Business news from Ukraine

Business news from Ukraine

Ukraine’s public debt to GDP ratio from 2009 to 2023 (UAH mln)

Ukraine’s public debt to GDP ratio from 2009 to 2023 (UAH mln)

Source: Open4Business.com.ua

AMCU fines Bauer Medical GmbH subsidiary

The Antimonopoly Committee of Ukraine (AMCU) fined Bauer Medical GmbH Subsidiary Company (Ivano-Frankivsk) a total of UAH 300,000 for false information on the packaging of Heparin Dr. Bauer cream in 25-gram tubes.

According to the AMCU, the committee concluded that the information stating that this cream is an “anti-varicose, anti-edema, and tonic agent” is false and misleading. At the same time, the company did not provide the committee with sufficient evidence to confirm the information about the properties of the cosmetic product.

At the same time, the company acknowledged the violation, ceased it, and recalled and returned the relevant products, which was taken into account by the committee when calculating the amount of the fine.

The AMCU specifies that the company was fined UAH 100,000 for violating the law on protection against unfair competition and another UAH 200,000 for violating the legislation on protection of economic competition.

LLC “Subsidiary Company Bauer Medical GmbH” was founded in 2001 and is engaged in the retail sale of pharmaceutical and cosmetic products. The ultimate beneficiary of the company is Oksana Shevchenko.

Stalkanat will pay UAH 0.29 in dividends per share for 2024

Shareholders of PrJSC “Production Association ‘Stalkanat’ (Odessa) once again intend to allocate UAH 60,511,837 thousand for the payment of dividends at a rate of UAH 0.58 per share from the profit for 2024.

The relevant issue has been included in the agenda of the extraordinary general meeting of shareholders scheduled for June 11 this year in remote mode.

According to the draft decision, which was reviewed by Interfax-Ukraine, it is planned to pay dividends from part of the net profit for 2024 in the amount of 60 million 511 thousand 836.74 UAH, calculated at 0.29 UAH per share, through direct payment to shareholders.

The deadline for dividend payments is December 11, 2025. Payments will be made directly to shareholders’ accounts.

Earlier, Stalkanat shareholders included this issue on the agenda of the general meeting of shareholders scheduled for March 10, 2025.

At the same time, the overall profit figures for 2024 are not provided.

Stalkanat is one of the largest manufacturers of steel ropes and reinforcing bars in Eastern Europe and a leader in the production of metal products in Ukraine.

According to the National Securities and Stock Market Service for the fourth quarter of 2024, Davyd Nemirovsky owns 50% of the shares, Anton Mikhalenko owns 23.7%, and Maria Kondratyuk owns 23.1%. Earlier, the company reported that Vitaly Dubovich, a natural person, owned 3.199998% of its shares.

The authorized capital of Stalkanat is currently UAH 17.736 million, with a par value of UAH 0.17 per share.

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USPA increased its profit by 3.4 times and revenue by 56% in 2024

The state-owned enterprise Ukrainian Sea Ports Authority (USPA) increased its revenue by 55.56% to UAH 6.3 billion in 2024.

According to the annual report available to Interfax-Ukraine, the company’s net profit increased 3.4 times to UAH 2.77 billion.

According to the results of 2024, the cargo turnover of six seaports in Chornomorsk, Odesa, Pivdennyi, Reni, Izmail, and Ust-Dunaysk increased by 57.1% compared to the same period in 2023, reaching 97.3 million tons.

The USPA manages state-owned ports and a number of state-owned enterprises, pursuing the goal of ensuring the functioning and development of seaports through the efficient use of state property, the reconstruction and construction of port infrastructure facilities, and the provision of maritime navigation.

The company’s activities are financed by port fees collected in accordance with the law, fees for services subject to state regulation, rent, and other sources not prohibited by law.

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From June 1, a visa-free regime will be introduced between Uzbekistan and China

On June 1, 2025, the Agreement on the mutual abolition of visas between Uzbekistan and China will come into force.

Under the Agreement, citizens of the Parties shall be exempt from visa requirements for entry, exit, or transit through the territories of both countries for a period of up to 30 days for each separate stay and a total of up to 90 days within any 180-day period.

At the same time, the period of each entry and stay in the territory of the Parties shall not exceed 30 days.

The visa-free regime does not apply to employment, study, media activities, or other activities that require prior approval by the competent authorities of the other Party.

More details

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On May 27, Council of European Union will hold hearing on depriving Hungary of its voting rights

On Tuesday, May 27, the Council of the European Union will hold a hearing on depriving Hungary of its voting rights in the Council, according to the agenda of the General Affairs Council of the European Union. This will be the eighth hearing on Hungary’s violations.

The procedure regarding Hungary’s possible violation of Article 7 of the Treaty on European Union was launched back in 2018. At that time, the European Parliament expressed its concern about the situation in Hungary, in particular regarding the functioning of the constitutional and electoral systems, the independence of the judiciary and other institutions, the rights of judges, corruption and conflicts of interest, confidentiality and data protection, freedom of expression, academic freedom, freedom of religion, freedom of association, the right to equal treatment, the rights of persons belonging to minorities, including Roma and Jews, and protection against hate speech against such minorities, the fundamental rights of migrants, asylum seekers, and refugees, as well as economic and social rights.