Financial news: 05.01.2026, 13-08 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A103DS4 (SiburX B03) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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January 5, 2026, 1:08 PM

In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by the NCC (JSC) on 05.01.2026, 13-08 (Moscow time), the values of the upper limit of the price corridor (up to 105.88) and the range of market risk assessment (up to 1170.96 rubles, equivalent to a rate of 7.5%) for security RU000A103DS4 (SiburX B03) were changed.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Marat Khusnullin: In 2025, the Unified Customer completed construction on more than 40 federal facilities.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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The new building of the Museum of the World Ocean, Kaliningrad

In 2025, the Single Customer in Construction Company completed the construction and reconstruction of more than 40 socially significant projects. These projects are included in the register of capital construction projects and the comprehensive state program "Construction" overseen by the Ministry of Construction. This was announced by Deputy Prime Minister Marat Khusnullin.

"In the past year, the Unified Customer Production and Consulting Company (UCPC) demonstrated impressive results. The company completed the construction of over 40 major federal projects, making a significant contribution to the implementation of the national project 'Infrastructure for Life.' These include modern buildings for the Ural Federal University in Yekaterinburg, a new building for the Institute of Cardiology in Moscow, facilities for the Leo Tolstoy Museum-Estate at Yasnaya Polyana in the Tula Region, the Baltic Federal University named after Kant in Kaliningrad, and much more. The Unified Customer Production and Consulting Company (UCPC) is also the largest federal contractor for the restoration of residential and social infrastructure in the reunified regions of Russia. Over the past year, the company has restored over 1,000 residential and social facilities. Since 2022, specialists have restored over 3,200 infrastructure facilities," said Marat Khusnullin.

The company also oversaw the major renovation of several floors in the main building of Lomonosov Moscow State University and repaired the stylobate section of the Presidium of the Russian Academy of Sciences complex.

Furthermore, throughout the year, new cultural, scientific, educational, healthcare, and sports facilities were commissioned and opened, including the N.A. Rimsky-Korsakov Conservatory in St. Petersburg, the Krymsky Russian National Team Training Center in Alushta, a new building for the Russian Ethnographic Museum in Yuzhno-Sakhalinsk, a new building for the Museum of the World Ocean in Kaliningrad, the Kunstkamera Multifunctional Center in St. Petersburg, 500-bed dormitory buildings and the Center for Innovative Educational Technologies at the Solnechny Children's Camp of the Artek International Children's Center, a new building for the Center for Dermatovenereology and Cosmetology in Moscow, the State Circus building in Volgograd, and other social facilities.

Furthermore, in 2025, the restored Azov Marine Institute opened its doors in Mariupol, the renovated stadium of the Volodymyr Dahl Luhansk State University began operating in Luhansk, and the restoration of numerous sports and educational facilities was completed in Mariupol, Severodonetsk, Henichesk, Pervomaysk, Makiivka, and other cities. A large-scale program to restore housing stock and build new compensatory housing in the DPR continues.

"The company is systematically increasing its construction pace and delivering more and more projects each year. In 2021, when the Unified Customer was first established, we completed 11 capital construction and renovation projects. By 2025, this figure had already reached 40 completed projects of federal significance. This was made possible by the coordinated work of specialists at all stages of construction projects—from handover and design to commissioning. In 2026, we will strive not only to increase construction volumes but also to improve quality standards, ensuring that every social facility meets the highest modern standards and requirements," said Karen Oganesyan, General Director of the Unified Customer.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Denis Manturov held a meeting on state defense procurement issues.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Denis Manturov held a meeting on state defense procurement issues.

First Deputy Prime Minister Denis Manturov held a meeting on the implementation of state defense orders.

The event was attended by the leadership of the Presidential Executive Office for State Policy in the Defense Industrial Complex, the state corporations Rostec and Roscosmos, the board of the Military-Industrial Commission, and the head of the Ministry of Industry and Trade, Anton Alikhanov.

