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MegaFon joins race to space Internet

MegaFon, a major Russian mobile phone operator, is investing in a project that will provide data access to on-the-ground users from low-Earth orbit satellites. The operator plans to invest 6 billion rubles (some $75 million at the current exchange rate ) over the next two years into research of the new technology. A dedicated R&D …

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Sber completes full acquisition of online media and entertainment group Rambler

Sber, Russia’s state-controlled financial and technology giant (previously known as Sberbank), has brought its stake in Rambler to 100%, buying the 45% stake of billionaire Alexander Mamut.  These shares will be paid for in tranches, stated Sber. The first one, worth 3 billion rubles (nearly $38 million at the current exchange rate) will be settled immediately, while …

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Baring Vostok civil case settled for $32 million — but Michael Calvey still under house arrest in fragile health

US businessman Michael Calvey and his fund Baring Vostok have reached a deal with former Russian partners in a corporate dispute over their joint investment Vostochny Bank. “The shareholders of Vostochny Bank have settled their corporate dispute” and “signed an agreement to the benefit of the Bank, its clients, depositors and creditors,” the two sides said in …

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Yandex releases first-ever transparency report on government requests for user data

For the first time ever, the Internet services giant Yandex has released statistics on the number of requests for user information it has received from Russian government agencies. In the first half of 2020, branches of the government sent the company more than 15,000 requests and Yandex fulfilled 84 percent of them. According to Russian …

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Sber teams up with pharma major to acquire leading online pharmacy

Sber, the state-controlled financial and tech giant – previously known as Sberbank, – and Russian pharma major R-Pharm, are teaming up to acquire the online pharmacy Eapteka. According to the agreement, each partner will get a 45% stake with 10% being retained by company founder Anton Buzdalin. The amount and details of the transaction, which is still subject …

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Russian home cinema startup secures $5 million factoring loan to pursue international development

Russian home cinema startup Multibutik — also known as Cinemood — has secured a $5 million loan from factoring company GameBoost42.  Now headquartered in San Francisco, this startup is one of Russia’s most hyped international startup success stories. It has developed mini cinema projectors for children, including a cloud-connected one that can project content onto any surface.  Cinemood …

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Moscow city plans to use mobile technology to manage and monitor human traffic flows

In its efforts to manage and monitor the flow of human beings through the city, Moscow officials have experimented with mobile apps, QR codes, and telephone hotlines. Many of these systems have confused the elderly, overwhelmed operators, and frustrated virtually everyone. According to a new public contract reported in the Russian news media, the capital …

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Moscow city authorities mandate night partygoers to register with QR codes or SMS

Moscow partygoers will be required to register their phone numbers before they can enter bars, nightclubs and other late-night establishments, Mayor Sergei Sobyanin announced Thursday as the city sees a renewed rise in coronavirus cases.  Starting Oct. 19, all visitors of establishments operating between midnight and 6 a.m. will be required to scan a QR code or …

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Baring Vostok and Goldman Sachs acquire stake in major Russian financial and insurance portal

Russian billionaire Oleg Tinkov has sold his stake Sravni.ru, a major Russian finance and insurance marketplace, to Baring Vostok and Goldman Sachs, reports VC.RU. The terms of the transaction were not disclosed. Sravni.ru defines its mission as “to help people make the right choices and achieve financial goals.” Its users are assisted in choosing financial …

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North Korean hacker group attacked Russian aerospace and defense targets

The North Korean hacker group “Kimsuky” is reportedly carrying out attacks against military and industrial entities inside Russia, cybersecurity experts told the newspaper Kommersant.  Earlier this year in the spring, Kimsuky hackers sent malicious emails seeking confidential information at aerospace and defense companies in Russia, says Anastasia Tikhonova, the head of the information security company “Group-IB.” …

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Sber and Visa launch data lab with AI supercomputer

Sber, the Russian state-controlled financial and tech giant, is teaming up with Visa to launch “Russia’s first Data Lab.” The partners intend to “use anonymized data to track changes in customer behavior and design the most customized offerings for all users of card products by applying artificial intelligence and machine learning tools.”  “The move is aimed at …

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Tinkoff scraps $5.5 billion deal with Yandex, shares plunge

The proposed megamerger between Russia’s leading technology company Yandex and fast-growing challenger bank Tinkoff has been scrapped. In an announcement to the London Stock Exchange — where Tinkoff’s holding company TCS is listed — the bank said negotiations between the two sides had been “terminated, effective immediately.” Yandex and Tinkoff previously announced they had reached an “agreement …

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