Top Russian e-scooter service aims to raise $167 million on Moscow Exchange

September 19, 2022

Russian kicksharing service Whoosh intends to go public on the Moscow Exchange this or next year, unnamed sources told Forbes Russia and Reuters last week. Under plans, the e-scooter company could raise 10 billion roubles ($167 million at the current exchange rate) at a valuation of around 40 billion roubles ($666 million), Reuters learned.  A Whoosh spokesperson told Reuters: “Like …

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Yandex tests taxi hailing service in Dubai

September 21, 2022

Yango, the international division of Yandex operating taxi, kicksharing and delivery services, has launched its taxi hailing service in test mode in the United Arab Emirates, reports Interfax. “Yandex is developing world-class technologies and services and is constantly experimenting with them on international markets. Testing of taxis in Dubai on a pilot basis is no …

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Russian microelectronics lags behind the world by 15 years

September 13, 2022

Lagging behind the world in the development of microelectronics for 15 years, Russia critically depends on foreign technologies in the design and production of relevant products, the authorities concede as the sanctions have made further development even more challenging.  The main issues of Russia’s microelectronics industry are listed in a draft policy document about industry development …

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Russian minister promises iPhone 14 imports

September 8, 2022

Russian consumers will be able to buy the newly unveiled iPhone 14 in Russia despite Apple’s exit from the market over the invasion of Ukraine, a government minister said Thursday.  “If consumers want to buy these phones, you’re welcome. They will have that chance,” Industry and Trade Minister Denis Manturov told state-run RIA Novosti news agency. Apple …

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From Yandex to RT: Russia expands presence in Serbia amid Ukraine war

September 13, 2022

The lavishly decorated main entrance of Serbia’s baroque-style parliament building was barely visible behind a sea of protest tents and a makeshift stage adorned with billboards. One of them featured the face of Russian Foreign Minister Sergei Lavrov alongside the caption “the world’s greatest diplomat.” “We are the same people,” one of the protesters, a smiling …

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Russian researchers design novel material to advance storage battery tech

September 8, 2022

Researchers at the Center for Energy Science and Technology, which is a department of Skoltech University in Moscow, have offered a simple and scalable method of increasing the capacity of a wide range of cathode materials to be used in metal-ion storage batteries.  Research results may find their way into a possible new generation of …

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Huawei moves Russian staff to Central Asia

September 8, 2022

Chinese tech giant Huawei has moved some of its staff from Russia to Central Asia over fears of Western sanctions, the Vedomosti business daily reported Monday, citing sources close to the company. Huawei began relocating Chinese and Russian managers and heads of divisions to Kazakhstan and Uzbekistan after the Russian invasion of Ukraine, according to Vedomosti. Some …

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China’s UnionPay cuts off Russian banks over sanctions

September 8, 2022

China’s UnionPay paymentsystem has stopped accepting cards issued by Russian banks under Western sanctions over fears of penalties, the RBC news website reported Friday, citing financial industry sources. Demand for UnionPay cards in Russia surged following Visa and Mastercard’s exit in the wake of the invasion of Ukraine.  A number of major Russian banks subsequently announced plans …

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Nationalising Russia’s Internet

September 8, 2022

Since the sanctions came down on Russia there has been a bonanza of M&A activity as those companies and oligarchs that have been included in the lists have had to dump their subsidiaries to protect them from being targeted. Often this means that individuals find themselves on a list, but their company is excluded as it …

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Russia fines Twitch over Ukraine presidential adviser video

September 8, 2022

Russia fined U.S. streaming platform Twitch on Tuesday for the second time this month over its refusal to remove an interview with an adviser to Ukrainian President Volodymyr Zelensky, state media reported. A Moscow court said Twitch should pay 3 million rubles ($49,500) for the video with Oleksyi Arestovich, according to the TASS news agency. The …

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Ericsson to exit Russia, cut staff

September 8, 2022

Swedish telecom equipment maker Ericsson will finalize its Russia exit and cut staff this year, signaling further problems for Russian network coverage upkeep, the Kommersant business dailyreported Monday. Ericsson’s headquarters in Stockholm had informed its Russian unit last week that it will shut down and employees will be fired by the end of 2022, Kommersant reported, …

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Ozon keeps 2022 80% turnover growth forecast, but losses increased in H1

September 8, 2022

One of Russia’s big three e-commerce company says it is sticking with its forecast for turnover growth of 80% this year, despite the sanctions and economic slowdown, Tass reported on August 23. E-commerce sites have benefited from the war as consumers have gone online to find goods that have disappeared from the stores after some …

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