Eastern Europe / Tech

BRICS announce a blockchain-based payment system to create a common currency

bne IntelliNews March 28, 2024

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.

VK stuck between rising debts and growing revenues

Ben Aris in Berlin March 22, 2024

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.

NBU prepares the way for a digital currency with a second round of market place tests

bne IntelliNews March 8, 2024

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.

Yandex N.V. to reinvent itself after leaving Russia

Vladimir Kozlov in Cyprus February 27, 2024

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 internet major VK buys 70% in Many Apps developer

bne IntelliNews February 13, 2024

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, Belarus to coordinate website censorship

bne IntelliNews February 7, 2024

Russia and Belarus are collaborating to establish a unified database of "extremists," according to the Belarusian ambassador in Moscow BelTA reported on February 6.

The Kremlin's creeping control over Russia's internet

bne IntelliNews February 5, 2024

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.

Yandex N.V. leaves Russia in largest corporate exit since the start of the Ukraine war

Ben Aris in Berlin February 5, 2024

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 technology in 9M23

bne IntelliNews January 26, 2024

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.

Russia sets hopes on supercomputers

Vladimir Kozlov January 25, 2024

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.

Sanctions halve Russian IT venture investment market

bne IntelliNews January 17, 2024

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.

Turkey’s Nasdaq-listed e-commerce lossmaker Hepsiburada talks up destinations for growth

Akin Nazli in Belgrade January 11, 2024

Bumpy existence to date includes US lawsuit payouts to investors and apparent loss of unicorn status.

Turkey's largest e-commerce platform Hepsiburada is set to enter the Ukrainian market

bne IntelliNews January 8, 2024

Turkey’s biggest and only publicly traded e-commerce giant Hepsiburada says its ready to enter the Ukrainian market which it regards as strategic.

Advanced machinery imports from China to Russia soar tenfold, Russia’s technology remains impossibly far behind that of the West

Ben Aris in Berlin January 5, 2024

Deliveries of advanced machinery and technology from China to Russia have soared tenfold, the Financial Times reported on January 3.

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