VK, previously known as Mail.ru Group, owner of Russian social network VKontakte, reported a second-quarter net loss of 3.4 billion roubles ($56 million). The loss is partly due to a 14 billion rouble ($231 million) foreign exchange hit. The VKontakte network, often compared to Facebook, has emerged as a key player in the race to …
Russian digital giant VK hit by second quarter loss Read More
US telecoms equipment maker Cisco will end operations in Russia and Belarus in response to the war in Ukraine, the company told Reuters on Thursday. The company had initially suspended its operations in Russia, including sales and services, in March after the Kremlin ordered troops into neighboring Ukraine. Hundreds of foreign businesses have exited Russia …
Cisco announces wind-down of operations in Russia, Belarus Read More
A Moscow court on Thursday said it had fined Alphabet’s Google 15 million roubles ($260,000) for repeatedly failing to comply with a Russian law requiring technology companies to localise user data. Russia has issued multiple fines to foreign technology companies in recent years over a range of infringements, in what critics say is Moscow’s attempt …
Russian court fines Google $260,000 for breaching data rules Read More
Russian e-commerce major Ozon plans to reach operational break-even in the next 12 months, the company’s finance chief Igor Gerasimov said on Tuesday. “We’ve started to improve the economy – you can see that in the first quarter of this year (…) In the next 12 months, we intend to reach operational break-even,” he said at the forum of entrepreneurs …
The Biden administration ramped up a national security probe into Russia’s AO Kaspersky Lab antivirus software earlier this year amid heightened fears of Russian cyberattacks after Moscow invaded Ukraine, three people familiar with the matter told Reuters. The case was referred to the Commerce Department by the Department of Justice last year, a fourth person …
Ukraine war spurs US to ramp up Kaspersky security probe Read More
Global investors are scooping up stakes in cryptocurrency funds and companies, as they seek exposure to a sector many believe could withstand the fallout from the Russia-Ukraine conflict. Research firm Fundstrat, in its latest note to clients, said venture capital (VC) buyers invested around $4 billion in the crypto space in the last three weeks …
Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates Read More
Financial services firms including those in the cryptoasset sector were warned by Britain’s regulatory bodies on Friday that they were expected to ensure sanctions imposed against entities and individuals in Russia and Belarus were complied with. “We are working closely with partners in government and law enforcement both here and abroad, including regulatory authorities, to …
Cryptoasset sector told by UK regulators to comply with Russian sanctions Read More
Russia’s Nasdaq-listed e-commerce player Ozon on Friday said that holders of its bond maturing in 2026 may be entitled to redeem the principal and interest accrued if trading remains halted until March 8, but has the cash in its accounts to pay. Trading of Ozon’s shares on Nasdaq was suspended on Feb. 28 and if suspension …
Russia’s Ozon, following Yandex, warns of bond payment issue Read More
Apple Inc. said on Tuesday it has paused all product sales in Russia in response to the Russian invasion of Ukraine. “We are deeply concerned about the Russian invasion of Ukraine and stand with all of the people who are suffering as a result of the violence,” Apple said in a statement. “We are supporting …
Russia’s invasion of Ukraine by land, air and sea risks reverberating across the global chip industry and exacerbating current supply-chain constraints. Ukraine is a major producer of neon gas critical for lasers used in chipmaking and supplies more than 90% of U.S. semiconductor-grade neon, according to estimates from research firm Techcet. About 35% of palladium, a …
Ukraine war could exacerbate global chip supply crisis Read More
Russian internet giant Yandex on Tuesday reported a sharp drop in adjusted annual net profit, but said total revenue could surge this year to around $6.5 billion, driven in part by high turnover growth in e-commerce. Yandex’s core advertising business, which accounted for 47% of total revenue in the fourth quarter of 2021, suffered during the …
Yandex eyes $6.5 billion revenue in 2022, sharp e-commerce growth Read More
Russia has dismantled ransomware crime group REvil at the request of the United States in an operation in which it detained and charged the group’s members, the FSB domestic intelligence service said on Friday. The United States welcomed the arrests, according to a senior admininstration official, adding “we understand that one of the individuals who was arrested today was …
Russia takes down REvil hacking group at US request — FSB Read More
