‘ Kiev Pays $7.33 Million Coupon Payment on $3 billion Euro-Bond Purchased by Russia ‘

#AceFinanceNews – UKRAINE (Kiev) – Kiev has paid a $73.33 million coupon payment on a $3 billion Eurobond purchased by Russia in December, Ukraine’s Finance Ministry said Friday.

​(The deadline for the coupon payment was June 22, Reuters reported).


‘ House Approves $491 Billion on Defence Spending Bill for the Pentagon ‘

#AceFinanceNews – UNITED STATES – June 20 – The House on Friday approved a $491 billion spending bill for the Pentagon that seeks to prevent future prisoner transfers from Guantanamo Bay.

The bill was approved in a 340-73 vote, with all but six of the no votes coming from Democrats.

The Obama administration has said it "strongly opposes" the bill, but has stopped short of a veto threat.

It has objected to the Guantanamo prisoner restrictions, as well as language in the bill that would prevent discussion on a new round of base closures.

By Cristina Marcos @The Hill


‘ Ukraine Holding Talks with Creditors on Restructuring its Foreign Currency Debts ‘

#AceFinanceNews – UKRAINE – June 20 – Ukraine is holding talks with creditors on restructuring its foreign currency debts, an official from an international finance association said on Thursday following recent meetings with Ukrainian officials.

Lubomir Mitov, an economist with the Institute of International Finance, said that while Ukraine’s finances were precarious, it was too soon to say whether it would need to change the terms of its debt.

​(Gross Foreign Reserves)

Mitov said Ukrainian officials stressed they would avoid forcing any so-called haircuts on bondholders in a restructuring.

​(Non-Resident Holdings of Ukrainian Government Debt)

"The Ukrainians authorities made very clear to us that they would consider this only as a really, truly voluntary operation agreed by the bondholders," Mitov told journalists by phone. "A voluntary exchange or maturity extension could be one of the sources for financing."

The IIF, a trade group for international finance, said Mitov had recently visited Ukraine.

Ukraine’s economy is under severe pressure as the country struggles from what Russian President Vladimir Putin has described as a civil war.

Militants in Eastern Ukraine are fighting for secession from the country.

PDF: Economic Growth or Decline


‘ European Commission Take Axe to Red-Tape on Extending Maternity Leave, Investor Compensation Schemes and Fund for Victims of Oil Pollution Damage ‘

#AceFinanceNews – BRUSSELS – June 20 – The European Commission has announced that a plan to extend maternity leave for pregnant workers is one of five bills that will not be re-tabled in the next legislature.

Also killed off were bills on investor compensation schemes, and a 12-year old plan to set up a compensation fund for the victims of oil pollution damage.

In a statement on Wednesday (18 June), the commission said that it was “good legislative practice to withdraw proposals that do not advance in the legislative process,” and noted that the proposals were either “outdated” or lacked support by MEPs and ministers.

The EU executive added that it had abandoned plans to table legislation on occupational health and safety for hairdressers. It also intends to repeal legislation relating to energy labelling, transport rates and the common agricultural policy.

The commission says it has slashed the cost of administrative burdens by €32.3 billion and scrapped more than 6,000 legal acts since 2005.

It introduced the so-called Refit programme last October after a number of governments expressed frustration about the volume of EU regulation on businesses.


‘ Nigel Farage Forms EFD Group to Battle Conservatives Alliance with ECR Group but its is Early Days ‘

#AceFinanceNews – BRUSSELS – June 20 – British eurosceptic leader Nigel Farage has managed to form a group in the EP, but his 48-strong team has a mixed bag of political beliefs.

Among the personalities is a 64-year old who defected from France’s National Front, representatives from a Swedish party which has a fascist past, and a Latvian out to secure more aid for farmers.

The new group is an important victory for Farage, who has been battling with the anti-federalist ECR group, led by Britain’s Conservatives, for the allegiance of many of the same MEPs over the past few weeks.

His Europe of Freedom and Democracy (EFD) is composed of 24 Ukip MEPs, 17 Italians from the anti-establishment Five Star Movement, two Lithuanians, one Czech, one French, two Swedes, and one Latvian.

It is currently the smallest group in the EP, with all groups to be finally formed by 24 June.