Sverdlovsk Region Arbitration Court ruled on November 10, 2010 that OOO City Motors should undergo bankruptcy proceedings; this decision resolved case А60- 36174/2010-С11, Kommersant reports under its Insolvency Announcements heading. Yuri Shabalin, a member of the Siberian Guild of Anti-Crisis Managers, was appointed the company’s trustee for the time being.

Rosbank is going to coordinate the issue of Sverdlovsk Region’s 2010 bonds, the region’s Finance Ministry reports. Quite a few organizations competed for this task in a tender, including VTB Capital, Troika Dialog Investment Company, the Bank of Moscow, Promsvyazbank, Bank URALSIB, and Svyaz-Bank. All of these companies, with the exception of Promsvyazbank, also took part in the preceding tender announced on August 31, 2010; however, that tender was called off. Now Sverdlovsk Region intends to go through with a bond issue that will be worth up to 2 billion RUR and will remain in circulation

An ad hoc committee consisting of the experts from Russian Railways, the Department of Emergencies, scientific research institutes, and some relevant governmental bodies has been set up to estimate the likelihood of some further soil sagging at Sverdlovsk Region Railways’ Berezniki railway station in Perm Territory. The whole trouble started when a freight train’s automatic brakes went off at Berezniki station of the Berezniki-Perm electrically operated section of the road at 04:55 AM (Moscow time) on November 25, 2010. The examination of the train revealed the sagging of the surface

‘It’s possible that Russia’s chief doctor responsible for sanitation issues Gennady Onischenko will decide to impose a ban on passenger flights to the Dominican Republic as soon as tomorrow, November 26. This has to do with an outbreak of cholera in the neighboring Haiti. Yekaterinburg travel agents dealing in tours to the Dominican Republic are now waiting for the tomorrow’s news to come,’ General Director of Mir Travel Company Sergey Buzko announced at a Coordination Committee for Foreign Travel’s recent meeting. ‘The Dominican Republic is a very popular place at the moment, given

SV Group/Technosila’s bankruptcy application will be considered by the court on January 21, 2011, Moscow Arbitration Court ruled, Mally.Ru reports. SV Group first declared itself insolvent on July 28, 2010; the application was not processed at the time because some of the files hadn’t been organized in accordance with the existing requirements. Technosila’s second bankruptcy application, placed with the court on September 24, 2010, was also left unheeded. The company has actually been undergoing bankruptcy proceedings since July 2010; the company, which owns Russia’s third largest electronic

The authorized capital of OAO Uralvagonzavod Scientific & Production Corporation has been increased by 5 billion RUR through an additional issue of ordinary registered non-certificated shares. The decision to go through with a share issue was made by the company’s sole stockholder. The shares were offered at 1,000 RUR apiece. These will be bought by Rosimushchestvo on behalf of the Russian Federation.

‘We won in all the court cases involving Metro Cash & Carry, but the story hasn’t come to an end yet,’ the spokesperson for Sverdlovsk Region Federation of Trade Unions told UrBC. The German chain store actually clashed with the local trade unions after Metro’s Yekaterinburg stores management tried to prevent the organization of a corporate trade union there. Another problem apparently consisted in violation of the workers’ right to a compensation for the harmful working conditions. ‘The chairman of Yekaterinburg Trade Networks trade union Alexander Brusnitsin met Metro Vice President in

OOO Staffleasing is no longer a shareholder of OAO Uralmashzavod; the company used to own 32.2% of the Yekaterinburg-based plant’s shares. At the same time, the shareholding of ZAO Uralmash Machine-Building Corporation went up from 60.32% to 92.52%.

‘On Saturday, November 20, 2010, flight FZ901 from Dubai to Yekaterinburg operated by FlyDubai had to go through with an emergency landing in Samara because the landing strip in Koltsovo Airport of Yekaterinburg had been made unavailable by snow; moreover, the conditions for braking on the strip were classed as ‘bad’. For the sake of the passengers and the crew’s safety, it was decided not to try to land in such weather conditions,’ FlyDubai’s press service explained to UrBC. ‘As it happens, the aircraft crew found out upon their arrival in Samara that they had exceeded the officially

The international rating agency gave SKB-Bank’s BO 04 series bonds B2 on the rating scale, with Stable rating outlook. Any other bond issue that might follow this one will be given the same rating by Moody’s unless some dramatic changes occur in the bank’s overall credit rating, the agency reports. Moody’s analysts see SKB-Bank’s good position on Sverdlovsk Region and other Russian constituencies’ banking services market as a rather positive thing. They also think favorably of the bank’s clear-cut development strategy and a wide range of products on offer.

