On July 2nd, the European Commission has decided to grant an additional €85 million to the Neighbourhood Investment Facility (NIF) for 2010. This will allow neighbouring partner countries to leverage increased funding for major investment projects in key areas such as energy, transport and environment, as well as in the social sector (for projects such as construction of schools and hospitals). Private sector development will also be encouraged, targeting especially Small and Medium Enterprises (SMEs). [more]

Belgium took over the rotating six-month EU Presidency on July 1st, and will pass it to Hungary on January 1st 2011. Fight against financial crisis, creation of new jobs and climate change have become key points of the new presidency’s working program. Belgium will advocate more institutional control over financial markets to protect businesses from financial instability risks.
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Ukraine`s real economy has continued to perform well with a real rate of GDP growth of 6.9% yoy in January-September 2008. However, Ukraine`s near term outlook has worsened substantially, although medium-term prospects remain good.

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Russian energy giant Gazprom said Sunday that Ukraine had paid only part of its huge gas debt and threatened Kyiv with a more than double price hike unless all arrears were cleared this year, AFP reported. [more]

On November 20 the formal establishment of the first ever Norwegian-Ukrainian Chamber of Commerce took place at Telenor‘s headquarters in Norway. The chamber will have as its main ambition to promote increased trade and business relations between Ukraine and Norway. [more]

A second referendum on a modified Lisbon treaty is the main option for Ireland, according to a report submitted by an cross-party group of deputies in the country’s parliament on Thursday (27 November). [more]

Ukraine’s Cabinet of Ministers has signed an agreement with the World Bank about raising UAH 3 billion for 30 years at an annual interest rate of 5% to cover the budget deficit. [more]

Russian gas export monopoly Gazprom said on Tuesday Ukraine has agreed to repay by Dec. 1 its gas debt to Russia for all September and some October deliveries, Reuters reported. [more]

Ukrainian Prime Minister Yulia Tymoshenko has issued instructions for the drafting of a project to prospect for gas off the country`s Black Sea coast, RIA Novosti reported. [more]

With uncertainty still reigning over Georgia’s hopes to one day become a member of NATO, in the aftermath of its conflict with Russia, the alliance’s Secretary General Jaap de Hoop Scheffer re-stated the military group’s desire to see Ukraine join its ranks at a high-level conference being held in the Estonian capital, Tallinn, on November 13. In his opening speech, de Hoop Scheffer said the talks were taking place at a special moment in NATO-Ukraine relations. [more]