21:05 PM Monday, July 16, 2018
UBJ AM July 4, 2017
M.E, Doc will face charges over cyber attack; Kolomoisky and PrivatBank partner face asset seizure; China to rebuild Zhytomyr airport runway
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

• M.E. Doc, the Kyiv-based tax software company, will face charges for ignoring repeated warnings about the security of their IT systems prior to last week’s global cyber epidemic, the Associated Press reports. The company is accused of being “patient zero” in the cyber offensive that hit Ukraine last Tuesday and then went global.

• Two of Ukraine’s most powerful oligarchs, Igor Kolomoisky and Gennady Bogolyubov, face potential confiscation of billions of dollars of assets after failing to restructure as much as $5 billion in loans at their bank, PrivatBank, according to statements posted by the National Bank of Ukraine and the Ministry of Finance.

• Chinese investment firm CCCC First Highway Engineering Co. has pledged $10 million toward the construction of a new runway at Ukraine’s Zhytomyr airport. The airport, located one hour west of Kyiv’s western suburbs conducted test flights last year, ending a 25 year idle period.

• Ukraine’s office of Export Promotion is organizing a trade mission to Shanghai in cooperation with Kyiv’s Chamber of Commerce. The mission will attend the FHC China food exhibition from November 13-17.

• State-owned Ukreximbank has secured a $150 million, 35-year loan from the World Bank to support Ukraine’s export-oriented small and medium enterprises, Interfax reports.

• Ukraine assumed the bi-annual rotating presidency of the Organization of Black Sea Economic Cooperation last week. Established in 1992, the BSEC calls itself a “multilateral political and economic initiative” aimed at peace, stability and prosperity in the Black Sea region.

• The World Social Progress Index now ranks Ukraine above Russia. Ukraine ranks 64th, beating out Russia which holds 67th place. The index uses the categories of basic human needs, foundations of wellbeing, and opportunity to create the rankings.

• Ukrtransgaz, a subsidiary of Ukrainian state oil and gas company Naftogaz, said Monday that Russian natural gas sent to Europe via Ukraine is expected to rise 9% in 2017. This comes despite Russian gas giant Gazprom’s plans to bypass Ukraine in exports to Europe.

• Ukrainian gas production increased by 3% in the first half of 2017, totaling 10.3 billion cubic meters. Gas consumption grew by 2%, totaling 17.7 billion cubic meters.

• Despite listing several of its stores for sale, German supermarket chain Billa does not plan to leave the Ukrainian market, Interfax reports. The company acknowledges that some stores could close.

For comments or story tips, please email UBJ AM News Reporter Mark Satter at

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