Business news from Ukraine

Oil is stable, Brent near $78 per barrel

Benchmark oil prices are little changed during morning trading on Tuesday, and the day before, quotes fell to their lowest levels since mid-November on fears that OPEC+ countries will not fully comply with their commitments to reduce production.

The price of February futures for Brent on the London ICE Futures exchange by 7:10 a.m. was $78.03 per barrel, which corresponds to the level at the close of the previous session. The day before, these contracts fell in price by $0.85 (1.1%) to $78.03 per barrel.

Quotes for January futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) by this time increased by 5 cents to $73.09 per barrel. At the end of the previous session, they fell by $1.03 (1.4%) to $73.04 per barrel.

On Monday, both brands ended trading at their lows since November 16.

Last week, some OPEC+ countries announced a voluntary reduction in oil production by 2.2 million barrels per day in the first quarter of 2024. The reduction in production by OPEC+ will ensure a balance in the oil market in the first quarter of next year, but without further measures in the second quarter, the global market may experience a surplus of 1 million bpd, Citi analysts fear.

In addition, the fact that the oil production restrictions are voluntary raises skepticism about compliance with the terms of the agreement, the analysts added.


Mind WinTech Summit 2023 has taken place – conference on business change management and winning technologies

More than 700 participants, including more than 50 representatives of large businesses, gathered on November 30 at Mind WinTech Summit 2023, the largest and most effective conference dedicated to various aspects of change management and innovation during the war. This is the first such event organized by a business publication in Ukraine.
The main topic of discussion was the adaptation of Ukrainian business to military realities, the search for new growth points in these extreme conditions and the development of technologies that bring our Victory closer.
There were six mainstream panels and a separate discussion platform.
The most important trends, cases, solutions and directions of technological development of Ukraine were discussed on the main stage of the conference. In particular:
FinTech – opportunities provided by open banking, innovations and technologies in retail;
AgriTech/FoodTech – technologies that change the production and safety of food;
MilitaryTech – automation of combat units: market development and technologies that can provide a breakthrough at the front;
EdTech & Change Management – changes in the personnel policy of large companies and adaptation of personnel to the changes taking place;
IoT – cases of using smart sensors in various industries: smart resource consumption, digital cities, and digitalization of large industry;
MedTech – prospects for the development of biotechnology and genetic engineering in the Ukrainian medical industry.
What the speakers and moderators of Mind WinTech Summit 2023 discussed:
– Natalia Denikeeva, Director of the IT Industry Development Directorate at the Ministry of Digital Transformation:
“When we started the ministry, we were told ‘Don’t break it’… As of now, we have 720 residents in Diia.City, and mostly product companies are joining.”
– Dmytro Shymkiv, co-founder of AeroDrone:
“International MilTech companies want to work with us because we test products every day.”
– Oleksandr Lapko, CEO of RozetkaPay:
“We (with traditional banks) can find synergies and the best products that a partner can give us: good rates, access to the customer base. Therefore, we need to weigh everything together. At the moment, we see advantages in synergy, and we can build synergy with banks in a way that would be beneficial for both them and us.”
– Oleg Klymenko, Member of the Management Board of OTP Bank:
“At the moment, banks have a task that is the opposite of the development of the crypto asset industry”
– Olena Plakhova, Director of Reputation Management at Nova Poshta Group, Member of the Board of Directors:
“Nova Poshta is buying a third Boeing aircraft for its own airline”
– Vladislav Kosmin, Corporate Vice President of Boosteroid:
“By the early 2030s, 90% of gamers will use the cloud. All profits in the gaming industry will be concentrated there”

Also among the speakers and moderators of the event:
– Nadiia Omelchenko, Vice President of IT-Integrator
– Viacheslav Polinovsky, CEO of GoITeens
– Maria Shevchuk, acting executive director of the IT Ukraine Association
– Yevhen Sarantsov, Ukrainian entrepreneur, founder of and
– Anna Tigipko, founder of izibank
– Sergiy Milman, CEO of YouControl
– Olena Ero, SME expert, project manager of Unlimit Ukraine, European Business Association
– Vladyslav Kosmin, Corporate Vice President of Boosteroid.

Alongside the presentations, panel discussions, and Q&A sessions of the main stage, the Networking Scene for media, startups, and investors was open: Q&A sessions, speed dating, pitches by technology teams and open innovation platforms, case studies, and more.
The summit was organized by the Ministry of Digital Transformation of Ukraine and the IT Ukraine Association.
We would also like to thank our partners:
the main innovation partner Boosteroid,
financial partner OTP Bank,
partner of the IT-Integrator company,
educational partner GoITeens.
Latinium, IDS Ukraine, Founders League, Pepsico, It Interprise, Kyiv Digital, MIM, ACMP Ukraine, EBA, Laboratoria Publishing House, Ribes ua.

The media partners of the conference were:
– international business community BOARD,
– Vector media,
– Comments (,
– Lobby X,
– Ukrainian Week
– Internet portal Marketer,
– Community Founder,
– PostEat edition,
– ApiX-Drive service

IC “PZU Ukraine” will increase its authorized capital by 2.5 times

On December 1, 2023, the meeting of shareholders of PZU Ukraine Insurance Company (Kyiv) decided to increase the authorized capital to UAH 48.510 million from UAH 19.407 million by conducting an additional issue of shares in the amount of UAH 29.111 million, according to the NSSMC system.

It is specified that the closed issue will be carried out by increasing the nominal value of shares from UAH 10 to UAH 25 per share by allocating part of the funds from the profit for 2022 to the authorized capital.

