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New East Tech Awards highlight 11 promising startups from Russia, Estonia, Ukraine

January 21, 2022

On Dec. 22 New East Tech Awards highlighted 11 startups from Eastern Europe operating in a variety of fields. One of the winners is based in Kyiv, Ukraine, three are from Estonia while the others are located in Russia or founded by Russians.  The awarded companies received investment proposals from The Untitled, one of the …

New East Tech Awards highlight 11 promising startups from Russia, Estonia, Ukraine Read More

Russian edtech on the rise: Educate Online and Synchronization attract millions from top VCs, corps and BAs

December 29, 2021

The Russian online education platform Synchronization, launched by in 2015, has raised $2.25 million, reports business daily Kommersant. The round was led by investment holding Avenir and Rusagro co-owner Maxim Basov. The deal also involved Adfirst VC as well as individual investors Stas Korostelev, Mikhail Tsyferov, Anton Volkov and others. The platform offers courses in …

Russian edtech on the rise: Educate Online and Synchronization attract millions from top VCs, corps and BAs Read More

US could cut off Russia’s smartphone, car imports over Ukraine invasion

December 24, 2021

The United States could hamstring Russia’s smartphone and automobile imports if Moscow invades Ukraine, Reuters reported Tuesday, citing an unnamed Biden administration official. The “unprecedented” U.S. export control measures are expected to be discussed at a White House meeting Tuesday. Washington will also reportedly closely coordinate its steps with key European and Asian partners that could be …

US could cut off Russia’s smartphone, car imports over Ukraine invasion Read More

VK launches information security system overhaul and user data protection program update

December 22, 2021

VK is launching a new program designed to protect users and their data – VK Protect. The program will bring together all technical solutions that provide protection within the VK ecosystem, and will also assist users in managing their privacy and using tools to protect their information. “We are working on a comprehensive system to improve …

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Russian retail major Lenta to buy e-grocery pioneer Utkonos as local market could reach $13 billion by 2025

February 7, 2022

Last week Lenta announced an agreement to acquire online-retailer Utkonos from Severgroup. The parties expect to complete the transaction in February 2022.  A major Russian retail group listed in both Moscow and London, Lenta aims to “create a leading e-grocery platform covering all key shopping missions and market segments.” Lenta will also “significantly expand its online …

Russian retail major Lenta to buy e-grocery pioneer Utkonos as local market could reach $13 billion by 2025 Read More

Russian e-commerce leader Wildberries makes first steps on UK market

December 21, 2021

Wildberries, the number one Russian e-commerce company, has launched sales on the UK market, its “19th country of presence.” UK customers can find on the site no less than 5.5 million goods from 164,000 international brands — from apparel and footwear, to beauty goods, toys, electronics and books — says Wildberries, cited by the TASS …

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Nasdaq-listed Cian.ru bans racial discrimination in rental ads

December 21, 2021

Earlier this month — just weeks after it began trading on the Nasdaq — Russian online real estate service Cian.ru announced “changes in publication rules” and started deleting ads offering rentals “for Slavs only.” According to this new policy, “advertising text must not contain direct or indirect discrimination, nor incitement to discrimination based on race or ethnicity (including indicators such as …

Nasdaq-listed Cian.ru bans racial discrimination in rental ads Read More

3 awards in 2 weeks: Sber’s AI teams and products gain international recognition

December 19, 2021

Sber’s excellence in certain technology segments, including artificial intelligence, was highlighted several times earlier this month through a variety of international and domestic awards.  In the yearly ranking “World’s Best Trade Finance Providers” of international magazine Global Finance, the Russian financial and digital giant appeared as number one in the category “Best Use of Artificial …

3 awards in 2 weeks: Sber’s AI teams and products gain international recognition Read More

Preparing to Western sanctions, Belarusian banks sign up to Russia’s alternative to SWIFT

December 20, 2021

Belarusian banks are preparing for tougher Western sanctions by signing up to Russia’s alternative to SWIFT, the international financial messaging network that underpins the global banking system, Russia’s Moskovsky Komsomolets tabloid has reported. Russia’s System for Transfer of Financial Messages (SPFS) has more than 400 domestic users — practically every licensed Russian lender — but is …

Preparing to Western sanctions, Belarusian banks sign up to Russia’s alternative to SWIFT Read More

Russia threatens to block YouTube for taking down another German RT channel

December 19, 2021

Roskomnadzor, Russia’s telecom and Internet regulator, is threatening to restrict access to YouTube after the video platform shut down yet another German-language channel run by the Russian state-controlled television network RT (Russia Today). According to a Roskomnadzor press release published on Friday, December 17, the federal censor sent a letter to YouTube’s parent company, Google, demanding that …

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Russian central bank to seek ban on investment in cryptocurrencies

December 19, 2021

The Russian central bank wants to ban investments in cryptocurrencies in Russia, seeing risks to financial stability in the rising number of crypto transactions, two financial market sources close to the bank said. Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave …

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Former US citizen and Ulmart co-owner August Meyer arrested in St. Petersburg

December 16, 2021

August Meyer, co-owner of cosmetics chain Rive Gauche and former co-owner of now defunct online retail Ulmart — was arrested Wednesday last week in St. Petersburg. Meyer and his wife, Inna Meyer, are suspected of embezzling 2.4 billion rubles ($32.6 million at the current exchange rate) from state-owned bank Sberbank on the pretext of developing Ulmart shortly …

Former US citizen and Ulmart co-owner August Meyer arrested in St. Petersburg Read More

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