The meeting discussed issues related to the timely delivery of highly sought-after weapons, military, and special equipment this year. Plans for 2026 were also outlined.

Denis Manturov noted that the 2025 weapons delivery plans have been fulfilled, and all necessary resources have been secured for 2026. Specific actions have been outlined and tasks assigned to ministries and agencies on issues requiring resolution during the year.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: The Federal Treasury deposit auction for 22,025,464 will take place on 30/12/2025.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

CategoriesEconomics, MIL-OSI, Moscow, Russia, Russian Economy, Russian Federation, Russian Language, Moscow Exchange, University life /

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Application selection parameters
Date of the application selection 2025-12-30
Unique identifier for the selection of applications 22,025,464
Deposit currency rubles
Type of funds Single Treasury Account
The maximum amount of funds placed on bank deposits, monetary units 1,000,000,000,000
Placement period, in days 13
Date of deposit 2025-12-30
Refund date 2026-01-12
Interest rate for placement of funds (fixed or floating) FLOATING
Minimum fixed interest rate for placement of funds, % per annum
Basic floating interest rate for placement of funds RUONmDS
Minimum spread, % per annum 0
Terms and conditions for concluding a bank deposit agreement (fixed-term, replenishable or special) Urgent
Minimum amount of funds placed for one application, monetary units 1,000,000,000
Maximum number of applications from one credit institution, pcs. 2
Application Selection Form (Open with Random Ending, Closed, Open with Extension) Open with extension
Application selection schedule (Moscow time)
Venue for the selection of applications Moscow Exchange PJSC
Applications accepted: from 7:10 PM to 7:20 PM
Pre-applications: from 7:10 PM to 7:15 PM
Applications in competition mode: from 7:15 PM to 7:20 PM
Random trade completion period (sec.): 0
Bet step: 0.1
Time step (sec.): 60
Extension period end time: 19:30:00
Formation of a consolidated register of applications: from 7:30 pm to 7:40 pm
Setting a cut-off percentage and/or recognizing the selection of applications as unsuccessful: from 7:30 pm to 7:50 pm
Submitting an offer to credit institutions to conclude a bank deposit agreement: from 19:50 to 20:00
Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions:
Deposit transfer time In accordance with the requirements of paragraphs 63 and 64 of the Order of the Federal Treasury dated April 27, 2023 No. 10n

Financial news: The Federal Treasury deposit auction for 22,025,465 will take place on 30/12/2025.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

CategoriesEconomics, MIL-OSI, Moscow, Russia, Russian Economy, Russian Federation, Russian Language, Moscow Exchange, University life /

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Application selection parameters
Date of the application selection 2025-12-30
Unique identifier for the selection of applications 22,025,465
Deposit currency rubles
Type of funds Single Treasury Account
The maximum amount of funds placed on bank deposits, monetary units 850,000,000,000
Placement period, in days 70
Date of deposit 2025-12-30
Refund date 2026-03-10
Interest rate for placement of funds (fixed or floating) FLOATING
Minimum fixed interest rate for placement of funds, % per annum
Basic floating interest rate for placement of funds RUONmDS
Minimum spread, % per annum 0
Terms and conditions for concluding a bank deposit agreement (fixed-term, replenishable or special) Urgent
Minimum amount of funds placed for one application, monetary units 1,000,000,000
Maximum number of applications from one credit institution, pcs. 5
Application Selection Form (Open with Random Ending, Closed, Open with Extension) Open with random ending
Application selection schedule (Moscow time)
Venue for the selection of applications Moscow Exchange PJSC
Applications accepted: from 8:00 PM to 8:10 PM
Pre-applications: from 8:00 PM to 8:05 PM
Applications in competition mode: from 8:05 PM to 8:10 PM
Random trade completion period (sec.): 120
Bet step:
Time step (sec.):
Extension period end time:
Formation of a consolidated register of applications: from 8:10 PM to 8:20 PM
Setting a cut-off percentage and/or recognizing the selection of applications as unsuccessful: from 8:10 pm to 8:30 pm
Submitting an offer to credit institutions to conclude a bank deposit agreement: from 8:30 pm to 8:40 pm
Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions:
Deposit transfer time In accordance with the requirements of paragraphs 63 and 64 of the Order of the Federal Treasury dated April 27, 2023 No. 10n

The government has extended restrictions on the export of certain types of timber until the end of 2028.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Increased export customs duties on softwood and hardwood lumber (oak, beech, and ash) have been extended for three years, until December 31, 2028. A decree to this effect has been signed.

