Original post:
I sure hope this isn't an internet hoax. If this story is true it means that things are worse in Ukraine than generally believed in the West and could have an impact on some subjects we follow:
"Morgan Stanley’s Ukrainian Farming Adventure" (MS; MOO; DBA)
Farmland: "Investors pump $400m into Ukraine farming groups"; Soros-Backed Adecoagro Trades solidly Above IPO Price Despite Loss (AGRO)
By the way Mr. Soros' Adecoagro has collapsed on fears that Argentina may expropriate the farms, always a risk in foreign land speculation.
From The Daily Bell:
Here's the It's Ukraine story.Use of foreign currency in the advertising is forbidden in Ukraine ... Verkhovna Rada adopted amendments to Article 8 of the Law "On Advertising". According to new Law it is forbidden now to specify prices of goods and services in foreign currencies in any advertisement, which is placed or distributed in Ukraine. 266 deputies have voted for these changes to the Law. – It's Ukraine
Dominant Social Theme: Any nation has to protect its currency and should do so.
Free-Market Analysis: Ukraine is struggling with its economy and currency and, as we have seen with other countries, the solution is to pass laws that control money and prop it up.
Spain and Mexico have passed laws restricting cash. There are various forms of control on many currencies, though many are not stated outright. Here (see article excerpt above) we have an example of a fairly aggressive attempt at currency manipulation.
Not only is the government going to insist that price information be provided only in the national currency; those behind the law intend that such moves will reportedly provide a "legal basis for limiting the use of foreign currency in Ukraine," according to the article in It's Ukraine....MORE
Also at It's Ukraine: "English may become regional language in Ukraine"
Update: "In Other Ukraine News: Government Collapses, Prime Minister Resigns"
The story immediately above
Ukrainian Airlines Aerosvit together with a new Israeli startup,
SeatID, launches a service that allows passengers at the time their
flight booking to get information about fellow passengers and to contact
them via social networking websites. In general, SeatID service lets
you use your social network to help pick your next flight and seat
assignment.
Read the full story »
Read the full story »
