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Ukraine's pressing financial needs, Mobile World Congress in Barcelona

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Ukraine's pressing financial needs, Mobile World Congress in Barcelona

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Ukraine may need up to 25 billion euros in external financing over the next two years. Kyiv says.

The sooner it gets that the better as Ukraine’s currency has fallen to a new low reflecting the political upheavals there.

Ukraine’s central bank had been making some efforts to support the hryvnya, but is running out of foreign currency reserves. The hryvnya lost around 20 percent of its value this month alone, while the country’s politicians are trying to secure foreign aid. Europe says it stands ready to help.

Meanwhile the eurozone economy is slowly doing better with the progress evidenced by the European Commission raising its growth forecast.

And on the technology front, we have news from the Mobile World Congress in Barcelona where Samsung unveiled its newest Galaxy offering and Nokia took the wraps of its first Android phone.

That is all in this edition of Business Weekly.