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Friday, April 25, 2014
News Making Money

Ukraine 'refuses to pay' $7 bn Russia gas bill: source

28/01/2013 00:34 (451 Day 21:15 minutes ago)

The FINANCIAL -- Ukraine will refuse to pay an unexpected $7 billion bill from Russian gas giant Gazprom for gas Kiev contracted for but did not buy last year, a source said Monday, in a dispute that risks a new gas war between MOSCOW and Kiev.

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"We are not going to pay it," a high-ranking Ukrainian official source told AFP, asking not to be identified and refusing to give any further comment.

Ukraine's state energy firm Naftogaz confirmed over the weekend that it has received the bill from Gazprom, which comes at a time Kiev is bracing for budget trouble amid an economic slowdown.

As EUbusiness said, the bill was presented as the the ex-Soviet state signed a landmark $10-billion shale gas production sharing agreement with global oil giant Royal Dutch Shell in Kiev 's most ambitious move to limit its dependence on Russian gas.

A dispute between Kiev and MOSCOW over gas prices and bills in early 2009 prompted Gazprom to cut gas supplies to Kiev and leave parts of Europe without energy amid a bitterly cold winter.

 

 

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Politics
“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (1 Day 05:11 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.

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TRAVEL BIZ
American Express Reports First Quarter EPS of $1.33, Up 16 Percent from a Year Ago

19/04/2014 14:24 (5 Day 07:25 minutes ago)

The FINANCIAL -- American Express Company reported first-quarter net income of $1.4 billion, up from $1.3 billion a year ago. Diluted earnings per share rose 16 percent to $1.33, from $1.15 a year ago, according to the American Express Company.

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World News
Helping Bulgarian farmers to become landowners

19/04/2014 11:39 (5 Day 10:10 minutes ago)

The FINANCIAL -- The EBRD is providing a €5 million to loan to Elana Agrocredit AD to co-finance the development of Bulgaria’s agricultural land market.

The World Bank Supports Small and Medium-sized Businesses in Tunisia

19/04/2014 10:29 (5 Day 11:20 minutes ago)

The FINANCIAL -- The World Bank approved an additional loan for US$100 million for Micro, Small and Medium Enterprises (MSMEs) in Tunisia.

EBRD loans to boost energy efficiency and support competitiveness of Macedonian companies

16/04/2014 16:42 (8 Day 05:07 minutes ago)

The FINANCIAL -- The EBRD has teamed up with Macedonian bank, NLB Tutunska banka, to increase the competitiveness of the Macedonian private sector and to promote energy efficiency in the country with a €6 million financing package, according to EBRD.      

EBRD helps modernise Baltic freight handling

16/04/2014 16:29 (8 Day 05:20 minutes ago)

The FINANCIAL -- A €32.5 million loan from the EBRD to Klaipedos Smelte, the company operating the container terminal at Klaipeda port in Lithuania, helped modernise its freight handling capacities and upgrade the whole Baltics region as a transit hub, according to EBRD.


Markets
Major Cloud Service Providers Slash Prices; Threaten Smaller Players’ Existence: IDC Warns

19/04/2014 13:40 (5 Day 08:09 minutes ago)

The FINANCIAL -- In the last week of March, major Cloud Service Providers (CSPs) in Asia dropped their prices for core services dramatically and IDC believes that this will make it very difficult for smaller CSPs to remain in business if they continue to rely on provision of basic, undifferentiated services, according to International Data Corporation (IDC).

Oil&Auto
Gazprom and Turkey to look into possible increase in Blue Stream capacity

24/04/2014 08:03 (13:46 minutes ago)

The FINANCIAL -- Ankara hosted a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Taner Yildiz, Minister of Energy and Natural Resources of the Republic of Turkey, according to Gazprom.

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INSURANCE
Zurich identifies seven cyber risks that threaten systemic shock

23/04/2014 17:00 (1 Day 04:49 minutes ago)

The FINANCIAL -- The recently published Zurich Cyber Risk Report, created in collaboration with the international think tank Atlantic Council, argues that cyber-risk management professionals need to look beyond their internal information technology safeguards to interconnected risks which can build up relating to counterparties, outsourced suppliers, supply chains, disruptive technologies, upstream infrastructure and external shocks, according to Zurich Insurance Company.

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