The international rating agency Moody’s demoted its forecast for the Russian banking system’s development from Stable to Negative, the agency reports. ‘Downgrading our forecast to Negative reflects our concerns that the global economic conditions and the financial markets’ volatility might weaken Russia’s operating environment and affect the banks through a general drop in liquidity, a slowdown in the lending activity, and a pressure on the assets quality,’ Moody’s says. The Negative forecast means the agency expects these changes to occur over the next twelve to eighteen months.

The recent meeting of Sverdlovsk Region Enterprises Support Committee was dedicated to the local defense enterprises Ural Mechano-Electrical Plant, Ural Transport Machine-Building Plant (UralTransMash), and Ural Civil Aviation Plant. Deputy Head of Sverdlovsk Region Government Alexander Petrov explained that all those enterprises depended on state orders and on the terms of payment for the produce. Still, the committee was interested in the companies making all the necessary payments to the treasury, especially corporate income tax. It turns out most plants have an opportunity to make more

Another recent emergency landing performed by UTair Airlines plane in Tyumen is now being investigated. The incident occurred at 6:30 AM local time (4:30 AM Moscow time) on October 22, 2011. The captain of ATR 75 flying from Tyumen to Nizhnevartovsk asked for an emergency landing due to generator failure. There were thirty-six passengers and four crew members on board, Ural Investigative Administration for Transportation reports to Russia’s Investigative Committee. The landing was performed successfully, and no one was hurt. According to the investigative committee chairman, the emergency

The stockholders of Concern Kalina are going to consider the early termination of BOD members’ powers in the course of an extraordinary general meeting. In addition, they plan to elect the new BOD members and approve of the company’s newly edited charter. The EGM has been scheduled for January 16, 2011. Now it was announced on October 14, 2011 that Unilever and Kalina signed an agreement; the former is to buy 82% of the Yekaterinburg-based cosmetics manufacturer’s shares for approximately 16.7bn RUR (?390m).

Avto Land’s trustee in bankruptcy V.G. Sivoplyasov announced that the auction aimed at selling the company’s assets (tires, automobile spare parts, tools, repair machinery and materials) did not go through as there were no bidders for the auction. Among the assets put up to auction were tires, spare parts for Jaguar, Ford, Mazda, and Volvo automobiles, tools, and repair machinery and materials, all in accordance with the list. The assets were offered in a single lot, the opening bid was set at 8.82m RUR.

‘We feel quite positive about MMK Group’s production performance,’ UFS Investment Company reports. ‘The fact that the group’s Turkey-based enterprise is about to reach its projected capacity means the year’s output will increase considerably. In the meantime, the main production site shows some signs of recovery after a not so successful first half of the year. We expect the company to reach its target sales figures and its financial results to be comparable with the forecasts due to growing produce prices,’ the experts say. MMK Group came up with its operational results for the third quarter