Rosgosstrakh-Ural, the insurance company, is to close down before January 1, 2010. The liquidation is a part of Rosgosstrakh Group’s consolidation and reorganization process, with nine regional companies (RGS-Accord, RGS-Far East, RGS-Povolzhie, RGS-North-West, RGS-Siberia, RGS-Tatarstan, RGS-Ural, RGS-Center, and RGS-South) merging with RGS-Stolitsa. Upon the completion of the merger, RGS-Stolitsa is to be called Rosgosstrakh. All of the local companies’ personnel will be re-employed by Rosgosstrakh. The process will probably have been completed by January 1, 2010.

Governor of Chelyabinsk Region Petr Sumin approved of the set of measures meant for preparing the region’s utilities and power supply facilities for the upcoming heating season, the spokesperson for the Governor reports. According to the existing plan, heads of local municipalities must place their heating period reports with the Ministry for Construction, Infrastructure, and Roads before September 15, 2009. The reports must contain the schedule of all the washing-out operations, hydraulic pressure testing, and repairs of the heating network as well as suggestions as to creating coal, liquid

Magnitogorsk Iron & Steel Works (MMK) has recently got registered with InternationalMaterialDataSystem (IMDS). This automobile spare parts and materials database was set up in 2000 with the support and inspiration from Audi, BMW, Daimler, Ford, Opel, Porsche, Volkswagen, and Volvo, who wished to have the data from the entire supplier chain systematized and united. The system now provides car manufacturers and their partners with information about all kinds of materials that are used for spare parts and car units. The IMDS was based on the European countries’ directives that require full

Magnitogorsk Iron & Steel Works (MMK) has recently got registered with InternationalMaterialDataSystem (IMDS). This automobile spare parts and materials database was set up in 2000 with the support and inspiration from Audi, BMW, Daimler, Ford, Opel, Porsche, Volkswagen, and Volvo, who wished to have the data from the entire supplier chain systematized and united. The system now provides car manufacturers and their partners with information about all kinds of materials that are used for spare parts and car units. The IMDS was based on the European countries’ directives that require full

Governor of Chelyabinsk Region Petr Sumin directed 7.5 million RUR to help make up for the damage caused by a hurricane that broke out in the region’s six districts on June 14, 2009. The hurricane, accompanied by a strong lighting storm and a hail shower, caused a lot of destruction in Argayashskiy, Etkulskiy, Varnenskiy, and Troitskiy districts as well as in Ust-Katav and Yuzhnouralsk. About a hundred houses were damaged in eleven regional towns altogether, with ruined roofs, broken electricity and water supply networks, dysfunctional railway system, and damaged crops. The towns deprived of

The Central Bank of Russia reports volume of loans given by VUZ-Bank to non-state for-profit organizations for up to 30 days plummeted by 99.65% (from 76.062 million RUR to 260,000 RUR).

The company’s stockholders decided at the general meeting not to pay the dividend for 2008. In addition, they confirmed the enterprise’s annual report and the annual accounting report for 2008 (including the profit and loss statement for the last financial year. Then, the Board of Directors was elected, namely, A.G. Vedernikov, D.A. Verkhovtsev, A.I. Kravchenko, A.V. Malyshev, and E.P. Sulimov. Finally, Financial and Accounting Consultants Ltd was chosen as the company’s auditor.

The solemn ceremony dedicated to the launch of Ural Airlines’ first Yekaterinburg-Beijing flight is to take place in Koltsovo Airport’s airfield on July 5, 2009. The ceremony will be attended by Governor of Sverdlovsk Region Eduard Rossel, Ural Airlines General Director Sergey Skuratov, and the People’s Republic of China Consul for Yekaterinburg Se Tzinyn. Once the symbolic red ribbon has been cut, the first flight’s passengers will head for the Chinese capital at 8:20 PM, while the remaining party will be treated to a Chinese tea ceremony in the conference hall. Ural Airlines will be

‘After Uralvagonzavod’s director cancelled temporarily most of the enterprise’s social benefits schemes, the situation grew dangerously near to a social explosion,’ head of Uralvagonzavod Scientific and Production Enterprise’s trade union Vladimir Krasnorutskov said to an UrBC reporter. As a matter of fact, the company’s managers announced at a workers’ meeting that 15,000 employees would be sent on forced leaves (with only 66% of their wages to be paid for the time being) and that all the social benefits would be called off. ‘Oleg Sienko refused to countermand the point regarding the social

