ONE-THIRD OF RUSSIAN BANKS IN TROUBLE.

Using Western accountingstandards, one-third of Russia’s 2,568 banks lost money last year,Kommersant-Daily reported July 14. But Russian rules arelooser: under Russian accounting procedures, only one-fifth weresaid to be in the red, and only 71 Russian banks have lost theirlicenses in the past year.

Economics Ministry Sets Up Agency to Attract Foreign Investments.