Arzinger & Partners strengthens its offices in Kyiv and Lviv. A new partner and four new lawyers will add significantly to the Real Estate, Corporate and Oil and Gas practice groups. Partner Maksym Cherkasenko is appointed the Co-Head of the Real Estate practice at Arzinger & Partners.

August 5, 2008. In July 2008 UIA operated 1830 flights. The passenger load factor in July 2008 has made up 74%, on average, in July 2007 – 63%. This exceeded the same index of the previous year by 11%.

On 25 July 2008  Ukraine International Airlines has brought to Kiev a patriarchal delegation headed by His All Holiness Ecumenical Patriarch Bartholomew I. This delegation arrived in Kiev for the celebration of 1020th anniversary of Kyiv Rus christening.

Lviv, Ukraine / July 15, 2008. SoftServe, Inc., a leading multinational software development and consulting company, celebrated its fifteenth year providing top-notch offshore development services that consistently bring tangible business value to the customers worldwide.

Only half a year ago Delta Medical launched BioGaia paediatric preparation (BioGaia AB Company, Sweden), which is a novelty in Ukraine, but the rate of its popularity among our citizens is increasing with astonishing speed! The matter is – this preparation solves the problem of children’s dysbiosis since the very first days of their life.

22 July 2008. Kyiv – Lawyers of the Kyiv office of DLA Piper, a global legal services provider, finalized the initial evaluation of the students’ papers, submitted in the first round of the DLA Piper All-Ukraine Scholarship Competition for Law Students 2008.

Vasil Kisil & Partners has acted as a legal adviser to Standard Chartered Bank throughout the establishment process Ukrainian-based Representative Office and, in particular, advised on corporate, employment and regulatory matters as well as assisted in the process of the Representative Office registration with the National Bank of Ukraine.

28 July 2008. CMS Cameron McKenna has acted as special Ukrainian law legal counsel to Wizz Air Ukraine Airlines LLC in its efforts to secure delivery of the low cost airline’s first aircraft.

London, 9 July 2008. Report shows that doing a deal in Ukraine remains challenging despite the potential for market-beating returns.

On 17 July 2008 Panorama Group LLC signed an agreement to purchase a 40% participation interest in the registered capital of the company “REMITARH INTERNAСIONAL SOCIEDAD LIMITED”, Spain, which owns 100% of Private Trade and Manufacturing Unitary Enterprise "DunaBell", the Republic of Belorussia.

The international law firm Salans is pleased to announce a new edition of its regular professional legal publication Salans’ Legal Guide available now in printed form.

On 11th of July, 2008 ACCA Members in Ukraine visited Kiev Golf Centre, where Master Class took place. It was a great opportunity to end working week in a pleasant atmosphere of a golf club where beginners were offered an opportunity to master the art of hitting the ball.

On 11 July 2008 PricewaterhouseCoopers Ukraine held an Executive Business Breakfast dedicated to the Legal and Financial Issues of Initial Public Offerings (IPOs), at the Hyatt. PwC specialists from the London, Moscow and Kyiv firms offered insight into the following topics for attendees:

10 July, 2008. On July 9, 2008 the first Boeing 737-300SF freighter aircraft of Ukraine International Airlines operated Kiev-Vienna-Kiev commercial flight.

July 9, 2008, Kyiv (Ukraine). Vasil Kisil & Partners law firm became member of the project named National IPO Committee. Denis Lysenko, partner and head of Corporate Practice, and Yuliya Kyrpa, leading associate, will be representing the company in the organization.

10 July 2008. PricewaterhouseCoopers (PwC) is very proud to announce that in July 2008 it has officially opened its third Ukrainian office in Lviv, the business and geographical centre of Western Ukraine.

7th July 2008. Salans, the international law firm with offices across 19 cities worldwide, today announces that it has obtained the licence from the PRC Ministry of Justice to open a second office in Mainland China, to be located in Beijing.  Matthias Mueller is appointed the Managing Partner of the office.

July 3, 2008. Ukraine’s national carrier Ukraine International Airlines (UIA) has increased passenger numbers by a staggering 25% in the first two quarters of 2008.

July 3, Kiev, Botanic garden. Today Philips co-signed the Go Green declaration, initiated by the United Nations. The Go Green declaration aims to increase environmental consciousness.

June 25 - 27, 2008. This year the Forum, being the most significant gathering of law practitioners from the former Soviet Union territories, was held in Russia for the very fist time.

UIA carried 760 000 passengers in the first 6 months of 2008. This was 25% more than in the same period of the previous year. In June 2008 Ukraine International Airlines operated more than 1600 scheduled flights, carried nearly 155 000 passengers and more than 400 tonnes of cargo.

Astonishing results – the application of Pregnacare preparation (Vitabiotics, UK) allows decreasing the level of increased bleeding sickness (hemorrhagic syndrome) of newborn more than twice! The statistical data state that this syndrome is the most frequent cause of increased level of death rate at the earliest stages of life of premature newborn!

On June, 20 - thousands of Kyiv citizens looked after the bright show of the best masters of Europe, which showed the talents during the First Kyiv International Fireworks Festival - «Stars for you». An audience admired fireworks with synchronous musical accompaniment of pop rhythms setting by the leading pyrotechnists of Italy, Germany, France and Ukraine.

June 27, 2008. During May - June 2008 Arzinger & Partners Ukraine has boosted its Kyiv office by hiring four new lawyers and a partner, marking a second partner hire this year. New lawyers will add significantly to the Real Estate, Corporate and Oil and Gas practice groups.

June 26, 2008. Markian Malskyy, Associate at «Arzinger&Partners» Law Firm gave a report on the subject «The Practice of Business Associations’ Operation in Europe: practical aspect» during the second International Conference «Ukraine’s accession to the WTO: prospects for small- and medium-scale business» held on 23 June 2008 in Kiew.

