Christos Savvides, Member of the Board of Directors of the EOS Group with responsibility for Eastern Europe, explains: “Of all credits in the Ukraine with a total of some 24 billion US Dollar almost 30 percent were rated as defaulting in 2010.” The reason: Individuals who took out loans in foreign currencies, primarily dollars, were hit hard by the devaluation of the Ukrainian Hryvnia. The currency was devalued by over 50 per cent. Therefore, the repayment of foreign currency valued loans became more strenuous – the lower or non-repayment of loans affecting many banks.

[sc name="goget" misc1="Эволюция, так сказать" misc2="Итальянцы слишком плотно засели в офисах. В этих же офисах они мало работают. А ведь индустрия Италии постоянно сокращается. И если раньше итальянцы, к примеру, делали неплохую бытовую технику. Сейчас - только высшую линию и профессиональное прачечное оборудование. Но этого явно недостаточно, для того, чтобы поддерживать рост ВВП, и как следствие - высокие жизненые стандарты. Приходится перекрывать дыры в бюджете за счет заимствований..."]

“International companies want a partner who, like EOS, ensures service quality while preserving the company’s image and customer satisfaction”, Mr Savvides adds. EOS focuses on the banks’ and on their customers’ needs in order to find acceptable financial solutions for both sides. “We look forward to serving both local and international clients in Ukraine.”

The Ukrainian EOS company will be headed by Aleksey Teslenko. He has been working in the financial sector for the past twelve years, for five years in top management positions. Before he started his job at EOS he was Managing Director for one of the Ukrainian market leaders for outsourced collection and call-centre services.

He says:

“We profit from the good connections to and the know how of the EOS Group companies in our neighboring countries. Our clients will benefit from the long term-experience and financial background of EOS.”

The EOS Group

The EOS Group, an Otto Group subsidiary, is a leading international provider of tailor-made services covering the entire life cycle of a customer relationship – from customer acquisition to electronic payment processing, debt collection and purchase of receivables portfolios. The core business is receivables management. EOS is committed to high standards of debt collection to protect creditors and consumers. With over 5000 employees, EOS serves its 20,000 customers in more than 20 countries worldwide through over 40 subsidiaries.

According to Tigipko, if you can not change anything in the economy, the Ukraine will come to the situation faced by Greece, Romania and Hungary. “What it all end?” We are not able to service these debts, including the printing press, which will lead to growing prices and the devaluation of the hryvnia – says Ukrainian Deputy Prime Minister.

“Improving the Ukraine’s sovereign ratings follows the agreement reached with the IMF on a new lending program to $ 14.9 billion, which supports confidence in the prospects of policy and funding, reduces the risk of macroeconomic and financial instability and a positive factor for the country’s creditworthiness,” – said the director in Fitch’s sovereign ratings, David Heasley.

According to Mr. Partskhaladze, resumption of trading depends on the audit of financial performance, financial results for the year 2009. He noted that the audit is actually completed, but the company can not announce the results in connection with the ongoing restructuring of debt for Eurobonds. “We conduct audits. There were technical nuances. We’re still continuing to restructure. There’s still time. When all decide, then will announce its financial results. We certainly intend that this will happen before the end of this year” – said Chairman of the Board. Lev Partskhaladze also recalled that a similar situation with the trades was in 2009.

The Finance and Credit Bank, owned by Konstantin Zhevago was able to conclude a contract for the provision of subsidized credit of $ 11 million, despite the fact that the total debts of the bank’s syndicated loan exceeds $ 40 million of Bank Finance and Credit is also owed to the state of $ 25 million hryvnia. “Finance and Credit” reported involvement with a British company Bloomshine Ltd $ 11 million under the subordinated debt, – reports Prokuratura.org.ua.

Meanwhile, the bank continues aggressive promotional campaign. The entire city of Kiev is filled up with billboards, leaflets and promotional pens with the bank merchandise.

According to the bank, the funds involved in the program to increase the level of capitalization of the bank for 7 years. From the beginning, the Bank Finance and Credit “has attracted funds in the amount of $ 63.5 million under the subordinated debt.

Falls even the British pound, and the only two currencies, for various reasons remain in their: UAH and the yen. If the latter succumbed to the dollar, the torque is actually growing on the background goverment regulation. Support of Ukrainian currency is ephemeral and talk about real strong Cruz hryvnia is not necessary, – said Anton Kutsenko, CEO of Open Knowledge. According to analysts the company, the dollar in Ukraine will grow to the level of 8.5 hryvnia for one to the end of this summer.

