Russia's net public debt falls to zero

Ben Aris in Berlin September 10, 2019

Russian President Vladimir Putin has a bee in his bonnet about debt. He paid off Russia's debts early and encouraged the government to build up its reserves. Now the state can cover all of its debts with cash.

Sberbank and Trafigura of Singapore make pilot blockchain transaction securing West Siberian oil sales

bne IntelliNews September 10, 2019

Pilot blockchain transaction during Russia’s Eastern Economic Forum is an early foray into a technology that is popular with Russians.

The Mitteleuropean view: Putin’s Belarusian ace stays in the hole?

Gunter Deuber of Raiffeisen Research in Vienna, Marcus How of Vienneast in Vienna September 10, 2019

Negotiations between Belarus and Russia on deeper economic integration are nearing completion, and the potential for surprises – such as a political or currency union – is expected to diminish.

France calls for reset in relations with Russia

Ben Aris in Berlin September 10, 2019

It’s official: France is actively working for a reset in relations with Russia. “The time has come, the time is right, to work towards reducing the distrust between Russia and Europe," Jean-Yves Le Drian, the French foreign minister says

Where is Russia’s stock market headed this year?

Ben Aris in Berlin September 8, 2019

Russia’s stock market rallied in the second quarter of this year, up some 30% since January, and broke through the 1,400 level briefly in June for the first time since the annexation of the Crimea in 2014. What happens next?

Ukraine and Russia swap 70 prisoners of war

Ben Aris in Berlin September 7, 2019

Among those released in the first concrete move towards ending the conflict between the two countries were Ukrainian film director Oleg Sentsov and the 24 sailors captured by Russia during a naval clash in the Kerch Strait in November.

Russia's car and LCV sales declined again in August by 1.3%

bne IntelliNews September 7, 2019

Russia's car and LCV sales declined 1.3% y/y to 145,545 units in August, so 8mo19 sales fell 2.3% to 1.1mn, according to the latest data by the Association of European Businesses (AEB).

Ozon battling it out for e-commerce supremacy

Ben Aris in Moscow September 6, 2019

Russia’s old economy is stagnating, but the new one of e-commerce is growing in double digits and is still accelerating. All the conditions for e-commerce to take off are now in place, CEO of Ozon Alexander Shulgin tells bne IntelliNews.

CEE monthly bond market wrap: issues halt as summer doldrums hit

Ben Aris in Berlin September 5, 2019

Bond markets are always slow in the summer, but with Russia and Turkey, two of the biggest markets in the region, in turmoil over the summer, there were almost no bond issues at all this year.

Russia's CBR is expected to cut key rate to 7% on September 6

bne IntelliNews September 5, 2019

The board of the Central Bank of Russia (CBR) is expected to cut the key interest rate for the third time in a row at its upcoming policy meeting on September 6.

Russia’s services PMI bounced back in August from just treading water in July

Ben Aris in Berlin September 4, 2019

Upturn in the services PMI lifted Russia's composite index result, but while the positive results are welcome, the poor performance of manufacturing highlights the weakness of Russia’s growth this year.

Russian companies put in yet another month of strong profits in June

Ben Aris in Berlin September 3, 2019

Russian companies are back in profit and having their best year in the last four years as they put the recession behind them.

Russia's Rosneft oil major claims Druzhba crisis still unresolved

bne IntelliNews September 3, 2019

Russian oil major Rosneft claims that state oil pipeline operator Transneft has failed to resolve all the issues with chlorine contaminated oil, Reuters reported on September 3 citing the announcement of Russia's largest crude oil producer.

Russia's Sberbank completes acquisition of Rambler online media group

bne IntelliNews September 3, 2019

Russia's largest bank state-controlled Sberbank announced the completion of acquisition of a 46.5% stake in Rambler Group, an online media and entertainment major, secured by approval of the antimonopoly authorities

Electronic payments used overwhelmingly in Russia; contactless payments increasingly popular

EWDN in Moscow September 3, 2019

Virtually everyone uses electronic payment means in Russia, with 91% to 96% of respondents, depending on the region, having used them at least once per year.

Russian food delivery company secures $5mn from international marketplace Joom

EWDN in Moscow September 3, 2019

iGooods, a major product delivery company in Russia, has agreed a “strategic partnership” with Joom. This Russian-founded international marketplace has disbursed 325mn rubles ($4.9mn) in exchange for a 10% stake in iGoods

Maximum Education secures $6.2mn from major Russian funds

EWDN in Moscow September 3, 2019

In late July Skolkovo Digital, a tech investment fund managed by Skolkovo Ventures and iTech Capital, led a $6.2mn Series B round in Maximum Education

US digital media company acquires Russian AI-driven content personalization technology

EWDN in Moscow September 3, 2019

US digital media company PressReader has acquired News360, a Russian-founded, California-based provider of content personalization and publisher analytics tools. The amount of the deal, announced last week, has not been disclosed, reports East-West D

Russian e-commerce market grows 26% in 1H19

bne IntelliNews September 3, 2019

Russian e-commerce market in 1H19 expanded by 26% year-on-year to RUB725bn ($11bn). The number of purchases online was 191mn in the reporting period, up by record-high 44%.