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THE SBER ECONOMY

Sberbank’s Big Plan to Become Russia’s Consumer Goliath Takes Shape

The state-owned lender will launch an online retail giant in 2021, as it aims to be the main player in almost every sphere of Russian life.

Russian Billionaires See $500Mln Windfall in 2020

Russia’s wealthiest billionaires had a November stock market rally to thank for their gains.

Russian Spending Down 40% on Black Friday

Retail outlook darkens, as online boost fails to compensate for in-store slump.

PLAYING THE MARKETS

Russia’s Private Investor Boom Spooks Regulators

Russia’s Central Bank, long cautious over the sharp rise in retail investors, now sees possible financial risks.

COCKTAIL OF FLAWS

Arctic Oil Spill: Nornickel Failures, Tank Flaws Caused Catastrophe – Report

A report commissioned by Nornickel said the metals giant failed to investigate warning signs or grasp the consequences of a possible disaster.

Facebook Pays Russia $50K Fine For Not Localizing User Data

The social network has refused to comply with Russia’s controversial requirements to store Russian users’ data on Russia-based servers.

Russia’s Rosneft Announces Start of Vast Arctic Oil Project

Russia's Arctic energy plans have been criticized by environmentalists.

Russia Should Extend Coronavirus Crisis Support – IMF

Its economy fared better than most but headwinds remain and recovery could be weak, the organization warned.

Ozon Shares Jump 40% on U.S. IPO

Firm valued at more than $7 billion after landmark IPO for Russian business.

Putin Signs Law Raising Income Tax for High Earners

Starting next year, the tax rate will rise from 13% to 15% on incomes over 5 million rubles.

Russia Preparing Golden Visa Scheme – Reports

Foreigners could get permanent residency in Russia with a $130,000 investment.

high-speed connection

Russia Starts Building $850M High-Speed Arctic Internet

The underwater fiber optic cable will stretch from Murmansk to Vladivostok.

CLEAR FOR LAUNCH

Ozon Sets Price for Blockbuster $5Bln Share Sale in Quest to Be Russia’s Amazon

Online retail giant gears up for most hotly anticipated Russian stock market launch in years.

opinion Elena Agarkova Belov

Russia Should Get Behind Arctic Ban on Dirty Fuel

Russia is watering down a block on heavy fuel oil — a toxic pollutant — in the Arctic. That could be a dangerous mistake.

Russia Records 3.6% GDP Fall in Third Quarter

Economic slowdown moderated over summer months, official statistics show, but second wave has put the economy back under pressure.

Russia Lifts House Arrest on Michael Calvey

Star investor, Baring Vostok founder freed from house arrest weeks after resolving civil claims.

Russia’s Ingushetia Region on Brink of Bankruptcy

The North Caucasus region is deep in the red. It could be the first domino to fall in a looming regional debt crisis.

Russian Health Food Startup Soars During Pandemic

A new appreciation for healthy living has helped former model Elena Shifrina’s BioFoodLab edge closer to a dream IPO.

Curfew Darkens Outlook for Moscow’s Night Spots

Amid weak support, some nightclubs are switching to day-time opening hours to keep business going.

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