Business news from Ukraine

Business news from Ukraine

Zelensky announced that soon government will launch contracts for recruitment of 18-24-year-olds into army

President Volodymyr Zelensky announced that the government will soon launch contracts for the recruitment of 18-24 year olds into the Armed Forces of Ukraine.

“Next week, the government intends to launch lucrative recruitment contracts to attract young people aged 18-24 – up to draft age – to the Armed Forces to help eliminate labor shortages,” he told Reuters.

However, Zelensky declined to say how many men are expected to sign up.

As reported, the special representative of US President-elect Donald Trump, Mike Volz, believes that to stabilize the front in Ukraine it is necessary to lower the mobilization age, which would allow to call into the army “hundreds of thousands of new soldiers”.

Earlier, Zelensky commented on the discussion on lowering the mobilization age in Ukraine, pointing to the understaffing of Ukrainian brigades and the lack of weapons.

 

 

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Schneider Electric has introduced Galaxy VXL, compact power protection system for data centers and AI systems

Schneider Electric, a global leader in energy management and automation, introduced the new Galaxy VXL uninterruptible power supply (UPS), which provides high-density protection for data centers, artificial intelligence (AI) systems and high electrical loads.

The new solution is designed to meet today’s demands for energy efficiency and compactness. Galaxy VXL not only reduces the cost of operation, but also maintains the resiliency of mission-critical systems such as AI and data centers that require a stable and reliable power supply.

Key benefits of Galaxy VXL

Compact design: The Galaxy VXL has a smaller footprint than similar solutions, making it ideal for installation in tight spaces.

High power density: Supports loads up to 1.5 MVA per module to meet the needs of the most power-intensive systems.

Versatility: The device is suitable for both large data centers and industrial plants requiring reliable power.

Reduced carbon footprint: Galaxy VXL meets high energy efficiency standards to help customers reduce their environmental impact.

Schneider Electric Ukraine CEO Mikhail Bubnov emphasized the importance of such innovations for the Ukrainian market:

“Galaxy VXL is a revolutionary solution that perfectly meets the requirements of modern data processing and artificial intelligence systems. We are pleased that Ukraine will be one of the first countries where this device will become available, allowing our customers to optimize their energy systems and ensure their uninterrupted operation”.

Galaxy VXL will soon be available on the Ukrainian market, offering advanced capabilities to optimize data center and industrial facilities. This device will complement Schneider Electric’s portfolio of solutions aimed at improving energy efficiency and sustainability of mission-critical systems.

Schneider Electric is a global leader in energy management and automation. The company develops integrated solutions for energy efficiency and sustainability, driving digital transformation across industries. With more than 180 years of history, Schneider Electric continues to innovate to create a sustainable future.

Schneider Electric began its operations in Ukraine in 1994, opening representative offices in Kiev, followed by Donetsk, Mykolaiv and Lviv. In 2000, Schneider Electric Ukraine LLC was established with a commercial structure and warehouse, which allowed the company to strengthen its presence in the Ukrainian market and provide customers with a wide range of solutions in the field of energy management and automation.

https://www.se.com/ua/uk/

 

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Schneider Electric unveils innovative solutions for sustainability and energy based on artificial intelligence

Schneider Electric, a leading global expert in energy management and automation, has unveiled a range of innovative solutions to address pressing energy and sustainability issues using artificial intelligence. The innovations were presented at the International Conference on Digital Transformation and Sustainable Development held in Paris.

Some solutions included innovations such as:

EcoStruxure Energy Hub – an intelligent energy management platform that allows companies to monitor resource consumption in real time and optimize their use to reduce their carbon footprint.

AI-Powered Grid Manager – an energy grid management system that uses artificial intelligence to analyze data and predictive control to improve the resilience and reliability of energy systems.

Green Building Suite – building optimization software to improve energy efficiency and reduce operating costs.

Smart Charging Station System for Electric Vehicles – a solution that integrates charging infrastructure with power grids and increases the efficiency of renewable energy sources.

According to Mikhail Bubnov, CEO of Schneider Electric Ukraine, these technologies will soon be available on the Ukrainian market.

“We are proud that our solutions presented in the global arena will be available to Ukrainian customers in the near future. This will enable the introduction of advanced technologies for energy management and automation, contributing to the sustainable development of the country and improving energy efficiency,” said Mikhail Bubnov.

According to the company’s forecasts, the use of such solutions in the Ukrainian market will contribute to improved energy management, cost reduction and transition to more environmentally friendly energy sources. This is especially important in the context of current challenges associated with the global energy crisis and the need to adapt to the standards of sustainable development.

Schneider Electric is a global leader in energy management and automation. The company develops integrated solutions for energy efficiency and sustainability, driving digital transformation across industries. With more than 180 years of history, Schneider Electric continues to innovate to create a sustainable future. Schneider Electric began its operations in Ukraine in 1994, opening representative offices in Kiev, followed by Donetsk, Mykolaiv and Lviv. In 2000, Schneider Electric Ukraine LLC was established with a commercial structure and warehouse, which allowed the company to strengthen its presence in the Ukrainian market and provide customers with a wide range of solutions in the field of energy management and automation.

https://www.se.com/ua/uk/

 

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Greenland’s ruling party leader wants faster referendum on independence from Denmark

The process of Greenland’s independence from Denmark should be accelerated and the people of Greenland should be heard in a referendum during the next election, Greenland’s ruling Siumut party chairman Erik Jensen said.

