Russia’s VimpelCom has reported a first-quarter net loss of RUB8.5 billion (US$273 million) due to a RUB23.6 billion (US$759 million) foreign exchange loss, reports Cellular News. Net operating revenues reached RUB66.8 billion (US$2.15 billion), an increase of 30.7 percent versus 1Q08 and a decrease of 4.1 percent versus 4Q08. The subscriber base increased by 1.7 million versus 4Q08, reaching 62.7 million.