In spite of the sanctions war between Russia and Western countries concerning the situation in Ukraine, the dynamics of industrial production shows as good indicators as any: in the third quarter the growth amounted to 1,5% against 0,6% in the previous year.

The release of goods in manufacturing industry grows most of all - 1,8%, extraction of minerals is up by 1,1%, the sphere of generation and distribution of electricity, gas and water has a positive figure now – 0,4%.

The easing of the situation in industry is observed beginning from the IV quarter of the previous year. Complicated macroeconomic climate and negative external environment didn’t exert a significant impact on the positive dynamic which in itself cannot but please.

Figure. The dynamic of the industrial production to the corresponding period of the previous year, %

In this regard, the interest is generated by the economic sectors which were affected by the trade restrictions: above all, the food industry and extraction of gas. However, in this case everything is not that simple. Thus, within 9 months of 2014 (to the corresponding period of 2013) the production of animal meat has grown on 11,4%, poultry meat – 7,4%, sausage products - 6%, cheese – 10,2%, production of milk on the contrary decreased on 0,8%.

Thus, the majority of domestic companies increase the manufacture of the goods being under sanctions. The favorable terms on the market is a certain path to the following import substitution.

A significant decrease of natural gas extraction occurred as it was expected in the fuel and power industry (above all, due to the halt in gas supplies to Ukraine) on 5,4%, and oil extraction increased on 1,2%.

Regardless of the significant ruble devaluation and decline in the oil price in October-November, we expect retaining of the positive figures according to growth in industry on yearly results.

On the 29th of October of the current year the Federation Council has passed the bill, which allows employees to choose a bank for transfer of salary by themselves. For which cause the experts expect «overflow» of natural persons in the banking sector.

As a reminder, earlier according to the article 136 of the Labor code of the RF, salary was paid to an employee on site or transferred to banking account mentioned by him/her on terms defined by collective or labor contract. Now earnings will be transferred to employee’s account in the bank chosen in his/her discretion. Employee can change credit organization in any month, this requires to file an petition in the name of the executive five days prior to next payment of salary with specification of the name of credit organization and requisites of his/her banking account.

The passed law gives the freedom of choice to clients of banks. Existing system hasn’t involved a possibility of individual choice for each employee. However today, with the development of the market of banking services, many people can have reasons to get salary namely via the bank, which is convenient for them. It’s not a secret that banks offer, as a rule, more attractive rates on credits to their payroll customers. Besides that, state and municipal enterprises choose often for payroll card programs the government banks, which differ by more conservative approach to loan issue or setting of interest rates on savings, what satisfies not many owners of salary cards.

According to experts, this bill will encourage competition between banks. Those banks will win, which develop retail programs, offer wide network of ATMs, user-friendly online bank, as well as rewards programs and savings schemes.

Along with that this bill will complicate essentially the current activity of accounting department, because now in spite of single transfer order and register for all employees, it will be necessary to form as many payment documents and registers, as banks have been chosen by company’s employees, by that this list can change each month.

The law must come into force since the day of its publication.