Daily monitor

Ukraine’s Cabinet of Ministers announced that it is transferring UAH 50 mln (USD 10.3 mln) to the Ukrainian Oschadbank, a successor of the Soviet Sberbank, to reimburse the lost bank deposits to those persons who held deposits in the former Sberbank.

The National Bank of Ukraine (NBU) announced that Ukraine’s monetary base increased in August 2008 3.2% MoM (19.1% YTD), thus reaching UAH 169 bln (USD 34.8 bln), while M3 grew 1.6% MoM (19.8% YTD) and reached UAH 474.7 bln (USD 97.9 bln).

The Government of Ukraine has drafted a bill for the Rada (parliament), according to which beer excise duty will be increased 58% to USD 0.1 per ltr in two stages.

According to Reuters, the world could possibly face a sugar deficit in the 2008/09 marketing year, which would amount to 3.3 mln mt versus profits of 9.4 mln mt in 2007/08 marketing year.

The Ukrainian parliament approved a new preliminary draft law that obliges electricity distribution companies (oblenergos) to continue supplying electricity for public transport at low subsidized tariffs of USD 41 per MWh while the wholesale price in September reached USD 76 per MWh.

Metinvest B.V., a member of the Metinvest Group, was assigned a Ba3 corporate family rating with a positive outlook by Moody’s.

The 8M08 results for car production of the Bogdan Automobile Plant [LUAZ UZ, BUY] demonstrate 93.5% growth YoY. In August the company assembled 11,064 vehicles, amongst which were 2,773 KIAs, 5,334 Hyundai, and 2,957 VAZ cars.

The Interpipe Nyzhnyodniprovsk Pipe-Rolling Plant [NITR UZ, N/R] produced 49.4 thsd mt of pipes in August, down 6% MoM and 4% from the 7M08 monthly average. The 8M08 output of 408 thsd mt is up 1% YoY.

Khartsyzk Pipes & Tubes [HRTR UZ, N/R] produced 30.5 thsd mt of pipes in August, down 10% MoM but 26% higher than the 7M08 monthly average of 24.2 thsd mt. For 8M08 the output is 196 thsd mt, down 49% YoY.

The Dnipropetrovsk Pipes Plant [DTRZ UZ, N/R] produced 6.9 thsd mt of pipes in August, down 53% MoM and 52% from the 7M08 monthly average. The 8M08 output of 107 thsd mt is down 23% YoY.