The Urals-based manufacturer of energy-converting machines has been found guilty of an administrative offense in the field of securities violation; a fine of 500,000 RUR was imposed on the company. The decision was taken by Russia’s Federal Financial Markets Service Ural Federal District division.

General Director of Uralenergotsvetmet Alexander Krekov intends to buy the shares he doesn’t own yet from the remaining stockholders. He started with a voluntary selling proposal for the co-owners of the company. The price offered per share comes to 36.77 RUR. Krekov currently owns a 99.5% shareholding in the enterprise. The remaining stockholders have seventy days to make up their minds.

Ural Airlines and RusLine signed a code sharing agreement that will involve a number of domestic flights. RusLine’s code 7R will now be placed for Ural Airlines’ flights from Moscow to Irkutsk, Krasnodar, Novokuznetsk, Saint Petersburg, and Chita, from Yekaterinburg to Saint Petersburg, Sochi, Khabarovsk, Vladivostok, and Yakutsk, and from Novosibirsk to Moscow. The tickets at code sharing prices are already available for booking, with flights starting February 10, 2011. ‘The new agreement will allow for a great reduction of transfer flights prices, which means our passengers will be given

Mikhail Churkanov, notorious for his swindler schemes on the travel and aviation markets of Yekaterinburg, is now fishing in troubled waters again, RBC daily reports. Europa Air, an air carrier based in Yekaterinburg, has been offering cheap tickets for the most popular destinations in Russia and abroad. Rosaviation, however, never heard of such an airline and received no registration applications from the company. The airports the airline allegedly operates flights to are equally unfamiliar with Europa Air. One of the business founders is Mikhail Churkanov, who was convicted for fraud in

The 17th Court of Appeals supported the ruling of Sverdlovsk Region Arbitration Court that says UMMC Holding’s daughter enterprise Yekaterinburg-City must pay ?9.4m to the architects Valode&Pistre, Kommersant reports. The two companies have been struggling with their case in courts since September 2009. Yekaterinburg-City then demanded that Valode&Pistre pay them ?13.55m for failing to meet the design work deadline for Iset Tower. The architects, in their turn, announced all the work was presented in due time and placed a counter-claim with the court, demanding that Yekaterinburg-City