Russian e-commerce continued fast growth in H1 2019, Wildberries stronger than ever

EWDN in Moscow September 17, 2019

Russian e-commerce kept growing fast in the first half of this year, reaching 725bn rubles (slightly more than $11bn), up 26% from H1 2018. And market leader Wildberries is growing even faster than the rest of the sector

Russia, Belarus reportedly ink 'economic confederacy’ roadmap

bne IntelliNews September 17, 2019

Russia and its neighbouring post-Soviet republic Belarus have inked a roadmap with the aim to form "an economic confederacy" by 2022, the Kommersant business daily reported on September 16.

Russia's industrial output up by 2.9% in August

bne IntelliNews September 17, 2019

Industrial output in Russia increased by 2.9% year-on-year in August 2019, inching up versus 2.8% y/y growth in July, and posting total 2.6% y/y growth in 8M19 overall.

Tehran Blog: Who bombed Saudi Aramco’s sites?

bne staff in Tehran September 17, 2019

The missile attack on Saudi Arabia’s Aramco facility in the east of the country on September 15 has become ensnared in a whodunit of confusion and speculation as accusations fly over who was really behind the rocket attack.

NEWSBASE: The attacks on Saudi oil infrastructure are the oil industry's 9/11

bne IntelliNews September 16, 2019

The attacks on Saudi oil infrastructure could turn out to be the oil industry’s 9/11. Reacting to the news, JP Morgan said: “Clearly oil assets have been massively mispriced. The assumption that production facilities are secure is wrong."

Drone attacks on Saudi oil facilities not set to impact oil flows to Europe in big way

Ben Aris in Berlin September 16, 2019

Europe takes little oil from Middle East. It is heavily dependent on Russia for crude deliveries and can turn to Moscow to fill any gaps. The effect on the oil price, however, is a different matter.

Zelenskiy looking for a breakthrough to end the Donbas conflict with Russia

Ben Aris in Kyiv September 16, 2019

Zelenskiy hopes to secure the withdrawal of Russian forces from the Donbas in the east of the country, where more than 13,000 Ukrainian servicemen have been killed in the conflict in the last five years.

Russian digital major Yandex launches an investment portal with VTB Bank

bne IntelliNews September 16, 2019

Yandex has announced that it is getting into bed with the state’s second biggest bank VTB bank to create a fintech service to sell equities and funds to retail investors.

Russia's net public debt falls to zero

Ben Aris in Berlin September 10, 2019

Russian President Vladimir Putin has a bee in his bonnet about debt. He paid off Russia's debts early and encouraged the government to build up its reserves. Now the state can cover all of its debts with cash.

Sberbank and Trafigura of Singapore make pilot blockchain transaction securing West Siberian oil sales

bne IntelliNews September 10, 2019

Pilot blockchain transaction during Russia’s Eastern Economic Forum is an early foray into a technology that is popular with Russians.

The Mitteleuropean view: Putin’s Belarusian ace stays in the hole?

Gunter Deuber of Raiffeisen Research in Vienna, Marcus How of Vienneast in Vienna September 10, 2019

Negotiations between Belarus and Russia on deeper economic integration are nearing completion, and the potential for surprises – such as a political or currency union – is expected to diminish.

France calls for reset in relations with Russia

Ben Aris in Berlin September 10, 2019

It’s official: France is actively working for a reset in relations with Russia. “The time has come, the time is right, to work towards reducing the distrust between Russia and Europe," Jean-Yves Le Drian, the French foreign minister says

Where is Russia’s stock market headed this year?

Ben Aris in Berlin September 8, 2019

Russia’s stock market rallied in the second quarter of this year, up some 30% since January, and broke through the 1,400 level briefly in June for the first time since the annexation of the Crimea in 2014. What happens next?

Ukraine and Russia swap 70 prisoners of war

Ben Aris in Berlin September 7, 2019

Among those released in the first concrete move towards ending the conflict between the two countries were Ukrainian film director Oleg Sentsov and the 24 sailors captured by Russia during a naval clash in the Kerch Strait in November.

Russia's car and LCV sales declined again in August by 1.3%

bne IntelliNews September 7, 2019

Russia's car and LCV sales declined 1.3% y/y to 145,545 units in August, so 8mo19 sales fell 2.3% to 1.1mn, according to the latest data by the Association of European Businesses (AEB).

Ozon battling it out for e-commerce supremacy

Ben Aris in Moscow September 6, 2019

Russia’s old economy is stagnating, but the new one of e-commerce is growing in double digits and is still accelerating. All the conditions for e-commerce to take off are now in place, CEO of Ozon Alexander Shulgin tells bne IntelliNews.

CEE monthly bond market wrap: issues halt as summer doldrums hit

Ben Aris in Berlin September 5, 2019

Bond markets are always slow in the summer, but with Russia and Turkey, two of the biggest markets in the region, in turmoil over the summer, there were almost no bond issues at all this year.

Russia's CBR is expected to cut key rate to 7% on September 6

bne IntelliNews September 5, 2019

The board of the Central Bank of Russia (CBR) is expected to cut the key interest rate for the third time in a row at its upcoming policy meeting on September 6.

Russia’s services PMI bounced back in August from just treading water in July

Ben Aris in Berlin September 4, 2019

Upturn in the services PMI lifted Russia's composite index result, but while the positive results are welcome, the poor performance of manufacturing highlights the weakness of Russia’s growth this year.