News digest of Ukraine and the world. Economy and business.
Ukrainian restaurant chain creates pizza using AI

The 1708 Pizza dі Napoli restaurant chain in Ukraine has become the first in the country to create a pizza named "Futuro" using artificial intelligence (AI) Chat GPT. The team collaborated with the AI to discuss concepts and geographical considerations for a new menu item. The AI, Chat GPT, came up with the innovative pizza idea, which has been embraced by the head chef. The Futuro pizza is now available in the chain's establishments in Lviv and Kyiv.

Source: mmr.ua

Impact of the war on SMEs in Ukraine

The European Bank for Reconstruction and Development (EBRD) has released the results of a study indicating that almost a year after the Russian invasion, the majority of surveyed Ukrainian small and medium-sized enterprises (SMEs) have managed to stabilize their operations, demonstrating resilience in the face of the war's destructive impact on the economy.

According to the research, 57% of the 166 surveyed SMEs continue to operate as before, 6% have suspended their activities, and 37% are still operating but with reduced activity. If the war persists for another six months, 79% of SMEs believe they can continue their operations in the current format. However, if the war extends for a year or more, only 62% of respondents think they can sustain their business in the same way.

Source: sostav.ua

McDonald’s announces second phase of restaurant reopening in Ukraine

McDonald’s announces plans to resume operations in several cities in the southern and eastern parts of Ukraine. The company is considering opening restaurants in Odessa at the end of March, Dnipro at the end of April, and in other cities. The company's plans may be adjusted based on the current security situation in the cities and regions. As the war has been ongoing for a year, McDonald’s emphasizes the importance of supporting local communities and providing Ukrainians with their favorite dishes and familiar services. Ensuring the safety of visitors and employees is a top priority, and restaurants will operate according to enhanced safety protocols implemented in all open establishments in Ukraine.

Source: sostav.ua

Food price growth slows to a minimum in Ukraine

According to State Statistics,the growth of prices in Ukraine has slowed to a minimum, reaching only 0.7% in February compared to January. Prices for fruits, poultry, fish, bread, milk and dairy products, pasta, and non-alcoholic beverages increased by 1.4% to 0.4%. Meanwhile, prices for processed grain products, eggs, rice, lard, beef, pork, and sunflower oil decreased by 2.3% to 0.4%. This marks the lowest price growth since the beginning of the war, with a similar level recorded in November-December of the previous year.

Source: delo.ua

Rozetka launches in Poland

Rozetka has started operating in Poland, initially in a test mode, to check all processes, populate the website with products, and streamline logistics. The co-founder of Rozetka, Vladyslav Chechotkin, mentioned the focus on both the large Ukrainian audience in Poland (over 2 million Ukrainians residing there) and the local Polish market. The website, accessible in both Polish and Ukrainian languages at https://rozetka.pl, allows users to purchase and order products with nationwide delivery. The online retailer's assortment already includes categories such as home appliances, electronics, clothing, footwear, children's goods, pet supplies, household items, tools, and more, with the selection rapidly expanding.

Source: sostav.ua

Ministry of Economy revises Ukraine's GDP contraction estimate for 2022

The Ministry of Economy has adjusted its estimate of Ukraine's gross domestic product (GDP) contraction for 2022 to 29.2%. This revision comes after the State Statistics Service released operational data on Ukraine's GDP in the fourth quarter of 2022. The previous estimate of the Ukrainian economy's contraction was 30.4% (±2%). According to the First Deputy Prime Minister and Minister of Economy Yulia Sviridenko, the slightly better indicator than previously thought was made possible through coordinated efforts of the government, parliament, assistance from international partners, high adaptability of businesses, and the population.

Source: delo.ua

69% of consumers in Ukraine prefer domestic brands

To verify this, research company Gradus Research conducted a study on consumer sentiments in Ukraine and six other European countries (Poland, Germany, the United Kingdom, Italy, France, the Netherlands). The survey, conducted for the GO GLOBAL UA conference through a self-filled questionnaire in a mobile app, revealed that Ukraine, like other countries, prefers its own manufacturers. Among the second-choice countries, Ukrainians favor Germany, the United States, and the United Kingdom. The study explores the factors influencing the choice of a country of origin and what aspects consumers pay attention to.

Source: delo.ua

 

Average annual commercial utilization of inventory reached 32%: Ukraine's outdoor advertising market in 2022

The year 2022 was exceptionally challenging for Ukraine, especially economically. Destructive events in the economy had an impact on the outdoor advertising industry. Besides a decrease in orders, many operators lost inventory and the ability to work in cities where active combat was taking place. Complications in logistics and the departure of some workers beyond Ukraine's borders further worsened the situation for operators. Only in May did signs of adaptation to the conditions Ukraine faced since late February 2022 begin to appear in the advertising activities of brands. In June, the volume of commercial placements exceeded social (free) advertising, and this ratio persisted until the end of the year.

Source: mmr.ua

i am u are – event and platform dedicated to the Ukrainian creative economy, launches in the USA

i am u are, a platform and event supporting over 100 brands and enhancing Ukraine's investment attractiveness, aims to ensure overall economic growth and support the creative economy. The event, featuring a creative architectural concept and a selection of Ukrainian brands and companies, is organized by Anna Pagava, the GOGŌLA communication agency, and hospitality expert Khrystyna Skrypka. The project will include a fair, exhibition, and startup presentations. The event is intended to be a space where prominent Ukrainians can showcase their projects, establish cooperation, and engage in dialogue with the American community and investors.

Source: sostav.ua

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