Under the new law, excise tax on gasoline brands and their components should be increased by 20 and 560% – 132 euros / t. From the explanatory note to the document that increased tax burden will not affect the retail prices. “Increasing the excise tax does not provoke a rise in prices for gasoline. In any case, a sharp rise in prices, we will not allow “, – commented on the law of Prime Minister Mykola Azarov. With this statement hard to accept when we recall the results of the last increase the excise duty, which occurred in December 2008. Then, the Verkhovna Rada voted to increase the excise tax on gasoline with an octane number of 76 to 98 at 83% – up to 110 euros per ton, after which the liter of the most popular fuel in the country’s A-95 rose by 11% – to 5,4 UAH. Despite this experience, while Azarov forecast comes true. For example, during the last week (since 16 June, when the law came into force) 95 th in the retail, on the contrary, it fell by 0,7% – to 7,75 grn. / L. At the same time, market experts say that local motorists witnessed this positive dynamics only due to the fact that in May (when oil was bought for processing at the refinery in June), the price of black gold in world markets has fallen to the lowest this year marks – $ 68 / barrel. “According to our estimates, in late May the 95 th was supposed to cost about 7,6 USD. / L (while on the fact he was sold on 8,06 UAH. / L. – Ed.). Reduction of prices at the gas station to this level has not happened because the new excise duties were laid in the retail prices well before the entry into force of the Law № 6337. By the way, the cost of fuel excise taxes are not taken into account the current (132 euros / t), as originally envisaged in the bill – 172 euros / t. So I do not think that the entry into force of the Law number 6337 does not trigger a rise in prices “, – said« k: »Deputy Director of the SEC” Psyche “Gennady Ryabtsev. At the same time, he said, to mid-July, gasoline A-95 in retail might appreciate (while maintaining the hryvnia exchange rate to the dollar) by around 30 kopecks. / L – up to 8,05 UAH. The reason for this, according to Ryabtseva, a price hike of oil in the first half of June.

About the same increase in fuel prices forecast in the consulting group A-95. “We have an instant reaction to the retail excise increase will not be. Although the objective of gasoline still have to pay more because the world oil market once again ran up, typing in price in the first half of June, 16% – to $ 77/barrel. On our forecasts, by mid-July the 95 th price will rise by up to 20 kopecks. / L – to 8 USD. / L “, – said« k: »director of” A-95 “Sergey Kuiun. In favor of this projection of at least two facts. First, recently in Ukraine gradually began to appreciate the 95 th in the large wholesale (per week the price rose to 130 UAH. / M – up to 8,25 UAH. / T). Secondly, now at home stations are gradually being depleted stocks of petroleum products produced from cheap raw materials in May. By the way, as reported «k:» State Statistics Committee, by the beginning of summer in Ukraine were formed significantly smaller reserves of fuel than last year. So, as of June 1, 2010 oil traders have accumulated fuel in the amount of 257.8 thousand tons (of which octane 95-98 – 116,4 thousand tons), as well as 422,3 thousand tons of diesel fuel. While on June 1, 2009 in the reserve was 388.8 thousand tons of gasoline (of which with an octane number of 95-98 – 202.7 thousand tons) and 438.7 thousand tons of diesel fuel. “Previously reserves sufficient for more than a month, but in recent years, many traders moved into the trade” with wheels “, which is why the current stock is less than last year. Accordingly, we can expect that by the beginning of July, the market will be petroleum, which was produced from oil purchased at higher prices “, – considers Ryabtsev.

According to market experts, future price volatility is unlikely to trigger a reduction in the supply of fuel. After clicking on the UAH 8. / L Ukraine has already passed this spring, and the market is at the peak of seasonal consumption. Another thing is that raising excise taxes – this is a good impetus to increase the market volume of poor-quality petroleum products. “For example, in June began to move trains smuggling of diesel fuel (up to 1.5 tons / day, or about 150 tank trucks / day) through the eastern border of Ukraine. This diesel by 50-60 kopecks. less formal, “- says Kuiun.

If any terms as oil traders and above can get quite good income from retail sales. As an example, calculations of one of the smaller parties petroleum products market – Kiev Ltd “Firm” Grant “. According to the «k:», a couple of months ago, this company was approved by the Economic Court of Kiev as an investor LLC Nafta LW “, which operates two stations in the Poltava region. According to the calculations “Companies” Grant “, it will be able to pay about 400 thousand UAH. Debt Nafta LW “as soon as possible because he expects to receive revenue from a gas station at about 102 thousand UAH per month. “Surcharge on petrol A-80 is 70 kopecks. / L, at A-92 – 80 kopecks., Diesel fuel – 85 kopecks. / L, and A-95 – 1,05 UAH. Thus, the average daily earnings of about 3,4 thousand grn. This net income per month of gas station (after deducting the cost of salaries, taxes, etc. – Ed.) Planned to reach 16,8 thousand UAH. “- Reads the calculations oil trader-investor.

