Tech

Unicorn start-up Uzum is digitising Uzbekistan

Ben Aris in Berlin March 28, 2024

In Uzbekistan a bold digital revolution is transforming society. Spearheading this transformation is Uzum, an e-commerce start-up which recently raised $52mn in funding, making it Uzbekistan’s first tech unicorn valued at over $1bn pre-money.

Bulgaria’s Paynetics acquires Bulgarian-UK neobank Novus

bne IntelliNews March 28, 2024

Novus users can monitor their carbon footprint and earn cashback for sustainable purchasing choices through its app.

BRICS announce a blockchain-based payment system to create a common currency

bne IntelliNews March 28, 2024

For a long time the BRICS countries have been trying to move away from the dollar, but creating a common currency has not been possible, due to the dominance of China's economy within the group.

Chinese investor buys licence for Slovakia’s flying car project

bne IntelliNews March 27, 2024

Licence fee to fund production plans in Slovakia for sports car that transforms into light aircraft at the click of a button.

Uzum crowned Uzbekistan’s first tech unicorn

bne IntelliNews March 27, 2024

E-commerce and fintech startup raises $114mn on valuation of $1.16bn.

Uzbekistan sets $5bn IT export goal by 2030

Ben Aris in Berlin March 24, 2024

Uzbekistan hopes to become the Central Asian IT hub and boost IT service exports to $5bn by 2030, according to a report by the World Bank Uzbekistan released on March 19.

VK stuck between rising debts and growing revenues

Ben Aris in Berlin March 22, 2024

Russia’s answer to Facebook is on a roll as the online market has been rocked to its core by sanctions. But its debt is growing even faster as the company goes on a wild shopping spree to consolidate its position as top dog in Russia's RuNet.

Uzbekistan’s IT outsourcing sector takes off

Ben Aris in Tashkent March 13, 2024

Uzbekistan is hoping to establish itself as a major IT outsourcing centre, able to compete with the likes of India, Belarus, Ukraine and Romania, and has already seen its export revenue grow exponentially in the last four years.

Tirana-based Dev.al acquires Rubicon to enter financial services market

bne IntelliNews March 10, 2024

Tirana-based software development company Dev.al took over Rubicon, best known for its popular instant payment app Pago.al.

NBU prepares the way for a digital currency with a second round of market place tests

bne IntelliNews March 8, 2024

The National Bank of Ukraine has unveiled plans for a second phase of e-hryvnia testing slated for later this year, as the regulator prepares the ground to launch its own digital currency, the NBU said in a statement on March 7.

US sanctions Intellexa consortium entities in Hungary and North Macedonia for spyware development

bne IntelliNews March 6, 2024

OFAC says companies in Hungary and North Macedonia sanctioned for developing Intellexa's Predator spyware.

BMW and Romanian partner NTT Data establish IT joint venture in Cluj-Napoca

bne IntelliNews March 6, 2024

BMW says partnership will establish new hub and tackle problem of IT expert shortage.

SpaceX launch of nano satellites marks Mongolia’s entry into global space industry

bne IntelliNews March 5, 2024

PM says he wants to see emergence of a “vibrant domestic space industry”.

Romania refuses to license Huawei equipment for 5G applications

bne IntelliNews March 1, 2024

Telcos in Romania can only use technology from companies approved by the government in their 5G networks.

OKX announces launch of crypto exchange in Turkey

bne IntelliNews February 27, 2024

Figures have shown Turks’ ownership of digital currencies at the highest level in the world.

Yandex N.V. to reinvent itself after leaving Russia

Vladimir Kozlov in Cyprus February 27, 2024

In early February, Yandex NV (YNV) - the Dutch parent company of Russia's online giant Yandex, often referred to as the "Russian Google"- announced its long expected exit from Russia. Now YNV hopes to reinvent itself, focusing on four core businesses

GapMinder sets up €80mn VC fund with EU, EBRD among investors

bne IntelliNews February 23, 2024

Fund to target Romania and the region with focus on fintech, cybersecurity, enterprise automation and data/analytics.

Bulgarian competition body allows UAE’s Etisalat by e& to buy PPF telecom assets

bne IntelliNews February 19, 2024

CPC allows Middle Eastern investor to acquire indirect control of mobile operator Yettel Bulgaria and telecoms infrastructure provider Cetin Bulgaria from Czech PPF Group.

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