September 19th, 2009

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In Rodovid Bank to resume a moratorium on payments

Saturday, September 19th, 2009

At the time a decision on the transfer of deposits Ukrprombank in Rodovid Bank renewed a moratorium on satisfaction of creditors' claims for a month. Told the director of the Department of Banking Supervision of the National Bank of Ukraine Vasily Pasechnik.

He said that the moratorium needed to avoid the transfer of cases depositors in Rodovid conflicts such as that which occurred in the bank Kiev .

At the same time, the final decision on which of the banks should be the resort Ukrprombank - Rodovid or Oschadbank - NBU and Finance Ministry officials were to be adopted at Friday's meeting, said interim administrator Rodovid Bank Sergei Shcherbina.

Most likely, we will become the bank, which will be translated part Ukrprombank obligations to depositors, - said Shcherbina. According to him, the size of the deposits being transferred in Rodovid , will be subject to the live assets. Most likely, it will be bank branch - about 100 pieces, - he said.

This Shcherbina confirmed that ensure the transfer offices Ukrprombank before its liquidation RODOVID will be Andrew Kiriyenko. The latter, according to the newspaper The Mirror of the Week, co-owner Rodovid Bank Denis Gorbunenko managed to lobby as a former deputy chairman as a candidate for the post of interim administrator Rodovid Bank with support from the Deputy Minister of Fuel and Energy Igor Kiryushin. Click to continue »

OPP: A new round of conflict

winner in this battle will be entitled at its discretion to decide the fate of OJSC Odessa Portside Plant …

Saturday, September 19th, 2009

President and Prime Minister of Ukraine came together in the fight for the Odessa Port Factory. The winner in this battle will be entitled at its discretion to decide the fate of OJSC Odessa Portside Plant (OPP).

history of privatization of the Odessa port plant already reeks of mothballs. Since then, in 1994, was the first attempt to sell the factory, it has been 15 years and all these years for IPF can not find the owner. And in 2005, the privatization of the Odessa port began to play with new colors.

After Viktor Yushchenko and Yulia Tymoshenko opened up in the hands of the orange stage and went with it, they are from lyubih друзіÐ² turned into the evil friends. And the situation with IPF - odd that illustration. When the Cabinet in 2005, instructed the State Property Fund to tender for the sale of the Odessa port plant, suddenly in October of that year, Viktor Yushchenko vetoed that and then a month later, in November, to demand from the Verkhovna Rada of IPF include the list of objects to be privatized in 2007 year. Parliament of the bond requirement fulfilled, but Yushchenko again surprised - at the end of December 2006 once again vetoed the law.

Parliamentarians again amended the president in the new law on the list of objects to be privatized in 2007. A little over six months, and in August, the State Property Fund has announced a competition for the sale of 99.567% of IPF. By the time concessional employees of the plant bought 0,433% shares of the plant. And in October, Yushchenko again reversed the privatization. Already last year the government, which once made the IPF in the list of objects subject to privatization. During the year 2008 at the Odessa Port Factory announced the contest three times and each time it forbade Viktor Yushchenko.

And in 2009, the situation has once again repeated. Deja vu: Autumn again - and again government's attempt to tender for the sale of IPF has faced a ban of the president. September 17 was issued a presidential decree № 747/2009 On the suspension of the Cabinet of Ministers from 03 декабря 2008 № 1517-p. This provision was approved list of major projects planned for privatization in 2009. At this time the president has even asked for help in the Constitutional Court of Ukraine.

Judging by the sharp statement of Prime Minister Yulia Tymoshenko is no longer going to choose between the words sell or ban. Both Yushchenko and Tymoshenko during this time they decided to stand up to the end and everyone is ready in the phrase SCR can not sell to ban put a comma in its sole discretion, and everyone thinks it is a comma is correct.

If you put the background policies, and the first economy, we can come to the most obvious answer - the privatization of the Odessa port plant should be postponed until better times. At least, it will benefit Ukraine, and not politics. First, we should not forget that in the country, as the world's raging global financial crisis, which has made adjustments in the economy. Today, investors are not willing to pay for the enterprise, even for highly liquid, and is kakimm OJSC Odessa Portside Plant , a lot of money. If, before the crisis in 2008, the starting price of shares of Odessa port was $ 600 million, today it is about 450 million dollars (4 billion hryvnia). Therefore, to sell at reduced prices IPF in order to at least some money came in the budget, it would be unwise on the part of the country's leadership. Click to continue »

Overview of the oil market for 16.09.09

Saturday, September 19th, 2009

Dynamics

Quotes of the oil market on Wednesday, Sept. 16 is rapidly increased in price, after crude oil inventories in the U.S. fell more steeply than expected, and also because of the continuing decline of the dollar in the foreign exchange market, FOREX.

At the New York Stock Exchange NYMEH the October futures price of U.S. light crude rose by 1.58 and its price, therefore, amounted to 72.51 dollar per barrel.

