The rating agency Moody’s demoted Uniastrum Bank’s long-term deposit rating outlook to Negative due to the demotion of the bank’s parent enterprise Bank of Cyprus’s rating, RBC daily reports. The bank’s long-term deposit rating given by Moody’s has been affirmed at Ba3, but the rating outlook has been changed from Stable to Negative. The agency’s analysts report the outlook had to be reconsidered because of the problems faced by the parent company Bank of Cyprus that owns 80% of Uniastrum Bank. The former proprietors Gagik Zakaryan and Georgy Piskov own a 10% shareholding each. Moody’s

Sverdlovsk Region does not need to buy automobiles like the one purchased for Governor Alexander Misharin, with the back-rub-in-the-back-seat option. We have other, more pressing social needs to meet, for example, offer housing to orphans,’ says the regional public prosecution authorities representative Maria Protasova. Now Sverdlovsk Region Arbitration Court Justice Maria Toporova refused to sustain the claim laid against the region’s Governor; the case had to do with the purchase of a premium class automobile for him. The prosecution authorities insisted that the purchase of this Mercedes

VUZ-Bank now performs transactions involving the Chinese currency. The bank’s business customers can now enjoy clearing settlements, including exchange of currency, opening and closing of the transaction export and import passes in the Chinese yuans. This means the bank’s customers can make yuan payments to their partners in China promptly and inexpensively. The Chinese economy is now one of the world’s most dynamically developing ones, the Chinese national currency has an important role to play on the global financial market, so there is every reason to believe that the need for yuan

The Russian automobile market’s growth had a dramatic slow-down in July 2011, says the European Business Association that provided the data on the new car sales in Russia. The second half of the year started off with a noticeable growth drop, as the sales only increased by 27% (224,600 cars) against 40% in June 2011. In July, the greatest share of cars (50,500) was sold by AvtoVAZ as usual, yet Lada sales declined by 3% for the first time since the end of the recession. As for foreign automobiles, Chevrolet is still the market leader, with its increase in sales coming to 76% (15,800 cars).