RusRating confirmed credit ratings of Russian banks on February 1, 2008. SKB-Bank’s credit rating was confirmed at BB-, which is better than the rating of many large Moscow-based banks. SKB-Bank’s rating was originally confirmed by the agency at B+ in August 2006 and was promoted to BB- in July 2007. The agency’s analysts say SKB Bank’s rating is based on the fact that SKB-Bank is a medium-sized provincial bank (one of the largest in Sverdlovsk Region, though) that has been cooperating intensely with the region’s authorities for a long time. In addition, it can boast a well-developed

According to the rating of unit investment trusts as of January 31, 2008, the share price of Rus-Capital-Neftegas (Rus-Capital Management Company) went down by 17.08% between January1, 2008 and January 31, 2008.

Central Bank of Russia reports volume of loans given by VUZ Bank to sole traders for 181 days to 1 year went down by 21.99% (from 100.568 million RUR to 78.454 million RUR) in January-December 2007.

The value of net assets of Energy – Mixed Investments (the unit investment trust) managed by Eurogreen Management Company Ltd. went down by .35% between January 29, 2008 and January 30, 2008. According to Eurogreen’s website, the company’s net assets decreased from 3,000,884.18 RUR on January 29, 2008 to 2,990,409 RUR on January 30, 2008.

This February, the division of Rostechnadzor (the state technological, environmental, and nuclear safety watchdog) in Ural Federal District is going to inspect a number of companies operating in the Urals, their press officer reports. Among these companies are Koltsovo airport of Yekaterinburg, Sverdlovsk Region Railways, Sverdlovskavtodor, Zavod RTI, and some others. It has been reported that 70% of these inspections are scheduled ones, while the remaining 30% are necessitated by some specific purposes. In addition, the inspectors intend to check the enterprises’ compliance with their

Nizhniy Tagil Iron & Steel Works (part of Evraz Group) is planning to fully upgrade its railway-wheel facilities in 2008. The final stage of the reconstruction includes restoration of the shop meant for thermal treatment of wheels, the spokesperson for Evraz Group said to UrBC. At the end of 2007, the enterprise signed a special agreement with a German firm regarding the delivery, assembling, start-up and commissioning of the new equipment. After the project has been completed, the company will become capable of giving thermal treatment to about 100 railway wheels an hour. This thermal

'The current market situation shows that mortgage loans are enjoying increasing demand as far as customers are concerned. Banks, on their part, are trying to limit the number of low-quality loans as well as offer them to the people with the most dependable paying capacity,’ Ural Treasures Bank’s Mortgage Loans Sales Director Olga Naumova said to UrBC. The Mortgage Lending Agency modified the standards of offering, refinancing, and servicing of mortgage loans. For instance, mortgages provided by banks after January 31, 2008, aren't subject to refinancing given that the sum of the

Central Bank of Russia reports volume of for-profit self-regulatory organizations’ deposits in SberInvestBank valid for 1 to 3 years went down by 12.38% (from 21 million RUR to 18.4 million RUR) in January-December 2007.

'The recent 19% downfall of RTS index was followed by a 7.5% rise, whereupon it dropped again by over 6%, which resembles a saw-like pattern,’ SKB-Bank’s Trading Operations Director Evgeniy Batuyev said to UrBC. 'I would expect the market to gain only slightly positive dynamics in the nearest future, since a lot of experts believe events will be influenced by the current imperfect state of the U.S. economy (an economy that influences global affairs a lot). There is no reason to panic, however, recession is not very likely,’ he added. 'It’s also true, though, that the Federal

Uralfinprombank raised the down payment on the mortgages it offers from 10% to 30% of the whole sum in January 2008, the bank’s Borrowing Capacity Assessment Department reports. Uralfinprombank explains this has to do with the recent changes adopted by the Mortgage Lending Agency that came into effect on February 1, 2008. The Mortgage Lending Agency modified the standards of offering, refinancing, and servicing of mortgage loans. For instance, mortgages provided by banks after January 31, 2008, aren’t subject to refinancing given that the sum of the loan exceeds 1.5 million RUR and the down

This year, one of Nizhniy Tagil Iron & Steel Works’ converters is expected to reach its full capacity thanks to the reconstruction of the oxygen converter shop, the spokesperson for Evraz Group said to UrBC. Throughout the year, the company is planning to upgrade two more steel-smelting unit. The first one will probably be shut down for reconstruction as early as March 2008, while the equipment for the second converter is already being shipped by European and Russian machine-building enterprises and the converter shop is being prepared for the reconstruction process. The improved

Central Bank of Russia reports volume of loans given by Universal Bank to natural persons for 181 days to 1 year went down by 43.74% (from 23.436 million RUR to 13.186 million RUR) in January-December 2007.

According to the ranking of unit investment trusts as of January 30, 2008, the share price of Alfa Capital Sbalansirovanniy (Alfa Capital Management Company) went down by 5.16% between January 1, 2008 and January 30, 2008.

United Company RUSAL invested about $1.6bn in business diversification and production facilities development in 2007, the company’s spokesperson reports. Last year, RUSAL acquired 25% plus one share of Norilsk Nickel ore mining and processing enterprise from ONEKSIM Group in order to lay the foundation for Russia’s first global diversified mining and metallurgical enterprise. In addition, the company bought the controlling shareholding of Alscon aluminum plant in Nigeria. All the necessary equipment has been installed and is now being tested. The plant will probably have been launched in

According to the Central Bank of Russia, volume of loans given by Pervouralsk Joint Stock Commercial Bank to natural persons for 91 to 180 days dropped by 56.99% (from 193,000 RUR to 83,000 RUR) in January-December 2007.

A number of chain stores (including Eldorado, Technosila, and M.Video) dealing in home appliances and consumer electronics are suffering losses at the moment as they are unable to offer any new products for sale. Most of their assortment is four to six weeks old, even though most of the goods in stock were sold during the winter holiday season. According to UrBC’s own sources, the stores are experiencing some problems with the range of products due to the fact that the goods (imported from abroad) can’t seem to pass through the customs.

Central Bank of Russia reports volume of for-profit self-regulatory organizations’ deposits in VUZ Bank valid for 1 to 3 years plummeted by 97.45% (from 38.5 million RUR to 980,000 RUR) in January-December 2007.

'A lot of criminal suits involving United FX — Traders Group have been filed recently upon the numerous applications of the company’s victims,’ acting deputy head of Sverdlovsk Region Department of Internal Affairs Sergey Kupratsevitch said to UrBC. This Saint-Petersburg-based company, with branches in Moscow, Yekaterinburg, and a number of other cities, dealt in trading operations on Forex foreign exchange market using the money of private investors, who had to bet between $1,000 and $100,000 to get the promised 30% to 200% in terms of annual interest. The company made the market

Central Bank of Russia reports volume of loans given by SberInvestBank to sole traders for 181 days to 1 year went down by 100% (from 10.95 million RUR to zero).

'Kupets, the supermarket chain store operating in Yekaterinburg, is willing to sell up to 50% of its shares to a portfolio investor,’ Falcon Advisers’ Managing Partner Igor Kovanov said to UrBC. 'We intend to find the potential buyer before the end of March 2008, while the transaction we believe is likely to go through by the end of June 2008,’ he added. 'We cannot come up with any precise evaluation of the share price yet, but I’d say something between $150-$220 sounds pretty close,’ Mr. Kovanov observed.