As reported, PZU Ukraine finished 2022 with a financial result from operating activities of UAH 82.789 million and net profit of UAH 118.119 million, which is 12.4 times more than a year earlier.

In 2022, the company collected UAH 1.280 billion in gross written premiums, which is 27.03% less than in 2021, UAH 1.172 billion in net premiums (+6.76%) and UAH 1.110 billion in earned premiums (+13.38%).

The volume of payments and reimbursements made by the insurer for the specified reporting period amounted to UAH 575.537 million, which is 16.24% lower than the volume of reimbursements a year earlier.

As of December 31, 2022, the company’s assets decreased by 14.93% to UAH 2.425 billion, equity increased by 3.43% to UAH 853.817 million, liabilities decreased by 22.41% to UAH 1.571 billion, cash and cash equivalents increased 3.34 times to UAH 364.458 million.

PZU Ukraine is supported by one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company of PZU Ukraine – PZU S.A.).


Envoys of 27 EU member states to begin debate on Ukraine’s membership prospects

Envoys from the 27 EU member states will meet on Tuesday to begin discussions on starting membership talks with Ukraine, Reuters reports, citing officials and diplomats.
“The meeting marks the beginning of preparations by the 27 countries for a summit of European Union leaders on December 14-15, which is expected to decide on the integration prospects of Ukraine, Moldova, Georgia and Bosnia,” the report said.
According to Reuters, the meeting on Tuesday is expected to discuss the draft agreement of the summit, which is also expected to decide on a related proposal to provide Kyiv with budget support in the amount of EUR50 billion ($54.10 billion) until 2027.
“No final decisions are expected on Tuesday, but the initial exchange of views between member states will give an indication of how likely it is that the summit will give the green light to Ukraine,” the agency emphasizes.

International conference on Ukraine’s recovery with Greek business to be held in Athens

An international conference on the restoration of Ukraine with the involvement of Greek business will be held in Athens, Greece, on February 15, 2024, the press service of the Ukrainian government said on Monday.

“January 15, 2024 will mark 32 years since the establishment of diplomatic relations between Ukraine and Greece. Today, it is extremely important to resume the activities of the intergovernmental joint Ukrainian-Greek working group on economic, industrial, technical and scientific cooperation, the Ukrainian part of which I head. It is important that we have agreed on the date of the next meeting and started the preparation process,” said Oleh Nemchinova, Minister of the Cabinet of Ministers of Ukraine, following a meeting with Ambassador Spyridon Lambridis, Special Envoy of the Ministry of Foreign Affairs of Greece to Ukraine.

The parties discussed cooperation between the two countries, as well as the readiness of the Greek side to participate in the restoration of architectural monuments and the historical center of Odesa, which were damaged during the Russian aggression. In particular, Mr. Lambridis informed about Greece’s intention to open a special office in Odesa to restore Odesa region.

In addition, the parties discussed preparations for the planned events, namely the announcement of an international conference on the restoration of Ukraine with the involvement of Greek business to be held in Athens on February 15, 2024.

The key issues to be addressed during the conference are the preparation of a plan for the reconstruction of Ukraine (aspects of planning and financing reconstruction projects with the participation of European agencies and the Ukrainian government), an institutional mechanism for business (presentation of a mechanism for business circles to be involved in reconstruction projects with the participation of Ukrainian government experts and business representatives with regional reconstruction experience), opportunities for cooperation in certain areas (presentation of a mechanism for business

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An online European film festival will be held in Ukraine from December 13 to 19, 2023

From December 13 to 19, 2023, the European Film Festival 2023 (EUFF) will be held in Ukraine. The festival is organized by the Delegation of the European Union to Ukraine together with the European cultural institutions Goethe-Institut, Institut Français and Cineuropa.

This year’s festival will showcase the outstanding achievements of European cinema and introduce the contemporary cinema of Ukraine. EUFF 2023 will bring together nine films that have won international competitions. You can watch them for free on the festival’s online platform.

To join EUFF 2023, you need to:

Register at;
Rent and watch a movie for free at a convenient time from December 13 to 19.

The EUFF 2023 program includes such films as Luxembourg, Luxembourg (Ukraine), Anytime (Finland), My Love Affair with Marriage (Latvia, Luxembourg), The Gods of Molenbeek (Finland, Belgium, Germany), “Luzza (Malta), Oscar and Lilly – Where No One Knows Us (Austria), Date with Amber (Ireland, UK), I’m Fine (Luxembourg, Belgium, Germany, Italy), Lullaby (Spain). The full program and film descriptions are available on the EUFF website.

“EUFF is an international project that promotes cultural exchange between EU countries and Ukraine. Our common vector of development is reflected in this year’s festival program. It includes both European works and, for the first time, a Ukrainian film. And this is a sign of deepening the dialogue and strengthening the partnership between Europe and Ukraine,” the EU Delegation to Ukraine said.

Organizer: Delegation of the European Union to Ukraine.

Partners: Goethe-Institut, Institut Français, Cineuropa.

Media partners:,

Technical partners: Festival Scope, SHIFT27.


For reference:

The EU Delegation to Ukraine has the status of a diplomatic mission and is one of more than 130 EU delegations in the world. The European Film Festival is a global cultural project implemented by the EU Delegations around the world to promote European values and raise awareness of pressing European challenges. The goal of the festival in Ukraine is to introduce Ukrainians to Europe and its culture through cinema.