VIENNA – In a move signaling a careful balancing act between supporting prices and stabilizing markets, eight OPEC+ member countries agreed on Sunday to a small increase in oil output next month before implementing a historic pause on production changes for the entirety of 2025 and the first quarter of 2026. According to a statement from…
Yandex NV, the Dutch parent of Russia’s leading tech company, has agreed to sell its core business in Russia to its local managers, oil giant Lukoil and other investors for $5 billion, half of its market value before the war. The deal is one of the largest exits of Western companies from Russia since President…
LIMASSOL, CYPRUS: TCS Group Holding (Tinkoff Group), the provider of online financial and lifestyle services via its Tinkoff SuperApp, announces the appointment of Oliver Hughes and Pavel Fedorov as co-CEOs of Tinkoff Group. The announcement came in light of the continued rapid growth of its Russian business, the launch of multiple new business lines and…
MOSCOW: X5 Retail Group became the largest digital company in the Russian online food retail segment in 2020, according to Infoline. X5’s online GMV1 for FY 2020 totalled RUB 21.9 billion (including VAT); this includes RUB 15.0 billion from the online hypermarket Vprok and RUB 6.9 billion from express delivery services from X5’s Pyaterochka and…