November 26, 2013. The 4th meeting of the Russia-Turkey Cooperation Council took place in Saint Petersburg on November 22. The Council was set up in 2010 to coordinate a number of important political, trade and economic, and cultural and humanitarian projects. The meeting was attended by President of the Russian Federation Vladimir Putin and Turkey's Prime Minister Recep Erdoğan, who arrived in Russia on business at Putin's invitation. The meeting included a business breakfast attended by Chairman of Magnitogorsk Iron & Steel Works (MMK) Viktor Rashnikov. 'We keep building

November 26, 2013. The 4th meeting of the Russia-Turkey Cooperation Council took place in Saint Petersburg on November 22. The Council was set up in 2010 to coordinate a number of important political, trade and economic, and cultural and humanitarian projects. The meeting was attended by President of the Russian Federation Vladimir Putin and Turkey's Prime Minister Recep Erdoğan, who arrived in Russia on business at Putin's invitation. The meeting included a business breakfast attended by Chairman of Magnitogorsk Iron & Steel Works (MMK) Viktor Rashnikov. 'We keep building

November 26, 2013. Sverdlovsk Region division of State Construction Surveillance Service conducted an on-site inspection of the developer UIT Uralstroy and detected violations of the federal legislation on the participatory lending construction of apartment buildings and other estate types, the division’s press service reports. At the time of the inspection, UIT Uralstroy is putting up two apartment buildings with non-residential space on the first and second floors and a half-built-in parking lot and a transformer substation in the place of another, half-finished building that is to be

November 26, 2013. Bank Koltso Urala was rated Sverdlovsk Region’s 3d and Russia’s 88th most profitable banks in the nine months of 2013. On Monday, November 25, Banki.ru’s experts carried a analytical report based on the financial performance data from 939 lending institutions, Bank Koltso Urala’s press service reports. Bank Koltso Urala made it to the local top three and the nation’s top 100 with the net profit of 504.556m RUR (as of October 2013). The bank’s financial performance improved by more than two times (101.23%) compared with a year earlier and let the bank move up by 48 positions

November 26, 2013. Uralmashzavod is going to hand over to Gazprombank Asset Management 5,000,000,023 RUR worth of shares, the issuer’s official statement goes. Under the terms of the agreement, Uralmashzavod will transfer 74,917,591 ordinary registered uncertified shares of the additional issue 1-01-00297-А-002D with face value of 0.5 RUR each to the daughter company of Gazprom (the plant’s majority shareholder) via close subscription. The offering price is 66.74 RUR. The deal is estimated to come to 27% of the issuer’s assets value.

November 26, 2013. Omsk-based airline ORENAIR is going to start operating direct flights to Germany during next year’s spring/summer season. The tickets for Yekaterinburg-Hannover-Yekaterinburg flights are already available for sale, the press officer of Yekaterinburg Koltsovo Airport reports. It was announced on November 8 that the German company Lufthansa that operates direct flights from Yekaterinburg to Frankfurt will no longer offer this flight starting from next year due to the need to cut costs. Koltsovo Airport said then that they were planning to keep offering this destination and

November 26, 2013. United Company RUSAL is planning to freeze aluminum production at the 6th section of Bogoslovsky smelter (BAZ) in Krasnoturyinsk, Kommersant refers to the company’s press service as saying. The electrolysis production is expected to be resumed ‘after the economic situation gets better’. At the moment, the high prime cost of metal production at BAZ ($2,100 per 1,000kg) makes aluminum production unprofitable, as the prime cost of aluminum is $1,700 per 1,000kg. RUSAL froze the aluminum production at Ural smelter in Kamensk-Uralsky earlier, as well as cut back on aluminum