UC RUSAL has voted against Interros’s proposal that Norilsk Nickel use cash funds to buy back the company’s shares. UC RUSAL has consistently advocated that funds not used in investment programmes should be distributed among all shareholders by way of a dividend. We believe that a dividend payment is the most effective form of using unallocated cash funds in the interest of all shareholders. Furthermore a dividend payment would not infringe upon the rights of minority shareholders who have no intention to sell their shares. We believe Interros has seized upon the buy back instead of a

‘The proposals Garegin Tosunyan came up with at the 9th All-Russian Banking Forum are nothing new. There are plenty of banks that keep suggesting ways of invigorating the country’s banking system for several years now. It makes sense for the Association of Russian Banks to try and act as the bankers’ trade union of sorts and to present these initiatives to the state authorities,’ Ural Treasures Bank’s Marketing Management Director Konstantin Yushkov said to an UrBC reporter. In the course of the forum, President of the Association Garegin Tosunyan said banks needed a wider resource base and

Central Bank of Russia reports volume of for-profit self-regulatory organizations’ deposits in SberInvestBank valid for 1 to 3 years plummeted by 90.94% (from 27.6 million RUR to 2.5 million RUR) in January-July 2008.

‘The rules of competing on the private individuals’ deposit market are as standard as on any other one. You can beat your rivals with the help of a product’s price or through better service,’ URSA Bank’s Ural branch’s Vice President Alexei Sannikov reports. The bank executive feels the first stage of market competition is usually characterized by pricing policy adaptations, like offering better interest rates on deposits. ‘Small banks normally focus on introducing higher interest rates; larger banks follow suit, but not too fast, since they can afford to compete through non-price components

Ural Federal District’s division of the Federal Financial Market Service officially halted the issue of Irbit seed breeding station’s ordinary registered uncertified shares. The decree to this extent was registered on June 4, 2008.

According to the Central Bank of Russia, volume of for-profit self-regulatory organizations’ deposits in Uralprivatbank valid for 1 to 3 years went down by 46.07% (from 355.95 million RUR to 191.95 million RUR) in January-July 2008.

‘Sverdlovsk Region dwellers started inquiring about holiday offers for the winter recess as early as the beginning of August. Most often, people want to celebrate New Year’s Eve in Thailand, the United Arab Emirates, or Europe (mainly France),’ Fond Mira Travel Agency’s manager Nadezhda Moiseeva said to UrBC. ‘The most inexpensive trips of this kind are available for ?1500,’ she added.

Central Bank of Russia reports volume of loans given by UralTransBank to sole traders for up to 30 days dropped by 69.71% (from 63.577 million RUR to 19.254 million RUR) in January-July 2008.

Eight claims against a number of insurers were placed by Yugoria State Insurance Company with Tyumen Region first-instance Court of Arbitration. The claims were laid against ROSNO, MAX Insurance Company, RESO-Garantiya, Ural-Sib, and Rosgosstrakh-Ural.

A committee responsible for organizing and coordinating the international conference on Russia’s gas and oil producing regions’ role in the achievement of Millennium Development Goals met in Khanty-Mansiysk to discuss the preparation process. Deputy Head of Khanty-Mansiysk Autonomous Region Government Vladimir Karasev was requested by Governor of Yugra Alexander Filipenko to chair the meeting. The event was attended by Chairman of the Soviet of the Federation North Development Committee and Northern Forum Association’s Regional Coordinator Gennady Oleynik, who informed the audience that,