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Wednesday, June 19, 2013
News Making Money

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

28/01/2013 04:34 (142 Day 14:15 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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World News
World’s best-selling weed killer found in human urine across Europe

15/06/2013 16:44 (4 Day 02:05 minutes ago)

The FINANCIAL -- The findings raise concerns about increasing levels of exposure to glyphosate-based weed killers, commonly used by farmers, public authorities and gardeners across Europe. The use of glyphosate is predicted to rise further if more genetically modified (GM) crops are grown in Europe, according to EUbusiness Ltd.

Experts developing framework for responsible marketing of alcohol

30/05/2013 19:03 (19 Day 23:46 minutes ago)

The FINANCIAL -- Heeding the call of industry to ensure robust rules are well understood and coherently applied across markets, the ICC Commission on Marketing and Advertising is developing a new global framework for responsible marketing communications of alcohol, according to the International Chamber of Commerce.

Bares wind farm helps solve energy riddle in Turkey

30/05/2013 19:10 (19 Day 23:39 minutes ago)

The FINANCIAL -- Capable of producing 143 megawatts of power, the EBRD-financed Bares wind farm will boost the amount of electricity generated by wind in Turkey by 8 per cent. Producing that amount of power from fossil-fuel based alternatives would create 317,000 tons of CO2 emissions a year, which is equivalent to the emissions of 75,000 cars, according to the European Bank for Reconstruction and Development.

United States and Saudi Arabia Sign Open Skies Air Transport Agreement

30/05/2013 19:05 (19 Day 23:44 minutes ago)

The FINANCIAL -- U.S. Ambassador James B. Smith and Saudi Arabia’s Deputy Director of the General Authority of Civil Aviation, Dr. Faisal bin Hamad Al-Sugair, signed an Open Skies air transport agreement in Jeddah, Saudi Arabia, according to the U.S. State Department.


Politics
PACE President invites Georgia’s political forces to develop a culture of political cohabitation

30/05/2013 18:44 (20 Day 00:05 minutes ago)

The FINANCIAL -- At the end of his official visit to Georgia, PACE President Jean-Claude Mignon has welcomed the democratic transition of power in the country following the parliamentary elections in October 2012, which were generally considered by observers to have been free and fair, according to Council of Europe.

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Markets
West looks East

15/06/2013 13:31 (4 Day 05:18 minutes ago)

The FINANCIAL -- Sluggish growth in the West is prompting many companies to look further afield for export opportunities. Emerging markets are now major importers as well as exporters and are seeing bigger increases in consumption than developed countries, according to HSBC Group. 

TRAVEL BIZ
Hyatt launches ready to thrive to support global literacy and career readiness

19/06/2013 14:02 (04:47 minutes ago)

The FINANCIAL -- Hyatt Hotels Corporation announced its long-term commitment to education and workforce readiness with Ready To Thrive, a new global philanthropy program focused on literacy and career development. 

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JAL SKY SUITE Named “Best Business Class Airline Seat”at SKYTRAX’s 2013 World Airline Awards

19/06/2013 13:42 (05:07 minutes ago)

The FINANCIAL -- JAL SKY SUITE was named “Best Business Class AirlineSeat” globally, based on the world’s largest airline passenger satisfaction survey conducted by SKYTRAX. Japan Airlines (JAL) received the top honor for its new fully-flat Business Class seat at SKYTRAX’s 2013 World Airline Awards held at Paris Air Show, accordig to Japan Airlines.

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Oil&Auto
BMW Group reports best May sales ever

14/06/2013 16:44 (5 Day 02:05 minutes ago)

The FINANCIAL -- With 166,397 BMW, MINI and Rolls-Royce automobiles delivered worldwide, the BMW Group achieved its best-ever May sales result. A total of 770,025 vehicles have been delivered to customers since the start of the year, the highest sales figures ever for the company in the first five months of the year, according to the BMW Group.

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INSURANCE
Agri-Insurance Set to Become Leading Product despite Scepticism among Agri-Producers

17/06/2013 13:58 (2 Day 04:51 minutes ago)

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The FINANCIAL -- Since the agriculture sector has become one of the priorities of the new government in Georgia experts expect agricultural insurance to soon become one of the leading insurance products in Georgia. 

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