Business news from Ukraine

Business news from Ukraine

Solemn Iftar on occasion of Ramadan and Pakistan Day was held in Kyiv

On March 23, the Islamic Cultural Center of the capital hosted a solemn Iftar in honor of the holy month of Ramadan and the Day of Pakistan. This event became a meeting place for Pakistani citizens living in Ukraine, as well as other distinguished guests.

The event began with a traditional prayer, after which the Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Pakistan, H.E. Major General (Retired) Nadir Khan delivered a speech in which he quoted the main points from the address to the Pakistani nation by the President of the Republic Asif Ali Zardari.

In his address, the President of Pakistan emphasized the importance of the historic “Pakistan Resolution” of 1940, which marked the beginning of the formation of an independent state. He recalled the tireless efforts and sacrifices of the ancestors for the sake of freedom and emphasized the importance of unity and joint efforts in overcoming current challenges such as inflation, unemployment and terrorism.

Emphasizing his commitment to democratic values and economic recovery, the President also called on citizens to unite for a future “full of peace, progress and stability.”

“Let us work for a Pakistan that is united around common values,” he emphasized, calling for a state where there are no differences but unity.

The Islamic Republic of Pakistan recognized Ukraine’s independence on December 31, 1991. On March 16, 1992, diplomatic relations between Ukraine and Pakistan were established. The Embassy of Pakistan has been operating in Kyiv since October 1997.

Photo source: https://www.facebook.com/UkrDiplomatic

Flag raising ceremony on occasion of National Day of Pakistan was held at Embassy of Pakistan

On March 23, 2024, the Embassy of the Islamic Republic of Pakistan in Ukraine held a solemn ceremony of raising the national flag on the occasion of Pakistan Day.

Every year on March 23, Pakistanis celebrate the adoption of the Pakistan Resolution of 1940 by the All India Muslim League in Lahore on the creation of an independent state for Muslims.

Since then, the struggle for the creation of Pakistan intensified and only seven years after the adoption of the Pakistan Resolution on August 14, 1947, Pakistan emerged.

After the reading of the Holy Quran, the Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Pakistan, H.E. Major General (Retired) Nadir Khan raised the national flag during the performance of the national anthem of Pakistan.

Messages from the President of Pakistan Mr. Asif Ali Zardari, Prime Minister Mr. Shahbaz Sharif and Minister for Foreign Affairs of Pakistan Mr. Mohammad Ishaq Dar were also read out.

The ceremony concluded with a prayer for the well-being and prosperity of the people of Pakistan, the Muslim Ummah and humanity, as well as for the return of peace and prosperity to Ukraine.

The Islamic Republic of Pakistan recognized the independence of Ukraine on December 31, 1991. On March 16, 1992, diplomatic relations between Ukraine and Pakistan were established. The Embassy of Pakistan has been operating in Kyiv since October 1997.

Photo source: https://www.facebook.com/UkrDiplomatic

Ukrainians will be able to submit claims for destroyed property to register of losses via Diia app – Deputy Prime Minister

Ukrainians will be able to use the Diia app to file claims for damaged or destroyed property with the International Register of Damages to receive reparations from Russia in the future, said Mykhailo Fedorov, Deputy Prime Minister for Innovation, Education, Science and Technology and Minister of Digital Transformation of Ukraine.

“Starting in April, Ukrainians will be able to file a report on damaged or destroyed apartments, houses, and cottages via Diia if they have a survey report from the local authorities. Then it will be possible to submit applications to the Register if they have not contacted the local authorities,” Fedorov said on his Telegram channel on Monday.

The service was launched after signing an agreement with Markiyan Kliuchkovskyi, Executive Director of the International Register of Damage Caused by Russian Aggression against Ukraine.

“Diia is becoming an important part of the transfer and display of the scale of damage caused by Russian aggression,” the head of the Ministry of Digital Transformation emphasized.

According to Fedorov, this is the first case of international data exchange for which Diia will be used. Later, the possibility of filing claims for forced displacement, harm to life, health, torture and sexual violence will be implemented. At the final stage, it will be possible to file a claim for damage to infrastructure, as well as to file claims for compensation for business damage.

“The Ministry of Justice is working on a rather complicated and lengthy process of reparations, and Diia helps to make the process of applying to the register simple, accessible and safe,” he wrote.

The Vice Prime Minister clarified that the Register of Damage Caused by the Russian Aggression against Ukraine was established under the auspices of the Council of Europe in May last year. To date, 43 countries and the EU, including the United States, Japan and Canada, have joined the Register. Its main goal is to record all claims of damage caused by the war so that Russia can pay fair reparations to Ukraine and Ukrainians.

