INDUSTRY REPORTS

Apple Pay to Launch in Russia

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By Marina Romanova

013016_motor_tilke-vadapt-664-high-7510 Russian financial institutions including VTB 24, Alfa-Bank, Tinkoff Bank and Raiffeisen bank are planning to launch Apple Pay following the market leader, state owned Sberbank, which has launched Apple contactless payment service since last week, Russian media reports.

According to the appleinsider.com, at launch, participating retailers include ATAK, Aushan, Azbuka Vkusa, BP, Magnit, Media Market, M.Video, TsUM and authorized Apple reseller re:Store. Touchless payments are expected to roll out at Electronics store Eldorado and Burger King in the near future.

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Eurasian Transport Hub for the Silk Road Economic Belt to be Built in Outskirts of Moscow

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By Marina Romanova

vagon_03Russia and Kazakhstan plan to build a 400,000 TEU international logistic center ‘Central Dry Port’ in Moscow suburbs, Russian daily Kommersant reports. Russian firm Coalco Development and KTZExpress, subsidiary of Kazakhstan’s Railways, signed an agreement on this project on October 5th.

The construction site of the logistics hub handling containers passing along the “New Silk Road” (China – Kazakhstan – Europe) and Trans-Siberian corridor will be situated in Domodedovo district of Moscow region on a 60 hectare plot of land at Russian M-4 “Don” highway. Container and transport terminals, warehouses of low-temperature and dry containers are planned to be built there.

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E-learning Market to Grow in Russia

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By Marina Romanova

gfk501Online education industry, also known as elearning, is growing fast in Russia, and according to the experts forecast, is expected to grow by 25 percent a year, Russian daily Kommersant reports. Statistics reveal that the world e-learning market is worth around US$107 billion and one of its major markets – Eastern Europe – is driven by Russia.

Although Russia, according to the J’son & Partners Consulting research, is responsible for only about US$162 million market share, nation e-learning market has a vast potential and continue to grow despite of the current economic crisis. Quite the contrary, the economic crisis is prompting more and more Russians to learn foreign languages. As many as 7.2 million Russians at least ones were enrolled in e-learning, Stanislav Korolkov, head of the Russian e-learning center Unibrains, told Kommersant daily.

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Alrosa to Double Diamond Sale to Asia in 2018

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By Marina Romanova

CrV6ASvUIAAIIH5A day ahead of the Second Eurasian Economic Forum, Russian PJSC Alrosa, the world’s largest producer of rough diamonds, has open its Eurasian Diamond Centre in Far Eastern port-city of Vladivostok. According to the miner press release, the company wants to boost gem sales to Asia-Pacific nations, including China, India, Japan, and Singapore; and improve cooperation with companies in the region.

The new trading platform will provide an infrastructure cluster to unite diamond industry companies and cater to export-import operations. The Centre will also be in charge for the search of “potential new partners and investors to set up manufacturing facilities for industrial grade diamonds and production of diamond cutting industry equipment.”

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Russian Art Market to Return to the Health

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By Marina Romanova

lott48-1This summer London’s Russian art sales at four London auction houses – Sotheby’s, Christie’s, Bonhams and MacDougall’s – were the lowest in over a decade in records dating to 2007 at £16.4 million (around US$21.5m), falling short of their £17.7 million (US$23.2m) target, according to the UK and international press.

In 2015 Russian art sales brought a combined £21.1 million (US$27.69m) – barely over half the £40.7 million (US$53.41m) taken at the previous Russian Week in November 2014, and just one-third of the £64.3 million (US$84.38m) generated by the corresponding week in June 2014, according to Russian Art & Culture.

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Hyundai Motor’s Russia to Ship Cars to Georgia and Tunisia

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By Marina Romanova

asian-alliance-mapHyundai Motor’s Russian plant in St Petersburg will start exporting Russian-assembled cars to Georgia and Tunisia this month, the company said in its statement yesterday.

The world’s fifth-biggest automaker will ship the Solaris, its flagship model in Russia, to Tunisia and its Accent and Creta models to Georgia. Creta will also be exported to Kazakhstan, Belarus, Ukraine and Georgia and to the Middle Eastern Egypt and Lebanon.

