Business news from Ukraine

Business news from Ukraine

Ukrainian and German hospitals agree on cooperation

Ten Ukrainian and two leading German hospitals have agreed on a medical partnership.

As the Ministry of Health of Ukraine reported on its website, during the international conference on medical partnerships, which took place on February 26-27 in Berlin, a memorandum of cooperation with Charité Clinic was signed by the Regional Clinical Center of Neurosurgery and Neurology in Uzhgorod, Lviv National Medical University named after Danil Halytskyi, Ternopil Regional Clinical Psychoneurological Hospital, Bogomolets National Medical University, Institute of Neurology, Psychiatry and Addiction Medicine of the National Academy of Medical Sciences of Ukraine.

Memoranda of cooperation with the German network of hospitals BG Kliniken, specializing in the treatment and rehabilitation of victims of severe trauma, signed clinical hospital “Feofania”, Ivano-Frankivsk Regional Clinical Hospital, NDSB “Okhmatdet”, City Clinical Hospital № 4 Dnipro, Institute of Spine and Joint Pathology named after Sitenko NAMNU.

The development of the International Medical Partnership is an initiative of the First Lady of Ukraine Olena Zelenska. It was launched during the third summit of First Ladies and Gentlemen in Kyiv on September 6, 2023.

Currently, the International Medical Partnership Program with Ukraine is supported by 18 countries. Within the framework of the program 34 memorandums of cooperation have been signed. Medical Partnership in Germany was made possible thanks to the assistance of the German Society for International Cooperation (GIZ) through their funded Hospital Partnership Program.

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Kyivstar wins nomination “Best Mobile Innovation in Support of Emergency or Humanitarian Situations” at annual Global Mobile Awards

Barcelona, February 29, 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator providing mobile and fixed-line services, today announced that Kyivstar, its subsidiary in Ukraine, has won the GSMA’s Global Mobile Award at the annual Global Mobile Awards (GLOMO) in the category of Best Mobile Innovation in Support of Emergencies or Humanitarian Situations for its network resilience project.
The award was presented to Kyivstar CTO Volodymyr Lutchenko at a ceremony organized as part of the Mobile World Congress (MWC24) in Barcelona. The GLOMO award recognizes Kyivstar’s hard work and exemplary performance in providing connectivity in Ukraine, its meaningful investments in its network and digital services during the war, and its overcoming of severe challenges to support Ukraine’s resilience.


In his speech, Mr. Lutchenko recognized the work of the Ukrainian telecommunications industry, noting that “This is an award not only for Kyivstar, but for all Ukrainian telecommunications operators.
VEON would like to thank all the nominees of this year’s GLOMO award, as well as the mobile industry in general, for their work aimed at solving humanitarian problems and helping communities overcome emergencies. “I am honored to receive the GLOMO award for the extraordinary work of the Kyivstar team in providing vital communications for Ukraine. Our communication and digital services are extremely important for communities, in humanitarian crises and emergencies. We are honored to be part of an industry that is committed to meeting this challenge,” added Kaan Terzioglu, CEO of VEON Group.


Kyivstar is the largest telecommunications operator in Ukraine, providing services to 24 million mobile subscribers and more than 1.1 million home Internet subscribers. As a leading operator in the Ukrainian telecom market, the company maintains over 90% network availability in the government-controlled areas of Ukraine, providing communications not only to its customers but also to the population of Ukraine as a whole.
VEON International Group owns 100% of Kyivstar. VEON and Kyivstar have committed to investing $600 million over the next three years to rebuild and restore Ukraine.

About VEON
VEON is a digital operator that provides mobile, fixed-line and digital services to nearly 160 million customers. Operating in six countries with more than 7% of the world’s population, VEON changes lives by providing technology services that empower people and drive economic growth. Headquartered in Amsterdam, VEON is listed on the NASDAQ and Euronext stock exchanges.
For more information, please follow the link: https://www.veon.com.

About Kyivstar:
Kyivstar is Ukraine’s largest electronic communications operator, serving 24 million mobile subscribers and more than 1.1 million Home Internet subscribers as of September 2023. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar helps subscribers, society and the country to overcome the challenges of wartime. Since the beginning of the full-scale war, the company has allocated UAH 1.8 billion to support the Armed Forces, society and subscribers. Kyivstar’s sole shareholder is the international VEON Group. The Group’s shares are listed on NASDAQ (New York) and Euronext (Amsterdam). Kyivstar has been operating in Ukraine for 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company. For more information: pr@kyivstar.net, www.kyivstar.ua

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Cyprus has extended until March 4, 2025 temporary protection status for citizens of Ukraine

The Republic of Cyprus has extended until March 4, 2025 the temporary protection status for persons who already have this status.

“The Ministry of Interior informs all interested parties that, based on the relevant decision of the Council of Ministers, the right to temporary protection is automatically extended for one year for those persons who have obtained such a right in Cyprus, i.e. until March 4, 2025”, – stated in the official announcement of the Refugee Service on the relevant website.

And it is specified that “thus, for those who have already received temporary protection, there is no need to submit a new application to the Refugee Service or to issue a new biometric residence permit at the Department of Population and Immigration.

Those who wish to apply for temporary protection for the first time must apply either electronically at http://www.moi.gov.cy/asylum or in person at the Refugee Service head office in Nicosia.

