As the Russian government called retailers to keep their prices stable in spite of spiking demand for certain goods, Ozon – a top online retailer and marketplace – announced Friday that it was capping the prices of essential goods to protect customers’ interests. Even though Russia had only 367 confirmed COVID-19 cases as of March …
Ozon caps prices for the most sought-after goods to prevent gouging Read More
As the Russian video streaming service segment is booming. The major players are securing funding and launching original content production. Last month, Russia’s largest video streaming platform, ivi.ru, said it is considering an IPO on Nasdaq by the end of this year with JP Morgan Chase underwriting the floatation, bne IntelliNews reported in February. Back in 2018, ivi.ru CEO …
The US Department of Justice indicted Russian national Yevgeniy Nikulin in several major cybercriminal offenses, such as stealing personal identities, usernames and credit card information of customers from Formspring, LinkedIn and Dropbox. Nikita Kislitsin, an employee of a cybersecurity firm with offices in Moscow and Singapore Group-IB is an alleged co-conspirator in the Formspring 2012 …
Russia’s largest e-commerce retailer Wildberries intends to sell the produce of self-employed individuals on its platform, Kommersant daily reported on March 2. The products would include artisanal apparel, footwear, accessories, and souvenirs. However, quality control issues could complicate the adoption of such new sellers on the platform, analysts surveyed by the daily believe. Kommersant notes AliExpress is using the …
Russian e-commerce leader Wildberries to sell products of self-employed individuals Read More
Leading Russian consumer lender TCS Group, which operates Russia’s only pure online bank Tinkoff, will invest in the fintech project launched in Europe by two of its managers. As reported by bne IntelliNews, the capitalisation of TCS topped $5 billion in London this week. The bank’s investment case is seen as solid, as it has transformed from credit card …
Russia’s TCS Group ventures into fintech in Europe Read More
Subsidiaries of Russian state technology agency Rostec will start jointly developing equipment for 5G networks, Vedomosti daily reported on February 3 citing representatives of the agency and unnamed industry sources. As reported by bne IntelliNews, the Kremlin chose unpopular frequencies for 5G rollout to drive home-made infrastructure development and could enforce the use of domestically produced servers only. Reportedly GlobalInformService (GIS) …
Sistema_VC, the venture capital arm of Russian multi-industry investment conglomerate AFK Sistema, will invest $10 million in UK startup SenSat, Vedomosti daily reported last week. Founded in 2015, this geospatial technology startup “turns complex visual and spatial data into a real-time simulated reality that helps computers solve real world problems.” This AI-powered technology “allows companies operating in …
Russia’s largest bank Sberbank and Trafigura Group Pte. Ltd of Singapore made a pilot blockchain transaction as part of a West Siberian oil sales deal during Russia’s Eastern Economic Forum on September 5, Sberbank said in a press release. Sberbank purchased from Trafigura its accounts receivable of a major Turkish trader. Sberbank and Trafigura agreed on the …
Russia’s Sberbank and Singapore’s Trafigura secure oil sales transaction via blockchain Read More
The long-term horizon predictability for foreign investors in Russia took a big hit earlier this year with the arrest of US citizen Michael Calvey, the fund manager and founder of Baring Vostok Capital Partners (BVCP). One of the most established Russian private equity firms, Baring Vostok invested in some of Russia’s best tech companies. The Calvey …
Leading Russian consumer lender TCS Group that operates Russia’s only pure online bank Tinkoff Bank has launched B2B speech recognition services, Kommersant daily reported on July 22 citing representatives of the company. TCS will allow third parties to develop their own voice recognition applications such as voice assistants and robots for call centres using the Tinkoff VoiceKit. Tinkoff Bank’s …
Although Russia’s total share of the global cloud storage market is still under 1%, the sector is undergoing a boom as foreign companies hire local service providers to store Russians’ data, a recent study by iKS-Consulting revealed. Adopted in 2014, Russia’s personal data law requires companies operating in Russia to store Russian users’ or clients’ …
New regulations boost Russia’s cloud service businesses Read More
Fintech is exploding in Russia, albeit from a very low base. bne IntelliNews editor-in-chief Ben Aris sat down with Campbell Bethwaite, the managing partner of Redstone Capital (recently renamed from Finteca) to talk about the sector and its prospects. Redstone is a holding company that has set up a number of fintech businesses in Russia that are seeing exponential …
