By Andrei Skvarsky Renaissance Capital analysts say Romania has seriously improved its business climate and has made “an impressive recovery” from the global financial crisis. Continue Reading
By Andrei Skvarsky Renaissance Capital analysts say Romania has seriously improved its business climate and has made “an impressive recovery” from the global financial crisis. Continue Reading
By Andrei Skvarsky Russia’s central bank has sold an 11% stake in Moscow Exchange in partially fulfilling its obligation to divest all its interest in the bourse by January 1, 2016. Continue Reading
The European Bank for Reconstruction and Development (EBRD) has invested over RON 320 million (equivalent to €75 million) for an 8.6 per cent stake in Romania’s electricity distribution company S.C. Electrica S.A., as the firm moves towards privatisation in the country’s largest-ever IPO. Continue Reading
The European Bank for Reconstruction and Development (EBRD) is organising a financing programme of up to €7.1 million to construct and bring into operation a 2.25 MW biogas plant, adjacent to Rokytne sugar mill in the Kiev region. The plant, which will be the largest facility of this type in the country, will generate electricity… Continue Reading
Trading of Yandex shares on Moscow Exchange started yesterday in Russian rubles under symbol “YNDX”. Shares also continue to trade on the NASDAQ Global Select Market, where the search company was introduced in 2011. Continue Reading
Last week, Russian online local-search service Yell.ru announced that it has secured $11 million, which includes $8 million from Vostok Nafta and $3 million from current investor AB Kinnevik. Continue Reading
Middle Eastern investors are expected to spend US$180 billion in commercial real estate markets outside of their own region over the next decade, according to the latest research from global property advisor CBRE. Continue Reading
The Asian Development Bank (ADB) has approved a $300 million loan to help India’s northeastern Assam state continue its drive to eliminate power sector inefficiencies that are hurting its consumers, its world-famous tea industry, and its environment. Continue Reading
The EBRD plans to invest up to PLN 50 million (€12 million equivalent) in the forthcoming IPO of Altus TFI S.A. on the Warsaw Stock Exchange. Altus is a privately held mutual fund and asset management company in Poland with more than PLN 5 billion of assets under management across 36 funds. Continue Reading
Rye, Man & Gor Securities, a Russian investment firm, and East-West Digital News, an international resource on Russia’s IT, have issued a report on the status and trends of Russia’s venture market in 1Q 2014. Continue Reading
Mobile app builder iBuildApp has raised $200,000 from Starta Capital and Nikolay Belykh. iBuildApp is an international project that enables clients to build and manage mobile apps. As well as being a resident of Moscow’s Skolkovo IT-Park, the project also has its headquarters in Foster City, California. Continue Reading
VTB Capital has been mandated as a joint bookrunner and joint lead manager on the placement of CNH 1 billion offshore renminbi bonds in the Reg-S format for Beijing Capital Company Limited, to be listed on the Hong Kong Stock Exchange and priced with a coupon of 4.7% and a three-year maturity. Continue Reading
By Andrei Skvarsky. Renaissance Capital, one of Russia’s leading privately owned investment banks, has hosted an annual investor conference in Moscow, a three-day event that opened on June 23 and was expected to bring together more than 200 attendees with assets under management totalling more than $3trn. Continue Reading
From Asia Frontier Capital – Newsletter for May After ten years of civil war between the government and Maoist rebels ended in 2006, Nepal is looking to shed its violent past and provide its citizens with political stability and economic growth. In the foreseeable future, economic growth will largely depend on the government’s ability to exploit… Continue Reading
By Andrei Skvarsky. Sberbank chief executive Herman Gref has asked Ukraine’s chief prosecutor to apologise for “groundless” allegations that Russia’s biggest lender has been financing pro-Russian separatists who are fighting government troops in eastern Ukraine. Continue Reading
By Andrei Skvarsky. Asia-focused fund manager Asia Frontier Capital (AFC) points out that Vietnam, not the most yearned-for destination for the average investor, has become one of the world’s fastest-growing economies since market reforms opened up the ex-communist country to foreign capital in the late 1980s. Continue Reading
