"Ukrtelecom"

transferred to the management of the Ministry of Transport. The Cabinet of Ministers appointed the Ministry of Transport and Communications as the manager of the property of OJSC Ukrtelecom, according to government order #828-r dated July 17. The state owns 92.79% of the operator's shares, which are planned to be put up for privatization this year. "Interfax-Ukraine"

IMF

decided to increase Ukraine's share in the fund. The Board of Directors of the International Monetary Fund approved the distribution of special drawing rights (SDR) of $250 billion among the fund's 186 shareholder countries, according to which each country will be able to increase the available number of SDRs by 74.13%. Ukraine will receive an additional 1.02 billion SDR ($1.59 billion), which will allow it to qualify for a larger IMF loan in the future. However, such a decision of the IMF board of directors must be approved by 85% of the votes of the fund’s governing board to enter into force, while the United States (17% of votes) opposes such a revision. Yuri Panchenko

"Eurocar"

announced the suspension of car production. “In the period from July 27 to August 9, an annual technical holiday is planned at the Eurocar plant, during which no car production will be carried out,” the company’s press service told Kommersant. “The increase in car production volumes will depend on the growth of their sales and capacity Ukrainian car market". According to the company, in the first half of the year, 835 cars rolled off the plant’s assembly line compared to 19.66 thousand in January-June 2008. “Now the plant continues to work on a flexible schedule, producing models that have been ordered and are not in stock,” Eurocar noted. JSC "Eurocar" is engaged in serial production of cars of the Skoda, Volkswagen and SEAT brands. It is part of the Atoll Holding group of companies, the main beneficiary of which is Oleg Boyarin. Alexander Chernovalov

"Naftogaz"

invited Ernst & Young to check data for the IMF. NJSC Naftogaz of Ukraine has approached CJSC Ernst & Young Ukraine with a proposal to conduct an independent analysis of data that is submitted monthly to the mission of the International Monetary Fund (IMF), the company's press service reported. Naftogaz says that according to agreements between the Ukrainian government and the IMF, the company must inform the fund’s mission in Ukraine about current financial and economic indicators. The international auditing company Ernst & Young has been auditing the financial statements of Naftogaz, compiled according to international financial reporting standards, since 2004. "Interfax-Ukraine"

Ministry of Finance

became the owner of 99.97% of the shares of Rodovid Bank. According to the State Commission for Securities and Stock Market, the Ministry of Finance became the owner of 99.97% (1.56 billion shares) of the shares of Rodovid Bank. Let us recall that in April the Cabinet of Ministers approved a list of seven banks for recapitalization by the state. On July 6, the government recapitalized Rodovid Bank with bonds worth UAH 2.81 billion (see Kommersant on July 7). Previously, the largest shareholder of Rodovid Bank was RB Capital Group LLC (76.8% of shares), the main shareholders of which were the chairman of the bank's board Denis Gorbunenko, his deputy Dmitry Egorenko, the head of the National Olympic Committee Sergei Bubka and his brother Vasily Bubka. According to the Association of Ukrainian Banks, as of June 1, Rodovid Bank ranked 18th in terms of assets (UAH 9.55 billion). Maria Tsaturyan

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