Section: Economy

      Reuters: Oil edges up as Saudis cut supplies to U.S., but global glut remains
      Mar24

      Reuters: Oil edges up as Saudis cut supplies to U.S., but global glut remains

      Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel, according to Reuters. Prices for front-month Brent crude futures LCOc1, the international benchmark for oil, were at $50.63 per barrel at 0343 GMT, up 7 cents from...

      National Bank of Ukraine simplifies rules for cash currency cross-border movement
      Mar23

      National Bank of Ukraine simplifies rules for cash currency cross-border movement

      The National Bank of Ukraine has simplified the procedure for the movement of foreign currency over EUR 10,000 across Ukraine`s customs border, according to NBU decree No.24, going into effect March 23. Citizens declaring the amount over EUR 10,000 may now provide a wider range of money origin confirmation papers. Besides the receipts on money...

      Ukraine sees record high farm produce exports in January
      Mar23

      Ukraine sees record high farm produce exports in January

      Ukrainian farmers in January 2017 shipped agricultural products to foreign markets to the tune of US$ 1.3 billion, which was 53.7% up year-over-year (y-o-y), and it is record high results in the past four years, according to the Ukrainian Agrarian Policy and Food Ministry`s press service. Exports of farm produce accounted for a record share of...

      National Bank of Ukraine enforces sanctions against Russian banks` subsidiaries
      Mar23

      National Bank of Ukraine enforces sanctions against Russian banks` subsidiaries

      According to the decision of the National Security and Defense Council, the National Bank of Ukraine on March 23 imposes sanctions on subsidiaries of Russian state-owned banks, according to the NBU press service. ”The Board of the National Bank of Ukraine on March 21 approved Decree No. 25, aimed at ensuring the implementation of sanctions...

      National Bank of Ukraine comments on Russia`s restrictions on money transfers to Ukraine
      Mar22

      National Bank of Ukraine comments on Russia`s restrictions on money transfers to Ukraine

      The decision by the Russian Federation to ban money transfers to Ukraine through the international payment systems without opening an account will not affect Ukraine`s banking system, First Deputy Head of the National Bank of Ukraine Yakov Smoliy told UNIAN. ”I do not think it will have an impact on the banking system because the amount is not...

      Stockholm gas dispute: Naftogaz does not rule out bankruptcy in case of loss to Gazprom
      Mar22

      Stockholm gas dispute: Naftogaz does not rule out bankruptcy in case of loss to Gazprom

      Commercial Director of NJSC Naftogaz of Ukraine Yuriy Vitrenko does not rule out bankruptcy in case it loses its dispute with the Russian energy giant Gazprom in the Stockholm Arbitration Chamber, Novoye Vremia magazine reports. ”The state is not liable for the obligations of Naftogaz. Naftogaz will just go bankrupt. Our assets will be auctioned...

      Ukraine`s largest steelmaker ArcelorMittal Kryviy Rih almost doubles profits in 2016
      Mar22

      Ukraine`s largest steelmaker ArcelorMittal Kryviy Rih almost doubles profits in 2016

      Ukraine`s largest steelmaker ArcelorMittal Kryviy Rih posted a net profit of UAH 2.7 billion for 2016, which was nearly twice the net profit of UAH 1.38 billion (US$51.348 million) reported in 2015, the company press center told UNIAN. Net income from the sales of the plant`s products amounted to UAH 52.96 billion, while capital investments stood...

      Ukraine`s Naftogaz cuts gas prices for industry by 10.3% from April 1
      Mar22

      Ukraine`s Naftogaz cuts gas prices for industry by 10.3% from April 1

      Oil & gas giant NJSC Naftogaz of Ukraine from April 1, 2017, will cut the minimum price of natural gas sold to industrial consumers by 10.3%, to UAH 7,675.2 per 1,000 cubic meters from UAH 8,553.6 per 1,000 cubic meters in March 2017, the company said in a statement. At the same time, the maximum prices of natural gas for industrial...

      Russia`s Sberbank looking at quick exit from Ukraine
      Mar22

      Russia`s Sberbank looking at quick exit from Ukraine

      Russia`s biggest bank Sberbank is looking ”very actively” at options for a quick exit from Ukraine, the bank`s Chief Executive German Gref said on Tuesday, March 21, Reuters reported. Gref also told reporters that Sberbank`s loan-loss provisions in Ukraine made up around 70 percent of its potential losses, according to Reuters. Ukraine recently...

      Oil prices fall on bloated U.S. crude storage
      Mar22

      Oil prices fall on bloated U.S. crude storage

      Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output, according to Reuters. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.79 per barrel at 0451 GMT, down 17 cents, or 0.3 percent, from...