Capital Reinsurance CJSC is going to set up an office in Yekaterinburg in order to coordinate the company’s activity in the Ural Federal District, reports their spokesperson.’ ‘Our presence in Yekaterinburg makes it much easier to deal with the reinsurance contracts quickly. Since we are trying to be client-friendly and offer high quality service, we’ll introduce more offices in a number of Russian regions soon,’ said Deputy Director of Capital Reinsurance CJSC Alexander Korolev.

‘The two major non-ferrous metallurgical enterprises in Sverdlovsk Region, Electrolytic Copper Works of Kyshtym and Karabashmed CJSC, are part of Russian Copper Company,’ General Director of Zinc Plant of Chelyabinsk Vsevolod Geihmann announced at the meeting of PROMASS, the Organization of Employers of Chelyabinsk Region. ‘It is certain that the copper and zinc producers have a brilliant future ahead of them. Suffice it to say that the global output of zinc comes to 10.5 million tons per year. This amount appears to be unsatisfactory, so there has definitely been some zinc shortage that has

Ramenka Ltd. (Ramstore chain of retail stores) is planning on introducing their store in Magnitogorsk, Chelyabinsk Region, in 2006. ‘This particular city and Ural Federal District as a whole are quite attractive in terms of chain development in Russia, so breaking into the Ural market is our top priority at the moment. We have been working on a few projects targeted at a number of Ural cities simultaneously. For instance, we set up the first Ramstore in Ufa in 2006 and hope to open stores in Yekaterinburg, Chelyabinsk, Perm, and Ohrenburg soon,’ the company’s spokesperson said to UrBC

The production of iron and blast-furnace ferroalloys in Chelyabinsk Region grew by 3.4% in the six months of 2006 compared to the first half of 2005; the output of rolled metal went up by 8.7%, steel output increased by 4.6%, steel tubes output by 18.8%. The output of ferrosilicon rose by 2.8 times, pure copper output grew by 24%, nickel output by 33%. In addition, 9.6% more metal products were produced compared to the period of January to June 2005, the spokesperson for Chelyabinsk Region Ministry of Economic Development said to UrBC representative. The experts from the Ministry have also

Magnesite Industrial Complex JSC (part of Magnesite Group) produced 29,800 tons of refractory goods in June 2006, which exceeds the figures for June 2005 by 8%. The production of commercial powders went up by 26.6% and came to 69,300 tons, the spokesperson for Magnesite Group said to UrBC representative.

According to the Central Bank of Russia, the volume of long-term loans (given for a term of 3 years or more) given by CreditUralBank JSC to sole traders has gone down by 15.5% within the first six months of 2006. At the beginning of the year, the bank’s loan portfolio (as far as sole traders were concerned) was worth 3, 083,000, 000 RUR, whereas it came to only 2,667,000,000 RUR on June 1, 2006. There also appears to be a decrease in the volume of short-term loans (given for a term of 1 to 3 years) from 86,450,000,000 RUR on January 1, 2006 to 84,664,000,000 RUR on June 1, 2006.

Ural Airlines JSC reduced the fuel fees for flights to Dalaman, a popular summer destination in Turkey, from $16 in June to $12.5 starting July 4. Thus, this international charter flight has become even more available for regional passengers. The new fuel fee equals to that for flights to Hurgada, Sharm-El-Sheikh, Antalia, and Pula. The fee for flights to more expensive resorts in Larnaka, Barcelona, Saloniki, Iraclion, Varna, and Burgas have so far remained the same ($16 for a single trip). Yet as soon as the destination is classified as popular, the airline is trying to cut the passengers’

According to the data provided by the website of Severnaya Kazna Bank JSC, the net wealth of UralTransBank JSC has gone up by 8.8% within the first six months of 2006. This places the bank on the list of the most successful banks of Sverdlovsk Region (8th out of eight). The experts of Severnaya Kazna Bank JSC also indicate that the amount of investments drawn to natural persons accounts in UralTransBank have increased by 7.1% throughout January to June. This also means the bank rating last on the best banks list.

No. 10 turbine compressor is going to be put into operation at the heat and power plant of Metallurgical Industrial Complex of Nizhniy Tagil JSC (part of Evraz Group). The assembling has by now been fully completed; the company’s technicians are through with the balancing and commissioning and are now busy testing the equipment, which is estimated to take about one and a half months. The new turbine compressor was created for No. 5 blast furnace currently under construction. The compressor will provide the furnace with compressed air needed for melting. The machine is fully automated; its

According to the Central Bank of Russia, arrears of credit payments by nongovernmental commercial organizations to Ural Treasures Bank have gone up by 49% (from 7.583 million RUR to 11.306 million) throughout January to June 2006. As for the period of January to May 2006, the arrears of credit payments went up by 19% (from 7.583 million to 8.988 million).

