Page 9 - bne_newspaper_July_12_2019

The Regions This Week
July 12, 2019 www.intellinews.com I Page 9
Eastern Europe
Ukraine's natural gas monopoly Naftogaz started a roadshow of a five-year euro- denominated Eurobond issue in London and Frankfurt, according to local media. Following on from a very successful €1bn sovereign issue in June, analysts think this bond will be tightly priced at 7%-7.5% YTM.
Brokers from Russia’s top banks oppose an amendment to the law on securities markets that will categorise investors according to qualification level. In a letter submitted to the Duma, bank managers say up to 70% of new investors will suffer from the amendments, BMB said in a note.
After many false dawns, Ukraine's high anti- corruption court will finally start work on September 5, the nation's President Volodymyr Zelenskiy promised, confirming a May court decision.
Embattled Russian car dealer Rolf saw its sales grow by 6% y/y to 45,533 vehicles in January– June, the company said, putting it well ahead of the overall car sales market.
Russia’s inflation slowed to 4.7% in June in annual terms from 5.1% in May, the central bank said in a statement on Monday quoting the Federal State Statistics Service.
With Ukraine’s GDP expected to hit $150bn
this year, the nation is on track to record 60% cumulative GDP growth since 2016, when it was $93.4bn. Over the last four years, the hryvnia dollar exchange rate has varied little, staying largely within a 25-26 band. In 2013, Ukraine’s GDP peaked in dollar terms at $183bn.
The EBRD provided a €15mn loan to Ukraine’s leading pharmaceutical producer Farmak. The financing will boost research and development, which will help promote innovation, best industry practices and stimulate competition among domestic pharmaceutical manufacturers.
Russia’s current account showed a $45.6bn surplus in 1H19. The surplus, according to preliminary estimates published by the central bank, was mainly the result of a large trade surplus ($86.5bn). The other data shows a significant increase in FDI ($11.6bn in 1H19, up by x1.4 y/y) and a reversal of capital flows to an inflow of $7.9bn in June vs an outflow of $35.2bn in 5M19.
Moscow real estate completions tripled in the first half of this year to 2.2mn sqm. State officials forecast growth in the sector of 13% y/y for the full year to 4mn sqm.
Former Ukrainian finance minister Oleksandr Danylyuk is interested in becoming prime minister, the politician said in a televised interview. Danylyuk was recently appointed as the secretary of the Ukrainian National Security and Defence Council (NSDC).
Belarus is going to supply 450,000 tonnes of potash fertilisers to Bangladesh. Belarusian Potash Company (BPC) and Bangladesh Agricultural Development Corporation (BADC) inked a special memorandum and a contract on potash deliveries.
The mood amongst Russian consumers brightened a tad in the second quarter of this year, but overall Russia’s consumers remain very gloomy. Russia’s consumer confidence index ticked up by 1 percentage point in the second quarter to -15%, Rosstat reported.
The most widely desired reform in Ukraine
is a crackdown on corruption, according to a survey published by the Ilko Kucheriv Democratic Initiatives Foundation and the Razumkov Center and cited by the Kyiv Post. Anti-corruption tops the list of the five most wanted reforms that also include healthcare reform, social security system and pension reform, law enforcement reform and lustration of corrupt officials, the survey found.