Local Editor

Ukraine's embattled President Viktor Yanukovych returned to protest-hit Kiev on Saturday after holding crisis talks with his Russian counterpart and ally Vladimir Putin about a suspended Moscow bailout loan.
The chat late Friday on the sidelines of the opening ceremony of the Winter Olympic Games in Russia's Black Sea resort of Sochi came amid growing pressure from the opposition on Yanukovych to cede some of his broad powers and appoint a new pro-Western government.

Neither Russian nor Ukrainian officials disclosed the details of the two leaders' conversation except to say that it was brief and held at Sochi's Fisht stadium where the Games' opening ceremony was held.
"They had a conversation at the stadium," a Ukrainian administration spokesman said by telephone.

He further stated: "There was no official bilateral meeting. That was not a part of (the president's) program," the spokesman said.
Yanukovych had been expected to discuss with Putin the fate of a $15-billion Russian bailout whose delivery has been effectively frozen pending his decision on a new government.

The sustained protests that followed have since then played out as a struggle for the country's future between the West and Russia.
The Ukrainian leader has named his close ally Sergiy Arbuzov as acting prime minister and was expected to try and convince Moscow that the Kiev government was still committed to the terms of Putin's bailout deal.

Ukraine's economy is in urgent need of assistance amid sliding domestic production and dwindling foreign reserves that can barely afford foreign payments of about $10 billion this year.
The protracted crisis has seen Ukraine's borrowing costs spike and the currency lose nearly 10 percent of its value amid a rush by frightened consumers to cut their losses by stocking up on dollars and euros.

Source: News Agencies, Edited by website team