The copper enterprise Uralectromed’s Board of Directors recommended that the stockholders vote for passing the last year’s dividends in the course of the annual general meeting. The AGM took place today, May 25, 2011. Uralelectromed is the key asset of Ural Mining & Metallurgical Company.

Supporting the ruling of the court of appeals, a cassational court stated that Russia’s Federal Antimonopoly Service’s Sverdlovsk Region division imposing a fine on the Bank of Moscow for violating the existing antimonopoly legislation had been legitimate. The bank has already paid the 370,430-ruble fine to the federal budget for violating the antimonopoly agreement. The administrative offense action was taken when the FAS’s Sverdlovsk Region division detected an instance of the antimonopoly legislation violation on the part of the Bank of Moscow.

Khanty-Mansiysky Bank put off the date of launching its 5bn RUR bond issue BO-01 for an indefinite period of time, Kommersant refers to the bank as reporting. It was announced earlier that the bond offer auction was supposed to have taken place on May 26, 2011. The bank had meant to go through with 5 million bonds with a face value of 1,000 RUR each by public subscription. The bank’s press officer informed Kommersant that ‘the bank currently has enough recourses at its disposal to implement its development programs and needs no additional means at the moment.

The revenues of UTair Engineering (UTair Airlines’ daughter enterprise), calculated in accordance with the Russian Accounting Standards, declined by 6.8% in January-March 2011 compared with the first quarter of 2010 and came to 407.1m RUR, the company reports. The net loss amounted to 307.39m RUR, which was 94% more than in the first quarter of 2010. The company explains the net loss has to do with the expenses exceeding the profits.

A 30,000-ruble fine was imposed on Sky Express recently for delaying a number of flights to the Czech Republic in March 2010, the spokesperson for Moscow public prosecution authorities for transportation reports. It has been determined that, in contradiction to the federal law regulations, the said airline had been scheduling international chartered flights and selling plane tickets without obtaining a permission to operate these flights first,’ the authorities’ report states. The air carrier’s actions resulted in a delay of two chartered flights (Moscow’s Domodedovo Airport – Pardubice, the