Raiffeisen Bank has granted the “Pan Kurchak” group a 350 million hryvnia loan to rebuild a factory destroyed by a fire in 2024; 50% of the loan risk is covered by a guarantee from the European Bank for Reconstruction and Development (EBRD) under the Extended Guarantee of the RSF Ukraine Investment Facility.
According to a correspondent for the “Interfax-Ukraine” news agency, the relevant documents were signed on the sidelines of the URC 2026 Conference on Ukraine’s Recovery, which took place in Gdańsk on June 25–26.
According to the report, the loan will be used to reconstruct the plant and install modern, energy-efficient equipment. The project is expected to strengthen the company’s position in the domestic market and enhance its operational resilience.
This is the first project to benefit from the new RSF Extended Guarantee.
As previously reported, the “Pan Kurchak” agro-industrial group was founded in 2001. It is engaged in crop cultivation, the production and sale of compound feed, broiler and pig breeding, and meat processing.
The agribusiness group includes “Western Agrarian Company” (which cultivates 16.7 thousand hectares), “Agrotechnika” LLC (which operates two compound feed mills, an oilseed processing plant, and four grain elevators), “Agidel” LLC (which maintains a parent flock of poultry with a production capacity of 32 million eggs and a broiler complex for 10,000 birds), VMP LLC (processes meat, produces sausage products and semi-finished meat products), Gubin Poultry Complex LLC (operates six farms with an annual capacity of 14 million head of poultry). All of the group’s production facilities are located in the Volyn region.
“Pan Kurchak” also operates a chain of branded stores called “M’yasna Tochka” and “Smarty” (Ukrainian Retail Networks LLC).
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the group is owned by Serhiy and Ivanna Martyniak.
As of the end of June, state-owned Oschadbank had formed a pipeline of 32 municipal projects with a total value of EUR74 million, according to Natalia Butkova-Vitvitska, a member of the bank’s board responsible for micro, small, and medium-sized businesses, during the Ukraine Recovery Conference (URC 2026) in Gdańsk.
Of these, 26 projects are planned for small towns and villages in the small and medium-sized business segment, while another six are for large regional centers in the corporate segment.
The projects focus, in particular, on modernizing water supply and wastewater systems, upgrading public transportation and municipal infrastructure, improving the energy efficiency of buildings, restoring social facilities, and strengthening the energy resilience of communities.
According to Butkova-Vitvitskaya, one of the main constraints on municipal financing remains the inadequate preparation of projects. Communities need technical assistance in developing feasibility studies, conducting energy audits, assessing ESG risks, and preparing projects for bank financing.
She believes that international risk-sharing mechanisms for infrastructure and energy projects should be designed for a term of at least 10 years, while financing for communities should be available for up to 20 years.
Among other necessary measures, the Oschadbank representative cited the simplification of procurement procedures, the expansion of grant programs, the provision of guarantees by the government and international financial organizations, and training for municipal teams.
According to the bank, about 1,000 of more than 1,400 Ukrainian communities are creditworthy. The total volume of municipal borrowing in recent years has reached nearly EUR2.7 billion, of which EUR1.1 billion came from the domestic market and over EUR1.6 billion from international financial organizations.
Oschadbank estimates its share of the municipal lending market at approximately 39%.
According to the National Bank, as of May 1, 2026, Oschadbank, with total assets of 534.47 billion UAH, ranked second among the country’s 58 solvent banks.
“Ukrzaliznytsia” continues to modernize its rolling stock; new passenger cars manufactured in Ukraine have already been added to the train set for Train No. 29/30 Kyiv–Uzhhorod, Ukrzaliznytsia announced on Saturday.
These cars will immediately begin service today on Train No. 4/3 from Uzhhorod to Dnipro, and taking into account the cars received a month earlier, there are now six new cars operating on the Kyiv–Uzhhorod–Dnipro route, according to a Telegram post.
