The head of Russia’s top technology firm Yandex quit late Tuesday after being slapped with EU sanctions in response to Moscow’s invasion of Ukraine. Brussels hit Yandex executive director and deputy CEO Tigran Khudaverdyan with an asset freeze and travel ban earlier in the day, citing the firm’s role in “hiding information” from the Russian …
Yandex top executive quits after surprise EU sanctions Read More
In a meeting with EU foreign ministers, Ukraine’s top diplomat Dmytro Kuleba joined the chorus of voices calling for Russia to be disconnected from SWIFT — the financial messaging network that underpins the global banking system. The proposal — long popular among those who favor slapping hard-hitting sanctions on Russia — has picked up new …
Should Russian banks be scared of SWIFT disconnection? Read More
The proposed megamerger between Russia’s leading technology company Yandex and fast-growing challenger bank Tinkoff has been scrapped. In an announcement to the London Stock Exchange — where Tinkoff’s holding company TCS is listed — the bank said negotiations between the two sides had been “terminated, effective immediately.” Yandex and Tinkoff previously announced they had reached an “agreement …
Tinkoff scraps $5.5 billion deal with Yandex, shares plunge Read More
Yandex and Sberbank’s fight to gain control of Russia’s finance and technology industries is being billed as the corporate showdown of the decade. “Sberbank versus Yandex: The battle of the super platforms has begun,” declared Russian business daily Vedomosti last week. Novaya Gazeta went further, dubbing it a “war of the ecosystems.” The clash — which has …
Sber vs. Yandex: The battle of Russia’s super platforms begins Read More
Sberbank, Russia’s state-controlled financial behemoth, is showcasing what it calls the biggest transformation in its history, as it unveils a suite of new technology products in an aggressive drive to get deeper into the tech sector. In a flashy presentation Thursday morning — echoing Apple’s famous annual product launches which attract millions of viewers and …
Sberbank unveils sweeping transformation into tech company Read More
President Vladimir Putin’s plans for digital businesses to help power Russia’s economic recovery from the coronavirus pandemic by giving Russia one of the lowest tax rates in the world for IT companies might not be what they seem, analysts told The Moscow Times. In an address to the nation in June, Putin hailed the Russian IT sector’s …
Russia’s ‘IT tax maneuver’ could bring cash to the budget, not to IT companies Read More