International Tax Review has announced European Tax Awards winners. KYIV, 24 June 2008 – Ernst & Young was named Ukrainian Tax Firm of the Year by the authoritative international magazine International Tax Review (UK).

June 23, 2008. CIS-based Magisters acted as a legal adviser to Depfa Bank, Germany, on the issuance of unsecured loan to Open Joint Stock Company "The State Export-Import Bank of Ukraine" ("Ukreximbank") for the amount of USD 25 million. The agreement was signed on May 28 for a period of one year.

Key Points: Salans opens in Frankfurt, Salans expands in Germany from successful Berlin base, Salans targets German clients with German lawyers across the network, Frankfurt focuses on M&A, Private Equity, Finance Litigation, International Real Estate and Tax, Further lateral hires planned in Frankfurt.

Topical Aspects Of Protection Of International Pharmaceutical Manufacturers’ Intellectual Property Rights Practical Conference ran at Kiev Hotel’s conference room on 11 June 2008. Legal Alliance Law Firm was the Conference’s general partner. Official partner of the event was European Business Association.

Salans, the international law firm with offices across 18 cities worldwide, and which recently announced a major development program in China, today announces a further key appointment in the region.

12.06.2008. Kiev. Philips Ukraine is the one, who helped veterans of stage to meet. The subject to discus and to enjoy was Pyotr Tchaikovsky’s life and Ukraine. Famous composer liked to stay in Grand hotel (corner of Proreznaya str), he wrote a half of his operas being in Ukraine.

One of the most unusual projects in Ukraine – LadyLine - started in November 2007. Information from qualified specialists comes from several sources at the same time: specifically designed site, educational brochures, and free of charge consultations at hot line of Delta Medical company.

In May 2008, Mr. Gregory Grushko joined ART-CAPITAL Investment Financial Company as Managing Director of the Capital Markets Division.

But perception yet to match reality: in record year for investment flows globally, Western Europe still receives nearly 40% of foreign direct investment.

Lawyers from Arzinger & Partners Ukraine for the third time took part at the largest real estate and investment fairs in Europe – “Real Vienna”, from 27th to 29th May, in Vienna. ““Real Vienna” is the only business real estate and investments fair specialized exclusively for the market of Central and Eastern Europe, as such, an ideal place for presentation of Ukrainian investment potentials in the field of real estate”.

/Kyiv, June 4, 2008/ Foyil Asset Management Ukraine has announced the winners of the “win-a-lunch” contest held at www.foyil.com.ua. After a two month search, during which participants had to discuss “What kind of investor are you?” Foyil found three winners. The contest was open to anyone in Ukraine and the winners were determined by a random draw.

June 3, 2008. We are happy to announce that Salans has been acknowledged as The Best Law Firm in Real Estate in Ukraine and has received the National Legal Award 2008 in this area!

Monday, 2nd June 2008. Salans, a leading global law firm with offices across 18 cities worldwide, which recently released details of a major development program in China, is announcing today that Jeff Wenhai Cai has joined as a partner.

Olexander Martinenko, Senior Partner in the Kyiv office of CMS Cameron McKenna LLP was recognized by the leading Ukrainian legal newspaper, Yuridicheskaya Practika ("Legal Practice"), as the Competition Lawyer of the Year and also received the Editor’s Award for Outstanding Achievements at the 2008 Legal Awards ceremony held on Friday, May 30, at the Hyatt in Kyiv.

On May 30, the FOYIL Group opened its first representative office in the central Ukrainian city of Dnipropetrovsk. The grand opening was held at 79 Karl Marx Prospect under the sign of FOYIL Investments. “We’ve known investors from Dnipropetrovsk for several years now,” Director General of FOYIL Securities Oleksandr Sandul said at the opening ceremony.

In the eve of Children defense day BLG Logistics, leader of the European logistic market and ViDi Group, realized a joint social project. Due to sympathy, open hearted and desire to help children employees of BLG Logistics starting from December, 2007 till April, 2008, scarified their personal time, make efforts to collect humanitarian help in Germany.

Kiev office of Legal Alliance Law Firm moved to a new address, suite 1115, 172 Gorky Street, effective 30 May 2008. Formerly the firm was located at 12 Panas Myrny Street. According to Legal Alliance Senior Partner Ilya Kostin, the need to move to a more spacious place was caused by the ever growing staff of the firm.

Legal Alliance Law Firm has been invited to be the General Partner for the TOPICAL ASPECTS OF PROTECTION OF INTERNATIONAL PHARMACEUTICAL MANUFACTURERS’ INTELLECTUAL PROPERTY RIGHTS Practical Conference to take place this 11th June in Kiev.European Business Association will be a Conference partner. Morion Company will be a Conference media-partner.

Agshin Mirzazade, Deputy Head of Research at Foyil Securities in Kyiv, Ukraine, has been promoted to the Head of Research. In 2006 Mr. Mirzazade gained his MBA at Duquesne University, Pittsburgh, USA, after winning a scholarship from the S.T.A.R.T Caucasus program sponsored by USAID. Prior to that, he had been involved in the banking industry in Azerbaijan since 1996, working as a credit manager with leading commercial banks and international financial donors.

Prisma-Beta LLC, an affiliate of Panorama Group, has recently signed a general lease agreement with "Dniprovska Pristan" CJSC regarding the first construction stage of Trade-Entertainment Centre "SKY MALL" located at 2 Generala Vatutina Ave. in Dniprovskyi District of Kyiv.

