A fatal accident occurred at Sredneuralsky Copper Smelting Plant on January 8, 2008, says the spokesperson for Ural Federal District’s division of Rostechnadzor (the state technological, environmental, and nuclear safety watchdog). The investigation committee came to the conclusion that the accident had been caused by the victim failing to use any individual protective equipment, poor labor protection, and lack of authorities’ control over how the safety rules were obeyed. The plant’s management was explained that the existing production control over the safety of loading and off-loading

According to the Central Bank of Russia, volume of loans given by Universal Bank to for-profit self-regulatory organizations for over 3 years went down by 35.69% (from 4.321 million RUR to 2.779 million RUR) in January-December 2007.

In 2007, Sberbank of Russia’s Ural branch managed to raise its assets impressively as well as meet all the target figures in terms of attracting investments and offering loans to its customers. The bank’s profit increased by 1.3 times last year compared to the year before and reached 6 billion RUR, while the net assets grew by 1.5 times and amounted to 281 billion RUR. Sberbank’s Ural branch provided considerably more customers with loans in 2007 against 2006, so their loan portfolio rose by 100 billion RUR and came to 251 billion RUR. The volume of loans offered to private individuals, for

'Societe Generale has already lost Ï4.9bn in terms of financial damage, while its reputation loss is reflected in the plummeting rating indicators. In the long run, both the financial and reputation losses the bank has suffered have already devaluated its stock capital. Besides, these losses are featured in the bank’s end-of-year report,’ Vsevolod Chaschin, General Director of Blagodat Securities Investment Company, said to UrBC. Societe Generale, France’s second largest bank, lost Ï4.9bn ($7.1bn) due to one of its traders’ gerrymandering related to European stock exchanges’ indices

Central Bank of Russia reports volume of loans given by Perviy Respublikanskiy Bank to sole traders for 181 days to 1 year went down by 54.13% (from 3.785 million RUR to 1.736 million RUR) in January-December 2007.

UBS Investment Bank suggested that it would be a good idea to buy URSA Bank’s bond issues worth 400m and 300m, to be retired in 2010 and 2011, respectively, while it would also be clever to keep the bank’s $350m bond issue (to be retired in 2009) for the time being, UBS reported on January 28, 2008. UBS’s analysts came up with their recommendations after looking into URSA Bank’s financial report (drawn un in accordance with the IAS) for January-September 2007 and studying the structure of the bank’s authorized capital. UBS reports URSA Bank has Russia’s seventh largest subsidiary network

'Whatever one may think of the bank’s financial losses, Societe Generale's reputation damage can hardly be questioned. In fact, the bank’s very ability to deliver the goods, that is, to lower risks, is seriously doubted,’ Management Company’s Investment Director Alexander Metzger says. Societe Generale, France’s second largest bank, lost 4.9bn ($7.1bn) due to one of its traders’ gerrymandering related to European stock exchanges’ indices futures. An 80% decrease in the bank’s annual profit is expected. 'As it happens, any commercial bank is selling its customers its ability to

According to the Profile magazine, the Ural Bank for Reconstruction and Development was one of Yekaterinburg’s four banks to hit Russia’s Top 200 Largest Banks rating on December 1, 2007. Positions were determined by the volumes of equity capital and assets, so the Ural Bank for Reconstruction and Development, with its 3.1 billion RUR worth of net worth, was given the 94th position, while the volume of its quick assets (2.5 billion RUR) gave the bank the 70th position in the rating (which was the second best result in Yekaterinburg). As a matter of fact, three Yekaterinburg-based banks

According to the ranking of unit investment trusts as of January 25, 2008, the share price of BCS Blue Chip Fund (BrokerCreditService Management Company) went down by 9.15% between January 1, 2008 and January 25, 2008.

Sverdlovsk Region Court of Arbitration’s first meeting regarding the claim laid by Koltsovo airport against Aviaprad has been scheduled for February 27, 2008. The airport sued the air carrier for non-payment of fees the airline was charged for ground handling. 'The airport’s application states Aviaprad owes them 435,052,537 RUR,’ Sverdlovsk Region Court of Arbitration’s press officer Yulia Kolyasnikova said to UrBC.

