ITAR-TASS: Economy - Ukraine’s president prepares to sell assets via Rothschild-report:
"KIEV, August 22. /ITAR-TASS/. Ukraine’s President Petro Poroshenko has started preparations for selling assets and he has chosen investment company Rothschild as agent for sales, the company’s Managing Director Giovanni Salvetti told Friday to local correspondents of radio station Radio Svoboda.
“We’ve received good news today and we are glad that we have been chosen for this important transaction. Our company is one of the leading world advisors on merger and acquisition agreements,” Salvetti told RFE/FL’s Ukrainian Service.
The company will begin selling Poroshenko’s assets next week, he said."
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Friday, 22 August 2014
Russia’s Rosneft, Norway’s NADL Sign Asset Swap Deal | Business | RIA Novosti
Russia’s Rosneft, Norway’s NADL Sign Asset Swap Deal | Business | RIA Novosti:
"Russian state energy giant Rosneft said Friday it had agreed to swap assets and purchase shares in Norway's North Atlantic Drilling (NADL).
In a statement posted on its website, the top Russian crude producer said the agreement it had signed with NADL and an offshore drilling company, Seadrill, foresaw “the acquisition by Rosneft of NADL shares through an exchange of assets and investments in NADL charter capital.”
It also said the accord left open the possibility of Rosneft's increase in its NADL stake “according to the development of the cooperation.”"
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"Russian state energy giant Rosneft said Friday it had agreed to swap assets and purchase shares in Norway's North Atlantic Drilling (NADL).
In a statement posted on its website, the top Russian crude producer said the agreement it had signed with NADL and an offshore drilling company, Seadrill, foresaw “the acquisition by Rosneft of NADL shares through an exchange of assets and investments in NADL charter capital.”
It also said the accord left open the possibility of Rosneft's increase in its NADL stake “according to the development of the cooperation.”"
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Ukraine Economy Minister Pavlo Sheremeta Resigns | News | The Moscow Times
Ukraine Economy Minister Pavlo Sheremeta Resigns | News | The Moscow Times:
"Ukrainian Economy Minister Pavlo Sheremeta said Thursday he had tendered his resignation and voiced frustration at not being able to push ahead with much-needed economic reform.
After months of fighting in its eastern regions following the toppling of a government blighted by corruption and economic mismanagement, Ukraine's economy has contracted sharply, even with a multi-billion dollar financial lifeline from the International Monetary Fund.
Sheremeta had vowed to slash red tape and eliminate corrupt practices that have helped to virtually bankrupt Ukraine when he was appointed soon after the ousting of Moscow-backed president Viktor Yanukovych in February."
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"Ukrainian Economy Minister Pavlo Sheremeta said Thursday he had tendered his resignation and voiced frustration at not being able to push ahead with much-needed economic reform.
After months of fighting in its eastern regions following the toppling of a government blighted by corruption and economic mismanagement, Ukraine's economy has contracted sharply, even with a multi-billion dollar financial lifeline from the International Monetary Fund.
Sheremeta had vowed to slash red tape and eliminate corrupt practices that have helped to virtually bankrupt Ukraine when he was appointed soon after the ousting of Moscow-backed president Viktor Yanukovych in February."
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Russia Said to Forgo $6.7 Billion of Oil Revenue for Investment - Bloomberg
Russia Said to Forgo $6.7 Billion of Oil Revenue for Investment - Bloomberg:
"Russia may lose as much as 240 billion rubles ($6.7 billion) of oil revenue next year after the government chose a three-year tax plan favored by crude producers, according to two state officials.
Deputy Prime Minister Arkady Dvorkovich picked the lower of two proposed oil output tax rates, leaving an additional 55 billion rubles in producers’ pockets, the officials said, asking not to be identified because discussions were confidential. Dvorkovich, who made his choice to encourage investment, met today with government and business representatives to set the rates before the budget is sent to parliament.
Russia, the world’s biggest energy exporter, is trying to balance the interests of producers and the budget with the $2 trillion economy on the brink of recession amid a standoff with the U.S. and Europe over Ukraine. Oil taxes provide about 45 percent of the country’s budget revenue."
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"Russia may lose as much as 240 billion rubles ($6.7 billion) of oil revenue next year after the government chose a three-year tax plan favored by crude producers, according to two state officials.
Deputy Prime Minister Arkady Dvorkovich picked the lower of two proposed oil output tax rates, leaving an additional 55 billion rubles in producers’ pockets, the officials said, asking not to be identified because discussions were confidential. Dvorkovich, who made his choice to encourage investment, met today with government and business representatives to set the rates before the budget is sent to parliament.
Russia, the world’s biggest energy exporter, is trying to balance the interests of producers and the budget with the $2 trillion economy on the brink of recession amid a standoff with the U.S. and Europe over Ukraine. Oil taxes provide about 45 percent of the country’s budget revenue."
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Russia Stocks Post Longest Rally Since 2005 as Ruble Gains - Bloomberg
Russia Stocks Post Longest Rally Since 2005 as Ruble Gains - Bloomberg:
"The Micex Index (INDEXCF) rose for a 10th day in the longest winning streak in nine years on bets President Vladimir Putin’s meeting with his Ukrainian counterpart next week will reduce tension. The ruble strengthened.
The gauge added 1 percent to 1,461.75, bringing the 10-day advance to 9.6 percent, the biggest stretch of gains since the 11 days ended Sept. 2, 2005. The ruble appreciated for the first time in three days, strengthening 0.2 percent to 36.24 per dollar by 6 p.m. in Moscow, when the central bank stops its market operations.
President Petro Poroshenko andPutin agreed to meet in Minsk on Aug. 26 to discuss de-escalation, triggering bets the standoff over Ukraine may be closer to a resolution. U.S.-based exchange-traded funds investing in Russian shares have had inflows of $110 million since Aug. 7, equivalent to 4.9 percent of their market value, data compiled by Bloomberg show."
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"The Micex Index (INDEXCF) rose for a 10th day in the longest winning streak in nine years on bets President Vladimir Putin’s meeting with his Ukrainian counterpart next week will reduce tension. The ruble strengthened.
The gauge added 1 percent to 1,461.75, bringing the 10-day advance to 9.6 percent, the biggest stretch of gains since the 11 days ended Sept. 2, 2005. The ruble appreciated for the first time in three days, strengthening 0.2 percent to 36.24 per dollar by 6 p.m. in Moscow, when the central bank stops its market operations.
President Petro Poroshenko andPutin agreed to meet in Minsk on Aug. 26 to discuss de-escalation, triggering bets the standoff over Ukraine may be closer to a resolution. U.S.-based exchange-traded funds investing in Russian shares have had inflows of $110 million since Aug. 7, equivalent to 4.9 percent of their market value, data compiled by Bloomberg show."
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