SYDNEY, KYIV, 2 JUNE 2008 – Almost 90% of the world’s largest mining companies expect to grow through acquisition in the next two years, according to a new global report, The year of the hunters and the hunted, released by Ernst & Young. The report – based on interviews with 70% of the top 40 global mining and metals companies – reflects the sector’s confidence in the boom continuing, with 40% of respondents only able to meet their aggressive growth targets through acquisition.

1 June 2008. May 31, 2008 will see licensed travel agencies worldwide, which use to administer ticket sales through Billing Settlement Plan (BSP) under the auspices of International Air Transport Association (IATA), issue paper tickets for the last time. From June 1st through June 16th IATA is to withdraw 32 million paper tickets from 53 000 international agencies. This will usher in a new era of e-ticketing for the world aviation.

May 2008. We are happy to announce that The Lawyer, the UK’s leading legal publication, has recognised Salans’ international standing once again and shortlisted it for its International Law Firm of the Year award, to be announced on 24th June, 2008 in London.

Delta Medical has been announced the exclusive distributor of Spirig Pharma AG production (Switzerland). The preparations of dermatological and cosmetic trends, which are the most popular in the country of prestigious banks, expensive watches, and famous cheese, will be presented in Ukraine in proper way.

May 12, 2008. Arzinger & Partners has written and published the first edition of the book “M&A in Central and Eastern Europe”, which is designed to provide readers with information on peculiarities and the best solutions for doing successful M&A deals in countries of Central and Eastern Europe.

The General Directorate of the Kyiv City Council for Servicing the Foreign Representative Offices (GDIP) is about to finalize the process of signing the set of documents regarding attraction of developer and establishment of construction financing fund (the CFF) in construction of hotel-residential complex "Diplomat" at 44-46 Gogolivska St. in Shevchenkivskyi district of Kyiv. Subdivision of known Ukrainian development group – Danfort LLC was chosen as the main partner and investor of the project. VAB Bank OJSC acts as the manger of the CFF and major financial partner of the project. In result of multilateral cooperation GDIP will receive the in-built into the complex 3-star hotel of approximately 1061 sq. m. under a separate freehold title.

27th May 2008. Salans, the international law firm, with 18 offices worldwide, announces today a wide-ranging development of its Asian strategy.  Building on the success of the firm’s emerging markets practices and with a long established presence in Shanghai, Salans is now engaged in a major expansion of its activities in China.

“INGO Ukraine” JSIC came out as a general partner of the 2nd International Conference “Insurance of Investment into Real Estate: Reality and Prospect”, which was held on the 21nd May 2008 at the “Hyatt Regency Kiev” hotel. The goal of conducting the conference was to show to the participants of the market the necessity of the more civilized approach to the risk distribution between the participants of the process: investors, banks, developers, consulting companies, architects, constructors and etc.

22 May 2008. On May, 21 2008 the exhibition “Three rooms” of the famous Kyiv artist Tetyana Goryushyna was opened in the office of Arzinger & Partners About 50 guests had the opportunity to get familiar with the artist’s works and also to try their hand at creating their own unique masterpiece.

PBN also recognized for its corporate positioning and financial communications program for Renaissance Group 23 May 2008 – The PBN Company was named the Eastern European Agency of the Year at last night’s 2008 SABRE Award ceremony in Venice, organized by the Holmes Report, one of the communications industry’s leading professional publications.

On May 14, 2008, in the run-up to Ukraine’s long-awaited accession to the World Trade Organization on May 16, 2008, Vasil Kisil & Partners’ Oleg Alyoshin presented at an invitation-only conference organized by Bryan Cave and the Ukrainian-British City Club in London.

Natalia Selyakova is the Head of Salans Banking and Finance Group in Ukraine.  She is a very well known lawyer within the Ukrainian banking community.  Natalia has extensive experience in banking and finance work, with the in-depth knowledge of Ukrainian law and practice and of complex international finance transactions and instruments.  She played the role of a lead counsel in numerous transactions such as syndicated finance, project finance, trade finance, M&A finance and settlements, underwriting, mortgage bonds and financial leasing.

Dear EBA member companies, please be informed that from today you may use new service of ABEA ltd FOR FREE. You are welcome to place resume on our newly created special job web site http://www.go2kiev.com/view/joblist/index.php. CVs can be placed as well.

Kyiv, 19 May 2008. 15 years ago, on 19 May 1993, the National Bank of Ukraine governed at that time by Viktor Yushchenko registered and granted a banking license to Credit Lyonnais Ukraine, first time ever such licence was granted to the subsidiary of a Western bank. Credit Lyonnais Ukraine was renamed in 2004 into Calyon Bank Ukraine after the friendly takeover of Credit Lyonnais by Credit Agricole and the decision to name its corporate and investment banking arm - Calyon. Back in 1993 for Credit Lyonnais it was not a new start, but rather a comeback. From 1892 to 1920 there was a Credit Lyonnais branch in Odessa.

KYIV, 19 May 2008 – Ernst & Young, the leading audit and advisory firm in Ukraine, announced today the opening of its second office in Kyiv and the expansion of its advisory practice in Ukraine. In addition to the office on 19A Khreschatyk St., an office on 7 Mykhailivska St. will also operate.

12 May 2008, Kyiv, Ukraine – Full service PR agency The PBN Company has won a tender to provide full spectrum communications services for the first low cost airline to enter the Ukrainian market – Wizz Air Ukraine. The PBN Company will perform as an external press office for Wizz Air Ukraine and will organize and coordinate the company’s special events.

May 13, 2008. KYIV, Ukraine - Building on more than 15 years of experience in Ukraine, Squire, Sanders & Dempsey L.L.P. is expanding its Kyiv presence to meet the needs of clients investing in Ukraine’s booming economy. The firm’s Kyiv office was founded in 1992 by Helen Z. Kryshtalowych, one of Ukraine’s best known international lawyers.

