Russia
Russia’s Sberbank reportedly eyes media major Rambler, registers Sber trademark
Russia’s largest bank and digital economy powerhouse Sberbank plans to buy a stake in major internet media group Rambler controlled by Alexander Mamut, Vedomosti daily and RBC business portal reported on April 22 citing unnamed sources close to the d
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Russia’s real disposable incomes fall 2.3% in 1Q19 extending stagnation in incomes into sixth year
The stagnation in real disposable income has led to a slow deterioration in the quality of life for ordinary Russians and is feeding a growing propensity for social unrest.
Russia’s Ministry of Finance holds another record breaking OFZ treasury auction
Russia’s ministry of finance is on a tear as it got another no-limits bond auction for its ruble denominated OFZ treasury bills away setting a fresh record.
The share of Russians who consider themselves middle class down from 60% to half
The number of Russians that consider themselves to be part of the middle class has fallen as real incomes stagnate and years of crisis weight on confidence, according to the quarterly "Ivanov Consumer Index" poll.
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I play a game of Risk with my son using the real distribution of great power military bases around the world.
Moscow Exchange CEO changed but strategy to remain the same
The CEO of the Moscow Exchange Alexander Afanasiev, who oversaw a revolutionary change in Russia’s capital markets, has stepped down a year early and will be replaced by Yury Denisov, another capital markets professional.
Russian data regulations fuelling the rapid growth of Russian cloud services
The clouds over Russia’s burgeoning e-commerce business are swelling, but that is a good thing as the cloud services business expanding on the back of new regulations that are feeding an already fast growing business.
Central and Eastern European countries' high-tech exports boom
Central and Eastern European (CEE) countries high-tech exports are booming, according to a study recently conducted by RS Components, based on an analysis of 10 years of high-tech export data from The World Bank.
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Combined net profit of Russian banks soars to RUB587bn in January-March as sector continues to recover
The Russian banking sector's recovery is expected to continue this year. The cumulative profit of the sector is already well ahead of any of the last four years.
EU approves the European gas directive, Gazprom submits third application for Nord Stream 2 pipeline route through Danish waters
The EU Council finally approved a European gas directive on April 15 that is expected to delay commissioning of the Nord Stream 2 gas line – and potentially leave it half empty.
Russia's Ministry of Finance takes "manual control" over the most indebted regions
With the Russian public finances in rude health the government is moving to take tighter control of regional debt, the build-up of which nearly caused a crisis only two years ago.
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The Russian producer price index rose 10.9% y/y in March
The Russian producer price index rose 0.9% on the month and 10.9% on the year in March after a 0.1% month-on-month increase in February, the Federal State Statistics Service said in a statement on April 16.
Russia restarts Turkmen gas imports after 3-year stoppage
Volumes not yet known but news could be substantial boost for Turkmenistan’s embattled economy.
COMMENT: Russia: industrial output slows back to reality
The return of industrial output to moderate 1.2% year-on-year growth in March confirms the technical nature of February's 4.1% y/y spike. So far we see signs of a slowdown of investment activity at the beginning of 2019.
German investments in Russia reach their highest level in the last decade
Investments by German businesses into Russia topped €3bn in the last decade, although the number of German firms operating in Russia has fallen from over 6,000 to circa 4,500 in the same period.
Russian children's store Detsky Mir puts in robust 1Q19 trading results, launches in Minsk
Real incomes in Russia may be stagnating but people are still spending on their kids and most of Detsky Mir's gains came from increasing customer numbers.
VEB.RF to buy major stake in stoligarch Rotenberg's construction company Mostotrest
The deal is bound to raise eyebrows as Rotenberg has grown wealthy on innumerous state contracts to construct major pieces of infrastructure.
Russia’s industrial output grew 1.2% on the year and 10.3% m/m in March
The result was a slowdown after February’s surprisingly strong result.
Russia's Yandex could cash in $96mn on Uber shares
Russian internet major Yandex has the right to sell its stake in Uber Technologies that are worth $96mn, Prime reported on April 12 citing documents published by Uber.
Russian HeadHunter service prepares for IPO
Russia's leading job searching service HeadHunter prepares for a $250mn IPO in May-June 2019 on NASDAQ, Vedomosti daily reported on April 11 citing unnamed investment bankers and sources close to the shareholders of the company.