Russia’s top thirty banks facilitated the export of $20bn from Russia in the first half of 2011; Sberbank and the Bank of Moscow crown the list, Deputy Director of the Central Bank of Russia’s Financial Stability Department Sergey Moiseyev said at the International Banking Forum in Sochi. We see a two-way trend: on the one hand, banks are trying to find new niches and segments where they can successfully offer loans with tolerable risks, and on the other hand they play an active part in the export of capital. Thus, the country’s thirty largest banks facilitated the outflow of about $20bn in

Yekaterinburg-based Koltsovo Airport is not facing any jet fuel supply problems at the moment, but existing supply difficulties might lead to some shortage, the airport’s press service informed Interfax. We currently have enough jet fuel to keep us running for seven days,’ the press service representative explained. He confirmed Rosaviation’s warnings that Koltsovo might be faced with jet fuel shortage just like its Moscow counterparts. Out of 14,000 tons of jet fuel needed in Koltsovo for this month, only 6,000 tons have been contracted, and the data on the delivery of the rest of the amount

The Ural Federal District division of Russia’s Federal Financial Markets Service conducted an in-house inspection of BauerHof to see whether the company complies with the Russian Federation securities legislation, namely, with the Federal Financial Markets Service’s Order 09-33/pz-n dated August 13, 2009. Following the inspection, the joint stock company was sent an order to eliminate the detected violations of the Russian Federation law.

SKB-Bank has once again topped a credit rating representing Sverdlovsk Region’s financial services market. RusRating affirmed SKB-Bank’s BB+ credit rating on September 2, 2011. This is the best rating result among the credit institutions based in Sverdlovsk Region. A few months ago, SKB-Bank’s rating outlook was promoted from Stable to Positive as well. SKB-Bank’s rating stems from its well-developed and stable regional market position, its financially strong proprietors and the likelihood of their support for the bank, and its impressive business development dynamics. The rating agency’s

We keep investing in production while still introducing new principles into the way the enterprise’s budget is structured,’ the Director-General of Magnitogorsk Iron & Steel Works (MMK) Boris Dubrovsky said in his interview to Magnitogorsky Metall. We couldn’t make do without borrowed funds when MMK invested considerable amounts of money in the construction of new production facilities; this is a practice adopted everywhere around the world. Now our task is to reduce the debt burden, so the budget for 2012 is expected to come out deficit-free and well-balanced,’ he noted.

RBC.Rating came up with a rating of Russia’s largest banks in the first half of 2011. Russia’s five hundred banks were ranked on the basis of the following: the volume of their net and liquid assets, their lending portfolio, volume of loans offered to private individuals and legal entities, and outside funds. VUZ-Bank was one of the country’s Top100 banks as usual and was given the 89th position on the list. The rating’s other performance indicators demonstrate the bank’s stable financial development as well. In terms of its lending portfolio, VUZ-Bank is one of Russia’s Top200 banks. It is

Pipe Metallurgical Company (TMK) announced its intermediary consolidated performance results for the first half of 2011, that is, through June 30, 2011. The performance report was drawn up in accordance with the International Accounting Standards (IAS). The company’s press service reports that its revenues increased by 38% in comparison with the year earlier and amounted to $3,547m mainly due to growing prices and improvements in the range of produce on offer. 57% of accumulated revenues came from the sales of weldless pipes – the company’s key product.

The Ukrainian Consulate-General for Siberia and the Urals is going to relocate from Tyumen to Yekaterinburg; this proposal was approved by Russia’s Ministry of Foreign Affairs, Yekaterinburg City Council’s press service reports. The Russian Federation Government is currently preparing a provision on the relocation of the diplomatic representation. Director of the Ukrainian Foreign Affairs Ministry’s Press Department Oleg Voloshin explained that, in addition to interacting with the local Ukrainians, Yekaterinburg consulate will mainly deal in economic issues, since the consulate’s new location

Inter RAO UES admitted to plans of leaving Enel OGK-5 before the end of 2011, RBC reports. According to the company’s Chairman of the Supervisory Board Boris Kovalchuk, the negotiations to this extent are now under way and are going smoothly so far. We have our authority because of our controlling shareholding, and Enel OGK-5 understands that the affairs cannot be left in their present state,’ Mr. Kovalchuk said. Now Enel OGK-5 runs Sredneuralskaya and Reftinskaya power stations in Sverdlovsk Region.

