Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Kyivstar Group Ltd. operates as a holding company. The Company, through its subsidiaries, provides services across a wide range of mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, and digital TV. Kyivstar Group serves customers in Ukraine and the United Arab Emirates.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kyivstar-group-ltd" target="_blank" data-smartkarma-citation="entities:45682:1" rel="noopener">Kyivstar Group (KYIV US)</a> launched Starlink Direct to Cell on November 24, making Ukraine the first European country with commercial satellite connectivity to mobile phones.</li>
<li>Satellite connectivity provides Kyivstar a differentiated capability that should be positive for customer churn management given the ‘insurance value’ of having satellite backup connectivity for Ukrainians.</li>
<li>Kyivstar’s Starlink partnership is a net positive for the shares. We reiterate our Structural Long rating and US$19.8 target price. KYIV shares are trading at just 5.1x 2025E EV/EBITDA.</li>
</ul>



Kyivstar Group (KYIV US) launched Starlink Direct to Cell on November 24, making Ukraine the first European country with commercial satellite connectivity to mobile phones.
Satellite connectivity provides Kyivstar a differentiated capability that should be positive for customer churn management given the ‘insurance value’ of having satellite backup connectivity for Ukrainians.
Kyivstar’s Starlink partnership is a net positive for the shares. We reiterate our Structural Long rating and US$19.8 target price. KYIV shares are trading at just 5.1x 2025E EV/EBITDA.


Kyivstar (KYIV US): New Starlink Direct to Cell Net Positive for Market Position

Independent Price Reporting Agency, QC Intel

Quantum Commodity Intelligence

Independent Price Reporting Agency

QC Intel

We are an independent price reporting agency (PRA) providing price assessments, original news and trade data for the global energy transition markets.

Our mission is to bring greater transparency to these rapidly developing markets, powering transactions and helping the world to decarbonize as efficiently as possible.

Commodities

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>Crude oil futures Friday were little changed although Brent tested weekly highs as doubts grow on the prospects for a Russia-Ukraine settlement.</li>
<li>Front-month Jan26 ICE Brent  futures were trading at $63.33/b (1854 GMT) versus Thursday's settle of $63.34/b, but off from the week's high of $63.76/b.</li>
<li>Jan26 NYMEX WTI was at $59.21/b , after trade resumed following a technical glitch.</li>
</ul>


Crude oil futures Friday were little changed although Brent tested weekly highs as doubts grow on the prospects for a Russia-Ukraine settlement.
Front-month Jan26 ICE Brent  futures were trading at $63.33/b (1854 GMT) versus Thursday's settle of $63.34/b, but off from the week's high of $63.76/b.
Jan26 NYMEX WTI was at $59.21/b , after trade resumed following a technical glitch.


Oil futures: Brent tests weekly highs, WTI resumes after CME glitch

<ul><li>Crude oil futures were moving sideways Thursday as markets entered into a holding pattern amid ongoing talks on the Russia-Ukraine peace deal.</li><li>Front-month Jan26 ICE Brent  futures were trading at  $63.34/b (1930 GMT) versus Wednesday's settle of $63.13/b, while Jan26 NYMEX WTI  was at  $59.10/b against a previous close of $58.65/b.</li><li>Analysts said that while both Moscow and Kyiv have accepted versions of the US-brokered plan, there are still several key sticking points, particularly regarding Russia's territorial demands.</li></ul>

Crude oil futures were moving sideways Thursday as markets entered into a holding pattern amid ongoing talks on the Russia-Ukraine peace deal.Front-month Jan26 ICE Brent  futures were trading at  $63.34/b (1930 GMT) versus Wednesday's settle of $63.13/b, while Jan26 NYMEX WTI  was at  $59.10/b against a previous close of $58.65/b.Analysts said that while both Moscow and Kyiv have accepted versions of the US-brokered plan, there are still several key sticking points, particularly regarding Russia's territorial demands.

Oil futures: Crude prices nudge up, benchmarks rangebound

<ul>
<li>Crude oil futures closed higher Wednesday amid volatile trade, with investors waiting for a response from Russia after Ukraine backed the revised US-brokered peace deal.</li>
<li>Front-month Jan26 ICE Brent  futures were trading at  $63.05/b (1951 GMT) versus Tuesday's settle of $62.48/b, while Jan26 NYMEX WTI  was at  $58.57/b against a previous close of $57.95/b.</li>
<li>Benchmarks recovered after closing at the lowest levels in a month as investors priced in what was seen as significant progress towards a peace deal.</li>
</ul>


Crude oil futures closed higher Wednesday amid volatile trade, with investors waiting for a response from Russia after Ukraine backed the revised US-brokered peace deal.
Front-month Jan26 ICE Brent  futures were trading at  $63.05/b (1951 GMT) versus Tuesday's settle of $62.48/b, while Jan26 NYMEX WTI  was at  $58.57/b against a previous close of $57.95/b.
Benchmarks recovered after closing at the lowest levels in a month as investors priced in what was seen as significant progress towards a peace deal.


Oil futures: Prices higher as Russia response awaited for peace deal

<ul><li>Crude oil futures fell on Tuesday after Ukraine agreed to an amended peace deal following negotiations with the US, although Russia's reaction to the new terms remains unclear.</li><li>Front-month Jan26 ICE  Brent  futures were trading at  $62.42/b (1951 GMT) versus Monday's settle of $63.37/b, while Jan26 NYMEX WTI was at  $57.91/b against a previous close of $58.84/b.</li><li>The original 28-point blueprint was widely viewed as too lopsided in favour of Moscow, but following weekend talks in Geneva, the proposals have been reduced to 19 points, removing some of the more onerous conditions that were backed by Russia.</li></ul>

Crude oil futures fell on Tuesday after Ukraine agreed to an amended peace deal following negotiations with the US, although Russia's reaction to the new terms remains unclear.Front-month Jan26 ICE  Brent  futures were trading at  $62.42/b (1951 GMT) versus Monday's settle of $63.37/b, while Jan26 NYMEX WTI was at  $57.91/b against a previous close of $58.84/b.The original 28-point blueprint was widely viewed as too lopsided in favour of Moscow, but following weekend talks in Geneva, the proposals have been reduced to 19 points, removing some of the more onerous conditions that were backed by Russia.

Oil futures: Crude slides as Ukraine backs new peace proposal