15 January 200809:03

Uralmash Corporation signs agreement with Mikhailovskiy Ore Mining and Processing Enterprise

Uralmash Machine-Building Corporation and Mikhailovskiy Ore Mining and Processing Enterprise signed an agreement regarding the delivery of a roast machine and putting up all the corresponding facilities on the premises of the enterprise’s future pellet plant. This contract resulted from a tender where Uralmash had to compete with the Finnish Outotec and the Austrian Siemens-VAI. The deal is worth more than five billion RUR, the spokesperson for Uralmash reports. The machine itself as well as the automatic process control system is to be designed by Uralmash Machine-Building Corporation and
14 January 200809:15

SKB-Bank sets up correspondent account in Deutsche Bank Trust Company Americas

SKB-Bank set up a correspondent dollar account in one of America’s largest banks: Deutsche Bank Trust Company Americas. The bank is going to use this account for its dollar payments, the bank’s press officer reports. ‘Opening a correspondent bank account in the U.S. symbolizes the international recognition of SKB-Bank’s great financial transparency and its ability to meet the strict demands of the U.S. legislation,’ the press officer explains. In addition, SKB-Bank has already set up correspondent accounts in Landesbank Baden-Wuerttemberg, Commerzbank AG, VTB Bank (Deutschland) AG, Raiffeisen
14 January 200809:11

Outdoor ad agencies won’t be affected by ban on tobacco ads, Accent claims

‘Advertising agencies that deal in outdoor advertising are not going to suffer from the recent changes in the law on banning tobacco ads. The ban on advertising tobacco products outdoors was imposed as early as 2006, so they incurred all the losses back then,’ Accent’s Sales Director Nadezhda Matsenko said to UrBC. Worries have been raised by the Russian Government’s decision to join the World Health Organization’s anti-tobacco convention. This means any advertising of tobacco and any means of boosting sales or sponsoring tobacco products are fully prohibited. A country that decided to join
14 January 200809:07

MegaFon Ural changes Territoria tariff scheme

MegaFon Ural is going to adopt some changes in its Territoria tariff scheme on January 21, 2008. The subscriber’s fee is to go down from 7,500 RUR to 6,740 RUR a month (VAT included). This fee will cover an unlimited number of outgoing local calls, 3,000 minutes of long-distance calls and within-network roaming calls, as well as 300 text messages and 100 megabytes for GPRS Internet connection, the company’s press officer reports. What is more, the cost of outgoing long-distance calls will also grow less expensive: after you’ve used up your 3,000-minute limit, you will only pay 3 RUR per
14 January 200809:01

MegaFon Ural handles 25 million calls on New Year’s Eve

MegaFon Ural processed more than 25 million calls on December 31, 2007-January 1, 2008, with all the subscribers doing over 46 million minutes worth of talking. MegaFon Ural’s network experienced the greatest workload between 10 PM on December 31, 2007 and 1 AM on January 1, 2008, the company’s press officer reports. ‘To make sure the connection stayed reliable on New Year’s Eve, MegaFon made a lot of efforts that provided the company’s subscribers with the whole range of our services,’ says Anton Scherbakov, MegaFon Ural’s Deputy GD and Technical Director. In addition, over 17 million text
11 January 200809:23

Magnitogorsk Iron & Steel Works gets environmental protection program

Magnitogorsk Iron & Steel Works (MMK) now has a long-term Environmental Program for 2008-2015 that provides for the use of the best existing conservation technologies in all of its divisions. The investments in the fulfillment of the Program will come to more than 14 billion RUR over the next seven years. The program came into force on January 1, 2008 after the corresponding decision has been taken by the company’s Board of Directors. The program confirms the enterprise’s basic conservational strategies and provides for compliance with the environmental regulations. Within the framework
11 January 200809:19

Deposits still seen as popular form of investment, SKB-Bank says

According to the Central Bank of Russia, Russian citizens deposited a total of 4.67 trillion RUR in the country’s banks between January 1, 2007 and November 1, 2007, roughly half of the deposits being ruble ones valid for 1 to 3 years. 'The popularity of bank deposits has to do with the customers’ desire to make sure they can keep making some nice profit in the current market conditions. Today’s high interest rates that come to 13.5% sometimes are not very likely to remain the same in a year or six months, whereas if you open a bank deposit today, your contract will provide for this high
11 January 200809:17

Net assets of UralSib Management Company go down 30.89% in December 2007

The value of net assets of UralSib Management Company went down by 30.89% between December 14, 2007 and December 29, 2007, dropping from 4,751,948,473.72 RUR on December 14, 2007 to 3,283,975,060.13 RUR on December 29, 2007. This information was published in compliance with the demand that any issuer and/or a joint stock investment fund must promptly reveal any essential information that might influence their stock price.
11 January 200809:11

State of Sverdlovsk Region railways worrying, Ministry of Industry, Power Engineering, and Science warns

Sverdlovsk Region Ministry of Industry, Power Engineering, and Science feels dissatisfied with the state of events at Sverdlovsk Region Railways (a subsidiary of Russian Railways Public Company) and with the condition of the railways, the spokesperson for the Governor of Sverdlovsk Region reports. Despite the regional enterprises’ joint efforts, the railways’ freight turnover went down by 23% within the first five days of the year compared to December 2007. For instance, Nevyanskiy Cementnik, Ural Pipe Plant, Sinara Pipe Plant, and Concern Kalina never loaded a single carriage. UralAsbest and