The decision will maintain restrictions on the export of unprocessed timber, for which sawn timber serves as a "cover product," and ensure a stable supply of raw materials for domestic producers.

Increased rates apply to the export of certain types of timber with a moisture content greater than 22% and a thickness and width greater than 10 cm. Export duties on softwood timber are €200 per cubic meter, beech timber – €250, ash timber – €300, and oak timber – €370.

The export tax on softwood lumber will be 10%, but not less than 13 euros per cubic meter; on oak lumber, 10%, but not less than 15 euros per cubic meter; and on beech and ash lumber, 10%, but not less than 50 euros per cubic meter.

Such restrictions on the export of timber have been in effect since 2022.

The document will be published.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

The national project "Technological Support for the Bioeconomy" has been approved.

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Source: Government of the Russian Federation – Government of the Russian Federation –

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The government is launching the national project "Technological Support for the Bioeconomy." The national project's datasheet and the federal projects it comprises have been approved by the Presidium of the Presidential Council for Strategic Development and National Projects.

The new national project is comprehensive. Commenting on this issue at an industry strategic session, Prime Minister Mikhail Mishustin noted that "Bioeconomics" will form the foundation for several areas, including chemistry, food processing, energy, medicine, ecology, and agriculture.

"By 2030, we intend to increase the level of technological independence for bioeconomy products to 40%. We plan to increase bioeconomy production by 96%, and raise the share of domestic biotech products in consumption to 55%. We will also increase the number of companies involved in training, retraining, and professional development of bioeconomy personnel. All companies in the industry must participate in this work. Our goals are quite ambitious, but our industry also has significant potential today. By working together with businesses and the scientific community, we will definitely achieve our goals," noted First Deputy Prime Minister Denis Manturov.

The national project will include three core federal projects: "Organization of Production and Promotion of Sales of Bioeconomy Products," "Scientific and Technological Support for the Development of the Bioeconomy," and "Analytical, Methodological, and Personnel Support for the Bioeconomy."

The key objective of the national project is to consolidate efforts, capacities, and resources, and create competitive enterprises, including through the modernization of existing ones.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

The government has extended support measures for tour operators in the outbound tourism sector.

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Source: Government of the Russian Federation – Government of the Russian Federation –

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Order No. 4146-r of December 29, 2025

Document

Order No. 4146-r of December 29, 2025

The deadline for paying contributions to the personal liability fund has been extended for outbound tour operators. The signed order moves it from January 15 to April 15, 2026.

This decision is aimed at maintaining the financial stability of the tourism industry amid temporary restrictions caused by the geopolitical situation. It will not affect the level of protection of tourists' rights. The freed-up funds will be used, among other things, to refund tourists who paid for trips to countries with restrictions due to security threats.

By law, outbound tour operators must pay their contributions to the personal liability fund in equal installments no later than the 15th of each month following the previous calendar quarter. The government also made decisions to postpone these deadlines in 2021, 2022, and 2025 due to the threat of the spread of the coronavirus and, subsequently, external sanctions.

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Mikhail Mishustin fulfilled children's dreams as part of the "Yolka zhelaniy" (Christmas Tree of Wishes) campaign.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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The Prime Minister invited Sasha Ivanov and Misha Kaimakov from the Krasnodar Territory, as well as sisters Margarita and Veronika Dyachenko from the Luhansk People's Republic, to Moscow.

Mikhail Mishustin fulfilled children's dreams as part of the "Yolka zhelaniy" (Christmas Tree of Wishes) campaign.

