February 16, 2015. 1,008 Sverdlovsk Region-based companies and sole traders were at different stages of bankruptcy proceedings at the start of the year; this was 12% more than in early 2014, Sverdlovsk Region division of the Federal Tax Service reports. 817 businesses are now involved in insolvency suits and are run by trustees in bankruptcy; this number makes up 81% of all the bankruptcy cases. 180 companies and sole traders (18%) are under observation procedures, one business is undergoing a financial recovery procedure, and ten companies (1%) have been subjected to trusteeship. 95

February 16, 2014. Over 750,000 Sverdlovsk Region residents received their property ownership certificates last year, while the number of mortgage deals rose by 12%, Rosreyestr’s press service reports. Nearly 900,000 citizens applied for the certificates, and the number of those who decided to get their cadastral registration along with the ownership certificate went up by 22%. Most of the applicants are private individuals; 40% of property ownership certificates are based on a purchase and sale agreement and 11% are based on the dwellers’ privatization rights.

February 13, 2015. Magnitogorsk Iron & Steel Works (MMK) is planning to retain its current production output during the next decade and therefore make some 12,000,000,000 kg of metal goods at its primary production site in Magnitogorsk. To ensure maximum output, MMK will focus on efficiency, the company’s Business Development & Management Director Maxim Lapin said at an Adam Smith Conferences media event dedicated to the CIS and Russia’s metallurgical and mining industry. ‘MMK strategy for the following decade is making sure its head plant in Magnitogorsk remains efficient, which

February 13, 2015. Magnitogorsk Iron & Steel Works (MMK) is planning to retain its current production output during the next decade and therefore make some 12,000,000,000 kg of metal goods at its primary production site in Magnitogorsk. To ensure maximum output, MMK will focus on efficiency, the company’s Business Development & Management Director Maxim Lapin said at an Adam Smith Conferences media event dedicated to the CIS and Russia’s metallurgical and mining industry. ‘MMK strategy for the following decade is making sure its head plant in Magnitogorsk remains efficient, which

February 13, 2015. All the preparations for the Russian Classic hockey game that is to take place at Uralvagonzavod Corporation’s head plant’s stadium on February 14 are complete in Nizhniy Tagil. Nizhniy Tagil’s Sputnik will play against Yuzhniy Ural from Orsk. ‘Russian Classic is more than a grand hockey match. This is a performance that is meant to show Nizhniy Tagil as a city where serious and positive changes are taking place. Nizhniy Tagil has always been keen on sports: take, for example, the successful round of the World Cup Ski Jumping Championship, as well as the upcoming hockey

February 13, 2015. LEPSE Electric Machine-Building Plant (a member enterprise of Uralvagonzavod Corporation) launched Combomax 400, a laser welding unit. This new Russian equipment, made by Bulat, was delivered onto the plant in late 2014 as part of the company’s import replacement program, the corporation’s press service reports. The unit is meant for welding parts of electric mechanisms, eliminating the defects of castings, repairing compression molds, and for other operations where welding without thermal deformation is required. ‘Combomax 400 has a powerful laser beam source that allows

February 13, 2015. One of the world’s major pipe manufacturers, Pipe Metallurgical Company (TMK) bought a 100% stake in ChermetServisSnabzheniye. The transaction cost the company some 2,73bn RUR. This purchase is not going to affect the capital expenses in 2015; on the contrary, the deal is expected to reduce the CAPEX by over 34% compared with 2014, the company’s press service reports. ChermetServisSnabzheniye was set up in 2000; it is now one of the largest players on the Russian scrap ferrous metal market and keeps building up on its sales and revenues. ChermetServisSnabzheniye is TMK’s

February 13, 2015. Pipe Metallurgical Company (TMK), one of the world’s leading OCTG producers, redeemed its convertible bonds (to be paid off in 2015) with 5.25% coupon yield, the company’s press service reports. The bonds could be converted into TMK’s GDRs, each of which stand for four ordinary shares. In order to pay off the bonds, TMK used the money obtained through its operational and financial performance, including a four-year U.S. dollar loan taken out from one of major Russian privately run banks. The company isn’t planning to go through with a public offer of its 17,876,489 GDRs

February 13, 2015. The Sociology Department of Financial University under the Russian Federation Government carried a rating of the country’s cities with the best living standards in 2014. According to Yekaterinburg Council’s press service, the research involved 37 Russian cities with population over 500,000 people. The rating positions were ascribed based on statistical and sociological data that were obtained through population surveys. Yekaterinburg was given the 6th position in the rating in terms of the quality of education it offers. Head of Yekaterinburg Council Education Department

February 12, 2015. Panorama was chosen as an official broadcasting partner for Russia Arms Expo 2015 and for the large-scale demonstration of the Russian military vehicles’ combat and operation potential, Uralvagonzavod Corporation (RAE’s primary coordinator) press service reports. ‘Panorama has broadcast over 700 sports, political, and cultural events in Russia and abroad. The company’s key project was on the national TV signal for the 22nd Winter Olympics and the national and international TV signals for the 11th Winter Paralympics 2014 in Sochi. The International Olympic Committee awarded

