Prime Minister Viktor Zubkov hurries his government. However, it is quite clear, he has been given not so much time to achieve concrete results. But Zubkov has no other way out: the president gave tasks that the Cabinet should execute, though for a short period of time. Therefore, prime minister demands from his subordinates to the utmost, creating the most necessary tension. Zubkov actually followed the way of his predecessor Mikhail Fradkov, upholding the alleviation of tax burden. He demanded from the heads of the federal executive body – by all appearances, from the Ministry of Finance – to prepare own suggestions about taxes exemption of companies’ expenses and citizens for education and medical insurance, and also for co-financing of pension accruals and to pass them to the Ministry of Economic Development and Trade within the month

The Russian-Hungarian company became the stockholder of agricultural enterprise of LLC «Novaya Zarya», established on the basis of integrated agricultural production centre «Kalinovka» in Chesmensky district of the Chelyabinsk region. New co-owners of the farm who are Hungarian businessmen Miger Arbat and Sakach Laslo Chabawill will grow up grain and sunflower, press vegetable oil and breed herefords. It became known on February, 14 from the report of the press centre of the Ministry of Agriculture of the Chelyabinsk region.

Consumers, retail sellers, producers of juices, canned fruits and baby food lack apples of the Russian production. Russia would provide for itself fresh fruits almost the whole year round, if there were businessmen, ready to invest in expansion of orchards and construction of storages. The Volgograd Company OJSC Sady Pridonia declared about intention to increase the production of apples five times. But market participants doubt the possibilities of such project, as orcharding is considered the very expensive business in Russia

For the year, from January 1, 2007 to January 1, 2008, the stake of nonresidents in the authorized capitals of banks grew from 15,9% to 25,08%, is said in the Central Bank (CB) information. But the net stake of foreigners is less: if to subtract the off-shore stake of Russian citizens, comes out 22,8% (a year ago – 14,8%).

French bank Societe Generale and KM Technologies, the owner of 30% stocks of Rosbank, completed the transaction on sale of the Russian bank. Thus, in spite of billion losses from the scandal with the trader, the French bank received control over the third large branch network in Russia. Societe Generale paid $2,3 bln for Rosbank altogether and that became the new record on the Russian bank market.

The Ministry of Finance of Russia plans to begin at Moscow Interbank Currency Exchange (MICEX) holding auctions on investment of available assets of the federal budget on deposits of the Russian commercial banks in spring. Experts consider that the additional source of money will help banks to cope with transition to a quarterly mode of VAT payments. It is expected that in April credit organizations will be able to give back to the budget as taxes minimum RUR500 billion ($20 billion)

Company Quality Energy Petro International Ltd. and Chelyabinsk region government have signed an agreement about intentions on construction of oil refining and petrochemical complexes costing $4,5 bln. As Adel Al Otayba, Quality Energy Petro chairman, reported to the journalists after agreement signing, project realization foresees oil refinery construction in the region with the project power 180 000 barrels per day and complex on production of high-technology petrochemical products from hydrocarbons. “It is our first project in Russia”, marked Adel Al Otayba.

Savings Bank (Sberbank) intends to postpone the program of global depositary receipts (GDR) issue on the London stock exchange (LSE) for the second half of 2008. Reason of postponement became the unfavorable environment on western markets: in Sberbank fear the sharp fluctuations of stocks’ quotations. However, analysts consider, that terms postponement of entrance to the foreign trading floors can become a negative signal to the investors.

On December, 12, 2007 the new consumer protection law took effect as amended. Changes concern first of all salesmen of technically engineered products, large household appliances, car dealers. Well and, of course, customers. But if for a customer the law is advantageous, salesmen have the great number of claims.

Largest Russian banks by the volume of equity capital Top 200
As of October, 1, 2007