Russian HeadHunter makes first NASDAQ IPO since 2013

bne IntelliNews May 13, 2019

Leading Russian online job search portal HeadHunter completed its IPO on NASDAQ, on May 9 placing 16.3mn ADRs or 32% of capital at $13.5 per ADR, the upper range of price guidance. The shares of the newcomer jumped by 24% at the start of trading

CEE monthly bond wrap: bond investors suffering April showers and still waiting for the flowers

bne IntelliNews May 8, 2019

April was a poor month for bond issues in Central and Eastern Europe as the two biggest markets – Russia and Turkey – were both suffering from political problems that depressed demand.

Russia's nuclear power exports are booming

Ben Aris in Berlin May 8, 2019

State-owned Rosatom operates 35 nuclear power stations in Russia, and is actively exporting its nuclear technology to countries around the world.

Russia’s Gazprom tightens control over investment programme in an effort to cut waste

bne IntelliNews May 8, 2019

There has been yet another shake up at Russia’s state-owned gas behemoth Gazprom, as the company attempts to improve efficiency and cut down on wasteful spending.

VTB London unit starts relocating to Frankfurt as losses pile up

Jason Corcoran in Moscow May 7, 2019

Russian bank VTB is relocating business lines and bankers from its London unit to Frankfurt after losses from its London unit tripled

Hungary and Russia amend loan agreement on Paks nuclear power plant

bne IntelliNews May 7, 2019

Budapest opened talks on rescheduling the Russian loan for the Paks expansion when it became clear that the new blocks would not start operations in 2025-2026 as originally planned.

Russia's Services PMI eases notably in April, composite output down

bne IntelliNews May 6, 2019

Russia's services sector posted a notable slowdown in April, as the May 6 report by IHS Markit showed the softest rise in services output since June 2018, while the rate of new business growth slowed down to a ten-month low.

Russian crude production down 0.6% m/m in April, gas output rose 3.9% y/y

bne IntelliNews May 6, 2019

The decline in Russian crude output continued to be driven by the production cuts at integrated oil companies under the OPEC+ agreement. The exception was Gazprom Neft, which increased crude output 3.3% m/m.

Aeroflot Sukhoi Superjet 100 crashes at Moscow airport killing at least 41

bne IntelliNews May 6, 2019

Surviving members of the crew said the SSJ-100 was struck by lightning after take-off and had to attempt an emergency landing in harsh weather conditions.

Hegemony of state in Russian economy deepens, warns watchdog

bne IntelliNews May 5, 2019

The process of the strengthening of state's role in the economy has switched gears, as the state is no longer simply setting the rules of engagement, but attempts to regulate the whole economic system of the country, says the-antitrust regulator

Russia's privately owned oil major Surgutneftegaz makes more profit from its cash pile than producing oil

bne IntelliNews May 5, 2019

Russia's privately owned oil major SurgutNefteGaz (Surgut) made more profit from its enormous cash pile than it did from producing oil in 2018, the company reported last week.

GAS WARS: Ukraine faces a bleak winter as Russia prepares to cut it off

Ben Aris in Berlin May 5, 2019

Winter is coming and it promises to be bleak for Ukraine as Russia is clearly preparing to cut its neighbour out of its gas transit system completely. bne IntelliNews talks exclusively with executive director of Ukraine’s gas company Naftogaz

Naftogaz triples gas imports, races to build up reserves before Russia’s Gazprom cuts off supplies

Ben Aris in Berlin May 5, 2019

Ukraine’s national gas company Naftogaz believes that Russia will cut off its gas supplies completely on January 1, 2020 and is rushing to build up reserves as high as possible so that Ukraine can get through the freezing winter.

COMMENT: Chinese engagement in CESEE: paper dragons and false inevitabilities?

Gunter Deuber of Raiffeisen Research in Vienna, Marcus How of Vienneast in Vienna May 3, 2019

The Belt and Road Initiative (BRI) is no less than an attempt by the Chinese to reshape the international order, but it has acted as a strategic opportunist and has no clear development plan.

Investment flows into EMs up – except Russia

bne IntelliNews May 2, 2019

Non-resident investment flows into emerging markets equity was up in April to $38bn in April, except Russia which saw $2.8bn of outflows as sanctions fears reappear.

Moscow aims to become a top three global startup venue by 2030

bne IntelliNews May 2, 2019

Moscow is moving up the global rankings for cities that welcome startups and aims to enter the top three by 2030, according to Alexey Parabuchev, general director of Moscow’s Agency of Innovations.

Russia's carmaker AvtoVaz turns in first profit for a decade

bne IntelliNews May 2, 2019

Russia's largest carmaker AvtoVaz posted net profit of RUB5.86bn ($90.5mn) in 2018 – the company’s first profit in a decade.

Mordashev's Severgroup completes Lenta acquisition despite Magnit bid

bne IntelliNews May 2, 2019

Severgroup of steel tycoon Alexei Mordashov completed the acquisition of 41.9% of Russian retailer Lenta and is expected to make a binding buyout offer to minority shareholders, which was part of the deal, Lenta reported to the London Stock Exchange.

Russian stoligarch Rotenberg, defence conglomerate and satellite navigation operator team up to create nationwide IoT network

EWDN in Moscow May 2, 2019

GLONASS-TM, a company launched in early 2018, intends to deploy an Internet-of-Things (IoT) network across Russia as part as a “government assignment”

Russia’s tiny, but growing venture capital market reached $714mn in 2018

EWDN in Moscow May 1, 2019

Russia's VC market grew by half in 2018 to reach $714mn as funds play a bigger role and invest three times more on average than in 2017