Russia's internet major launches own voice assistant

bne IntelliNews June 17, 2019

Russian internet major launched its voice assistant Marusya in test mode, Vedomosti daily reported citing unnamed sources.

RAEX Ratings named the Russian regions with the best governance quality

RAEX Ratings in Moscow June 17, 2019

Russia’s Tambov region has the best governance in Russia, according to a rating by RAEX Rating Review, the company said on June 17.

CEE monthly bond wrap: bond issues in CEE sharply down, Russia sharply up

Ben Aris in Berlin June 17, 2019

Bond issues in Central and Eastern Europe in May were down steeply on previous years to a total of $3.1bn from six issues, but they were up in Russia and the CIS to $1.1bn from four issues, albeit from a low base.

Chinese agro investment expands as COFCO eyes Russia's third largest grain terminal

bne IntelliNews June 17, 2019

The Sino-Russian ties are deepening as China ramps up its investment into Russian agriculture. Chinese COFCO trading corporation is eyeing a 25% stake in Russian KSK grain terminal in Novorossiysk

Russia's CBR head warns of spending NWF sovereign fund

bne IntelliNews June 17, 2019

The head of the Central Bank of Russia (CBR) Elvira Nabiullina warned the government against spending the National Welfare Fund (NWF), urging policy-makers to preserve the sovereign cushion at above 7% of GDP to hedge against possible external shocks

CBR cuts key rate by 25 bp to 7.5% per annum -- the first cut since March 2018

bne IntelliNews June 14, 2019

The Central Bank of Russia cut its key rate for the first time since March 2018, as the annual inflation slowdown continues.

Russia’s stock market puts in its best performance in a decade, gains 26% YTD

Ben Aris in Berlin June 14, 2019

Russia’s leading dollar denominated Russia Trading System (RTS) has surged by just over a quarter YTD as of June 14. Stocks are now trading at a levels above where they were when sanctions were imposed following the annexation of Crimea in 2014.

Russia's Fx/gold reserves tops $500bn for the first time in five years

bne IntelliNews June 14, 2019

The foreign currency and gold reserves of the Central Bank of Russia (CBR) amounted to $502.7bn as of end of the week of June 14, the data by the regulator shows.

Russia's current account surplus at $49bn, capital outflow doubles as of May

bne IntelliNews June 13, 2019

Russia's current account of the balance of payments posted a surplus of $48.7bn in January-May 2019, expanding by $1.8bn year-on-year, according to the preliminary data by the Central Bank of Russia (CBR)

Russia's Sberbank to acquire 25% in Muslim charity platform PayZakat

bne IntelliNews June 11, 2019

Russia's largest bank state-controlled Sberbank will acquire 25% of PayZakat platform that collects charity for Muslims in need

Quant funds keeping It simple and effective

Ben Aris in Berlin June 10, 2019

Yesterday’s quantitative investing has become today’s algorithmic trading, which has become more and more complicated. The best way to make these funds grow is to keep them simple

Russian investigative reporter Ivan Golunov arrested and charged with drug dealing

Ben Aris in Berlin June 9, 2019

Russian investigative reporter Ivan Golunov was arrested and charged with dealing drugs at the weekend in what his colleagues claim was retribution for his journalistic work that hurt business interests.

Growth of Russia's pirate content traffic declines again in 2018

bne IntelliNews June 9, 2019

Piracy is actively being rooted out in Russia, the second biggest consumer of digital pirated content in the world.

Major energy, tech and agro deals signed at Russian SPIEF 2019

bne IntelliNews June 9, 2019

Russia and China account for almost half of the 650 deals worth RUB3.1 trillion announced at SPIEF

US hands Turkey Russian missiles ultimatum

bne IntelliNews June 8, 2019

Crucially, however, its deadline falls one week after the Istanbul revote seen as another referendum on Erdogan and test of what remains of Turkish democracy.

The US has been isolated by Russia and China, says Russian President Putin at SPIEF

Ben Aris in Berlin June 7, 2019

“The US is isolated by Russia and China.” The leaders of both countries are actively building a new economic alliances with the other emerging markets — but the OPEC+ deal is in danger.

German DEG and Da Vinci Capital invest in DataArt

bne IntelliNews June 6, 2019

German development finance institution DEG announced in June it provided equity funding to DataArt, a leading global developer of complex IT solutions

Russian medical insurance startup attracts $3mn for international expansion

EWDN in Moscow June 6, 2019

Russian medical insurance startup attracts $3mn for international expansion

Russian car sales plunge 7% in May

bne IntelliNews June 6, 2019

Sales of new passenger cars and light commercial vehicles (LCVs) in Russia decreased by 6.7% in May 2019 to 0.138mn units, the latest report by AEB Automobile Manufacturers Committee (AEB AMC) shows. In January-May overall the market declined by 2.2%

Russia’s services PMI growth slows to a three-year low

bne IntelliNews June 5, 2019

The wind has gone out of Russia’s service sector that has been the one vibrant part of the real economy for the last few years, dragged down by stagnant real income growth and the miasma that is lying over the retail sector.