Cyprus-based Monsource Limited now controls 95.38% of UralElectroSetStroy’s shares, the issuer’s report states.

Sky Express is not going to operate any flights from Yekaterinburg to Moscow and back on October 18-22, 2011; the airline is already giving the money back to customers. The air carrier’s Yekaterinburg representation was unable to provide UrBC with any comments as to the reasons for the decision taken by the company. The airline’s Moscow office explained that the flights would most likely not be operated until November 29, 2011; they would be resumed in the future, but fewer flights would be offered than before.

The Russian power suppliers keep commenting on the Russian Government’s decision to halt the growth of heating and electricity rates. The decision not to let the rates grow will affect the implementation of our investment program. We cannot produce any precise figures before the decisions as to the rates have been finalized. One could suppose that the scale of next year’s investment will be approximately the same as this year’s figures, rather than the increased ones initially planned by the company. We will have to cut back considerably on reconstructing the currently used facilities, but we

Standard & Poor's placed the Russian cosmetics manufacturer Concern Kalina’s ruA+ national scale credit rating on CreditWatch, with Positive rating outlook. The company’s rating is badly affected by the great competition on the Russian cosmetics and personal hygiene items market as well as by the relatively poor geographical diversity and its small business volume (small compared with its foreign rivals). We feel the additional risks arise from the company’s insufficient liquidity indicators, its susceptibility to currency risks, low financial flexibility, and poor free CFO

The Forbes magazine carried an article on a foreign exchange trader Alexei Kalinichenko, who is now kept in a detention ward in Yekaterinburg. According to the inquiry committee, the man set up a pyramid scheme and took advantage of over 4,000 people residing in various parts of Russia, Kazakhstan, Germany, Byelorussia, Ukraine, and Latvia, doing them a total of over 1bn RUR worth of damage. The article, entitled ‘Ural Pyramid: A Story of the Millennium’s Greatest Fraud’, mentions the viewpoint of the suspect himself, who claims he became a victim of his business partners in Russia. Alexei