Tech
Merger of Extreme Digital and eMAG to create leading online retailer in CEE
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
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
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
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
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
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
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
AllRight.io, 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
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
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
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
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
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
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
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
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
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
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
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
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.