Russian troops have taken over the site of one of Ukraine’s most valuable lithium deposits near the village of Shevchenko, Donetsk Oblast, as Russia ramps up its summer offensive. While Ukrainian troops control territories near the site, the deposit is now under Russian occupation, Roman Pohorilyi, founder of open-source
When John Denton first visited Ukraine weeks into Russia’s full-scale invasion in 2022, he knew that for the country to survive, businesses needed to stay alive. Denton is the secretary general of the International Chamber of Commerce, the world’s largest business organization. Active in 170 countries, the organization
Once the playground of disgraced Ukrainian politicians, a golf club in Kyiv’s Soviet-era Obolon neighborhood is now set to become the new campus of the Kyiv School of Economics, which last month bought the site for $18 million as part of a $40 million investment — the largest private investment
The end of the European Union’s tariff-free trade preferences for Ukrainian agricultural products is more than just a policy change, it’s a wake-up call. For years, the EU has served as the largest and most reliable market for Ukraine’s agricultural exports. But as Brussels rolls back preferential
Ukrainian weapons startups are finally seeing an inflow of funds from Western investors who have long been intrigued by the Ukraine's defense tech sector but have so far kept their money out of the war-torn country. Financial analysis firm Pitchbook provided the Kyiv Independent with data showing a four-fold rise
Ukraine’s inflation rate is expected to peak at 15% by mid-2025 before dropping to 8.4% by year's end, Ukraine’s Central Bank said on Jan. 31.
The following is the Jan. 29, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine's largest private energy company, DTEK, announced plans on Jan. 22 to invest 450 million euros ($468 million)
Huless, a Ukrainian company developing tethered drone systems, secured over $1 million in private financing, loans, and a grant from Ukrainian Defense Tech cluster Brave1, the company said in a press release on Jan. 30.
Ukraine's largest private delivery company Nova Poshta invested Hr 1.8 billion ($43 million) to expand its Ukrainian network in 2024, a 35% increase from 2023, the company announced on social media.
In 2024, 233 generating units with a total capacity of over 830 MW were connected, including gas turbines, pistons, and cogeneration units.
"The commitment is the largest private sector investment in Ukraine since russia’s full-scale invasion in 2022 and the biggest ever private investment in Ukraine’s energy sector," DTEK said in a press release.
President Volodymyr Zelensky met leading American and European executives and business leaders at the World Economic Forum in Davos, Switzerland, on Jan. 22, emphasizing Ukraine's investment potential and the importance of international support in achieving a just peace.
In early 2022, the Ukrainian team of an Austrian wood processing company held a meeting in a bomb shelter during an air raid alert. Despite a Russian strike nearby, their focus wasn't on relocation but on building a new logistics center in the country. A year later, their determination paid
The Danish model is a partnership that enables Kyiv to secure funding from allies specifically for its defense production.
When Chicagoan Chris Exline decided to expand his furniture rental company to Ukraine, he did not expect to relocate his life to a small town of 20,000 people in Ternopil Oblast. The businessman and CEO of Home Essentials initially planned to rent furniture to expats and organizations flooding in
Arvid Tuerkner’s first winter in charge of the European Bank for Reconstruction and Development in Ukraine comes with a daunting task: swiftly mobilize investment into energy companies crippled by two years of Russian attacks. Russia began targeting Ukraine’s energy infrastructure in late 2022 and has since then pounded
Ukraine is still far from an investor's paradise, but increasingly valuable business deals are being signed in the war-torn country this year. In the first nine months of 2024, there were 36 Ukrainian mergers and acquisitions (M&As) with a total estimated value of $643 million, according to a new
The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) provided $435 million long-term debt for Datagroup-Volia-Lifecell, a recently merged Ukrainian telecom company, to improve telecoms service quality, the EBRD said on Oct. 10.
Ukraine has become a hotbed of defense innovation, as Russia’s deadly invasion fuels a rapid development of new battlefield technologies. Kyiv now aims to become a global leader in the defense sector, but with its economy drained by the war, it needs foreign investment to accomplish its goal. Ukraine
The following is the July 30, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Business and government in Ukraine are
Investors have mostly stayed away from Ukraine since the start of the full-scale invasion, but the tides are turning, according to a new report from KPMG Ukraine, an accounting organization based in Kyiv. The first half of 2024 saw 25 mergers and acquisitions (M&As) bringing in $510 million, up
Swedish furniture giant Ikea decided in May to make plans to reopen its store in Kyiv, Forbes Ukraine reported on June 27, citing two managers of shopping centers and two commercial real estate consultants.
President Volodymyr Zelensky thanked Singapore’s clear stance on the war in Ukraine and discussed prospects of bilateral relations with his Singaporean counterpart, Tharman Shanmugaratnam, the President's Office said.
Ukraine is set to receive a grant in support of hospital reconstructions, worth 5 million euros ($5.3 million), from the Eastern Europe Energy Efficiency and Environment Partnership (E5P).
The European Investment Bank (EIB) is in talks to invest in defense companies amid heightened urgency to scale up Europe's defense industry, Bloomberg reported on March 13.
The start of Russia’s full-scale invasion of Ukraine was an unlikely place for investment. Russian attacks all over the country were destroying critical infrastructure, factories, and homes. The economy took a major hit, with GDP falling 29% that year. The European Bank for Reconstruction and Development, which has been
Private equity firm Horizon Capital has attracted $350 million to support Ukrainian businesses through the Horizon Capital Growth Fund IV (HCGF), the company announced on Feb. 23.
The streets of Kyiv offer a staggering contrast with alarming headlines from the West. Traffic jams keep clogging the Ukrainian capital, people keep flocking shops, and “coming soon” business signs keep appearing at every corner. For many of Ukraine’s foreign investors and local companies, it’s business as usual,
The U.S. cellphone chip manufacturer Qualcomm has acquired Ukraine-founded startup Augmented Pixels for an undisclosed amount, Forbes Ukraine reported on Jan. 15. Augmented Pixels, founded by Ukrainian Vitaliy Goncharuk, develops virtual and augmented reality software. The company hasn't yet published an official statement about the acquisition, but it changed
Ukrainian startup Awesomic has attracted $2 million of investment to grow its service, which matches web designers with online businesses, according to its co-founder Stacy Pavlyshyna. Awesomic wants to use the money to expand its team to 50 people and attract more designers to its website. Among the company's investors
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