11 June 2010

Hot...Its Hot.....what about the economy?

The temperature reached 33 degrees today in Kyiv. I even saw some people using umbrellas as sun shades. The problem in Ukraine is that when the weather is good, people have an immediate reaction to work. i.e. why do any?. The beaches along the river Dniper are packed already. The idea of any 'Protestant Work Ethic' is far off in Ukraine. Moreover, come the months of July and August, and maybe this month, we will see many people leaving for holidays only to return in September.

Talking of hot... here is some hot news:
A company controlled by Dmitry Firtash, the Ukrainian natural gas trader, said a Stockholm court had ruled in its favour and ordered Kyiv to return 11 billion cubic meters of gas worth billions of dollars to a company he co-owns with Russia's Gazprom. The ruling could not be immediately confirmed, but if true and enforced, could mark the return of Mr Firtash as a key Gazprom partner in the supply of gas to Ukraine and European markets. Reclaiming a major role in the region’s lucrative gas trading business could significantly boost the clout of Mr Firtash, seen as a strong backer of Ukraine’s new president Viktor Yanukovych

Never a dull moment in Ukraine.

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