Bank CIT Finance closed down its offices in Kazan, Nizhniy Novgorod, and Surgut on March 7, the bank’s press release states. Customers whose needs have not been met will be serviced through contractor banks. VTB24 will be accepting all the payments, while Bank Uralsib will be paying back the deposits and the interest rates, CIT Finance’s release says. Once these three offices have been closed, the bank will be running outlets in six Russian cities: Moscow, Saint Petersburg, Rostov-on-Don, Yekaterinburg, Ufa, and Novosibirsk, Interfax-AFI reports.

Russia’s Federal Financial Markets Service decided to annul the license entitling Moscow-based Deutsche Bank to acting as a specialized depositary of investment funds, share investment funds and non-state pension funds. The decision was taken after the organization had submitted an application to this effect and provided proof of having no unmet obligations relating to its professional activity.

Accounts Chamber of the Russian Federation intends to investigate the efficiency of tax relief schemes offered to RUSAL, says the chamber’s head Sergey Stepashin. ‘We’ll just look at the preferential terms they enjoy, if any, as well as at tax relief and and how efficiently they are using these tax relief schemes in the operation of their Irkutsk-based enterprise,’ Prime quotes Stepashin as saying. Now Deputy Andrei Krutov pointed out at the State Duma Budget & Tax Committee meeting (dedicated to the Accounts Chamber’s performance in 2011) on Tuesday that tax revenues coming from RUSAL’s

The net loss of OAO Mechel (calculated in accordance with the Russian Accounting Standards) amounted to 19.674bn RUR in 2011 (compared with 42.929bn RUR in 2010), the company’s report says. The company’s revenues shrank by 5.6 times and amounted to 8.51bn RUR, while its gross profit decreased by 5.3 times and came to 7.7bn RUR in 2011. The enterprise’s pre-tax loss reached 20.08bn RUR last year against 42.03bn RUR worth of profits in the year before.

Chelyabinsk Region division of Rosprirodnadzor detected fourteen violations of the existing environmental law while inspecting ZAO Uralbroiler, the environmental agency’s press service reports. The company was given orders to eliminate the violations. The enterprise is now involved in eight administrative lawsuits.

The mobile carrier MegaFon and Yota signed an agreement on the joint development of Long Term Evolution (LTE), the fourth-generation mobile communication service, in Russia; this LTE will be based on the business model employed by MVNO, Mobile Virtual Network Operator, MegaFon’s press office reports. Under the terms of the agreement, MegaFon will be able to provide the fourth-generation LTE communication services using Yota’s equipment, while Yota will be able to use MegaFon’s network infrastructure.

Extra Balance Corporation no longer has a stake in OAO Oil Plant. According to the data provided by the Republic of Seychelles-based company, the corporation used to hold a 10.498829% shareholding in this Yekaterinburg-based plant.

Before 2020, it is most expedient to work on the high-speed railway link headed for the Urals (the so-called VSM 2 meant for passenger trains traveling at the speed of up to 350 to 400 kph) on the Nizhniy Novgorod-Kazan-Yekaterinburg section, Interfax refers to the interdepartmental work team in charge of VSM 2 development as reporting. The section connecting Moscow and Nizhniy Novgorod will become even speedier in the future, before 2030. Starting July 30, 2010, Sapsan trains travel this route at the speed of up to 240 kph. What is more, by 2020 the high-speed VSM will connect Moscow and

Ford is interested in doing business with MMK; this news was announced at a final meeting at the end of technical audit procedures conducted by experts from Ford’s European representation at Magnitogorsk Iron & Steel Works (MMK). For two days, a group of Ford experts and experts from the company’s Russian division Ford Sollers were busy at MMK. The audit involved all of the enterprise’s main divisions and departments related to production of metal goods for the automobile industry. The visitors inspected MMK’s oxygen converter shop, where they could get acquainted with slab production and

Ural Airlines came up with a special spring time offer for women: they can benefit from lower prices for tickets from Nizhniy Novgorod, Samara, and Yekaterinburg to Yerevan and back. Starting March 5, 2012, members of the fair sex can book tickets to Yerevan with a 20% discount on the rate applied (plus airport and air carrier’s charges). The offer is valid for all of the airline’s flights operated between March 8 and April 7, 2012, the airline’s press service reports. Tickets to all destinations are available via the air carrier’s official website www.uralairlines.com as well as in the

