Business news from Ukraine

Business news from Ukraine

Cars backing up at Ukraine-Slovakia border as drivers try to leave Ukraine – State Border Guard Service

At the border with Slovakia, in front of the “Uzhhorod” border crossing, a line of cars is forming as they wait to leave Ukraine, according to the State Border Guard Service.

“Currently, 35 passenger cars are waiting in line to clear customs at the border crossing,” the statement reads.

Border guards recommend that travelers choose alternative routes. In particular, the following checkpoints are operating on the border with Slovakia: “Maly Berezny” (for vehicle and pedestrian traffic, open 24 hours a day), “Mali Selmentsi” (for pedestrian traffic, open from 9:00 a.m. to 9:00 p.m.), and “Chop (Strazh)” (for rail traffic, open 24 hours a day).

Source: https://t.me/DPSUkr/35817

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Zelenskyy to Make Working Visit to Turkey on October 31

Ukrainian President Volodymyr Zelenskyy will arrive in Turkey on Saturday, October 31, for a working visit at the invitation of President Recep Tayyip Erdoğan, according to Burkhanettin Duran, head of the Communications Directorate of the Turkish Presidential Administration.

“During the meetings to be held in Istanbul, the two leaders will discuss steps that can be taken to further develop bilateral cooperation between Turkey and Ukraine, as well as regional and international developments, particularly the Russia-Ukraine war and the security situation in the Black Sea,” Duran wrote on social media platform X.

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Record global grain harvests do not guarantee food security due to logistics problems – expert

Global grain production in 2026 could reach one of the highest levels on record, but international trade is declining due to logistical restrictions, particularly shipping problems in the Black Sea. Ensuring global food security depends not only on the volume of production but also on the ability to transport products to consumers on time and at an affordable price, SEEDS reports, citing an analysis by international expert Kateryna Zvierieva.

According to the latest estimates by the Food and Agriculture Organization of the United Nations (FAO), global grain production in 2026 is forecast at 2.979 billion tonnes. This is the second-highest figure on record. At the same time, the volume of international grain trade is projected to decrease by 3.5% to 505.8 million tonnes.

Among the main factors behind the decline in trade, FAO identifies shipping difficulties in the Black Sea and insufficient capacity of alternative transport corridors. As a result, even with high production volumes, certain regions may face supply disruptions and rising costs of imported food.

As Kateryna Zvierieva, an international expert in strategic communications in the agri-food sector, sustainable development and food systems, notes in an article for the Italian publication Agricultura.it, risks to food security are not necessarily associated with a physical shortage of grain. The availability of transport routes, delivery speed and logistics costs play a significant role.

The situation in Ukraine is particularly illustrative in this context, as grain exports remain dependent on security conditions, the operation of port infrastructure and the capacity of alternative routes.

According to the State Customs Service of Ukraine, as of October 16, the country had exported 5.929 million tonnes of grain and leguminous crops since the beginning of the 2026/27 marketing year. This is 24.9% less than during the corresponding period of the previous season.

At the same time, export trends for individual crops differ significantly. In particular, wheat shipments decreased by 40.5%, while corn exports increased by approximately 80%. This difference indicates that logistical and market factors have varying effects on individual segments of the grain market.

The structure of transport routes has also changed. According to the European Commission, in September 2026, about 90% of Ukrainian exports of grain, oilseeds and related products were transported through the Solidarity Lanes between Ukraine and the EU. Meanwhile, approximately 10% of shipments passed through Black Sea ports.

Rail, road and river transport make it possible to maintain exports even under restrictions on maritime logistics. However, their capacity remains an important factor determining the volumes, delivery times and costs of agricultural product shipments.

Logistical difficulties also affect global food prices. According to FAO, the Food Price Index rose by 1.5% in September compared with August and by 5.8% year-on-year. Meanwhile, the cereal price sub-index increased by 5.1% over the month and by 17.2% compared with September 2025.

In particular, global wheat prices rose by 6.3% during the month. Among the reasons cited are restrictions on transport connections in the Black Sea region and dry weather conditions in certain areas of North America. Corn became 5.6% more expensive amid expectations regarding yields in the United States and a reduction in export supplies from Brazil.

According to Zvierieva, delays in transporting products create risks not only for international trade but also for the financial stability of agricultural enterprises. Longer delivery times and higher transport costs affect farmers’ working capital, their ability to finance current operations and investments in subsequent production cycles.

At the same time, high global harvests and declining trade do not automatically mean the emergence of a global food crisis. However, the current situation demonstrates the dependence of food markets on transport infrastructure and the stability of international supply chains.

Thus, ensuring global food security increasingly depends on countries’ ability to maintain stable logistics routes, diversify transport corridors and reduce food delivery costs.

Kateryna Zvierieva is an international expert in strategic communications in the agri-food sector, sustainable development and food systems. She has collaborated with FAO and the European Bank for Reconstruction and Development (EBRD). She is the founder of Sapienza.media.

