China’s Xinwei and Ukraine’s Datagroup strike an investment agreement for $400 million

China’s Xinwei Telecom Enterprise Group has made further inroads into the Ukrainian market with an agreement to invest about $400 million in the telecom and hi-tech projects of telecom operator Datagroup. Datagroup CEO Alexander Danchenko signed a memorandum of cooperation with his counterpart from Xinwei, Wang Jin.

A press release announcing the agreement was posted on on September 19. The statement also noted the slow pace of development in Ukraine, citing a lack of transparency in licensing and the need for a unified development strategy.

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“From the third world to the first world:” Economic reforms takes center stage at Kiev gathering

Economists, reformers, public figures and businessmen are gathering in Kyiv (Kiev) this week to discuss potential models and tools for a much-needed Ukrainian “economic leap.” The First Kyiv International Economic Forum (KIEF) is set to take place on Thursday at the Hilton Kyiv Hotel in partnership with Ukraine Digital News.

The organizers and speakers will focus on bringing together authorities, experts and business to discuss economic policy, priority sectors and “growth points” of the new economy, including the high-tech sectors.

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Ukrainian Google Play store begins to offer books

Last week, a new section for books appeared in the Ukrainian version of the Google Play store. Users can go there to purchase or download, for free, electronic publications in 11 categories, ranging from books on computers to fiction.

The price of paid copies varies widely, with books for children available for cheaper than a hryvnia and business books, if new, sometimes costing more than a thousand.

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Bernard Casey

How tech innovations and partnerships can help Ukraine reach new goals

Nowadays, implementation of innovations and using high technology can significantly contribute to reaching new goals of Ukraine’s national economic development. Achieving these goals will enable Ukrainians to build a new country with absolutely new formation – the country which can get back its high-quality specialists (especially in IT and R&D sector), develop relevant conditions to attract new investors, bring additional funds in the economy, and thus boost indicators of its main export oriented industries.

All these can be achieved by joint efforts of the Ukrainian business community interested in sustainable business activity, government focusing its efforts on harmonization of the current legislative basis and ensuring needed economic reforms in a timely manner, as well as potential investors taking a final decision on whether get involved in entering the market.

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Swedish IT staffing company opens website development training center in Poltava

Beetroot, a Swedish information technology staffing company, on Sept. 19 opened an academy in Poltava to train website developers on the WordPress platform. Twelve students will undergo a three-month course after which they will be fully employable within Ukraine’s expanding IT sector, reads the company news release.

Called Beetroot Academy, the frontend developer center is supported by the Swedish International Development Cooperation Agency through the Swedish embassy in Ukraine.

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Denis Dovgopoliy

The current turmoil will stimulate high tech investment from large Ukrainian groups

Many oligarchs as well as financial and industrial groups are beginning to understand that physical assets will be hard to preserve. Considering the demographic and cultural movements in Europe and the United States, we cannot consider our world stable in the long term. Looking at the dynamic political, economic, demographic, national and religious maps of the world, we cannot fail to see processes that lead to instability and perhaps war.

The majority of Ukrainian oligarchs and groups have faced the inability to preserve their assets to the current context of rebellion in Eastern Ukraine. They lost control of some of their enterprises and some were physically destroyed. That began to stimulate several processes.

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E-commerce site secures $2.5 million from giant investment firm CIG

Last week, a major Ukrainan e-commerce site, secured $2.5 million from Chernovetskyi Investment Group (CIG), an investment company backed by businessman and former Kiyv (Kiev) mayor Leonid Chernovetskyi.

A groceries delivery company serving the inhabitants of Kyiv (Kiev), was launched in 2010 by Yegor Anchishkin – whose first startup, Viewdle, was acquired by Google in 2012.

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PrivatBank launches offline e-commerce ordering and delivery network

PrivatBank, a leading Ukrainian bank, has launched a network of offline e-commerce access points. These points, christened “Magazin,” are equipped with computers which allow users to place orders at local and foreign e-commerce sites. The sites currently displayed are Comfy, Praktiker, 5ok, TopMall,, daily deal sites Pokupon and Groupon, as well as eBay, Amazon and Alibaba’s subsidiary Aliexpress.

Shoppers are assisted by employees of the bank to create orders, organize shipments from foreign stores, clear customs (if the sum of the order is in excess of 150 euros), or obtain credit for a purchase.

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Interactive Restaurant Technology

Ukrainian entrepreneur Dmytro Kostyk brings his Interactive Restaurant Technology to US market

After testing its interactive surfaces in restaurants in Cyprus, Dubai and Abu-Dhabi, Ukrainian technology company Interactive Restaurant Technology is set to start working in the United States. The startup, which is a brainchild of another Ukrainian company, Kodisoft, is planning to build three “interactive venues” in San Antonio, Texas, and launch a manufacturing line in Nevada in 2015.

IRT’s product offering is an interactive surface that can be used in restaurants and other venues in all kinds of form factors, including tables, points of sale, bar counters, terminals, walls and even floor.

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Mobile Ukraine

Vietnamese mobile operator Viettel may invest in 3G network in Ukraine

Vietnamese company Viettel is interested in the development of the 3G network in Ukraine, said Alexey Shovkoplyas, Ukrainian ambassador to Vietnam, as reported by Ukrainian online publication Inventure.

Viettel is prepared to invest $1 billion towards the development of their own network and would like to obtain licenses for the GSM-1800 (10 MHz), GSM-900 (5 MHz), and UMTS-frequency (10 MHz) bands. The company would also like to offer Internet service, for which it wants to build a 60,000km cable network.

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