Work is underway with international partners to create a mechanism that converts information from the Register into decisions on compensation payments to Ukraine and those affected by the war, the statement said.

“Ukrgasvydobuvannya” paid UAH 3.9 bln in rent payments in two months

In January-February 2024, JSC Ukrgasvydobuvannya (UGV) paid UAH 3.9 billion in rent payments, the company’s press service reports.

According to the press service, UAH 195.8 million, or 5%, went to the regional and local budgets where the company operates, and the rest to the state budget.

Local budgets of Kharkiv and Poltava regions received the largest amount of deductions over two months – UAH 100.1 million and UAH 78.8 million respectively, Lviv region – UAH 8.5 million, Dnipropetrovs’k region – UAH 3.9 million, and others – UAH 4.4 million.

As reported, UGV paid UAH 23.8 billion in rent payments in 2023, of which UAH 1.19 billion, or 5%, went to the budgets of local and regional levels.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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Draft law on Telegram regulation registered

Draft Law No. 11115 has been submitted to the Verkhovna Rada for consideration, which proposes to regulate the activities of information sharing platforms, including the Telegram messenger.

The corresponding card was published on the parliament’s website.

The document was authored by MPs from the European Solidarity party – Mykola Kniazhytskyi, Rostyslav Pavlenko, Mykhailo Bondar, Ivanna Klympush-Tsintsadze, Iryna Friz, Sofia Fedyna, from the Servant of the People party – Mykyta Poturaiev, Liudmyla Marchenko, from the Voice party – Yaroslav Yurchyshyn and Natalia Pipa, and from the For the Future party – Iryna Konstankevych.

The explanatory note to the draft law states that the regulation proposed by the current law “On Media” remains incomplete, which manifested itself in the inability of the state to effectively respond to a number of problems in the information sphere.

“In the context of a full-scale aggression against Ukraine, these problems pose obvious threats to national security. This draft law is intended to provide government agencies with appropriate tools,” the document states.

The draft law sets requirements for providers of information sharing platforms to disclose their ownership structure and sources of funding upon request. At the same time, the conditions do not allow media entities owned or financed by residents of the aggressor state to operate in Ukraine.

The draft law also proposes to establish a legal presumption that the inability to carry out an inspection due to the lack of communication with the provider (both due to the lack of representation and the failure to provide the requested documents and information) is a ground for recognizing the ownership structure of such a provider as non-transparent.

Public authorities, local governments, their officials, and representatives of financial services are not allowed to use information sharing platforms with non-transparent ownership structure of their providers. It is also not allowed to install these platforms and related services on devices used for official purposes, in accordance with the practice of some EU countries and Switzerland.

The draft law has been sent to the relevant committee for consideration.

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Ukrenergomashiny to allocate 80% of net profit for 2023 to dividends

JSC Ukrenergomashiny (Kharkiv), more than 75.22% of which is owned by the state, intends to allocate 80% of its net profit of UAH 203 thousand to pay dividends to shareholders for 2023.

According to the agenda of the remote extraordinary meeting on April 25, taking into account the basic dividend rate of 80% for most companies with a state share approved by the Cabinet of Ministers, Ukrenergomashiny will allocate UAH 162.228 thousand for dividends.

The remaining 20% of the profit is planned to be retained.

As reported, in 2022, Ukrenergomashiny allocated 50% of its net profit, or UAH 160 thousand, to dividends.

At the meeting, the shareholders plan, in particular, to approve the reports of the governing bodies, determine the main areas of activity in 2024, and approve a guarantee of the return of the advance payment under the agreement with AAEK CJSC (Armenia).

JSC Ukrenergomashiny (formerly JSC Turboatom and Electrotyazhmash) is the only Ukrainian manufacturer of turbine equipment for hydro, thermal and nuclear power plants. The company also produces, among other things, electric motors for railway and urban transport (Electrotyazhmash’s nomenclature).

In addition to the state, the shareholders (according to the NSSMC as of the third quarter of 2023) include the Seventh Investment Fund, which is affiliated with entrepreneur Konstantin Grigorishin and managed by AMC Svarog Asset Management, with 15.3416% of shares, and Russian citizen Valery Valandin with 5.598% of shares.

According to Clarity-project, in 2023, Ukrenomashiny JSC reduced its net income by 2.7 times compared to 2022, to UAH 376.3 million.

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