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Investigations Into Price Hikes and Other Responses by the Ukrainian Competition Authority to the COVID-19 Crisis

The Ukrainian Competition Authority investigates price hikes for face masks, health protection products and long-life foodstuffs amidst COVID-19 outbreak. Airline tickets, telecoms and misleading claims about fake coronavirus treatments are also in focus.

Even as the solutions adopted by the Polish Parliament in an attempt to mitigate the negative consequences of Covid-19 do not introduce many significant changes as far as the financing sector is concerned, some of the amendments concerning business financing are certainly noteworthy.

The Government of the Republic of Serbia has adopted new Regulation on extending the deadlines for holding a company’s regular General Meeting session and submission of the annual and consolidated financial statements of the companies, cooperatives, other legal entities, and entrepreneurs, as well as deadlines for filing the corporate income tax return and tax return for the income of entrepreneurs, revalidation of certified auditors’ licenses and licenses for real estate valuation that expire during the state of emergency due to COVID-19 Pandemic caused by SARS-CoV-2 virus (hereinafter: “the Regulation”).

It's hard to believe, but some cybercriminals are trying to take advantage of the coronavirus crisis. They seek to exploit IT weaknesses and use our fears and insecurities to obtain passwords, infiltrate company networks or launch cyberattacks. We have therefore put together a short overview of measures to decrease cybercrime risks in the current extraordinary situation.

Even though the law on the obligatory dematerialization of shares in unlisted joint-stock companies and joint-stock limited partnerships enters into force on 1 January 2021, some of its provisions have been in force since 1 January 2020, requiring, for instance, that such companies and partnerships maintain websites with space dedicated to communicating with their shareholders.

As part of a package of economic measures worth EUR 5.1 billion, the Serbian Government adopted a decree on 16 April 2020 establishing a guarantee scheme for loans to be provided by local banks to businesses to reduce the effects of the COVID-19 pandemic (the “COVID-19 Guarantee Scheme”).

With regard to the state of emergency the Hungarian Government has passed several employment related laws. According to Government Decree no. 47/2020, the provisions of the Labour Code shall be applied with several modifications during the term of state of emergency caused by the coronavirus pandemic. The purpose of the modifications is to make the employment regulations more flexible and to enable the employers and employees to adapt to the challenges caused by the pandemic.

On 25 March 2020, the Government of Slovenia announced a EUR 2bln rescue package intended to mitigate the adverse and diverse effects of the COVID-19 pandemic. The package primarily seeks to maintain jobs by providing pay check support and tax relief to employers and introducing additional mechanisms to reduce the liquidity shock on businesses.

Governments across CEE, including Slovakia, have introduced or are discussing various measures to mitigate potential adverse consequences of the coronavirus situation. This short overview summarizes measures taken in Slovakia with respect to corporate housekeeping matters. The measures are envisaged to be temporary valid until about a month after the end of the crisis.

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