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Monday 15 April 2024

MiniBoss Startup Forum: Entrepreneurs Support Student Projects with Grants

The 24th Startup Forum, organised by MiniBoss Business School International and BigBoss Business School International, took place in Odesa.

Children and teenagers aged 6-18 presented their startup ideas and received grants twice as much as they had requested.

The mission of the Startup Forum is to form a new business elite capable of developing national economies, creating new goods and services, and improving people's living standards.

In the first semester, students learn theory in a game format. In the second semester, they move on to practice. They form teams, develop a startup business idea and implement projects in practice.

It is the idea stage of educational process: students present at the Startup Forum ideas of business projects, in which business angels invest their capital.

Later on, the students of the Business School present their completed startups at the Startup National Cup Championship and Startup World Cup Championship, where the best works will receive support, recognition and awards from adult entrepreneurs.

Photos: MiniBoss Business School

Friday 12 April 2024

Impact of war duration on Ukraine's economy: World Bank forecast

The economic prospects of Ukraine depend on the timing and volume of external assistance inflows and the anticipated duration of the Russian invasion, according to the World Bank forecast for Europe and Central Asia countries.

According to an indicative scenario that assumes active combat will continue throughout 2024, GDP growth in 2024 is expected to be 3.2%. Starting in 2025, Ukraine's economic growth is projected to accelerate to 6.5%, which aligns with the base assumption as export growth and investment in recovery pick up.

Private consumption growth is expected to remain modest due to a restrained monetary policy necessary to curb post-war inflation.

Inflation is expected to rise in 2024 due to one-off factors but is forecasted to decline from 2025 onwards.

"This scenario is subject to significant downside risks due to the vulnerability of Ukraine's economic trajectory to external financing shortfalls and the possible prolongation of the active hostilities beyond 2024. Should downside risks materialize, a more stringent macroeconomic adjustment could become necessary. That adjustment could affect social spending and transfers to households that most of the poor have come to depend on, which could push many of them deeper into poverty," the overview states.

Tuesday 9 April 2024

US tightens restrictions on export of AI chips to China

The administration of Joe Biden reviewed restrictions on the supply of American artificial intelligence (AI) microchips and chip production tools to China, reports Reuters.

As explained by the news provider, the restrictions were introduced for reasons of national security. The rules were first implemented in October 2023 and aimed to halt shipments of advanced AI microchips developed by Nvidia and other companies to China. States fear that the progressive technological sector will contribute to the strengthening of the Chinese military.

The new restrictions will come into effect on Thursday, April 4. Among them, restrictions will also apply to laptops containing these chips.

"The Commerce Department, which oversees export controls, has said it plans to continue updating its restrictions on technology shipments to China as it seeks to bolster and fine-tune the measures," Reuters adds.

Chip supply restrictions to China

Monday 8 April 2024

Global Business Week 2024 will be held in Istanbul on June 28 - July 2

Join now! The #GlobalBusinessWeek2024Turkey will be held in Istanbul on June 28 - July 2!

We will meet there with hundreds of global business leaders from 35+ countries. But let's know more about Turkish Business Etiquette in advance.

Business Etiquette

Corporate social responsibility has become a vital and popular issue in Turkey. It has become apparent to businesses that developing the sustainability of resources is as important as financial sustainability.

Business interest in corporate sustainability and corporate social responsibility is growing in Turkey. According to a recent survey of leading Turkish automotive distribution companies, there is a rising awareness of the importance of corporate social responsibility in Turkey.

The findings of the survey highlighted the need for the Turkish parliament to pass relevant legislation and introduce tax incentives in order to promote corporate social responsibility and provide programs for community involvement, especially in education.


Turkish people are very traditional and formal when doing business. Therefore, scheduling appointments in advance is important. Furthermore, Turkish people value punctuality and expect international professionals engaging in business with them to do the same. If for some reason you are going to be late, it is essential to call ahead as soon as possible with a reasonable explanation.

Gift giving

In business relationships, gift-giving is not generally practised. If you decide to give a gift, avoid expensive gifts and choose something small, such as a souvenir from your home country. For social occasions like birthdays, weddings, and religious ceremonies, gift-giving is normal.

Business dress code

Styles of business attire in Turkey, particularly in the larger cities, are pretty much the same as in other developed countries. Men wear a conservative suit and tie, while women normally wear business suits with either a skirt or pants. During the summer, lighter clothes are acceptable; men can wear a shirt and trousers without a jacket and perhaps even a tie, depending on the formality of the business. Women can wear lighter clothes, without a jacket but make sure not to wear anything too tight or revealing.