Russia

FPRI BMB Russia: Sberbank releases a three-year transformation strategy to e-commerce concern

FPRI BMB Russia December 2, 2020

Sberbank released its latest three-year strategy on December 1, and despite the bank’s rebranding to Sber, it has a ways to go to become a bona fide tech company.

Ozon shares jump 40% in first minutes of trading after IPO on NASDAQ

East West Digital News in Moscow December 2, 2020

Shares in Russian online retail giant Ozon surged by more than 40% on November 23 in the first minutes of trading after the most eagerly anticipated Russian initial public offering (IPO) in years.

Online video service ivi.ru starts NASDAQ IPO registration procedure

East West Digital News in Moscow December 2, 2020

Just days after the triumphant NASDAQ IPO of Ozon, a leading Russian e-commerce company, another Russian digital major, ivi.ru, has started the registration procedure for a US IPO, reports East-West Digital News (EWDN).

Leading Russian edtech startup Skyeng backed by Winter Capital, Baring Vostok

East West Digital News in Moscow December 2, 2020

Skyeng, one of the most successful Russian startups, has received funding from two major investment firms, Winter Capital and Baring Vostok.

Mail.ru Group and Google launch international accelerator for video game developers

East West Digital News in Moscow December 2, 2020

Google and My.Games, a branch of Mail.ru Group, last week announced a joint accelerator program “for promising mobile game studios and projects.”

Now fully owned by Sber, Yandex.Checkout rebrands to ‘YooMoney’

East West Digital News in Moscow December 2, 2020

Yandex.Checkout, a leading Russian payment service provider, is going to run its international operations – essentially in cross-border B2C payment operations – under a new brand, ‘YooMoney.’

Fencing club memberships surge following success of Russia’s answer to the Queen’s Gambit mini-series success

Ben Aris in Berlin December 2, 2020

Following the phenomenal success of “The Queen’s Gambit,” Netflix’s fictional drama about a female chess prodigy, Russia has released its own version of the genre – except “On the edge” is about female fencing stars

Anton Mironenkov, Head of X5 Technologies: “In this pandemic, digital transformation is proving essential”

East West Digital News in Moscow December 2, 2020

The head of Technologies at Russia's leading supermarket chain X5 Anton Mironenkov is spearheading the digital transformation of the company. He runs through the challenges in an interview with East West Digital News

Sber displays its leadership ambitions in the Russian e-commerce space

East West Digital News in Moscow December 2, 2020

Sber, Russia’s state-controlled financial and tech giant (previously known as Sberbank), is displaying its ambitions in the field of e-commerce, in spite of several previous unsuccessful attempts

Brighter days ahead: The economic bounce back in 2021

Ben Aris in Berlin December 2, 2020

2020 has been one of the worst years in living memory. Worse than 2008. But the global economy should bounce back in 2021 as the pandemic fades thanks to the new vaccines

Will Biden impose new sanctions on Russia?

Ben Aris in Berlin December 2, 2020

How 2021 turns out for Russia heavily depends on what, if any, new sanctions US President Joe Biden imposes on the country

Will there be a Russian relief rally in 2021?

bne IntelliNews December 2, 2020

Will there be a relief rally in 2021? There should be. In the year after Russia’s previous crashes there has usually been a big bounce-back

Russia’s Santa rally will get a corona boost this year and maybe more

Ben Aris in Berlin December 2, 2020

The Russian equity market usually enjoys a rally between September and Xmas known as the “Santa rally.” But as investors anticipate the end of the global coronavirus pandemic this year the rally will get a boost and may run longer than normal

Climate change damage will cost Russia $99bn, warns deputy minister of the Far East and Arctic

Ben Aris in Berlin December 1, 2020

Climate change will cost Russia RUB9 trillion ($99bn) due to direct damage to buildings and infrastructure, says Deputy Minister of the Far East and Arctic Aleksandr Krutikov.

Russia's November PMI drops to six-month low

bne IntelliNews December 1, 2020

The headline seasonally adjusted IHS Markit Russia Manufacturing PMI dropped to a six-month low of 46.3, down from 46.9 in October.

Russian shoe retailer Obuv rebrands, moves to non-fashion

bne IntelliNews December 1, 2020

Dubbed the "Magnit of shoes" the regional focused Russian shoe shop chain Obuv Rossii is rebranding and expanding its product range as sales start to recover following this year's lockdowns

Russian corporate profit growth stalls in September, falls to lowest level in four years

bne IntelliNews November 30, 2020

Russian cumulative corporate profits slumped in September as the economic recovery stalled. Profits are less than half what they were this time last year on a cumulative basis and a third what they were in September a year ago.

Russian retail investors piling into the stock market for the first time, but CBR worried about rising risks

Ben Aris in Berlin November 30, 2020

Russian retail investors are finally investing in stocks as they look for better returns following the steady fall of interest rates at banks in recent years. But the CBR is worried that risks for the financial sector are rising as a result.

Lukashenko says he may quit as president

Ben Aris in Berlin November 29, 2020

Belarusian President Alexander Lukashenko said he would step down after a new constitution is adopted, state media reported. "I am not going to be the president once the new constitution is in place," he said.

Analysts cheer Russia's X5 retailer's e-grocery IPO plans

Vadim Dumes in Paris November 27, 2020

The analysts met with enthusiasm plans by Russia's largest food retailer X5 Retail Group to IPO its e-grocery and express delivery assets in the medium term.

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