World

Ukraine’s most powerful businessman detained in fraud case

A Ukrainian court ordered tycoon Ihor Kolomoisky to be held in custody for two months on suspicion of fraud and money laundering on Saturday, a striking move against one of the country’s most powerful businessmen.

The detention of Kolomoisky, who is under US sanctions and is a one-time supporter of President Volodymyr Zelenskyy whose election he backed in 2019, comes as Kyiv is trying to signal progress during a wartime crackdown on corruption.

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Defense lawyers said Kolomoisky would appeal the ruling, questioning its legality, but that he would not post bail of almost $14 million in order to secure his release, broadcaster Radio Liberty reported.

After a hearing at a district court in Kyiv late on Saturday, Kolomoisky, one of Ukraine’s richest men, was shown being led away in a blue tracksuit jacket in television footage. He could not be reached for comment.

The Security Service of Ukraine announced the case against Kolomoisky on Saturday morning, publishing photographs on Telegram Messenger showing him being served documents by security officers and signing them.

“It was established that during 2013-2020, Ihor Kolomoisky legalized more than half a billion hryvnias ($14 million) by withdrawing them abroad and using the infrastructure of banks under (his) control,” the agency said in a statement.

After the ruling, Zelenskyy appeared to allude obliquely to the case in his evening address, thanking law enforcement agencies for showing resolve in bringing long-running cases to justice.

“Without a doubt, there will be no more decades-long ‘business as usual’ for those who plundered Ukraine and put themselves above the law and any rules… The law must work,” he said.

Wartime crackdown

Kolomoisky is seen as one of the class of oligarchs who amassed huge industrial wealth after the 1991 collapse of the Soviet Union and wielded outsize political and economic influence.

Before Russia’s February 2022 invasion, Zelenskyy and his team passed legislation requiring oligarchs to register and to stay out of politics. The war has eroded the oligarchs’ power as industrial assets have been destroyed in the east and south, and their television channels have been broadcasting under a centralized signal.

Before winning the presidency, Zelenskyy rose to prominence as a comedian and played the role of president on a show aired on a Kolomoisky-owned TV channel. He denies Kolomoisky has had any influence over the government.

During the war, Zelenskyy has emphasized Ukraine’s crackdown on corruption as Kyiv has applied to join the European Union and hopes to secure tens of billions of dollars to help rebuild the country after a war which has no end in sight.

Kolomoisky’s detention is not the first wartime move involving him.

Last November, the state took control of stakes in major strategic companies, some of which were associated with the businessman, invoking wartime laws to help the war effort.

Earlier this year, security officials searched Kolomoisky’s home in connection with a separate investigation into embezzlement and tax evasion at the country’s two largest oil companies partially owned by him.

Kolomoisky is a former owner of leading Ukrainian bank PrivatBank, which was nationalized in late 2016 as part of a clean-up of the banking system.

He has owned assets in the energy, banking, and other sectors, including an influential television channel.

The United States imposed sanctions on Kolomoisky in 2021 “due to his involvement in significant corruption”. US authorities have also alleged Kolomoisky and a business partner laundered stolen funds through the United States. Kolomoisky has denied any wrongdoing.

($1 = 36.5686 hryvnias)

Ukraine parliament passes law to limit oligarchs’ influence on politics

Russia says destroyed three Ukrainian naval drones targeting Crimea bridge

World

Almarai signs an MoU with the Authority of People with Disabilities to train and employ them.

Almarai Company signed a memorandum of understanding with the Authority of People with
Disabilities to train, qualify and employ persons with disabilities. This came on the sidelines of
the First International Labor Market Conference, organized by the Ministry of Human Resources
and Social Development on December 13 – 14, 2023, at the King Abdulaziz Convention Center
in Riyadh.

The memorandum was signed by the Chief Human Resources Officer of Almarai Company,
Fahad Mohammed Aldrees, and the CEO of the Authority of People with Disabilities, Dr.
Hisham bin Muhammad Al-Haidari.

“This agreement comes within the framework of the company’s social responsibility program, as
Almarai employs more than 500 people with disabilities, which is one of the most suitable work
environments for them.” Fahad Aldrees said. Pointing out that Almarai has the “Silent Line”,
which is one of its production lines that is designated for people with hearing disabilities.

It is worth mentioning that Almarai supports over 300 charity organizations annually across the
kingdom that operate in the field of community development.

