New OCCRP Pandora Papers leak reveals more details of secret financial networks of New Europe’s elite

Ben Aris in Berlin October 4, 2021

A new leak of millions of documents dubbed the Pandora Papers has revealed more details of the use of offshore companies by the elite of New Europe, detailing their ownership of hundreds of millions of dollars of assets.

bneGREEN: SEB puts $4 trillion annual price tag on net zero

By Richard Lockhart in Edinburgh October 1, 2021

SEB’s latest Green Bonds Report has placed a price of $4 trillion per year on the energy transition if the world is to reach net zero by 2050.

Prices of oil rises sharply, but ruble largely unaffected

bne IntelliNews October 1, 2021

Soaring oil prices touched $80 per barrel last week and are up 20% in the last month and 50% since the start of the year, but they have had very little effect on the ruble.

Russia’s manufacturing PMI renews expansion in output as demand conditions stabilise

bne IntelliNews October 1, 2021

Russia’s headline seasonally adjusted IHS Markit Russia Manufacturing PMI improved to 49.8 in September, up from 46.5 in August, signalling only a fractional deterioration in the health of the Russian manufacturing sector.

Kremlin responds to opposing troops building up on Tajikistan-Afghanistan border

bne IntelIiNews October 1, 2021

It meanwhile emerges that US is in talks on using Central Asian bases for over-the-horizon counter-terrorism operations in Taliban-controlled nation.

Russian IT major Softline to hold IPO, use cash for M&As

bne IntelliNews October 1, 2021

The international digital transformation and cybersecurity solution and service provider has announced that it plans to list on the London Stock Exchange.

Russians believe it is a bad time to save, but the share with savings remains unchanged

bne IntelliNews October 1, 2021

Since the start of this year the number of Russians that believe it is a bad time to increase savings has grown, according to a recent survey by independent pollster the Levada Center.

Approval ratings of Putin and the Russian government remain largely stable in September

bne IntelliNews October 1, 2021

In September Russian President Vladimir Putin's personal approval rating remained in the same band as it has in recent years, improving slightly from 61% to 64%, according to independent pollster the Levada Center.

Russian corporate profits soar in July to $38.6bn

bne IntelliNews October 1, 2021

The profits of Russian corporate profits soared in July, the last month of available data, rising to RUB2,767bn ($38.6bn), more than twice as much as the RUB1,061bn that companies earned in the same month a year earlier.

Taliban and Tajikistan engage in sabre-rattling

Eurasianet October 1, 2021

Dushanbe has irked the Taliban by offering a haven to its foes.

Erdogan says Turkey looking at fighter jet, submarine and more nuclear cooperation with Russia

bne IntelIiNews September 30, 2021

Turkish president may be trying to force Washington to cut his regime some slack. Biden ambassador nominee for Ankara has said he will push Turkey to “live up to its status as a Nato ally”.

Russia's Mercury Retail bets on ultra-convenience format to win food shoppers, boost growth

Ben Aris in Berlin September 30, 2021

Mercury Retail Group, the owner of Russia's Red & White and Bristol food chains, is focusing on its ultra-convenience store format as it continues expansion of what is already Russia's third-largest store-network by sales.

Kazakhstan to abandon domestic eGov platform for Russian service

Zholdas Orisbayev for Eurasianet September 29, 2021

Local IT experts say the plan ignores their talents and risks handing sensitive data to Russia.

bneGREEN: Hydro capacity needs to double to meet green goals

By Richard Lockhart in Edinburgh September 29, 2021

Global hydro capacity needs to double by 2050 if water-based power is to make a meaningful contribution in the race to net zero, IRENA director-general Francesco La Camera has warned

Moscow sets the pace in global car-sharing race

Stephen Bierman of NEO September 29, 2021

Car-sharing businesses worldwide will likely be looking to Moscow in the coming years for tips, as the Russian capital has built up the largest fleet globally amid increasing global competition.

FPRI BMB Russia: Oil prices over $80, Russia accused of playing politics to get long-term deals

FPRI BMB Russia September 29, 2021

The price of gas in Europe has increased dramatically in recent weeks, influenced by surging demands and insufficient production. The price of North Sea Brent crude approached the level of $80 per barrel for the first time in three years.

Russia’s Ministry of Economic Development ups GDP growth forecast for 2021 to 4.2%

FPRI BMB Russia September 29, 2021

In preparation for the 2022-24 Russian federal budget, the Ministry of Economic Development has released new predictions for macroeconomic indicators from 2021-24, BMB Russia reports.

Russian banks extend profits in August, on track to earn a record RUB2.5 trillion this year

bne IntelliNews September 28, 2021

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.

Russia’s PPI inflation up 1.5% to 28.6% in August

bne IntelliNews September 27, 2021

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.

Russia's Renaissance Insurance hopes to raise $290mn with IPO

Ben Aris in Berlin September 27, 2021

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.