Uralmash Machine-Building Corporation shipped the second crane needed for a nuclear power station in India, the spokesperson for the company said to UrBC. The assembling began in July, while the final fit-up took place in October 2007. The crane meant for the oil reservoir and the first crane are currently being assembled in India. In addition, Uralmash is working on two fuel-handling machines for the Indian power station. Remarkably, Uralmashzavod is Russia’s only plant capable of producing these machines. The enterprise delivered the first shipment of machinery (two cranes) in May 2006. All

ChTPZ Group is not going to buy Khartsyzskiy Pipe Plant, the company’s press officer said to UrBC. Any information to this extent (as a matter of fact, delivered to a number of magazines and investment companies via news@rusmininfo.com and featured in most online sources) is not truthful and might mislead the market players.

According to the Central Bank of Russia, volume of state-run for-profit organizations’ deposits in Bank Uralsib valid for 91 to 180 days dropped by 76.36% (from 359.5 million RUR to 85 million RUR) in January-December 2007.

'It’s true that the stock market experienced a downfall after reaching its highest-ever point, but the situation has been gradually improving over the last few days. January has been quite a peculiar month, as this was the time when RTS index plummeted down to 1,900 points after reaching 2,360.15 points as recently as December 2007. This drop can be explained by the U.S. economic problems, particularly in the business sector,’ SKB-Bank’s Trading Director Evgeniy Batuev said to UrBC. 'Most shares have been going up on the global markets lately, and many indices increase by a few

Central Bank of Russia reports volume of loans given by Sverdlovsk Gubernskiy Bank to for-profit self-regulatory organizations for over 3 years went down by 81.52% (from 586.125 million RUR to 108.3 million RUR) in January-December 2007.

The Ural Bank for Reconstruction and Development started giving considerably more loans to small and medium-scale businesses last year, so the bank’s loan portfolio grew by 75% compared to the year 2006, the bank’s press officer reports. There were several reasons for the bank to do so well in terms of business loans. Firstly, analysts claim the local small and medium-scale companies’ credit needs are only satisfied by 60% to 70%. 'Small businesses are starting to use banking services more and more often, be it leasing, factoring, Client-Bank or Internet-Bank schemes, but loans are by

According to the ranking of unit investment trusts as of January 24, 2008, the share price of BCS-Fund Index MICEX (BrokerCreditService Management Company) went down by 13.18% between January 1, 2008 and January 24, 2008.

Chairman of Moscow-based Rus-Bank Vladimir Balabanov was appointed Chairman of Ural Treasures Bank’s Board of Directors. Prior to this appointment, Mr. Balabanov was one of the BOD members. The bank’s new BOD was elected in the course of an extraordinary general meeting in October 2007. Three Rus-Bank executives were elected. These were Vladimir Balabanov, Alexander Danilin, and Veronica Urvantseva. On November 27, 2007, Rus-Bank announced it had bought a 98.42% shareholding of Ural Treasures Bank. 'Rus-Bank only entered the Urals a little while ago, so we decided to improve our position

Sverdlovsk Region’s division of the Federal Antimonopoly Service states that SverdlovEnergoSbyt, the region’s heat and electric power supplier, is guilty of violating the federal legislation on the protection of competition. According to the Service, the supplier colluded with MK Uralmetprom so that the latter could charge a certain commission while transferring the energy from the supplier to VIZ Stal and PUSK Ekb. However, any such commissions are illegitimate. Besides, SverdlovEnergoSbyt is doing business with MK Uralmetprom while ignoring the fact that Sverdlovsk Region is the area

Nizhniy Tagil Iron & Steel Works (part of Evraz Group) won five prizes in the Environmental Security 2007 contest and took part in the awarding ceremony in Yekaterinburg. Fourteen industrial enterprises, all of which are based in Ural Federal District and employ 20 to 31,000 people, participated in the competition. Nizhniy Tagil received more prizes than any other contestant: the enterprise was given three diplomas for the best corporate environmental program, the environmental management system, and waste management, as well as two second prizes for open air and surface water protection,