Business news from Ukraine

Business news from Ukraine

Trump’s son-in-law may seek up to EUR50 mln in damages from Serbia over collapse of hotel construction project

According to Serbian Economist, Jared Kushner’s company may demand up to EUR50 million in compensation from Serbia for failing to fulfill the terms of the contract regarding the construction of a hotel and residential complex on the site of the former General Staff building in central Belgrade, said Marinka Tepić, vice-chair of the opposition Freedom and Justice Party.

According to her, the contract between the Serbian government and Kushner’s company stipulated obligations on Serbia’s part regarding the preparation of the site for the project, but these were not fulfilled. Tepić claims that because of this, Kushner’s company may seek compensation of EUR50 million.

So far, this is merely a statement by an opposition politician, not a publicly confirmed lawsuit or an official claim by Kushner’s company.

The project involved the site of the former General Staff complex in Belgrade, which was damaged during the NATO bombings in 1999. The complex had long held cultural heritage status, but in 2024, the Serbian government removed its protected status, paving the way for the development project.

According to media reports, the Serbian side agreed to transfer the site to a company linked to Kushner under a long-term 99-year lease. The project called for the construction of a hotel, apartments, and office and commercial spaces in one of Belgrade’s most prominent locations.

The initiative sparked strong opposition from Serbian opposition groups, architects, and activists. For many Belgrade residents, the General Staff building remains not just a ruined structure in the city center, but a symbol of the 1999 NATO bombings and a reminder of Serbia’s modern history. Opponents of the project demanded that the complex retain its memorial and cultural status rather than be turned into commercial real estate.

The situation became more complicated following an investigation into the documents on the basis of which the complex was stripped of its cultural monument status. Serbian prosecutors had previously charged current and former officials in a case involving the possible forgery of documents used to remove the General Staff building’s protected status. Following this, Western media reported that Kushner had abandoned the project amid protests and legal issues surrounding the site.

Jared Kushner is an American entrepreneur, founder of the investment firm Affinity Partners, son-in-law of U.S. President Donald Trump, and former senior advisor to the White House during Trump’s first presidential term.

Serbian President Aleksandar Vučić sharply criticized the project’s collapse and stated that the country had lost a major investment.

According to him, the project involved at least EUR750 million in investments and thousands of jobs. Vučić promised to personally file criminal complaints against those who, in his words, participated in a “campaign” to destroy the project.

For Serbia, a potential claim for compensation marks a new phase in a politically sensitive case. On the one hand, the authorities presented the project as a major investment that could revitalize one of the most prominent locations in central Belgrade. On the other hand, opponents of the project believe that the state should not have transferred a symbolically important site to a private foreign investor for a hotel and commercial development.

The key question now is whether Kushner’s company will file a formal claim against Serbia and on what grounds. No official announcement from Kushner’s company regarding the filing of a lawsuit or a claim for EUR50 million has been published in open sources at this time.

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Kyivstar views cloud business as a key area of growth

Kyivstar, Ukraine’s largest mobile operator, views the cloud business as a key area for future growth; it recently launched its own cloud business and is seeking opportunities to expand it both organically and through acquisitions

“We recently launched our own cloud business in Ukraine, our own data center, and began commercializing it at the end of 2025,” Kyivstar CEO and President Oleksandr Komarov said on Thursday during a conference call regarding the operator’s Q1 2026 earnings report.

According to him, the company aims to prepare for the post-war growth of the cloud services market in terms of both the range of services and market share and existing capabilities.

“So this is a fairly important part of our business development,” noted Kyivstar’s CEO.

He clarified that currently, the company’s main business in this area is reselling Microsoft services and, to a lesser extent, Amazon services.

In late May, during the “Business Breakfast with Volodymyr Fedorin,” Komarov declined to comment on a possible acquisition of GigaCloud but also noted the group’s interest in strengthening its position in the cloud business.

In June 2025, the mobile operator launched its own cloud service for Ukrainian users, Kyivstar Cloud, which is available to small, medium, and large businesses, as well as public sector organizations.

In the first quarter of 2026, Kyivstar increased its EBITDA by 28.5% to UAH 7.5 billion, while revenue grew by 31.3% to UAH 13.9 billion.

According to the financial statements, revenue from the cloud service of the subsidiary Kyivstar.Tech rose from UAH 105 million to UAH 192 million.

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Ukrainian ports increased cargo throughput by 35.8% in April

In April 2026, Ukrainian ports handled 35.8% more cargo than in April 2025—8.2 million tons, the Ukrainian Sea Ports Authority (USPA) reported on Telegram on Friday.

