Section: Economy

      Top management, shareholders of 2 bankrupt banks steal UAH 4 bln from accounts – Prosecutor General`s Office of Ukraine
      May03

      Top management, shareholders of 2 bankrupt banks steal UAH 4 bln from accounts – Prosecutor General`s Office of Ukraine

      Criminal investigation is under way by the Prosecutor General`s Office of Ukraine into the embezzlement by officials and shareholders of PJSC CB Pivdencombank and PJSC Terra Bank of funds totaling more than UAH 4 billion, which brought both financial institutions to insolvency, as reported by the PGO`s press office. ”The Office for Investigation...

      China to produce train capable of 400 km/h by 2020
      May03

      China to produce train capable of 400 km/h by 2020

      China Railway Rolling Stock Corporation (CRRC) is working on next-generation bullet trains with a maximum operational speed of 400 kilometers per hour that will be ready by 2020, China Daily reports. ”We will apply new materials in the research and production of the future high-speed trains, such as carbon fiber and aluminum alloy, which will...

      Ukraine`s underground gas stocks reach 8.5 bcm
      May03

      Ukraine`s underground gas stocks reach 8.5 bcm

      Stocks of natural gas at Ukraine`s underground storage facilities grew by 2%, or 180 million cubic meters (mcm), from 8.298 billion cubic meters (bcm) of gas from April 26 till May 3, to 8.478 bcm of gas, according to Ukrtransgaz, operator of Ukraine`s gas transport system. The amount of gas pumped daily into the USFs, as of May 3 was at 41.9...

      World Bank allots $150 mln loan for Ukraine
      May03

      World Bank allots $150 mln loan for Ukraine

      The World Bank`s Board of Executive Directors on May 2 approved a US$ 150 million loan for the Access to Long Term Finance Project that will support Ukraine`s export-oriented small and medium enterprises (SMEs), according to the World Bank`s press service. ”Ukraine has creative and unique business potential and can produce high-quality...

      Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs
      May03

      Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs

      Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record supplies capped gains, according to Reuters. The benchmark for global oil market, Brent futures LCOc1 gained 56 cents, or 1.1 percent to $51.02 a barrel by 01:56 GMT....

      Deficit of Ukraine`s budget shrinks by almost 8% in Q1 2017
      May02

      Deficit of Ukraine`s budget shrinks by almost 8% in Q1 2017

      The deficit of Ukraine`s national budget in January-March 2017 was estimated at UAH 9.741 billion, or US$366.75 million, which was 7.8% lower than the deficit recorded over the same period in 2016 at UAH 10.567 billion, or $397.85 million, according to Ukraine`s Treasury Service. Revenues of the state budget over the period under review amounted...

      Сoal from Georgian company Saqnakhshiri GIG Group can be of Donbas origin
      May01

      Сoal from Georgian company Saqnakhshiri GIG Group can be of Donbas origin

      Georgian company Saqnakhshiri GIG Group has won the tender set up by power generating company PJSC Centrenergo for the purchase of 700,000 coal of anthracite grade for Zmiivska and Tripilska TPPs. ”Despite the fact that the tender was held via ProZorro [e-procurement system], it was not transparent,” editor in chief of the BusinessCensor outlet...

      Reasons IMF keeps funding Ukraine – Anders Aslund
      May01

      Reasons IMF keeps funding Ukraine – Anders Aslund

      Kyiv has been fulfilling the most important, though not all, obligations before the International Monetary Fund, Anders Aslund wrote in a column titled ”Why Does the IMF Keep Funding Ukraine?” published by Atlantic Council. When the International Monetary Fund`s board convened on April 3, it found that the Ukrainian government had fulfilled only...

      Naftogaz has no info on date of Stockholm Arbitration`s decision in dispute with Gazprom
      May01

      Naftogaz has no info on date of Stockholm Arbitration`s decision in dispute with Gazprom

      The date remains unknown when the Arbitration Institute of the Stockholm Chamber of Commerce will issue a ruling in a dispute between the National Oil and Gas Holding Company Naftogaz of Ukraine and The Russian gas monopoly Gazprom regarding the terms of the contract for the purchase and sale of natural gas, the Naftogaz press service has told an...

      Fitch affirms Ukraine at `B-`; outlook stable
      May01

      Fitch affirms Ukraine at `B-`; outlook stable

      Fitch Ratings has affirmed Ukraine`s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at `B-` with a Stable Outlook. ”Ukraine`s ratings balance weak external liquidity, a high public debt burden and structural weaknesses, in terms of a weak banking sector, institutional constraints and geopolitical and political risks, against...