The sector's net profit in August amounted to RUB244bn with a return on capital of 26% in annual terms. The profits were 7% more than the July result of RUB229bn.
The inflation of Russian consumer prices has soared to uncomfortable highs, but those of producer prices have grown even faster, although the pace of growth has slowed somewhat in the last two months.
One of Russia’s leading privately owned insurance companies, Renaissance Insurance Group, has announced that it will IPO on Moscow Exchange (MOEX), the company said on September 27.
Russia has been accused of cutting gas supplies to Europe to force the EU to certify its new Nord Stream 2 pipeline, but most of the record-breaking prices can be explained by steep V-shaped market forces and ageing fields and pipelines.
MTS AI, the artificial intelligence arm of Russian telco MTS, is launching an international acceleration programme and venture fund to invest in AI startups across the world.
Russia’s retailed equity boom is gathering momentum and it is, like elsewhere, increasingly being driven by social media, according to a survey carried out by VTB Capital called “To the moon: Scoring social stock sentiment."
The deputy chairman and former CFO of Russia’s second-largest gas producer Novatek, Florida businessman Mark Gyetvay, has been arrested in the US on tax charges relating to $93mn that was hidden in offshore accounts.
In the push for reducing carbon, significant investment will be necessary, and in turn, funding will be required. This will provide growth for the credit market, and in particular for anything associated with ESG.
Russia’s biggest petrochemicals company Sibur has closed a deal to take over 100% of its Tatarstan-based rival TAIF in an equity swap that will leave the shareholders of TAIF with 15% of the merged company and bonds.
The Russian physicist and election statistics expert Sergey Shpilkin has released another two charts on voting patterns in the recent Duma elections that show a “comet effect” and a “Moscow blob”.
The EU’s Green Deal and Carbon Border Adjustment Mechanism will hit the EU’s trading partners in Africa and non-EU Eastern Europe particularly hard.
Softline, an international solution and service provider with Russian roots, is pursuing its international expansion with two deals announced this month.
The US Treasury Department has for the first time sanctioned cryptocurrency exchange, a Russian-based Suex that is registered in the Moscow City business compound and operates physical as well as virtual exchanges.
Defining a green investment is crucial to boosting the expansion of renewable energy and preventing the mis-selling of investments by so-called greenwashing, whereby the environmental impact of a product is misrepresented.
There was little change to the Watcom Shopping index that measures foot traffic in Moscow’s biggest malls in real time.
The Communist Party of the Russian Federation massively improved its standing following the elections for a new Duma, but was robbed of the much larger share it actually won. The question now is what – if anything – can the KPRF do?
The Russian government intends to develop a system of support measures, including fiscal ones, to facilitate the introduction of green technologies and emission reductions for businesses, announces First Deputy Prime Minister Andrey Belousov.
Famous Russian physicist and election statistician Sergei Shpilkin studied the voting patterns in last weekend's Duma election and concluded some 14mn votes, roughly half of all the votes, were faked by the authorities.
On August 9 last year Belarus erupted into mass protests within hours of the polls closing on the massively falsified presidential elections. Russia just had similarly rigged elections but there has been no reaction by the population.
As the final results from the weekend’s Duma election come in, the ruling United Russia Party has delivered several surprise results and retaken its constitutional majority with 49.65% of the vote, with 90% of the votes counted.