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Where there is no law, but every man does what is right in his own eyes, there is the least of real liberty
Henry M. Robert

NEWS IN BRIEF

13 November, 2012 - 00:00

Anonymous Bank Accounts Will Not Be Closed

Anonymous bank accounts will not be canceled automatically after the presidential decree On Some Questions of Protecting Bank Secrets comes into effect, states NBU head Viktor Yushchenko.

According to him, anonymous accounts, opened before this decree came into effect, "will last during unlimited period of time" and can be canceled or transformed into some other kind of bank accounts only at the owner's decision. However, interest will be added to the anonymous accounts only until July 1999 and then will be stored in coded accounts.

Yushchenko noted also, that banks can grant information about accounts in three cases: on the owner's or his trustee's request, on the written request of the police, or on court order. This order is valid not only for coded accounts, but also for all other kinds of bank accounts.

Orders from Commercial Banks Awaited

Commercial banks, which have a registered statutory fund of at least three million ECU and licenses for conducting bank operations involving foreign currency on foreign markets, can turn to the Commission of Questions of Awarding Authorizations to Work With Non-Residents on the State Securities Market. The commission will meet today, UNIAN reports.

Slobozhanshchyna Ceramics Offers Exports

On July 30 in the village of Plavynyshche, Romny district, Sumy oblast a new Ukrainian-American joint venture, Slobozhanshchyna Construction Ceramics and is the largest maker of tile bricks in northeastern Ukraine. The plant's founders were the Romny Construction Materials Plant and the Western NIS Enterprise Fund of the US, which supports enterprises in the newly independent states. The new venture was one of five largest US investment projects in 1997 and upon beginning work is expected to be a strong manufacturer of competitive and inexpensive bricks selling at 150 hryvnias per ton. This makes export to neighboring countries very feasible reports Serhiy Khanin, The Day.

US Drops Antidumping Tariffs on Titanium Sponge Imports

The US International Trade Commission has dropped charges of dumping of titanium sponge on the US market against Japan, Kazakhstan, Russia, and Ukraine, reports Infobank. The decision was justified by noting that domestic US producers cannot meet US domestic demand for titanium, and the USSR, against which the punitive tariffs were imposed thirty years ago, no longer exists.

CIS States Continue to Show Growth in Industrial Output

Virtually all CIS states have registered increased in industrial output this year, with Kyrgyzstan showing the most growth and Russia the least. Interfax reports in the first half of 1998 11 of 12 CIS member states showed a growth in industrial output (data for Turkmenia were unavailable). Industrial output in Kyrgyzstan in the first half was up 23.5% over the same period of last year and in Belarus rose 13.5%. The lowest growth was shown by Ukraine (0.7%) and Russia (0.1%). The highest GDP growth for the same period was shown by Belarus (12.5%), while in Ukraine GDP rose 0.2%, and in Russia it dropped 0.5%.

Crimean Auto Output to Rise

8000 GAZ automobiles are planned to be produced by the end of the year by Krymavtohazservis before the end of the year, enterprise director Anatoly Lazarev announced. Currently the plant is producing 30 types of GAZ cars, with the Gazelle minibus enjoying most demand domestically. Almost 40% of components for the Crimean autos are made in Ukraine. Next year the plant also plans to produce the latest Volga model 3111 and four Fiat models. The director is confident that despite the plant's unprofitability it will still be able to continue to pay its suppliers and workers, reports Danylo Kliakhin, The Day.

 

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