East-West Digital News

Decarbonization: Russian scientists bet on AI while government sets meagre country goals

February 11, 2022 February 17, 2022

Sber, Russia’s state-controlled financial and digital giant (previously known as Sberbank), and the Skolkovo Institute of Science and Technology (Skoltech), intend to develop software program to “evaluate the carbon balance drawing on remote sensing of the Earth.” The program aims to “facilitate the comprehensive analysis [which is] required [to make] effective decarbonization decisions and design …

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Softline acquires Indian provider to strengthen global cloud service offering

February 8, 2022 February 16, 2022

Softline, a Russian-founded IT solution and service provider listed on the London and Moscow stock exchanges, is to acquire Umbrella Infocare, an Indian cloud service company. This provider offers “rich and very advanced services expertise” in Amazon Web Services (AWS) and Citrix solutions. Its team of more than 200 people has served some 250 customers across various industries, completing …

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Russian retail major Lenta completes acquisition of e-grocery pioneer Utkonos

February 7, 2022 February 11, 2022

On Feb. 1 Lenta, a major Russian retail group listed in both Moscow and London, announced it completed the acquisition of online-retailer Utkonos from Severgroup. Lenta will finance the 20 billion-ruble ($246 million) transaction by an additional issuance of its shares, which will be placed by closed subscription to Severgroup. As reported previously, preemptive rights may be exercised …

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Global digital giants must go local: Apple opens representative office in Russia

February 7, 2022 February 7, 2022

Apple has opened a representative office in Russia, the Russian Internet and Telecom regulator said Friday, becoming the first company to comply with new regulations requiring foreign technology firms to localize their operations in the country. Some 13 foreign technology companies are required to open local offices and fulfill a string of other technical requirements, like …

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Russian e-commerce keeps growing fast: market leaders doubled sales in 2021

February 4, 2022 February 7, 2022

Earlier this week several top Russian e-commerce companies announced impressive results for 2021, even though brick-and-mortar retail fully reopened in the country. Market leader Wildberries, Nasdaq-listed Ozon, and international platform AliExpress Russia significantly overperformed the market, which grew by at least 40% according to preliminary estimates (InfoLine). Wildberries: +93% Wildberries announced the turnover of its marketplace …

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Booking.com to pay 1.3 billion ruble fine over abuse of dominant position

February 3, 2022 February 8, 2022

On Monday, Jan. 31, a Moscow court rejected Booking.com’s appeal against a 1.3 billion ruble fine ($17 million at the current exchange rate) in relation with alleged violation of the antimonopoly legislation. While expressing its “disappointment” with the ruling, Booking.com said it intends to pay the fine. The company does not rule out “further legal …

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How Russian customers of Western IT equipment prepare for potential sanctions

February 3, 2022 February 8, 2022

As Western powers could restrict supplies of IT equipment and support as part of potential sanctions against Russia, Sber is preparing for all scenarios. Last week, as reported by Kommersant, the state-controlled financial giant conducted technical exercises simulating the interruption of technical support from Microsoft, Nvidia, SAP, VMware and other companies. In a bid to gain more …

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New approaches to smart city and smart region discussed at Moscow forum (March 3)

February 2, 2022 February 4, 2022

On March 3, 2022, Moscow will host the nation-wide business forum “Smart City & Region: Digital Technologies on the way to Smart Country.” The event will be held offline, with the possibility of participating in online broadcast. This event aims to establish an open and trusting dialogue between government authorities and business; assess the situation and forecast its development; formulate specific proposals that can be used …

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The Eastern European paradox: How a troubled region generates unicorns and decacorns

February 1, 2022 February 3, 2022

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia, Ukraine, and Belarus, with a column by EWDN Chief Editor Adrien Henni that highlights the most notable industry facts and trends across the region. “With Russia and Belarus digging themselves into domestic authoritarianism and international confrontation, a looming …

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Nexters acquires gaming studios, Rostelecom eyes cloud gaming company

January 31, 2022 February 7, 2022

Last week Nexters — a Russian-founded gaming company which went public on the Nasdaq last summer by merging with a SPAC — announced a series of acquisition and investment deals. With a total upfront investment of around $100 million, Nexters will take control of three game studios: RJ Games (Russia), a puzzle RPG major and the publisher of Puzzle Breakers; Royal Ark (Russia), …

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Russian startup bets on AI to sell vitamins online and expand globally

January 28, 2022 January 28, 2022

Just eight months after launch, a startup called Vitobox — which offers personalized combinations of vitamins and nutritional supplements — has raised 107 million rubles ($1.4 million) at a $14 million valuation. The funding will go, in particular, to international expansion: the startup plans to launch pilot projects later this year in Kazakhstan, the UAE, …

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Finance vs. tanks: Why SWIFT might be the weapon Russia fears most

January 27, 2022 February 3, 2022

Some are calling it the “nuclear option.” As Western governments threaten Russia with a package of unprecedented sanctions aimed at deterring President Vladimir Putin from ordering an invasion of Ukraine, there’s one measure in particular that appears to strike fear at the heart of the Kremlin: cutting the country off from the global banking system. US lawmakers have suggested …

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