KIEV, Oct. 31 - Ukraine's economy, led by weakening exports of steel, contracted 1.3% on the year in the third quarter, dashing the government’s hopes for recovery this year.

The contraction, reported by the State Statistics Committee, reverses slow growth of 3% on the year in the second quarter and 2% growth in the first quarter.

KIEV, Oct. 28 - Lysychansk oil refinery (LINIK, Luhansk region) is ready to operate its facilities at full capacity and stop refining on a tolling basis so as to supply fuel only to the Ukrainian market, if import duties are introduced, as they would neutralize the price advantage of oil refineries from the Customs Union states, TNK-BP Commerce reported.

KIEV, Oct. 31 – The quality of the assets of Ukrainian banks that have ratings assigned by Fitch Ratings have stabilized, although it is still weak.

Fitch said that by the end of H1, some 50% of credits of banks with Fitch's ratings are potentially bad, including 20% of credits having on average a 90-day delinquency, while 30% of them are structured credits. At the end of 2010 the indicators were 21% and 36% respectively.

SIMFEROPOL, Oct. 31 - Businessman Dmytro Firtash said that he is not going to get involved in politics, which is why he has no desire to join the Party of Regions and stand for Verkhovna Rada.

KIEV, Oct. 31 – The Financial Action Task Force on Money Laundering (FATF) has removed Ukraine from its so-called "gray list,” Presidential Administration first deputy head Iryna Akymova announced at a news briefing.

KIEV, Oct. 29 – The National Bank of Ukraine has increased its forecast for Ukraine’s year-end balance of payments deficit, said Ihor Shumylo, a board member and executive director for economic issues at the NBU.

KIEV, Oct. 29 - The government injected about $1 billion into Naftogaz Ukrayiny, the national energy company, days before the company must make a massive payment to Gazprom for gas imported in October.

KIEV, Oct. 28 – Ukraine's total state (direct) and secured debt grew by 5.8%, or by $2.785 billion, in September to $51.09 billion, according to a posting on the Finance Ministry's Web site.

KIEV, Oct. 29 – The cost of building a nuclear fuel production plant in Ukraine for VVER-1000 reactors will be over $300 million, TVEL Vice President Vasily Konstantinov told Interfax-Ukraine.

KIEV, Oct. 29 – The share of bad credits in Ukrainian banks in 2010 continues growing, although at a slower pace than in 2009, reports Olha Ihnatieva, an analyst from Fitch Ratings.