World

Central Phuket Shopping Center Prepared Surprises This Christmas & New Year 2024

Central Phuket Shopping Center, the luxury lifestyle landmark o Phuket, invites everyone to celebrate Christmas and New Year 2024 in The Great Celebration 2024 Campaign. Joining hands with global partner ‘The Pokémon Company’, Central Phuket bring over Pokémon, the super cute character popular around the world, for all locals and international fans. The special campaign launch presents a procession of cute ‘Pikachu’ alongside with the giant Christmas tree for the first time in Thailand.
This December, Central Phuket prepared many activities for shoppers when visiting Phuket! Experience the “Surprise of the Day” with free Cotton Candy for our little ones, a sweet and fluffy treat, a special gift from Central Phuket. Bring your kids to enjoy this sweet treat every Saturday and Sunday throughout the month of December. Don’t miss the Christmas Carol that
everyone loves, little Santas spread freshness by singing together in the Christmas Carol activity. Plus, Christmas Live Music, the festival of joy is back! Celebrate Christmas in a luxurious and classy atmosphere, enjoying the music that will bring us joy. Also, there will be Christmas Troop, Santa Claus is coming to town! The Santa troop will spread happiness throughout Central Phuket. Lastly, Cake Workshop, workshop activity with Chef Sebastien’s IRON CHEF Thailand teaching how to make Christmas Vanilla Cake. A special activity for the Christmas season. Moreover, Central Phuket provides special promotion exclusively for international tourists throughout December 23 – January 24 including:

1) Get Free! Tourist welcome discount package valued up to THB 10,000.
2) Receive THB 100 Gift voucher when spending up to THB 2,500 per receipt.
3) Get to buy ‘Happy Holiday Collections’ special price: Pokémon 2-in-1 pillow blanket, tumbler, travel bag set, and keychain. Visit redemption counter for the price.
4) Exclusive for Grab Users get discount code up to 25% off* when traveling to participating Central Shopping Centers.
5) Receive famous Elephant Pants when spending over THB 5,000 in shopping center.
6) Get Free! H&M THB 100 gift voucher when booking any accommodations in Phuket with Agoda. Terms and conditions apply.

Central Phuket is a home of global luxury brands such as Alexander McQueen, Balenciaga, Ermenegildo Zegna, Gucci, Hermès, Louis Vuitton, and Saint Laurent. Exclusive for this season, Louis Vuitton launches a pop-up store located at Central Phuket. The design is inspired by the story of Damier or Checkerboard, the brand’s signature pattern. This classic pattern was created by Louis
Vuitton and his son Georges Vuitton in 1888 and has always been part of the design of Maison’s iconic items and concepts. Find clothes, shoes, bags, and accessories for men at the Pop-up Store from Louis Vuitton at Central Phuket, 1st floor, from today until 31 March 2024. And with over 500 renowned fashion brands and lifestyle shops ranging from local to international
well-known brands covering all categories, international shoppers will be able to find what they are looking for in Central Phuket.
Central Phuket is located in the heart of one of the world’s most famous beach cities, Phuket and await to welcome both locals and international visitors this holiday. Also, don’t miss one of the most joyful New Year Count Down events in Phuket city at Central Phuket Shopping Center on December 31, 2023.

World

Saudi Fund for Development Provides $100 Million Development Loan for the Rogun Hydropower Project

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, through which SFD is contributing $100 million USD to fund the Rogun Hydropower Project, a landmark initiative that will enhance energy,
food, and water security, and foster sustainable development in the country. The signing was attended by the Ambassador of the Kingdom of Saudi Arabia to the Republic of Tajikistan, H.E. Waleed Al-Reshiadan, and the Ambassador of Tajikistan to Saudi Arabia, H.E. Akram Karimi, alongside other officials from both sides. SFD’s development loan will help contribute towards a more sustainable and equitable food and water future for Tajikistan, while driving the country’s energy transition and climate resilience. The project aims to contribute to the national energy security and will help advance sustainable
development in the Republic of Tajikistan, by providing the renewable electricity supply to meet local demand and expand electricity production domestically and regionally, producing 3600 MW of energy. The loan agreement will also finance the construction of a 335-meter-tall dam, which will enhance irrigation capabilities and bolster agricultural activities across the country. Additionally, the project will improve flood protection through the construction of four hydraulic
tunnels for diversion and drainage. It will also provide clean and drinkable water to people through desalination, and help advance socio-economic development, by creating both direct and indirect jobs.
Importantly, this project also supports the realization of the UN Sustainable Development Goals (SDGs); specifically, SDG 2, Zero Hunger, SDG 6, Clean Water and Sanitation, and SDG 7, Affordable and Clean Energy.
On this occasion, the CEO of SFD, H.E. Sultan Al-Marshad, said: “Today’s signing marks a major milestone in our shared journey towards a more sustainable future. With this landmark development loan, SFD is not just supporting Tajikistan’s energy future, but also its sustainable development and the well-being of its people. The Rogun Hydropower Project is a beacon of
hope for a bright future that is powered by clean, renewable energy. It will propel Tajikistan towards environmental stewardship and prosperity.”