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Articles with tag "business"

News Analysis

How Customer Discounts Ignited a Battle Between Russia’s Banks and E-Commerce Giants

Russia’s top e-commerce platforms offer discounts to customers who use the platforms’ in-house banks. Traditional lenders are now crying foul.

Russians Pour Record Funds Into Domestic Securities as Rates Fall

Net contributions to brokerage accounts reached 872 billion rubles between July and September, up 83% from a year earlier.
3 Min read

VTB Plans Small-Scale Staff Cuts to Improve Efficiency

“This is about optimization aimed at increasing efficiency, primarily in these areas,” first deputy CEO and CFO Dmitry Pyanov said.
1 Min read

Russian Industry Sentiment Falls to Late-1990s Lows – Report

November’s reading marks the weakest point since April 2020, when nationwide lockdowns froze much of the economy.
2 Min read

Russian Corporate Losses Surge in 2025 as More Firms Slip Into the Red

About 18,400 firms posted losses, or 11% more than the same period of 2024.
2 Min read

Russia’s AvtoVAZ Expects Lada Output to Drop 40% in 2025 – Reports

The company’s shipped output is projected at 464.5 billion rubles ($5.92 billion) for 2025, down 27.7% from last year.
2 Min read

Apple Cracks Down on India’s Re-Exports of iPhones to Russia – Reports

Although Apple halted official sales in Russia, new models continue to reach the Russian market through parallel imports and private suppliers.
1 Min read

Ozon Denies Central Bank’s Claim That Marketplace Discounts Distort Competition

Central Bank Governor Elvira Nabiullina reportedly proposed banning online marketplaces from offering discounts to customers who pay for goods using their...
2 Min read

Sberbank Using AI to Cut 20% of Staff by End of 2025, Gref Says

German Gref said the bank’s heavy spending on AI left little room for other investments.
1 Min read

Russian Firms Plan Price Increases Ahead of Tax Changes – Central Bank Survey

Businesses plan to lift prices by an annualized 6.3% over the next three months, up from 4.2% in October and 2.9% in September.
2 Min read

Moscow Court Arrests Ex-Skolkovo Technopark Head on Bribery Mediation Charges

Renat Batyrov faces up to 12 years in prison if convicted.
1 Min read

Russian Companies Face Record Debt Burden as High Rates Squeeze Profits – Think Tank

“The burden from interest payments on corporate income is at an extremely high level,” the Kremlin-linked think tank CMASF said.
3 Min read

Gazprom Takes Control of Luxury Carmaker Aurus After Buying 51% Stake

The new investor is reportedly expected to commit additional funds to develop the brand, whose limousines are used by Putin and senior officials.
2 Min read

Chevron Weighs Purchase of Lukoil’s Overseas Assets After U.S. Eases Restrictions – Reuters

Chevron is assessing the purchase of Lukoil assets that overlap with its own interests, Reuters’ sources said.
2 Min read

Russian Warehouse Market Sees Sharp Decline as Economy Slows

Companies have shifted from expansion to consolidating existing space due to slower economic growth and high borrowing costs.
2 Min read

Russia’s Rusal to Shutter Major Silicon Plant as Industry Cuts Deepen

The cutback adds to a growing list of Russian industrial firms reducing hours, output or staffing as economic pressures mount.
2 Min read

Russian Seaborne Oil Exports Drop to 3-Month Low Amid New U.S. Sanctions

Analysts say the slump in exports reflects a temporary dislocation in supply chains rather than a collapse in demand.
2 Min read

Wildberries Targets First African Market With Ethiopian Expansion

The cooperation agreement with Ethiopia’s largest state-owned investment firm signals the Russian e-commerce giant’s push into Africa.
1 Min read

Finance Ministry to Debut Borrowing in Chinese Yuan in December

The ministry said it would offer two series of OFZ bonds, each worth 10,000 yuan ($1,400), with maturities ranging from three to seven years and interest...
2 Min read

Russia’s Richest Woman Settles Divorce 1 Year After Deadly Office Confrontation

The specific terms of Thursday’s settlement have not been made public, but Kim said the terms were “acceptable to both sides.”
1 Min read
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