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“Ukrnafta” paid UAH 3.9 bln in dividends for 2023

PJSC Ukrnafta transferred UAH 3.9 billion of dividends to the state budget as an advance payment based on the results of its business activities in 2023, said the company’s CEO Sergiy Koretsky.

“This is the first installment. In total, more than UAH 8 billion will be paid according to the schedule. This is twice as much as the total for the previous 10 years,” he wrote on his Facebook page.

As reported, the Cabinet of Ministers, by its Resolution No. 163-r of February 27, 2024, ordered Naftogaz of Ukraine, Ukrzaliznytsia, Ukrhydroenergo, Ukrainian Energy Machines, Nizhnednistrovska HPP, and Ukrainian Defense Industry to transfer to the state budget at least 50% of the annual dividends on the state share for 2023 in advance by March.

“Ukrnafta is the largest oil company in Ukraine, which operates a national network of 537 gas stations, of which 456 are operational.

Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense, to the state.

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Belgorod-Dniester Commercial Sea Port is put up for auction again

The State Property Fund of Ukraine (SPFU) has announced a privatization auction for the sale of the integral property complex of the State Enterprise Belgorod-Dniester Commercial Sea Port (SCP) on March 21 at a starting price of UAH 183.9 million, the press service of the agency reports.

Last year, the Fund tried several times to sell this property: first, it put it up for sale on March 3 for UAH 187.57 million, then lowered the starting price to UAH 93.78 million, the auction was won by Ukrdoninvest LLC of businessman Vitaly Kropachev, but it then refused to buy at the stage of agreeing on the terms of the sale agreement, and further attempts to sell it in June with a price reduction to UAH 92.46 million failed due to the lack of bids.

Bilhorod-Dnistrovskyi ICC is an international universal transportation hub specializing in transshipment of timber, bulk, construction and grain cargoes, as well as iron ore pellets and metal products. Transshipment is carried out both by land and sea vessels and in the opposite direction.

According to the report, the asset is located on a territory of 64.4 hectares. It consists of 59 hectares of the main production area of the port of Bilhorod-Dnistrovskyi and 5.4 hectares of the Buhaz port point located in the village of Zatoka. The total area of buildings is 31.3 thousand square meters.

Ships call at the port through the 1.5 km long approach channel of the offshore part of the Dniester-Tsarhorod estuary and the 14.5 km long Dniester-Liman part. The depth of the approach channel is 3.0 m (3.5-4.5 m according to the passport).

The port has its own railroad tracks, as well as engineering networks: water supply, heating, 0.4 kW cable lines and 10 kW high-voltage lines.

According to the SPF, the auction terms require the buyer to pay off wage and budget arrears. As of September 30, 2023, this total debt amounted to UAH 105.5 million. The buyer also has to pay VAT in the amount of 20% of the final value of the property.

If the auction is successful, the Bilhorod-Dnistrovskyi ICC will become the second major port infrastructure facility to be sold on the Prozorro platform since the beginning of the full-scale Russian invasion.

As reported earlier, the SPF sold the integral property complex of the Ust-Dunay port for UAH 200 million on the Prozorro electronic platform. During the auction, its price tripled. The winner was Elixir Ukraine LLC.

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Unity Facility insurance mechanism for grain transportation by Ukrainian sea corridor extended to all cargoes

The Unity Facility insurance mechanism for grain transportation by Ukrainian sea corridor, announced in mid-November 2023, has been extended to ships carrying not only grain but any other cargoes from February 2024, Oliver Wyman partner Crispin Ellison said.

“By combining the efforts of the industry and the government, we’ve been able to create a mechanism (facility) where prices are well under half of those in the normal commercial market. And now, this month, February, we’ve expanded that facility to include transportation of all cargoes, not just grain,” he said at a Wednesday webinar on political risk insurance organized by the U.S.-Ukraine Business Council (USUBC) and the U.S. Department of Commerce.

He said this will be formally announced on Friday, but the option is already available and effectively triples the mechanism.

Ellison recalled that after Russia withdrew from the Black Sea Grain Initiative, insurance rates increased for the military risk element alone to about 5%, which was completely unaffordable and led to a halt in shipping in July and August.

Established using a public-private partnership (PPP) in which the Ukrainian government provided a $20 million reimbursement fund, the Unity Facility insures approximately 1,000 vessels per year with a maximum insured value of $50 million for each vessel, supporting the export of approximately 30 million tons of grain. The reimbursement fund is accessed through a letter of credit with Ukrainian banks and DZ Bank.

According to Ellison’s submission, a parallel mechanism for cargo coverage, supported by EBRD financing for the Ukrainian government, is being considered.

The expert emphasized that the relatively small amount of insurance capital allowed exporting goods worth about $20 billion, and its estimate is 6-8% of Ukraine’s GDP.

As reported, the Unity Facility was created with the support of the UK government, international reinsurance broker Marsh McLennan and over a dozen more British insurance companies.

According to the Ministry of Restoration, the sea corridor created by the Navy of the AFU and the Danube since August 2023 provided for the export of almost 26 million tons of cargo, of which more than 18 million tons – the products of Ukrainian agrarians. It was specified that from the ports of “Greater Odessa” 854 ships were sent to 42 countries.

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