September 26th, 2009

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Fed prepares to inflation after the crisis

Saturday, September 26th, 2009

To avoid the shock of inflation in the period of economic recovery, the U.S. Federal Reserve (Fed) will hold a reverse repo transactions with money market funds.

 

Fed is concerned that the crisis program for filling the market liquidity situation in the revitalization of the economy could trigger inflation. Now the issue of withdrawal of liquidity from the financial system through reverse repo transactions with money market funds. National Bank will have the funds short-term loans secured by Treasury bonds and mortgage software tools with which he bought during the crisis in financial companies.

This issue is discussed in the strategy of the Fed to break the anti-crisis program to ensure that the right moment was an opportunity to raise your bid. On Wednesday, the Fed kept rates at zero for a long time, noting signs of recovery in the housing market and some stabilization. National Bank predicts pro-growth and did not seem to wait for the second round of recession. Nevertheless, the Fed rate will not rise before the second half of 2010, experts believe.

Fed will minimize crisis program gradually. If it had earlier promised to use all available tools, now - a variety of tools to enhance the revival (the economy). Click to continue »

IPF urgently, immediately … Sibur?

Sixth attempt privatization of the Odessa port plant (IPF), by definition, could not be boring …

Saturday, September 26th, 2009

sixth attempt of privatization of the Odessa port plant (IPF), by definition, could not be boring. Too large enterprise is at stake and too much government for elections need money.

plant - not only the second in the Ukrainian producer of ammonia and urea, but also owns a terminal for transshipment of liquefied ammonia to the court. Here he is a monopolist.

terminal is extremely interesting as Russia's parties (he completes international ammonia from Togliatti), and our chemists. The share of IPF accounts for half of Ukrainian exports and 20% ammonia - urea.

And yet such frank passions did not expect. The country already accustomed to public neglect of the Government of President, and extremely flexible attitude of our authorities to the law, in general, also not a secret ... And competition for a particular party - not news. But all together and in a few days looks pretty wildly.

For a start it turned out that the 13 applicants who applied to the Antimonopoly Committee of permissions for the contest itself applied for all three. This Russia OOO Nitrogen-Service, the Ukrainian OOO Nortima (Igor Kolomoisky) and OOO Frunze Flora (Konstantin Grigorishin). Funny, but the last specialization - the cultivation and sale of vegetables, houseplants, ornamental horticulture, as well as the provision of gardening beds.

Now she is to participate in the contest, where the starting price of the object - 4 billion UAH., and within five years, the investor should invest 1,3 billion UAH. in the development of production plus 92 million UAH. - In environmental programs. Under the latter may fail and landscaping.

According to unofficial information, the Russians of Nitrogen-Service almost immediately made a pledge of 400 million UAH. (10% of the starting price).

the other hand, does not appear Expected favorite - an international consortium specifically created to participate in the privatization of the Odessa port plant. It includes Yara International (Norway), a world leader in the production of fertilizers, Polish Kulczyk Holding SA and the Libyan Libyan Investment Authority. But to enter the Ukrainian market, he never became ...

But immediately there were some lawsuits. Some, as promised, filed Valentina Semeniuk-Samsonenko, others - Cherkassy Azot Alexander Yaroslavsky and DneprAzot, friendly group Privat. As a result of Kyiv District Administrative Court suspended the sale tender for 99.6% of the shares.

lawyers DneprAzot found just two clues. The plant was not carried out a qualitative environmental assessment (adoption of SPF that it be heldfor eight days, looks really funny). But the main thing - tolerance Nitrogen-Service is contrary to the privatization legislation of Ukraine.

According to paragraph 3 of Article 8 of the Law of Ukraine On privatization of state property, the buyers of privatization objects can not be legal persons, whose property share of state ownership exceeds 25%.

Meanwhile, nitrogen-Service - a subsidiary of Sibur Holding, which is owned by Gazprom subsidiary Gazprombank and its pension fund Gazfond.

In

Russia's gas monopoly controlling the public is. So in general, the authorized capital of Sibur-Holding and controlled by him Nitrogen-Service share of government property, estimated to exceed 30%.

claim is serious. As noted in the statement of claim, the fact of a possible privatization sales of state property of Ukraine in favor of the structure, in the authorized capital of which a substantial proportion of government property, contrary to the logic of the process of denationalization of property. Moreover, as a foreign state, it is usually in this case is attached, and an intergovernmental agreement. Or is it still there, but ... on a personal level?

By the way, filed a lawsuit in court Cherkassy Azot later he withdrew due zapolitizirovannosti issue. While Yaroslavsky said that he is still interested in participating in the competition for the privatization of IPF.

Even more interesting was the reaction of the State Property Fund. Instead of the expected explanation and defense of his position ... he tried to hide.

It looked very funny. Click to continue »

Boeing will compete again with Airbus for the contract Pentagon

Saturday, September 26th, 2009

Pentagon intends to hold another tender for the supply air tankers for the U.S. Air Force. Issue price of $ 40 billion in principal competitors for the contract are Boeing and Northrop Grumman, in alliance with Airbus (the European division aviakorporatsii EADS). About this newspaper Wall Street Journal.

The results of the tender the U.S. defense establishment will buy 179 tankers over 15 years. This first batch of 64 aircraft will be sold at a fixed price.

is noteworthy that the tender for the Pentagon is under the scrutiny of political forces of the United States. Recall that in 2008 the Pentagon's decision to give $ 40 billion contract to build tanker planes concern EADS. This immediately drewstrong protests in the political circles of America. Particularly indignant Senators and Congressmen representing the states of Washington and Kansas, where the main business aircraft manufacturer Boeing. Click to continue »