News

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

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 …

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

How Russian customers of Western IT equipment prepare for potential sanctions

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 …

How Russian customers of Western IT equipment prepare for potential sanctions Read More

Nexters acquires gaming studios, Rostelecom eyes cloud gaming company

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), …

Nexters acquires gaming studios, Rostelecom eyes cloud gaming company Read More

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

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, …

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

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

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 …

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

Russian banks begin testing digital ruble payments

January 27, 2022

While advocating a ban on crypto exchange, investment and mining in the country, Russia’s central bank has plans to launch its own digital currency. Having completed the prototype of the digital ruble platform in December, the monetary authority is now beginning to experiment with transactions. A dozen banks have been invited to join the first stage of …

Russian banks begin testing digital ruble payments Read More

Russia’s e-commerce leader Wildberries bought a bank to launch virtual debit card and instant refund

January 27, 2022

Wildberries has just launched its first financial product — a virtual debit card that allows its customers to make purchases on the marketplace with a 2% discount. The news was reported earlier this week by RB.RU, which cited  the company’s press service.  Only users with a Wildberries account can get the ‘WB Card,’ which is provided at …

Russia’s e-commerce leader Wildberries bought a bank to launch virtual debit card and instant refund Read More

Russian data center major IXcellerate attracts $190 million from Mubadala, RDIF and Sber

January 25, 2022

IXcellerate, one of the most established data center company in Russia, has raised approximately some $190 million. The round — the largest ever in this field in the country  — was led by sovereign wealth fund Mubadala (UAE) with participation from its Russian peer RDIF, SberInvest, and iXcellerate’s existing investors.  Cited by Sber, the state-owned financial and digital …

Russian data center major IXcellerate attracts $190 million from Mubadala, RDIF and Sber Read More

US administration considers technology sanctions if Russia invades Ukraine

February 3, 2022

In the months since Russia began massing troops on the border of Ukraine, the Biden administration has, on multiple occasions, warned that any further aggression by Moscow toward its neighbor would be met with unprecedented levels of sanctions. Now, the White House appears to be dropping some specific hints about what those sanctions might look …

US administration considers technology sanctions if Russia invades Ukraine Read More

From Moscow to Lille, France: This startup changes the way retailers fill product cards

May 16, 2022

While many internationally-oriented Russian startups move to Silicon Valley, or to such European alternatives as Berlin, London or Riga, Branquad made a different choice. This Russian digital commerce startup recently landed in Lille, a large, tech-friendly city in the North of France.  Not only does its case provide yet another example of an International Russian …

From Moscow to Lille, France: This startup changes the way retailers fill product cards Read More

Moscow court lifts US investor Michael Calvey’s restrictions on leaving home

January 25, 2022

The Meshchansky District Court of Moscow has lifted the house arrest restrictions on US citizen Michael Calvey, the founder of top private equity fund Baring Vostok,  three years after his arrest and months in jail.  The courts previously ruled that Calvey was forbidden to leave the house after 8pm, communicate with witnesses outside the framework …

Moscow court lifts US investor Michael Calvey’s restrictions on leaving home Read More

No exchange, no investment, no mining: Russia’s central bank proposes triple ban on crypto

January 27, 2022

Bank of Russia proposed today to ban cryptocurrency investment and mining as governments around the world crack down on the decentralized currencies, citing a variety of threats including monetary stability. At the moment, conducting transactions with cryptocurrencies is illegal in Russia, but investing and buying crypto through exchanges is permitted under a recent change. Russian citizens’ transactions using decentralized …

No exchange, no investment, no mining: Russia’s central bank proposes triple ban on crypto Read More

Scroll to Top

This site is under maintenance. Sorry for the inconvenience.

This site is under maintenance. Sorry for the inconvenience.