m Paper packaging sales stabilising, as decline slows from 17% in Q1 to 12% in Q2, and to 9% in August By www.retailtechnologyreview.com Published On :: Fri, 13 Nov 8240 17:28:37 +0000 New data from Demica, the fintech, reveals that the paper packaging sector in key markets across Europe and North America is showing signs of stabilisation. Full Article Internet Retailing Critical Issues
m New Forter report finds UK consumer ‘Trust Premium’ rises, but checkout friction and unfriendly policies are costing British retailers By www.retailtechnologyreview.com Published On :: Forter, the Trust Platform for digital commerce, has released findings from its 2024 Consumer Trust Premium Report, which explores the evolving relationship between consumer shopping habits and brand trust, based on 2,000 survey respondents in the US and UK. Full Article Internet Retailing Retail Supply Chain Critical Issues
m Descartes’ Study Reveals Nearly 90% of Consumers’ Sustainable Home Delivery Choices Are Impacted by Economic Pressure By www.retailtechnologyreview.com Published On :: Descartes Systems Group has released findings from its 2024 Home Delivery Sustainability Report: The Environmentally Conscious Consumer Under Pressure survey, which examined online consumer sentiment of retailers’ sustainability practices around their delivery operations. Full Article Internet Retailing Retail Supply Chain Critical Issues
m MandM unveils interactive Live Shopping experience on Facebook and Instagram By www.retailtechnologyreview.com Published On :: MandM, the online retailer specialising in discounted fashion, sports and outdoor brands, has launched the first of a series of live shopping events on Facebook and Instagram in collaboration with Sprii. Full Article Digital Signage Internet Retailing Retail Supply Chain
m How to Grow Your eCommerce Business Using Cutting-Edge Social Media Strategies By www.retailtechnologyreview.com Published On :: By Luke Alexander, freelance writer.In today's digital landscape, social media has become a pivotal tool for eCommerce businesses looking to thrive in a competitive market. With 5.17 billion active users, social media is essential for businesses aiming to grow and sustain their presence. Full Article Critical Issues Internet Retailing
m DHL eCommerce UK announces new management appointments By www.retailtechnologyreview.com Published On :: DHL eCommerce UK has made two new appointments to its management team, drawing on experience from the retail industry to further align DHL’s services to the evolving eCommerce market. Full Article Internet Retailing Retail Supply Chain
m Linnworks partners with Loop to streamline post-purchase experience for retailers By www.retailtechnologyreview.com Published On :: Linnworks, provider of inventory, order and warehouse management solutions for ecommerce retailers, has announced its new integration with Loop, a post-purchase platform designed to optimise returns, exchanges and reverse logistics. Full Article Internet Retailing Retail Supply Chain
m Sinch releases 2024 Black Friday and Cyber Monday predictions By www.retailtechnologyreview.com Published On :: Sinch, the company developing the way the world communicates through its Customer Communications Cloud, has released its predictions for the 2024 Black Friday and Cyber Monday (BF/CM) shopping season. Full Article Retail Supply Chain Internet Retailing Critical Issues Cloud Computing
m Practicality, self-care, and surprises: why deep discounts aren’t the main motivator for consumers By www.retailtechnologyreview.com Published On :: While discounts and sales events have long been associated with holiday shopping, new data from e-commerce provider Visualsoft reveals that consumers are motivated by more than just deep discounts when it comes to their seasonal and gifting purchases. Full Article Internet Retailing Retail Supply Chain Critical Issues
m SDI Group owner Ilgar Hajiyev runs away from debts and prison By english.pravda.ru Published On :: Wed, 25 Mar 2020 11:06:00 +0300 Ilgar Hajiyev, a developer of Accord Smart residential complex, accused of numerous crimes, including real estate scam, is facing another criminal case in Russia. Defrauded homebuyers are collecting signatures for a petition in their defense. These people, who paid their money for apartments in the Moscow region, Odintsovo сity district, but never received keys to their new homes, demand Hajiyev should be delivered to Russia to stand trial for fraud. Only 4 apartment buildings out of 12 that should have been commissioned in 2020 are built - with many violations. "Numerous violations were committed during the construction: façades are falling off, walls and decoration of public areas are crumbling, cardboard doors are already broken," the petition reads. The billion worth scam Hajiyev fled overseas with investors' money in January 2019. It was not only clients, but also business partners, whom Hajiyev scammed, including creditors of SDI Group. Apart from Accord Smart housing complex, subsidiaries of SDI Group were also developers of the Pirogovskaya Riviera residential complex in Mytishchi, the Moscow Region. The complex is being finished by another developer. Hajiyev started building the Pirogovskaya Riviera complex together with businessman Isai Zakharyaev, who later left the project, but never received money for his share. The head of SDI Group owes more than one billion rubles to the former partner. Another one billion Hajiyev siphoned off from the project developer Comfort Invest. Full Article Business
