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. Last Updated: 07/27/2016

Business in Brief

PARTAD License Back

The Moscow Times

The Federal Securities Commission on Friday restored the license of the Professional Association of Registrars, Depositories and Transfer Agents, or PARTAD.

The decision was adopted after PARTAD fulfilled the FSCs requirements. The securities watchdog suspended PARTADs license on Nov. 17.

The FSC demanded then that PARTADs management conform to PARTADs charter and said the authority of the PARTAD board elected on Oct. 23, 1998, had expired.

Court Supports CMD


A court has overturned a bankruptcy suit filed against the Central Moscow Depositary and rejected a claim for the companys management to be removed.

The CMD maintains the registers of more than 650 companies or about 1,200 counting subsidiaries. Its clients include Unified Energy Systems.

The bankruptcy case was filed due to the failure to return 8.7 million rubles ($312,000) to 13 private individuals from whose accounts the CMD had written off Tyumentelekom shares.

Rail Freight Suit Filed


The Railways Ministry has filed a suit in the Moscow arbitration court after the Anti-Monopoly Ministry rejected a proposal that domestic freight tariffs be increased.

The Railways Ministry applied to the Anti-Monopoly Ministry on Sept. 15 with a proposal to increase tariffs on domestic freight by up to 20.5 percent.

On Nov. 23, the Anti-Monopoly Ministry turned down the Railways Ministrys proposal. The Railway Ministry said the decision "violates its rights and the rights of the railways. The governments decision does not explain the reasons for the rejection, which directly contradicts a number of articles of the federal Law on Natural Monopolies."

Privatizations Reviewed

The Moscow Times

YEKATERINBURG, Ural Mountains A district branch of the Property Ministry is to be set up in the Urals Federal District, which is primarily intended to establish the legality of privatizations, Interfax reported.

A candidate selection process is under way for the head of the new division, said Pyotr Latyshev, President Vladimir Putins representative for the district, at a news conference in Yekaterinburg.

A study of the legality of the privatization of enterprises in the Sverdlovsk region had been completed, he said.

The survey revealed several violations. Evidence of the violations had been transferred to law enforcement bodies.

Customs Shuns Euros

The Moscow Times

The State Customs Committee on Thursday applied to the government suggesting that they not use the euro currency when determining customs rates, Andrei Kudryashev, head of the department for tariff and non-tariff regulation with the state customs committee, was quoted by Interfax as saying.

He said "the euro is steadily falling and is widely forecast to fall further," adding that customs tariffs expressed in euros would result in a "reduction of the actual volumes of customs payments."

U.S. Satellite Launched

The Associated Press

A Proton rocket successfully delivered a U.S. commercial satellite into orbit, the Strategic Missile Forces said Friday.

The Sirius 3 satellite, manufactured by Loral Space and Communications, was launched late Thursday from the Baikonur Cosmodrome in Kazakhstan.

The satellite will provide radio broadcasting for motorists in the United States.

U.S. companies routinely use Russian space facilities to launch commercial satellites.

Customs Fulfills Plan

The Moscow TImes

The State Customs Committee said Friday it fulfilled its yearly financial plan Thursday, having collected 320.67 billion rubles ($11.13 billion), or 40.22 percent of the federal budget for 2000.

A committee statement released Friday said customs staff had collected 35.7 billion rubles, or 128 percent of the plan for the month.

Key Telecoms Excluded

The Moscow TImes

Svyazinvest announced Friday that Moscow City Telephone Network, or MGTS, and Central Telegraph would not be included in Tsentr, its Central District operator, which is the most lucrative of the seven operators that will result from consolidation of the countrys 80-plus telecoms.

The exclusion of Central Telegraph was a surprise, since state-controlled Svyazinvest had said Monday that the holding would be included.

Central Telegraph controls 51 percent of Central Telegraph Mobile, which controls 65 percent of mobile telephone operator Sonic Duo, which holds Moscows third GSM license.

Lubricant Additive JV

The Moscow TImes

The nations No. 1 oil major LUKoil and Chevron Oronite Co., LLC, have signed a statement of intent to create a joint venture to produce lubricating oil additives at LUKoils Volgograd refinery, LUKoil said Friday in a statement.

Chevron Oronite is a subsidiary of U.S. oil major Chevron that develops, manufactures and markets lubricants and fuel additives for petroleum products.

Under the protocol the additives will be produced using Chevron Oronite technology and the joint venture will market them in Russia and the rest of the Commonwealth of Independent States.

Rating Office Closes

The Moscow TImes

The Moscow office of rating agency Thomson BankWatch is closing its doors in the wake of the acquisition of the companys international business by French financial services group Fimalac.

Fimalac completed the acquisition on Friday, following a regulatory approval of the deal. Thom-son BankWatch will become part of Fitch, Fimalacs international rating agency.