Merger of Extreme Digital and eMAG to create leading online retailer in CEE

Levente Szilagyi in Budapest March 21, 2019

Combined company to have annual revenue of around €220mn, and pave the way for eMag to enter five regional markets where Extreme Digital is already present.

Hungary online retail sales post double-digit growth

bne IntelliNews March 14, 2019

Online retail sales in Hungary grew 17% to HUF425bn (€1.3bn) last year, according to a survey by GKI Digital and Arukereso. E-commerce in Hungary accounted for 4.5% of total retail sales turnover last year.

World Bank to open shared services centre in Bulgaria

bne IntelliNews March 13, 2019

Development bank picked Bulgaria for its second shared services centre because of its strategic location, qualified labour force and good infrastructure.

Russian Yandex.Taxi considers introducing guaranteed minimum income for drivers

bne IntelliNews March 13, 2019

Russian mobile taxi service Yandex.Taxi considers introducing a guaranteed minimum income for its drivers, Kommersant daily reported on March 13 citing industry sources.

European patent applications from CEE states rise

Clare Nuttall in Glasgow March 13, 2019

Applications to the European Patent Office from CEE states rose strongly in 2018, though in absolute terms they still lag international manufacturing hubs in Western Europe, North America and the Far East.

BRICS countries could launch integrated payment system

EWDN in Moscow March 12, 2019

Brazil, Russia, India, China and South Africa are currently developing a common payment system designed to be used from any of the five countries with their local currencies

Two Moscow online reputation agencies secure $3mn for R&D and M&A purposes

EWDN in Moscow March 12, 2019

Online reputation management agencies Sidorin Lab and Reputation Lab have attracted $3mn in equity funding from a pool of individual investors in exchange for a 30% stake in each company.

Ukrainian-Russian startup raises $1.5mn to teach English to Polish and Spanish kids

bne IntelliNews March 12, 2019, an e-learning startup with Ukrainian and Russian roots, secured $1.5mn in a funding round led by Buran Venture Capital.

VEB.RF withdraws from blockchain competency centre in Moscow

EWDN in Moscow March 12, 2019

VEB.RF has stopped financing a digital transformation and blockchain competency centre, which it had co-founded in late 2017 with Russia’s National University of Science and Technology.

Google fixes “technical mistake” in maps that presented Crimea to Russian users as Ukrainian territory

EWDN in Moscow March 12, 2019

Five year after Russia took control of the peninsula, the sovereignty dispute between Russia and Ukraine over Crimea is still sensitive for online service providers

Crypto mining machines among top illegal electricity consumers in Bulgaria, CEZ says

Denitsa Koseva in Sofia March 11, 2019

Utility says many facilities with installed equipment for crypto mining were among over 700 companies found to be using its electricity illegally.

Yandex.Taxi increases the pressure on its drivers with customer rating system

Klemens Witte of Dialogue of the Civilizations in Berlin March 8, 2019

Driving a taxi in Moscow is an easy job to get and a favourite toehold for immigrants arriving from the other former Soviet republics looking to break into the Russian labour market, but innovations by Yandex.Taxi is making the work conditions harder

ITI Funds launch a new cryptocurrency tracking ETF fund

Ben Aris in Berlin March 7, 2019

The ITI Funds Crypto Index Fund (IFCIF) is the world’s first index fund that tracks a basket of crypto-assets.

Romania’s opposition seeks to ban Huawei from 5G projects

bne IntelliNews March 7, 2019

National Liberal Party will initiate a public inquiry into Huawei’s contribution to the country’s critical infrastructure.

Czech university first in the world in 3D printing of unique scooter frame

Nelly Tomcikova in Prague March 6, 2019

Czech Technical University of Ostrava´s team Protolab printed the world´s first unique scooter frame from stainless steel.

AliExpress to start selling cars in Russia

bne IntelliNews March 6, 2019

Chinese online retailer AliExpress is to launch sales of cars in Russia teaming up with Chinese carmaker Chery, Kommersant daily reported on March 5 citing the representatives of the company.

Russian payment system Mir launches contactless payment service

bne IntelliNews March 5, 2019

Russian payment system Mir has launched a contactless payment service MirPay, the National System of Payment Cards (NSPK) announced

Apple blocks made-in-Iran apps from iPhones with new rules

bne IntelliNews March 4, 2019

Iranian officials believe US tech giant did not need to impose outright ban but erred on side of caution after receiving software list from media opposed to Islamic Republic.

Belarus Hi-Tech Park exports up by a third in 2018 to $1.414bn

bne IntelliNews March 4, 2019

The HTP was expected to approach this target only by 2020, according to forecasts from international auditors.

Czech telecommunication office to launch auction for 5G frequencies network in November

Nelly Tomcikova in Prague March 1, 2019

Czech telecommunication office (CTU) plans to launch auction for 5G frequencies network in November this year, to attract a fourth operator and boost competition, Reuters reported on February 27. A call for tender is planned to start in summer.