Daily monitor

The Kharkiv-based Turboatom [TATM UZ, HOLD] – the largest turbine manufacturer in Ukraine – has agreed with the Energy Ministry of Tajikistan on the supply of six turbines and a hydraulic lock to the Nurek hydroelectric power station (Tajikistan) during the period 2009-2012. The President of Tajikistan has instructed the Energy Ministry to sign the relevant agreement by December 31.

The National Bank of Ukraine (NBU) has cancelled the anti-crisis resolution No. 319 of October 11, 2008, which was about additional measures on the activities of banks and declared a moratorium on the early withdrawal of deposits, as well as introducing not so tough limitations. Its respective decision is stipulated in bank resolution No. 413 of December 4, 2008, which took effect upon being signed.

National statistics indicate that CPI in Ukraine has increased 1.5% MoM, thus reaching 19.8% YTD and 25.5% YoY in January-November 2008.

The National Bank of Ukraine (NBU) has changed its requirement of banks for the daily allocation of funds of obligatory reserves to a correspondent account in the central bank, and its requirement on the formation of reserves using funds raised in the national and foreign currency.

The UkrAVTO Corporation [AVTO UZ, N/R] – Ukraine's biggest car-maker and dealer, which is also known as the Ukrainian Automobile Association – has introduced a new leasing program for customers, through which one can buy a car paying 4.99% per annum in hryvnia and independent of involvement of any banking institutions. This information was revealed by the ‘proUA’ press service.

President Viktor Yuschenko has cancelled the Cabinet of Ministers Resolution #955 from November 17 titled “About measures for stabilizing the prices of pharmaceuticals”.

According to an official press release issued by Ukrros, the government-owned UkrExIm bank opened a line of credit for UAH 65 mln at 22.75% annual interest rate for the Orzhytskiy Sugar Refinery that was recently acquired by Ukrros. The loan agreement was signed November 21, 2008 and is due to be repaid on August 31, 2009. The received funds will be directed towards the further development of the company.

The National Bank of Ukraine (NBU) has reported that the population increased its net purchases of currency in November by USD 1.4 bln, compared to October.

The National Bank of Ukraine (NBU) has reported that the foreign reserves increased 2.6% or by USD 819 mln in November 2008, therefore reaching USD 32 743 mln.

In November, Yasynivka Coke [YASK UZ, U/R] produced 81 thsd mt of 6%-humidity gross coke, 10% less than in October and 37% lower than the average monthly 11M08 level of 129 thsd mt, according to Interfax-Ukraine. The total 11M08 production volume of 1.42 mln mt is down 10% YoY.