Russia

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.

Significant differences in pace of development in various sectors of the Russian economy

bne IntelliNews June 27, 2021

Russia’s economy has been bouncing back from the coronavirus (COVID-19) pandemic well and industrial production was up a strong 11.8% in May year on year, but drilling into the details and different sectors are recovering at very different speeds

M.Video-Eldorado Group – Russia's retail lion

Ben Aris in Berlin June 27, 2021

The merger between Russian consumer electronics giants M.Video and Eldorado in March 2018 created the biggest electronics retailer in Europe, but now it is in a new race against fast growing e-commerce companies.

bneGREEN: the climbing cost of carbon

Richard Lockhart June 25, 2021

The cost of joining the global movement towards net zero is not yet fully known, and both governments and corporations with the highest levels of both greenhouse gas emissions and energy intensity face the highest costs for carbon.

Russian forces oppose the UK Navy’s Freedom of Navigation Operation off Crimea

bne IntelliNews June 25, 2021

The British 8,500-tonne destroyer HMS Defender was buzzed two days ago by Russian fast jets off Sevastopol. Moscow promptly claimed that Defender was trespassing in Russian Territorial Waters and refusing to follow Russian orders.

Gazprom reportedly withholds gas supplies to drive up European prices

bne IntelliNews June 25, 2021

Gazprom is intentionally withholding gas supplies to drive up prices in Europe, according to the FT. But not everyone agrees.

Demand for fur coats doubles as Russia swelters in the hottest June for 120 years

bne IntelliNews June 25, 2021

As Russians suffer the hottest June in over a century, the leading e-commerce site Wildberries reports that the sale of fur coats has doubled year on year.

Russian industrial production for May up 11.8% y/y

bne IntelliNews June 24, 2021

Russian industrial production for May advanced 11.8% from 7.6% in April, which was also revised up from the previous result of 7.2%, RosStat said on June 24.

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