Now Russian state-owned banks control in Ukraine, about 7% market share: 3% of assets in affiliated structure of Russian State Bank VTB, 3% – at Prominvestbank owned Russian VEB, another 1% market share in daughter’s Savings Bank of Russia. Purchase of Raiffeisen Bank Aval will strengthen the bargaining power of Russia for a further 6%. According to analyst BG Capital Vitaly Vavrischuka, it will positively affect the banking system of Ukraine – diversifies its risks. Now the majority shareholders of banks with foreign capital in Ukraine – it is shaped European business groups. In the past year and a half they actively replenish the capital of its Ukrainian subsidiaries, and also helped them to maintain liquidity by issuing loans. In the spring of this year, the eurozone economy is suffering because of budget problems in Greece and other countries. This led to a significant weakening of the euro against the dollar. If the situation in the EU will continue to worsen, then foreign investors could weaken the support of their assets in Ukraine. This is partly weaken our banking system. But the present Russian state-owned banks to maintain their structures are quite capable and definitely will do it.

Why does the money go from Ukraine abroad explained economic expert Sergey Kiselev: “This trend is related to the desire to preserve accumulated. In practice, since 2008, was the question of how not to lose and increase savings. Accordingly, the purpose of investment have become the objects to Egypt, Greece, Cyprus : Real estate in these countries enjoyed considerable demand. People try to find opportunities to invest abroad. For example, the same property in many EU countries is much cheaper than in Ukraine. Yet the question can not be completely ruled out withdrawal of money in Ukraine, for Cyprus, despite the EU membership remains an offshore zone.

According to official statistics, investment in Ukraine has always been less than investment from Ukraine. In Ukraine, there are convenient mechanisms which could invest the money, especially for the middle class. One of those is a bank deposit. But the past years 2008 and 2009. subjected to this mechanism doubts about its reliability. Stock market in Ukraine is not yet adequately developed, moreover, his fall was caused also by the global crisis. The real estate market has been frozen. Therefore, those who have opportunities to invest in facilities abroad.” It should be recalled, that for the first quarter of this year, investors have invested in the economy of Ukraine 717.1 million dollars of direct foreign investment, representing 61% of the proceeds of the first quarter of last year.

Gold in world markets since the beginning of 2010 have risen in price by 15%, which increased the profitability of investments in this precious metal as compared with bank deposits in foreign currency. Global demand for gold in the first quarter of this year decreased by 25% to 760.2 tons (24.4 million ounces) compared with same period last year. However, since April the cost of goods grew by 11%, and on June 21 set a new historical maximum at 1264.59 dollars per troy ounce. Cost yellow metal in Ukraine depends on world market prices and, at the moment is about 318 hryvnia per gram. “The time to invest in gold on all the characteristics of the market is already taking place. Until the late summer of significant growth, which will override the profitability of investments in deposits or in the stock market, and gold should not expect. All the price movement will focus in part to 1,280.00 dollars per ounce, from the current price does not exceed 2.1% “, – Vladimir Oleksyuk forecasts, expert analytical department X-Trade Brokers Ukraine. Investing in gold as compared with short-term deposits in national currency at today is not profitable, as average interest rates on such bank deposits for two months and are above 2.71%. Foreign currency deposits until the end of summer, people can bring profitability to 1.3%, while deposits in euros, get a “sweet” bonus in the form of the growth rate of the single currency in the global Forex market to a level 1.2850 (+4%).

A more promising investment can be platinum. This product has a rapid decline after the May at $ 280 with a two-year maximum of $ 1,731.00 an ounce began to rise in price. Given the small volume of trades with a view to investment and increased demand in the automotive industry as a catalyst combustion exhaust gas, this tool is more volatile. It is worth noting market forces long-term growth rates in platinum. Since South Africa provides approximately 79 percent coming into the world market of platinum, reducing the supply of the metal from South Africa necessarily affect the price. In addition, stricter environmental regulations is forcing American and European automakers are increasingly using platinum catalysts. If you buy the same ingot of the product must pay the full cost, including value added tax, as well as a fee for storage and spread in average 9,8% in the sale. Thus, the best would be an attachment to an impersonal (no real delivery) precious metal. Thus, getting more liquidity position, which can be closed at any time with a minimum of a spread in the market 1-0,6%, at world prices of the Chicago Mercantile Exchange. But using the leverage to increase potential profits even modest growth.