Emerging Markets

Roksolana Pyrkto on Shopping Centers vs. E-Commerce in Emerging Markets: Why Slovakia, Ukraine and the UAE Chose Different Paths

The conventional narrative about retail in emerging markets runs something like this: e-commerce is winning, physical retail is losing, and the only question is how fast the transition happens. The data from three markets — Slovakia, Ukraine, and the UAE — tells a more complicated story. Each faced the same structural pressure from digital commerce […]

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Argentina After Reforms: Will Vaca Muerta Become a New Pillar of European Energy Security?

For decades, Argentina lived with a paradox all too familiar to every energy expert: the country possesses exceptional resources — world-class shale gas, high-quality lithium, and vast wind and solar potential — yet it consistently failed to convert this wealth into stable growth. Macroeconomic volatility and unpredictable rules of the game repeatedly interrupted investment cycles.

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The need for Ukraine to invest in its own gas production

In my previous blog, I analyzed how the full-scale war has changed Ukraine’s energy sector and why renewables have become the foundation of a new development model. “Green” energy truly offers Ukraine strategic prospects for integration with Europe, but it cannot be the sole pillar in times of war and reconstruction. For system stability, a balance

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How international investors view “green” energy in Ukraine

The full-scale war has radically changed the Ukrainian energy sector. According to the fourth Rapid Damage and Needs Assessment prepared by the World Bank, the Government of Ukraine, the European Commission, and the UN, Ukraine’s energy sector suffered direct losses amounting to 20.51 billion US dollars as of early 2025. Systematic attacks on thermal and hydroelectric

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