13.05.2008. Kiev. Being a leader in world lighting industry and providing light for example for Sydney Opera house, Philips decided to bring a light of communication to those, who devoted their lives to theatre. More than a hundred people, who are the veterans of Great Patriotic war, gathered all together at the beginning of this week at Kyiv Actor’s house. Victory’s Day is one of the opportunities for them to see each other and to have a talk (lot’s of them are senior people and it’s really difficult for them to walk). Philips Ukraine supported Kyiv branch National theatre workers’ union to organize a party for veterans.

Delta Medical launched a new product – HeadRing lotion from Thornton&Ross (UK), having enriched its portfolio with the next novelty, special composition of which gives a rare possibility to find an effective and safe solution to one of the most unpleasant everyday problems that may affect anybody i.e. the problem of pediculosis.

LONDON, KYIV, 14 MAY 2008 – Anti-corruption enforcement has become stronger around the globe over the past five years, according to nearly 70% of respondents to a new survey of business leaders worldwide. Their perceptions are supported by the fact that regulatory authorities and law enforcement are cooperating more frequently. At the same time corruption itself remains a significant problem for business, with more than one-third of survey respondents saying that corrupt business practices are becoming worse. In this environment executives and board members face daunting challenges around their compliance obligations.

13 May 2008. The biggest marketing agency in Ukraine celebrated its 15th Anniversary together with the top management of the leading Ukrainian and international companies in the new format of ‘VIP get-away’. The VIP get-away events are new to Ukraine. The format seems similar to an ’incentive tour’, i.e. a trip abroad that some companies here organize for their staff with the aim of motivating them.

May 12, 2008. Arzinger & Partners has written and published the first edition of the book “M&A in Central and Eastern Europe”, which is designed to provide readers with information on peculiarities and the best solutions for doing successful M&A deals in countries of Central and Eastern Europe.

Every 30-years-old person has to care about own pension in advance, as no country is able to provide full support for its own citizens in their aging, said Vitaliy Melnychuk, KINTO Vice-president for the live-talk program “Balance” on “Radio Era FM” on April 22. The program was devoted to the problems in the sphere of Ukraine citizens’ social security and pension reform. Mr. Melnychuk talked about opportunities offered by non-government pension funds and advised on how to improve one’s own financial well-being in existing realities.

On the 21st of May 2008, the 2nd International Conference “Insurance of Investment into Real Estate: Reality and Prospect” will be held at the “Hyatt Regency Kiev” hotel, initiated by the Ukrainian Building Association and group of companies “Slav-Invest”. The insurance company “INGO Ukraine” is a general partner.

May  2008. DTZ Ukraine is pleased to announce that it has advised Meyer Bergman European Retail Partners, a real estate investment fund, on the acquisition of the "Aladdin" shopping center in Kyiv. The purchase price reflected a yield in excess of 10%. Situated in the densely populated area on the left bank of the Ukrainian capital, "Aladdin" shopping centre opened in 2005 and comprises 16,000 sqm of gross area.

April  2008. Global real estate adviser DTZ has strengthened its operations in Ukraine by appointing new associate directors and heads of business lines across its Kyiv team. With effect from 1st April 2008 eight people, responsible for their respective fields, have been promoted to associate director.

Since joining Foyil Securities in 2006, Mr. Mirzazade has demonstrated exceptional commitment towards building professional expertise in the banking and financial sector, his main coverage area, and as a result he is now one of the most respected analysts in his field in Ukraine.

(Fornebu, Norway - 30 April 2008) In the first quarter of 2008, Telenor’s pro forma revenues (including Kyivstar) increased by four per cent compared to the first quarter of 2007, reaching NOK 26.3 billion. Underlying revenues increased by seven per cent in the same period. The EBITDA margin before other income and expenses was 35.1 per cent in the first quarter of 2008, up from 34.8 per cent in the first quarter of 2007. Telenor’s operations added more than four million subscriptions during the first quarter.

On the 17th of April 2008, the awarding ceremony of prize-winners of the tenth anniversary “Financial rating” of the “Business” newspaper was held. Igor Gordiyenko, Chairman of the Board was declared the laureate under nomination “The personality of the insurance market - 2007”.

Dear Colleagues, please be advised that Business-Link is changing it’s address and as of Monday 5th May will be working at their new office at Barbyusa 5-B, office 93, Kiev 03150. Their telephone numbers, e-mais and website remain the same: +38 044 494 2080, office@businesslink.kiev.ua, www.businesslink.kiev.ua.

Kyiv - The Kyiv office of DLA Piper, a global legal services organisation, together with Concorde Capital Investment Capital, held a joint seminar for clients on restructuring of Ukrainian business 23 April.

LONDON, KYIV, 23 APRIL 2008 – Ernst & Young announces that its Global Executive and the Global Advisory Council approved the proposed integration of all of its 87 country practices in Western and Eastern Europe, the Middle East, India and Africa into a new EMEIA Area. It also confirmed that more than 700 partners in the Far East had supported a similar integration across 15 countries and territories.

On the 18th of April the Ukrainian Chamber of Commerce and Industry has awarded the winners of the national business-ratings. The experts named the best enterprises of more than 500 branches of Ukrainian economy. The NBR ratings is considered to be the most objective measure of success, as it is completely based on the official data of the State Statistics Committee of Ukraine. A motto of NBR is “In factum veritas” (“The truth lies in the facts” (Latin)).

Prominent pharmaceutical producers are very careful in selecting representatives of their interests abroad. Delta Medical has top places in their lists in terms of distribution, which has been proven again by the volume and composition of French products in the portfolio of the company.

