Magnitogorsk Iron & Steel Works (MMK) signed a five-year agreement with Anzherskaya, Koksovaya, Ziminka, and Krasnogorskaya processing plants for the delivery of sinter coal to MMK. MMK PR Department reports the agreement is valid for 2010-2014 and provides for the annual delivery of up to 3.5 million tons of high quality sinter coal concentrate to the enterprise. ‘This agreement means we have our coke and by-product process facilities’ sinter coal needs fully covered. The guaranteed supply of good quality sinter coal will make it possible for MMK to keep implementing its economic

The recent meeting of Chelyabinsk Region recession-fighting committee was devoted to the problems of Katav-Ivanovskiy Mechanical Plant and to the measures taken to improve the financial and economic situation and to protect the workers’ rights. The company’s General Director Yuri Kozhevnikov said the plant’s orders had shrunk considerably against the ante-recession level as early as the fall of 2008. Their storehouses had over 100 million RUR worth of produce. However, the plant found itself unable to attract new orders due to lack of operating assets, as all the cash was directed to paying

The founder of Global Gaming Expo (GGE) Alexei Kalinichenko is not going to be extradited to Russia yet, even though the Supreme Court of Italy sustained the Russian authorities’ claim to this extent. A former member of Bank24.ru Board of Directors, Kalinichenko dealt in trading on Forex foreign exchange market through an offshore Livingston Investment and through Bank24.ru. The money needed for the trading operations was attracted through a number of ad hoc firms, including GGE. The trader promised its customers an annual yield of 30% to 200%. The company stopped paying its investors in

Alfa-Bank’s Alfa-Click, the e-banking service, gets occasional glitches, the bank’s customers complain to UrBC. In fact, the customers had been unable to perform any deposit transactions online for a few days in a row. For one, the online account management service was hardly available on November 27-30, 2009. Alfa-Bank’s press officer has already admitted the bank had a problem with its e-services at the end of November. However, the bank was unable to explain what had been the reason behind these problems. It could actually have been the imperfection of the bank’s technological system.