Crimean parliament votes to join Russia March 6, 2014 Crimea's vice premier, Rustam Temirgaliev, announced on Thursday that the region will be holding a referendum on whether to join the Russian Federation on March 16, according to RIA news agency. Temirgaliev said the referendum would involve two questions: Are you in favour of Crimea becoming a constituent territory of the Russian Federation? Are you [...]
Asian markets rise as Ukraine tensions ease March 6, 2014 Asian markets are rising on the back of fresh diplomatic efforts to ease tensions between Ukraine and Russia. Although there has been no resolution to the crisis, investors took heart from US secretary of state John Kerry's remarks that talks between Washington and Moscow would continue in the coming days. EU leaders yesterday agreed a [...]
EU agrees €11bn Ukraine bailout as UN envoy is threatened March 5, 2014 EU LEADERS yesterday agreed a larger than expected €11bn (£9bn) potential financial bailout package for Ukraine at an emergency Paris summit. European Commission president Jose Manuel Barroso said the assistance, to be discussed by European Union leaders at a summit in Brussels today, would depend on the new Ukrainian government instigating widespread reform, as well [...]
Letters to the Editor – 06/03 – Investment risks, Russia’s takeover, Best of Twitter March 5, 2014 Investment risks [Re: Memo to the City and UK industry: 2014 is the year for business investment, yesterday] Danny Alexander’s challenge to businesses for a pick-up in investment misses the fact that political factors are behind part of the recent lull. As the CBI recently pointed out, the uncertain political environment is currently one of the [...]
What you need to know before the US open March 5, 2014 Things have calmed down a bit today. European bourses have steadied, as Washington and Moscow meet for talks over Ukraine, and it looks like the S&P 500 will open flat to slightly lower, following yesterday's record high. UK Prime Minister David Cameron has said Russia will face “costs and consequences” for its military action against [...]
Energy markets safe from Ukraine crisis says Goldman Sachs March 5, 2014 Despite the ongoing tensions between Russia and Ukraine the impact on energy markets is likely to minimal, according to a research note from Goldman Sachs. A view that may carry considerable weight given yesterday's sharp rally in natural gas prices. Goldman believe there is no real reason to be concerned about the safety of natural [...]
Calmer markets come off sharp gains March 5, 2014 European bourses edged slightly lower at the open, as tensions over Ukraine ease but investors remain cautious. Ukrainian prime minister Arseniy Yatsenyuk has just said that Russian “aggression” is having an extremely negative effect on the country’s struggling economy. The US has demanded Russian forces are pulled back from Crimea. Russia’s Micex index fell 1.8 [...]
Obama: Putin is fooling nobody March 4, 2014 BARACK Obama issued a stark message to President Putin yesterday, warning that Russia’s attempts to legitimise military intervention in Crimea are fooling nobody. The US President all-but accused Putin of violating international law, while US secretary of state John Kerry reiterated the threat of economic sanctions against the country if Putin does not withdraw his [...]
Gazprom cancels discount on gas supply for Ukraine March 4, 2014 RUSSIAN-state owned utility Gazprom will strip Ukraine of its discount for gas prices from April, it said yesterday, as chief executive Alexey Miller claimed the country owes debts of $1.529bn (£920m) to his company. Gazprom says it has not received payments for gas sent in January, adding to huge debts accumulated debt over the past [...]
Companies are spooked by volatile Ukraine March 4, 2014 GLOBAL companies are watching developments in Ukraine nervously, as markets react with uncertainty to the standoff between Russia, Ukraine and the rest of the world. Yesterday car manufacturer Renault scaled back its growth forecast to just under two per cent, citing volatility in emerging markets. The warning comes despite the car market picking up across [...]