“We want to achieve this (independence). That is our ambition. But of course it has to be in close cooperation with the people of Greenland. And that is very important. So that everyone has no doubts about what to vote for,” Jensen told Danish Radio.

The party has reportedly been divided in recent weeks after some of its members demanded the activation of Section 21 of the Self-Government Act, which outlines the path to Greenland’s independence. That initiative has now been backed by Jensen.

The party had previously cited that the commission was exploring a legal path to statehood, but Jensen said he would simultaneously activate Article 21 and begin talks with Danish Prime Minister Mette Frederiksen. “We have the work of the commission. We can also do something in parallel, we can activate Article 21 and start talks with the Danish government. This is what we will campaign on,” he said.

The chairman of Greenland’s ruling party is confident that the activation of Article 21 and negotiations with Denmark should lead to a referendum in Greenland, and it will not take long.

He cited decolonization and equality among his motives for declaring independence. “We want to be all treated equally. We haven’t had that for many years. We have many of our fellow citizens in Greenland who have been treated unequally. We want to be decolonized,” Jensen said.

As reported, the Prime Minister of Greenland – a self-governing territory of Denmark – Muthe Egede called for a vote in the Greenlandic Parliament on March 11.

Earlier, US President Donald Trump repeatedly expressed territorial claims to Greenland. In response, the Danish government announced its intention to strengthen its military presence in the Arctic and North Atlantic by purchasing three new ships for the waters around Greenland, long-range drones and satellites at a cost of almost 2 billion euros. Earlier Experts Club think tank, Brian Mefford and Maxim Urakin released a video analysis on what changes are in store for US domestic and foreign policy under Trump, the video is available on Experts Club’s YouTube channel – https://youtu.be/W2elNY1xczM?si=MM-QjSqGce4Tlq6T.

 

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Ukraine’s Accord Import is investing $14 million to build new furniture plant

Cabinet furniture manufacturer Accord Import (Khmelnytsky) will expand its production capacity by almost three times by building a new plant in Khmelnytsky, where it plans to create 140 jobs, according to Dmytro Kysylevsky, deputy chairman of the Verkhovna Rada Committee on Economic Development.

“Construction of a new cabinet furniture plant has started in Khmelnytsky. The project’s investor is Accord Import. After the launch of the new plant, its production capacity will increase from 420 thousand square meters to 1.2 million square meters of cabinet furniture per month. This will allow the company to enter the top 5 manufacturers of cabinet furniture in Europe,” he wrote on his Facebook page on Tuesday.

According to the MP, the amount of investment in the new project is $14 million. The launch of the first production lines is scheduled for July 2025, and the new plant should reach full capacity in September.

Kysylevsky noted that a 1.1 MW solar power plant has been built and an additional 2.8 MW is under construction to meet the electricity needs, and a gas piston plant has been purchased.

“At present, the existing Accord Import facility is 100% utilized. About 70% of the company’s cabinet furniture orders come from the international retail chain JYSK, which in 2025 increased the volume of cabinet furniture orders from Ukraine by a third,” Kysylevsky wrote.

According to the company’s Facebook page, Raiffeisen Bank has extended the term of the credit line under this contract, which was granted at the end of 2023, and the term of the ECA insurance contract for Accord Import.

“Thus, Raif and ECA have supported furniture exports for 2025 to Denmark, the Netherlands, Hungary, Bulgaria, Poland, Sweden, Germany and Spain,” the company wrote.

According to Kysylevsky, in general, Accord Import exports 96% of its products to the EU countries, and the launch of the new plant will expand the geography of exports to the Middle East, South Asia, and South America.

The MP also clarified that the owners of Accord Import, the Grabar family, started out as furniture importers, while now it is Ukraine’s largest exporter of cabinetry.

He also added that to replace the imports of cellular cardboard used by the company for furniture packaging, another company is currently under construction in Khmelnytskyi region to produce this product

. “And the supplier of wooden boards for Accord Import is Kronospan, which recently launched a production line in Rivne region,” Kysylevskyi added.

According to the Clarirty Project, Accord Import LLC was registered in Khmelnytskyi in August 2015. The company’s authorized capital is UAH 42.105 million, and the owners are Mykola, Ruslan, and Vadym Hrabar in equal shares.

In January-September 2024, the company increased its net profit by 23% compared to the same period in 2023 to UAH 120.6 million, with net revenue growing by 27% to UAH 1 billion 271 million.

 

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“Express Insurance” in January collected insurance premiums in amount of more than UAH 100 million

IC “Express Insurance” (Kiev) in January 2025 collected insurance premiums in the amount of UAH 102.6 million, which is 71.9% more than in January 2024. According to the insurer’s website, in January payments amounting to more than UAH 34,4 mln were made, which is by 17% more than in the same period of 2024.

Including payments on hull insurance amounted to UAH 27 million (+5.3%), on MTPL – UAH 6.8 million (more in 2.4 times), payments on other insurance contracts – UAH 660 thousand.

“The growth of payouts on MTPL is a direct result of clients’ confidence in the company and increase in the number of concluded contracts”, – is noted in the message.

ALC “Express Insurance” was founded in 2008 and is part of the group of companies “UkrAVTO”. The company specializes in automobile insurance. Stably high speed of events settlement in IC is provided by optimal interaction with partner service stations.

Since April, 2012 IC “Express Insurance” is an associated member of the Motor Transport Insurance Bureau of Ukraine.

 

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