Fitch Ratings has upgraded the long-term foreign currency issuer default ratings (IDRs) of seven Ukrainian banks to ‘B-‘ from ‘CCC’, Fitch has said in a press release. The banks are State Export-Import Bank of Ukraine (Ukreximbank), State Savings Bank of Ukraine (Oschadbank), Alfa-Bank, Ukrsotsbank, ProCredit Bank (Ukraine), Credit Agricole Bank and Pravex-Bank. The outlooks on…Details
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The financial assistance for the continuation of anti-corruption and civil service reform will be allocated at the 18th EU-Ukraine summit. “The November summit could confirm a further EUR 15 million in support of an anti-corruption program and EUR 104 million for public administration reform”, the EU report says. The summit will be an occasion to…Details
Wheat production in Bulgaria reached a new record in the 2016-2017 market year behind higher yields, favorable weather and a shift in the use of imported genetics, according to a report from the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS). The FAS forecast wheat production for 2016-2017 at 5.65 million tons, up nearly…Details
Last week Ukrainian wheat export prices continued growing on the same factors. Demand for Ukrainian wheat remains strong, while supply is shrinking. This is particularly noticeable in the case of 3rd grade milling wheat. Export prices for Ukrainian milling wheat closed last week up by another $2/MT. So, export market prices for Ukrainian milling wheat…Details
On November 11-20, air temperatures were falling in Bulgaria. They dropped to 5-7 degrees C below zero in some areas. These weather conditions stopped growing processes in winter crops. Winter cereals are mostly at three-leaf stage of plant development. Winter wheat and barley seeded on October 1-10, are at tillering stage. Cereals planted in November…Details
Belarus is getting prepared to hold talks with the European Union in December-January on matters of joining the World Trade Organization (WTO), Belarus’ Ambassador to Belgium and Luxembourg and its Permanent Representative to the European Union and NATO Alexander Mikhnevich said. “They are ready to sit down at a negotiating table with us in December-January”,…Details
Naftogaz Ukrainy has calculated that Russian gas giant Gazprom’s annual payment for gas transit through Ukraine can grow by $4 billion if the Stockholm Arbitration Court favors Kiev, Yury Vitrenko, Naftogaz Ukrainy’s commercial director, said. “The problem is that Gazprom will have to pay us tens of billions of dollars in compensation, sell gas at…Details