Senior Vice President of Russian Railways Valentin Gapanovitch had the technical specifications for the new SinaraHybrid coordinated. The new shunting locomotive with TEM9H hybrid power equipment will be developed by the engineering company STM Innovational Development Center (part of Sinara Transport Machines). This is going to be an eight-wheel locomotive with electric alternating current transition and a direct wheel drive with the total capacity of 1,200 hp. The locomotive will be fitted with lithium-ion energy storage units and ultracondensers. The hybrid loco will also be more

OOO Sun Fruit applied to Sverdlovsk Region Arbitration Court, asking to declare Tonus soft drinks plant bankrupt, the court’s press officer reports. The plaintiff says the defendant owes the company 1.46m RUR, $14,680, and ?18,640 and insists that the debtor, Tonus soft drinks plant (tax payer number 6662001230) be declared insolvent. As the plaintiff failed to provide the court with all the documents needed to take legal action, the case is for now left to rest.

The retail lending portfolio of BNP Paribas Vostok that is closing down its classic retail services in Russia was sold to Bank Uralsib. The company made the best bid in the course of the tender. Paying a bit more for the asset made certain sense: Uralsib is currently falling behind its competitors in terms of retail segment growth, so now it will be able to both build up on its lending portfolio and improve its deposit base thanks to the French banks’ customers,’ Kommersant reports. According to a report produced by BNP Paribas Vostok, the company’s lending portfolio amounted to 1.3bn RUR on

The court of Milan had the assets of Italy’s leading bank UniCredit worth ?245m arrested; this was done within the framework of an investigation that aims to see if the bank avoided paying taxes in 2007-2008. The Italian police suspect that the fraudulent scheme was suggested to UniCredit by the British Barclays, RBC daily reports. Judge Luigi Varanelli told The Wall Street Journal that the assets arrested equal to the profits made by the bank in 2007-2008 and not paid to the state budget. The police believe that UniCredit had its tax declarations deliberately altered for the purposes of tax

Russia’s Federal Antimonopoly Service declared the advertisement run by IKEA via Domashniy, Rossiya, Pyatyi TV channels in Moscow, Saint Petersburg, Kasan, Nizhniy Novgorod, Novosibirsk, Yekaterinburg, Rostov-on-Don, Krasnodar, Omsk, and Kemerovo in January 2011 to be in contradiction with Article 5 (part 4, paragraph 1) of the Federal Advertising Act. The advertiser IKEA DOM was ordered to stop the offense. All the files relating to the case were placed with the Service’s executive so that an administrative suit could be instituted and a fine imposed on the offender.