Growth of production in agriculture in Ukraine in 2009 amounted to 0,1%

By admin | Published: February 1, 2010

Following in 2009, agriculture is the economic activity, which was recorded output growth of 0.1%. Told the Minister of Economy Bohdan Danylyshyn, the press service of the Ministry. This indicator is made against a background of extremely high comparative statistical base in 2008, when the growth rate was 17,1%.

Despite the economic crisis, according to the 2009 crop has been an increase in the volume of production of major crops as compared with the pre-crisis period. Thus, the gross grain harvest amounted to 46,0 million tons (against 33.3 million tonnes on average for 2000-2007.), Sunflower - 6.4 million tons (against 3.8 million tons), potatoes - 19,7 million tons (against 18.9 million tons), vegetables - 8.3 million tons (against 6.7 million tons), fruits and berries - 1.6 million tons (against 1.4 million tonnes).

However, according to preliminary data in July-November 2009/2010 marketing year, Ukraine took the Third place in the world in the export of grain and leguminous crops (11.3 million tonnes against 10.9 million tonnes in July-November 2008/2009 marketing year). In the structure of exports, along with traditional markets (Egypt, Iran, Syria, Turkey, Bangladesh and others), there is diversification of exports in developed countries (Japan, South Korea, Spain, Israel and others). Read More »

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ECB: The threat of a recession in the euro area re unlikely

By admin | Published: February 1, 2010

euro area should not fear a repetition of recession, but we have to beware of further strengthening of the euro. This view was voiced by board member of the European Central Bank (ECB) Ewald Nowotny.

regulator for the past eight months, keeps key interest rate at historic lows of 1% per annum, while continuing to assert that the euro-zone economy after the financial crisis to be a hard way, reports Reuters.

In turn, Nowotny said with optimism about the economic recovery which has emerged in the area of walking single European currency. “I think it unlikely threat to re-recession. We have entered a period of slow but sure economic recovery. If such a threat existed, and before it subsided,” - said the ECB Governing Council member.

He also tried to allay fears expressed by France, that the strengthening euro could affect economic growth in the euro zone. Nevertheless Nowotny warned that the growth rate of uniform European currency should notacquire the character of a sustainable trend. “At the moment such a problem does not exist. Not desirable, only long-term strengthening of the euro against major currencies,” - he stressed.

According to him, given the ECB”s growth forecast for euro-zone economy in 0,1-1,5% in 2010 may be reviewed at the direction of some improvement. Nowotny, who also heads the Bank of Austria, believes that the regulator should continue the gradual emergence of anti-crisis mode.

Recall, 3 December 2009 the ECB left its key interest rate refinance without changes - at historically low levels of 1%. “The Council of the ECB expects that the eurozone economy will grow at a moderate pace in 2010, although recovery is likely to be uneven, and the forecast for growth remains very uncertain,” - said while European Central Bank President Jean-Claude Trichet, commenting on the decision the rate. Read More »

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Poland may forgive the debt to Gazprom for gas transit

By admin | Published: January 31, 2010

Poland, more than a year are not receiving a quarter of gas imports may forgive its main gas supplier - Gazprom”s debt for gas transit to Germany in exchange for discounts on the purchased gas Poles.

According to an UNIAN correspondent in Poland, this edition of Rzeczpospolita said Deputy Prime Minister of Poland Waldemar Pawlak, who in December last year blocked approval of the Polish-Russian gas agreements.

“In the current situation is worth considering that in a discussion of debt to include the topic of future payments. may hold in one place, we might receive, for example, receive a discount in the price for future delivery,” - he said.

“Even if it was a 1% discount, then it is passed on to millions of dollars, which would align the old debt for the years 2006-2008 (for gas transit through Poland to Germany),” - added Pawlak.

Vice Premier urged to make mutual concessions, noting that it would help solve the problems in bilateral relations.

Pawlak recalled that in 2007 the Polish government withdrew its comments on Russia”s accession to the WTO, and a few months later, the Russians lifted the embargo on Polish meat to Russia. He also noted that in 2006 becauseof conflict policy, Poland has lost 10% discount on gas deliveries to the country, and then the loss of Poland resulted in a billion dollars. Read More »

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Bankers Strike Back

By admin | Published: January 31, 2010

proposed by U.S. President Barack Obama”s tax obligations of banks can be challenged in the Supreme Court. One of the largest lobbying groups of the financial sector - Securities Industry and Financial Markets Association (SIFMA) - hired a well known lawyer in order to establish the legality of such selective taxation sector participants.

interests of the sector will defend very well known and titled lawyer from the company Sidley Austin Carter Phillips, who has extensive experience in the U.S. Supreme Court. According to The New York Times, e-mails with the notice of his hiring were sent to a group of heads of major banks last week. The task of Phillips Obama”s proposals include checking for compliance with the bill the U.S. Constitution.

