Russian cybersecurity firm Group IB to open global HQ in Singapore: CEO

Russian cybersecurity company Group IB is to open a global headquarters in Singapore this year or in early next as part of international expansion plans, Chief Executive Ilya Sachkov said. Sachkov, 32, is a co-founder of the Moscow-based company which was set up in 2003 and focuses on investigating high-tech crimes and online fraud. Its clients include banks, energy companies, telecom firms ranging from Russia to Latin America, Canada, the United States and Britain. The company also has offices in London, New York and Dubai.

The move to Singapore comes as Russia and the West are in a stand-off over allegations that Moscow meddled in the U.S. elections. The Kremlin has denied these allegations. Sachkov, who runs a team of more than 300 people, said timing of the Singapore move was right. (Read more….)

Two Capitals, One Russian Oligarch: How Oleg Deripaska Is Trying to Escape U.S. Sanctions

This spring, a British lord with deep ties to the governing Conservative Party and a reputation as a do-gooder environmentalist arrived in Washington on an unlikely mission: to save the business empire of Oleg Deripaska, one of Russia’s most infamous oligarchs.

Mr. Deripaska was in deep trouble. In April, the Trump administration had announced sanctions on oligarchs close to President Vladimir V. Putin, and on their companies, as punishment for Russian interference in the 2016 presidential election and for other hostile acts. A billionaire who controls the world’s second-largest aluminum company, Mr. Deripaska faced possible ruin. (Read more….)

Oman Air launches new service to Moscow

Oman Air has commenced its new daily direct service between Russia and Oman, with its first flight departing Muscat International Airport to Moscow Domodedovo Airport on October 30.

The inaugural flight, WY 181 departed Muscat International Airport at 14:55 after a cake cutting ceremony. The flight arrived in Moscow at 19:55. With a flight time of 5 hours and 35 minutes, WY182 departs Moscow Domodedovo Airport at 00.20, arriving into the award-winning new passenger terminal at Muscat International Airport at 06.55 on October 31. (Read more….)

Russian search engine Yandex trumpets fastest growth in six years

Russia’s biggest internet search engine Yandex has registered its fastest growth in six years, it said on Monday as the company raised its 2018 revenue forecast, lifting its share price by almost 8 percent.

The company, which competes with Google and Mail.Ru, said it expects 2018 revenue to grow by 35-38 percent in rouble terms, up from a previous forecast of 30-35 percent.

With more than 20 offices globally, the group’s services include taxis, food delivery and a ride-sharing business with San Francisco-based Uber. [UBER.UL] (Read more….)

Greater funding and focus put Russia firmly on the map in digital healthcare

Russia’s arrival as a major player in the digitalisation of healthcare was abundantly clear at a Moscow event held to celebrate and stimulate advances in the sector. The narrative at Friday’s Digital Pharma Conference was a familiar one for many observers of this space internationally – a story of enormous potential and demand that is creating fast growth and improved outcomes for patients.

Russia’s digital economy grew last year by 59%, while the country’s economy as a whole achieved growth of 7%. What makes this rate of growth remarkable is that access to funding to support tech projects has not been widely available until relatively recently in Russia. (Read more….)

Russia to attract foreign investment with comfortable working conditions: Putin

Russia aims to create the most comfortable conditions for foreign, including Italian, investment, Russian President Vladimir Putin said Wednesday.

“Administrative regulation is simplified and modern infrastructure is being created. Serious preferences are provided to investors in some regions,” Putin said at a Moscow meeting with visiting Italian Prime Minister Giuseppe Conte and heads of Italian companies in Russia. He said that Russia experienced positive economic tendencies, including industrial expansion in the first nine months of the year as well as low inflation and unemployment rate. Russia’s gold and foreign currency reserves also increased this year. (Read more….)

Moscow Bitcoin Boutique Speaks on Business and Russian Regulation

A physical store in Central Moscow looks like a miniature version of the New York Stock Exchange (NYSE). Except, the store doesn’t list stocks on its trading screens; it lists Bitcoin and other cryptocurrencies.

DeeCrypto has been in business since seven-months but is more than just a place that lets members exchange virtual currencies in a physical world. The two-floor store is an offline seller of crypto mining equipment, similar to those Apple physical stores that sell the company’s iPhones, MacBooks, iPads, and whatnot. It even got shelves full of crypto products and merchandises, ranging from physical wallets to Bitcoin logo t-shirts.

The place had seen its days of glory when the prices of Bitcoin and other digital currencies were shooting towards the moon. But since the crash, the progress came to a halt, reports Business Times. (Read more….)

Blockchain Hackathon Set For Moscow In November

DECENT’s fifth instance of the Blockchain Pioneers Hackathon global series will be held for the first time in Moscow, Russia. The theme selected for DECENT’s hackathon involves using the benefits of blockchain to make a positive impact on society. The prize for the winning team has been set at 20,000 DCT, plus a mentorship opportunity from DECENT.

Hackathons are coding marathons which involve top-tier developer talent attempting to create a working prototype from a unique idea or project in a very short time period. Blockchain hackathons showcase innovative new uses for the technology with the aim to produce a project which has grounds to become a full-blown success in the industry.

DECENT’s three-day Blockchain Pioneers Hackathon will take place in the “Tablitsa” co-working space at Novoslobodskaya street 16, Moscow, Russia, from November 16 to 18.(Read more….)

Russian firms test non-dollar deals to sidestep any U.S. sanctions

Several major Russian companies are exploring ways to do deals abroad without using dollars, spurred on by a U.S. threat to broaden sanctions that have impeded access of some Russian firms to the international banking system.

The Kremlin has been pushing companies to conduct more deals using other currencies to reduce reliance on the dollar.

Russian Alrosa, the world’s biggest producer of rough diamonds in carat terms, said it had completed a pilot deal with a Chinese client using yuan in the summer and another non-dollar transaction with an Indian client. (Read more…)

Russia’s Silicon Valley Looks To China For Capital, Impact

At the Open Innovations Forum this week in Moscow, Russia and China linked up to further boost Skolkovo Ventures, an investment offshoot of Russia’s Silicon Valley mega tech project Skolkovo on the outskirts of the city. The high-tech park sports an ultra-modern huge convention space, a conference arena for high-level meetings, a science and tech university and a slew of facilities under construction as Skolkovo evolves.

The Russian-China Investment Fund for Regional Development has just signed on as an anchor investor in two new funds at Skolkovo Ventures with the sum of $300 million (Read more….)