Russian retailer Lenta joins buyout trend with $177mn offer

bne IntelliNews October 29, 2018

Russian second-tier retailer Lenta launched a 12-month GDR buyout programme worth RUB11.6bn ($177mn) or about of 10% of its freefloat, the company said on October 29. The buyout on the LSE will be managed by Credit Suisse.

Russians forego their summer holiday and buy a new smartphone instead

Ben Aris in Berlin October 28, 2018

Most Russians went to the dacha or stayed at home this summer and used the money they saved to update their smart phone to a newer model.

Putin’s approval rating falls to 66% in September

bne IntelliNews October 26, 2018

The Russian president's popularity took a hit following the approval of hikes to retirement ages this summer.

Shoemaker and retailer Obuv Rossii rallies on buyback announcement

bne IntelliNews October 26, 2018

Russian shoe manufacturer and retailer Obuv Rossii (OR) said it will spend up to RUB900mn ($14mn) on a share buyback, which could result in buying up to 10% of its shares, the company said on October 26.

Russia's CBR keeps key interest rate unchanged as expected

bne IntelliNews October 26, 2018

The board of the Central Bank of Russia resolved to keep the key interest rate unchanged at 7.5% at the policy meeting of October 25, as widely expected by the market.

Russia’s Yandex launches a B2B payments service

East West Digital News October 25, 2018

Yandex.Checkout together with state-owned retail banking giant Sberbank, have launched “B2B Payments” to make payments between SMEs easier.

Morgan Stanley sees Russian e-commerce grow nearly 3-fold by 2023

Adrien Henni in Moscow for East West Digital News October 25, 2018

Russian e-commerce market for physical goods will grow to $31bn by 2020 and may reach $52bn by 2023 according to Morgan Stanley

Macedonia’s opposition VMRO-DPMNE in disarray after losing name deal vote

Valentina Dimitrievska in Skopje October 23, 2018

Senior VMRO-DPMNE members accused of convincing MPs to vote for constitutional changes opposed by party leadership, and expelled from the party, amid claims of bribery and blackmail.

Russian corporate profits soar thanks to high oil prices

Ben Aris in Berlin October 23, 2018

The net profit of Russian non-financial corporations is up by half in the first half of this year thanks to higher than expected oil prices, according to a new report by HSE’s Center for Development.

Putin, Mirziyoyev launch project for Uzbekistan’s first nuclear plant

Kanat Shaku in Tashkent October 22, 2018

First concrete unlikely to be poured before 2020 but UzAtom wants 15% of Uzbek energy generation to derive from nuclear by 2030. Plant likely to be first post-Soviet operational nuclear plant in Central Asia.

CONFERENCE CALL: Making multilateralism work in the face of a nationalist backlash

Ben Aris in Rhodes October 22, 2018

The global population is growing and that is changing everything. Exponential demographic expansion is a challenge we are as yet unqualified to deal with, argued ex-German foreign minister Joschka Fischer at the Rhodes summit this year.

Russia's Sberbank reportedly seeks a blocking stake in internet major Yandex

Vadim Dumesh in Paris October 19, 2018

Russia's largest state-controlled bank Sberbank has been in talks to buy a blocking stake in Russia’s most valuable digital company Yandex. The state-owned banking giant has been holding negotiations with the founder and main shareholder

Happy 12th birthday bne

Ben Aris in Berlin October 18, 2018

bne keeps soldiering on as we believe the transition of emerging European countries into normal democracies with functioning markets is one of the most exciting stories on the planet.

Poland signs 20-year contract for US LNG

bne IntelliNews October 18, 2018

State-controlled gas company PGNiG is building a portfolio of LNG supply deals as Poland works to diversify its gas supplies and reduce dependence on imports from Russia.

Russia's Yandex.Taxi to benefit from high Uber IPO valuation

bne IntelliNews October 17, 2018

Uber Technologies could hold an IPO in 2019. The company has been valued at $120bn by Goldman Sachs and Morgan Stanley, which is the double of current valuation and exceeds the value of General Motors, Ford Motor and Fiat Chrysler Automobiles combine