m COVID-19 scam or just simple corruption in Russia? By english.pravda.ru Published On :: Fri, 27 Mar 2020 15:44:00 +0300 Screenshot from the site of Japanese company K.K. Mirai Genomics The Moscow Healthcare Department purchased more than 50 devices and hundred of thousands of test systems for SARS-CoV-2 coronavirus from a company called Medpromresurs. This sounds like good news, if it was not for the dodgy reputation of the company. Thieving businessmen are trying to cash in on the disease that their compatriots suffer from while keeping an eye on the funds from the state budget too. US funded Radio Liberty investigated the Moscow's purchase, that got links to 2019 scandal in Tatarstan. The story began in September 2019. During the Eastern Economic Forum, which was held last autumn, a little-known Japanese company K.K. Mirai Genomics promised to invest 2.5 billion rubles ($30 million) in the production of a diagnostic system for infectious diseases in the Republic of Tatarstan. The systems were supposed to be subsequently acquired at the expense of mandatory medical insurance - the state budget that is. Russian company PharmMedPolis-RT acted as a partner on the Russian side. Taliya Minullina, the head of the Agency for Investment Development of the Republic, put her signature on the agreement for the production of biochips for the diagnosis of influenza. The story was highlighted by a lot of Russian media for its connection to corruption and money-laundering issues. The chips were allegedly patented in Europe, the USA and Japan (coronavirus was nowhere near back then). Strangely enough, the supposedly patented trademark for the LifeRing molecular diagnostic system that consists of disposable chips is not manufactured in any of the above-mentioned countries. Moreover, as the Versia found out, the company's offices in Japan and the United States are located in cheap Class B office buildings, which does not go along with the promise to invest 2.5 billion, because a company like that simply does not have that much money. However, methods for rapid diagnosis of influenza are not just being developed in our country - they are already in practical use. Moreover, the time that is required for testing biomaterial is even shorter in comparison with the time period that foreign-made chips need for the same purpose. K.K. Mirai Genomics was a very little-known company indeed: it did not even have a website at the time when the deal was signed. Mirai never provided any specifications and descriptions of the technology, nor did it say anything about the results of clinical trials. Such facts did not stop the authorities of Tatarstan, though. Full Article Business
m Why do people use cryptocurrency despite all the fraud and complexity? By english.pravda.ru Published On :: Tue, 08 Sep 2020 11:33:00 +0300 With the continuous and rapid evolution of the technological era, digital currencies are gaining popularity daily. They have been gaining traction from the past half-decade. Despite the fluctuations in bitcoin and other cryptocurrencies' value, more and more people start seeing cryptocurrency as a profitable investment. For instance, if we talk about Bitcoin, one of the most popular types of cryptocurrency, it has taken over the digital currency market. If we further discuss its fame, you'll see that it is being used in some of the biggest business names around the globe, including Microsoft, Overstock, and AT&T, now accept it as a method of payment. Here, you might be thinking, why do people use cryptocurrency and cryptocurrency wallets? What are their pros and cons? Is it worth investing in cryptocurrency wallets in 2020? If you have such questions, get them answered here. But first, let us tell you about the MOST USEFUL cryptocurrency wallets. A lot of wallets are designed solely for the storage of cryptocurrencies. At a time when there was a peak in online currency exchanges and thefts, there was a need to create a wallet that will provide ultimate protection. OWNR Wallet is one of the safest bitcoin wallets to buy crypto in 2020. It helps people in keeping their digital money safe from external threats. Along with security, OWNR Wallet offers a variety of useful features for both holders and traders. Full Article Business
