South African businessman Errol Musk, father of billionaire Elon Musk, made an exploratory visit to Bosnia and Herzegovina and Serbia, assessing the region’s potential for establishing an Institute for Gravitational and Space-Time Research, which would focus on gravity, space-time, terraforming, and longevity, Reuters reports.
Musk had previously considered Dubai as a potential location but abandoned the idea after friends from the Balkans persuaded him to personally evaluate the potential of Serbia and Bosnia.
He stated that he was pleasantly surprised by the level of infrastructure, business environment, and accessibility, noting: “the economy, the behavior of people… it’s idyllic.”
Representatives of the Chamber of Commerce of the Federation of Bosnia and Herzegovina presented him with an educated workforce and economic potential and offered facilities for the future institute.
Errol Musk visited Serbia and Austria as part of a preliminary regional assessment and expressed confidence that the Balkans represent a more economical and efficient solution than Dubai.
Musk envisions the institute as a privately-run platform, independent of governments, attracting professionals “not under ideological pressure” and interested in radical scientific research. The proposed research areas include gravity, space-time, nuclear fusion, and longevity — topics that go beyond conventional academic science.
Although no final decision has been made, Bosnia and Serbia are being considered by Errol Musk as more cost-effective locations with better human resources than the alternatives.
Since the beginning of 2025, Ukraine’s judicial system has shown some progress in the introduction of new technologies, but there are delays in the consideration of cases and the enforcement of court decisions, according to Vitaliy Chayun, a lawyer at the Barristers law firm.
“The war has affected all aspects of the functioning of the courts, from the physical safety of judges to citizens’ access to justice. Despite this, the courts continue to operate, adapting to the conditions of martial law and the requirements of European integration reforms. In the first half of 2025, the judicial system showed some progress in the implementation of new technologies and reforms, but faced a number of problems, such as delays in the consideration of cases and difficulties in the enforcement of court decisions,” he told the Interfax-Ukraine news agency.
Chayun recalled that in 2024, 5.3 million cases were submitted to courts of all instances and jurisdictions, of which 4.4 million were considered by the courts.
“Approximately one million cases remain unresolved. This indicates a significant burden on the judicial system, especially given the conditions of martial law and staff shortages. It can be assumed that the number of cases in 2025 will remain high, given the growth in 2024 and the continuation of martial law,” he said.
Chayun noted that in the first half of 2025, Ukraine’s judicial system “continues to adapt to the conditions of war and reform in preparation for EU accession,” and among the main trends in the work of the judicial system is the introduction of remote court hearings, which allow hearings to be held without the physical presence of participants.
“This is especially important in wartime, when many citizens are internally displaced persons or live in combat zones. Given these challenges, the development of remote court proceedings is becoming a priority task, the implementation of which will ensure the effectiveness of court proceedings and procedural economy,” he said.
In addition, Chayun drew attention to the problem of filling judicial vacancies: in 2025, it is planned to appoint 1,800 judges to local courts, 550 to appellate courts, and 25 to the High Anti-Corruption Court. However, due to the length of the appointment procedures, “the judiciary has been ‘bled dry’ for many years.”
Chae also noted the processes of modernizing court IT systems and creating new specialized courts.
Commenting on the length of proceedings in Ukrainian courts, the lawyer pointed out that they “remain one of the key problems.” “Cases can be delayed for years due to a lack of funding for basic needs such as stamps, envelopes, and stationery necessary to send correspondence to parties to the proceedings,” he said.
According to Chayun, the delays affect “all types of cases, including economic cases, which are often complex due to the large number of documents and parties involved.” He recalled that between January and April 2025, 59,400 cases were pending in courts of various instances against the State Tax Service for a total amount of UAH 413.8 billion. At the same time, 6,900 cases worth UAH 78.7 billion were considered, of which 2,300 cases (including non-property disputes) worth UAH 44.4 billion were in favor of the State Tax Service, and 4,600 cases worth UAH 34.3 billion were in favor of taxpayers.