The rating agency Standard & Poor's reconsidered the rating outlook of Russia-based Home Credit & Finance Bank, moving it from Stable to Positive. The bank’s earlier В+/В long- and short-term credit ratings were also affirmed but then called off upon the bank’s request. Promoting the rating outlook to Positive means we expect Home Credit & Finance Bank to keep up with its sufficient operational profitability performance thanks to improved solvency and a level-headed approach to setting up reserves; we also expect it successfully to refinance its loans on the capital markets,’

About one hundred calls had been made to Chelyabinsk ambulance by 1:30 PM local time; the city had a large-scale bromine leakage today. Eight people had to be taken to hospital with suspected bromine poisoning that might have come through food sources. The rest of those who called the ambulance only asked for advice, the city council reports. Fifty liters of bromine leaked out of a carriage at Chelyabinsk-Glavny railway station at about 5:30 AM local time this morning. An unpleasant smell pervaded the city center. The local division of the Ministry of Emergencies advised the locals to stay in

Three employees of Uraldomnoremont-Yekaterinburg had to face disciplinary liability for violating the labor safety regulations at Chelyabinsk Metallurgical Plant, which led to a gas poisoning of some workers there, Chelyabinsk Region’s public prosecution authorities report. The prosecution authorities investigated the incident involving seven workers of Korund+ and Rodnik going to hospital; the workers had contracts for the repair of blast furnace 5 at Chelyabinsk Metallurgical Plant. The victims of the accident were busy working on the blast furnace seams and installing graphite blocks with

Rosnano now owns a 48% shareholding in Chelyabinsk Region-based Russian Quartz. Russian Quartz deals in the production of high-purity quartz concentrate. Prior to the acquisition of the shareholding, Rosnano and Kyshtym Mining (KGOK) signed an investment agreement relating to the expansion and technical upgrades of the high-purity quartz concentrate production; the concentrates are used in microelectronics, for example.

VUZ-Bank keeps expanding the range of services it can offer to the young customers and offers them ISIC student privilege cards. The bank is now ISIC’s exclusive partner in Yekaterinburg. ISIC cards will be available at the bank’s outlets as soon as this September. VUZ-Bank’s ISIC card combines a plastic pay card, a discount card, and a UNESCO-supported, globally recognized student ID. The card can be used to pay for products and services in retail outlets all over the world, the card account can be topped up any minute, one can use it to take money out of a cash machine and have one’s

Officers of Tyumen Customs have confiscated 469 counterfeit items bearing Adidas logos since the beginning of 2011. Among the fake products are usually footwear, sportswear, socks, and bags. The customs authorities act as the protectors of intellectual property in that they prevent the import of counterfeit goods across the border and carry out inspections in the customs area alongside the local police officers. Tyumen Customs and Tyumen Region policemen conduct joint raids aimed at finding counterfeit goods in Ishim, Tobolsk, and Tyumen on a weekly basis.

Magnitogorsk Iron & Steel Works (MMK) came up with its environmental performance report for the first half of 2011. According to the enterprise’s PR Department, the company is now recycling considerably more industrial waste when compared with the first half of 2010 thanks to the launch and full use of slag recycling facilities. In the first half of 2010, for example, MMK recycled 4m tons of smelter, blast furnace, and waste slag, whereas in the first half of 2011, the figure came to as much as 5.76m tons (an increase of 44%). As a result, half a million tons of metal material was taken

The share of power-related expenses in the prime cost of aluminum produced at UC RUSAL Bogoslovsky smelter rose by 45% in the first half of 2011; the figure went up by 42% at the company’s Ural smelter as well due to the growing electric power fares: prices went up by 51% and 32%, respectively. The growing power expenses have to do with the energy sector reform that was conducted in the first half of this year. As a result, the expenses of all the power consumers in the Russian Federation have gone up considerably. Our company is doing its best to minimize the negative impact of growing

The House of Representatives approved of the changes in Sverdlovsk Region State Property Management Program for 2011. Acting Sverdlovsk Region Minister for Public Property Management Georgy Alekseyev explained the changes were necessary in order to set up an autonomous non-profit organization that will deal with preparing and submitting an application for Yekaterinburg’s hosting the World Universal Exhibition EXPO 2020. The organization is to receive a donation of 10,000 RUR from the region’s budget. To finance the performance of the said autonomous non-profit organization, 300m RUR is

Alfa-Bank’s Board of Directors terminated the authority of the bank’s Chairman of the Supervisory Board Rushan Khvesyuk and his first deputy Andrei Sokolov before the end of their terms. At the same time, Andrei Sokolov was elected the bank’s Chairman of the Supervisory Board, and Rushan Khvesyuk was elected one of the members of the Board. Vladimir Tatarchuk was elected First Deputy Chairman of the Supervisory Board.

Khanty-Mansiysky Bank increased its shareholding in Novosibirsk Commercial Municipal Bank from 75.13% to 93.76%. At the same time, Novosibirsk-based bank reports, the Director-General of Novosibirsk Commercial Municipal Bank Vladimir Zhenov and NOMOS-Bank reduced their shares in the bank from 6.37% to 1.6% and from 16.83% to 4.22%, respectively.