m USA wants to finally kill Russia's Nord Stream 2 gas project By english.pravda.ru Published On :: Tue, 20 Oct 2020 19:36:00 +0300 The US will expand sanctions against the Nord Stream 2 gas pipeline project. The sanctions will now affect companies that provide services or funding to install equipment on board the vessels that take part in the project. Such a move may permanently halt the construction of the pipeline. The news to expand the sanctions was reported on the website of the US Department of State. Similar restrictions are to be imposed on the participants of the Turkish Stream and other similar projects.The Nord Stream-2 gas pipeline provides for the construction of two sections of the gas pipeline system with a total capacity of 55 billion cubic meters of gas per year from the coast of Russia to Germany along the bottom of the Baltic Sea. Originally, the construction of the pipeline system was supposed to be completed in 2019. However, the work on the project was suspended after US Congress passed a package of sanctions against the participants of the project. The USA remains opposed to the project, claiming that it makes Europe overly dependent on Russian natural gas and increases political pressure on Ukraine, which transits natural gas further to Europe. Kiev and several countries of the European Union share the same position. "Russia uses its energy export pipelines to create national and regional dependencies on Russian energy supplies, leveraging these dependencies to expand its political, economic, and military influence, weaken European security, and undermine U.S. national security and foreign policy interests. These pipelines also reduce European energy diversification, and hence weaken European energy security," the US State Department said in a statement. Russia, Germany, Austria and a number of other countries, whose companies are involved in the construction, insist that this is nothing but a business project.In late 2019, the United States imposed sanctions on Nord Stream-2, having demanded the companies involved in the construction should immediately stop their works on the project. Allseas, a Swiss company, pulled out of the project almost at once.Representatives of Russia's natural gas monopoly, Gazprom, stated that they would be able to complete the construction of Nord Stream-2 independently. For the time being, one needs to finish the construction of the section that is 100 kilometres long. On October 17, German Foreign Minister Heiko Maas said in an interview with RND that the project would be completed. Full Article Business
m Makhlai blames Uralchem for TogliattiAzot being in trouble By english.pravda.ru Published On :: Mon, 13 Sep 2021 12:26:00 +0300 The runaway owner of TogliattiAzot, Sergei Makhlai, is once again in the spotlight of Russian media. This time their interest was aroused, apparently, by the media publications sponsored by Makhlai. Recently several Russian media have suggested that the chemical giant TogliattiAzot needs a change of ownership, since the current main owners of the plant, headed by Sergei Makhlai, have ruined the enterprise and criminalized it drastically. This seriously scared Makhlai, who attempted to justify himself and lay the blame on the others. Full Article Business
m German Lillevali and tumbled pyramids of grand strategists By english.pravda.ru Published On :: Wed, 15 Sep 2021 20:55:00 +0300 How do famous film directors and athletes become baits for pyramid schemes? How are such prominent figures as Anatoly Karpov, Nikita Mikhalkov and other renowned personalities in Russia involved with the scammers from Anchor-Invest? Scarcely ever it is possible to catch and put into jail big-time operators of financial pyramids how it happened with Mavrodi, the famous "financier of Russia". Apart from Mavrodi, a variety of pyramids existed and continue to operate in Russia that have the same backbone; to take your money. Full Article Business
m How small businesses go from brick to virtual By english.pravda.ru Published On :: Tue, 02 Nov 2021 15:51:00 +0300 It's difficult to highlight any positives of the recent pandemic. However, if one exists in the business world, it's the virtual infrastructure that was built on the fly to allow companies to make the shift away from traditional brick and mortar operations. If you've been on the fence about a permanent shift in the virtual direction, this is your time to shine. The benefits of going virtual Full Article Business
m Foreign companies leave Russian market one after another By english.pravda.ru Published On :: Wed, 02 Mar 2022 18:48:00 +0300 Many foreign companies, including oil and gas enterprises, are leaving the Russian market due to high risks associated with the sanctions war between Russia and the West. In addition, it will be too difficult for them to withdraw their income from Russia abroad, economist Marcel Salikhov believes. At the same time, oilfield service companies that used to work in Russia back during the days of the USSR, will stay in the country, he added, lenta.ru reports. It is up to company administrations to decide whether they want to leave the Russian market or not. The sanctions that were imposed on Russia following the military operation in Ukraine do not limit their participation in the Russian economy. Russia's response to Western sanctions may in one way or another affect the position of foreign companies in the country, especially with regard to strategic sectors of the economy. In addition, Putin banned foreign companies from withdrawing their funds abroad to parent companies. All this combined has tarnished the assets. Full Article Business