Chelyabinsk Tube Rolling Plant, Pervouralsk New Pipe Plant, and the O&G division Rimera Group’s asset dealing in manufacturing of pipe bends were rated, respectively, the 2nd, the 3d, and the 12th best companies on the list of Russia’s Economic Leaders 2011 (in the cast iron and steel pipe manufacturing category under the standard industrial classification of economic activities). The rating was compiled by an NGO called the All-Russian Business Rating on the basis of the official data provided by Russia’s state-run statistical bodies; the rating involved 646,000 companies which finished

Ural Federal District division of Russia’s Federal Financial Markets Service conducted an office audit of Revdinsky Non-Ferrous Metals Processing Plant in order to see whether the plant complies with the Russian securities legislation in what regards information transparency. The audit revealed a number of violations, so the joint stock company was sent an order to eliminate these.

According to the data provided by the analytical agency Auto Dealer Yekaterinburg, 5,240 new passenger cars were sold in Yekaterinburg in January 2012; this was 27%, or 1,113 more automobiles than in January 2011. Lada remained the market leader both this January and the previous one. At the same time, the Russian brand’s sales keep going down on Yekaterinburg market: the figures dropped by 13% in January, which was the worst dynamics among the top ten best-selling brands in the first month of the year. In fact, the foreign brands with Russia-based facilities for the production of economy

The first facilities in The Industrial Urals-The Polar Urals Project’s railway and power network will be commissioned in three to four years, the Geology & Ore Mining Production Director of Development Corporation Dmitri Baskov told Oblastnaya Gazeta. Last year, we ensured the construction of infrastructure for Purpe-Samotlor pipeline and started building a bridge across the River Nadym; we are also working on a whole series of projects for the power sector. In the future, all of this will result in lower rates, increased economic appeal of the northern territories, the development of

Kamensk-Uralsky Metallurgical Plant’s stockholders decided to increase the company’s authorized capital by eight times, from 1.35m RUR to 10.81m RUR. This decision was made at an extraordinary general meeting. The capital was raised through an additional issue of 18.91m ordinary registered shares; these were offered by private subscription and only to the plant’s stockholders.

All the bonus-entitled members of Ural Airlines Aviation Company’s Wings Club who joined the loyalty scheme after January 1, 2012 can get bonus points for flights operated three months before their registration with the club. This means the newly joining members will receive, in addition to 500 welcome bonus points, points for Wings Club pre-membership time flights, the airline’s press service reports. To have the flights bonus points added to one’s member account, one only needs to fill in an application for bonus rubles via the company’s website at All members of the air carrier’s bonus

Ural Airlines is launching a special offer on the company’s flight from Novosibirsk to Guangzhou and back. Between March 3, 2012 and April 4, 2012 all those willing to do so can book their tickets for this flight for ?249 (plus airport and air carrier charges). The offer is valid for all of the airline’s flights operated between March 3 and April 4, 2012, the airline’s press service reports. Tickets are available via the airline’s official website www.uralairlines.com as well as in the booking offices.

Russian Railways Public Company is not going to finance a rail welding production facility project the rails for which are to be manufactured at Mechel Group’s Chelyabinsk Iron & Steel Works (currently under construction), the company’s head Vladimir Yakunin told reporters in Chelyabinsk. ‘We have been considering our need for producing 100-meter rails for a long time. No such rails are manufactured at our facilities, especially no rails of such quality. Under our standards, a continuous welded rail requires 800-meter rails. The enterprise that is being put up next to the plant will weld

Yet another meeting of Sverdlovsk Region Arbitration Court regarding the claim of Concern Kalina’s minority shareholder Igor Platonov took place in Yekaterinburg recently. Platonov placed a claim against VTB Registrator with Sverdlovsk Region Arbitration Court, asking to declare the writing of 2,844 ordinary shares of Concern Kalina (face value 70 RUR) off his account invalid and to restitute the shares onto his personal account. Platonov claims that the writing off, which took place on November 15, 2011, was done illegitimately and without his consent. VTB Registrator provided the court with

The vehicle operators of Yekaterinburg-based Concern Kalina are protesting against the layoffs that they feel are unlawful, their representative and Managing Partner of YurLiga Ivan Volkov told UrBC in all the detail. ‘There are twelve protesters, many of whom have worked for the company for over thirty years. The long-haul truck drivers had a salary of 13,000 RUR plus a 13,000 RUR monthly bonus if the employer felt like it. Now they have been fired. They were accused of entering exaggerated figures in their speedometer logs throughout the year 2011 in order to hoard fuel. However, no proof