“Although there is no accurate data on the timing of economic cases in the first half of 2025, delays persist due to court overload and limited funding. It is expected that filling judicial vacancies and modernizing IT systems in the future will help speed up the consideration of cases, but in the first half of 2025, no significant improvements were achieved, and the shortage of personnel in the judicial system only exacerbates negative trends,” the lawyer emphasized.
He also drew attention to a number of problems with the enforcement of court decisions. “The enforcement of court decisions remains one of the most acute problems of the judicial system, as more than half of court decisions remain unenforced. In 2025, a new law on the digitization of enforcement proceedings and the implementation of a strategy to improve the work of the enforcement service are planned to be adopted. This demonstrates the state’s recognition of the existing problems in this area. However, during 2025, problems with the enforcement of court decisions are likely to persist due to the insufficient effectiveness of the enforcement service and a lack of resources,” the lawyer said.
“The Ukrainian judicial system showed gradual progress in implementing reforms in the first half of 2025, but delays in the consideration of cases, limited access to justice due to financial and technical problems, and difficulties in enforcing court decisions remain significant challenges. Lawyers are forced to adapt to these conditions, which requires additional efforts to protect their clients’ rights. Further reforms and support from the state and international partners are critical to ensuring effective and fair justice in Ukraine,” he concluded.
The Velta Group, which has assets for the extraction of titanium-bearing ores in Novomyrhorod (Kirovohrad region), has received its third patent from the US Patent and Trademark Office (USPTO) for its innovative Velta Ti Process technology.
According to a press release on Monday, the new patent confirms the possibility of obtaining high-quality titanium dioxide (TiO₂), a key material for the further production of titanium powder using the Velta Ti Process technology, as well as commercial products based on titanium, iron, calcium, and nitrogen.
It should be noted that Velta Holding US Inc. has obtained three Ukrainian and three US patents since 2020.
Velta Holding US Inc. is a group of companies engaged in the full cycle of titanium production, from the extraction of titanium raw materials through innovation to the manufacture of final metal products.
Velta LLC is a Ukrainian company that is part of the group and is a manufacturer of titanium raw materials and the only private Ukrainian company that has built a titanium mining complex from scratch in the Kirovohrad region. With over 15 years of experience in the mining sector, the company holds 2% of the global titanium market and has partners and customers in Europe and the US.
Velta Holding also includes the Velta RD Titan research and development center and Velta Medical, a manufacturer of custom titanium implants.
Velta Holding LLC is wholly owned by VKF Velta LLC. The ultimate beneficiaries are three individuals: Andriy Brodsky (60%), Vadym Moskalenko (20%), and Vitaliy Malakhov (20%).
PATENT, PROCESSING, TECHNOLOGY, TITANIUM, US, USA, VELTA
The work on the transfer of Israeli technologies related to smart alerts for missiles and drones to Ukraine is in progress, said the Ambassador of Ukraine to Israel Yevgeniy Korniychuk.
“Regarding the official things that we can comment – there is work on the transfer of Israeli technology related to smart alerts concerning missiles and drones. This technology is officially being transferred by the Israeli side. And I think that in a certain time we will receive it completely,” he said at a briefing at the Media Center Ukraine.
The Ambassador added that Ukraine still needs more active military-technical cooperation. However, according to him, there are many projects that cannot be commented on publicly yet.
“In order to have specifics on Iranian drones, I think it will take a few weeks. Since the government has just started work, it needs to make a decision taking into account the position of the U.S. as a major strategic partner, and the interests of the public,” the ambassador said.
He explained that the gap between the right-wing bloc that came to power and the left-wing forces is very small – 40 thousand voters, and the agenda is very much related to domestic politics, as well as the Palestinian question.
“So the issue of Ukraine is not a priority. Although we are trying with all our might to make it so,” Korniychuk added.
