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New law to achieve unprecedented control over Russian citizens’ communications

February 28, 2017

Russia, which gave asylum to Edward Snowden after he exposed a vast U.S. surveillance program, is seeking unprecedented controls over its citizens’ communications. The lower house of parliament in Moscow gave preliminary approval to a bill that would require providers to store recordings of mobile-phone conversations and Internet activity for as long as three years. Since …

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Russian billionaire Oleg Boyko buys into German online lending startup

February 16, 2016

Russian billionaire Oleg Boyko’s private-equity company bought a stake in Germany’s Spotcap as the online lender backed by Rocket Internet SE secured its biggest financing to date. Spotcap raised 31.5 million euros ($34 million) from Boyko’s Finstar Financial Group and existing investor Holtzbrinck Ventures, Chief Executive Officer Toby Triebel said by phone. Spotcap lends to small and medium-sized …

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Facing China slowdown, Alibaba and JD find solace in Russia

February 12, 2016

Russia’s plunging currency hasn’t weaned consumers off foreign goods. Instead, cash-strapped shoppers are turning to online retailers for imported smartphones, jewelry and clothes, giving an unexpected boost to Chinese e-commerce giants Alibaba Group Holding Ltd. and JD.com Inc. Alibaba’s AliExpress site posted a 40 percent increase in Russian visitors to 22 million in July compared with a year earlier, according to …

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Putin faces growing exodus as Russia’s banking, tech pros flee

February 14, 2016

For most of the last decade, Igor Gladkoborodov worked his way up in Moscow’s vibrant high-tech scene, going from web developer to co-founder of an online-video startup that drew $3.5 million in local funding. Last month, he abandoned Moscow for Menlo Park, California, joining a growing flow of professionals leaving Russia amid recession, deepening international isolation …

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Yandex and CTC Media sink to record as Goldman says sell

January 21, 2015

Yandex NV (YNDX) sank to a record in New York after Goldman Sachs Group Inc. cut the stock to sell, forecasting a 31 percent drop in the Russian Internet company’s earnings this year as a weaker ruble dissuades advertisers from increasing spending. The shares slumped 8.7 percent in New York to $16.41, the lowest since the company’s U.S. …

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Russian brain drain saps talent as sanctions hit financing

October 27, 2014

Artem Kulizhnikov, founder of a startup designed to help musicians annotate music, is packing his bags to leave Moscow in December. His destination: Dubai or Singapore, where he sees a better chance of securing funding for his second company. “Russian venture-capital funds want to invest their money only in Russia, but we want to build an international business and …

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FBI examining whether Russia is tied to JPMorgan hacking

August 28, 2014

Russian hackers attacked the U.S. financial system in mid-August, infiltrating and stealing data from JPMorgan Chase & Co. (JPM) and at least one other bank, an incident the FBI is investigating as a possible retaliation for government-sponsored sanctions, according to two people familiar with the probe. The attack resulted in the loss of gigabytes of sensitive data, …

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How Russian hackers stole the Nasdaq

July 18, 2014

In October 2010, a Federal Bureau of Investigation system monitoring U.S. Internet traffic picked up an alert. The signal was coming from Nasdaq (NDAQ). It looked like malware had snuck into the company’s central servers. There were indications that the intruder was not a kid somewhere, but the intelligence agency of another country. More troubling still: When …

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How Putin crashed a Russian Internet stock

April 25, 2014

With a few ill-chosen remarks, Russian President Vladimir Putin has crashed the share price of his country’s largest Internet company, the Google-beating search engine company Yandex. At the time of this writing, Yandex NV, the Dutch-registered parent company of Russia’s search giant, was 16 percent down on Nasdaq. All Russian shares were doing badly because …

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Billionaire Usmanov aims at China after Apple, Facebook sale

March 18, 2014

Billionaire Alisher Usmanov sold shares in Apple Inc. and Facebook Inc., focusing on technology investments in China such as Alibaba Group Holding Ltd. and may expand stakes in Russian assets, an executive said. “Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign Internet investments,” Ivan Streshinskiy, head of …

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