The stockholders of SverdlovEnergoSbyt decided at the annual meeting not to declare any ordinary share dividend for the year 2010. As for the Type A preference share dividend, it was declared at 0.0287428338 RUR per share for the year 2010. Business Consulting & Audit Center was also appointed the company’s auditor in the course of the meeting.

URALSIB Capital’s Moscow division and Bank Otkrytiye have successfully completed the launch of RENOVA-StroyGroup’s first, 3bn-ruble bond issue recently. President of RENOVA-StroyGroup Veniamin Golubitsky said the company was feeling very confident about its financial strength.

Serov Ferrous Alloys Works decided not to declare any dividends for the year 2010. This decision was taken at the annual general meeting in Serov, Sverdlovsk Region.

The stockholders of Ural Chemical Machine-Building Works (Uralkhimmash) decided in the course of the annual general meeting not to pay any ordinary share or type A preference share dividends for the year 2010. The enterprise gave up on the idea of profit distribution because it suffered losses last year. In addition to the issue of dividends, the AGM was also dedicated to approving the annual report and the annual accounting report and electing the nine members of the Board of Directors.

The Chinese car manufacturer Geely might set up one more assembling site in Russia. In addition to Derveis in Circassia, where Geely MK is produced, the Chinese company is currently negotiating for the resumption of production at Yekaterinburg-based AMUR car factory. If the parties involved come to an agreement, the new Geely models will be assembled at the Russian facilities, RBC daily reports. Nothing has been settled yet, as the talks only began a few weeks ago. We are not talking about relocating Geely MK production from the plant in Circassia to the Urals. The proposal in question is to

The tourist in-flow from countries that normally provide for most travelers to Russia has noticeably dropped lately, the Russian Travel Industry Union reports. To handle this incoming tourists problem, the Union sent a proposal to the Russian Ministry of Foreign Affairs, asking to set up an ad hoc team that will look into the potential of tourism at home,’ the Union’s press secretary Irina Turina said at a press conference on Wednesday. Interfax refers to Ms Turina as saying that the Union suggested creating a work team that will involve the Foreign Affairs Ministry’s representatives as well

The shareholders of Sredneuralsky Copper-Smelting Plant (SUMZ, part of UMMC) decided not to declare any dividend for the year 2010. This decision was made in the course of the annual general meeting in Revda. It was decided that the 109.11m RUR worth of losses incurred by the company in the year 2010 will be compensated through the future profits.

Starting July 1, 2011, the customs control is lifted at the Russian-Kazakh border and is transferred further to the external borders of the Customs Union, where the control of goods and vehicles entering the Union will be carried out. The Customs Union comprises the Russian Federation, the Republic of Kazakhstan, and the Republic of Byelorussia, and the customs control will apply to goods and vehicles coming in from other countries, the press service of Ural Customs Administration reports. This is why three customs points are closed down in Magnitogorsk Customs area, namely, the railway

Experts from the Economic Analysis Center RIA-Analitika’s (a division of RIA Novosti) used Rosaviation’s data to compile a rating of Russian airlines based on the share of delayed flights in the total flight turnover in January-May 2011. The rating comprised all the companies whose data for Janaury-May 2011 were available to the experts. The flights were classed as delayed if they took off more than two hours behind the timetable. In the first five months of 2011, the companies that delayed most flights were Moskovia (18.7% of all flights were delayed), Kogalymavia (17.4%), North Wind

HLB Vneshaudit produced a report on the results of Uralkhimmash’s audit procedure. The news was carried by Oblastnaya Gazeta. We have not received sufficient proof and therefore cannot present a certain opinion as far as the following indicators are concerned: firstly, the additional capital within the statement of assets and liabilities as of December 31, 2010. The reason is that numerous instances of incongruence were found among the data provided, namely: the indices of the wear and tear recalculation are different from the indices applied to the recalculation of the main assets’ balance

Sverdlovsk Region Government suggested that A.V. Kushnarev, acting on behalf of Nizhniy Tagil Iron & Steel Works, and O. V. Sienko, acting on behalf of Uralvagonzavod Scientific Production Corporation, make sure their respective companies comply with the maximum permissible discharge limits set for the atmospheric pollutants. Such was the message of the government’s provision on the effectiveness of measures taken to reduce the negative impact the enterprises of Nizhniy Tagil and Kirovgrad have been making on the environment. It was recommended that the enterprises should comply with the

The net debt of Intera Group (a company that specializes in full-range O & G maintenance services) rose from $111.7m up to $143.6m in three months of the year 2011, the company’s quarterly report says. Integra’s revenues went up by 19.6% over the same time period and came to $223m. The capital expenses, which amounted to $19.7m by the end of March, increased as well, as the figure for January-March 2010 was only $13.9m.