By Andrei Skvarsky. Mosoblbank, Russia’s 83rd largest bank by assets, “most likely” had a division whose job was to cook the books in a bid to bypass regulatory restrictions slapped on the distressed lender with the aim of stopping it from going to the wall, a central bank deputy governor said. Continue Reading
Source – East-West Digital News Ozon Holdings, one of Russia’s most established e-commerce players, announced that it acquired a stake in LitRes, the leader in Russia’s fast growing – though still embryonic – domestic e-book market. Neither the size of the stake nor the amount of the transaction has been disclosed. Continue Reading
As reported by Guardian, streaming music service Bloom.fm, app with more than 1.1m registered users in the UK alone, has shut down after its main investor pulled out suddenly. Continue Reading
By Andrei Skvarsky. Client accounts at Bank Rossiya have plunged by a total of 12.6bn rubles ($362m) since the end of March as customers have been withdrawing foreign currency from the St Petersburg-based lender after the United States imposed sanctions on it. {{{?}}} Bank Rossiya limited its business to ruble transactions after the U.S. government… Continue Reading
The crisis in Russia and Ukraine is having a severe impact on the economies of the two countries and is threatening to slow down the recovery in the wider EBRD region – or even bring it to a complete halt. {{{?}}} The EBRD’s latest economic report predicts growth in the transition region of just 1.4 per cent in 2014,… Continue Reading
Investors willing to inject money into the Crimea will receive “considerable support” from the Russian government, Oleg Savelyev, the Russian minister responsible for the region, promised earlier this month. {{{?}}} As Rusbase reported, in addition to Russian and Ukrainian investors, Minister Savelyev hopes investors from China, India, Korea and the entire Southeast Asia will also line… Continue Reading
The government of Ukraine has pledged to do more to combat corruption with the support of the European Bank for Reconstruction and Development (EBRD), multilateral organisations as well as domestic and foreign business associations. {{{?}}} The Ukrainian Anti-Corruption Initiative aims to improve the investment climate and to strengthen the economic outlook by ensuring greater accountability and transparency… Continue Reading
The European Bank for Reconstruction and Development (EBRD) has appointed, Francis Malige to the new position of Managing Director for Eastern Europe and the Caucasus. {{{?}}} Mr Malige assumed his role 1 May. He is responsible for leading the Bank’s operations in Belarus, Moldova, Ukraine, Armenia, Azerbaijan and Georgia. Initially based in London, he will be relocating to Kiev later in the… Continue Reading
In late April Andrei Romanenko, a top executive at Russian payment giant Qiwi, announced the launch of Run Capital, a venture fund targeting Russian tech start-ups at the pre-seed and seed stages. {{{?}}} The $30m fund will able to provide young Russian entrepreneurs with much more than just financial support, East-West Digital News, the first… Continue Reading
The European Bank for Reconstruction and Development (EBRD) is significantly increasing its public sector lending in Ukraine as it joins in the response of the international community to support the Ukrainian economy. {{{?}}} In a project financed together with the European Investment Bank, the EBRD is providing a €200 million loan to finance the modernisation… Continue Reading
{{{?}}} Landing a new job is challenging enough. If you’re also trying to break into executive management, switch industries or functions, or reenter the workforce after a prolonged hiatus – success depends on a comprehensive job search strategy. To help you devise and execute your strategy, Ivy Exec is providing Emerging Markets Investment Professionals Network… Continue Reading
By Tyler Hawkins Sunshine, PhD World War III is certainly not looming and any fallout from recent events in the Ukraine will only have a short-lived effect on capital markets in Russia, let alone the rest of the world. {{{?}}} Russian equity indices and credit default swaps are trading at the lower end of the… Continue Reading
{{{?}}} Pursuing the goal of setting up its own payment operation and clearing centers to circumvent US-based Visa and MasterCard, Russia may have its own homemade chip for banking cards as early as next year. According to East-West Digital News, the first all English-language online resource dedicated to Russian digital industries, citing the Russian business daily… Continue Reading