According to experts, the authorities will be very difficult to prescribe in law all aspects of the so-called “tax on the crisis.” He is expected to be charged with 50 major financial institutions, whose assets exceed $ 50 billion in the same time, many hedge funds, and insurance company AIG, along with the banks received emergency assistance from the state during the crisis, will be exempt from tax. Thus, the selection of several banks, rather than the entire sector could be interpreted as a violation of the law.

In SIFMA confirmed RBC daily, that Carter Phillips actually hired to protect the interests of its members, as well as the fact that SIFMA does not approve of Obama”s initiative. Employee who wished to remain anonymous, added that it was too early to talk about litigation because the bill itself has not passed before Congress and has no legal force. It should be noted that representatives of the U.S. banking industry is not the first time resorted to the services of Phillips. Last spring, SIFMA instructed him to examine the legal aspects of the proposed government tax on bonuses. Read More »

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Gas cheaper

By admin | Published: January 31, 2010

The exemption would cost “Naftogaz” approximately 80 million UAH. losses, but will support the operating activities of industrial enterprises of basic industries in the first quarter.

“For us this is no small support, given the need to have more working capital to load capacity under spring sowing,” - the company believes “Styrene”, the largest consumer of gas among the producers of nitrogen fertilizers. Will be satisfied with the decision of the Government and metallurgists. Last year, the assignment saved them 200 million UAH.

will be less significant savings in the first quarter of this year. “Judging from the fact that MMC consumes about 1.3 billion cubic meters. M of gas in the quarter, the savings of working capital will amount to UAH 50 million. For all enterprises. The amount is insignificant, especially considering that the price of gas in the first quarter was rise due to higher prices for imported gas from 1899 UAH. to - approximately - 2560 UAH. for 1 thousand cubic meters. m “, - the analyst IK” Dragon Capital “Denis Sakwa.

Several smaller amount of funds left in their wallets and chemists, given the fact that the consumption of blue fuel in these industries are not too different after the crisis. Thus, according to the Center for Energy Studies, in 2009 MMC “ate” 5,5 billion cubic meters. meters of gas, and khimprom - 4,8 billion cubic meters. m, which shows almost twice the incidence of consumption. Totally the industrial sector of Ukraine has revised more than 18 billion cubic meters. meters of gas in 2009 “Naftogaz” expects that in 2010 he realizes the industry more than 21 billion cubic meters. meters of gas, which experts call a few inflated projections.

a monopolist hush its position on the preferences of industry, but company representatives have already appealed to the Prime Minister with a letter, which was asked to descend to the financial problems of the enterprise. Read More »

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Before the publication of reports Citibank and IBM Russia”s markets will move in “Comma delimited”

By admin | Published: January 30, 2010

On Monday, Russia”s stock markets rose: the MICEX index added 1.8%, RTS index rose by 1,4%. In the United States was a national holiday, Martin Luther King Day, in connection with what, the American markets were closed and the external news background was relatively stable. Following Monday comparatively weakly increased oil and gas companies, the company looked stronger than steel sector and finance. Low oil prices still do not allow oil and gas sector show dynamics at the level of the market.

Today, oil prices continue to decline and 12:30 traded at $ 76 - $ 78 per barrel. However, despite the moderate positive opening, after the publication of statistics on the UK CPI is the world”s stock markets are showing correction. Annual rate of inflation in Britain rose to 2.9%, which is a maximum since the beginning of 1997. By 13:00 the MICEX index decreased by 1,2%, RTS index lost 1%. Such a drastif91c reaction to the statistic data says about the origin of doubt among investors in the desirability of further growth. Today”s macroeconomic statistics is hardly weighty influence the course of trading, but investors should pay attention to the reports of Citibank and IBM. Prior to the publication of relevant reports Russia”s markets will move in a side corridor.

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The worst of the market, probably under the influence of technical factors, the securities traded today, a number of metallurgical and mining companies

By admin | Published: January 30, 2010

MICEX today to 12:30 Moscow time amounted to 1 468.92 points, which corresponded to a decrease since the beginning of trading on 0,72%.

In leaders of growth against the background of a certain lack of fresh investment ideas were morning papers electricity companies. Went up by 1,14%, 2,3% and 0,45% ordinary shares Irkutskenergo, OGK-5 and OGK-3, apparently,”d play again move the industry on the RAB and the new tariffs, as well as, apparently, favorable rates revenue sector at the beginning of this year in connection with the cold.

The worst of the market, probably under the influence of technical factors, securities were traded today, a number of metallurgical and mining companies. Ordinary shares VSMPO and Uralkaliya decreased while at 1,97% and 1,54%.

