For 1H 2008, NOVATEK’s net income, Russia’s largest independent natural gas producer, has increased by IFRS standards (International Financial Reporting Standards) by 70,2%, to RUR 14,6 billion, as compared to the analogical period of 2007. The company revenue totaled RUR 42,2 billion (+36,8%), the operating revenue - RUR 19,2 billion (+63,5%). Gross operating expenses went up to RUR 22,8 billion (+22,9%)

In 2008 Ural Mining and Metallurgical Company (UMMC) intends to invest about RUR 3 billion into its core enterprise - Uralelectromed, and this figure exceeds the volume of investments twice as compared to the last year.

Russia’s Internet business already reached a certain level and became attractive from the investment viewpoint. In particular, this proves investment policy of Alisher Usmanov, who demonstrates high activity towards net projects this summer.

In the first half-year 2008 Surgutneftegaz net income grew by 85% by RAS standards (Russian Accounting Standards) as compared to analogical period 2007 and reached RUR 72,7 billion. Some analysts suppose that the company stocks can go up 1,5 times within the nearest months. In 1Q 2008 the company net income totaled RUR 19,5 billion and grew 2,4 times as compared to analogical period last year. In 2Q this index reached RUR 53,2 billion.

Sviaz-Bank net income grew 20 times for last year as compared to 2006. Such growth the bank received due to operations with financial assets and currency mainly, as well as due to their account revaluation. The bank client base has considerably increased after new board chairman - Alla Aleshkina - had come.

By 2014 Lukoil plans to increase gas extraction at four fields in Bolshekhetskaya depression in Yamalo-Netets Autonomous District (YaNAD) three times. In the company declare they have already agreed on around 30 billion cu. m. of gas deliveries to the unified gas supply system (UGSS). Gazprom does not confirm its intentions to increase quota for Lukoil. However, the monopoly will meet capacities surplus in this region by that time.

Within international air show, “Farnborough 2008″, in England Russia’s Oboronprom United Industrial Corporation (UIC) and Italian helicopter producer AgustaWestland (AW) have signed a framework agreement about joint venture establishment to produce helicopters. As it is stated in the parties’ press release, the core task of Oboronprom and AgustaWestland venture is organization of AW139 helicopters assembly in Russia.

European Bank for Reconstruction and Development (EBRD) plans to purchase 28,25% stocks of Kazanskiy Bank due to current stocks purchase and participation in additional issue. EBRD directors’ board approved this project on June, 25. Russia Partners, direct investment fund, acts as co-investor; it was established by the American Siguler Guff & Company to invest in assets in Russia and the CIS countries.

One of the survival ways for the Russian medium banks over access restriction to the capital is takeover by the foreign players. The largest Cyprian Bank of Cyprus has purchased 80% of Russia’s Uniastrum Bank at a low price. Despite the fact, the bank has an extensive multi-branch banking and long experience at the market, its price has significantly dropped as the result of world financial crisis.

First within ten years Lukoil has purchased an oil refinery in Europe: on June, 24 the company has purchased 49% in ISAB, the Italian oil refinery complex. How the company has managed to do this, how it compensates the oil extraction drop that has started this year and where it is going to operate, told in the interview Vagit Alekperov, Lukoil Company president and joint owner