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16.04.2008
Baloha Calls For Resignation Of Government Ministers Responsible For Economy
The Presidential Secretariat's head Viktor Baloha has called on the government ministers responsible for the national economy to resign because of their low professional qualification.
The presidential press service announced this in a statement.
"The ministers that have failed to cope with the negative trends, failed to propose quick, market instruments for responding should leave their posts," the press service quoted Baloha as saying.
Baloha believes that Prime Minister Yulia Tymoshenko's Cabinet of Ministers bears political responsibility for the economic problems that the country encountered in the first quarter of 2008.
more...
14.04.2008
Tax Administration Urging Trade Nets To Follow Food Price Stabilization Agreements With Cabinet
The State Tax Administration of Ukraine is calling on the major trade networks to abide by their early April agreement with the Cabinet of Ministers on stabilization of food prices.
Ukrainian News learned this from the tax administration press service, which quoted administration head Serhii Buriak as saying during a meeting with representatives of the major trade nets.
"The outcome of pricing policy monitoring in almost all regions of Ukraine uncovered the facts of excess of the agreed 10-percent markup on major foodstuffs. Buriak called on the audience for a joint effort to guarantee proper level of cooperation so that the memorandum would not be formal," the press release says.
Taking part in the meeting, beside the tax administration head, were also his first deputy Vadym Kaizerman, his deputy Natalia Ruban, head of the State Price Control Inspectorate Natalia Nemodruk, as well as representatives of retail trade networks (Fozzy Group, Furshet, Velyka Kyshenia, Metro Cash&Carry-Ukraine, EKO-Market, Okay, Billa).
Trade net representatives proposed drawing local trade networks and producers to participation in the memo.
more...
10.04.2008
Experts Say Starting Price Of UAH 12 Billion For 67.79% Of Ukrtelecom Is Too Low
Experts say that the starting price of UAH 12 billion, which was set by the Cabinet of Ministers, for 67.79% of the shares in Ukraine's major telecommunications company Ukrtelecom is understated.
"Naturally, understated. But the problem is over channels, access to common use nets. While selling Ukrtelecom in this form we are dooming the market to specific relations with a monopolist, the more so it is necessary to understand that, in principle, we have just a few serious bidders: MTS (Ukrainian Mobile Communications), Alfa Group, SCM (System Capital Management, Donetsk)," says Yaroslav Pavlovskyi, deputy director of Information Society Institute.
In the words of Internet Association of Ukraine head Tetiana Popova, Ukrtelecom has in all 18,726.248 million shares, which by April 8 were quoted in PFTS at UAH 0.9383 each, so the starting price was set according to the current quotations.
"This is not right, to my mind, as its capitalization is minimum 3.5 times more," Popova said.
She noted that evaluation of such an enterprise proceeds on the basis on several terms, including with regard for western analogs, and the real cost of the company from the viewpoint of stock market is about UAH 50 billion.
"From the viewpoint of capitalization, market share and influence on this market, Ukrtelecom's starting price should be minimum two- or three-fold higher even without channels, or it would be even more," Popova said.
more...
09.04.2008
Ukraine Medications Market Not Enough Transparent, Public Health Institute Says
The Open Institute of Public Health says that the level of Ukraine's medications market transparency is rather low.
The Institute expressed this opinion in the results of a study, which were presented during a press conference at the Ukrainian News press center.
According to the findings, the problems of the Ukrainian pharmaceutical market are: the system of tender purchases, corrupt patterns in the sale of medications, non-ethical marketing of medications.
Under the study outcome, in the past six years, costs on health protection in Ukraine rose four fold, the use of medications grew three fold, and mortality rose by 2% in absolute count.
Referring to the RMBC Ukraine company, the Institute says that last year retail sales accounted for 88% of Ukraine's pharmaceutical market, and hospital sales for 12%; prescribed medications accounted for 59% and non-prescribed for 41% of the sales; innovational medications made 12%, and generic medications (produced under the developer's license) 88% of the sales.
more...
03.04.2008
Ukraine International Airlines Planning To Lease Four Boeing 737-800 Passenger Airplanes By 2011
Ukraine International Airlines company intends to lease four Boeing 737-800 passenger airplanes in 2009-2010.
The company's President Yurii Miroshnykov announced this at a press conference.
"We [Ukraine International Airlines] are starting a program of fleet renovation, and next year [2009] our fleet will be renewed by two new Boeing 737-800 aircrafts, and in 2010 by another two new Boeing 737-800 aircrafts," he said.
In such a way, the company plans to receive two of the airplanes in spring 2009 and two in 2010.
The company has no intention to buy airplanes in 2008.
As Ukrainian News earlier reported, Ukraine International Airlines intends to put into operation a Boeing 737-300 cargo aircraft in May.
