Just weeks after warning of a bond payment issue, Russian e-commerce major Ozon is now ruling out any default risk. Cited by news agency RIA, the company’s business development director Anna Karpova said Ozon had “113 billion rubles on its accounts,” which is enough to “cover [its] obligations.” “We see loyalty on the part of [securities holders], … Russian e-commerce major Ozon rules out any default risk, but trading still... Read more ›
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Since the war in Ukraine began, triggering unprecedented international sanctions against Russia, some 50,000-70,000 Russian IT professionals left their country, reports the Russian Association of Electronic Communications (RAEC). This is only a first wave, says the association, which expects up to 100,000 additional IT workers to leave in April. “The only things holding back the … Russian IT brain drain accelerates dramatically as economic collapse threatens their industry Read More Read more ›
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After Twitter, Facebook and Instagram were banned, TikTok is the only remaining global social media platform still available in Russia. According to Datareportal, it attracted nearly 55 million users in Russia in February 2022; and its audience is likely to grow even more, should it avoid being banned too. What can Russians users see on … Report: How the war in Ukraine is affecting the content that TikTok users see... Read more ›
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When Russian forces attacked Ukraine last month, the U.S. and its allies imposed strict sanctions on doing business with the eastern power, cutting off more than half of Russia’s high-tech imports and restricting its access to technological inputs. As those sanctions have been added to on a seemingly daily basis, companies have been left to scramble to … Russian sanctions, soaring VC investment put spotlight on growing compliance tech industry... Read more ›
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In a strong symbol of the crash of Russia’s technology sector, Miro, a US-based decacorn created in Russia eleven years ago, announced last week it was closing its office and stopping sales in its native country. “We are devastated by the escalating war and human tragedy in Ukraine. We continue to call for a swift end … Miro, a US decacorn born in Russia, complies with sanctions, closes Russian office... Read more ›
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Yandex, the Russian online search giant — also running a variety of other digital services — is exploring different “strategic options, including disvestment, for its news aggregation service and infotainment platform Zen.” The company stated Friday it intended to “focus on developing its other technology-related businesses and products (including search, advertising, self-driving and cloud) and transactional services (including ride-hailing, e-commerce, … Caught between Russia’s censorship and West’s sanc Read more ›
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It’s been two days since Roskomnadzor blocked Instagram in Russia. The agency, which is in charge of telecommunications control and censorship, believes that the social network is filled with “calls to commit violent actions against Russian citizens and military personnel.” Russia’s Attorney General has called for Meta, Instagram’s parent company, to be blacklisted as an “extremist organization.” … “This destroys my five years of hard work:” How Instagram ban affects... Read more ›
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The Russian App Store has lost 6,982 mobile apps since the start of the Ukraine invasion, as numerous companies have now pulled their apps and games from Apple’s iPhone and iPad App Stores in the country, according to data shared with TechCrunch by app intelligence firm Sensor Tower. To date, those apps had been downloaded around … Russia’s App Store lost nearly 7,000 apps since its invasion of Ukraine, but... Read more ›
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Global investors are scooping up stakes in cryptocurrency funds and companies, as they seek exposure to a sector many believe could withstand the fallout from the Russia-Ukraine conflict. Research firm Fundstrat, in its latest note to clients, said venture capital (VC) buyers invested around $4 billion in the crypto space in the last three weeks … Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates Read More Read more ›
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Today the Russian authorities blocked access to Instagram in the country after they accused its parent company Meta of allowing hate speech against Russians, including the military, on its platforms. Instagram now appears on a list of “restricted” online resources published by the authorities. Earlier this month Roskomnadzor, the Internet and telecom regulator, already blocked access to … Instagram blocked in Russia, hitting crowds of individual entrepreneurs Read More Read more ›
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After Russian entrepreneurs asserted themselves last year as chief disruptors in the food delivery industry —  fulfilling orders in around 15 minutes in a variety of Western cities — some of them are now falling as collateral victims of Putin’s war on Ukraine. In early March Buyk — a fresh food delivery service with sizeable operations in New York and Chicago — abruptly laid … How two Russian-founded startups in... Read more ›
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Financial services firms including those in the cryptoasset sector were warned by Britain’s regulatory bodies on Friday that they were expected to ensure sanctions imposed against entities and individuals in Russia and Belarus were complied with. “We are working closely with partners in government and law enforcement both here and abroad, including regulatory authorities, to … Cryptoasset sector told by UK regulators to comply with Russian sanctions Read More Read more ›
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Meta’s properties — including Facebook, Instagram and Whatsapp — are likely to cease their activities completely in Russia as the US social media company is now facing a criminal investigation over calls for violence targeting the Russian invaders of Ukraine. “A criminal case has been initiated (…) in connection with illegal calls for murder and … Facebook, Instagram, Whatsapp face ban and criminal investigation in Russia after Meta relaxed rules... Read more ›
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Even as the authorities are taking unprecedented measures to silence opposition or even free expression about the events in Ukraine, an “international VC and startup petition against the bloodshed in Ukraine” started circulating yesterday in the Russian and Belarusian tech business community. Prominent tech investors from these countries, or connected with them, had signed the … Russian and Belarusian VCs launch international petition “against the bloodshed in Ukraine” Read More Read more ›
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Russia’s Nasdaq-listed e-commerce player Ozon on Friday said that holders of its bond maturing in 2026 may be entitled to redeem the principal and interest accrued if trading remains halted until March 8, but has the cash in its accounts to pay. Trading of Ozon’s shares on Nasdaq was suspended on Feb. 28 and if suspension … Russia’s Ozon, following Yandex, warns of bond payment issue Read More Read more ›
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In a hint of the strength of opposition among Russian professionals to war in Ukraine, an open letter that’s been circulating through the country’s IT industry since the invasion on Thursday — to protest at the act of military aggression and call for peace — has gathered around 30,000 signatories from named IT workers. The … Scores of IT workers in Russia sign public anti-war petition Read More Read more ›
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Apple Inc. said on Tuesday it has paused all product sales in Russia in response to the Russian invasion of Ukraine. “We are deeply concerned about the Russian invasion of Ukraine and stand with all of the people who are suffering as a result of the violence,” Apple said in a statement. “We are supporting … Apple halts all product sales in Russia Read More Read more ›
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As the Russian economy seems to be sinking as a result of the western sanctions, Alexey Solovyov, a figure of the Russian venture scene, has a nuanced analysis of the impact on his industry. From a deal cancelled to the disruption of an essential banking service, the crisis has already affected his firm and portfolio … Russian VC Alexey Solovyov: “In the globalized Russian venture community, the impact of the... Read more ›
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As Western powers began cutting off its access to the SWIFT interbank payment system, Russia could turn to cryptocurrency to bypass sanctions. This Monday Sergey Glazyev, a former Russian minister and advisor to President Putin, made this suggestion in an interview to Russian TV channel RBC. Cryptocurrencies can become an alternative for settlements with Western countries, allowing Russia to continue … How Russia could use crypto to bypass Western sanctions... Read more ›
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Among Joe Biden’s options to punish Russia for its invasion of Ukraine are disruptive cyberattacks—the kind that Russia itself often unleashes on other countries. Even more broadly, sanctions experts have discussed the possibility of cutting countries off from the global internet entirely, the way governments do to stifle unrest in domestic regions. But Russia has been preparing for … Russia has been preparing to have its internet cut off Read... Read more ›
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Business Insider
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27.11.2024 03:45
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