A delegation of Sverdlovsk Region officials is to take part in the international real estate investment fair MIPIM-2011. Governor Alexander Misharin, who heads the delegation, is going to visit the fair that will take place in Cannes on March 8-11, 2011. Sverdlovsk Region’s stand will be housed in Azur Pavilion and will be finished off in one ‘trademark’ style. Throughout the exhibition, non-stop presentations of projects (including Academic, Yekaterinburg’s newest district and a multi-faceted area development project) will be made at the stand.

ZAO Bank Socété Générale Vostok is likely to merge with OAO Rosbank soon. The decision to reorganize the latter will be considered by the bank’s stockholders on April 15, 2011 OAO Rosbank BOD has already suggested that the shareholders approve of the merging agreement with ZAO Bank Socété Générale Vostok.

The international rating agency demoted X5 Retail Group’s corporate rating and its default probability rating, RIA Novosti reports. Moody's downgraded X5 from B1 down to B2 after the company had bought up Kopeika, one of the country-wide discounter food chains. The agency’s experts explain that the rating had to go down because of the expected deterioration of the company’s financial performance immediately following the transaction. The rating outlook for both ratings is Stable. X5 Retail Group completed the deal at 51.5bn RUR in December 2010. Kopeika’s stores will undergo a