UrBC, Yekaterinburg, October 4, 2011. ‘Russia has great intellectual resources, but its economy is 75% to 80% raw materials-based, which is not a good thing. The country needs alternative innovation projects for its economy to get upgraded,’ Bank Inteza’s BOD Chairman and Head of Inteza Sanpaolo Russian representation Antonio Fallico announced at a press conference in Yekaterinburg. ‘The Urals are not undergoing the troubles that are as serious as in Greece. There is no unemployment, and you can afford a little more that is absolutely necessary. The currency war does exist, and it will go on.

UrBC, Moscow, October 4, 2011. Moscow Arbitration Court ruled in favor of the decision taken by Russia’s Federal Antimonopoly Service: the agency did not allow Ural Mining & Metallurgical Company (UMMC) to take over Revda-based non-ferrous metal processing plant called RZOTzM, the Russian Agency for Legal & Court Information’s representative reports from the court room. UMMC asked the FAS to agree to the company buying 100% of Cyprus-based Shatravan Holdings Limited (the plant’s primary owner), but the agency rejected the application in October 2010, whereupon UMMC took the case to

UrBC, Yekaterinburg, October 4, 2011. It has not been decided yet to what degree and in what ways Bank Inteza is going to join the projects involving the construction of a high-speed Moscow-Yekaterinburg railway link and of an orbital motorway around Yekaterinburg. The negotiations are currently at the budding stage, the bank’s BOD Chairman and Head of Inteza Sanpaolo Russian representation Antonio Fallico announced at a press conference in Yekaterinburg. ‘There is also the financial aspect to consider, these projects are not about free resources, after all. We still make some money, even

UrBC, Moscow, October 3, 2011. The telecommunications provider MegaFon launched its Content Delivery Network that is currently unique to Russia. The network allows its users to access the global content resources, and one of its applications will consist in broadcasting the winter Sochi 2014 Olympics all over the world, MegaFon’s press service reports. The CDN unites servers located in big Russian cities into a single infrastructure, which makes it possible to speed up data download for end users, prevent holdups during data transfer and possible disconnections and data loss on busy channels,

UrBC, Yekaterinburg, October 3, 2011. Alexander Zhugrin is no longer the director of Refinskaya Power Station (the asset of Enel OGK-5). The station will now be run by Oleg Kosmenyuk, former Director-General of Maikuben West (Kazakhmys Corporation, Kazakhstan). Oleg Kosmenyuk is forty-one years old and was born in Asbest, Sverdlovsk Region. He later studied and worked in Kazakhstan.