Bank VTB set a five-billion-ruble loan limit for Sverdlovsk Region. This money can be used to finance the current budget deficit, the temporary cash discrepancies, government liabilities, or loans to legal entities under the region’s state guarantees, the bank’s press officer reports. This loan will be used in accordance with the existing legislative requirements. The money is to be obtained through a public auction among Sverdlovsk Region’s largest banks. At the moment, the region’s government is considering Bank VTB’s offer to take part in an auction that concerns the first transaction

The losses of OAO Ural Railway Machine-Building Plant came to 85.56 million RUR in the second quarter of 2010. In the first quarter of the year, the figure came to 113.75 million RUR. The company explains its losses decreased due to the dropping prime cost of the commodities, products, and services sold.

20.1% of OOO Mount Volchikha Ski Resort’s authorized capital is now offered for sale, the trustee in bankruptcy of OOO Mikhailov Enterprise Daniil Mazurovskiy says. The opening bid has been determined at 14.54 million RUR. OOO Mikhailov Enterprise was declared bankrupt by Sverdlovsk Region Arbitration Court in September 2009. The insolvency application regarding Mount Volchikha Ski Resort was laid with the court by OAO Bank VTB.

The international rating agency promoted the national scale rating of West-Siberian Commercial Bank (ZapSibComBank) from ruBBB- to ruBBB and raised the bank’s bond rating from ruBBB- to ruBBB as well. Now the bank currently has 1.5 billion RUR worth of bonds with a 12% annual coupon interest rate; the bonds are to be retired in 2011. In addition, Standard & Poor's affirmed the bank’s В-/С long-term and short-term contractor credit rating, with Stable rating outlook. ‘ZapSibComBank’s ratings were increased because the bank showed some more distinct signs of recovering its paying

Head of Sverdlovsk Region Government Anatoly Gredin met with a delegation of Pakistani entrepreneurs in Yekaterinburg. The Plenipotentiary Minister of Pakistan’s Embassy in Russia and Director of the Trade Department Mohammad Ghauri said the visit had to do with the prospective participation of the Pakistani President in a four-party summit in Sochi in August 2010. The Minister declared the Pakistani Government saw cooperating with Russia in terms of trade and economy as its top priority at the moment. Anatoly Gredin told his guests about the Mid-Urals’ business potential and the largest

BOD Chairman of Magnitogorsk Iron & Steel Works (MMK) Viktor Rashnikov was elected President of Russian Steel Non-Commercial Partnership. This decision was taken at the partnership’s annual general meeting, MMK reports. Russian Steel Non-Commercial Partnership was set up in 2001 by Russia’s leading metallurgical companies to coordinate their efforts aimed at protecting the Russian metallurgical community’s interests on both the home and foreign markets and to implement some non-profit projects. The members of the Partnership manufacture 65% of Russia’s cast iron, 53% of the country’s