Business
Chinese automaker becomes the largest foreign company in Russia Paid Members Public
The exodus of Western companies sparked by the Russian invasion and subsequent sanctions has completely changed Russia’s corporate landscape. New research into the top foreign companies active in the Russian market reveals the extent of that overhaul over the last two and a half years. * Of the 50 biggest
Pavel Durov opposed strict moderation — it could cost him his freedom, and his company Paid Members Public
Telegram founder and Russian tech icon Pavel Durov spent just 96 hours in a French jail. Released on house arrest, the case is far from over, and will have repercussions way beyond him and his platform. The saga looks set to go a long way towards shaping the future relationship
Russia’s billionaire Hairspray King Paid Members Public
Before 2022, the name Alexei Sagal meant little to anyone in Russia outside the domestic cosmetics industry and residents of his native Stavropol Territory in the south of the country. That has changed completely since Russia invaded Ukraine as Sagal swooped to take control of Heineken’s Russian businesses. That
Divorce, Kadyrov and corporate raiders: The blockbuster saga at Wildberries Paid Members Public
Online shopping has belatedly become a major industry across Russia over the last five years. After a slow start, online marketplaces are thriving and pick-up points can be found all over the country, even in the smallest remote villages. But market leader Wildberries hit the headlines last week for something
Yandex founder tells The Bell about his new business Paid Members Public
After months of negotiations, Yandex has completed its break-up — splitting into a Russian arm that will keep the name, and the vast majority of the company’s revenues, employees and services; and an international division, to be headed up by its founder, Russian tech tycoon Arkady Volozh. In his only
Wildberries set for new Putin-approved shareholders Paid Members Public
A very strange deal is in the works involving Russia’s largest online marketplace, Wildberries. The company, which sees around 2.5 trillion rubles’ ($27.5 billion) worth of business a year, is set to merge with the Russ group, Russia’s leader in outdoor advertising. The merger has Putin’
Hamster Kombat takes Telegram by storm, helping app’s crypto ambitions Paid Members Public
A Russian-developed mobile game linked to the world of cryptocurrency has proved a mega hit for Telegram, providing a big boost to the app’s founder, Pavel Durov, and his own blockchain project. Hamster Kombat, a simple game in which players pound their phone screens to generate virtual currency, has
War helps Russian jewelry market shine again Paid Members Public
Money from the war is pumping up the unlikeliest corners of the Russian economy. As soldiers’ families back home look to splash the cash from their loved ones’ bumper salaries, retail sales of jewelry are set to climb by at least 15-20% this year, according to figures collected by Kommersant.
‘Pirate’ Western cars go on sale Paid Members Public
Almost all international car brands have left Russia since the start of the war, and it has become impossible to continue making authentic and licensed foreign vehicles from Russian factories. However, a loophole has emerged that enables Russian companies to manufacture so-called “pirate” cars, branded as Western models without the
The Great Repatriation: Russian millionaires bring their cash back to the Motherland Paid Members Public
After trying to send their money overseas in the immediate aftermath of Moscow’s invasion of Ukraine, wealthy Russians are now bringing their millions back home, new data shows. The number of high net worth individuals jumped back above pre-war levels last year, after falling in 2022. Some 22,000