The exchange ICE in London, Brent oil price rose 1.81 to 71.67 dollars per barrel.

Causes

On Wednesday, September 16 quotes on the market of black gold substantially increased in price by far exceeded expectations of analysts to reduce stockpiles of crude oil in the U.S. over the past week, as well as on the background of a continuing fall in the dollar to a basket of world currencies in the market FOREX. For example, crude oil inventories in the United States during the week of 5-11 September declined by 4.729 million barrels, gasoline inventories rose by 0.547 million barrels, distillate stocks, which include diesel and heating oil, rose by 2.237 million barrels of refining capacity load factor amounted to 86.94%. Click to continue »

Ministry of Finance: The IMF took the arguments of Ukraine on the realism of a profitable part of the draft state budget-2010

Saturday, September 19th, 2009

International Monetary Fund (IMF) took the arguments of the Ukrainian government on realistic revenue side project of the state budget for 2010, said Acting Minister of Finance Igor Umansky.

We have given arguments that, in my opinion, persuaded representatives (IMF - Ed.) realism in our calculations, - he said on air 5 channel on Monday.

According to him, some differences of the Government and the IMF had estimated revenue from import duties and value added tax.

Head of the Finance Ministry also said that the 2010 state budget deficit at 4% of GDP agreed with the IMF. For comparison, he noted that Russia's state budget deficit in 2010 is 7,5% of GDP.

As reported, 14 September the Cabinet approved the draft state budget for 2010, which provides that its revenues in sume 285 billion UAH, charges - on the level of 324 billion UAH. The deficit budget approved at the level of 3,97% of GDP or 46.7 billion UAH.

Regarding social policy, I. Umansky said that next year the Government set up only to protect the population from rising prices. Click to continue »

Futures on the RTS index rose 4.73% to 113 695 points

Saturday, September 19th, 2009

Futures on the RTS index rose 4,73%

majority of contracts for Russia's stocks of companies and banks were closed in the certainty plus. All investors have entered into a 281 thousand transactions totaling approximately $ 1 825 million Number of open positions in futures has increased by 191 586 to 3 900 936 contracts, according to Options 3 826 532 contracts. Open interest in futures on the RTS index was 389 608 contracts himself futures rose 4.73% to 113 695 points. The contract on RTS Index - Oil & Gas have risen in price on 8,39% to 155.

contract for preferred shares of OAO Sberbank of Russia has become a leader in trading today, typing with 13,27%. The contract on ordinary shares of JSC Sberbank of Russia has grown up on 5,78%. Among the contracts closed in positive territory for more than 5% as a contract on ordinary shares of OJSC Polyus Gold and a contract for preferred shares of OAO Transneft. Sure, we also looked futures and other blue chips. In the oil and gas sector increased by 2,5% - 5,16%, in metallurgical 1,79% - 5,28%, contracts, shares of telecommunications companies rose by 1,49% - 3,34%.

Mercantile section a contract for refined gold bullion struck the value in 1000 points and closed at a price of $ 1 006. Sharply went up and the value of contracts for oil BRENT: the September futures rose by 2.91% to $ 69.57. The September silver increased in price on 1,77% to $ 16.65.

The currency section of the contract for the dollar-ruble continued to fall and closed at a value of 31 271. Contracts courses euro-dollar and euro-ruble rose by 1,16% and 0,31% respectively.

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Hryvnia marks in nine

Saturday, September 19th, 2009

Statements by representatives of the IMF on a possible cease cooperation with our country caused panic among foreign investors, who have stepped up the withdrawal of their capital

At the end of yesterday, with a weighted average rate on the interbank market at 8.1472 UAH. /$ 1, banks with foreign capital to buy foreign currency to 8,62-8,68 UAH. /$ 1.

explained Acting head NBU Anatoly Shapovalov, stir in the market creates a number of banks with foreign capital to fill the orders of their clients. Apparently, several foreign companies have decided to withdraw their money and serve their banks have been instructed to buy the currency at any price - the official said. Thus most of the transactions in the market held on a mark 8,14 grn. /$ 1.

We are very clearly defined its position - banks operating at a rate above average, did not receive the support of the NBU in the form of intervention. it also can not expect banks that violate the limit of foreign exchange position, - said Shapovalov.

According to him, pushing the rate up devaluation expectations and panic. And the economic justification for the growth rate there. Balance of payments deficit, which results in July exceeded $ 8 billion, is fully covered by IMF credit, and public demand for foreign currency reserves of the NBU extinguishes.

Anatoly Shapovalov has promised that the regulator would take measures to compression of liquidity, to remove the excitement from the currency interbank market. We have clearly identified their expectations of exchange rate at the level 7,98-8,14 grn. /$ 1 and believe that to this indicator and should return the value of U.S. Click to continue »