Shops and Supermarkets in `Crimea ‘ prepare for ` Change-Over ‘ to the `Russian Rouble ‘ on March 24 ‘

#AceFinanceNews – SIMFEROPOL,- March 23 – Shops in Crimea are getting ready to change over to pricing in Russian roubles after but some retailers will be unable to do it as of Monday, March 24 because of technicalities.

An Itar-Tass reporter could see it while making a tour of several supermarkets in Simferopol and Sevastopol.

Labels with dual prices have appeared in some department stores. The prices in Ukrainian hrivnas as converted into roubles at a fixed exchange rate of 3.8 roubles per one hrivna.

Shops of the Epitsentr hypermarkets of construction materials and household appliances are distributing leaflets that say ‘Some prices in roubles and hrivnas’.

However, dual prices have so far been appointed for the commodities of 1,000 and more hrivnas apiece.

Along with it, neither cashiers nor managers at an Epitsentr hypermarket in Simferopol were able to tell whether the transactions in roubles would begin Monday – the day on which the rouble would become the official monetary unit in Crimea.

“At this moment, our cash registers are aligned to pricing in hrivnas,” a manager told Itar-Tass.

Ace Related News
1. 20 March – `6.22 GMT – #AceFinanceNews – The Russian rouble will officially adopted in Crimea on March 24, Crimean State Council (parliament) Chairman Vladimir Konstantinov said on Thursday, March 20. http://wp.me/pzTwj-2Lr

Tass and Russian Finance News

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#crimea, #hrivnas, #rouble, #sevastopol, #simferopol

` Swiss SDP Christian Levrat is confident `Bern ‘ will refrain from any form of ` Sanctions ‘ against Russia ‘

#AceFinanceNews – GENEVA – March 23 – President of the Swish Social Democratic Party Christian Levrat is confident Bern should refrain from imposing sanctions against Russia as a response to its re-unification with Crimea.

This step would sharply narrow mediation opportunities of the Swiss Confederation, Levrat said in an interview with the Swish German-language daily Neue Z·rcher Zeitung that was published on Sunday.

“Switzerland’s role differs from the roles of the European Union and the Unites States,” he said. “Switzerland comes forward as a mediator which implies that it should refrain from joining the sanctions of other countries though their reaction is quite understandable.”

Switzerland chairs the Organisation for Security and Co-operation in Europe /OSCE/ this year, the politician said dubbing it the world’s most neutral organisation and an ideal platform for settling disputes between the East and the West.

Russian, Swiss and European News

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#bern, #crimea, #european-union, #geneva, #german, #organisation-for-security-and-co-operation-in-europe-osce, #russia, #switzerland, #united-states

` Greece's Debt Problems have Caused the `Troika ' Problems Firstly with Handling and now Solving the Crisis '

#AceFinanceNews – ​EUROPEAN UNION – European lawmakers are calling into question the ability of the Troika to effectively deal with the crisis, and many are attacking its methods.

An investigation report due in April will look at the handling of the Greek sovereign debt debacle.

The probe by the European Parliament on how the International Monetary Fund (IMF), the European Central Bank (ECB), and the European Commission (EC) monitored and helped to solve the euro debt crisis, which started in 2008, triggered by the US financial collapse.

“The Troika acts like a governor and visits it’s colonies in the south of Europe and tells them what to do. The measures that they come up with though are not always very effective,” Derk Jan Eppink, an MEP from Belgium who initiated the probe into the Troika, told RT.

The IMF has admitted it made mistakes in the handling of Greece’s first international bailout, but some EU lawmakers want more answers.

Findings are expected to be published in April 2014, a month before the next EU Parliamentary elections.

