Russia

Russia’s leading petrochemical company Sibur raises $208mn with bonds issue at record low yields

bne IntelliNews May 22, 2020

Russia’s leading petrochemical producer Sibur Holding successfully closed the order book for its BO-01 and BO-02 exchange-traded bond issues, worth RUB10bn ($139mn) and RUB5bn ($69mn) respectively, the company announced on May 21.

Chechen strongman Kadyrov admitted to hospital with coronavirus

bne IntelliNews May 22, 2020

The leader of Chechnya and one of the most controversial figures in Russian politics, Ramzan Kadyrov, has reportedly been admitted to “one of the best hospitals in Moscow” after he was believed to be infected with the coronavirus

Russian OFZs are an Emerging Markets investor's safe haven

Ben Aris in Berlin May 22, 2020

Russia has emerged as a safe haven for investors during the coronavirus (COVID-19) pandemic that has rocked capital markets around the world, according to a paper from the Institute of International Finance (IIF).

Moscow wounded by the coronavirus epidemic, but best prepared to weather the storm

Ben Aris in Berlin May 21, 2020

More than half of all Russia’s 300,000-plus registered cases of coronavirus infections are in Moscow, making it the epicentre of the Russian epidemic. But its size and wealth makes it the best able to cope with the crisis.

Russia's finance ministry places $2.4bn of OFZ bonds, 2020 sales tip over $14bn

bne IntelliNews May 21, 2020

Russia's finance ministry continued to place record-high volumes of OFZ bonds on weekly auctions, selling RUB170bn ($2.4bn) worth of federal bonds in three issues at a total demand of over RUB230bn ($3.2bn) this week.

Government may delay Yarovaya data law requirements for one year, due to pandemic

bne IntelliNews May 20, 2020

The government may delay imposing part of the investment obligations on telecoms companies under the so-called Yarovaya law for a year to ease the pressure during the pandemic crisis that would have cost $1bn.

Russia’s GDP shrinks by 20% in April, but government maintains a triple surplus

bne IntelliNews May 20, 2020

Russia’s economy shrank by a fifth in size in real terms in April, according to preliminary data released by the Ministry of Finance, but at the same time the government has managed to maintain a triple surplus in its external account.

Business rallies to help in fight against coronavirus across Eastern Europe and Central Asia

Ben Aris in Berlin May 20, 2020

Business leaders across the Former Soviet Union are using some of the riches they have amassed in the last three decades to help in the fight against the coronavirus.

Gazprom starts designing $20bn gas pipeline to China

bne IntelliNews May 19, 2020

Russia’s Gazprom is pushing ahead with plans to build a second major gas pipeline to China.

Russa’s coronavirus cases close to 300,000 but PM says growth in new cases has halted

bne IntelliNews May 19, 2020

Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.

CONFERENCE CALL: 5G to turbocharge post-COVID recovery

Ivana Jovanovic in Stuttgart May 18, 2020

The coronavirus pandemic has been a fertile breeding ground for 5G conspiracy theories, and legitimate concerns about security still need to be addressed, but rolling out 5G mobile networks in Europe could give economies a much-needed boost.

Russia maintains budget surplus, external position in April 2020

bne IntelliNews May 18, 2020

Amazingly In April, Russia maintained double surpluses in its external accounts with a trade surplus of $3.5bn ($35.6bn in 4M20) and a current account surplus of $1.8bn $23.5bn 4M20) despite the catastrophic collapse in oil prices.

OPINION: Why the Russian economy will inevitably become green after the COVID-19 epidemic is over

director of Creon Capital in Luxembourg May 18, 2020

Investors are “risk on” again thanks to the coronavirus, but the climate crisis has not gone away, nor has work to build a financial green infrastructure stopped. Russian companies will inevitably join the fray and are already taking action

Russian population is moving west

bne IntelliNews May 18, 2020

Three decades after the fall of the Soviet Union Russia’s population is starting to undo the legacy of central planning and is moving west.

Russian tech amid the pandemic: Impact and response

EWDN in Moscow May 15, 2020

bne IntelliNews partners East-West Digital News released a nice round up of their stories on corona and its impact on the tech business on May 14 with links to their top stories since the end of February, which we reproduce.

INTERVIEW: Prosperity Capital CEO forecasts Russian oil majors will survive as rivals go bust

Jason Corcoran in Dublin May 15, 2020

Mattias Westman, chief executive of Prosperity Capital Management, predicts Russian oil will survive an impending bloodbath which may eliminate multinationals such as BP and Exxon Mobil.

ZapSib cushions the blow of the coronavirus crisis to Sibur’s 1Q20 results

bne IntelliNews May 14, 2020

Leading Russian petrochemical company Sibur's revenues were down 7.8% year on year due to falling prices in ruble terms caused by the current economic crisis, but the newly completed ZapSib facility has cushioned the blow.

Russia’s Duma passes a law to allow remote voting in referendum on constitutional changes

bne IntelIiNews May 14, 2020

Russia’s Duma passes a law to allow remote voting in referendum on constitutional changes

E-grocery surges in April, could more than triple in 2020

bne IntelliNews May 14, 2020

The volume of orders for grocery deliveries online surged in April and could more than triple this year to $1.8bn, according to the data released by e-commerce consultancy INFOLine,

Russia’s RDIF sovereign wealth fund ready to start mass production of anti-COVID-19 drug

bne IntelliNews May 14, 2020

The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, is ready to start the mass production of a drug it claims is effective in the treatment of the coronavirus (COVID-19)

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