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Economy

Crude price shock sends Canadian oil service companies into whirlwind
The crude oil price collapse has forced some Canadian oil service companies to cut their workforces, budgets, and salaries, as their energy-producing customers have been struggling with their own budget cuts and market uncertainty.

27.02.2015 01:59

China agrees to amend $3.6bn loan agreement with Ukraine
The National Bank of China has agreed to extend the range of projects the Ukraine’s cash-strapped Naftogaz can fund with a $3.6 billion credit line agreed in 2012.

26.02.2015 10:04

Revealed: McDonald's €1bn tax loophole
Fast-food chain McDonald’s has been accused of avoiding over €1 billion in European corporate taxes between 2009-2013. A report by a coalition of European and American trade unions has revealed the company’s alleged tax avoidance strategy.

26.02.2015 13:34

Donbas blames Kiev ‘economic blockade’ for multi-currency introduction
The people’s republics of Donetsk and Lugansk will introduce a multi-currency financial system using the US dollar, euro and yuan. This is to shield against the free fall of the domestic currency, the hryvnia, and the “economic blockade” by Kiev.

26.02.2015 12:22

'V for Varoufakis!' Greek finance minister burns EU with laser eyes (VIDEO)
As Greece’s finance minister clashes with the EU and his German counterpart over Athens' debt to the Troika of European lenders, a German show has uploaded a YouTube video spoof of the economic standoff between them, entitled ‘V for Varoufakis’.

26.02.2015 12:04

Russia’s MICEX this year’s best performing stock index
The Russian ruble-denominated MICEX is currently the best performing index this year, with analysts expecting the growth streak to continue, despite rating downgrades, Western sanctions and the plunge in the oil price.

26.02.2015 07:42

Snow business: Massachusetts man sells bottled blizzard for $19.99
An American entrepreneur has found a way to turn Boston’s record-breaking snow month into a money-making machine, shipping snow from his yard all across the US for just $19.99 a bottle.

26.02.2015 04:27

Russia to help Cyprus overcome crisis aftermath – Putin
Russia will continue to help Cyprus to gets over its debt crisis said President Putin after talks with Cyprus President Nicos Anastasiades in the Kremlin. Moscow has already provided the country with a €2.5 billion loan.

25.02.2015 14:32

First sale of German five-year debt with negative yield
Germany has sold €3.28 billion in five-year bonds with a negative yield for the first time in its history, just days before the eurozone’s monthly €60 billion ‘easy money’ program starts.

25.02.2015 13:02

China manufacturing PMI hits 4-month high in February but exports dive
A preliminary estimate of China’s purchasing managers’ index (PMI) that reflects business conditions in manufacturing, shows the sector started to grow after four months of contraction, with exports remaining sluggish.

25.02.2015 09:53

​Kiev introduces rationing, as falling hryvnia causes shopping binge
Ukrainian supermarkets have imposed rationing of basic products after the drastic fall in the value of the hryvnia. The currency has lost 70 percent of its value causing people to stockpile food and buy electronics as a hedge.

25.02.2015 10:58

Putin: Gas supplies to Europe could suffer in 3-4 days if Kiev doesn't pay
Russia will cut off gas supplies to Ukraine if Kiev fails to pay in “three or four days,” President Vladimir Putin said, adding that this "will create a problem" for gas transit to Europe.

25.02.2015 14:01