Daily monitor

Earlier in November, the Verhovna Rada (Ukraine’s Parliament) adopted the anti-crisis law and priority measures to be taken by the government in order to mitigate the possible negative consequences from the economy’s recession. The adopted legislation introduces changes to the Fixed Agricultural Tax (FAT), effectively abolishing restrictions on its validity until December 31, 2009. In addition, the law preserves the preferential taxation regime regarding the Value Added Tax (VAT) for agricultural producers.

The international holding company 'Group DF' has agreed to purchase over 50% of the shares in Nadra Bank, one of Ukraine's largest banks, the company's press release announces.

The National Committee of Statistics has announced that PPI fell 1.4% MoM in October after a 1.8% MoM drop in September. Therefore, PPI grew 32.1% YTD and 37.7% YoY.

Mostobud [MTBD UZ, BUY] has won four tenders in Romania for the expansion of a 4-lane section of the ‘South Bucharest’ bypass and for the rehabilitation of national roads at the ‘Vyrfule – Stey’ site. The total monetary value of the collective work for these projects is more than EUR 95 mln.

Mostobud [MTBD UZ, BUY] has revealed the core of its domestic bridge-building plans for the next few years, which are to focus on two bridges in the Kyiv Region and one in the city of Kremenchug. This information was revealed by Vladimir Prodivus, the Chairman of Mostobud’s Supervisory Board during the recent conference “Russia and the CIS: prosperity through partnership”.

The OJSC ‘Dniprooblenergo’ [DNON UZ, N/R] the largest regional electricity supply company in Ukraine, has announced that it is closing its investment program in relation to the financial crisis. Due to instability in the banking system, its funds in the Kyiv-based Prominvestbank have been blocked.

For the period July-September, Prykarpatoblenergo [PREN UZ, BUY] finished with a net profit of UAH 10.27 mln. In this period, this Ivano-Frankivsk regional company saw its net income drop by 9.16% (or UAH 12.05 mln) to UAH 119.51 mln, compared with the same period in 2007.

In the period July-September 2008, the Open Joint-Stock Company ‘Vinnitsaoblenergo’ [VIEN UZ, BUY] finished 3Q2008 with a net profit of UAH 5.245 mln. In this period, the company increased its net income by 33.13% (or UAH 37.06 mln) to UAH 148.93 mln, compared with the same period last year.

InBev, one of the leading global beer producers – second in terms of beer output in Russia and first on the Ukrainian beer market – issued an official press release on its financial results for 3Q08. Its revenues in volume terms declined 10.5% on the Russian market and 8.5% on the Ukrainian market.

Sumy Frunze Machine Building [SMASH UZ, N/R], one of largest European producers of equipment for the oil, gas, and chemical industries, plans to supply four gas pumping devices worth USD 65 mln to Russia’s natural gas monopoly Gazprom for use at the Griazovetskaya compressor station. The deal is worth USD 65 mln and is to be completed by July 2009, the contract for which was signed back in September.