Russia

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

One year after ban, Telegram still accessible from Russia with growing audience

EWDN in Moscow May 1, 2019

One year after Russian authorities decided to block it, the instant messenger Telegram continues to be widely accessible from Russia, reports East-West Digital News (EWDN).

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

EWDN in Moscow May 1, 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”

Wildberries leads the top 50 Russian e-commerce online stores ranked by revenues in 2018

Adrien Henni in Moscow for East West Digital News May 1, 2019

Fashion e-commerce retailer Wildberries was Russia’s biggest e-commerce online store in 2018 according to a new ranking by revenues from Data Insight, reports East-West Digital News (EWDN).

Putin dismisses Moscow's newly-appointed ambassador to Belarus amid political, economic row

Sergei Kuznetsov in Kyiv May 1, 2019

Russian President Vladimir Putin dismissed “the ambassador of war” Mikhail Babich, Moscow's ambassador to Belarus, by special decree on April 30, less than a year after his appointment.

Russia’s PMI remains in the black on rising new orders but slows from March

bne IntelliNews April 30, 2019

Russian manufacturers registered a moderate improvement in operating conditions in April on the back of growing production and a strong increase in client demand, but activity slowed from March’s strong result.

Russia drops out of the world’s top five military spenders for first time since 2006

Ben Aris in Berlin April 30, 2019

The military phase of Russia’s development began in around 2012 when President Vladimir Putin began rearming in preparation for a showdown with the west that climaxed with the annexation of Crimea in 2014. Now it has come to an end.

Turkey says alleged UAE spy hung himself in cell. Fears for Emirates NBD’s deal for Sberbank’s Denizbank may follow

bne IntelliNews April 29, 2019

Case could impact on already brittle relations between Ankara and Emirates. President Erdogan said to have so far cleared acquisition reluctantly.

KYIV BLOG: Zelenskiy’s zinger roasts Putin’s offer of passports for all Ukrainians

Ben Aris in Berlin April 29, 2019

It's what you would expect from a professional stand-up comedian: Ukraine’s president-elect Volodymyr Zelenskiy responded to Russian President Vladimir Putin’s offer to grant Russian passports to any Ukrainians that want one with cutting satire.

Arming and rearming: Military spending grows across CEE and SEE in 2018

bne IntelliNews April 29, 2019

Russia’s expenditure falls for a second year, even though Moscow fears are driving defence outlays elsewhere. Turkey committed a league-topping 24% more while Iran spent 9.5% less on its armed forces as US tightened economic noose.

Bond flows into EMs and Russia flashing red, says BCS GM

Ben Aris in Berlin April 29, 2019

Bankers warned that bond markets were “flashing red” after nearly a billion dollars left emerging market bonds in the last week, reports BCS Global Markets.

Russia opens criminal investigation in dirty export oil whodunit

bne IntelliNews April 29, 2019

Russia's oil pipeline operator Transneft launched a criminal investigation into possible deliberate contamination of oil in Russia’s Druzhba pipeline to Europe, the company said on April 26.

Russian HeadHunter valued at $675mn ahead of IPO

bne IntelliNews April 29, 2019

HeadHunter is the leader in the online recruitment segment in Russia, with over 50% market share, as well as in several neighboring Russian-speaking countries.

Record profit for Russian Novatek in 1Q19 on Arctic LNG-2 deals

bne IntelliNews April 29, 2019

Russia’s privately owned Novatek is on a tear after first quarter profits exploded, rising 666% year-on-year to $5.8bn under IFRS accounts, the company reported on April 26.

Russia’s reserves top $490bn in April, highest level since 2014

bne IntelliNews April 28, 2019

The CBR has been able to build up reserves thanks to the record high current account surplus that topped $115bn in 2018.

Russia’s corporate profits rise strongly year-on-year in first months of 2019 but a boom is still a long way off

bne IntelliNews April 27, 2019

The various crises of recent years have caused a consolidation with the result that profits have become increasingly concentrated in the biggest companies and are growing.

Putin’s popularity rises mildly in April, but governors' popularity rises dramatically

bne IntelliNews April 27, 2019

The mood of the population in Russia improved in April as approval ratings rose mildly across the board, according to the latest political polls from independent pollster the Levada Center.

Russia's business confidence turns in another -2% result in April

bne IntelliNews April 27, 2019

There was a wobble last autumn, but since the start of this year business has been cautiously optimistic about how the rest of the year will turn out.

Bank of Russia guides for first rate cut as soon as 2-3Q

Dmitri Dolgin chief economist Russia ING April 26, 2019

Russia's CBR kept its key rate at 7.75% and provided dovish mid-term guidance that suggests a rate cut in the second or third quarters of this year

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