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.

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

France to send hundreds of armored vehicles and missiles to Ukraine - Ministry of Defense

France is preparing a new package of military aid for Ukraine. It will include hundreds of armored vehicles and Aster anti-aircraft missiles, according to the French Defense Minister Sebastien Lecornu.

He noted that the focus is on armored vehicles currently in France's inventory, but they are planning to replace them with newer ones.

"To hold such as extensive front line, the Ukrainian army needs for example our VAB vehicles: it's absolutely essential for troop mobility. This old equipment, still operational, will be able to directly benefit Ukraine in significant quantities. We can talk about hundreds of them for 2024 and early 2025," the minister said.

According to Lecornu, France also aims to assist in strengthening Ukraine's air defense, thus preparing a new batch of Aster 30 anti-aircraft missiles for the SAMP/T air defense system. These SAM systems are counterparts to the Patriot system.

The minister added that France is developing remotely controlled munitions. It is likely that they could be delivered to Ukraine as early as this summer.

France's assistance

It is worth noting that France is one of the leading countries in providing assistance to Ukraine. Paris has provided military and financial aid and supported EU sanctions against Russia.

In winter, Ukrainian President Volodymyr Zelenskyy visited France and signed a security guarantee agreement with President Emmanuel Macron.

Later, Zelenskyy announced that Ukraine would receive a new package of military assistance from France, including artillery shells, self-propelled artillery systems Caesar, and additional air defense reinforcement.

Senlis: The Home of Anna of Kyiv, Queen of France

Senlis - The Town of Anna Yaroslavna

Located 50 kilometers north of Paris, the town of Senlis is known to tourists as one of the oldest towns in France and to locals as the town of Anna of Kyiv, daughter of Yaroslav the Wise.

 

This town is unlike any other in France. It features low-rise sand-brown buildings, narrow streets, and a quiet that is occasionally broken by the chime of bells.

It has preserved architecture from the Gallo-Roman period and the Middle Ages. The remnants of the town walls from those times, the Notre-Dame de Senlis Cathedral built in the 12th century - one of the first Gothic cathedrals in France, and several monuments to Anna of Kyiv.

There are no new buildings in the town. The Senlis City Hall does not grant permits for the construction of modern buildings.

The Notre-Dame de Senlis Cathedral is a prime example of French Gothic.

Anna of Kyiv moved to Senlis with her son in 1060 after the death of her husband, Henry I of France, of the Capetian dynasty. She lived in the town for the rest of her life and was also buried there.

Anna of Kyiv, as she was known in Europe, is not well documented. She was reputed to be an unusually beautiful woman with "golden" hair and blue eyes.

The queen was very educated: she knew Greek and Latin and signed herself "Anna-regina" (Queen Anna) at a time when King Henry I would simply mark a cross for his signature.

According to some sources, Anna of Kyiv brought the so-called Reims Gospel, written in Cyrillic and Glagolitic, to France. For several centuries, all subsequent French kings took their coronation oaths on it.

In the 1060s, Anna founded the Abbey of Saint Vincent in Senlis and also opened a small church.

During the French Revolution, the abbey was destroyed but was later restored.

At the entrance to the monastery, a statue of the queen holding a model of the church she founded was erected. The inscription on the pedestal reads: Anne de Kiev - reine de France (Anna of Kyiv - Queen of France)

Today, the abbey's territory hosts a lyceum, and the nearby church was purchased in 2013 by the Ukrainian Eparchy of Saint Volodymyr in Paris.

The church serves as a temple of the Ukrainian Greek Catholic Church. A cultural center dedicated to Anna of Kyiv, representing Ukrainian culture, has been opened there.

Another monument to Queen Anna was gifted to Senlis by Ukraine in 2005. President Viktor Yushchenko participated in its unveiling. At that time, Senlis and the Pechersk district of Kyiv officially became twin towns.

Today, French and Ukrainians together honor the memory of Anna of Kyiv. Every May, celebrations of Queen Anna's days take place in Senlis, France.

 

 Ukrainian

Alibaba Group plans to deliver parcels using rockets

The Taobao online store, which is part of the Alibaba Group, intends to deliver packages to its customers worldwide in the future using reusable rockets from the Space Epoch startup, according to Reuters.