Following a request from Sverdlovsk Region’s public prosecution authorities, the regional division of the Federal Drug Control Service inspected X5 Retail Group’s Carousel hypermarket in Park House Mall in Yekaterinburg and found the store was selling mobile phone holders with images of marijuana printed on them. The officers of the Service confiscated fifteen unsold items and then had them subjected to an examination by a board of art critics. The experts came to the conclusion that the mobile phone holders with images of marijuana leaves on them can be classed as a means of advertising and

‘The city of Yekaterinburg proves to be one of our most effective business development directions in Europe,’ Bart Buyse, General Director St Petersburg and Russian Regions at Lufthansa German Airlines said at a recent press conference in Yekaterinburg. The airline reports their passenger turnover increases faster in Yekaterinburg than it does in Moscow or Saint Petersburg, which makes the former one of the three top cities for Lufthansa. Lufthansa executive said during the conference that Koltsovo Airport of Yekaterinburg has all the potential needed to become a hub, but its transformation

The construction of Russian Magnesium plant in Asbest, Sverdlovsk Region, has recently been halted, Chairman of the regional House of Representatives’ Economic Policies, Budget, Finance, & Taxes Committee and BOD Chairman of Tagilstroy Holding Alexei Chekanov told MK-Ural. ‘Tagilstroy Trust was involved in the construction as a contractor, but the project has been frozen for the time being for a number of reasons. I find the situation regrettable, as Russian Magnesium would have created new jobs in Asbest and would have ensured more tax payments. I believe the project has to be seriously

McDonald s is planning on adjusting the menus in its Ural outlets to the local culinary tastes, Vice Mayor of Yekaterinburg Viktor Konteev announced at a meeting with the local catering business representatives today. ‘I’ve spoken to their managers and explained to them that not taking the local tastes into account can actually be seen as a lack of respect. The fast food chain needs to have its menu choices modified in accordance with the local preferences, so McDonald s management now intends to introduce some novelties in the assortment of food items,’ Konteev said.

BOD Chairman of Magnitogorsk Iron & Steel Works (MMK) Viktor Rashnikov and General Director of OAO KAMAZ Sergey Kogogin signed a memorandum on the construction of a maintenance center in Naberezhniye Chelny. Under the terms of this document, the new enterprise is to be launched in 2012. OAO MMK and OAO KAMAZ are going to own equal shares of the business that will require over 1 billion RUR worth of investments. The annual output of the hot-rolled products processing facility will probably come to 170,000 tons, MMK PR Department reports. ‘One of MMK strategic development targets is related

ZAO Intercos IV (a member of MMK Group) launched the first block of a drop forged components plant and a maintenance center in Saint Petersburg recently. The launching ceremony was attended by Head of the Russian Federation Government Vladimir Putin and Governor of Saint Petersburg Valentina Matvienko. The first block of MMK-Intercos required 4.018 billion RUR worth of investments; its output is expected to exceed 250,000 tons of metal products a year. The construction of second block will probably begin in 2011. ZAO Intercos IV produce is meant for the carmakers, white goods manufacturers,

Chelyabinsk Region has made an important step on the way to strengthening its economic ties with Ukraine, region’s Governor Mikhail Yurevitch declared after a reciprocal visit of Ural Federal District’s officials (headed by Plenipotentiary Representative of Russian Federation President in Ural Federal District Nikolai Vinnichenko) to Zaporozhye Region. The Governor’s press service reports that negotiations held by Chelyabinsk and Zaporozhye Regions resulted in a signed protocol of intentions which ensures a series of projects in 2011-2012. The projects will all be related to the two parties’

OAO Koltsovo Airport, Yekaterinburg, informed the public of the reasons Flydubai’s Dubai-Yekaterinburg flight had been delayed. Flydubai’s Boeing737 operating the flight from Dubai to Yekaterinburg on November 20, 2010 landed in Koltsovo more than twenty-four hours later than had been planned. The airplane’s crew decided to land in its ‘Plan B’ airport in Samara because the landing strip in Koltsovo did not seem to provide the friction that would be safe enough to perform the landing. After the landing, the crew took some rest in accordance with the existing flight safety requirements and the

OAO UralTransBank and OAO Bank Yekaterinburg were placed on the list on Russia’s Top30 most unprofitable banks by Kommersant.Dengi magazine. OAO Surgutneftegazbank, which is also based in Ural Federal District, was also featured in this ranking with its 407.75 million RUR worth of losses.

Sverdlovsk Region division of Russia’s Federal Antimonopoly Service is about to start considering the case of Rodina housing block and its allegedly inappropriate advertisements, the Service’s press officer told UrBC. The advertisements in question were placed on billboards that read, ‘We sell Motherland and pay for children” and ‘We save money on kids.’ This was meant to say that Rodina (‘Motherland’) offered its customers a 100,000-ruble discount if there was a child in the family. The Service took action to prevent the supposed violation of the Federal Advertising Act after a complaint had