It is worth also decrease the attention of quotations of securities companies rossyskogo TAC associated obviously with the re-start sales in the futures segment of energy. The negative impact on the dynamics of this market sector continues to lack of solutions to the dispute between Russia and Belarus on the value of oil transit. Gazpromneft Ordinary shares and preferred shares of Transneft cheaper today at 2.24% and 2%.
In the short term under the influence of today”s publication of important macro-and microeconomic statistics is quite possible the marked increase in volatility of prices of6cf Russia, the world”s stock market. In this case, the chances of consolidating Russia”s stock market in a wide price range from the perspective of the next few months at the moment still appear relatively high.

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Board of Directors Bashkirenergo headed by presidential chief of staff of Bashkortostan Nicholas Kurapov

By admin | Published: January 30, 2010

Shareholders Bashkirenergo at an extraordinary general meeting on January 14 elected a new board of directors consisting of 13 persons.

The Board of Directors Bashkirenergo included:
• Anton Abugov - First Vice-President, Head of Strategy and Development of OAO AFK Sistema;
• Peter Bezukladnikov - Executive Vice President, Director of the electricity business unit of TAC “OAO AFK Sistema;
• Alexander Branis - director of Prosperity Capital Management (RF) Ltd.. “;
• Alexei Buyanov - Senior Vice President, Head of Finance and Investment JSC Sistema;
• Sergei Drozdov - Senior Vice President, Head of the property complex of OJSC Sistema;
• Alexander Corsica - Senior Vice President, Head of Business Unit “TAC” OAO AFK Sistema;
• Nikolai Kurapov - Head of Administration of the President of the Republic of Bashkortostan;
• Andrey Likhachev - Advisor to the President of JSC “Russia”s Railways;
• Jury Pustovgarov - Deputy Prime Minister of the Government of the Republic of Bashkortostan;
• Maria Tikhonova - Deputy Director of the Department of economic regulation and property relations in the energy industry Ministry of Energy of Russia;
• Dmitri Troshenkov - First Deputy Chairman of the Board of OAO “UES FGC”;
• Roman Filkin - Deputy Director of the analytical department of representation of “Prosperity Capital Management (RF) Ltd..”;
• Eugene Tsyba - head of the control power business unit of TAC “OAO AFK Sistema. Read More »

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The dynamics of trades within the day will depend not only on the situation on the oil market, but also on the news from Europe and the U.S.

By admin | Published: January 30, 2010

Lack of trades in the United States on the eve of a negative impact on investor sentiment. Futures on the U.S. S P500 index grows up in the morning, haggling about the same grades as yesterday. Asian indexes mostly falling on Tuesday morning, not finding new ideas in the events of the last day. Raw ground feel better, but there is not so good as we would like.

Oil prices yesterday showed growth for the first time in the past few trading sessions, which had a tangible support to the domestic indices. Unfortunately, closer to the closing quotation of the two varieties of “black gold” had gone down. As a result, on the basis of the trading day Monday, energy prices have not changed. This morning Brent and WTI show weakly expressed negative dynamics. Both varieties are traded below those marks, which Russia traders watched yesterday at the close of our exchanges. It is possible that the day quotes oil again try to go up, given the observed morning weakening U.S. currency. But even if we see growth, he is unlikely to be sustainable and lasting. Until Thursday, oil traders will be difficult to determine the further direction of motion, as this day the publication of two important players of the oil market news. Will be released in the tanks U.S. stocks for the previous week and the most important statistics for China in December, traditionally a strong impact on commodity trading platforms.

In general, the background now shows a moderately negative start trading on Russian exchanges, which will provoke a desire and partly earned record profits yesterday. The dynamics of trades within the day will depend not only on the situation on the oil market, but also on the news from Europe and the United States. In the euro zone will be published today, the January index of business sentiment ZEW Survey (13:00 Moscow time.), Will be released in the U.S. reporting Citigroup.

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Forex Market 19/01/2010

By admin | Published: January 30, 2010

 

Against the background of low trading activity in the absence of U.S. players the EUR /USD on Monday night managed to restore some lost last week”s positions. A similar situation prevailed in the Asian session. As a result, quotes the euro against the dollar today at the opening of the European session are at levels near 1.4400 against 1.4350 at the close of the previous week.

It is likely that the market has a positive attitude in the upcoming publications in the coming days, especially, reporting a number of leading American companies and banks. Some support segment of investment in risk “renders the approaching start date Feb. 2 this year the next summit of leading countries of the world. Meetings of G7 and G20 in recent quarters, as a rule, gave new impetus to reduce the estimated market risk and, indirectly, the euro.

Nevertheless, assessing emerging in December - the first half of January, the trend of macro-and microeconomic statistics, it is important to note its very heterogeneous, often quite unfavorable for the financial segment of the character. Read More »

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