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Archive for January 8th, 2010

Ukrainian banks might renew crediting in 2010

Posted by the Editor on January 8, 2010


News / 8 January 2010 | 18:17

Ukrainian banks might renew crediting in 2010

Banks will renew crediting in 2010, Ukrsotsbank Board Chairman Borys Timonkin believes.

“If 2009 was a year of liquidity stabilization, the year 2010 will be a year of a credit portfolio stabilization, the year of return to financing,” he has said.

According to him, banks will have to restore crediting in order to come by the end of 2010 to the credit portfolio volumes of early 2009. In 2011, the credit portfolio of large banks will start growing.

At the same time, the Ukrainian banks may offer for sale the portfolios of unsecured credits to the amount of UAH 8 billion to UAH 12 billion (USD 1/UAH 7.98) in 2010, Ukr-Finance Ltd. Director Christian Schuller has said.

The company estimates the troubled loan market at UAH 2 billion in 2010. “According to our forecasts, banks will sell such portfolios gradually, since the rules for their salling are not established on the market,” Schuller believes.

Ukr-Finance Ltd. Collector Company worked with over 100,000 credit cases in 2009, debts on them exceeds UAH 1.3 billion and purchased troubled loans with a nominal value over UAH 600 million.

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If elected, Yanukovych planning to pursue pragmatic foreign policy

Posted by the Editor on January 8, 2010


News / 8 January 2010 | 16:31

If elected, Yanukovych planning to pursue pragmatic foreign policy

If elected the president, Viktor Yanukovych, the leader of the opposition Party of Regions, is planning to carry out a pragmatic and balanced foreign policy, he said this in an interview with the Komsomolskaya Pravda in Ukraine newspaper, UKRINFORM reported.

“Ukraine must have its unique face. I would like this face be confident, deserved and happy. That is why we will be pursuing a pragmatic and balanced foreign policy. We will be further developing Eurointegration process. But it must be based on modernizations and transformations inside Ukraine,” Yanukovych said.

The presidential runner underlined “I understand full well that Europe is not waiting for us with open arms. So we must raise the living standards by ourselves so that they become the European standards’.

Asked by reporters about NATO accession or joining the Collective Security Treaty Organization (CSTO), Yanukovych said “Surely, Ukraine has been and will be a non-aligned state, like it is today. We will intend to join neither NATO nor CSTO. We will preserve a neutral status’.

He added that ‘we are ready to consider an initiative of Russian President Dmitry Medvedev on the creation of a new European collective security system’.

Yanukovych also said that in relations with Russia and other CIS countries his team would consider ‘joining the Common Economic Space based on the principles 3+1 (Russia, Belarus, Kazakhstan + Ukraine) and based on the principles of the World Trade Organization’.

Besides, Ukraine should become a reliable partner in gas relations both of Russia and the European Union,” Yanukovych underscored.

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Tymoshenko to ensure Ukraine’s presidential election are fair and transparent

Posted by the Editor on January 8, 2010


News / 8 January 2010 | 14:46

Tymoshenko to ensure Ukraine’s presidential election are fair and transparent

Ukrainian Prime Minister Yulia Tymoshenko, herself a candidate for president, promised on Thursday to ensure Ukraine’s presidential election are fair and transparent.

At a meeting with Heidi Tagliavini, the chairman of the OSCE election monitoring mission in Ukraine, Tymoshenko said she would do everything necessary so that the January 17 vote is carried out in accordance with European standards.

“We want to prevent fraud. We have turned to the OSCE and other international organizations that can send observers to prevent a recurrence of tampering like that in 2004,” Tymoshenko was quoted as saying by the government’s press office.

The final opinion polls, which under Ukrainian law are published two weeks before the election, showed Tymoshenko running second to Party of Regions leader Viktor Yanukovych among the 18 candidates.

Yanukovych won a runoff against Viktor Yushchenko in 2004, but the vote was ruled illegitimate and Yushchenko was elected president in the re-run.

Tagliavini stressed the importance of the head of government in ensuring transparent elections, and praised the work of Tymoshenko’s government in preparing for the elections.

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Gazprom confirms December payment for Ukraine gas supplies

Posted by the Editor on January 8, 2010


News / 8 January 2010 | 12:43

Gazprom confirms December payment for Ukraine gas supplies

Russia’s Gazprom confirmed on Thursday that it had received payment in full for December’s gas deliveries to Ukraine, RIA Novosti reported.

On Wednesday, Ukrainian Energy Minister Yuriy Prodan pledged the former Soviet republic would pay on schedule $892 million for Russian gas supplied in December.

However, President Viktor Yushchenko had earlier said Ukrainian national energy company Naftogaz lacked the funds to pay and ordered Vladimir Stelmakh, head of Ukraine’s National Bank, to resolve the problem.

On December 31, the IMF permitted the Ukrainian government to spend $2 billion from the National Bank’s gold and foreign exchange reserves to pay for Russian gas deliveries.

Russia, which supplies around one quarter of Europe’s gas, briefly shut down supplies via Ukraine’s pipeline system at the start of 2009 amid a dispute over unpaid bills and new prices.

The conflict was resolved in January, when Russian Prime Minister Vladimir Putin and his Ukrainian counterpart Yulia Tymoshenko reached a deal on imports and transit for 2009.

Ukraine transits around 80% of Russia’s Europe-bound gas.

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Ukraine took 68th place regarding the best quality of life

Posted by the Editor on January 8, 2010


News / 8 January 2010 | 11:00

Ukraine took 68th place regarding the best quality of life

International Living magazine every January ranks and rates countries to come up with our list of the places to offer its readers the best quality of life.

“This isn’t about best value, necessarily. It’s about the places in the world where the living is, simply put, great,” said the magazine.

This year Ukraine took the 68th place of the list. To rate and rank the 194 countries considered in this year’s Quality of Life Index, the magazine took into account the following: Cost of Living, Culture and Leisure, Economy, Environment, Freedom, Health, Infrastructure, Safety and Risk, Climate.

Regarding the culture Ukraine took 61points out of 100 possible; as for economy – only 42 points; freedom brought Ukraine just 75 points; infrastructure was valued as 60, safety – 71; climate score is the highest – 78.

France has been the winner for the past five years, Australia was ranked second. Switzerland was third, Germany fourth and New Zealand fifth.

The United Kingdom ranked 25th, behind countries such as the Czech Republic, Lithuania and Uruguay.

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