m McDonald's, Coca-Cola, Pepsi, Starbucks – All gone By english.pravda.ru Published On :: Wed, 09 Mar 2022 14:18:00 +0300 On March 8, McDonald's fast food restaurant chain announced a temporary closure of all of its restaurants in Russia. It goes about 850 outlets that employ 62,000 employees. McDonald's CEO Chris Kempczinski said that employees would still be paid their salaries during this period, but did not specify for how long and in what amount. McDonalds' decided to suspend its activities in Russia due to the ongoing crisis in Ukraine as the company cannot ignore the human suffering. Starbucks coffee chain made a similar decision the same day. Starbucks CEO Kevin Johnson said that all activities in Russia were suspended, including all shipments of all products. Full Article Business
m Yukos skeletons. What links Aleksey Golubovich with former owners of the oil company. Part I By english.pravda.ru Published On :: Wed, 30 Mar 2022 17:16:00 +0300 Russia's refusal to pay $50 billion to former Yukos shareholders will lead to new investigations.On March 31, the Moscow City Court will consider an appeal, which was filed against the ruling to pay $35 million to former Yukos shareholder Alexey Golubovich by his ex-wife Olga Mirimskaya. Allegedly, she received the money for the sale of Yukos shares 15 years ago, and her ex-husband asked for his share as part of the divorce proceedings that have been ongoing for the last ten years. These are unusual demands as Mirimskaya has never owned shares in the oil company. In addition, Golubovich was not only its shareholder, but also served as the director for strategic planning and corporate finance at OAO NK Yukos and was aware of all information related to the financial dealings of the oil giant. A journalistic investigation conducted by Pravda.Ru showed that Alexey Golubovich likely still works in close collaboration with other ex-owners of Yukos. Alexey Golubovich, a former shareholder of Yukos oil company, and Olga Mirimskaya, the chairwoman of the Board of Directors of BKF Bank, divorced in 2012, but the litigation over the division of their marital property continues to this day. Olga Mirimskaya is the founder of the Russian Product Company. She is also President of BKF Bank. Mirimskaya is charged with giving a bribe — two vehicles worth a total of 3.25 million rubles — to Yury Nosov, an investigator at the Moscow Region Department of the Investigative Committee in 2017. He handled the case, in which she appeared as a victim in connection with the kidnapping of her daughter. Nosov and Mirimskaya were arrested in the bribery case. They plead not guilty, claiming that the case has been initiated under false pretences with malicious intent. "According to the defendant, the case was initiated by Alexey Golubovich, as well as by her former common-law partner Nikolai Smirnov, a co-owner of the Golden Crown payment system, as an act of revenge for the return of her daughter, in order to seize her property," Mirimskaya's lawyer Alexander Chernov said. Full Article Business
m Skeletons of Yukos. Why GML paid Alexey Golubovich $44 million. Part 2 By english.pravda.ru Published On :: Tue, 05 Apr 2022 12:09:00 +0300 Continued. Read Part I of the article here. Alexey Golubovich, Yukos's former director for strategic planning and corporate finance was one of the main witnesses in the case against Yukos. How can one determine the basis of his testimony? Was it a wish to help the Russian justice system or the subtle game of a "double agent"? In order to understand this, one may need to recall a few facts from his business biography. In the first part of our investigation, we talked about Alexey Golubovich's business projects and lawsuits in 2010–2022, in which one could see both the shadows of his former Yukos colleagues (for example, Mikhail Khodorkovsky, Yuri Beilin) and the non-systemic opposition. Full Article Business
m A military cession awaits the world economy, says a leading Wall Street strategist By english.pravda.ru Published On :: Wed, 13 Apr 2022 03:26:00 +0300 Rising global commodity prices and falling economic growth around the world are the result of the decision by Biden and his European "acolytes" to declare economic war on Russia. The U. S. and the European Union announced tougher sanctions against Russia because of the "Bucha incident" without an international investigation. Nevertheless, as Pravda previously wrote, the "atrocities in Bucha" were most likely staged by the Zelensky regime. The economic war of Western civilization against Russia has in any case been declared and its goal is clear: the complete destruction of Russia, the seizure of its territories and natural resources. Most likely, the total energy blockade of Russia will only intensify, throwing the world financial markets into chaos. Full Article Business
