UrBC, Moscow, January 31, 2017. The number of construction companies on the private housing co-operative market (Federal Act 214-FZ) that went bust doubled and reached 1.8% last year compared with the year 2015, Kommersant refers to RASK as stating. According to RASK, 149 companies out of 5,500 ones currently operating on the market are undergoing bankruptcy proceedings. The insolvent companies are leaving behind some 4.5m m2 worth of incomplete housing projects. Many of the developers are forced to declare themselves insolvent since they cannot get their projects commissioned: loans are

UrBC, Yekaterinburg, January 31, 2017. Sverdlovsk Region-based customers owe their electric power supplier EnergoSbyt Plus more than 14.3bn RUR in unpaid bills, the company press service reports. The overall debt amount exceeded 7.5bn RUR in early 2017, rising by 700m RUR in the course of one year; electric power debt exceeded 6.8bn RUR. ‘The power supplier is faced with the need to protect its interests and the interests of paying customers by all possible means. 1,111 claims (total amount: 4.908bn RUR) were placed with Sverdlovsk Region Arbitration Court last year, of which 583 claims

UrBC, Yekaterinburg, January 31, 2017. The average credit card limit amount went down from 61,114 RUR on January 1, 2016 to 52,691 RUR on January 1, 2017 (-13.8%) for Sverdlovsk Region-based cardholders, National Bureau of Credit History’s press service reports. According to the Bureau, 68.6% of cardholders actually used up their entire credit card limit in the last quarter of 2016 (+8.1% on the third quarter). Credit utilization rose most noticeably in Kamchatka (+40.9%), Kursk and Belgorod Regions (+36.3% and 34.4%, respectively) and dropped most visibly in Kalmykia (-15.4%), Altai

UrBC, Yekaterinburg, January 31, 2017. The international aircraft giants Boeing and Airbus might no longer be buying titanium from VSMPO AVISMA, Verkhnyaya Salda, President of Ural Chamber of Commerce & Industry Andrei Besedin says. ‘Both Titanium Valley and the Mid-Urals Development Corporation, as well as Sverdlovsk Region Ministry for Investment & Economic Development, are painfully aware of where our negotiations with Boeing and Airbus are going. The time is coming when they won’t need our titanium any longer, as their entire designer teams are working to switch to completely new

UrBC, Moscow, January 31, 2017. ChTPZ Group recently launched a trainee program to invite promising students and undergraduates onto their plants, the company press service reports. Over fifty students from Bauman Moscow State Technical University, National University of Science and Technology, Gubkin Russian State University of Oil & Gas, Higher School of Economics, and Ural Federal University have already been enrolled. They are currently working through their internships in Moscow, Chelyabinsk, and Pervouralsk as engineers, white-collar professionals, and managers. ‘The trainees are