For the past few years, Space Epoch has been developing reusable rockets capable of delivering cargo to low Earth orbit. The company's rockets will be 64 meters long and can deliver up to 6.5 tons of payload to a sun-synchronous orbit at an altitude of 1100 km. The company estimates that one rocket can be used up to 20 times. Currently, tests and trials of individual rocket elements are underway.

According to Taobao's plan, the online platform will be able to use these rockets for express delivery of goods worldwide. It is envisaged that tons of cargo will be delivered on one rocket in special containers.

However, Taobao representatives note that despite plans to start test launches in the coming years, implementing this delivery method in the short term is unlikely.

Google engineer steals AI technology, works for China - US Department of Justice

Working for a Chinese company, a Google engineer has been secretly stealing artificial intelligence technology since 2022, according to Business Insider.

According to the agency, 38-year-old Google engineer Linwei Ding has been charged by the US Department of Justice for stealing artificial intelligence technology. This involves more than 500 files containing information about the application of AI by Google's artificial intelligence data processing center.

According to prosecutors, around June 2022, the specialist, who had been working at Google since 2019, began cooperating with a Chinese company, which, according to the agreement, could offer him a salary of over $14,000 monthly.

As part of his job responsibilities, the man had access to confidential information about AI models and their hardware structure, such as how neural networks work or are applied.

GLOBAL BUSINESS WEEK 2024 will be in Paris, France

GLOBAL BUSINESS WEEK 2024 & EUROWOMAN Global Forum will be held on March 27 - April 3 in Paris, France.

Together, we embark on a remarkable journey of forging a community of business leaders and individuals who shape the present and construct the future for their nations - GBW 2024 Paris

ABOUT THE GLOBAL BUSINESS WEEK 2024

GLOBAL BUSINESS WEEK: CONNECTING GLOBAL LEADERS

KNOWLEDGE EXCHANGE & INNOVATION
Participants of Global Business Week have a unique opportunity to establish valuable business connections, explore new opportunities for international expansion, and enhance their knowledge of global business.

This event offers a stimulating environment for idea exchange, strategic partnerships, and discussions on key challenges and trends impacting the global market.

GLOBAL BUSINESS WEEK: BUSINESS NETWORKING

BUSINESS CONNECTIONS & STRATEGIC DISCUSSIONS
Whether you are an entrepreneur, a top executive, or a student, Global Business Week provides a rich programme that will help you broaden your understanding of modern international business practices and inspire you with new possibilities and innovations.

Join Global Business Week and immerse yourself in the dynamic atmosphere of global business, where the brightest minds come together to create a future.

GLOBAL BUSINESS WEEK: UNLEASH BUSINESS POTENTIAL

INSPIRING INNOVATION AND COLLABORATION
Global Business Week is an international business event that brings together leaders, entrepreneurs, and innovators from around the world to exchange knowledge, experience, and perspectives in the field of international business.

This week is filled with diverse seminars, conferences, panel discussions, and business meetings covering a wide range of topics related to global entrepreneurship, international investments, digital technologies, marketing, sustainable development, and more.

The special event will be the EUROWOMAN Global Forum on March 28.

The Forum has 2 parts: Women in Global Diplomacy & Women in Business.

The threat of the Third World War prompted millions of people around the world to come out in defence of Ukraine and not allow the spread of terror and evil emanating from Russia. Today, when Russia kills peaceful Ukrainians every day, economic, climate and business issues have become secondary, because everyone felt how precarious life on Earth is when the presence of nuclear weapons caused the emergence of terror in the hands of russia. All of this forced us to reconsider the basic laws and institutions on which the world stands in order to make the world a safer and more responsible place.

The forum speakers will form their proposals and formulas for global security because every life matters and global leaders are united in an effort to change the world for the better.

The event will mark the importance of women coming together to make a difference by using their voices to champion change. By supporting one another to challenge global law-breaking, and inequalities and educate others on how positive change is achieved. The forum will mark the economic, political and social achievements of women past, present and future. 

Charity will be an obligatory part of the forum. Forum delegates will raise money for support for Ukrainian children affected by the war.

Organizers of the event: Olga Azarova, Tatyana Markova, Svetlana Gerey, Lyudmila Stanislavenko - World Woman Club and Cultural Diplomacy NGO.

Your registration here - Official website: https://gbw.forum-expo.org