21 April, 2008; Kyiv, Ukraine – Ukraine International Airlines announced today it has signed a contract to lease one (1) Boeing 737-300SF freighter aircraft from GE Commercial Aviation Services (GECAS).  UIA is the first customer in Ukraine to add the 737-300SF freighter to its fleet.  This aircraft is the freighter version of one of the best-selling and popular commercial passenger aircraft in the world today and represents a big increase in UIA’s freight carrying capacity.

Asters, a leading independent Ukrainian law firm, announces the accession on 14 April 2008 of Irina Nazarova as an equity partner and chair of litigation practice group and Andriy Vishnevsky as an equity partner and co-chair of business law practice group together with seven attorneys in their respective practices.

Salans announces an increase in global revenues for the 2007 financial year to USD $282 million. This represents a stunning 37% increase on the 2006 figure of USD $206 million. All Salans offices all contributed to the revenue improvement, with the CIS and CEE regions continuing to grow particularly strongly, highlighting the resilience of the emerging markets last year during the onset of credit market instability.

Vasil Kisil & Partners Law Firm acted as a legal adviser to domestic investors in the matters of sale of Aladdin Shopping Mall, one of the largest shopping centers in Kyiv, to Meyer Bergman, a European-based private equity fund. The transaction was successfully closed on April 9, 2008.

April 11, 2008. – Arzinger&Partners Ukraine acted as a legal counsel to Dragon Capital and East Capital Bering Ukraine Fund in the acquisition of the 70%stake in Chumak – one of Ukraine’s top consumer brands. As the result of the deal, Investment bank Dragon Capital and East Capital Bering Ukraine Fund have jointly gained control over 70% stake from Chumak’s co-founder, Professor Hans Rausing.

LONDON, KYIV, 15 APRIL 2008 – In the first quarter of 2008, global initial public offering (IPO) activity decelerated sharply in the wake of the credit crunch and sustained financial turmoil, according to the quarterly Global IPO Update from Ernst & Young. The number of IPOs fell by 60% in the first quarter of 2008 compared with the fourth quarter of 2007 and was down 38% on the first quarter of 2007.

Do you know to what extent pay levels in your company correspond to those of similar jobs in other companies of Ukraine? For example, are you sure that you are not overpaying in some range of jobs? Would you like to compare salaries of your company with the competitors’, or with companies of similar profile maintaining total data confidentiality? To analyse the tendency of reward policies in your sector? To obtaine the effective instrument of system management?

10th of April 2008. ALD Automotive, leader on car leasing market together with Charity Fund “Ukraine! I’m for you!” (charity organization supporting hospitals, nurseries and boarding schools and dealing with ecological issues) initiated social campaign “ Plant A Tree” in frames of “ Green KYIV “ project. The campaign aims not only to raise awareness of the impact vehicle CO2 emissions have on our environment,  but to do something positive about it by planting trees.

A leading expert has warned of the risk a two-tier approval structure could pose to the burgeoning Ukrainian construction market. In the lead-up to the Euro 2012 Football Championships, the country is in the midst of a construction boom yet the regulatory landscape is far from clear.

Delta Medical is known to pay special attention to innovative products for paediatrics. It is too early now to talk about complete saturation of Ukrainian market with new generation of world-known effective preparations. Naturally, the promotion of unique preparations for prophylaxis and treatment of children diseases requires considerable amount of preliminary work. Therefore, the structure of Delta Medical includes the paediatric staff, focused on a large number of different activities.

NEW YORK, KYIV, 7 APRIL 2008. The chief financial officers (CFOs) of global banks are wielding increasing influence - and feeling the responsibility that comes with it - as senior management and directors expect CFOs to sharpen their focus on strategic issues rather than concentrate solely on monitoring and reporting financial information, a new survey finds. Ernst & Young and CFO Research Services’ The Finance Operating Model Matters reveals that in order to rise to the standard now expected of them, CFOs must first improve their financial operations, which have become disjointed and inefficient in the wake of rapid growth in the industry. Only then can CFOs become true strategic partners, helping to evaluate new products, provide leading indicators on business performance and drive merger and acquisition opportunities.

Almaty one of the biggest cities in Kazakhstan will become the 19th destination of "AeroSvit – Ukrainian Airlines" where electronic ticket (e-ticket) is implemented. Earlier in the beginning of March electronic tickets became available for Kyiv-Saloniki, in the end of February – for Kyiv-Moscow flights of AeroSvit.

“AeroSvit” obtained permission for regular flights from Kazakhstan aviation authorities and started selling tickets for Kyiv-Almaty-Kyiv. “AeroSvit” will begin operating flights to Republic of Kazakhstan on April, 26th this year gradually increasing their number. During the first month there will be one flight, from May, 28th – two and from June, 16th– three flights per week respectively.

In response to increased passenger traffic and to cope with projected demand for  popular holiday destinations, UIA increases the number of own, partner and charter flights for the summer 2008 season to offer new travel opportunities to destinations in Europe and Ukraine. 3 April, 2008; Kyiv, Ukraine – Effective March 30, 2008, Ukraine International Airlines is switching to the 2008 summer flight schedule which will run through October 25, 2008.

02.04.08. The Supervisory Board of VAB Bank has agreed to accept resignation of Mr. Petr Rasocha from the position of the Chairman of the Management Board of VAB Bank due to family reasons. However, Mr. Rasocha will continue to act as the advisor to VAB on retail business development.

March 31, 2008. Kyiv. Students of the LBS Executive MBA program started to work on the VAB strategic projects: the strategy for launch of the VAB Titan mutual fund with optimal utilization of all possible sales channels and the development of a single call centre for all companies of the VAB Group.

