Daily monitor

According to an announcement from the IMF, the Fund has reviewed its macroeconomic forecasts for Ukraine.

The National Communications Regulation Commission (NCRC) forbids Ukraine’s wireless operators from using zero mobile tariffs till September 1. In additional, the NCRC requires wireless operators to provide cost of production information about the mobile tariff calculation for the end user.

As of July 7, Ukraine harvested 17.6 mln ha or 13.6% of its expected crop. The crop yield averaged 2.5 mt per ha. Ukrainian farmers harvested 1.2 mln mt of wheat (yielded at 2.51 mt per ha), 3.1 mln mt of barley (yielded at 2.6 mt per ha), and 0.24 mln mt of rapeseeds (yielded at 1.3 mt per ha).

Ukrsibbank has paid off a USD 75 mln loan taken from a pool of Middle East and Asia Pacific banks. In a news item on its web site, the bank emphasized the fact that the remaining public debt for 2009 amounts to only USD 80 mln, which is not expected to become a problem for the bank to repay.

Kommersant-Ukraine reported that one of the two strategic shareholders of Zaporizhstal [ZPST UZ, U/R], the so-called Zakhid-Reserv Group, aims to consolidate 96.6% of the company. Reportedly, Zakhid-Reserv will buy out the Midland Group’s stake using a Swiss company named Airol Beteiligungen AG, which has recently obtained a permission to consolidate more than 50% of Zaporizhstal.

In June 2009, the Ukrainian car market recorded a 78% drop compared to the same period in 2008, according to Delo newspaper. Car production in June was below the level of Mays’s output by 13% with output at 11.2 thsd units.

Lvivoblenergo's [LVON UZ, BUY] CEO spoke about the company's CapEx related to the preparations for the EURO 2012 football championship.

According to Interfax agency, Ukrainian businessman Sergei Tihipko is going to sell a part of his assets, including Kryukiv Railcar [KVBZ UZ, U/R] and TAS insurance company. Tihipko has plans to sell the selected assets quickly and use the cash to fund his bid in the upcoming presidential election in Jan 2010.

According to RBC agency, Prime Minister Putin signed a decree to increase RZD’s statutory capital by RUB 11.3 bln. About RUB 3 bln. (USD 96 mln.) of the new capital will be spent by RZD on passenger cars orders from Tver Wagon Plant, which is owned by Transmashholding and (TMH) where RZD controls 25%.

According to a note from the National Bank of Ukraine, foreign reserves dropped USD 448.7 mln (1.6% MoM) in June and have reached USD 27.34 bln. The YtD drop, therefore, has reached 13.3% (USD 4.2 bln).