“This occurred despite a significant increase in attacks on port infrastructure,” the statement noted.

According to USPA data, in total, from January to April 2026, Ukraine’s seaports handled 29.5 million tons of cargo, which is more than during the same period last year.

It is noted that grain accounted for the bulk of the cargo flow—16 million tons, which is 7% more than last year.

In April, over 500 UAV attacks on logistics infrastructure were recorded.

“Despite security risks and regular shelling, port workers ensured the continuity of the industry’s operations and the fulfillment of foreign trade contracts,” the USPA emphasized.

As reported by Oleksiy Kuleba, Deputy Prime Minister for the Recovery of Ukraine and Minister of Community and Territorial Development of Ukraine, Ukrainian ports reduced cargo handling volumes by 8.3% in the first quarter of 2026 compared to the same period in 2025, down to 21.1 million tons.

Kuleba noted at the time that since the beginning of 2026, 193 port infrastructure facilities and 25 civilian vessels had been damaged.

Cargo turnover at Ukraine’s seaports in 2025 decreased by 15.9% compared to 2024—to 81.7 million tons, Kuleba noted. According to him, agricultural products accounted for the bulk of cargo turnover—44.2 million tons, which is 26.3% less than in 2024; at the same time, container traffic increased by 66.1%—to 215,750 TEU.

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Ukraine will perform seventh in the “Eurovision 2026” final

Singer Leléka will perform her song ‘Ridnym’ as the seventh act in the final of the “Eurovision 2026” international song contest.

According to a statement from the organizers of “Eurovision 2026,” the order of the contestants’ performances in the grand final was determined on Friday morning following the conclusion of the second semifinal.
Thus, the representative from Denmark will open the final, Ukraine (Leléka with the song “Ridnym”) will perform seventh, and the representatives from Austria will close the competition.

As previously reported, the 70th anniversary edition of “Eurovision 2026” is taking place in Vienna (Austria). The Grand Final will be held on May 16 at the Wiener Stadthalle, Austria’s largest indoor arena.

Based on the results of the two semifinals, the following countries have advanced to the final: Ukraine, Greece, Finland, Belgium, Sweden, Moldova, Israel, Serbia, Croatia, Lithuania, Poland, Bulgaria, Norway, Australia, Romania, Malta, Cyprus, Albania, Denmark, and the Czech Republic. In addition, France, Germany, Italy, the United Kingdom, and Austria—as the winner of Eurovision 2025—automatically advance to the final.

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New model for primary education has been unveiled in Ukraine

A new primary education model, “Country of Knowledge,” was presented in Ukraine. It was developed in response to the challenges of war, the digital age, and the future labor market. The program’s authors state that modern schools can no longer be based solely on memorizing rules and reproducing information—children must learn to think, explore, ask questions, and find solutions on their own.

The presentation took place during a press conference titled “Primary Education as Community Capital: Presentation of a Learning Model for Today’s Challenges,” organized with the participation of researchers, school principals, teachers, and parent representatives.

“We are changing the very philosophy of learning. We are not just teaching children to apply knowledge, but fostering a mindset of inquiry. This is a child’s foundation in an unstable world,” stated Oksana Onopriienko, head of the Department of Primary Education at the Institute of Pedagogy of the National Academy of Pedagogical Sciences of Ukraine and scientific director of the “Country of Knowledge” program.

According to the program’s authors, the world is changing so rapidly that today’s first-graders will be working in professions that do not yet exist in 15–20 years.

“65% of today’s first-graders will work in professions that do not yet exist. That is why we must teach children not just rules, but an understanding of how the world works,” emphasized Onopriyenko.

The program explains: for decades, traditional schooling has been based on a model where children listen, memorize, and reproduce information. In contrast, “The Land of Knowledge” offers a different approach—learning through research, practice, and emotional engagement.

In math classes, children don’t just study geometric shapes; they explore which materials will make a structure the strongest. In Ukrainian language classes, they learn to present their ideas and argue their own opinions. And in “I Explore the World” classes, they conduct experiments, formulate hypotheses, and seek explanations for phenomena.

The program’s authors place special emphasis on the fact that today’s Ukrainian children are learning amid a full-scale war—to the sound of sirens, after sleepless nights due to shelling, and in an atmosphere of constant anxiety.

“Psychologists are already talking about a dangerous symptom—children maturing too early. This affects their mental health and their ability to learn effectively,” she noted.

