Russian e-retailer Wildberries has become the biggest seller of clothes in the country, overtaking bricks and mortar franchise Sportsmaster, bne Intellinews reported. This is the first time ever that an e-commerce store becomes the biggest outlet for a product group in Russia.
Wildberries is Russia’s biggest e-commerce site and has...
Global credit rating agency Fitch Ratings said on Friday it lifted Russia's credit rating, citing strong fiscal policies and a commitment to inflation-targeting, Reuters reported.
The country’s sovereign rating was lifted to "BBB” from “BBB-” with a stable outlook, Fitch said in a statement.
The nation's credit score is now on...
Russia's National Welfare Fund (NWF) doubled in July, increasing by 4.105 trillion rubles, to 7.868 trillion rubles, and in dollars terms by $64.479 billion, to $124.137 billion, the Ministry of Finance said earlier this month, according to bne Intellinews.
The sudden rise was caused by the Ministry of Finance adding...
A latest round of U.S. sanctions against Russia that limit the buying of Russian sovereign debt on the primary market are not only neutral for Russian sovereign debt market, but could actually support the domestic federal OFZ bonds, analysts told Reuters this week.
Earlier this month, Washington introduced more sanctions...
Russian carsharing start-up Delimobil could hold an IPO at the end of 2020 on Moscow Exchange, Interfax reported on Wednesday citing Vincenzo Trani, the head of Mikro Kapital Group, which owns 77 percent of Delimobil.
Delimobil is one of about a dozen carsharing operators in Moscow that, along with Belka...
The five largest sports betting operators in Russia nearly doubled their revenue last year on the back of the FIFA World Cup being played in their back yard, CalvinAyre.com reported.
The country’s five biggest bookmakers hit 110 billion rubles ($1.7billion) in total revenue last year, up more than 86% from...
A positive effect from Moscow’s embargo on food imports from the West is reported by nearly one in two Russian businessmen, as their enterprises benefit from edging out Western rivals, Izvestia writes citing research by Business Russia.
The study reveals that 40% of entrepreneurs see only advantages from the exit...
Russia’s fifth-largest carrier, Ural Airlines, has received its first Airbus A320neo aircraft on lease from CDB Aviation, according to Business Wire. The delivery marks the introduction of the first CFM International LEAP-1А-powered A320neo to be operated in Russia.
The first aircraft, with registration number VP-BRX, is part of a lease...
China’s worsening trade dispute with the United States creates the conditions for the country to focus on the Russian market, economic development minister Maksim Oreshkin said on Wednesday, according to RIA Novosti.
"Unlike American partners, China considers Russia a reliable supplier of any products. Regarding their previous purchases from the US...
A survey by the All-Russian Public Opinion Research Center (VCIOM) has revealed that more than half of Russians (51%) have outstanding loans, while the percentage is even higher (72%) in the age group between 25 and 34 years, TASS reports.
At the same time, the majority of respondents (84%) said they...