m Foreign companies suffer a total of $70 billion in losses after they leave Russia By english.pravda.ru Published On :: Thu, 25 Aug 2022 19:04:00 +0300 The losses that American, European and Japanese companies have suffered after they left the Russian market are evaluated at tens of billions of dollars, RIA Novosti reports. Since the beginning of the special operation in Ukraine to the present, foreign companies have lost a total of $70 billion. Companies of the fuel and energy complex have suffered the biggest losses. Many companies in this sector have deconsolidated and devalued Russian assets by ceasing to report the results of their activities in the country, they have not completely stopped working in Russia. For example, the UK-based BP, having made a number of statements about its decision to withdraw from Russian projects, was forced to retain shares in local assets. According to Putin's decree from August 5, shareholders from unfriendly countries will no longer be able to make transactions with shares in companies of strategic significane, fuel and energy companies and banks without the consent of the state. In its report for the first quarter of 2022, BP depreciated Russian assets in the amount of $25.5 billion, but it did not take practical steps to exit the projects. Full Article Business
m Combatting Sweethearting: How Retailers Leverage AI to Tackle Employee Fraud By www.retailtechnologyreview.com Published On :: Retail theft in the U.S. is reaching critical levels, costing businesses around $100 billion annually. While shoplifting and various forms of employee theft are rising, a particularly challenging issue is "sweethearting." Full Article Surveillance and Security
m Ransomware surge: RansomHub dominates as Lockbit fades, new threats emerge across industries By www.retailtechnologyreview.com Published On :: Check Point Research (CPR) has released a report revealing that ransomware remains the top cyber threat. RansomHub has quickly emerged as the fastest-growing group, operating through Ransomware-as-a-Service (RaaS). Full Article Surveillance and Security Critical Issues
m No tricks: Half-term Halloween treats retailers to a +17.7% boost to UK store footfall By www.retailtechnologyreview.com Published On :: With Halloween coinciding with school half-term and the religious festival of Diwali this year, UK shoppers embraced spooky season, delivering a boost to in-store shopper traffic, the latest data from Sensormaic Solutions, the leading retail traffic consulting and analytics group from Johnson Controls, shows. Full Article Retail Supply Chain Critical Issues
m Strengthening the MSP portfolio: Navigating modern cybersecurity By www.retailtechnologyreview.com Published On :: By Marc Malafronte, director of sales, VIPRE Security Group.As cyberattacks increase in frequency and sophistication, businesses must prioritize cybersecurity as a critical investment area. Managed service providers (MSPs) are crucial in supporting organizations on their cybersecurity journey. Full Article Surveillance and Security Critical Issues Cyber Security
m AI on the frontline: How can retailers outsmart fraudsters in real time? By www.retailtechnologyreview.com Published On :: By Aviram Ganor, General Manager EMEA, Riskified.Retailers have plenty to keep them awake at night, whether it’s enticing consumers to shop, utdoing their competition or – most worrying of all – how to ensure their long-term survival in a rocky economy. Yet the latest insight from the British Retail Consortium offers some hope. Full Article Surveillance and Security Retail Supply Chain Critical Issues
m Signs That Your Identity Has Been Compromised (and How To Get Help?) By www.retailtechnologyreview.com Published On :: By Gareth Hunt, freelance writer.One of the world's most important currencies is information. That information could be about anybody and anything and may be used in a million different ways. With this much personal information people put on the internet, it becomes effortless for cyber criminals to get that information and perpetrate identity thefts. Full Article Surveillance and Security Critical Issues
m Rising e-commerce packaging costs and the European Union’s new Packaging & Packaging Waste Regulations (P&PWR) require careful consideration By www.retailtechnologyreview.com Published On :: By Jo Bradley, Business Development Manager at Sparck Technologies.Companies can be schizophrenic about packaging and its costs. On the one hand, product packaging is closely scrutinised – a battleground between buyers seeking to drive costs down and marketers looking for ever greater impact and ‘shelf appeal’. Full Article Internet Retailing Critical Issues Retail Supply Chain