Technicians of Beloyarskaya nuclear power plant started concreting the would-be footing of the main building of BN-800 feeding unit. The new No. 4 feeding unit with a fast-fission reactor will have been put into operation in 2012. No. 3 BN-600 feeding unit with a fast-fission reactor is the only operating one at the moment. It has to be closed down in 2010, yet the experts are looking into the possibilities of extending its life up to 2025. The AMB-100 and AMB-200 thermal reactors 1 and 2 have already been closed as worn out. After the plant completes the innovational BN-800 feeding unit, it

There are 21 workers in municipal clinic № 40 now; doctors say they feel okay, reports the spokesperson for Sverdlovsk Region Ministry of Emergency Management. ‘105 patients were found healthy and allowed to leave the hospital yesterday,’ said the spokesperson for the Ministry Natalia Ziryanova. She added that the experts from the local division of Rospotrebnadzor, the consumer goods monitoring service, will have completed the lab tests by no later than July 19. The preliminary diagnosis (food intoxication) has so far remained the same.

Metallurgical Industrial Complex of Magnitogorsk has reduced its ore output by 7.7% (down to 672,600 tons) in the first six months of 2006 compared to one year earlier; the production of agglomerate came to 5,452,600 tons, the production of coke to 2,780,000 tons, the production of iron to 4,920,200 tons, the production of steel to 5,922,000 tons, the production of rolled metal to 5,479,600 tons (which is 9.5% more than in the six months of 2005). The output of metal goods comprised 5,379,200 tons, the company’s spokesperson said to UrBC representative.

According to the Bank of Russia, the doubtful consumer debt to Snezhinksiy Bank JSC has gone up by 60.6% (from 3,505,000 RUR on January 1, 2006 to 5,630,000 on June 1, 2006) in the first six months of 2006.

Some personnel changes have taken place in MegaFon/Ural GSM, the local division of one of major Russian mobile operators. Denis Malyshev was appointed General Director; former GD Alexander Arnautov decided to retire. Mr Malyshev was earlier employed in the capacity of Regional Development Director by Delta Telecom (Skylink) CJSC and then as GD of Mobicom Center CJSC (MegaFon) He will be succeeded in the latter position by Andrey Eremkin, former Deputy GD of Mobicom Center.

Having conducted a fundamental analysis of the bank’s accounting reports up to June 1, 2006, the independent experts from Bankir.Ru stated that ChelIndBank JSC had a low credit risk rate as well as great financial stability and paying capacity. According to the experts, the bank’s resources are quite diversified in terms of attracting investments and in terms of currencies; there are no arrears of payments so far as attracted investments are concerned, and the sources of capital are found altogether reliable. The assets were classed as good quality ones and the profitability of operations as

‘The current condition of workers taken to hospitals from the construction site can be characterized as stable. We are going to have the results of the microbial flora test ready tonight, and, if these results don not alarm the doctors, all of IKEA employees will be allowed to leave the clinic,’ the spokesperson for municipal clinic № 40 Marina Ruvinskaya said to UrBC representative. ‘There are 126 patients out of 155 workers with food poisoning in the hospital at the moment. The rest of them took unauthorized leave without waiting for the results,’ Ms Ruvinskaya added.

Russian Expo Arms 2006, the international arms exhibition, was closed up on July 15, 2006. It was attended by over 200 enterprises from 34 Russian regions and 14 foreign countries. This has been the fifth exhibition so far, with the event taking place every two years at the range of Nizhniy Tagil Institute of Metal Testing. Among the exhibits were military equipment, arms, ammunition, maintenance facilities, different kinds of cloth, armor, and special accessories.

RusRating agency raised the short-term credit rating of Ural Bank for Reconstruction and Development and classed it as stable. ‘The increase in rating indicators is due to the bank expansion resulting from a merger with Sverdlsotsbank, building up its share of the market as well as reducing the number of trusted affiliated companies and diversification of the bank’s liabilities,’ explains RusRating analyst Larissa Makarenko. Among the growth-restraining factors is a high share of related party loans in the bank’s assets accompanied with a meager contribution of the related parties to the bank

‘Last Wednesday (July 12, 2006), some builders employed by Korai, a Turkish company, to work at the construction site of IKEA store and MEGA shopping center in Yekaterinburg, went down with food poisoning. Korai is an independent enterprise that is not part or division of IKEA,’ reports the spokesperson for the Swedish company. ‘Korai had arranged the catering with an outsource company and now has to look into the causes of the poisoning. The results of lab tests carried out by the laboratory of municipal clinic № 40 and the epidemiologic services revealed no signs of bacteriological