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At conference on Ukraine’s recovery in Bucharest, fundraising campaign for ambulances was presented

The Ukrainian Embassy in Romania presented an international initiative to raise $1.2 million for the purchase of ten modern ambulances for Ukrainian medical facilities. The presentation took place during the international forum “Rebuilding Ukraine: Security, Opportunities, Investment,” held on October 22–23, 2026, in Bucharest.

According to the Ukrainian diplomatic mission, the initiative is being jointly implemented by the Ministry of Foreign Affairs of Ukraine and the state fundraising platform UNITED24.
As part of the conference, with the support of the embassy and the Honorary Consul of Ukraine in Cluj-Napoca, a UNITED24 information booth was set up, where event participants could learn about the project and funding opportunities.

Ihor Prokopchuk, Ukraine’s Ambassador to Romania, appealed to representatives of international business, investors, and conference participants to support the purchase of specialized ambulances for Ukrainian medical professionals.
The funds are earmarked for the purchase of fully equipped ambulances capable of providing emergency medical care directly during patient transport.

Each vehicle will be equipped with a ventilator, a defibrillator-monitor, an oxygen system, and other medical equipment necessary to maintain vital functions.
Such vehicles are particularly needed in regions under attack by Russian missiles and drones, as they allow medical care to be provided to victims even before they arrive at the hospital.

According to the initiative’s initial terms, the estimated cost of a single fully equipped ambulance is $120,000.
The project is part of the broader UNITED24 campaign, supported by former NASA astronaut Scott Kelly, who has experience in the field of emergency medical care.

On August 10, 2026, the Ukrainian Ministry of Health announced the launch of a fundraising campaign for ten specialized vehicles. Ukrainian diplomatic missions in various countries joined the initiative.
Subsequently, the scope of the campaign was expanded. The official UNITED24 page now lists a total goal of $2.4 million to purchase 20 ambulances.

According to the platform, the vehicles are planned to be sent to medical facilities in the Kharkiv, Zaporizhzhia, Sumy, and Kherson regions, as well as to the Ukrainian Scientific and Practical Center for Emergency Medical Care and Disaster Medicine.

The Ukrainian healthcare system’s need for such vehicles remains significant. According to UNITED24, medical teams responded to over 4.5 million calls in 2025, and since the start of the full-scale Russian invasion, 495 ambulances have been destroyed or damaged, including 46 in 2026.

The platform estimates Ukraine’s current need for Class C ambulances at 1,696 units, including 328 vehicles required directly by emergency medical centers.
The Ukrainian Embassy in Romania has called on Romanian companies, international partners, and representatives of the Ukrainian diaspora to help fund the project.

Donations are accepted through the official UNITED24 page: https://u24.gov.ua/uk/scott-kelly-fundraiser-for-ambulances
The international conference “Rebuilding Ukraine: Security, Opportunities, Investment” took place on October 22–23, 2026, at the ROMEXPO exhibition complex in Bucharest. It was organized by the Romanian think tank New Strategy Center in collaboration with the Romanian Chamber of Commerce and Industry. The academic partner was

the University of Agronomic Sciences and Veterinary Medicine in Bucharest.
The forum’s program included 31 thematic discussions focused on the recovery of the Ukrainian economy, attracting international investment, financing infrastructure projects, and the development of the energy sector, agriculture, the defense industry, transportation logistics, and cross-border cooperation.

Particular attention was paid to Romania’s role as a logistics and investment hub for Ukraine’s recovery. Investment opportunities in the Zakarpattia, Ivano-Frankivsk, Vinnytsia, Chernivtsi, Odesa, Mykolaiv, Kherson, and Kyiv regions were presented at the conference.

Representatives of Ukrainian and Romanian government agencies, international financial organizations, investors, and business associations took part in the discussions. Among the registered participants were representatives of the European Investment Bank, the German development bank KfW, Japan’s JBIC, Poland’s BGK, the Ukrainian Chamber of Commerce and Industry, UkraineInvest, and the Union of Ukrainian Entrepreneurs.

The forum continued a series of New Strategy Center events dedicated to Romania’s participation in Ukraine’s recovery, which were previously held in December 2023 and December 2025.

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NBU raised discount rate from 16% to 16.5%

According to Interfax-Ukraine, the Board of the National Bank of Ukraine (NBU) raised the discount rate by 0.5 percentage points (p.p.)—to 16.5% per annum—effective October 30, due to a significant increase in price pressures and a deterioration in inflation expectations.

“The NBU is prepared to respond flexibly to further changes in the risk landscape, taking into account both the persistence of price pressures and the likely consequences of a slowdown in economic activity,” the regulator noted in a press release on Thursday.

The National Bank’s current forecast calls for keeping the policy rate at 16.5% until the second quarter of 2027. At the same time, the regulator will adjust monetary policy depending on actual developments, particularly the impact of Russian attacks on inflation and economic activity, the statement noted.

