Daily monitor

Ukzernoprom [4GW1 GR, N/R], a Ukrainian agricultural holding, has completed its winter sowing campaign for the 2009/10 marketing year.

The holding company AvtoKrAZ [KRAZ UZ, N/R] plans to reduce approximately 10% of its current staff. However, despite this new development, the company’s press service has also announced that the situation at the plant remains stable, and that AvtoKrAZ plans to maintain its production levels for this year at results that are not lower than the company achieved in 2007.

Ukraine’s Cabinet of Ministers has asked the National Bank of Ukraine to provide credit to pharmaceutical wholesalers through loans from two state-owned banks – Ukreksimbank and Oshadbank.

According to Metal Courier, Bagliy Coke [BKOK UZ, U/R] had, on October 13, put its coke battery No. 7-bis into hot idling mode. Metal Courier reports that the poor demand was the reason for the decision.

The Metinvest Group got a formal approval for its plan to construct a coal transloading terminal in Sevastopol. The approval came from Ukrinvestexpertise, a state enterprise charged with evaluating various aspects of construction and investment procedures, including ecological and safety.

On October 21, 5.7 thsd mt of crude oil were sold at Resources Auction 122, which took place on the floor of the Ukrainian Interbank Currency Exchange.

In October, Alchevsk ISW [ALMK UZ, U/R] performed trials on its brand new converter No. 1, but decided to shut it down due to the poor situation on steel markets.

On the tail of a recent downgrade by S&P of 3Ukrainian banks, Tuesday brought upsetting news to the country’s financial sector, as both the Fitch international rating service and Moody’s Investors Service downwardly adjusted their outlook on Ukraine.

Obolon, one of the top three breweries in Ukraine, is going to reconsider its strategic plans for 2009. According to Interfax, the company is going to finish the investments projects it commenced in 2008.

Ukrtelecom [UTEL UZ, U/R] has announced its plans to establish a 3G network covering the entire territory of Ukraine.