The First business-school of Ukraine MIM-Kyiv (www.mim.kiev.ua) and WORLD STAFF ® Recruiting Company are inviting You to participate in a Career Development Event for МВА graduates and students, Senior Executive MBA,  Management Development PMD Programs. Date: the 24th of April. Time: 17:00 – 21:00. Place: assembly hall, hall, audiences of MIM-Kyiv (Kyiv, Shulyavska Str. 10/12B).

Since Integrites Head office had moved to a new building in early October 2007 much had changed – the staff was reinforced; clients had gained more benefits and opportunities. Far and away, the building itself had contributed to the fast-growing progress of Integrites.

We are happy to announce of the new service launch at Integrites. Being a professional business mediator to importing and exporting companies worldwide, a special independent team was formed with the view to deliver highly qualified services on supplying complex consulting solutions on insurance issues domestically and abroad.

New department was implemented into the structure of the Integrites Head Office in Kiev – a Business Development Department. Creation of the new department is inseparably linked with the company constant geographical expansion, introduction of new services and consequently human resources enhancement.

31st, March 2008. Kiev. VAB Bank Supervisory Board decided to appoint Lukas Tursa as the Deputy Chairman of the Management Board. In his new position Mr.Tursa will be in charge of treasury operations, international borrowings, and VAB Bank investment business.

On 27 March 2008, three Ukrainian subsidiaries of Panorama Group LLC, the holding company of a Ukrainian development group with foreign investments, signed a loan agreement with EBRD borrowing a 139 million USD loan facility for financing the construction of retail centres in Kyiv, Kryvyi Rig and Simferopol.

International holding and investment company Africa-Israel Investments Ltd undertakes its first greenfield project in Ukraine. During February-March 2008, the company purchased approximately 130 hectares of various purpose land plots through its affiliates in Boryspil District of Kyiv Region.

28 March 2008 Kyiv - DLA Piper, a global legal services organisation, closed the submission of applications for Ukrainian students participating in 2008 DLA Piper All-Ukraine Scholarship Competition for Law Students, thus ending the first stage of the Competition.  Now, registered participants, the number of which exceeds 100, have to prepare their final essays which should be submitted in May 2008, and then will be shortlisted to semi-finalists and finalists.

28 March 2008. Asters acted as a Ukrainian legal counsel to the European Bank for the Reconstruction and Development in connection with a USD 139.3 million secured loan facility provided to three Ukrainian subsidiaries of Panorama Group Ltd., a Ukrainian holding company wholly owned by Expert Capital S.A., a leading Luxemburg’s development company. The relevant loan agreement was signed on 27 March 2008.

On 25 March 2008, OJSC Synergy officially announced signing of the Assets, Share and Participatory Interest Purchase Agreement, provisioning for the acquisition of the well-known CIS spirits producer - TM “Miagkov” holding. Completion of the transaction is expected within the next two weeks. The deal value is confidential.

Delta Medical has conducted a training session/conference in Kiev, dedicated to the problems of antiretroviral therapy. The participants have discussed the following issues: Modern outlook on medical issues of the spread of HIV-infection. HIV treatment; clinical testing; the problem of drug resistance and treatment of concurrent infection; Survey of the systems of purchasing antiretroviral preparations, employed in CIS; Marketing policy of pharmaceutical companies.

24 March, 2008; Kyiv, Ukraine – UIA announced today the plans to upgrade its passenger aircraft fleet with up to 30 new aircraft over the next 6-7 years.  The initial order is for four new Boeing 737-800 aircraft scheduled for delivery next year (two) to be followed by two more in early 2010.

This week, the Spring issue of the Premier Palace Hotel’s newsletter for guests, Premier Palace Focus, came out. Like our earlier issues, this third one has a number of ongoing columns: the history of the Premier Palace Hotel; business and social events; hotel news; and all about Kyiv, its history and walks down well-known streets.

DLA Piper has announced its global revenue for the year ending 31 December 2007, which is up 18.7% to over 2.1billion USD/1billion GBP/1.5billion EURO. DLA Piper also indicated that its profits per equity partner were up 8.3% for the year to $1.281 million.  These numbers confirm that the firm has performed increasingly well across practices and key markets, while still investing in new and existing offices, delving more deeply into emerging markets and continuing operational integration.

On February 29, 2008 Standard Chartered Bank officially announced the completion of American Express Bank Ltd acquisition from American Express Company. The transaction value reached about USD 1.1 billion.

Dear International Colleague, we warmly invite you, as professional in international education, to participate in the 4th annual Ukrainian International Education Fair! 4th April in Donetsk, hotel “Donabass-Palace”, st.Artema, 80. Time: 13:00- 19:00. 5th April in Kharkov, hotel “Mir”, avenue Lenina, 27-A. Time: 13:00- 19:00. 6th April in Kyiv, hotel “Radisson SAS”, st. Yaroslavov Val, 22. Time: 11:00- 19:00. UIEF will introduce to you the best educational institutions.

London (UK), March 10 – 12, 2008 hosted the largest global investment conference dedicated to Ukraine - Adam Smith Conferences’ 4th Annual Ukrainian Investment Summit, which this year attracted a record number of over 780 attendees from 23 countries.

Foyil Eastern Europe & Russia Focused Fund has shown an impressive 99.5% year total return in 2007; therefore it was rated as a five star fund by Morningstar. High recognition given to the Fund is substantiated by a benchmark statistics calculated relative to the Standard & Poor`s 500 Index (S&P500) and implicates it to be set among the best performing funds employing the same investing strategy in global emerging markets. “In 2007 the Fund exceeded Morgan Stanley Capital International index for Emerging Markets (MSCI EM) Index by 57.7%. It has also generated a considerable 363% return for the last 3 years with an annualized change of 34.2% since inception”, - noted the President of the Foyil Group Companies Dorian Foyil.