February 12, 2015. A home front workers memorial will be unveiled in Chelyabinsk on Victory Day to celebrate the 70th anniversary of the country’s victory in Great Patriotic War. The management of ChTZ Uraltrac (a member enterprise of Uralvagonzavod Corporation) decided to donate to the memorial a historic mill made in 1936 that was earlier used by the plant. According to Uralvagonzavod Corporation’s press service, the memorial is to portray two teenagers, a boy and a girl, kneeling over a mill and making a shell. ‘The unnatural juxtaposition of children and weapons is meant to produce a

February 12, 2015. MegaFon and QIWI (a payment service) launched a new, Visa-based QIWI Wallet together, the mobile carrier’s press service reports. MegaFon subscribers can now make payments to Visa QIWI Wallet providers at no extra charge. Money can be transferred from the mobile phone account or QIWI wallet; the e-wallet can be used to pay Internet and housing bills and fines and to do shopping online. In addition to this, MegaFon subscribers get a bonus (0.5% of the payment amount) for each transaction via Visa QIWI Wallet; the bonus goes to a subscriber’s mobile phone account. New Visa

February 12, 2015. A sports player from Seversky Pipe Plant (STZ, a member enterprise of Pipe Metallurgical Company) Anna Medvedeva won the Ural round of Russian Ski Track 2015, an All-Russian ski race. Medvedeva was the best in the ten-kilometer free style race, the company’s press service reports. Master of sports in ski racing, Anna Medvedeva has been working at STZ Pipe-Rolling Department since 2008. The 25-year-old sports woman spends all of her free time practicing with the help of Andrei Medvedev, her brother and coach at Polevskoy Junior Sports School. This is the first time an STZ

February 12, 2015. In December 2014, the average amount of money a customer spent at Ural Federal District-based shops kept growing primarily due to an anomalous surge in consumer demand, which, in its turn, was caused by the plummeting exchange rate of the ruble. The country’s average came to 670 RUR, which was 15% more than a month earlier, Romir, a research holding, reports. This figure was also 10% higher than in December 2013 (605 RUR). The average bottom line on a cash receipt changed in all parts of Russia last December; the figure grew the most in the south of the country (+21%), by

February 11, 2015. This year’s certification audit of engineers and technicians takes place at Kamensk Uralsky Foundry/KULZ (a member enterprise of Uralvagonzavod Scientific & Production Corporation). According to the corporation’s press service, the first round of the audit involved ‘new staff’- those who joined the company or were promoted to a new position slightly over a year ago. The audit committee, headed by the plant’s Technical Director, examined a number of workers and managers to see if they comply with their work obligations. ‘The professional audit involved an economist, a

February 11, 2015. The judges in the Russian Construction Ministry’s first urban development contest presented their list of finalists in several categories. According to Yekaterinburg Council’s press service, Yekaterinburg competes in three categories: Best Completed Energy-Saving Project on Economy Class Housing (the city’s Academic District), Best Multi-Faceted Area Development Project (Academic District), and Best Completed Low-Rise Construction Housing Project (Michurinsky District). These three projects compete with projects from Vladikavkaz, Megion, Surgut, Tyumen, Moscow, Kirov,

February 11, 2015. Sverdlovsk Railways’ freight turnover rose by 7.3% in January 2015 compared with January 2014 and amounted to 17.05bn ton-kilometers. At the same time, the amount of cargo consisting of building materials dropped by nearly 25% and came to 1m tons, Sverdlovsk Railways’ press service reports. Besides, scrap metal and ferrous metals shipments declined by 16%, industrial raw material and molding material shipments declined by 12%, and coke, chemical and mineral fertilizers, and non-ferrous ore and sulfur stuffs shipments declined by 11.3%, 8.8%, and0.4%, respectively. At the

February 11, 2015. The unemployment rate in Sverdlovsk Region came to 154,200 people in January: this comes to 6.7% of the working-age population in the area, Sverdlovskstat reports. The figure stood at 6.5% (151,300 people) last December. The overall working-age population has remained the same – some 2.3m people.

February 11, 2015. 672 residents of Sverdlovsk Region are now allowed to leave the country because of their debts, which total to 397m RUR, Sverdlovsk Region division of Russia’s Federal Service of Court Officers’ press service reports. ‘217 people are those who failed to pay their criminal fines; their accumulated debts come to over 10m RUR. These debtors are not allowed to go abroad based on Article 15 of the Federal Act on Leaving and Entering the Russian Federation; the 10,000-ruble ‘debt threshold’ does not apply here,’ the press service says. 191 people owe a total of 151.6m RUR to

February 10, 2015. Rosneft and Uralvagonzavod Corporation are starting to work together on scientific research on, production of and introduction of hi tech lubricating materials. According to the corporation’s press service, the oil company representatives attended Uralvagonzavod Corporation’s head plant in order to hold talks on the partnership agreement that was signed by Rosneft President and Chairman of the Board Igor Sechin and Uralvagonzavod Corporation Director-General Oleg Sienko. The talks resulted in a cooperation strategy and in plans to develop, test, and produce lubricating