Section: Economy

      Oil prices surge, smash trading volume records as OPEC and Russia agree output cut
      Dec01

      Oil prices surge, smash trading volume records as OPEC and Russia agree output cut

      Oil prices shot up 13%, smashing trading volume records, after OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned they could remain modest by historical comparison as other producers fill the gap, according to Reuters. The Organization of the Petroleum Exporting Countries (OPEC) agreed on Wednesday its...

      European Court annuls part of sanctions against Putin`s friend Rotenberg. Document
      Dec01

      European Court annuls part of sanctions against Putin`s friend Rotenberg. Document

      The General Court of the European Union on November 30 declared unfounded EU sanctions against Russian businessman and President Putin`s friend Arkady Rotenberg, which were in force from July 2014 to March 2015. General Court of the European Union from Hanna Minenko ”By today`s judgement, the General Court partly upholds the action for annulment...

      Cabinet approves EIB project worth EUR 400 mln to support small and medium-sized businesses
      Dec01

      Cabinet approves EIB project worth EUR 400 mln to support small and medium-sized businesses

      The Cabinet of Ministers of Ukraine has approved the implementation of the joint project with the European Investment Bank (EIB) to support small and medium-sized businesses and companies with average capitalization levels, the loan for the implementation of which amounts to EUR 400 million. According to the website of the Ministry of Finance, it...

      Naftogaz gets state guarantees for $500 mln loan for gas purchase
      Dec01

      Naftogaz gets state guarantees for $500 mln loan for gas purchase

      The Cabinet of Ministers of Ukraine has approved the granting of state guarantees in the amount of about $500 million to Ukraine`s oil and gas giant NJSC Naftogaz of Ukraine in order to attract a World Bank loan for the purchase and pumping of natural gas in the autumn-winter period. Presenting the need for the provision of guarantees, First Vice...

      Real wages decrease in Ukraine
      Nov30

      Real wages decrease in Ukraine

      Real wages of Ukrainians dropped 3% in October to the previous month, according to the State Statistics Service. Compared with October 2015, real wages increased by 6.2% though. The average monthly nominal wage of full-time employees decreased by 0.2% in October compared with September, amounting to UAH 5,350. This is 3.7 times higher than the...

      France says lifting sanctions on Russia would be counterproductive
      Nov30

      France says lifting sanctions on Russia would be counterproductive

      French Foreign Minister Jean-Marc Ayrault said on Tuesday that lifting European Union sanctions on Russia would weaken efforts to resolve the Ukraine crisis and hand a victory to Moscow, Reuters reported. ”It would weaken the objective of resolving this conflict and would be a victory to those who endangered the security of a country,” Ayrault...

      Hryvnia strengthens to UAH 25.60 to dollar on interbank market
      Nov29

      Hryvnia strengthens to UAH 25.60 to dollar on interbank market

      Hryvnia quotations against the dollar on the interbank currency market on Tuesday strengthened to UAH 25.57/25.60 to the dollar by the middle of trade, a broker at a commercial bank has told an UNIAN correspondent. Hryvnia quotes against the euro have settled at UAH 27.29/27.35, while those against the Russian ruble have settled at UAH...

      Canada adds Crimean officials to sanctions list
      Nov29

      Canada adds Crimean officials to sanctions list

      In order to maintain the necessary pressure on Russia until it fully complies with its international obligations with respect to Ukraine, the Special Economic Measures (Ukraine) Regulations have been amended to list 15 additional separatist individuals, including six members of Russia`s State Duma from Crimea, who are subject to an asset freeze...

      Ukraine`s budget saves $3 mln due to UNDP drug procurement in first two weeks
      Nov29

      Ukraine`s budget saves $3 mln due to UNDP drug procurement in first two weeks

      Ukraine has already saved US$3 million in budget funds due to medicine procurements through the United Nations Development Programme (UNDP) in the first two weeks. ”Few weeks in UNDP`s renewed medicine procurement cycle for 2016, amounts contracted so far already show savings of US$3 million compared to prices from 2015, which are immediately...

      Ukraine`s international reserves shrink first time in 7 months
      Nov29

      Ukraine`s international reserves shrink first time in 7 months

      Foreign reserves of Ukraine decreased by 1.9%, to $ 15.2 billion in November, according to the National Bank of Ukraine. The current level of international reserves of Ukraine amounted to $15.2 billion, the NBU has told UNIAN. Thus, compared with the beginning of November, the reserves fell by $0.3 billion, or 1.9%. As UNIAN reported earlier,...