The plan of joint events consists of various programs and seminars aiming to raise the quality and efficiency of corporate governance. The support of the educational programs in corporate governance is a further step within the program „Qualitative law education for effective business“ that is successfully conducted by Arzinger & Partners Ukraine during past three years. “ We are happy to create favorable conditions for solving one the most important problems of legal education in Ukraine – lack of practical knowledge”,- underlines Senior Partner Sergey Shklyar.

14 March 2008. Kyiv - DLA Piper is delighted to announce that it was named Mid Market Law Firm of the Year at the inaugural Financial Times and Mergermarket M&A Awards on 13 December 2007. DLA Piper beat off stiff competition from Allen & Overy, Clifford Chance, Eversheds and Linklaters in winning the award which caps another impressive year for DLA Piper’s corporate team.

Delta Medical has signed exclusive contracts with three leaders of pharmaceutical market: Stiefel Laboratories (USA), Laderma (Australia) and Arkopharma (France). Delta Medical plans to promote the products of these companies on Ukrainian market with the help of dermatological department, which is new in its structure, and the team of specialists in gynecology, which have already excellently showed themselves.

On the 29th of February, 8 p.m., at the Marriott hotel, Rustaveli Avenue 13, Tbilisi 8, 0108 Georgia, festival-competition “Golden Brand of Georgia” held the winners award ceremony. Ukrainian recruiting company “Brain Source International” is recognized the national winner in the “Recruiting services” category.  This fact is the evidence of the Ukrainian HR-services increasing quality: the company with the Ukrainian management and roots is recognized the best in its sphere abroad leaving behind Western and Russian international companies.

CMS Cameron McKenna LLP announced the appointment of Adam Mycyk as Kyiv Managing Partner this Thursday 6 March, at the official opening of the Kyiv office. Effective immediately, and bringing Kyiv under a management structure that is consistent with the other offices,  Adam will serve as managing partner for two years and Olexander Martinenko shall remain in his position as senior partner.

On February 21, 2008, the law firm of Frishberg & Partners held an informal lunch with members of diplomatic community and Mr. Taras Kuzio at a Vietnamese restaurant “Hanoi”.

The „Ukraine Country-Specific Awards“ is organized by Europaproperty.  The awards jury contains of active commercial real estate directors of International companies doing business in Ukraine. Awards will be presented as Best Company of the Year and Best Project of the Year in each of the major market sectors. Four International Law firms doing business in Ukraine were nominated as “Best Law Firm 2007”. The Ukraine Country-Specific Real Estate Awards will take place on February 14, 2008 in London, England.

New Partner Volodymyr Shkred, LL.M. brings over 12 years of experience in corporate and commercial law both in Ukraine and abroad. Volodymyr has strong academic credentials as well as working experience as a General Counsel with MTS Ukraine (former name UMC) and SUN Interbrew Ukraine in the area of the telecommunications law, corporate law, antimonopoly law, contract law, foreign investments, mergers and acquisitions.

Ukraine International Airlines brings its customers closer to Europe’s richest romantic traditions during the February-March romantic season. UIA announced today the start of a 1.5-month long promotion of its top nine European destinations during February-March 2008 period.  Destinations include the following cities – Amsterdam, Rome, Berlin, Frankfurt, Vienna, Madrid, Barcelona, Lisbon and Tbilisi.  Tickets for two for weekend tours or week-long getaways are made available for advance purchase, each at a symbolic fare of 214 USD in February and 308 USD in March.

Effective from January 1, 2008 Igor Mehedynyuk and Volodymyr Monastyrskyy were elected Partners of Salans global partnership. Igor specializes in, corporate/M&A with particular emphasis on insurance and securities law.  He has been working in the Kyiv office of the international law firm Salans since 1999. Volodymyr has been working in Salans Kyiv office for over 11 years.  He has vast experience in advising foreign investors in their acquisitions in different economic sectors of Ukraine.  Volodymyr concentrates on commercial and civil law matters, in particular, on corporate/M&A, real estate, secured financing, non-state pension business, tax and employment matters.

«Personnel EXPO» — is the first international exhibition on personnel management in Ukraine, conceptual analogue of which are being held annually in Moscow, Geneva, Barcelona, Zurich. The event will be held for 4-5th of March 2008 on one of the most prestigious capital exhibition areas - «KievExpoPlaza», in pavilion of more than 2000 sq. meters with all technical equipment, that correspond to European standards.

In January 2008 three new lawyers joined Arzinger & Partners Ukraine - Volodymyr Shkred as a partner, Olena Darmogray as a senior associate and Olga Shevchenko as an associate. New Partner Volodymyr Shkred, LL.M. brings over 12 years of experience in corporate and commercial law both in Ukraine and abroad. Volodymyr has strong academic credentials as well as working experience as a General Counsel with MTS Ukraine (former name UMC) and SUN Interbrew Ukraine in the area of the telecommunications law, corporate law, antimonopoly law, contract law, foreign investments, mergers and acquisitions.

Ukraine International Airlines have reviewed the preliminary results of the company`s performance in 2007. This year turned out to be the most successful in the airlines’ 15-years history. “In spite of the continuing rapid growth of aviation fuel prices, tough competition for the passenger and high inflation level we managed to achieve the unprecedented for our market business growth, - UIA President Yuri Miroshnikov noted. – We are especially proud of the fact that our Airline achieved such a success in conditions of political uncertainty extremely unfavorable for the aviation industry”.

