Edition:
India

Alexander Marrow

Russia's largest lender Sberbank expects AI profit expansion

20 Nov 2020

MOSCOW, Nov 20 Artificial Intelligence (AI) will generate around 6% of targeted net profit for Sberbank this year as Russia's largest lender plans to put AI in charge of nearly all processes in its expanding product range, the bank's first deputy chairman said.

COVID-19 crisis: a shot in the arm for Russian e-commerce

19 Nov 2020

GDANSK/MOSCOW The coronavirus crisis has helped fuel a surge in online shopping in Russia that has put even the remote icy expanse of Chukotka on the e-commerce map.

Russia's TCS lifts full-year forecast after third-quarter profit rise

12 Nov 2020

MOSCOW Russia's TCS Group , which owns Tinkoff Bank, reported a 30% rise in third-quarter net profit on Thursday and reinstated its pre-pandemic financial forecast for the full year.

Russian online retailer Ozon plans potential $500 mln U.S. IPO

03 Nov 2020

MOSCOW Russian online retailer Ozon has filed for an initial public offering (IPO) in the United States, it said on Tuesday, which financial market sources said could raise at least $500 million for the company's expansion.

UPDATE 4-Russian rouble tumbles on eve of U.S. election

02 Nov 2020

* Kremlin says Russia preserving macroeconomic stability (Updates prices, adds chart)

X5 launches 'hard discounter' as Russians turn to low-cost convenience stores

29 Oct 2020

MOSCOW, Oct 29 Russian market leader X5 launched a new line of discount shops on Thursday while Magnit reported strong sales growth at its convenience stores, with low prices and speed set to drive the country's post-pandemic retail market.

UPDATE 1-Shareholders in Russia's Vostochny Bank settle corporate dispute linked to Calvey case

28 Oct 2020

MOSCOW, Oct 28 Rival shareholders in Russia's Vostochny Bank said on Wednesday they had agreed to settle a corporate dispute that U.S. investor Michael Calvey has said was the root cause of his arrest.

UPDATE 1-Rouble dives on pandemic uncertainty, monthly tax support ebbs

27 Oct 2020

MOSCOW, Oct 27 The Russian rouble dived on Tuesday as a monthly deadline for exporters to convert foreign currency earnings loomed and uncertainty over the resurgence of the COVID-19 pandemic and the Nov. 3 U.S. presidential election unsettled markets.

UPDATE 1-Rouble hits one-month high on U.S. stimulus hopes after three OFZ bond auctions

21 Oct 2020

MOSCOW, Oct 21 The Russian rouble climbed to a one-month high against the dollar on Wednesday after three government bond auctions, as rekindled hopes for a new round of U.S. economic stimulus measures supported riskier assets.

UPDATE 2-Rouble pares losses after Trump rekindles stimulus hopes, Sberbank pays dividends

20 Oct 2020

MOSCOW, Oct 20 The rouble pared losses to firm against the U.S. dollar on Tuesday and stocks recovered from multi-month lows, with shares in Russia's top lender Sberbank outperforming peers, as U.S. President Donald Trump rekindled hopes for a stimulus package.

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