Hyundai Motor’s Russia started producing its second model, Creta crossover, at company’s St Petersburg plant this August. Following an upgrade which cost the equivalent of US$100 million, Hyundai has now added production of the Creta crossover to the facility which formerly built only the Solaris small car.

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Moscow to Restore Ties with Ankara Contrasting Public Opinion

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By Marina Romanova

fpvyfTurkish president Recep Erdogan travels to St. Petersburg on coming Tuesday, August 9th, to meet his Russian counterpart Vladimir Putin to restore two nations’ economic ties being down since Turkish air force dropped Russian Su-24 fighter jet near the Syrian-Turkish border in November 2015. The followed termination of Moscow-Ankara affairs painfully hit public relations, economic affairs and trade.

Food, Agro Products and Joined Projects

Initially Ankara has been one of the beneficiaries of Russia’s food embargo against the west. In 2014, bilateral trade in agricultural products increased by 19 percent to US$4 billion. When Moscow has embargoed a range of products and foodstuffs, including shipments of fresh fruits, vegetables and nuts, poultry and salt, food exports from Turkey were in serious trouble. Nearly 20 percent of Russia’s vegetable imports are provided by Turkey, and about US$31 billion in bilateral trade was at risk amid deteriorating relations between the two countries.

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From Russia through Prism of ‘Prisma’

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By Marina Romanova

fullsizerender-4Mail.ru, Russia’s leading LSE-listed Internet company, said Tuesday it had “became an investor in Prisma”, Russian and international media quoted Russian billionaire Alisher Usmanov, the owner of the firm, as saying. The news came out just over a week the new app hit the market. Mail.Ru reportedly bought a 10 percent stake amounts to US$2 million. The investment went through My.com, Mail.ru Silicon Valley-based subsidiary launched in 2013.

Gagarin Capital, a California-based fund with Russian roots, and XBT, an international Internet hosting company also reported to participate in Mail.ru investment.

Prisma, the new iOS photo art app, was gone viral in post-Soviet states, including Russia, Estonia, Kazakhstan, Latvia, Moldova, Ukraine and Uzbekistan the days after launch but has already garnered some 1.6 million downloads.

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IKEA to Beat “The Way to Communism” and to Invest US$2.1 BLN in its Russian Malls

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By Marina Romanova

1454919171_ikeaThe Supreme Court of Russia has affirmed the lower court’s ruling rejecting a claim of an agricultural enterprise, former collective farm “The Way to Communism”, which demanded to demolish two 15 store’s buildings of the “Khimky” business park, belonging to Swedish furniture retailer. Thus the court has settled the claim of IKEA, Russian news agency RIA Novosti reports.

The 16.4 hectare plot of land has been at the root of a long-term dispute between the retailer and former collective farm, now called Khimki Collective Agricultural Enterprise. They accuse IKEA of faking the documents required to obtain the land on the Leningradskoe highway, the Russian Kommersant daily reported.

Agricultural Enterprise board members claim that their signatures were faked and that they never agreed to give away the disputed land to the Khimki administration. Khimky city administration leased out the plot of land to IKEA for 49 years in 1993 and then sold the land to the retailer in 2011. Continue reading…

Russia’s diamond miner to start new kimberlite pipe and plug state budget holes

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By Marina Romanova

KMO_124003_04031_1_t218_212550Russian diamond miner Alrosa PJSC has announced the start of the development of Zarya kimberlite pipe, a new deposit in its Aikhal Mining and Processing Division (MPD) located in Mirny District of Russian Republic of Sakha. The initial investment estimated by the company to approximately US $150 million. The announcement came along with the news of 10.9 percent of central government Alrosa’s stake, valued at more than US$860 million, to be auction soon.

The new deposit

The first commercial blasting on brand new Zarya pipe reportedly took place on June 10th and triggered the first stage of the deposit development – surface stripping to remove barren sedimentary rock overlying the ore body, Diamond World News Service explains. Continue reading…

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