11 January 200809:19

Deposits still seen as popular form of investment, SKB-Bank says

According to the Central Bank of Russia, Russian citizens deposited a total of 4.67 trillion RUR in the country’s banks between January 1, 2007 and November 1, 2007, roughly half of the deposits being ruble ones valid for 1 to 3 years. 'The popularity of bank deposits has to do with the customers’ desire to make sure they can keep making some nice profit in the current market conditions. Today’s high interest rates that come to 13.5% sometimes are not very likely to remain the same in a year or six months, whereas if you open a bank deposit today, your contract will provide for this high
11 January 200809:17

Net assets of UralSib Management Company go down 30.89% in December 2007

The value of net assets of UralSib Management Company went down by 30.89% between December 14, 2007 and December 29, 2007, dropping from 4,751,948,473.72 RUR on December 14, 2007 to 3,283,975,060.13 RUR on December 29, 2007. This information was published in compliance with the demand that any issuer and/or a joint stock investment fund must promptly reveal any essential information that might influence their stock price.
11 January 200809:11

State of Sverdlovsk Region railways worrying, Ministry of Industry, Power Engineering, and Science warns

Sverdlovsk Region Ministry of Industry, Power Engineering, and Science feels dissatisfied with the state of events at Sverdlovsk Region Railways (a subsidiary of Russian Railways Public Company) and with the condition of the railways, the spokesperson for the Governor of Sverdlovsk Region reports. Despite the regional enterprises’ joint efforts, the railways’ freight turnover went down by 23% within the first five days of the year compared to December 2007. For instance, Nevyanskiy Cementnik, Ural Pipe Plant, Sinara Pipe Plant, and Concern Kalina never loaded a single carriage. UralAsbest and
11 January 200809:01

Russian Federal Property Fund to sell LDP plant’s shares by auction

Russian Federal Property Fund announced it was going to sell the shares of a plant dealing in manufacturing of large diameter pipes by auction in the near future. The decision was taken and formalized by the Federal Property Management Agency on December 14, 2007. The auction is open for all those willing to apply with bids in any format they like. The results of the auction are to be declared on February 14, 2008.
10 January 200809:21

AutoVaz says MMK’s goods improve

AutoVaz and Magnitogorsk Iron & Steel Works (MMK) held a coordination meeting in Togliatti. The agenda of the meeting covered issues related to the quality of the produce supplied by MMK and the two companies’ cooperation potential. MMK was represented by a group of experts headed by the Technological Management Director Alexander Sarychev. AutoVaz representatives said the quality of rolled metal supplied by MMK improved, which was particularly true of goods used in VAZ cars outside parts. The two parties discussed the terms of delivery of the hot-dip-galvanized metal for the outside
10 January 200809:17

Sverdlovsk Region to start issuing new international passports on January 14, 2008

According to the Russian Federation President’s order 1222 as of October 19, 2005, Russian citizens willing to go abroad must obtain new-format international passports containing special information microchips. All Sverdlovsk Region dwellers may apply for these new generation passports at the Federal Migration Service’s head office at 2 Krylov St., Yekaterinburg beginning from January 14, 2008. At the same time, all the other outlets as well as the head office will be issuing old-format passports: these will be valid until their expiry date. In addition, new passports will have become
10 January 200809:07

UralTransBank’s stockholders might sell some shares, Unicom Partner says

'I don’t think it’s improbable that UralTransBank’s shareholders might sell a portion of or all of their shares,’ Unicom Partner Investment Company’s Asset Management Director Sergei Kaliberda said to UrBC. According to Vedomosti newspaper, OTP, a Hungarian firm that has bought Investsberbank earlier, might go on buying banks in Russian provinces, including UralTransBank which is particularly attractive because of the European Bank for Reconstruction and Development being one of its shareholders. 'It’s hard to say whether they have any personal reasons to act in this way, yet the
10 January 200809:03

Ural Bank for Reconstruction and Development becomes one of Russia’s top brokers in November 2007

The Ural Bank for Reconstruction and Development was rated Russia’s 41st top broker in November 2007, RosBusinessConsulting reports. The bank’s total market turnover amounted to $272.11m last November. Moreover, the Ural Bank for Reconstruction and Development was Ural Federal District’s only bank to hit the rating. 'Stock market operations have always been one of the bank’s top priorities,’ says Vladimir Zotov, the bank’s Financial Institution Management and Treasury Investment Services Director. 'Our customers can use a range of stock market services we offer, such as trust