In 2007, Ukraine International Airlines increased transportation of passengers by 41.45%, or by 0.422 million on 2006, to 1.44 million.
more...
02.04.2008
Khersonhaz Appoints Tsulukiani As Member Of Supervisory Board In Place Of Riashentsev
Shareholders of the Khersonhaz gas distribution company on March 28 dismissed Volodymyr Riashentsev as a member of the supervisory board and appointed Oleh Tsulukiani to the post.
Ukrainian News learned this from a statement by the company, the wording of which was made available to the agency.
Tsulukiani represents at the supervisory board an owner of 14.49% of the shares of Khersonhaz - Spivdruzhnist closed joint stock company (Kherson).
Riashentsev has been a member of the supervisory board since 2003. He had been the prosecutor of Kherson region.
Riashentsev owns 0.05% of the shares of the company.
The supervisory board of the company comprises nine members.
more...
27.03.2008
Bankers Advise To Keep Money In Hryvnias
Bankers advise to keep money in hryvnias.
Erik Naiman, who heads the department for issuance of financial instruments at Ukrsotsbank, advises to keep money only in national currency.
"For the people, who do not deal with currency speculations, it is better to keep their savings in hryvnias," he said.
Naiman also said that nothing will affect the stability of the hryvnia in the next two or three years, or even five, and that interest rates on hryvnia deposits are higher than those in dollars and euros.
His outlook is supported by deputy chairman of the management board of Finance and Credit Bank Ihor Lvov, who recommends keeping money in hryvnias and in gold.
"There is a principle: don't keep in one basket. I would recommend keeping savings in national currency and in gold. The most stable currency that has risen three times over the past few years is gold," he said.
more...
26.03.2008
Naftohaz Ukrainy, Haz Ukrainy Plan To Limit Gas Supplies To Debtor Heating Enterprises
NJSC Naftohaz Ukrainy and its subsidiary Haz Ukrainy are planning to limit supplies of natural gas to municipal heating enterprise with debts.
This follows from the press service of Haz Ukrainy, a copy of which was made available to Ukrainian News.
"In order to bring natural gas consumption by communal heating enterprises to the level of confirmed resources, today working groups of Naftohaz Ukrainy and Haz Ukrainy have left for regions," the statement reads.
According to Haz Ukrainy, as of March 24, among the company's biggest debtors (for the gas consumed since October 1, 2007) were heat-supplying enterprises in Dnipropetrovsk region (debt of UAH 392.8 million, settlement level of 45%), Donetsk region (UAH 389.1 million, 54%), Kharkiv region (UAH 320.5 million, 50%), Luhansk region (UAH 171.3 million, 49%), Zaporizhia region (UAH 133.7 million, 62%), Lviv region (UAH 110 million, 54%) and other regions.
Since October 1, 2007, the enterprises have accumulated a total debt of UAH 2.358 billion, with the settlement level being 58%.
Apart from this, Haz Ukrainy says several communal heating enterprises are tending to accumulate even more debts.
more...
25.03.2008
Yatseniuk, WB Vice President Katzu Discuss Financial Economic Situation In Ukraine In View Of Crisis At Global Stock Markets
Parliament Speaker Arsenii Yatseniuk and World Bank Regional Vice President for Europe and Central Asia Shigeo Katzu have discussed the situation at global stock markets, and also exchanged opinions on financial economic state of Ukraine, particularly in view of avoiding corresponding risks for the country.
The Verkhovna Rada press service made this statement.
The WB Vice President expressed his opinion concerning the necessity to hold a special meeting for European and Central Asian countries in near future, taking into consideration the crisis processes in world economics.
Speaking about Ukraine, Katzu turned attention at the need to work out a long-term policy with the purpose of preventing inflation growth and current balance deficit, optimizing state budget expenses, and improving state investment policy.
more...
24.03.2008
Energy Ministry Initiates Check Into Ukrnafta’s Compliance With Antimonopoly Law
The Ministry of Fuel and Energy is initiating a check by regulatory agencies into the compliance of Ukraine’s largest oil mining company Ukrnafta with the antimonopoly law.
Ukrainian News learned this from the report of the ministry.
Besides it, the ministry wants Sintoza, Optima and Avias trading companies to be checked.
«The minister [of Fuel and Energy, Yurii Prodan] has asked the Antimonopoly Committee, the State Tax Inspectorate and the State Price Control Inspectorate to check operations of these companies,» the report reads.
As the minister put it, these companies have set unjustified fuel prices and abuse their monopoly position on the retail petroleum product market in a number of regions of Ukraine.
Prodan expressed concern about the synchronous suspension of sales at gasoline filling stations by these companies in March, which, the minister believes, gives reasons to suspect them of collusion.
The minister added that sale of petroleum products by Ukrnafta at prices much higher than the world wholesale prices was one of the factors that influenced the fuel price rise in Ukraine.
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