Daily monitor

A new brand - Vega - was presented on the Ukrainian telecommunications market on October 15, 2008.

The Council of the National Bank of Ukraine (NBU) has called for the nationalization of the Kyiv-based Prominvestbank (PIB).

Prime Minister Yulia Tymoshenko has asked the State Prosecutor’s office to investigate unreasonable prices increases in the wholesale pharmaceutical sector.

Things are on track with respect to the technical upgrading of the Donetsk-based Kramatorsk “Pushka” Cement Plant [KRCS UZ, BUY] and the JSC Balcem (Kharkov Region).

The European Bank of Reconstruction and Development (EBRD) has bought a 17.5% share in Shostka Milk [SHMK UZ, N/R].

The National Electricity Regulatory Commission of Ukraine (NERC) has confirmed retail electricity tariff rates for energy-supply companies for October 2008.

The Open Joint-Stock Company Kyivenergo [KIEN UZ, BUY] reported net losses of UAH 158 mln for the period January to August 2008.

The merchandise balance deficit in Ukraine for January-August is USD 12.5 bln; USD 1.4 bln higher than in January-July and USD 6.5 bln times higher than for the same period in 2007.

Sumy Frunze [SMASH UZ, N/R], one of largest European producers of equipment for the oil and gas and the chemical industries, has delivered compressor equipment and power units to the company Surgutneftegaz (Russia), as part of a deal valued at USD 50 mln.

Raiffeisen Zentralbank Osterreich AG has provided a US 180 mln term loan to Ukraine’s Open Joint Stock Company "Raiffeisen Bank Aval" [BAVL UZ, U/R]. The agreement was signed on October 13, 2008 and will mature on December 31, 2009 with the option of being extended until December 31, 2010.