It has recently been detected that General Motors Daewoo Auto Technology CIS uses the Olympics logos on its Chevrolet cars illegitimately. Russia’s Federal Antimonopoly Service Committee and Sochi 2014 coordination committee found out that the said company engaged in unfair competition practices by using the Olympics logos illegally on its Chevrolet automobiles. The FAS committee ordered General Motors Daewoo Auto Technology CIS to stop violating the existing regulations. The word Olympic is actually a legally protected verbal element of the registered trademark belonging to the International

The telecommunications provider MegaFon and Nokia announced they are about to launch a joint special offer. Any customers who buys a Nokia phone in one MegaFon’s retail outlets or online store before July 24, 2011, will be offered a month’s worth of prepaid unlimited Internet use as a bonus, MegaFon’s press service reports. The offer applies to Nokia smartphones (Series 5228, 5230, 5250, С3-01, С5-03, С6-01, С7, N8, E7, and X3-02).

Linde Aktiengesellschaft has recently been fined for an administrative offense committed in the field of securities market regulations in Ural Federal District; the fine amounted to 50,000 RUR. The decision was made by Ural Federal District’s division of Russia’s Federal Financial Markets Service.

Ural Morgan Carbon reports its net profit has plummeted dramatically, that is, by 1,186.3%. The company says the reason for the slump was a decrease in revenues and an increase in the prime cost because of the raw materials and the power resources growing more expensive.

HSBC Russian daughter enterprise HSBC Bank is selling a portion of its retail business to Citibank, Interfax reports. According to HSBC, the assets involved in the transaction were worth 305.8m RUR on March 31, 2011. The deal is expected to go through in the third quarter of 2011. HSBC decided to close its private banking and retail divisions in Russia and to focus on the business customer sector in April 2011. In fact, another large British Bank, Barclays, also made the decision to stop working on the retail services in Russia a little while earlier, Interfax observes.