This is the second of two volumes containing peer-reviewed research and survey papers based on invited talks at the International Conference on Modern Analysis and Applications. The conference, which was dedicated to the 100th anniversary of the birth of Mark Krein, one of the greatest mathematicians of the 20th century, was held in Odessa, Ukraine, on April 9-14, 2007. The papers describe the contemporary development of subjects influenced by Krein, such as the theory of operators in Hilbert and Krein spaces, differential operators, applications of functional analysis in function theory, theory of networks and systems, mathematical physics and mechanics.