by Vitalii Usenko
The Dnipropetrovsk Oblast State Administration has begun to restore the glory of Pivdenmash as a major space and missile-building industry, the domestic leader and once a major player in the world, PIC News reported on May 8, 2014.
Ihor Kolomoisky, the current Governor of Dnipropetrovsk Oblast, and Serhiy Voight, acting CEO of Pivdenmash, the southern machine-building company, have signed a memorandum of cooperation to this effect. Continue reading
The International Monetary Fund warned in a report released today that it will be forced to revisit the newly approved aid program to Ukraine, which is worth $17 billion, if Kyiv loses control over the Eastern regions of the country.
Reported by Radio Svoboda. Continue reading
OPED By Walter Derzko, Toronto
Putin is in a panic over NATO encroachment and encirclement of the Russian Federation. He also knows that the Russian Federation is quickly losing its geopolitical and energy influence. Putin admitted that Russia invaded /annexed Crimea out of shear necessity and outright survival. If it didn’t then NATO would eventually accept Ukraine, stationing troops in Sevastopil. In his annual TV phone in show last week, Putin conceded that Russia is no match for NATO. Continue reading
When President Vladimir Putin solemnly addressed the Parliament in May, he didn’t speak only about Crimea, but also praised the Russian economy, which allegedly is so strong that even sanctions from the West cannot do it serious harm. The important event required a lot of important words, but an objective observer could not miss the fact that the Russian economy could be anything but not strong, stable and self-sufficient. Economic sanctions from the west certainly cannot destroy it, but they could have a grave impact on the relative prosperity of the Russian middle class, and perhaps even reduce the absolute prosperity of the richest Russians, who in recent years have bought apartments in London, Monaco, and Spain, and whose children have been studying at private schools in England or Switzerland. Continue reading
by Sergio Zalyubovskiy
I repeat my post about the financial situation in Ukraine. FYI, so to say.
I would not be celebrating, if I were Russia, i.e. the country having the external debt of 650 billion, which continues to grow this year rather disastrously, I estimate it can easily reach 800-850 billion. Instead I would be preparing canned food and packing my suitcase. The situation there won’t get better, that’s for sure.
Regarding Ukraine. The dollar usually climbs for two reasons: 1. Inflation. 2. The absence of effective mechanisms of financial regulation. If the national bank had enough currency, it could regulate the dollar exchange rate by releasing its reserves. Currently, this option is not possible. The next year or two is going to be difficult, the tax burden would be increased because of the external borrowings; subsidies would be reduced or canceled. In the absence of financial resources, it is problematic to live on borrowed funds, but sometimes it is inevitable. Continue reading
April 4, 2014 19:50
The reforms will be painful for Ukrainians in 2014, but they will give an impetus to economical growth starting from 2015
The World Bank presented its regular macro-economical projections for Ukraine. LigaBusinessInform names the core points expressed during a presentation by Chimao Fun, the head of the World Bank Office in Ukraine, Belarus, and Moldova, Lolita Murti, the leading economist of the bank in the region, and the economist Anastasiya Golovach. Continue reading
National Bank of Ukraine
Wednesday, April 9, 2014, 10:04
New National Bank of Ukraine Chairman Stepan Kubiv lent UAH 21.5bn to banks to hold liquidity at a stable level and cover the deposits outflow since assuming his post six weeks ago. Lesya Voytytska at Hubs.com.ua, reports.
The NBU has not divulged any details about which banks got the financial assistance and what the volumes of it are but some bankers shared information with Hubs.
Privatbank, which has held deposits of 40.6% of all Ukrainian depositors, was given the largest sum. “As of the end of March the NBU gave it UAH 9bn to cover outflow,”claims a Privat director who requested anonymity. Continue reading
Saturday, April 5, 2014, 10:20
The Ukrainian government announced the launch of a common project of IT companies, reported the portal ain.ua. An Expert Group that includes representatives from both the government and the IT industry is currently working on a detailed plan of action. It will make a presentation on the matter in early April. Continue reading
The Cabinet of Ministers has dismissed Andriy Holovach, head of the tax police, due to liquidation of this agency: Order of the Cabinet of Ministers #285 of April 1. It is anticipated that a Financial Investigations Service (so called financial police) will be created in its place. In addition to the tax police, the new agency will absorb economic crime units of the Ministry of Interior and the State Security Service. Holovach has chaired the tax police from 2010.
Plans to establish a financial police were first discussed about a year ago, under the Yanukovych presidency; however, the idea was rejected at that time.
Translated by Olga Ruda
Tuesday, April 1, 2014, 14:31
In order to reduce the cost of the state apparatus, the Cabinet of Ministers is going to fire 22,200 officials, LigaBiznesInform reports.
According to the infographics published on the website of the government, the CM plans to reduce the staff of the Presidential Administration, the State Administration of affairs and NSDC by 50%. The Verkhovna Rada staff will be reduced by 20%. Continue reading