RT – Finance News and Media Sources

#AFN2014

#europe, #european-central-bank, #european-commission, #european-union, #greece, #greek, #imf, #international-monetary-fund, #troika, #us

` Ukrainian Deputy PM `Yuri Boiko ‘ believes detention of Naftogaz Chairman of the Board was with Rude Violation ‘

#AceFinanceNews – KIEV, March 23 – Former Ukrainian Deputy Prime Minister Yuri Boiko believes that Chairman of Ukrainian national joint stock company Naftogaz Ukrainy board Yevgeny Bakulin was detained with rude violation of the country’s legislation. Boiko has made a statement live on Public TV on Sunday.

“The detention was made when Ukraine signed political part of the Agreement on Association with the European Union under which the country committed to observe strictly the political association deal…Meanwhile, yesterday armed police came to Naftogaz Ukrainy head office, detained the chief executive with violation of all these laws, his lawyer even called 102 that unidentified people took him away,” the former deputy prime minister noted.

Court ruled to release Bakulin on a bail of 1.5 billion hryvnas (147.1 million dollars according to current hryvna exchange rate per U.S. dollar of the National Bank of Ukraine).

Russian Finance News

Ace Related News
1. March 21 – 21.15 GMT – Extract – #AceFinanceNews – KIEV, March 21.- Ukraine’s Ministry of Interior Affairs has on Friday detained the Chairman of the Board of national oil and gas company Naftogaz Yevhen Bakulin within the framework of investigation of major corruption schemes in the gas industry.

Parliament-appointed Minister of Interior Affairs Arsen Avakov said this in a statement.http://wp.me/pzTwj-2N0

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#kiev, #naftogaz, #naftogaz-ukrainy

International Payment Systems : ` Visa and Mastercard ‘ Unblock Cards of Bank ` Northern Sea Route (SMP) ‘

#AceFinanceNews – MOSCOW – March 23 – International payment systems Visa and Mastercard have unblocked cards of bank “Northern Sea Route” (SMP), the crediting organisation stated on Sunday.

“Payment system Mastercard has taken the decision to this effect overnight to Sunday and system Visa – on Sunday morning. The validity of cards Mastercard is fully restored, transactions with Visa cards will begin within a few hours as long as communications channels adjusted and equipment settings are updated,” a press release said.

The bank believes payment systems recognized that their actions regarding SMP Bank were wrong, as cards of the bank were blocked after the United States had imposed sanctions against main shareholders of the company.

After this card holders in this bank could not use them to pay for goods and services and take cash in foreign countries.

Cash issue on cards was made only at cashier desks and automated teller machines at SMP Bank and automated teller machines of the Unified Payment System.

#AFN2014

#mastercard, #moscow, #northern-sea-route-smp, #united-states, #visa

` China's Yuan may become the World's `Third Reserve Currency ' says Managing Director and Chief Economist of Sberbank CIB '

#AceFinanceNews – BEIJING – March 23 – China’s yuan (renminbi) may become a third reserve currency in the world in the future, Managing Director and Chief Economist of investment company Sberbank CIB Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday.

“This forecast can be made on figures of domestic economic growth. Probably the country will keep high GDP growth rate and the GDP volume will increase to around 14-16 trillion U.S. dollars for a brief period of time, the indicators comparable to the European Union and the United States.

Meanwhile, Chinese securities are more attractable for the countries that have a surplus in economy, particularly the Middle East states, and China will obviously follow the path of securing the country’s assets,” the expert noted.

On January 23, 2012, Sberbank and Troika Dialog announced the closure of the deal for Sberbank’s acquisition of 100% of Troika Dialog’s equity capital.

As a result of the subsequent integration, the Corporate & Investment Business was created, which has been operating under the Sberbank CIB brand since October 8, 2012.

Sberbank CIB’s key areas of business are corporate financing, securities and derivatives trading, structured products, private equity investments, mergers and acquisition consulting, debt and equity capital procurement, as well as market research.

Ace Related News
1. March 1 – 12.15 GMT – Extract – #AceFinanceNews says that `Chinese Yuan can become dominant world reserve currency according to the latest surveyhttp://wp.me/pzTwj-2sn

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#beijing, #china, #chinese, #chinese-yuan, #european-union, #middle-east, #sberbank, #united-states