Following Severgroup’s agreement to buy 42% of hypermarket chain Lenta for $729 million earlier this week, Magnit has made a $1.78 billion bid approach for a 100% of the shares of the smaller competitor, Bankir.ru reports.
On Friday, Lenta said it had received an indicative, non-binding proposal from Magnit...
Russians have been ordering vegetables, fruit and bottled water online a lot more often than before, the Russian Association of Internet Trade Companies (AITC) told Rossiyskaya Gazeta.
According to AITC’s president Artyom Sokolov, online food sales have doubled in the past year.
"In this regard, Moscow, which has a...
The Commercial Bank of Ivanovo, a small Russian lender owned by former U.S. Congressman Charles Taylor, has been stripped of its license by the Bank of Russia after allegedly breaking anti-money laundering rules, Vedomosti reported.
The regulator said the bank committed “numerous” breaches of anti-money laundering legislation and inflated...
German feedstock industry expert Fares Kilzie told Deutsche Welle in an interview that Russian firms are set to remain the most important supplier to countries in the European Union, despite relations between Moscow and the EU hitting their lowest level in decades and the bloc's current energy diversification attempts....
Deputies in Russia’s State Duma, the lower chamber of parliament, considered amendments this week to the Code of Administrative Offenses that would levy fines on individuals and companies for distributing print media from foreign outlets without permission from Russia's state media regulator, Roskomnadzor, RBC reports.
For the amendments to become...
Russia’s total foreign exchange reserves increased to $489.5 billion in the last seven days of March, rising 0.5 percent or $2.4 billion in the week, the Bank of Russia has announced, according to Izvestya.
The regulator said in a statement on Thursday that the increase was due to proceeds from...
When Malaysian Airlines Flight MH17 was shot down over Ukraine in 2014, there was one American on board, 18-year-old Quinn Lucas Schansman. Now his family is suing two Russian banks and U.S. money-transfer firms for allegedly providing services to Russia-backed separatists accused of shooting the plane down, AFP reports.
According...
Moderate new U.S. economic sanctions against Russia would not affect the country’s investment grade credit rating, but it would be under threat if the new measures are harsher, S&P Global said on Thursday, according to Reuters.
The agency’s top analyst for Russia, CEE and CIS said they would revise Russia’s...
The Azeri capital Baku is hosting the Russia-Azerbaijan business forum on Thursday, with about 200 representatives of industrial enterprises taking part, Media.az reports.
Among the documents signed was an agreement on cooperation and organization of relations between agriculture equipment maker Rostselmash and the Sumgayit Technological Park (STP), a memorandum...
In a long-anticipated deal, Russia's largest bank, state-controlled Sberbank, agreed to sell its complete share in Turkey’s Denizbank by the end of the second quarter of 2019 to Dubai-based lender Emirates NBD, Reuters reported.
The price of $2.8 billion is about 20% lower in dollar terms from previously agreed,...