Experts from Prometei Scientific Research Institute, representatives of Magnitogorsk Iron & Steel Works (MMK), and executives from various shipbuilding enterprises met in Saint Petersburg to consider the possibility of manufacturing ship-suitable kinds of steel at MMK’s future Mill 5000, discuss the industry’s potential, and look into the areas of possible cooperation. According to MMK’s PR Department, the shipbuilding enterprises took great interest in obtaining Mill 5000 produce, as it would meet both the existing demands and the prospective ones. MMK expects to launch its plate mill

Pipe Metallurgical Company’s AGM in Moscow resulted in the shareholders’ decision to pass the dividend for 2009. Besides, the stockholders approved of the company’s annual report and the annual accounting report (including the profit and loss statement for the financial year 2008). Then, they elected the Board of Directors and the auditing committee. Ernst & Young were chosen to be Pipe Metallurgical Company’s auditor for 2009. The company’s BOD now consists of Andrei Kaplunov, Sergey Papin, Dmitriy Pumpyanskiy, Igor Kmelevskiy, Alexander Shiryaev, and five Independent Directors:

Koltsovo-Invest’s only stockholder decided at the annual general meeting to pass the dividend for 2008. BDO Unicon was chosen as the company’s auditor for 2009, with Evgeniy Khamatdinov as Koltsovo-Invest’s inspector.

On June 30, 2009, URSA Bank made $7.8m worth of coupon payments on its LPN bond issue. The coupon yield was determined at 12% a year, the bank’s press officer reports. This $130m LPN Eurobond issue was launched on June 27, 2006; the bonds are to be in circulation for five years. The issue was coordinated by Sibacademfinance PLC, Ireland, with placement organization by Barclays Capital.

According to the Central Bank of Russia, volume of loans given by Bank Severnaya Kazna to sole traders for 181 days to 1 year went down by 76.15% (from 31.977 million RUR to 7.625 million RUR) in January-May 2009.

‘This builder took out a rather large bank loan. So large, in fact, that I’d rather not even mention the sum itself. And now, without putting up anything at all, Akadem-Grad declares itself insolvent. I believe this case has to be investigated by the public prosecution authorities,’ Governor of Sverdlovsk Region Eduard Rossel said at the traditional monthly press conference in Yekaterinburg. Akadem-Grad Developing Company placed its insolvency application with Sverdlovsk Region Arbitration Court. The company was involved in Green Valley multi-faceted area development project, which included

The Central Bank of Russia reports volume of loans given by Bank24.ru to non-state financial organizations for 181 days to 1 year plummeted by 99.81% (from 10.437 million RUR to 19,000 RUR) in January-May 2009.

‘We haven’t been able to sell the hotel located in Antey Business Center’s third section yet. There are no customers for the building at the moment, so reality actually contradicts our government’s declarations of things getting better. In fact, nothing is getting better; the economy is still falling down and hasn’t hit the bottom yet. Once the bottom has been reached and some certainty arrives, customers might take an interest in the hotel. Right now this isn’t the case,’ Antey’s owner Andrei Gavrilovskiy announced at a round table discussion on hotel estate management in Yekaterinburg.

Bank24.ru is suspected of violating the federal law on advertising. According to the spokesperson for Sverdlovsk Region’s division of the Federal Antimonopoly Service, the division is to meet on July 2, 2009 and look into case 49 regarding Bank24.ru and its alleged violation of Article 18 of the Federal Advertising Act. The bank is accused of promoting its services through text messages, to which the bank’s customers never agreed in writing.

URSA Bank announced the launch of its new offer for business customers, who can now get the bank’s three-month business package free of charge if they deposit at least 500,000 RUR with the bank. ‘By opening a bank deposit, our customers get a chance to subscribe to the Acquaintance package and use all the necessary banking services free of charge for three entire months. This includes the opening and administration of a settlement account, subscribing the customer to our e-banking domain (Internet Bank, Client Bank, Telephone Bank), processing any amount of electronic payment documents,

The Bank of Russia’s PR Department reports they sent their plenipotentiary representatives to forty-seven financial institutions, seventeen of which are Moscow-based. This has been done in accordance with Article 76 of the federal bill on the Central Bank of the Russian Federation (the Bank of Russia). Among others, the representatives have been sent to Bank24.ru, Bank Yekaterinburg, and Bank Severnaya Kazna.