At the same time, the Israeli Foreign Ministry said that the issue of the war in Ukraine is a priority, said the Ukrainian diplomat.
“The minister said that he would facilitate more aid to Ukraine, without specifying it,” the ambassador said.
A large manufacturer of capping and packaging materials JSC Tekhnologiya (Sumy) in January-September received a net profit of UAH 214.18 million, which is 33.5% less than in the same period of 2021.
According to the company’s non-consolidated financial statements, published on Friday in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its net income fell by 5% to UAH 1 billion 457 million.
At the same time, the gross profit of Technologiya JSC increased by 22.6% – up to UAH 443.4 million, and UAH 297 million of profit was received from operating activities – 41% more.
According to reports, the company’s expenses under the item “other operating expenses” increased 3.6 times – up to UAH 136.79 million.
According to the company’s statements, in the first half of this year, it reduced its net profit by 6.7 times compared to the same period in 2021, to UAH 16.68 million, while net income decreased by 12.5%, to UAH 824 million.
Thus, in the third quarter of this year, Tekhnologiya’s net profit decreased by 6.5% to UAH 197.5 million, while net income increased by 7% to UAH 632.5 million.
Founded in 1990, Tekhnologiya produces capping and packaging materials, including decorative casings and caps for champagne decoration, label products, packaging for pharmaceuticals, combined material, and polyethylene film. The export geography included more than 60 countries.
The beneficiaries of the company are Vladimir Zayets (70%) and Pole Krzysztof Gzhondzel (30%).
Technologia Group’s global offices are located in the UK (TEO UK Packaging Limited), Poland (MUZEL LTD), Italy (TEO ITALY SRL).
On July 4, an international conference for the restoration of Ukraine started in Lugano, Switzerland. Among the main decisions taken on the first day of the conference, one can single out the approval of a plan to provide Ukraine with macro-financial assistance in the amount of $750 billion. Of this total, from 150 to 250 billion is expected to be directed to the restoration of infrastructure and housing damaged as a result of hostilities.
At the same time, the mechanisms for the practical implementation of this project remain unclear in the context of the ongoing war and the need to adapt legislation to it and establish partnerships between the state and private companies. Portal Open4business turned to Igor Stakovychenko, an expert in the field of construction and real estate, for a comment.
In his opinion, the practical implementation of the project should be started now at all levels, since delaying the process can lead to negative consequences in the autumn-winter period.
“Mechanisms for allocating funds from the confiscated assets of the Russian Federation and its large businesses are already being implemented by individual countries. We, in turn, need to implement the conversion of these financial assets into specific infrastructure and construction projects by creating representative offices in donor countries and coordination centers in Ukraine,” said Ihor Stakovychenko.
The expert also stressed that the regional principle of recovery, now promoted by the country’s leadership, when a separate partner state is engaged in projects in a separate Ukrainian region, is the most effective at this stage.
In addition, Igor Stakovychenko suggested creating a system of decentralized funding for the implementation of individual projects at the local level.
“But we must not forget about our responsibility to our partners. It is necessary not only to minimize, but to completely exclude the possibility of misuse of foreign aid by local officials. To do this, it is necessary to create a separate trust fund for each individual restoration project, the activities of which will be as transparent and controlled as possible by both the Ukrainian anti-corruption authorities and the donor country,” Ihor Stakovychenko emphasized.
According to the expert, the basis for the creation of such funds should be existing budget programs, as well as amendments to the main financial document.
“In fact, now we can receive funds both in the form of direct assistance and in the form of investments from partners. Here it is important to successfully implement and present the first major restoration projects, which will help increase investment attractiveness even in the current conditions,” added Igor Stakovychenko.
CONSTRUCTION, EXPERT, FINANCE, MARKETS, REAL ESTATE, RESTORATION_OF_UKRAINE, TECHNOLOGY, ІГОР_СТАКОВИЧЕНКО, СТАКОВИЧЕНКО
