Medvedev: The global crisis will force Russia to seek radical change in the world’s economic system

Losses in Russian banking system up 11-fold to 13 bln rubles in Q3 – Central Bank

VEB gets 45 bln rubles to buy securities, 125 bln rubles for subordinated loans as of Nov 1

Court sentences former managers of Neftyanoi Bank

ANALYSIS

Russian GDP growth slows to 5% in October – VTB Europe

VTB Europe’s service sector index for Russia down for first time

Russian manufacturing activity down for third month in row – VTB Europe

FORECASTS

IMF lowers global, Russian economic growth forecasts

OPINION

U.S. elections to have positive impact on global economy – Kudrin

U.S. to hold closer dialogue on global economy after Obama’s victory - Dvorkovich

Debt market expected to be closed to all until mid-2009

FINANCIAL POLICY

Putin names priority sectors to receive government support

Medvedev orders tighter control over state funds allocated for support of economy

Govt to adjust short-term investment plans for state corporations, monopolies

Draft law on market participant access to Central Bank financing to be ready in Feb

Russia may annul right to early debt repayment during reorganizations

OFFICIAL COMMENTS

World needs new financial architecture – Medvedev

Putin: financial situation will not reflect on Russia’s strategic development plans

People spreading false rumors about banks should be held accountable –Medvedev

Medvedev lays out new opportunities for economic liberalization – Kudrin

G8 will closely cooperate with Russia on financial crisis - Berlusconi

Tokyo hopes to discuss new regulation rules of financial markets at G20 summit in U.S.

Peak of capital outflow from Russia has already passed – Ulyukayev

Limit on loans for small, medium businesses increased to 30 Bln rubles – Shuvalov

Money provided to banks sufficient to run settlements, extend loans – Shuvalov

State-backed banks must define funding to real economy on their own – Shuvalov

CB representatives at commercial banks will be given additional powers – Shuvalov

Control to be tightened over use of resources provided to banks - Shuvalov

Russian inflation won’t surpass 14% in 2008 – presidential aide

Russia to propose review of IMF’s role – Dvorkovich

Russian Audit Chamber to inspect spending of state loans – Stepashin

STATISTICS

Russia’s monetary base down 123.8 bln rubles in week to Nov 1

Russian ruble appreciates 0.1% against dollar in Jan-Oct

Growth in lending rates by Russian banks slows to almost two-year low of 1.7% in Sept

Russian trade surplus widens to $169 bln in 9 mths – customs

Russian customs revenue 3.7% above target in 10 mths

Natl Welfare Fund had $62.8 bln on Nov 1; Reserve Fund - $134.6 bln

Russian trade surplus widens to $169 bln in 9 mths – customs

Ruble deposits contract by 110 bln rubles in Sept – Central Bank

Russian foreign debt shrinks by $0.6 bln to $40.4 bln in Q3

Russian domestic debt up by 8 bln rubles in Oct

Russian inflation totals 0.9% in Oct, 11.6% since start of 2008

Russia to see inflation of 13%-13.5% in 2008 – minister

Russia had 0.2% inflation Oct 28-Nov 1 – Rosstat

Cost of staple food basket in Russia grows 1.4% in October

Discrepancy in customs statistics of China and Russia is $1.17 billion

CENTRAL BANK

CB boosts net dollar sales 2.2-fold, euro sales 7–fold in Oct

Russian Central Bank could launch repo operations with shares in November

Central Bank uses new method to calculate reserves; at $484.6 bln on Oct 31

Central Bank ready to compensate interbank loan losses for three banks

Central Bank increases term of unsecured loans to 6 mths for some banks

Central Bank identifies criterion for compensating bank losses on interbank market

Russian Central Bank endorses procedure for DIA participating in bank recoveries

Lending to Russia’s real sector slowing down – Central Bank

RUSSIAN BANKS

MERGERS & ACQUISITIONS, REGIONAL DEVELOPMENT

Bank of Cyprus closes purchase of 80% in Uniastrum bank

Otkritie to acquire 100% of Russian Development Bank

Financial crisis won’t affect Intesa Sanpaolo operations in Russia

LOANS

Sberbank tightens consumer lending, mortgage terms

Magnit could seek syndicated $250 mln loan

MMK mulls long-term VTB loan

Sedmoi Kontinent to get 2.5 bln loan from VTB

FINANCIAL INSTRUMENTS

Finance Ministry auctions 15.5 bln rubles in bank deposits at 9.60%

Cutoff rate at auction for five-week unsecured loans totals 9.6%

Russian Central Bank to offer 200 bln rubles in unsecured loans on Nov 10-11

Russia’s Sibirtelecom postpones $100-mln CLN placement until 2009

FINANCIAL RESULTS

Russian banks lose 94 bln rubles from revaluation of securities in September

Top-5 banks account for 84% of asset growth in Russian banking system in Sep - CB

Russia’s VTB Bank sees earnings fall 78.3% to 2.6 bln rubles in Jan-Oct

SHAREHOLDER & BOARD MEETINGS

Basel again blocks PPF Investments representatives from joining Ingosstrakh board

RATING ACTIONS

Moody’s changes outlook on Sobinbank’s deposit ratings to positive

Fitch places Russia’s Spurt Bank rating on Watch Negative

NONBANK FINANCIAL INSTITUTIONS

Russia’s CJSC MICEX sees earnings fall 7.5% to 1.765 bln rubles in Jan-Sept

TRENDS

DOLLAR CONSOLIDATES NEAR 27 RUBLES/$1

OFZ QUOTES SLIDE

EUROBOND MARKET CONTINUES TO CLIMB

Russian stock market loses optimism as RTS Index slips below 800 points

RESULTS OF RUSSIAN STOCKS TRADING IN RUSSIAN TRADING SYSTEM

STOCK INDEXES

CIS AND THE BALTIC

UKRAINE

President upbeat about Ukraine economy

NBU requires banks to hold cash dollar sales at no more than 6.2 hryvni/$1

Ukrainian banking sector will see heightened acquisitions and mergers – NBU head

Ukrainian inflation in Oct at 1.7% and 18% since year’s start

NBU’s international reserves drop 15% in Oct, almost 2% since year’s start

Ukrainian privatization revenue just 4.5% of target in 10 mths

Fitch: IMF loan supports Ukraine, but risks remain

Tymoshenko nationalization remarks harming Ukrainian investment climate – billionaire Akhmetov

BELARUS

S&P confirms Belarus’ sovereign ratings, changes outlook from stable to negative

Belarus to launch full bank deposit guarantee on Jan 1

Belarusian reserves contract 3.1% in 10 mths

IMF to continue consultations with Belarus on loan

KAZAKHSTAN

Kazakh inflation in Oct slows to 13.9%

Kazakhstan’s gold and Forex reserves drop 4% in Oct, increases 23% in 10 mths

UZBEKISTAN

Uzbekistan boosts trade surplus 90% in Jan-Sept

Inflation in Uzbekistan at 4.5% in 9 mths

KYRGYZSTAN

IMF to decide on providing financial assistance to Kyrgyzstan in Dec

AZERBAIJAN

Azerbaijani president approves $320-mln loan agreement with BNP Paribas

Money supply in Azerbaijan grows 35% in Jan-Sept

Azerbaijan’s forex reserves up 140% in Jan-Sep - MinFin

Azerbaijan’s foreign debt up 14.6% in Jan-Sep

ARMENIA