Tinkoff enters e-commerce race as competition intensifies

Theo Normanton in Moscow October 21, 2021

Russian online bank Tinkoff has launched an e-commerce venture. The new platform, a constellation of services and tools designed to help entrepreneurs. To manage it the bank has hired Ilya Kretov, formerly eBay’s CEO for Global Emerging Markets.

Slowing Russian imports suggest the bounce back momentum is faltering already

Theo Normanton in Moscow October 21, 2021

In the first half of 2021, the Russian economy was firing on all cylinders. Commodity prices were rising, employment was remarkably high, and real wages were growing. Now it's slowing and some worry the economy is losing what little momentum it had.

Russia at the Dubai Expo 2020

bne IntelliNews October 21, 2021

The Russian and Ukrainian pavilions at the Dubai Expo 2020 opened on October 1 to showcase the two countries to the rest of the world.

Russian metallurgical company Metalloinvest to build the world’s largest HBI iron plant

bne IntelliNews October 21, 2021

Leading Russian metallurgical company Metalloinvest signed off on a deal with a consortium of companies to build the world’s biggest hot briquetted iron plant, the preferred form of iron from which high quality steel can be produced.

Balkan Stream countries hope to avoid worst of international gas crisis

Clare Nuttall in Zagreb October 21, 2021

While the debate rages over the Nord Stream 2 pipeline, a separate pipeline system carrying Russian gas to Southeast Europe has been quietly opened over the last few years, which enables the countries on its route to avoid the worst of the gas crisis

wiiw hikes 2021 CEE growth forecast to 5.4%

Robert Anderson in Prague October 21, 2021

Growth is predicted to fall to 3.7% in 2022 and 3.5% in 2023 because of base effects, monetary tightening and more significant external headwinds.

Russia orders non-working week from October 30 to curb surging coronavirus infections

bne IntelliNews October 21, 2021

The number of coronavirus (COVID-19) cases in Russia has hit a record high of more than 34,000 new cases per day and the country’s death toll has surpassed 1,000 per day. The government has given the population a week off to stem the spread.

Homegrown vendors gain on multinationals in Russian retail boom

bne IntelIiNews October 20, 2021

Financial results from the first half of 2021 show that Russian retailers are chipping away at the market share of international rivals within the Russian Federation. This comes as a domestic and global retail boom is shaking up the sector.

Russia’s coronavirus spike threatens the whole region

bne IntelliNews October 20, 2021

Vaccine scepticism means just under a third of the Russian population is vaccinated and the government admitted last week that it had “lost the information campaign” to persuade its people to take the pandemic seriously.

COMMENT: Disinfo Napalm

Leonid Ragozin in Latvia October 20, 2021

It’s one thing encountering fakes and disinformation online, it’s quite another when someone fabricates a fake that strives to destroy your own life and career. This is what has just happened to me – a journalist with 20-year experience.

ING: Growing metals demand & the issue of emissions

Warren Patterson Head of Commodities Strategy at ING in Holland October 19, 2021

The energy transition provides a great opportunity for the metals industry. Investment in clean energy technologies will boost metals demand. However, while the sector will play a crucial role, it will need to address its own emissions.

Russian petrochemical giant Sibur launches net-zero collaboration platform

Stephen Bierman in Moscow October 19, 2021

Sibur will establish a Low Carbon Emitting Technologies pact with leading international chemical companies and the World Economic Forum to help coordinate climate change responses.

MACRO ADVISORY: Sanctions and oil fear force stability first in Russia

Chris Weafer of Macro-Advisory in Moscow October 19, 2021

Several years ago, a young deputy minister started his description about the Russian economy by saying: "The good news about the economy is that it is stable.” After a brief pause, he added: "The bad news about the economy is that it is stable."

Ukraine’s Naftogaz asks to take part in decision to certify Nord Stream 2 gas pipeline

bne IntelliNews October 19, 2021

Naftogaz says Nord Stream 2 cannot be certified because it does not fully comply with European legislation.

Russia breaks off diplomatic ties with Nato

bne IntelliNews October 19, 2021

Russia broke off diplomatic ties with Nato on October 18, expelling Nato’s diplomats at a liaison and communication office in Moscow and also ordering its representatives at Nato's HQ home by the end of the month.

Nord Stream 2's first string declared ready to pump gas

bne IntelliNews October 19, 2021

Russia has finished filling the first string of the Nord Stream 2 with natural gas, meaning that the pipeline is now technically ready to operate.

Perspectives | Russia’s (not so free) trade agenda

Aruzhan Meirkhanova for Eurasianet October 19, 2021

Recurring import bans by the Russian agricultural watchdog attest to a problem with Moscow’s idea of free trade.

bneGREEN: Green policies set to reduce EU gas demand to baseload core

By Richard Lockhart in Edinburgh October 18, 2021

While the current gas crisis in the EU sees record-high wholesale gas prices, hurting consumers and causing the latest round of a supply disputes with Russia, the race to net zero by 2050 could have deeper long-term consequences for EU gas demand.

Kudrin pours cold water over the Kremlin’s budget optimism, says 3% growth unobtainable

Ben Aris in Berlin October 18, 2021

Former Finance Minister and Audit Chamber head Alexei Kudrin poured cold water over the government’s new budget, saying in a report the assumptions are overly optimistic and the forecast 3% growth for this year is “nowhere to be seen.”

Russian car-sharing major Delimobil files for listing in New York

East West Digital News in Moscow October 17, 2021

Delimobil Holding SA, a Luxembourg-registered, Moscow-based car-sharing company, filed for listing on the New York Stock Exchange on October 8.