DALRYBBANK OPERATES YUAN

Dalrybbank's delegation led by acting director general Irina Nazaruk visited the Mudanjian division of the Heilongjiang branch of China Agriculture Bank, correspondence accounts with which were opened 6 years ago.

Demand for cashless money transfers between Russia and China is steadily growing. Both physical persons and corporate entities having joint business with China use Dalrybbank's services in currency transfer to China.

The delegation was told in the China Agriculture Bank that the Chinese side was closely watching developments in Dalrybbank during all past years and is satisfied with its latest report.

Another result of active relationships with the China Agriculture Bank was that Dalrybbank's exchange points started selling Chinese yuans. Dalrybbank's specialists recommend Russian tourists going for rest to China to take some amounts of cash yuans, because Russian rubles are accepted in China only in cross-border trade zones. - Tatiana KOZINA.

FOREIGN INVESTMENTS BYPASS PRIMORSKY KRAI

Primorsky Krai received only one-hundredth of $976.2 million received in foreign investments by the Far East federal district's economy in January - March 2004. The only region less attractive to foreign investor was Kamchatka.

As "ZR" was told at Primorsky Krai State Statistics Centre, most appealing to foreign investor are regions with a developed market infrastructure, significant raw material resources and relatively high purchasing power of populations. The federal district's leader in terms of foreign investments is Sakhalin (81.3% of total), followed by Yakutia (12.6%), Khabarovsky Krai (4.4%), Primorye (1.0%) and Kamchatka (0.7%).

The bulk of foreign investment (67.9%) is direct investments (mainly contributions to charter capital, loans, etc.). Other investments, provided on repayable basis (trade loans, loans by international financial institutions), account for 32.1%.

Investments came to industrial branches - $834.9 million, geology - $101.9 million, banking activities - $33.4 million, trade and catering - $3.7 million.

The Russian Far East's main investing countries are the Netherlands ($655.1 million), Bahamas ($101.9 million), USA ($86.3 million), India ($47.5 million) and Cyprus ($36.9 million). - Anastasia DENEZHKINA.

APARTMENT PRICES MAY RISE TO $1,400 PER SQUARE METER

By data of Trade House Ascom's information & analysis department, average price for second-hand apartments grew in Vladivostok up to $786 (+5.2%) per square meter in May.

Downtown prices rose to $903 from $856 (+5.4%), prices in intermediate and uptown areas went up to $780 from $733 (+4.5%) and to $674 from $638 (+5.6%) respectively.

By summer's beginning, apartments of some types located in prestigious areas were sold at $1,000 and more per square meters. However, there are few such cases registered. Nevertheless, analysts predict that prices for other apartment types will slowly crawl to this level during coming summer months and that average price for downtown apartments will exceed this level by September.

It should be noted that there is practically no demand for 4-room apartments of old type and relatively low demand for 3-room apartments. Most asked-for apartments are one-rooms and two-rooms of new type and bed-sitters.

Analysts say that if this dynamic continues, average price for apartments in Vladivostok may reach $1,400 by year's end - same as in Moscow at the beginning of this year. But will people pay that much for second-hand apartments? - Viktor KUDINOV.

NAKHODKA PORT WILL PAY NO DIVIDEND

Shareholders of Nakhodka Commercial Sea Port (NCSP) decided at their annual general meeting on 4 June to pay no dividend for 2003 and direct 12,057,000 rubles of net profit to port development. No dividend was paid in 2003 as well.

All seven members of the new board represent Eurasholding, which owns a controlling interest in the port through related companies. They are Timofei Khryapov, Eurasholding senior vice president, Valery Shcherbilin, OOO Eurasinvest's head of Corporate Property Depaetment, Tatiana Alova, Irina Kiseleva, Pavel Lebedev, Alexey Romanov and Mikhail Rogov.

NCSP built up its cargo turnover to 5.83 million tons in 2003, a 30.5-% increase on the preceding year. Sales receipts grew by 9.2% and reached 955.67 million rubles, while net profit decreased 2.2-fold and amounted to 12,057,000 rubles.

It should be noted that the authority of NCSP's executive body was assumed by Eurasholding on 5 April for 5 years. Its remuneration for management services will be 8,024,000 rubles (VAT inclusive) every month.

"ZR" FILE: NCSP's charter capital is 448,668,840 rubles and split into 44,866,884 ordinary shares with a face value of 10 rubles. 91.5% belongs to OOO ibmetinvest, managing Eurasholding's assets. - Olga DOBROLYUBOVA.