The trip's program was very eventful. The children visited the Kremlin Christmas tree, the Moskvarium, the circus, VDNKh, and also visited the Technograd innovation and education complex. There, they participated in master classes on 3D modeling and robotics, visited several workshops, observed automated production processes, observed a unique pneumatic system for developing conveyor belt assembly skills, and tried their hand at operating CNC machines.

Chatting with the children and their parents over tea after the tour, Mikhail Mishustin noted that the children whose balls he had collected from the "Yolka Zhelaniy" (Wish Tree) were very talented, determined, and creative. "This is largely thanks to your wonderful parents, who are still with you. They care for you. They rejoice at your every success. They support you when things are tough," the Prime Minister said.

Incidentally, Margarita and Veronica's father, Leonid Viktorovich Dyachenko, was able to come to Moscow. He took part in a special military operation and, after returning, continues to serve in the Ministry of Internal Affairs in his native Luhansk.

"I'm sure your daughters are proud of you, as is the entire country. You are an example of courage and love for the land where you were born and raised," Mikhail Mishustin noted.

He congratulated the children on the upcoming holidays.

Mikhail Mishustin fulfilled children's dreams as part of the "Yolka zhelaniy" (Christmas Tree of Wishes) campaign.

"I hope you've gained new ideas to inspire and develop your creative potential. The coming New Year promises many exciting events and incredible discoveries, a whole series of successes and achievements, both large and small, which will form the long, sometimes difficult, path forward to greater victories in the future. The main thing is to believe in yourself and pursue your goals. Dream, and all your wishes will surely come true, just like today," Mikhail Mishustin said, addressing the children.

At the end of the action-packed day, they all received the gifts they'd dreamed of: Margarita received a heat press, Veronica and Misha received a 3D printer, and Sasha received a construction set.

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Financial News: Current Account of the Balance of Payments of the Russian Federation with Seasonal Adjustment

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

CategoriesCentral Bank of Russia, Economics, MIL-OSI, Russia, Russian Federation, Russian Finance, Russian Language, Central Bank of Russia

