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McDonald’s To Leave Russia Permanently After 32 Years

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McDonald’s has announced that it will leave Russia permanently after 30 years.

McDonald’s announced in March that it would temporarily close its roughly 850 restaurants in the country as part of the economic fallout from Russia’s invasion of Ukraine.

The Chicago-based company owns 84% of its stores in Russia and has stated that its restaurants in Russia and Ukraine contributed 9% of its annual revenue, or around $2 billion (£1.6 billion).

The company expects to incur a non-cash charge of between $1.2 billion (£980 million) and $1.4 billion as part of the exit.

“The humanitarian crisis caused by the war in Ukraine, as well as the precipitating unpredictable operating environment,” McDonald’s said in a statement.

According to the company, it has begun selling its restaurants there due to the “humanitarian crisis” and “unpredictable operating environment” caused by the Ukraine war.

McDonald’s intends to sell its business to a local buyer, which employs 62,000 people and operates 850 restaurants (including those run by franchisees).

The restaurants will be “de-arched,” which means they will no longer use the McDonald’s name, logo, or branding. In a statement, McDonald’s stated that its “priorities include seeking to ensure that McDonald’s employees in Russia continue to be paid until the close of any transaction and that employees have future employment with any potential buyer.” In Russia, it will keep its trademarks.

According to the company, doing business in Russia is “no longer tenable” or consistent with its values.

“This is a complicated issue with no precedent and profound consequences,” McDonald’s CEO Chris Kempczinski wrote in a message to franchisees, employees, and suppliers obtained by The New York Times.

“Some might argue that providing access to food and continuing to employ tens of thousands of ordinary citizens is unquestionably the right thing to do,” he continued. However, it is impossible to ignore the humanitarian crisis caused by Ukraine’s war. And it’s difficult to imagine the Golden Arches symbolizing the same hope and promise that drove us to enter the Russian market 32 years ago.”

Kubidyza is a Global Celebrity Blogger, Music Promoter and a Social Media Influencer | Most Influential Blogger In Ghana For Bookings: Kubinho80@gmail.com

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Sam George Takes On US Embassy Over Claim To Protect LGBT Right In Ghana

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The US Embassy has claimed to protect the rights of lesbians, gays, bisexuals, transgender people, etc. living in Ghana.

According to the US Embassy, they will protect and end the stigmatization people of the LGBT community in Ghana suffer daily.

In a tweet, the US Embassy urged the LGBT community in Ghana to be sure of their resolve and commitment to promote and protect their rights and freedoms in Ghana.

“The U.S. is committed to ending violence, discrimination, and stigma against LGBTQI+ persons and promoting human rights and fundamental freedoms for all.“

In a sharp response, the Ningo-Prampram MP has asked the US Embassy to focus on important issues.

According to his counter-argument, Ghana would also be concerned about ending gun violence as it pertains in the US.

Sarcastically, Sam George maintained his stance against LGBT and asked the US embassy to focus on solving the recurring gun violence in their home country other than focusing on protecting LGBT rights in Ghana.

Ghana is also committed to ending senseless gun violence anywhere and everywhere in the world. We are committed to seeing school kids go to school without their parents scared of receiving calls of a school shooting involving military-grade weapons.

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Revealed: Nat’l Cathedral’s Design 12 Times More Expensive Than Burj Khalifa’s

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It has been revealed that the design of Ghana’s National Cathedral will cost 12 times the design of the tallest building in the world, the Burj Khalifa.

After the government announced $22 million as the new cost for the design of the National Cathedral, it has been revealed that it is more expensive than what Dubai paid for the design of the Burj Khalifa.

The Burj Khalifa is the tallest skyscraper in the world and when it was been designed in 2003, it cost the Emirati government $1.8 million.

In 2022, Ghana is paying $22 million for the design of the National Cathedral which will cost $22 million.

The revelation was done by StatsGH:

The design of Ghana’s cathedral is 12 times more expensive than the design of the Burj Khalifa. We paid $22 million for ours. The Arab money holders bargained $1.8 million for theirs.

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“E-Levy Is Failing, We’ve Raised Only 10% Of Estimated Revenue” : Gov’t

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The government of Ghana has cried over the failure of the Electronic Service Tax (E-LEVY) to meet the required revenue target after its rollout on May 1, 2022.

According to the de facto Prime Minister, Gabby Otchere Darko, the country has failed to meet its revenue target even after the E-levy has been rolled out.

In a tweet, Gabby Otchere Darko intimated that only a paltry 10% of estimated revenue has been generated so far.

He also criticized Ghanaians for being so hard on the government for introducing the E-levy considering the fact that it has not yielded much.

Gabby Octhere Darko bemoaned Ghana’s ballooning debt stock, inflation and high cost of living.

After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels are dangerously high, cedi, like most currencies, struggling against the US dollar.

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