RBC.Rating came up with the results of their latest Russian financial market research. Their rating featured banks that proved the most profitable and the most efficient in the first quarter of 2008. Just like a year earlier, the Ural Bank for Reconstruction and Development made it to Russia’s top 100 list, leaving behind many other Ural Federal District-based banks. The bank’s profit amounted to 355.8 million RUR on April 1, 2008 and secured the company the 44th best position on the Top 100 list and the 1st place among all the banks of Ural Federal District, the bank’s press officer reports.

The Public Security Council meeting devoted to timber industry problems was coordinated in Yekaterinburg. It was detected in the course of the meeting that despite the measures taken, the region keeps exporting increasingly more wood pulp with very little processing. In 2006, for instance, the regional customs noted that about 80% of all the timber was exported in the form of rough wood and converted timber. Last year, over 88% of wood export consisted of edged boards and logs, that is, products that undergo little processing. In the course of a meeting, a report was made by the Council’s

Vanadium, the ore mining and processing enterprise based in Kachkanar, Sverdlovsk Region, launched its investment project targeted at increasing production and transporting more mined rock. The project provides for acquisition and launch of sixteen pieces of new machinery and considerable upgrade of the plant’s communication system as well as creating more jobs, the spokesperson for the enterprise reports. The better part of the equipment has already arrived at the plant. These are eleven dump cars with the capacity of 105 tons each, TEM-18 diesel locomotive and NP-1 electromotive. To service

A heavy engineering committee was set up within the framework of Russia’s Machine-Builders Union. The committee’s first meeting was attended by representatives of twenty Russian companies and resulted in appointing General Director of Uralmash Machine-Building Corporation Nazim Efendiev the committee’s chairman, the spokesperson for Russia’s Machine-Builders Union. The re-introduction of the committee is aimed at coming up with a united policy of heavy engineering development and at uniting the enterprises’ efforts in order to draw up the governmental heavy engineering development program for

‘We keep on working on our plastic cards and have been recently promoted to Principal by VISA. SKB-Bank has issued 480,000 cards for its customers so far. These can be used for making a lot of different payments, including one’s phone and housing bills. In addition, we can boast a broad ATM network,’ SKB-Bank’s BOD Chairman Mikhail Khodorovskiy said in the course of a press briefing. The Chairman reports SKB-Bank intends to launch its first credit cards in July 2008. The bank runs over 250 automatic teller machines located in nine Russian regions.

Aston, the local developer, announced via its official website that the price of a one-room apartment in Aston Plaza located at 61 Radischev St. in Yekaterinburg had dropped from 4.554 million RUR to 3.9 million RUR. This decrease in price is reported to be a ‘special offer’, but the low demand for Aston Plaza’s apartments might also be the reason for this. Aston’s Chairman Vyacheslav Trapeznikov said in the course of a TV interview in May 2008 that only a third of all apartments had been sold at that moment, while the building itself was to be commissioned in the last quarter of 2008.

Following the changes in its structure and adoption of the new Charter, Ural Treasures Bank edited its name. Starting June 27, 2008, the bank’s full name is Ural Treasures Commercial Bank (open joint stock commercial company), or Ural Treasures Bank (OJSC) for short.

‘After Koltsovo airport of Yekaterinburg increased its jet fuel prices once again, the fuel fee (a common part of most travel packages) rose by about ?70 on average. The airport has introduced considerable price increases three times this year, with prices going up 15% each time,’ says Zima-Leto travel agency’s acting director Maria Shulika. The Federal Antimonopoly Service reports jet fuel prices remained the same throughout January 2006 to November 2007, whereas between November 2007 and June 2008, prices soared by 70%. Twenty Russian airports sell jet fuel at prices higher than this

Central Bank of Russia reports volume of loans given by Ural Innovational Commercial Bank to private individuals for 1 to 3 years went down by 24.44% (from 6.48 million RUR to 4.896 million RUR) in January-May 2008.

Central Bank of Russia reports volume of for-profit self-regulatory organizations’ deposits in VUZ Bank valid for up to 30 days dropped by 65.50% (from 34.5 million RUR to 11.9 million RUR) in January-May 2008.

