Our next meeting will be on 27 November.
This meeting will focus on the impacts on the current economic situation
We have invited various British expats to come and share their views on what it means for their businesses in Ukraine.
For example, in my business of property, we actually think the positive outcome will be that many Ukrainians will now understand that they MUST learn the importance of negotiating on price. Gone are the days of demanding a price and expecting to get it.
This will be an interesting meeting.
15 November 2008
09 November 2008
Another Success for the BBCU
Our meeting on 30 October was very well attended, 83 people (even I was suprised).
Our theme of Business Services Outsourcing went down well, sponsored in part by UCMS - Workforce Management Soluction, they did a great job plus I think many of the people came to find out whats happening in these interesting times we are all facing.
It was noted that many people stayed late and all the drink was consumed!!!!.
So onwards to the success of the BBCU, I am sure we can get to the end of the year in great shape (or at least much better than last year)
Must organise a Christmas event before its too late.
Our theme of Business Services Outsourcing went down well, sponsored in part by UCMS - Workforce Management Soluction, they did a great job plus I think many of the people came to find out whats happening in these interesting times we are all facing.
It was noted that many people stayed late and all the drink was consumed!!!!.
So onwards to the success of the BBCU, I am sure we can get to the end of the year in great shape (or at least much better than last year)
Must organise a Christmas event before its too late.
26 October 2008
Ukraine current situation + October Meeting
Sunday 26 October 2008
During the past few weeks Ukraine has had a few ups and downs, mainly downs.
The national currency, the Hryvna (UAH) has fallen against the USD and other currencies.
The IMF are considering granting a loan to the country of around $15billion.
Some Ukrainian banks suffered from a 'run on' by depositors about fears of a banking collapse.
Indeed many banks have restricted the flow of funds on instructions from the National Bank of Ukraine.(NBU)
Many Ukrainains have enjoyed the ease of obtaining mortages in hard currency, usually USD.
Now they have the problem of significantly higher repayments, as they are obliged to repay in USD and not UAH.
If the NBU allows the UAH to float freely on the exchange market it could be the end to the good old days of when the UAH was sat nicely at 4.85 to USD 1
Moreover, we have the added opportunity and problem of an impending parliamentary election on 15th December. The President has called an early election and the country is facing a third set of elections in as many years. Probably the last things Ukraine needs right now is another election. The people are tired of the political situation and many forecast the turnout will be low.
Anyhow.....the next BBCU meeting will be on Thursday 30 October in our usual meeting place in Kyiv. The theme: Business Services Outsourcing.
During the past few weeks Ukraine has had a few ups and downs, mainly downs.
The national currency, the Hryvna (UAH) has fallen against the USD and other currencies.
The IMF are considering granting a loan to the country of around $15billion.
Some Ukrainian banks suffered from a 'run on' by depositors about fears of a banking collapse.
Indeed many banks have restricted the flow of funds on instructions from the National Bank of Ukraine.(NBU)
Many Ukrainains have enjoyed the ease of obtaining mortages in hard currency, usually USD.
Now they have the problem of significantly higher repayments, as they are obliged to repay in USD and not UAH.
If the NBU allows the UAH to float freely on the exchange market it could be the end to the good old days of when the UAH was sat nicely at 4.85 to USD 1
Moreover, we have the added opportunity and problem of an impending parliamentary election on 15th December. The President has called an early election and the country is facing a third set of elections in as many years. Probably the last things Ukraine needs right now is another election. The people are tired of the political situation and many forecast the turnout will be low.
Anyhow.....the next BBCU meeting will be on Thursday 30 October in our usual meeting place in Kyiv. The theme: Business Services Outsourcing.
27 September 2008
Real Estate in Ukraine
Our September meeting last night was another great success.
Kindly sponsored by EFG Property Services Ukraine and NAI Pickard, presentations were made regarding the current state of the property market in Ukraine, plus the importance of obtaining accurate valuations.
93 people attended and the formal part of the evening was as usual followed by drinks and buffet and lively discussions.
It was commonly agreed by many members that the residential property market has cooled down in Kyiv and in the middle segment we may seem some price reductions next year as a result of more people looking to buy in "Cottage Housing" in the far suburbs or in villages.
Better value for money and a real garden are some of the reasons why people are moving "outward from the city centre".
However, Kyiv city centre prices for prime locations will probably remain the same. Housing in the heart of Kyiv will continue to be attractive as a safe investment.
