Eastern Europe / News
Nine out of ten Russians have bought at least one item online in the last decade
Consumer trust in online stores is growing as e-commerce comes of age, and the range of products Russians buy online has also expanded.
Russia set to put Ukraine sailors from Kerch Strait clash on trial
Russia is resisting international calls to release the three Ukrainian naval ships its border patrols fired on and seized in the strait near Russian-annexed Crimea, but it looks set to put them on trial to "prove" Ukraine provoked the clash.
Russian private pension funds consolidate around state groups
Ongoing consolidation of the non-state pension funds (NPFs) has reached its final stage with four largest NPF groups (assets over RUB500bn or $7.5bn)) already accounting for 77% of all pension fund assets, ahead of next state of reforms
Putin threatens to “continue the war” in Ukraine until government changed
Putin says Russia will “prove” the naval clash in the Sea of Azov was a “provocation” by Ukraine, as Bellingcat releases more details of the now infamous incident.
December's privatisation auction for Ukrainian utility Centrenergo will go ahead despite martial law
The introduction of martial law in Ukraine will not affect a privatisation tender for the state-owned 78.289% stake in the nation's leading power generating company Centrenergo scheduled for December 13, according to head of the State Property Fund
Shipping in Kerch straits comes to a halt, Ukraine’s Sea of Azov ports at a standstill
Automatic Identification System data that tracks ships at sea shows two dozens ships are unable to move through the Kerch straits that join the Black Sea to the Sea of Azov after Russia’s coast guard rammed a Ukrainian ship.
UFG Private Equity buys Macquarie's stake in Russian Towers
Russia’s biggest private equity fund has bought a large minority stake in the telecoms tower business from its co-investor Macquarie Russia & CIS Infrastructure Fund.
IMF warns Belarus to get a 'Plan B' ready in case energy talks with Russia fail
In such an event, oil refining activity would be reduced, dampening export revenue and growth, according to the multinational lender.
Russian poultry major Damate to expand into lamb
Russian's largest producer of turkey meat Damate of Naum Babaev will expand into producing lamb meat in the Stavropol region, Vedomosti daily reported on November 28 citing the investment agreement signed with the regional authorities.
IMF sees new Ukraine programme by December 10
The board of directors of the International Monetary Fund (IMF) are due to meet on December 10 when they are likely to sign off on a new deal for Ukraine that should clear the way for the release of another badly needed tranche.
Russia sells €1bn bonds despite Azov crisis
Russia placed €1bn worth of seven-year bonds under close subscription yielding 3%, with foreign investors accounting for 75% of the placement.
Ukraine unit of Russia's VTB Bank goes bankrupt
The National Bank of Ukraine has declared the Ukrainian operations of Russia's state-owned VTB Bank insolvent following weeks of a snowballing liquidity crisis.
Putin foe Browder heads to Dublin to launch Irish Magnitsky Act
Financier Bill Browder will land in Dublin this week in a bid to introduce an Irish Magnitsky Act targeting corrupt Russian officials due to the city’s dubious reputation as a shadow-banking hub.
Martial law in Ukraine will not affect "economic operations", ministry says
The Ukrainian authorities assured local and international business that the imposition of martial law in Ukraine from November 28 does not mean limits on economic operations all over the country, however the country's transport and energy authorities
Russia's prepares first bond in euros in five years despite Azov turmoil
Russia's Finance Ministry launched a closed subscription for a euro-denominated seven-year benchmark issue of bonds, Bloomberg and Vedomosti daily reported on November 27 citing unnamed banking sources.
Ukraine imposes martial law in 10 regions for 30 days amid conflict with Russia in Azov Sea
The Verkhovna Rada greenlighted the introduction of martial law by President Petro Poroshenko following a dramatic escalation of the Ukraine-Russia conflict.
Kyiv's imposition of martial law will hurt Ukraine's economy
Kyiv’s decision to impose martial law for the next 30 days will hurt Ukraine’s economy by further undermining investors confidence in the future of the country.
Verno Capital and SPRING merge to create a Russian $500mn investment management specialist
Two leading fund managers that specialise in the Russian and CIS markets announced plans to merge their public asset management businesses.
Chinese WeChat Pay comes to Russia, Russian Mir goes global
WeChat Pay, the payment system of the popular Chinese instant messenger, is making its debut in Russia. In late October Russian Standard announced to be the first Russian bank to support such payments
Russia's Da Vinci Capital invests in DataArt, a global tech consultancy
Da Vinci Capital invests in DataArt, a global tech consultancy with roots in Eastern Europe