The Ural Bank for Reconstruction and Development made a presentation of its first Magnitogorsk-based office. The office is located right in the center of the city at 15 Oktyabrskaya St. and offers its customers a full range of modern and profitable banking services. The nice assortment of products has been shaped in such a way that best fits the local dwellers’ needs. Private customers can apply for a loan, open ruble, dollar, or euro deposits (in fact, there is even an option of opening a bank deposit through an ATM), have their currency exchanged, make a number of payments, and get some

‘Elite-Bank is a new format of customer service, aimed at customers who enjoy top quality comfort. This naturally costs you a bit more, but what we offer is individualized, custom-made service, and our customers have the option of never even seeing each other and remaining totally anonymous if they like,’ SKB-Bank’s BOD Chairman Mikhail Khodorovskiy announced in the course of a press briefing. Mikhail Khodorovskiy reports Elite-Bank offers exhausting advice on all of SKB-Bank’s products and services. ‘Despite the fact that Elite-Bank has not been operating for very long, we have already felt

According to the Central Bank of Russia, volume of private individuals’ deposits and other investments in Pervouralsk Joint Stock Commercial Bank valid for 181 days to 1 year went down by 11.17% in January-May 2008.

Central Bank of Russia reports volume of private individuals’ deposits in Tagilbank valid for 91 to 180 days went down by 24.78% (from 80.878 million RUR to 60.833 million RUR) in January-May 2008.

The famous singer Julio Iglesias had to cancel his concert in Yekaterinburg in the middle of the show due to some heart problems. This is the first time in his career that the singer had to stop in mid-concert and leave the stage. The concert started right in time at 7 PM. After Julio Iglesias sang two songs, he addressed the audience in English. The concert coordinators translated his words. ‘I don’t feel good, I don’t look good and I’m having some problems with my voice. This is the first time I have to stop my own concert. I will try to perform for you tomorrow. I love you very much,’ the

‘After the jet fuel price soared, all the flights we offer had to become more expensive. The price increase has affected the European destinations particularly badly. As for such popular vacation places as Turkey and Egypt, prices haven’t gone up as much yet, since most of the payments for these vacations are made in dollars rather than euros. Nevertheless, the general trend for rising prices is quite obvious,’ Olga Svechkova of Fond Mira Travel Agency said to UrBC. Koltsovo airport of Yekaterinburg last raised fuel prices from 26,940 RUR per ton to 30,600 RUR per ton, or by 13.6%. ‘The fuel

Governor of Sverdlovsk Region Eduard Rossel chaired a meeting of the region’s foreign investments committee to discuss the efficiency of foreign investments in Sverdlovsk Region’s economy and the potential increase in these investments. The Governor said the region was one of Russia’s top economic investment targets and received 160 billion RUR and $1.5bn worth of investments in the year 2007 alone. In addition, Sverdlovsk Region’s foreign trade turnover exceeded $12bn last year. At the same time, to reach the goals set by President Dmitriy Medvedev, one needs not only to attract more

URSA Bank’s stockholders attended the bank’s annual general meeting on June 20, 2008. In the course of the meeting, the stockholders confirmed the company’s annual report, the annual accounting balance sheet, and the profit and loss statement for the financial year 2007. The shareholders decided to distribute URSA Bank’s profit for 2007 (672,682,293.93 RUR, calculated in accordance with the Russian accounting standards) in the following way: 181,333 RUR and $22.733m will be used for making dividend payments (the latter sum is to be used for making dividend payments on the preference shares of

The Finance magazine came up with the rating of Russia’s major banks, with SKB-Bank featured among the country’s top ten banks in terms of funds increase. According to the results of a recent banking market research (available from the magazine’s website), SKB-Bank is a leading bank in terms of funds growth: the bank’s capital has gone up by 33% since the beginning of the year, which secured the company the 8th best position among Russia’s largest banks. SKB-Bank’s own funds came to more than 5 billion RUR on June 1, 2008.

Academic construction project managers have decided on how to securely protect the future district’s dwellers as well as their apartments and property. These projects have been coordinated with the state, municipal, and regional authorities and they are to be implemented by Sverdlovsk Region’s division of Sova Rescue Service. ‘We chose Sova because RENOVA StroyGroup only employs the best professionals for Russia’s largest and most unique construction project,’ RENOVA’s press officer reports. According to the management’s decision, every building’s entrances will be fitted with video door