Starting May 10, 2011, the annual interest rates VUZ-Bank offers on its ruble and euro deposits (Trustful, Optimal, SuperDeposit, and Retirement) go up 0.5%. All these deposit types can be topped up throughout the entire first half of the deposit period, with a fixed interest rate.

Russia’s Ministry for Industry & Trade drew up a presidential decree on the transfer of seven Russian machine-building enterprises’ shares from the federal authorities to Uralvagonzavod, Kommersant reports. The largest asset in question is a 42.5% shareholding in the Tver-based railway carriage-making plant TVZ. The Ministry feels, the newspaper’s sources familiar with the notes accompanying the decree are referred to as saying, that the logic behind transferring the companies’ stock to Uralvagonzavod is that Russian Railways and its daughter enterprises happen to be the key customers of

Fitch Ratings promoted Bank Russkiy Standard’s Issuer Default Rating outlook from Stable to Positive and confirmed the rating at B+. We reconsidered the rating outlook because we expect the bank to start growing again after three years of run-down lending; this is likely to improve the company’s performance indicators because of greater profit generation and a larger scale of doing business. What is more, we feel very positive about the bank becoming less dependent from the finances it gets on the capital market and about the bank proving capable of paying off its $4bn market funds during the