InoBat Auto raises €10mn from CEZ for EV battery facility

bne IntelIiNews July 2, 2020

Funding will be used for InoBat Auto’s €100mn EV battery R&D facility and production line as it prepares to become the first European supplier of customised EV batteries.

Austria’s S&T buys Slovenian telecoms equipment company Iskratel

bne IntelliNews July 1, 2020

S&T says Iskratel's work in the IIoT software and 5G areas will strengthen its product portfolio.

Payment platform Paysera enters Kosovan market

bne IntelliNews June 30, 2020

Paysera Kosovo obtains the country's first Electronic Money Institution (EMI) licence, plans to cut cost of money transfers between Kosovo and EU countries.

Shoppers in Belarus get access to New Zealand's coronavirus tracking app

bne IntelliNews June 25, 2020

As businesses re-open their doors across Belarus, they have help from a contact-tracing app based on New Zealand’s successful coronavirus (COVID-19) Tracer app, Kontakkt Space, it was announced in a press release on June 24.

Romanian online retailer eMAG begins expansion in Hungary

bne IntelliNews June 25, 2020

Romania's largest online retailer plans to open three more showrooms in Hungary and reach a turnover of €300mn in the country.

Czech computer games companies posted 20% increase in sales in 2019

bne IntelliNews June 24, 2020

The gaming industry in the Czech Republic employs more than 1,750 people, and dwarfs the country's film and television sector.

Telegram to create proxies to work in Iran

bne IntelIiNews June 22, 2020

Encrypted messaging app is hindered in Islamic Republic by official attempts to block it. Co-founder Pavel Durov says he refused to share user data with intelligence services.

Slovak investment fund Sandberg Capital bought stake in Czechia's fastest-growing cloud service company

bne IntelliNews June 21, 2020

Sandberg's investment manager Jakub Krajcovic says he believes the business area has "huge potential" and the fund plans to focus on it more deeply.

Romanian unicorn UiPath expects $10bn valuation in new financing round

bne IntelliNews June 19, 2020

Enterprise robotic process automation software company is reportedly preparing a new round of financing that would increase its market value to over $10bn.

Russia's IT industry faces severe brain drain

Vladimir Kozlov in Moscow June 17, 2020

The Russian IT industry will experience a severe brain drain in the wake of the coronavirus (COVID-19) pandemic and ensuing economic crisis, unless the government introduces support measures for the sector, major local IT companies warn.

Russia to dramatically hike fines for data theft

Vladimir Kozlov in Moscow June 17, 2020

Hackers are preying on Russians' personal data and the number of crimes has ballooned. The government is responding with a dramatic hike to the fines for stealing information, but some experts say the proposed measures are too harsh

Russian deputies introduce a bill to un-ban the Telegram messaging service

bne IntelliNews June 16, 2020

Russian Duma deputies from the minority fraction Fair Russia have conceded defeat to reality and have introduced a bill to un-ban the popular messaging service Telegram that belongs to Russian tech whizz-kid Pavel Durov.

EIB loans Belgian tech corp Umicore €125mn for battery components factory in Poland

bne IntelliNews June 16, 2020

Poland has long been an important location for various automotive industries because of its still relatively cheap yet skilled labour as well as capacity for efficient logistics to markets such as Germany.

Russian watchdog blocks major deal between Russian Yandex.Taxi and Vezet

Vadim Dumesh in Paris June 12, 2020

Russia's Federal Antimonopoly Service (FAS) blocked the acquisition of Vezet taxi operator by Yandex.Taxi, the joint venture of Yandex internet major and Uber Technologies. Previously Yandex.Taxi put the deal on hold amid the coronavirus epidemic

Is Libya the new Syria?

bne IntelIiNews June 11, 2020

In brazen move, Russia flies squads of fighter jets to desert airfields after Moscow-allied rebel commander is pushed back by Turkish-backed forces in civil war. US now worried Kremlin might shape the conflict.

The head of the Russian Venture Company state-owned fund-of-funds under arrest in Moscow

EWDN in Moscow June 8, 2020

Late last week the head of Russian Venture Company (RVC), Alexander Povalko, was arrested then placed by a Moscow court under house arrest for 45 days. The FSB (Federal Security Service) and police officers ransacked his home.

Hungary moves to online invoicing to combat shadow economy

Tamas Szilagyi in Budapest June 7, 2020

Measures to reduce the size of the shadow economy have produced significant benefits already. The value-added tax gap is estimated to have decreased from 21% in 2013 to around 9% in 2018.

EIB loans €70m to Estonia’s Eesti Energa to improve broadband internet access

bne IntelliNews June 7, 2020

The loan will finance upgrading the quality of internet access in areas with insufficient broadband connectivity and limited broadband services.

Cybersecurity software firm Avast becomes first Czech company to join London Stock Exchange’s FTSE 100 Index

bne IntelliNews June 5, 2020

Avast enters FTSE 100 just two years after listing on LSE as coronavirus pandemic’s devastation of travel industry causes cruise giant Carnival and budget airline Easyjet to drop out.

Russia's Sberbank eyes 30% in Ozon e-commerce major

bne IntelliNews June 5, 2020

Russia's largest state-controlled bank Sberbank eyes 30% stake in e-commerce major Ozon controlled by multi-industry investment conglomerate AFK Sistema, Reuters reported on June 4 citing unnamed sources close to the deal.