justice explains that reporting requirements and verification of sources of funds for transactions of UAH 400,000 or more have been in place for over ten years and that the law has not changed. From December 1, certain internally displaced persons can apply for a housing voucher worth UAH 2 million.
Budshliakhmash has begun construction of a 3,000 sq. m production site for frames in Brovary; the launch is expected in mid-2026. The company plans to raise the share of Ukrainian components to 75% and develop an industrial park with about $40 million in investment.
Electronic notification for cosmetic products has been introduced and a single digital register established. Manufacturers and importers must submit detailed data, and the system brings market rules closer to European safety standards.
Insurers have raised charges for marine insurance cover for vessels calling at Black Sea ports in Ukraine and Russia; war-risk rates for a one-week voyage have risen to 0.5% and 0.65–0.8%.
The sole bidder — Invest House Plus LLC, owned by Yevhen Bohuslavskyi — bought the "Raketa" base in the village of Lyman for UAH 1.62 million. The lot includes buildings, temporary structures and engineering facilities; the land is not for sale and is under lease until 2029.
Iraq’s Ministry of Oil has begun negotiations with American companies to transfer management of the country’s largest oil field — currently operated by Lukoil, which has been hit by U.S. sanctions — to one of them.
In November Turkey cut purchases of Russian Urals oil by 100,000 barrels per day — to 200,000 bpd. Facing sanctions and a planned EU ban, the country is ramping up shipments of other grades but confronts logistical risks.
SoftBank founder Masayoshi Son explained that he sold a package of Nvidia shares to raise funds for large-scale investments in AI, including OpenAI; he called the decision painful and said he cried during the sale.
The Ukrainian Veterans Fund under the Ministry for Veterans Affairs will allocate 100 grants ranging from 500,000 to 1.5 million hryvnias to start or develop veterans’ businesses. This year’s competition received 398 applications.
Ukraine's first REIT fund bought the Sky Park shopping mall in Vinnytsia for UAH 1.5 billion; after the transaction the fund's assets rose to UAH 3.48 billion, and Sky Park became its largest asset.