Regarding commercial property, it was agreed that we will continue to see the boom across office, retail, industrial (mainly warehousing) and land. The demand for offices and retail sites continues to outstrip supply even after the recent political events.
Political instability is now a norm in Ukraine and doe snot appear to be of great concern to the vast majority of Ukrainians. Perhaps it is we foreigners who worry about it more. But foreign companies are continuing to enter Ukraine as it is still seen as one of the few remaining economies offering high returns. The risks are still here. But what would life be without risks?
Kindly sponsored by EFG Property Services Ukraine and NAI Pickard, presentations were made regarding the current state of the property market in Ukraine, plus the importance of obtaining accurate valuations.
93 people attended and the formal part of the evening was as usual followed by drinks and buffet and lively discussions.
It was commonly agreed by many members that the residential property market has cooled down in Kyiv and in the middle segment we may seem some price reductions next year as a result of more people looking to buy in "Cottage Housing" in the far suburbs or in villages.
Better value for money and a real garden are some of the reasons why people are moving "outward from the city centre".
However, Kyiv city centre prices for prime locations will probably remain the same. Housing in the heart of Kyiv will continue to be attractive as a safe investment.
Regarding commercial property, it was agreed that we will continue to see the boom across office, retail, industrial (mainly warehousing) and land. The demand for offices and retail sites continues to outstrip supply even after the recent political events.
Political instability is now a norm in Ukraine and doe snot appear to be of great concern to the vast majority of Ukrainians. Perhaps it is we foreigners who worry about it more. But foreign companies are continuing to enter Ukraine as it is still seen as one of the few remaining economies offering high returns. The risks are still here. But what would life be without risks?
31 August 2008
Summer Ends- Hello September
Well, what an interesting August. Like many people I spent a lot of time watching the events in Georgia via TV. The 24 August Independence Day celebrations here in Kyiv were unusual as we saw a display of Ukrainains miltary machines along the main streets.
There is much talk about how the EU will deal with the "Georgian crisis" and how they will react to Russia. Tomorrow, 1 Sept, a special EU Summit will be held to discuss this.
Many people now think its right o consider offering Ukraine speedy EU membership, as fears grow about possible conflicts between Russia and Ukraine.
Personally, I think EU membership can only benefit Ukraine, however I still think it is a long shot and it will be many years before Ukraine would join the EU. But who knows? Life is full of suprises. It would certainly help to do business easier in Ukraine if it ever does happen.
There is much talk about how the EU will deal with the "Georgian crisis" and how they will react to Russia. Tomorrow, 1 Sept, a special EU Summit will be held to discuss this.
Many people now think its right o consider offering Ukraine speedy EU membership, as fears grow about possible conflicts between Russia and Ukraine.
Personally, I think EU membership can only benefit Ukraine, however I still think it is a long shot and it will be many years before Ukraine would join the EU. But who knows? Life is full of suprises. It would certainly help to do business easier in Ukraine if it ever does happen.
03 August 2008
Onwards to September
Just as I thought. We asked many members about the next meeting and most people will be away on holiday during August. So our next meeting will be on 25 Sept - Theme - Real Estate in Ukraine.
One of the good things about living in Kyiv is that for the month of August the city is light on traffic as many people have gone away for the whole month.
Talking of holidays. I will be back in the UK from 5-18 August, so will try to enjoy the summer also.
One of the good things about living in Kyiv is that for the month of August the city is light on traffic as many people have gone away for the whole month.
Talking of holidays. I will be back in the UK from 5-18 August, so will try to enjoy the summer also.
20 July 2008
Our best event yet...just happened
The turnout for our July meeting was tremendous with over 125 people attending.
I think the subject of Golf did the trick, as people were really wanting to find out if it was true.
The good news is yes, it is for true and our members were impressed by the presentation from GV Group about heir plans for the development of 'Europe City" just outside Kyiv and of courtse the firsdt phase of the Golf Project willbe the opening of a 9 hole "Academy Course" in September followed by the full 18 hole course sometime in 2009.
The big question now is should we go ahead and hod the summer party in late August or will most people still be away on holiday?
I think the subject of Golf did the trick, as people were really wanting to find out if it was true.
The good news is yes, it is for true and our members were impressed by the presentation from GV Group about heir plans for the development of 'Europe City" just outside Kyiv and of courtse the firsdt phase of the Golf Project willbe the opening of a 9 hole "Academy Course" in September followed by the full 18 hole course sometime in 2009.
The big question now is should we go ahead and hod the summer party in late August or will most people still be away on holiday?
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