m 5 Reasons Why You Can’t Stop Scrolling on Social Media By www.retailtechnologyreview.com Published On :: By Craig McPherson, freelance writer.Think of this. You've got a serious deadline to cover and are working on it. After one hour of work, you turn back to social media for a "state of relaxation". But guess what? You keep on scrolling your favourite social media platform for hours and end up missing the deadline. Sounds familiar, right? Full Article Critical Issues
m Half-term Halloween delivers devilish boost to digital sales, rising +32.2% year-on-year By www.retailtechnologyreview.com Published On :: Online retailers saw a significant increase in online Halloween sales, bolstered by the event (31 Oct) falling during school half-term as well as coinciding with Diwali, according to data from Wunderkind, the AI-driven performance marketing solution. Full Article Internet Retailing Retail Supply Chain Critical Issues
m Threats to supply chains a top concern for 72% of FTSE 100 companies By www.retailtechnologyreview.com Published On :: 72% of FTSE 100 companies list threats to their supply chains amongst their principal risks, shows new research by supply chain management consultancy INVERTO, part of Boston Consulting Group. Full Article Retail Supply Chain Critical Issues
m Retail payroll teams struggling with seasonal hiring, but too few are leveraging technology to alleviate the burden By www.retailtechnologyreview.com Published On :: Mon, 13 Nov 2000 17:31:40 +0000 With the holiday season fast approaching, retail payroll teams around the world are bracing for the strain of seasonal hiring. The influx of workers means added payroll runs, and yet too few are turning to technology to ease the pressure. Full Article Retail Supply Chain Critical Issues
m How logistics must evolve to support the growing demand for pre-loved fashion By www.retailtechnologyreview.com Published On :: Mon, 13 Nov 5600 17:31:40 +0000 By Umar Butt, CEO of UK and Europe at Aramex.The pre-loved market is taking the fashion industry by storm. Reminiscent of the continued popularity of charity shops, thrift stores or vintage boutiques, the appetite for second hand clothes has been a constant for centuries, however in recent years a paradigm shift has moved this growing market into the mainstream. Full Article Retail Supply Chain Critical Issues Internet Retailing
m Singapore’s Cyber Security Agency award Veracity Trust Network S$1 million Grant to develop and deliver AI-powered bot detection By www.retailtechnologyreview.com Published On :: Tue, 13 Nov 3900 17:31:48 +0000 Veracity Trust Network (Veracity) has been awarded the Cybersecurity Co-Innovation and Development Fund (CCDF) CyberCall grant of S$1 million by the Cyber Security Agency Singapore (CSA). Full Article Cyber Security Artificial Intelligence
m New Russian McDonald's to have books instead of toys in Kids Combos By english.pravda.ru Published On :: Tue, 29 Nov 2022 19:49:00 +0300 Russia's Vkusno i Tochka (Tasty and That's It) fast food chain, which appeared n the country instead of McDonald's, will have meal combos for children similarly to Happy Meal, the company's press service told RBC. The sets will be called "Kids Combos." The company will remove toys from the sets to replace them with books. The new products will be available at restaurants of the network from December 12 in Novokuznetsk, Novosibirsk, Berdsk, Barnaul, Tomsk, Kemerovo and Krasnoyarsk. Kids Combos will be available throughout Russia starting from January. Kids Combos will include nuggets, cheese snacks, classic burgers, salads, carrot sticks and apple wedges, as well as a drink of choice, a representative of Tasty and That's It said. Full Article Business
m H&M Russia staff say goodbye to customers in touching video By english.pravda.ru Published On :: Thu, 01 Dec 2022 18:41:00 +0300 H&M clothing, footwear and accessories store on Tverskaya Street in Moscow closed on November 30. An employee was filmed removing store banners and signs. A note to customers on a window says that the store is permanently closed, but all returns will be processed accordingly. The staff of H&M Russia recorded a video in which they say goodbye to customers. Full Article Business
m Russia's largest bank sends huge package of documents to China for its first branch By english.pravda.ru Published On :: Mon, 26 Dec 2022 17:58:00 +0300 Sberbank — Russia's largest state-owned bank — has the only foreign branch in India. In early November it was reported that Sberbank was going to open a branch in China. According to Alexander Vedyakhin, deputy chairman of the board, all the necessary documents have been sent to China, RBC reports. "We have been communicating with the People's Bank of China a lot lately. We have sent a massive package of documents there, as the Chinese regulator is very meticulous about documents. I hope that by the end of 2023 we will be able to open a branch in China. It usually takes 1.5-2 years, but we hope that by the end of 2023 we will already have a branch in this country,” Alexander Vedyakhin said. Sberbank opened a representative office in China in 2010; A representative office of Sberbank appeared in Germany in 2009; Sberbank has only one branch abroad — in New Delhi, India. After the start of the Russian special operation in Ukraine, Sberbank came under sanctions from Western states: the United States and Great Britain froze the bank's assets and banned citizens from doing business with it, whereas the EU disconnected Sberbank from the SWIFT interbank data exchange system. Full Article Business
