Ural Airlines is now going to indicate the amount of VAT paid by the customers on every airplane ticket automatically. ‘This means all companies that send their employees on business trips can have the VAT reimbursed if they provide the tax services with the necessary papers, namely, airplane tickets or e-ticket itinerary receipts,’ says Ural Airlines’ Commercial Director Kirill Skuratov. “This service only used to be available in the company’s booking offices when the clerks had to enter the amount of VAT manually,’ he adds. ‘The reimbursement of this tax payment comes to quite a

‘It was decided under the current education reform that several leading universities should be singled out and receive the better part of the state aid. Now the Association of Russia’s Leading Universities was set up to ensure communication among these colleges. The statutory meeting took place early in June,’ Rector of Ural Federal University Viktor Koksharov announced at a press conference held in the course of Saint Petersburg Dialogue Forum in Yekaterinburg. ‘The Association’s first session will be held on October 14-15, 2010. The agenda of the meeting will cover issues related to college

Expert RA, a rating agency, affirmed OAO Bank Monetniy Dom’s credit rating at B++, Acceptable solvency level. The rating was mainly affirmed because the bank hasn’t borrowed a lot of money from large organizations: as of April 1, 2010, only 4.4% of the bank’s gross liabilities was borrowed from ten creditors. Also, the agency’s analysts think favorably of the great share of long-term liabilities the bank has: over 47% of the company’s liabilities, in fact, have to be paid back in more than 180 days. Finally, Monetniy Dom can boast good instant and current liquidity of Н2 = 91.8% and Н3 =

The Central Bank of Russia might cancel the license that allows OAO MezhPromBank to deal in banking activity due to a number of formal reasons. According to RIA Novosti, the bank reconsidered the quality of its lending portfolio on July 13, 2010 and declared almost 100% of its loans were bad ones. This means MezhPromBank has to create additional reserves, which will lead to capital inadequacy and violate the legal requirements set for the Russian banks. In this case, the Bank of Russia will have to cancel the bank’s license automatically. Now MezhPromBank was first unable to pay off its 32

The 6th International Defence Expo is to be held in Nizhniy Tagil State Arms & Military Equipment Exhibition Center of Nizhniy Tagil Metal Testing Institute on July 14, 2010. The idea behind the exhibition is to demonstrate the industrial achievements in new designs and technologies, to help the companies expand their sales markets, and to promote the companies’ produce at home and abroad. This year, over 250 Russian enterprises from twenty-nine Russian regions are expected to take part in the event, and over 200 foreign experts are expected to visit the exhibition. In addition, 250