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Q3 2025 15,901 34,081 -11 505 -4 852 -1 823
Q2 2025 8 681 27 232 -11 517 -5 318 -1 717
Q1 2025 10,679 29,544 -10 740 -7,045 -1,080
Q4 2024 11,824 29 293 -10 295 -5 932 -1 242
Q3 2024 13,437 32 128 -i 892 -8 242 – 558
Q2 2024 20,318 36,629 -8 841 -6 495 – 975
Q1 2024 18 228 34,444 -i 231 -6 147 – 838
Q4 2023 9,781 30,068 -8 407 -7 992 -3 888
Q3 2023 18,531 34,813 -8 989 -5 634 -1 659
Q2 2023 11,082 27,456 -i 337 -5 611 -1,426
Q1 2023 7,681 28,853 -i 541 -i 556 -2,075
Q4 2022 38,095 58,641 -6 940 -11 301 -2 305
Q3 2022 52,879 74,297 -5 802 -13 711 -1 905
Q2 2022 81,481 97,083 -4 367 -8 284 -2 951
Q1 2022 63,815 87 142 -4 959 -17 124 -1 244
Q4 2021 46,272 64,828 -4,574 -13 127 – 854
Q3 2021 41,542 56 249 -5 826 -7 586 -1 295
Q2 2021 22,828 40 168 -5 173 -11 091 -1,077
Q1 2021 15 249 29,459 -4 234 -8 166 -1 810
Q4 2020 8 152 23,979 -3 733 -10 641 -1,454
Q3 2020 7 221 20 143 -3 354 -7 907 -1 662
Q2 2020 4,452 16,935 -2 791 -7 722 -1,970
Q1 2020 16,461 32,336 -7 507 -7 243 -1 125
Q4 2019 i 119 39,069 -11 091 -14 518 -4 341
Q3 2019 17,739 40 144 -8 928 -11 864 -1 614
Q2 2019 17,640 40,357 -8 178 -13 156 -1 383
First quarter of 2019 23,751 46,683 -8 131 -12 081 -2 719
Q4 2018 35,446 54,589 -7 789 -8 907 -2,446
Q3 2018 33,220 50,429 -6 202 -8 997 -2,011
Q2 2018 24,420 46 106 -7 328 -12 236 -2 121
First quarter of 2018 20,965 42,833 -i 083 -10 426 -2 359
Q4 2017 11,226 33,059 -8 847 -10 478 -2 508
Q3 2017 2 181 23,451 -7 481 -11 420 -2 369
Second quarter of 2017 6,041 25,359 -7 351 -i 670 -2 297
First quarter of 2017 13,089 32,904 -7 220 -10 582 -2 013
Q4 2016 8,692 26 257 -6 287 -i 594 -1 684
Q3 2016 4,873 21,046 -5 511 -8 775 -1 886
Second quarter of 2016 5,956 22,396 -5 761 -i 113 -1,566
First quarter of 2016 5,425 20,632 -6 465 -7 593 -1 148
Q4 2015 12,416 29 221 -7 582 -7 784 -1,439
Q3 2015 12,901 31,681 -10 072 -7 372 -1 336
Second quarter of 2015 21,019 43,861 -i 252 -11 818 -1 772
First quarter of 2015 22,051 44,428 -10 519 -10 771 -1,087
IV quarter of 2014 13,399 40,865 -11 846 -13 872 -1,748
Q3 2014 14,798 49,743 -15 454 -17,040 -2 451
Second quarter of 2014 17,539 51,362 -13,990 -18,000 -1 833
First quarter of 2014 11 118 47 147 -13,900 -19,964 -2 166
IV quarter of 2013 7,782 45,773 -14,964 -20 341 -2 687
Q3 2013 9,087 48 163 -16,489 -20 540 -2,047
Second quarter of 2013 6,435 42 215 -13 336 -20 084 -2 359
First quarter of 2013 13,082 44,464 -13 201 -16 348 -1 833
IV quarter of 2012 11 136 45,059 -13 246 -19 032 -1 644
Q3 2012 13,407 42,938 -12 375 -15 219 -1 937
Second quarter of 2012 20,269 48,975 -i 986 -17 308 -1 412
First quarter of 2012 27,774 55,764 -10 752 -16 224 -1,014
IV quarter of 2011 26,409 52,695 -i 493 -15 454 -1 338
Q3 2011 24,369 49,928 -8 829 -15 615 -1 117
Second quarter of 2011 26,497 50 815 -7 410 -15 358 -1,550
First quarter of 2011 19,634 43,779 -7 229 -14,999 -1 917
IV quarter of 2010 11,917 35,676 -8 337 -13 664 -1 758
Q3 2010 10 227 31,908 -7 270 -12 858 -1 553
Second quarter of 2010 20,818 37,675 -5 230 -10 299 -1 328
First quarter of 2010 25,644 43,665 -5 053 -11 449 -1 519
IV quarter of 2009 18,592 35,930 -4 950 -11 200 -1 188
Q3 2009 14,432 31,572 -4 413 -11 257 -1,470
