The extraordinary general meeting of Yekaterinburg-based oil and mayonnaise producing company resulted in the decision to pass the dividend for 2008. In addition, the present stockholders elected the new Board of Directors, comprising seven members now.

The Federal Insurance Surveillance Service confirmed the fact that the license of Uveren.ru Insurance Company (the asset of Bank24.ru) was halted temporarily. The Service’s official website states that the insurer’s license С № 1396 66 as of March 31, 2008 was halted due to the company’s failing to meet the orders issued by Ural Federal District’s Insurance Surveillance Inspectorate in due time. Order 310 that halts the license was issued on June 10, 2009; it has already been signed and has come into effect. According to this order, the insurer has thirty days to eliminate the existing

‘From its very start, the Academic construction project had a lot of support from both the regional and federal state authorities. I believe the project’s special status is being even further fortified now,’ Unicom Partner Investment and Finance Company’ Deputy General Director Dmitriy Zemerov said to an UrBC reporter. In fact, Russian President Dmitriy Medvedev visited the construction site (maintained by Renova-StroyGroup) during the Shanghai Cooperation Organization summit in Yekaterinburg and spoke very highly of the project’s achievements. ‘Firstly, this means that the project will be

On June 27, 2009, Bank Severnaya Kazna (the asset of Alfa-Bank) will not be servicing customers in any of its subsidiaries or additional offices, the spokesperson for the bank reports. The bank claims they had to take this step due to production necessities.

The international rating agency has recently placed the ratings of five bonds issues coordinated by Alfa Diversified Payment Rights Finance Co. S.A. (Alfa-Bank’s trust company) on CreditWatch list, with Negative Rating Outlook. Standard & Poor's reports this was a follow-up on putting Alfa-Bank itself on the same list. ‘These ratings show how the agency feels about the issuer’s financial stability as well as about the existing overcollaterization (which actually ensures a better credit quality of the payment flow) and the other elements of the bond transaction that reduce the risk of

Governor of Chelyabinsk Region Petr Sumin visited Zlatoust Metallurgical Plant (ZMZ) to evaluate the efficiency of the actions taken by the management to bring the plant back to life. Sumin inspected the first and the third steel-smelting shops that resumed operation a week ago. At the moment, only four out of nine furnaces are operating. The plant’s GD Sergey Khomyanin also invited the Governor to check out the rolling shop. The GD explained the plant would deliver 2,500 tons of ready goods to customers by the end of the month. In July, the shop’s steel output is expected to reach 10,000