m UK's maker of Durex condoms decides not to leave Russian market By english.pravda.ru Published On :: Tue, 18 Jul 2023 16:53:00 +0300 Reckitt Benckiser, a British company that produces, among other things, Durex condoms, decided not to leave the Russian market, Baza Telegram channel said with a reference to an anonymous source. The UK-based company does not intend to either wrap up its business or transfer it to anyone. Former CEO Laxman Narasimhan, who left the company in September 2022, earlier spoke about Reckitt Benckiser's pullout from the Russian against the background of the crisis in Ukraine. Reckitt Benckiser manufactures and distributes a variety of products in more than 200 countries of the world. It is widely known for such brands as Vanish and Cilit Bang cleaning products, Nurofen pain reliever, Strepsils cough drops and Durex condoms. Full Article Business
m McDonald's restaurants in Kazakhstan reopen as 'I am Daniyar,' 'I am Yulia,' 'I am Aray' etc By english.pravda.ru Published On :: Wed, 16 Aug 2023 16:52:00 +0300 Former McDonald's restaurants in Kazakhstan have changed signs yet again. "We're Open" signs have been replaced with new "I am…" signs that contain proper names (in Kazakh language). For example, the signs of a restaurant in the city of Alma-Ata says "I am Madiyar." Other restaurants were called "I am Daniyar," I am Yulia," "I am Aray," I am Alexander," etc. Food Solutions KZ restaurant management company confirmed that the signs of former McDonald's restaurants were changed in six cities. Full Article Business
m Tinkoff opens new headquarters in Moscow By english.pravda.ru Published On :: Mon, 20 Nov 2023 18:19:00 +0300 Tinkoff's new headquarters occupies ninety thousand square metres in two high-rise towers — of 13 and 20 storeys — at the AFI Square business centre on Gruzinskiy Val. Called Tinkoff Space, the company's new headquarters is designed in the style of Western big tech firms such as Google and Amazon. It includes a flexible workspace, a private clinic offering a full range of healthcare services, cafes and restaurants, a consumer services centre, a beauty salon, a free-of-charge fitness centre for company employees, as well as relaxation areas: a green garden space filled with real plants, norki (dedicated rest areas) and meditation rooms. According to Stanislav Bliznyuk, Chairman of Tinkoff's Management Board, the company decided to relocate due to its growing headcount: Full Article Business
m Russia bans exports of durum wheat By english.pravda.ru Published On :: Thu, 23 Nov 2023 12:01:00 +0300 The Committee on Customs and Tariff Regulation of the Russian Government decided to ban exports of durum wheat from the country from December 1, 2023 to May 31, 2024. In accordance with the proposal from the Ministry of Agriculture and the Ministry of Economic Development, a tariff quota was set on exports of main grains — wheat, barley, corn, rye — from February 15 to June 30, 2024. The quota amounts to 24 million tons; it does not apply to supplies to the countries of the Eurasian Economic Union (EAEU). Durum wheat is widely used for the production of pastas. According to Interfax, experts explain the decision to ban exports of durum wheat with a significant rise of such exports. The Russian Grain Union indicated that shipments of durum wheat in annual terms increased by almost 13 times from July 1 to November 10. Full Article Business
m Summary of BRICS+ Fashion Summit — Day 5 By english.pravda.ru Published On :: Tue, 05 Dec 2023 21:13:00 +0300 BRICS+ Fashion Summit, the International Forum, came to an end in Moscow. It took place from 28 November to 2 December. This event powered by Fund of Fashion and supported by the Moscow Government, was attended by delegations from 60 countries. On the last day of the Forum, all the key events took place in the underground exhibition space of Zaryadye Park. 120+ brands from Argentina, Brazil, Italy, Burundi, Egypt, India, Indonesia, China, Libya, Nigeria, Serbia, Tunisia, Turkey, and other countries took part in the B2B-showroom on the final day of the event. Designers and buyers once again met for business matchmaking there. Speakers from Russia, India, Columbia, Nigeria, and Sri Lanka participated in the fashion intensive course. During the lectures and seminars included the speakers talked about collaborations, brand philosophy, zero waste production, and inclusivity. Full Article Business