That is why, according to the developers, modern schools should not only impart knowledge but also restore children’s sense of security, curiosity, and the joy of learning.

In schools where the program has already begun to be implemented, there are reports of noticeable changes in children’s behavior. Tetyana Yermak, principal of Lyceum No. 157 in Kyiv’s Obolon district, stated that students have become more motivated and interested in learning.

“Children’s interest in school has increased by nearly 90%. They want to go to class, explore, and ask questions. The children even get sick less often because they enjoy being at school,” she said.

According to her, the program also has a positive impact on children’s emotional well-being during wartime, helping to reduce stress levels through creativity, teamwork, and a research-based approach.

Elementary school teacher Alla Korol explained that as early as first grade, children freely use the terms “hypothesis” and “assumption,” learn to work in teams, and formulate rules on their own.

“Our first graders already know how to formulate hypotheses. They aren’t afraid to make mistakes and are learning to find answers on their own,” the teacher noted.

During the presentation, videos from classes were shown where first-graders demonstrated their own STEM projects and experiments. One such video was about the “energy source of the future,” created by a first-grade student.

Parents also speak of positive changes. A representative of the parent community, Daryna Nahorniuk, noted that children not only grasp the material better but also become more independent and confident.

“After a sleepless night due to a ‘suicide bomber’ attack, my child said in the morning: ‘Mom, I want to go to school; we have a knowledge assessment today.’ For me, this was a sign that my child isn’t afraid of learning but truly wants to learn,” she said.

The program’s developers emphasize: “The Land of Knowledge” was created as an accessible model that can be implemented in both large cities and small communities without expensive equipment or multimillion-dollar expenditures.

“You don’t need expensive laboratories to foster a mindset of inquiry. It’s enough to teach a child to ask questions and seek answers,” the program’s authors noted.

Schools in Kyiv, Brovary, and the Ivano-Frankivsk region are already participating in the program. Next year, the project is set to be scaled up and expanded to include preschool and elementary schools.

“We are preparing not just students, but young inventors and citizens who will rebuild Ukraine in the future,” concluded Onopriyenko.

The “Land of Knowledge” educational program was created by researchers at the Institute of Pedagogy of the National Academy of Pedagogical Sciences of Ukraine in collaboration with practicing teachers as an unconventional model of primary education for Ukrainian schools. The program is based on the STEM approach and focuses on developing critical thinking, research skills, emotional intelligence, and teamwork. Currently, the model is being implemented in schools in Kyiv, Brovary, and the Ivano-Frankivsk region. According to the developers, the program is adapted for both urban and rural communities and does not require expensive technical equipment to implement.

Source: https://interfax.com.ua/news/culture/1167875.html

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Kyivstar Plans to Phase Out 3G Completely

Kyivstar, Ukraine’s largest mobile operator, announced that 2026 will be the last year the company uses 3G technology in Ukraine.

“We want to strengthen our technological leadership compared to our competitors,” said Kyivstar CEO and President Alexander Komarov on Thursday during a conference call on the operator’s Q1 2026 financial results.

According to him, the company has nearly completed its licensing obligations to provide 4G coverage to nearly 97% of the country’s population, while also ensuring full LTE coverage along all major roads.

Komarov noted that he does not expect 5G to be rolled out in Ukraine before the end of the war.

“The most likely scenario is something like 12 months after the war. And that is precisely why we view our investments in LTE technology as strategic,” the mobile operator’s CEO noted.

Regarding the decrease in Kyivstar’s subscriber base in the first quarter of 2026 by 0.4 million, or 3%, to 22 million, the company’s CEO noted that this decline reflects a general market trend driven by three factors: a decrease in the number of dual SIM cards, a certain increase in prices, and the overall demographic situation in the country.

At the same time, Komarov pointed out that, according to statistics from the national regulator, Kyivstar has maintained its market share in terms of subscriber numbers and even increased it by 0.1 percentage points in 2025 compared to 2024.

“We have been relatively stable over the past few years, with a subscriber market share of over 47%,” he stated.

As reported, Kyivstar increased its EBITDA by 28.5% in the first quarter of 2026—to UAH 7.5 billion—while revenue grew by 31.3%—to UAH 13.9 billion.

The ARPU (Average Revenue Per User) for the first quarter of 2026 increased by 18.4% to UAH 166.5 due to increased data consumption and tariff indexation, while the average number of minutes a subscriber uses per month (Mobile MoU) rose by 2.3% to 297.

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