Second quarter of 2009 8,553 22,016 -3 756 -8 402 -1 305
First quarter of 2009 8,042 21,624 -4 212 -7 800 -1,569
IV quarter of 2008 13,730 27,051 -4 106 -7 637 -1,578
Q3 2008 23,391 46,543 -5 583 -15 824 -1 746
Second quarter of 2008 32,807 51,587 -5 215 -11 858 -1 707
First quarter of 2008 31,238 49,986 -5 013 -11 833 -1 903
IV quarter of 2007 23,782 37,777 -5 106 -6 953 -1 936
Q3 2007 15,538 29,043 -4 159 -7 920 -1,426
Second quarter of 2007 17,335 29 196 -3,584 -7 033 -1 244
First quarter of 2007 16 311 26,964 -3 409 -6 347 – 897
IV quarter of 2006 17,507 28 124 -3 354 -6 339 – 925
Q3 2006 25 223 36,575 -2 783 -7 719 – 849
Second quarter of 2006 25,492 36,714 -2 163 -8 728 – 331
First quarter of 2006 27,948 36,300 -2,084 -5 883 – 385
IV quarter of 2005 23,790 32,420 -3 209 -4 855 – 566
Q3 2005 18,716 29,763 -3 429 -7 241 – 376
Second quarter of 2005 23,544 29,733 -2 342 -3 532 – 315
First quarter of 2005 21 259 25,840 -2,445 -1 844 – 292
IV quarter of 2004 19,015 23,569 -2 766 -1,595 – 194
Q3 2004 16,030 21,652 -3 250 -2,032 – 339
Second quarter of 2004 13 195 19,423 -2,468 -3,414 – 346
First quarter of 2004 10,829 17,512 -2 629 -3,990 – 63
IV quarter of 2003 8,095 14,491 -2 641 -3 776 21
Q3 2003 8 220 13,480 -2 777 -2,370 – 113
Second quarter of 2003 7,641 12,220 -1 617 -2 830 – 132
First quarter of 2003 11,038 15,596 -1 933 -2,437 – 188
IV quarter of 2002 7 129 11 128 -2 192 -1 639 – 169
III quarter of 2002 7 802 11,580 -2 339 -1,428 – 11
Second quarter of 2002 7,379 10,851 -2,019 -1 179 – 274
First quarter of 2002 5,907 9,775 -2 279 -1 308 – 281
IV quarter of 2001 5,933 7,919 -1 649 – 40 – 298
III quarter of 2001 8 501 11,763 -2,487 – 572 – 204
Second quarter of 2001 8,879 12,019 -2,029 – 956 – 154
First quarter of 2001 10,582 13,969 -1,787 -1 402 – 199
IV quarter of 2000 12,240 14,661 -1 118 -1 254 – 49
III quarter of 2000 11,733 14,870 -1,568 -1,549 – 21
Second quarter of 2000 11,600 14,524 -1 180 -1 844 100
First quarter of 2000 11,412 14 204 -1,088 -1,768 64
IV quarter of 1999 8,982 11,419 – 810 -1 868 241
III quarter of 1999 5,424 7,944 – 701 -2,078 259
Second quarter of 1999 4,018 6,250 – 441 -1 911 121
First quarter of 1999 3,567 6 193 – 533 -2,046 – 47
IV quarter of 1998 5 213 8,568 – 495 -2 815 – 44
III quarter of 1998 1,033 5 101 – 907 -3 140 – 22
Second quarter of 1998 -3 661 1,069 -1 382 -3 224 – 123
First quarter of 1998 -3 886 487 -1,405 -2 803 – 165
IV quarter of 1997 – 729 3 188 -1 533 -2 223 – 161
III quarter of 1997 -1 696 2 253 -1 727 -2 108 – 114
Second quarter of 1997 – 662 2,817 -1 214 -2 193 – 72
First quarter of 1997 1,934 5,814 -1,573 -2 324 18
IV quarter of 1996 4 202 7,364 -1 174 -2,045 58
III quarter of 1996 1,289 3,932 -1 243 -1,437 37
Second quarter of 1996 1,554 4 241 -1 381 -1 264 – 42
First quarter of 1996 1,440 4,296 -1 738 -1 101 – 17
IV quarter of 1995 1,291 4,264 -2 206 – 798 31
III quarter of 1995 – 140 4,819 -3 348 -1,570 – 40
Second quarter of 1995 3 141 5 902 -2 216 – 610 65
First quarter of 1995 3,888 6,012 -1,534 – 692 104
IV quarter of 1994 1,796 4,506 -1 845 – 790 – 75
III quarter of 1994 3,788 5,864 -1,438 – 605 – 33
Second quarter of 1994 2,250 5 195 -2 326 – 551 – 68
First quarter of 1994 839 2,665 -1 394 – 383 – 48