vlad.tribnet.com / Issue #159 / Business / Reading article...

Minister lowers railroad freight rates

Railroad freight rates for coal, agricultural produce and metals are set to fall by 10 percent or more this year. The Minister for Railways said that the exact level of reductions will be determined on a case by case basis, but lowering rates by just two, three or five per cent, would be ineffective.

Russia lifts currency bans

Russia has temporarily lifted bans on several types of foreign currency transactions. It is now legal to use foreign currency loans to cover the liabilities of third parties, buy real estate, stocks, portions of chartered capital or to pay back existing foreign loans.

Bailiffs grab DMP cargo to pay back wages

Fishing giant Dalmoreproduct became the first Primorye company to experience the new bailiff system, Jan. 16. Bailiffs seized DMP cargo and will sell it to pay workers salaries. DMP also owes the local budget about 7.5 million new rubles in income taxes.

Investors interested, but not yet hooked

Primorye presented 40 investment projects at a symposium at America’s Harvard University last week, said First Vice Gov. Nikolai Sadomsky. Sadomsky said it was impossible to sign any concrete deals within the five days of the symposium, but businessmen from overseas showed enormous interest in Primorye.