m Ikea extends trademark rights in Russia until 2033 By english.pravda.ru Published On :: Wed, 07 Feb 2024 15:09:00 +0300 IKEA extended the right to its trademark in Russia until August 2033. The IKEA trademark package included: the yellow-blue logo, a full list of company services and the right to officially sell its products in Russia. The headquarters of the corporation in the Netherlands submitted an application to Rospatent on August 1, 2023. The application was approved on February 2. Full Article Business
m Kremlin explains Putin's decision to cancel nationalisation of Danone By english.pravda.ru Published On :: Thu, 14 Mar 2024 15:51:00 +0300 The Russian authorities lifted temporary state management from the assets of French food giant Danone in Russia. The decision was made for reasons of expediency, Kremlin's official spokesman Dmitry Peskov said. On March 13, Russian President Vladimir Putin signed a decree to cancel the nationalisation of Danone's business and its transfer to Russia's Federal Property Management Agency. According to Peskov, all factors and conditions need to be weighed accordingly in every situation like this. Therefore, it does not mean that the Russian leadership will make similar decisions in relation to other foreign companies. Full Article Business
m Gold prices set new all time high record By english.pravda.ru Published On :: Mon, 01 Apr 2024 13:05:00 +0300 Gold prices rose to a record high on the Chicago Mercantile Exchange (CME) on April 1, RBC reports with reference to data from the trading platform. June contracts for the supply of gold rose in price by 2.14 percent, to $2,286 per ounce. The price neared the level of $2,300 and reached a new all-time high. Gold is rising in price amid expectations for the US Federal Reserve to cut the rate in June, Warren Patterson, head of commodity strategy at ING Groep NV said. Full Article Business
m Belarus bans most of Russian tea products By english.pravda.ru Published On :: Tue, 09 Apr 2024 15:01:00 +0300 Belarus suddenly banned the sale of Russian-made tea. According to the Ministry of Health of Belarus, the reason for this decision was a violation of requirements for microbiological indicators of product safety. Sanitary services of Belarus found traces of fungus in several types of tea produced by Orimi LLC, a Russian legal entity. Belarus banned all brands of tea produced by this company, their import into Belarus was restricted as well. The list of prohibited products includes such tea brands as: Greenfield, TESS, Princess Nuri, Princess Java, as well as some types of Jardin and Jockey coffee. Orimi LLC is taking necessary measures to prove the stability of production processes and effectiveness of the safety control system, the Belarusian Ministry of Health added. Restrictions on the sale of products may be lifted as soon as the company meets all relevant requirements of the Health Ministry of Belarus. Full Article Business
m Italy summons Russian Ambassador to explain Putin's decision about Arison By english.pravda.ru Published On :: Sat, 27 Apr 2024 17:03:00 +0300 The Italian Foreign Ministry summoned Russian Ambassador to Rome Alexei Paramonov after President Vladimir Putin transferred the Russian subsidiary of Italian equipment manufacturer Ariston to Gazprom. The decision was made in accordance with last year's decree, according to which the assets of foreign companies in Russia can be transferred to temporary administration. Italy called the transfer unexpected and demanded clarification from the Russian diplomat. On April 26, Vladimir Putin signed a decree on the transfer of Russian subsidiaries of Ariston and BSH Hausgerate (structures of Ariston Thermo Rus and BSH Household Appliances) to temporary administration of JSC Gazprom Household Systems. One hundred percent of shares in the authorised capital of both companies were transferred to Gazprom temporarily. Full Article Business
m Norilsk Nickel could be nationalised after moving copper production plant to China By english.pravda.ru Published On :: Mon, 05 Aug 2024 17:57:00 +0300 Nornickel's plans to move copper plant production to China have raised questions both in the government and among experts. In April, Nornickel (Norilsk Nickel) announced plans to "create a joint venture with international partners and transfer part of the copper plant's capacities from Norilsk to China." The copper plant will continue to operate "modern copper concentrate preparation facilities and industrial 3D printers." "We are transferring our environmental problems, settlement problems, problems of market access and customization of our goods for the consumer market to where they can be solved most effectively — to China," Vladimir Potanin, co-owner of PJSC MMC Norilsk Nickel said in an interview with Interfax. Full Article Business
m RFID company prepares to scale IoT offering via global partnerships By www.retailtechnologyreview.com Published On :: Omni-ID, the developer of passive industrial radio frequency identification (RFID) tags, used by major global organisations for monitoring the location and identity of assets, has appointed Amir Mobayen as Chief Revenue Officer. Full Article RFID Data Capture