The cars are equipped with high-capacity rechargeable batteries, which allow the air conditioners to operate even during prolonged stops in hot weather. The compartments also feature power outlets, tables for passengers in the upper berths, buttons to call the conductor, and modern lighting. The restrooms are equipped with changing tables and child seats.
As noted, Ukrzaliznytsia has received a total of 18 new passenger cars since the beginning of the year.
Global cocaine production has reached a historical maximum: in 2024, about 4.1 thousand tonnes of pure cocaine were produced in South America, according to the new World Drug Report 2026 of the United Nations Office on Drugs and Crime.
According to UNODC’s estimate, the figure is in the range of 3.8 thousand to 4.7 thousand tonnes and is more than four times higher than the 2014 level. This makes the cocaine market one of the fastest-growing segments of the global illegal drug economy.
The UN notes that the growth in production is accompanied by the expansion of supply routes, changes in logistics and a high level of violence in countries of origin and transit. South America remains the main production region, while the main countries associated with coca cultivation and cocaine production are Colombia, Peru and Bolivia.
Colombia remains a key link in the global market. According to UNODC, in 2024 it was in Colombia that 966 tonnes of cocaine were seized, which accounts for about 40% of global seizures. It follows from this that the total volume of cocaine seizures in the world in 2024 could have amounted to about 2.4 thousand tonnes. At the same time, seizures do not reflect the entire volume of the market, but only the part that law enforcement agencies were able to intercept.
Demand also remains high. According to UNODC, in 2024 about 25 million people worldwide used cocaine. This places it after cannabis, opioids and amphetamines among the most widespread groups of drugs.
North America remains the largest cocaine market. According to the UN estimate, in 2024 about 6.5 million people in North America used cocaine, or 2% of the population aged 15-64. Western and Central Europe is considered the second-largest market, where demand for cocaine has grown significantly over the past decade. South America and individual countries of Oceania also remain significant markets.
In Europe, according to the European Union Drugs Agency, in 2024 EU countries reported 97 thousand cocaine seizures with a total volume of 330 tonnes. Spain, France and Belgium accounted for 67% of this volume. Spain seized 124 tonnes, France — 53.5 tonnes, and Belgium — 44.6 tonnes. Significant volumes were also recorded in the Netherlands, Germany, Portugal and Italy.
European data show that the market is changing its routes. A decrease in the volume of seizures in Belgium, Germany and the Netherlands does not necessarily mean a reduction in supplies. EUDA indicates that this may reflect a change in methods and points of entry amid strengthened controls in major ports.
A separate trend is the emergence of processing and packaging facilities already inside Europe. In 2024, six EU countries reported the dismantling of at least 42 facilities linked to the production or processing of cocaine. This suggests that the market is becoming more complex: part of the operations is being moved closer to consumers in order to conceal supplies and increase profitability.
The price of cocaine in the world strongly depends on the region, the degree of risk, the distance from producing countries and the level of law enforcement pressure. In countries of origin, the cost is significantly lower, while in distant markets, especially in Europe, North America and Oceania, the final price may be many times higher. The UN and European agencies record not so much a single global price as a general trend: amid growth in production and supplies, the purity of the product at the retail level in Europe has increased, while the price index has declined over the past decade.
As a result, cocaine remains not only a public health problem, but also a factor of organized crime, corruption, violence and destabilization of legal economies.
According to “Serbian Economist”, the Vetëvendosje movement led by incumbent Prime Minister Albin Kurti came in first in Kosovo’s early parliamentary elections, but failed to secure an outright majority in the 120-seat parliament.
According to Kosovo’s Central Election Commission, Vetëvendosje received 47.13% of the vote and won 53 seats. At least 61 seats are needed to form a government.
The Democratic Party of Kosovo (PDK) came in second with 19.44% and 22 seats. The Democratic League of Kosovo (LDK) received 16.69% and 18 seats, while the Alliance for the Future of Kosovo (AAK) received 6.74% and 7 seats.