Alfa-Bank recently completed the financial recovery of Bank Severnaya Kazna; the last stage of the recovery process consisted in merging Bank Severnaya Kazna with Alfa-Bank, Alfa-Bank’s press service reports. Data as to Bank Severnaya Kazna going into liquidation through a merger with Alfa-Bank have already been added to the Unified State Register of Legal Entities.

Promsvyazbank decided not to declare any share dividends for the year 2010; the decision to this extent was taken at the stockholders’ recent meeting in Moscow. It was also decided that some of the earlier years’ undistributed profits should be directed to covering up for the 378.15m RUR worth of losses the bank incurred in the financial year 2010.

Magnitogorsk Iron & Steel Works (MMK) was declared to have won the auction where the highest bidder was granted the right to use the subsoil resources of Kulmyakovsky iron ore deposit in Chelyabinsk Region for geological survey, exploration, and iron ore production, MMK reports. The deposit is located within forty km to the north of Techenskoye deposit. The ores contained in the deposit are scarnified-magnetitic ones varying from poor (26%) to rich (64%) kinds, available from the surface down to 450 m below the ground and identical in type to the ore of Sosnovsky deposit located in the

Magnitogorsk Iron & Steel Works (MMK) is trying to improve the quality of tin plate it produces; this was the main issue at the recent conference of processing companies in Magnitogorsk. Such meetings where the managers and experts from the company’s technical and sales divisios can meet the tin plate consumers have already developed into a tradition. About 35 participants from various parts of Russia and Byelorussia who represented some major companies that make packaging for the food industry and the paintwork materials attended the recent conference,’ MMK PR Department reports. The

Ural Airlines launched its new Yekaterinburg-Samarkand-Yekaterinburg flight today. Samarkand is one of the world’s most ancient cities, founded approximately in the middle of the first millennium BC. In 2011, UNESCO placed Samarkand on its World Heritage List as a Cultures Crossroads City. This is the home of the most remarkable masterpieces of the oriental architecture such as the Till-Kari Madrassah, the Ulug Bek Madrassah, and the Sher Dor Madrassah in Registan Square as well as the Gur Emir Masoleum, the Hodja Donier (Prophet Daniel) Masoleum, and other landmarks. The air carrier’s first

The Russian Government is planning to keep up with the prohibitive gasoline export duties in July, Energy Minister Sergey Shmatko told the journalists during the International Economic Forum in Saint Petersburg, ITAR-TASS reports. The available project of the provision means that a 90% export duty on gasoline will be retained,’ the Minister said, adding that the paper is still being considered by the government officials. Shmatko also explained that the Energy Ministry feels it’s best gradually – within two or three months’ time – to decrease the duties. A 90% customs duty is a temporary

The public prosecutor of Talitsa, Sverdlovsk Region, took personal control over the criminal suit that followed a fire in the local forestry; the incident did over 600,000 RUR worth of damage, the public prosecution authorities of Sverdlovsk Region report. It was detected that on May 19, 2011 a fire broke out at Sections 117-120 of Vnov-Yurmytskoye division of Talitsa Forestry due to some unsafe practices by an unidentified person. The fire covered the area of 49 hectares and damaged a number of pine trees within the area of 3 hectares. The damage was estimated at 609,600 RUR. The

Following an inspection aimed at checking the company’s compliance with the existing labor law and industrial safety regulations during the underground development of mineral resources deposits, Sevuralboksitruda (SUBR) had to face administrative liability, namely, pay a 200,000-ruble fine. The inspection was carried out by the experts of Rostechnadzor (the state industrial and technological safety watchdog) and the State Labor Inspectorate. It was revealed in the course of the inspection that the enterprise committed numerous violations of the existing labor protection laws as regards