For a long time the BRICS countries have been trying to move away from the dollar, but creating a common currency has not been possible, due to the dominance of China's economy within the group.
Russia’s answer to Facebook is on a roll as the online market has been rocked to its core by sanctions. But its debt is growing even faster as the company goes on a wild shopping spree to consolidate its position as top dog in Russia's RuNet.
The National Bank of Ukraine has unveiled plans for a second phase of e-hryvnia testing slated for later this year, as the regulator prepares the ground to launch its own digital currency, the NBU said in a statement on March 7.
In early February, Yandex NV (YNV) - the Dutch parent company of Russia's online giant Yandex, often referred to as the "Russian Google"- announced its long expected exit from Russia. Now YNV hopes to reinvent itself, focusing on four core businesses
Russian state-controlled internet major VK (former Mail.ru) bought 70% in the Many Apps (Mnogo Prilozheniy) developer, which was among other projects one of the developers of the RuStore mobile app shop, according to Vedomosti daily.
Russia and Belarus are collaborating to establish a unified database of "extremists," according to the Belarusian ambassador in Moscow BelTA reported on February 6.
Russian officials are poised to try to shut off the Virtual Private Networks (VPNs) starting in March, as the Kremlin increasingly takes control of RuNet.
One of the longest-running corporate sagas in Russia is finally coming to an end. Yandex N.V. – the Dutch parent of Russia’s biggest internet company –announced its exit from the Russian market on February 5.
Russia imported $1.2bn worth of sanctioned advanced microchips from US and European firms in the first nine months 2023, Bloomberg reported on January 25.
Russian authorities hope to step up the development and manufacture of supercomputers. However, high costs and the sanctions slapped on Russia over its invasion of Ukraine make the supercomputer program a challenging enterprise.
As the Russian economy remains affected by Western sanctions, with no lifting of them in sight, the local IT venture segment took a major hit in 2023, almost halving in comparison to the previous year.
Bumpy existence to date includes US lawsuit payouts to investors and apparent loss of unicorn status.
Turkey’s biggest and only publicly traded e-commerce giant Hepsiburada says its ready to enter the Ukrainian market which it regards as strategic.
Deliveries of advanced machinery and technology from China to Russia have soared tenfold, the Financial Times reported on January 3.