International Law Firm Salans acted as Ukrainian and English legal advisor to Anthousa Limited on US$ 90m loan from the European Bank for Reconstruction and Development.  Anthousa Limited (UK) is the Holding Company for the Furshet Group of Companies, which operates one of the largest supermarket chains in Ukraine under the name “Furshet”.  The transaction is unusual for the Ukrainian market since the loan was extended to a non-resident holding company.

January 1st 2008 UIA became the official member of the Assocіatіon of European Aіrlіnes, uniting 33 leading air carriers of the continent. According to UIA`s President Yuri Miroshnikov: “Joining the Assocіatіon of European Aіrlіnes by UIA is quite natural and logical step. Ukraine International has been the leading air carrier between Ukraine and Western Europe for 15 years, and has close partnership relations with many airlines – this organization`s members. We are sure that joining the AEA will uphold the development of UIA`s business and Ukrainian aviation in whole and will be the next step on the way of Ukraine`s entering European Common Aviation Area».

Kyiv, January 11, 2008. Ernst & Young’s Human Capital team presents Ukraine Compensation & Benefits Survey 2007/2008. The Survey provides information on general (fixed and variable) compensation levels for more than 200 positions, structure of compensation packages, and HR policies. This Survey is conducted annually for the last six years and the number of surveyed companies grew to 124 by now.

17 DECEMBER 2007 (LONDON, KYIV), – Eighty-seven percent of multinational enterprises (MNEs) believe that transfer pricing is a risk when managing their financial statements, as compliance requirements have increased due to developments in financial reporting, according to Ernst & Young’s biennial Global Transfer Pricing Survey of 850 MNEs.

On 10 December 2007 (KYIV) Mykola Lagun, Chairman of the Board of Delta Bank, was named the 2007 Ernst & Young Entrepreneur Of The Year in Ukraine at the awards ceremony in Ukrainsky Dim, Kyiv, on December 8, 2007. In June 2008, he will represent Ukraine at the World Entrepreneur Of The Year Award in Monte Carlo, Monaco. In addition to winning the national round, Mr Lagun was also recognized in the Fast-Growing Business category.

On 10 December, 2007, at the informing agency Interfax, at Reytarska St., 8/5a the top management of the managing company Brain Source International held the press conference where announced the completion of its establishment as the first in Ukraine HR asset management company.

The first English edition of the annual rating “ТOP-100 The Best Companies of Ukraine” was published on 20 November 2007. The Rating umfasst real results of the Ukrainian companies and their activity of the last year.

November 27, 2007, (Kyiv) - Ernst & Young is pleased to announce that Mary Whitnall, Assurance partner, has joined Ernst & Young office in Kyiv on November 27, 2007. Prior to that, Mrs. Whitnall worked for Ernst & Young’s office in Moscow. In her new role, Mary will deliver audit services in Ukraine.

On 25 November 1992 Ukraine International Airlines that had been officially registered on 29th October 1992 made its first flight Kiev-London. In the space of 15 years of its activities UIA has grown from a small company with two aircraft and 100 personnel to being the leading Ukrainian airline operating a fleet of fifteen Boeing-737 aircraft and transporting one and a half million passengers annually.    

On 28 November, 2007, CASE Ukraine is organising the Conference on Resource Potential and Production Capacity of Liquid Bio-fuels. The conference will be held in order to promote energy-saving technologies through obtaining renewable energy from bio-fuels instead of traditionally used ecologically-unfriendly oil, LPG, heating oil. Research team has prepared the recommendations for maximisation of production of bio-fuels components in existing circumstances in Ukraine today.        

In September, 2007, Sharp Arrow Holdings Limited (Cyprus) acquired more than 50% of shares in JSC "Bank Kyivska Rus" (Ukraine) becoming its strategic shareholder, as well as 100% shares in CJSC "Insurance Company Kyivska Rus". DLA Piper Ukraine LLC acted as a sole legal advisor to the Sharp Arrow Holdings Limited / GML under English and Ukrainian law in the deal.

During the second half of 2007 DLA Piper Ukraine LLC provided full legal support to Apollo Real Estate Advisors, a leading American real estate fund, and its partner 1849 plc, with regard to acquisition of land and construction projects in several Ukrainian cities – Poltava, Zaporozhie and Chernovtsy.    

In November, 2007, Landkom International PLC, an Ukrainian producer of Oilseed Rape (raw material for production of biodiesel) and Wheat implemented its initial public offering (IPO) at the Alternative Investment Market (AIM) of the London Stock Exchange. As the result of the IPO the company attracted GBP 54 million (USD 110,5 million), excluding listing expenses. Market capitalisation of the company will comprise USD 200,6 million.   

International charitable foundation “Child’s Heart” and “Procter & Gamble Ukraine” launched a new project called “Give a Piece of Your Heart” Nowadays, the problem of providing emergency cardiac care for little patients with heart diseases is very acute in Ukraine. Annually there are about five thousand children born with inborn anomaly of cardiovascular system, 30-40% of them are in critical condition from first days and months of their lives. Without cardio surgical interference 42% of little patients pass away in childhood (till turning 18 years), with 90% of children till turning 1 year. The only way to save children with inborn heart defects is to operate them, which requires the highest level of doctors’ qualification and proper technical equipment of medical establishment. 

At the end of summer 2007 Black Sea Trade and Development Bank provided a secured loan of USD 20 million to Open Joint Stock Company "Concern Galnaftogaz" which is a Ukrainian gas filling stations operator. DLA Piper Ukraine LLC acted as a legal counsel to the bank.     

NEW YORK, KYIV, 9 NOVEMBER 2007 – The greatest strategic challenge facing leading global businesses in 2008 will continue to be regulatory and compliance risks, says a new report published by leading professional services provider Ernst & Young.