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American AI company Vantiq launches project to develop smart cities in Ukraine

U.S based tech company Vantiq has donated AI software worth $500,000 to develop smart cities in Ukraine, the company’s Vice President of Partnerships David Sprinzen said at the Summit of Mayors in Kyiv on Nov. 8. “We can help Ukraine tackle the challenges they have right now, and then use the same technology architecture to […]

Ukraine

November 9, 2024

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EBRD, IFC to provide $435 million to new Ukrainian telecom company

The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) provided $435 million to support investment in Datagroup-Volia-Lifecell, a recently merged Ukrainian telecom company owned by a French billionaire, according to a statement from Oct. 10. This is the single biggest direct foreign investment in Ukrainian business since Russia's full-scale invasion began […]

Ukraine

October 10, 2024

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Ex-military logistics chief named new head of Ukroboronprom state defense company

Oleh Huliak, who has been acting CEO of the state-owned enterprise Ukrainian Defense Industry (Ukroboronprom), was officially appointed to the job on Oct. 21, the company announced. Huliak replaced Herman Smetanin, who was appointed the strategic industries minister as part of the biggest wartime government reshuffle in September, replacing Alexander Kamyshin. Smetanin had been in […]

Ukraine

October 21, 2024

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Finnish court orders seizing Russian assets at request of Ukraine's Naftogaz company

A Finnish court in Helsinki ruled in favor of Ukraine’s state-owned oil and gas company Naftogaz and ordered the seizure of Russia's assets in Finland worth tens of millions of dollars, the company’s statement read on Oct. 28. According to a ruling in 2023 by the Permanent Arbitration Court based in The Hague, Russia is […]

Ukraine

October 28, 2024

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Hungary's oil company MOL faces delays in project weaning its refineries off Russian crude

Hungary's oil and gas giant MOL faces a one-year delay in its $500 million investment project to diversify its refineries from Russian crude oil, Reuters reported on Oct. 10. According to the new estimates, MOL, which owns refineries in Hungary and Slovakia, will be able to process non-Urals oil by the end of 2026, as […]

Ukraine

October 11, 2024

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Puzzle company Frisson helps Ukrainians escape wartime reality

Editor’s note: This article is part of a series of profiles highlighting successful Ukrainian startups and businesses. The series is funded by the regional investment fund Ukraine-Moldova American Enterprise Fund (UMAEF) and created in partnership with Spend With Ukraine, a non-profit organization that launched a platform to showcase businesses with Ukrainian roots and provide one […]

Ukraine

October 19, 2024

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Russia deals 'massive blow' to Ukraine's thermal power plants, energy company says

Russia targeted DTEK's thermal power plants during a mass aerial attack on Dec. 13, damaging their equipment, the company said in a statement. Moscow's forces launched around 90 missiles and 200 drones in one of its largest mass attacks on Ukraine's power grid as the winter is setting in. "DTEK thermal power plants were attacked. […]

Ukraine

December 13, 2024

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Ukraine's top energy company to receive $112 million from EU, US to restore facilities

DTEK, Ukraine's largest private energy company, will receive $112 million from the EU and the U.S. to restore facilities damaged in Russian attacks and prepare them for winter, the company said on Nov. 25. Russian attacks have destroyed 90% of DTEK's generation capacity during an aerial campaign in the spring and summer earlier this year, […]

Ukraine

November 25, 2024

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‘Game changer:’ EBRD on largest investment since start of war into newly merged Ukrainian telecoms company

The European Bank for Reconstruction and Development and the International Finance Corporation on Oct. 10 said they would provide $435 million to finance a recently merged Ukrainian telecoms company. The funding is part of a deal — led by French billionaire Xavier Niel — that represents the largest foreign direct investment in Ukraine since the […]

Ukraine

October 10, 2024

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