Russian Railways Public Company’s Senior Vice President Valentin Gapanovitch presented the first Russian technologically innovative locomotive with an asynchronous traction drive called SinaraHybrid (TEM9N) at Rizhskiy Railway Station in Moscow, Russian Railways’ press service reports. The presentation of the loco was made on the eve on the international conference on converging the technical regulation systems within the Round Table of Russia and the EU Union of Industrialists and Entrepreneurs. The loco was designed by CTM Innovational Development Center (a member of Sinara Transport

Sverdlovsk Region Arbitration Court postponed the hearing of MDM Bank against Uralchermetavto and Avtoland Sever till May 14, 2012. The bank insists that the companies pay it over 206m RUR. ‘After the court had announced it was about to start looking into the evidence, it turned out that the plaintiff never provided a single written proof of its case, either in the original or in the properly authorized copies. This circumstance makes considering the case difficult: the case lacks any evidence whatsoever. The plaintiff submitted its claim electronically; therefore all the evidence was placed

Uralburmash’s stockholders decided not to pay any dividend for 2011 in the course of the annual general meeting, the company reports. It was reported that the company made 912,950 RUR worth of net profit (calculated in accordance with the Russian Accounting Standards) last year. The retained net loss (calculated in accordance with the Russian Accounting Standards) amounted to 431,270 RUR. This means that the enterprise’s retained net profit came to 481,670 RUR on January 1, 2012. The plant reports its shareholders agreed with the BOD’s recommendation to direct the retained profit into the

Uralmedstroy (UMMC) is calling off its claim against Castorama RUS from Sverdlovsk Region Arbitration Court, the papers relating to the case available via the court’s website state. Now the two parties got involved in the legal proceedings prior to the opening of Castorama store in Yekaterinburg. The developer insisted that Castorama RUS pay them 5.16m RUR.

The net profit of OAO Vympelcom, one of Russia’s largest wireless carriers, decreased by 20.8% in the first quarter of 2012 compared with the first quarter of 2011. The figure, calculated in accordance with the Russian Accounting Standards, came to 14.47bn RUR, the company reports. At the same time, the company’s revenues rose by 10% and came to 65.65bn RUR.