Business news from Ukraine

Business news from Ukraine

VITALI KLITSCHKO WINS LAWSUIT AGAINST 1+1 TV CHANNEL

Kyiv Mayor Vitali Klitschko has won a lawsuit against the TV Broadcasting Company Studio 1+1, the press service of Kyiv City State Administration has said.
The lawsuit concerned the airing of the program Hroshi (Money) by Olekandr Dubinsky on the 1+1 TV channel. After the release of the program in August 2019, Klitschko and co-plaintiff Dmytro Bilotserkovets filed a lawsuit to protect honor, dignity and business reputation.
“As you remember, then a wide discrediting campaign was launched against me. And I declared that I would defend my honor and dignity in court. Therefore, I filed a lawsuit against the 1+1 TV channel, which threw mud at me. There is no talk of a restriction on freedom of speech,” Klitschko said.
Following the consideration of the lawsuit, the court satisfied it, obliging the 1+1 TV channel to refute the false information on the air of the program Hroshi. The court also ordered the Studio 1+1 to remove the program in which false information was made public from all information resources of the TV company and related social networks.

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FOZZY GROUP ENDS 2020 WITH PROFIT

PrJSC Fozzy Group (Vyshneve, Kyiv region) ended 2020 with a net profit of UAH 8.6 million, while in 2019 it saw a net loss of UAH 5 million.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission on the meeting of shareholders scheduled for April 2, dividends for 2020 are not planned to be charged or paid.
As indicated in the report, the net profit per share of Fozzy Group for the last year amounted to UAH 0.27, while in 2019, UAH 0.35 of a loss was per share.
Retained earnings of the company in the past year doubled and amounted to UAH 16.3 million.
The total accounts receivable of the PrJSC last year decreased 63%, to UAH 932.5 million, current liabilities decreased 32%, to UAH 1.6 billion. The company has no long-term obligations.
Fozzy Group’s assets at the end of 2020 decreased 17%, to UAH 3.6 billion.
PrJSC Fozzy Group was established in 2005. According to the National Securities and Stock Market Commission, the shareholder of the PJSC is Fozzy Group LLC (98.7%). In the unified public register of legal entities and private entrepreneurs, Volodymyr Kostelman is indicated as the ultimate beneficiary.
The registered capital of the company is UAH 32 million.

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H&M TO OPEN FIRST STORE IN KHARKIV

Swedish retailer H&M will open its first store in Kharkiv in May 2021 in new Nikolsky shopping mall, expanding its chain in Ukraine to six outlets, the retailer’s press service said.
The total area of the store is 2,100 square meters, of which about 1,700 square meters are shopping area. This is the sixth store of the chain in Ukraine and the first outside the Ukrainian capital.
“We see a high interest in the H&M brand in the regions and therefore are pleased to announce the opening of a store in Nikolsky shopping center in Kharkiv. I am sure that Kharkiv residents will appreciate both a wide range of goods and a modern store concept,” H&M Ukraine CEO Dominik Fantachino said.
According to H&M, the space of the store will differ from other stores of the chain in Ukraine with an updated interior concept. Buyers can expect a wide range of women’s, men’s, teenage and children’s clothing.

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PRESIDENT OF UKRAINE: WE SHOULD PROVIDE EVERY CITIZEN WITH HIGH-SPEED INTERNET

President of Ukraine Volodymyr Zelensky discussed with the profile ministers the digitalization of the economy, the strategy for the development of culture and sports for the coming years, the press service of the head of state has said.
Deputy Prime Minister of Ukraine, Minister of Digital Transformation Mykhailo Fedorov told Zelensky about the goals that his ministry intends to achieve. In particular, there are plans to transfer 100% of government services online. The minister noted that about 95% of Ukrainians should have access to high-speed Internet, and the share of the IT industry in the economy should be at least 10% of GDP.
According to Fedorov, about 500,000 Ukrainians have completed digital education courses, and 2.5 million people have a high-speed Internet connection. This year, about 6,500 social facilities, including hospitals and schools, will be provided with high-quality Internet. High-speed Internet will also be provided along the main highways.
“Our goal is for Ukraine to enter the top 20 digital countries of the world. To do this, we must provide every Ukrainian with high-speed Internet anywhere in our country. Our citizens and business positively perceive digitalization and are open to innovations, and our IT specialists are valued around the world. Therefore, there is everything we need to become the world’s largest hub for high-tech manufacturing and startups,” Zelensky said.

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VENICE COMMISSION PRESIDENT URGES UKRAINE TO ADOPT LAWS ALLOWING PARTICIPATION OF INTL EXPERTS IN SELECTION OF CONSTITUTIONAL COURT JUDGES

President of the Council of the European Commission for Democracy through Law (Venice Commission) Gianni Buquicchio called on the Verkhovna Rada to adopt laws that will allow the participation of international experts in the selection of judges of the Constitutional Court of Ukraine on a competitive basis.
“In Ukraine, we have a serious problem of public trust in State institutions. Even when they do honest and good work, people do not trust them because so many corrupt practices have been revealed in the past. People do not know who they can believe,” Buquicchio has said at the Ukraine 30. Development of Justice forum on Wednesday.
“When this is not possible from the inside, trust has to be built with outside help, with the support of the international community who are ready to nominate international experts with high moral quality; experts who can ensure that candidates are properly vetted before they are appointed,” he has said.
International experts shall be working side by side with Ukrainians to ensure that your courts and judicial bodies are composed of people who live up to high moral and ethical standards, Buquicchio has said.
“Concepts and strategic orientation are on the table. Now, they should be implemented. I do hope that the Ukrainian Parliament will manage to unblock the discussions to adopt laws that enable these mixed bodies to work together for the benefit of the Ukrainian people. It is time to act and adopt the laws that will make a difference and to implement them. The Council of Europe and its Venice Commission are here to help and support you,” the Venice Commission President has said.
He has said that a key element of the December urgent opinion was the recommendation to establish a new system of competitive selection of judges, involving a screening body with international participation.
Buquicchio has said that an effective fight against corruption and respect for judicial independence and the Rule of Law have to go hand-in-hand. “There can be no effective fight against corruption without an independent judiciary and respect for the Rule of Law. Equally, there can be no independent judiciary and respect for the Rule of Law when corruption is pervasive. As long as corruption remains widespread the Ukrainians cannot enjoy the rule of law. Nor will you achieve public trust in institutions or confidence on the part of investors. Your country cannot prosper under those circumstances,” he has said.
The Venice Commission President has said that creating specialized institutions or adopting new laws will not in itself improve the ability to prevent and combat corruption. But effective, well-funded, and well-staffed anti-corruption institutions and courts that are left to do their work without undue interference will make a difference.

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UKRAINIAN HEALTH MINISTRY EXPECTS UP TO 7 MLN MONTHLY VACCINATIONS IN SUMMER

Ukraine will expedite the vaccination against coronavirus (COVID-19) and administer from 5 million to 7 million vaccine shots per month in summer, Ukrainian Health Minister Maksym Stepanov said.
“We are planning to reach the target [from 5 million to 7 million vaccine shots per month] sometime by summer. Yet again, that would require everyone’s compliance with the earlier agreements, and that constitutes a problem,” Stepanov said on the Svoboda Slova program aired by the ICTV television channel on Monday night.
There are few vaccinations on weekends because doctors tasked with administering the vaccine at the first stage have their days off, he said when commenting on the opinion that the vaccination process might take over a decade unless vaccination is expedited.
The minister assured the audience that the number of vaccine shots would grow to 10,000 this week.

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