1. Ukraine has undertaken the commitment to gradually lift temporary currency restrictions following the normalization of the situation and consultations with IMF experts. The National Bank of Ukraine (NBU) has started working on a roadmap for the gradual easing of currency restrictions to transition from the currency regulation regime that was in place during the beginning of the full-scale invasion.

2. According to a survey conducted by the European Business Association, government support programs are not widely popular among small and medium-sized business representatives. Difficulties in obtaining credit, large initial deposits, refusal without explanation, and lack of coverage for many business categories contribute to the unpopularity of these programs.

3. Small and medium-sized businesses are increasingly feeling the negative impact of the economic consequences of russian aggression. Over the past year, the financial and economic indicators of small businesses have been worse than the situation in large enterprises. Only 6% of entrepreneurs have not suffered any damage so far, while in October, 10% were operating without losses.

4. The “BLANCHE” soft furniture factory continues to expand its range with new model releases, including premium-class collections. For example, the APPIANI collection emphasizes a podium made of natural ash wood that undergoes minimal processing. This technology allows for showcasing the natural pattern and beauty of the wood to the fullest extent.

5. In Wels, Austria, the company “XXXLutz,” the number one in the Austrian furniture industry, recently opened the most modern furniture store in Europe after reconstruction. The store covers an area of approximately 22,000 square meters. The grand opening celebrations of the retail giant lasted for three days in the city.

6. For several years now, the Scandinavian chain “JYSK” has been selling furniture made from recycled materials, certified according to the European “Global Recycled Standard.” GRS is an international voluntary certification standard that verifies recycled materials and tracks their use from processing facilities to the final product.

7. Due to significant raw material price increases in Europe, European furniture companies are exploring opportunities to purchase wood at lower prices from various regions worldwide. In this regard, they are targeting a visit to the largest timber fair in Malaysia, the “Malaysian Wood Expo 2023,” which will take place from June 16th to 23rd.

8. Shortly after American designers Charles and Ray Eames created their famous Shell chair, they hosted the renowned cartoonist Steinberg, who humorously drew a cat on it. The company “Virta” recalled the chair, which has become a rarity, and decided to reproduce it in a limited series of 500 pieces.

9. The first quarter confirmed the trend of declining demand for Italian woodworking machinery and technology. This year, sales have already dropped by 25% compared to the previous year, attributed to reduced demand from international markets (down 20.6%) and significant contraction in the domestic market (minus 38.9%).

10. “British Furniture Manufacturers” plans to launch a new specialized exhibition, the “Furniture Component Expo,” next year to provide furniture manufacturers with the opportunity for closer acquaintanceship, establishing mutually beneficial relationships, and purchasing everything necessary for furniture production. The event will take place at the Telford International Centre on April 24th and 25th.