Of the 20 seats reserved for national minorities, the Serbian List won 9 seats. The Democratic Turkish Party of Kosovo won 2 seats, with the remaining minority seats distributed among other political forces.
For Kurti, the result looks like a victory, but not a way out of the political impasse. His party remains the largest political force, but to form a stable government, it will need the support of minority parties or broader agreements. The issue of electing a president remains particularly complex, as the first rounds require the presence of at least 80 deputies.
It was precisely the presidential issue that triggered the current crisis. After the previous elections, the parties were unable to agree on a presidential candidate, parliament was dissolved, and Kosovo held yet another early election. This is already the third parliamentary election in less than a year and a half.
This sends an important signal to the region’s economy. Prolonged political instability in Pristina hinders the work of institutions, complicates access to international funds, and impedes progress toward EU and NATO membership. For Serbia, the key issue remains not only the composition of the new government but also whether Pristina will be ready for substantive dialogue on northern Kosovo, Serbian municipalities, trade, and security.
For Belgrade, Kurti’s victory means the continuation of a hardline political stance in Pristina. It was under his government that relations with Serbia remained tense, and the Kosovar authorities’ actions in the north provoked a sharp reaction from the Serbian side and criticism from some Western partners.
From an economic standpoint, the continuation of the crisis in Kosovo is detrimental to the entire region. Instability reduces predictability for investors, complicates transport and trade links, hinders infrastructure projects, and creates political risk for companies operating between Serbia, North Macedonia, Albania, Montenegro, and the EU.
Kosovo declared independence from Serbia in 2008, but Belgrade does not recognize this status and considers Kosovo and Metohija to be part of its territory. Kosovo has been recognized by the United States and most EU countries, but it is not a member of the UN due to the position of Serbia and its allies, notably Russia and China.
Kosovo’s independence is also not recognized by a number of major countries and EU member states, including Russia, China, India, Brazil, Indonesia, Ukraine, Spain, Greece, Romania, Slovakia, Cyprus, Bosnia and Herzegovina, and South Africa. Of the 27 EU countries, five do not recognize Kosovo: Spain, Greece, Romania, Slovakia, and Cyprus.
OpenAI is considering postponing its initial public offering until 2027, Reuters reports, citing The New York Times.
According to the NYT, the company’s advisors have presented management with two possible scenarios: go public earlier but accept a lower valuation, or wait until 2027 to try to maintain a target valuation of up to $1 trillion.
Sources familiar with the matter told the publication that OpenAI has already hired financial advisors and lawyers to prepare for the IPO and had previously been targeting a listing in the third or fourth quarter of 2026. However, the advisors warned management that, given the volatility of the tech market, investors may be less willing to support a listing at the highest possible valuation.
According to the NYT, OpenAI CEO Sam Altman opposed lowering the target valuation and insisted that the consultants explore the possibility of taking the company public at a valuation of around $1 trillion. OpenAI’s most recent private valuation, according to media reports, was approximately $730 billion.
Reuters also notes that OpenAI had previously considered filing with regulators in the second half of 2026. Initial discussions centered on raising at least $60 billion, though the timing, size of the offering, and valuation could change depending on market conditions and the company’s growth rate.
OpenAI’s potential IPO could become one of the largest offerings in the history of the tech sector and a major test for the entire artificial intelligence market. Investors will evaluate not only revenue growth rates but also spending on computing infrastructure, dependence on major partners, competition with Google, Anthropic, Meta, and other players, as well as the company’s ability to monetize demand for AI services.
The delayed IPO may also send a signal to the broader market: despite high interest in artificial intelligence, investors are becoming more cautious about the valuations of fast-growing AI companies. Following strong growth in the tech sector, the market increasingly demands not only user scale and technological leadership but also a clear financial model.
OpenAI was founded in 2015 and became one of the key players in the global artificial intelligence market following the launch of ChatGPT. The company develops the GPT family of models, enterprise AI products, developer tools, and infrastructure partnerships to scale computing power.
