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

Rosaviation annulled the aircraft operator’s license of UraiAvia (Khanty-Mansiysky Autonomous Region), the agency informed Interfax. The decision to annul the license was taken after an inspection that revealed the fact of UraiAvia not meeting the license requirements. The airline stopped operating and cannot perform any services now,’ Rosaviation explained.

Relocating from the center of Yekaterinburg to the premises of Ural Chemical Reagents Plant based in Verkhnyaya Pyshma, Sverdlovsk Region in 2007 affected the non-ferrous metals processing plant’s performance: the company is no longer the leader on a number of markets, and its staff was reduced by 10% as well, the plant’s Director-General Denis Borovkov told reporters recently. The plant is to celebrate its 95th anniversary this year. The company has now gone back to its full pre-relocation capacity, which took us three years, and the enterprise is now prepared to become the branch leader

Pipe Metallurgical Company (TMK) set up a trade representation in Tashkent, Uzbekistan. The trade representation was set up to ensure more effective cooperation with the country’s oil and gas enterprises. The new representation is also an important step for the development of trade and economic ties with Uzbekistan and for promoting TMK’s produce on the local market.

The chassis of UTair’s ATR42 airplane were damaged duringlanding in Tyumen Airport. According to the captain, some vibration started after the plane hit the ground and was gradually slowing down on the landing strip. After the plane completed the stop, it was taken to the parking lot and examined, and it was discovered that there were ruptures in both pneumatic supports at the front of the chassis,’ Assistant to Tyumen’s Public Prosecutor for Transportation Anatoly Orlov told Interfax-Ural. No harm was done either to the twenty-three passengers or to the three crew members on board.

Uralkhimmash BOD decided to terminate the authority of the company’s Director-General Vladimir Kulakov before the end of his term, so his contract was annulled. Sergey Tsarapkin was elected the enterprise’s Director-General for one year. Tsarapkin was also allowed to retain his current positions in the management of the company’s affiliated enterprises.

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.

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

The 17th Arbitration & Appeals Court rejected the claim of KESKO-Ural; the plaintiff actually contested the ruling pronounced by Sverdlovsk Region Arbitration Court earlier. In July 2011, Sverdlovsk Region Arbitration Court refused to meet the claims of KESKO-Ural (the Novotel Hotel) laid against Zoom Zoom Photographers; the plaintiff insisted on being paid 223,000 RUR by the defendant. At the start, KESKO-Ural refused to pay Zoom Zoom Photographers their fee for taking a photo shoot of the Yekaterinburg-based Novotel Hotel’s interior. The photography business took the case to an

Governor of Sverdlovsk Region Alexander Misharin supported the Russian Ministry of Foreign Affairs’ application for the establishment of the Israeli Consulate-General in Yekaterinburg. In his letter to the Foreign Affairs Minister the Governor stressed that this step would promote Russia and Israel’s economic and cultural cooperation. The Consulate-General is expected to be based in Yekaterinburg and to service Kurgan Region, Sverdlovsk Region, Tyumen Region, Chelyabinsk Region, Khanty-Mansiysky Autonomous Region, and Yamalo-Nenetsky Autonomous District. The corresponding agreement will come

The general contractor involved in the construction of Yekaterinburg-EXPO exhibition center, Rusgrad is to take its case to Sverdlovsk Region Arbitration Court, demanding that its customer Ural Exhibition Center be forbidden to acquire any ownership rights over the center in question. Another claim has to do with the money the customer still hasn’t paid the contractor for the job done, Rusgrad’s Director-General Stanislav Dresvyankin told the reporters in the course of a meeting with the customer’s representatives and the contractor companies. Rusgrad reports the company cannot get the money