According to the updated forecast path, the rate is expected to decline in the second quarter to an average of 16.2%, up from 15.3% in the previous forecast, and is now projected to reach 14.6% by the fourth quarter of 2027, compared to 14.0% in the July forecast.
In September, headline inflation accelerated to 10% year-over-year, while core inflation rose to 8.8%, and this trend continued in October. The main factors were rising fuel prices due to the war in the Middle East and intensified Russian attacks on warehouse and logistics infrastructure, the NBU noted.

The regulator raised its inflation forecast for the end of 2026 to 12.5% from 10%, and for 2027 to 7.3% from 6.9%. The regulator continues to expect inflation to return to the 5% target in 2028.
According to the updated inflation forecast curve, inflation is expected to decline as early as the first quarter of this year—to 11.7% from 9.1% in the July estimate—and in the second quarter to 11.5% from 8.7%.

According to the National Bank, the previous tightening of monetary policy has already bolstered the attractiveness of hryvnia-denominated assets: even large banks have begun raising interest rates on hryvnia deposits. The current decision should also limit pressure on the foreign exchange market, which has intensified due to a decline in exports and worsening expectations amid Russian attacks.

The results of the Monetary Policy Committee’s discussion, which preceded the decision to raise the rate to 16.5% per annum, will be released on November 9.
The next meeting of the NBU’s Board on monetary policy will take place on December 17, 2026.

As previously reported, after lowering the discount rate to 15% at the end of January 2026, the NBU kept it at that level for three consecutive meetings, and since July has raised it three times in a row by 0.5 percentage points.

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Ukrainian MedTech startup CheckEye receives $175,000 at international competition in the US

Ukrainian medical startup CheckEye, which is developing an artificial intelligence system for the early detection of chronic diseases using retinal images, has received a $175,000 award at the international Healthy Longevity Global Competition organized by the US National Academy of Medicine (NAM). The company took second place in the final stage of the competition, NAM reported.

The award ceremony took place in Washington during the international NAM Global Innovator Summit. The Ukrainian team was represented by CheckEye co-founder Viktoriia Chuchyna, who was identified by the organizers as the leader of the competition project.

The Ukrainian company’s development, called AI-Powered Retinal Screening for Early Detection of Chronic Diseases, involves using artificial intelligence to analyze retinal images and identify signs of chronic diseases.

The technology allows examinations to be conducted without complex invasive procedures. According to the company, capturing an image of the fundus takes about three minutes, after which the image is analyzed by a cloud-based platform using artificial intelligence algorithms.

The examination can be conducted in primary healthcare facilities, pharmacies and specialized screening centers without the direct involvement of an ophthalmologist at the image acquisition stage.

Currently, the platform is primarily focused on detecting diabetic retinopathy and signs of vascular diseases, including arterial hypertension. In the future, the developers intend to expand the technology’s capabilities to assess the risks of more than 50 diseases.

According to the project description submitted to the competition organizers, CheckEye has already screened more than 15,000 people in five countries: Ukraine, Germany, Austria, Romania and the United Kingdom.

The company reports that its algorithms achieve a sensitivity of 93–95% in detecting diabetic retinopathy and a specificity of approximately 90%. These figures are presented in the competition documentation and represent the development results claimed by the team.

As part of a pilot program of Ukraine’s Ministry of Health, implemented from October 2024 to March 2025 in Odesa and Chernihiv regions, more than 870 patients with diabetes underwent screening. According to the project, approximately one-quarter of the participants were referred for treatment.

The company plans to use the $175,000 received from the competition to scale up the technology and further develop methods for the early diagnosis of chronic diseases.

“It is a great honor for us to represent and promote Ukrainian innovations around the world. This recognition at the global level confirms that our technology has the potential to change the approach to treating chronic diseases — from dealing with their consequences to early prevention,” CheckEye founder and CEO Kyrylo Honcharuk said in a company statement.

According to NAM, 147 applications from participants who had previously received support from the program were considered in the final stage of the Healthy Longevity Global Competition. Fourteen projects became winners in various categories, sharing $2 million in awards.

Two projects received the top prizes of $700,000 each, while two others, including Ukraine’s CheckEye, took second place and received $175,000 each. The third prize amounted to $125,000, and nine other projects received honorable mention awards.

In total, over the seven years of the international program, launched by NAM in 2019, its organizers and partners have supported more than 725 projects with over $38 million in funding. The program covered more than 50 countries and territories.

For CheckEye, the award marked another stage of international recognition. The Ukrainian startup previously received support from EIT Health, the European Bank for Reconstruction and Development and Google for Startups, and also won the EIT Health InnoStars Awards 2024.

According to NAM, the total amount of support attracted by CheckEye before receiving the latest award exceeded $750,000.

CheckEye is a Ukrainian HealthTech company specializing in the development of medical screening technologies using artificial intelligence. Its platform is designed for the early detection of diseases based on retinal image analysis and for expanding access to preventive examinations. The company’s founder and CEO is Kyrylo Honcharuk.

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