Russia frets about ISIS in Afghanistan, Central Asia looks sanguine

Euurasianet July 5, 2021

Russia says it is worried that the Islamic State is gaining strength apace in northern Afghanistan. The United States looks to be bracing itself for a collapsing Afghanistan. But Central Asian states neighbouring Afghanistan are much more sanguine.

Inflation expectations amongst Russia’s most vulnerable citizens ticks up to 12.9%

bne IntelliNews July 4, 2021

Inflation expectations among Russians have been high since the start of this year – more than double the actual rate of inflation – but expectations among Russia's most vulnerable are double the CBR's estimate.

ING: Russia’s faster inflation, stronger activity, harsher monetary policy

bne IntelliNews July 2, 2021

The new spike of inflation in June to 6.4-6.5% year on year combined with stronger-than-expected activity in 5M21 has reinforced the CBR's hawkish stance. We raise our CPI, GDP and key rate forecasts for this year, expecting a 75bp key rate hike.

CONFERENCE CALL: Economists warn over inflation and rising debt

Clare Nuttall in Glasgow July 1, 2021

As the world starts to emerge from the Coronacrisis, economists on an EBRD panel warned over rising inflation, debt and the uneven recovery from the crisis, with emerging markets and developing economies lagging behind their richer peers.

Russia’s manufacturing PMI contracts for the first time in 2021 on fresh coronavirus pandemic wave

bne IntelliNews July 1, 2021

Russia’s strong economic recovery from last year’s crisis spluttered in June after soaring producer prices caused the manufacturing PMI to shrink for the first time this year.

Russian game maker Nexters upgrades financial forecasts for 2021 ahead of Nasdaq listing later this year

bne IntelliNews July 1, 2021

Nexters, best known for its game “Hero Wars”, upgraded its financial outlook from existing and new titles in 2021.

Russia’s current account surplus extended gains in May to reach $35.8bn, reserves at all-time high of $605bn

bne IntelliNews July 1, 2021

Russia’s current account surplus extended gains in May to reach $35.8bn, according to the Central Bank of Russia (CBR). International foreign exchange reserves hit an all-time of $605bn as of the start of June.

Russia's business confidence at record highs, consumer confidence improving

bne IntelliNews July 1, 2021

Russia’s business confidence remained at highs not seen since 2012 in June, while consumer confidence is starting to improve but remains behind the historical average for the summer season, according to the latest RosStat survey.

Russia’s labour market recovering, unemployment falls to 5.1% in May

bne IntelliNews July 1, 2021

Russia’s labour market further extended its gains in May, as unemployment declined to 5.1% in line with Bloomberg consensus projections and the real wages gain was revised up to a whopping 7.8% y/y in April, partly due to low base effects.

Russia’s producer prices inflation jumps to all-time record high of 35.3% in May

bne IntelliNews July 1, 2021

Producer prices in Russia jumped 35.3% year on year in May of 2021, the highest level since the series began in 2005, according to the latest Central Bank of Russia (CBR) figures.

bneGREEN: Hydro’s elderly turbines need fresh investment to contribute to net zero

Richard Lockhart in Edinburgh June 30, 2021

Hydro needs new investment to replace elderly infrastructure and accelerate the road to net zero, the IEA says.

Russians had over 2mn questions for the Direct Line with Vladimir Putin

Ben Aris in Berlin June 30, 2021

In Russian President Vladimir Putin’s annual live question-and-answer session, he plays the good tsar, listens to petitions and fixes problems.

Leta Capital eyes “17,000 Russian-speaking tech entrepreneurs” based in the West

East West Digital News in Moscow June 30, 2021

The Russian VC firm Leta Capital aims to invest in Russian-speaking tech entrepreneurs across the world. This is a huge pool of talents who left their home countries to work in the West, where they outperform their peers.

M.Video uses high tech to automate CRM, raise service level and track employee attendance

East West Digital News in Moscow June 30, 2021

M.Video, a part of the M.Video–Eldorado consumer electronics retail group, now processes nearly half of customer calls via a virtual assistant called Alyona.

Fitch upgrades Russian miner Metalloinvest to investment grade ahead of mooted IPO

bne IntelliNews June 29, 2021

International ratings agency Fitch has upgraded Russian metallurgy holding Metalloinvest to investment grade on June 29, ahead of the company’s possible IPO.

S&P: EMEA faster growth, but higher inflation

Ben Aris in Berlin June 29, 2021

Emerging market economies in Europe, the Middle East and Africa (EMEA) are recovering faster than previously expected from the coronavirus (COVID-19) pandemic, but that has come with higher inflation.

Under half of emerging Europe economies to achieve full recovery in 2021

bne IntelliNews June 29, 2021

EBRD says recovery from the coronacrisis is progressing faster than expected, but many emerging Europe economies won’t return to 2019 levels of GDP until 2022.

StartupBlink: Moscow city ranks #2 in Europe for startup ecosystem development

East West Digital News in Moscow June 29, 2021

StartupBlink has just released the 2021 edition of its Startup Ecosystem Rankings Report, which encompasses 1,000 cities and 100 countries across the world, reports East-West Digital News (EWDN).

Sber acquires CRM startup Jivo for reportedly more than $20mn

East West Digital News in Moscow June 29, 2021

Earlier this month Sber, the state-controlled financial and technology giant (previously known as Sberbank), announced the full acquisition of Jivo.

Aeroflot restarts flights to tourist destinations as coronavirus infections in Russia explode

bne IntelliNews June 28, 2021

Russia formally restarted flights to major city destinations around the world on June 28, just as coronavirus (COVID-19) infections explode to levels not seen since January.