The Russian Direct Investment Fund announced today its joint venture with Baring Vostok Private Equity Fund V to invest in a coking coal business Tigers Realm Coal Limited.
Russia
European travel startups Excursiopedia and Travelatus merge
Munich, Germany-based travel marketplace Excursiopedia has added Moscow, Russia-based startup Travelatus in an effort to become a leader in the international travel industry and help travelers find local activities.
Russia to invest €5B in Serbia's energy sector
Russia is prepared to invest more than €5 billion in Serbia to back projects centered in the energy and production sectors including lubricant refining, and plant reconstruction projects.
Russia extends $15B bailout package to Ukraine
The state of Russia under President Vladimir Putin agreed to acquire $15 billion worth of Ukrainian Eurobonds to help the beleaguered country of Ukraine out of a potential currency crisis, according to a Reuters report.
Central bank of Russia shuts down Investbank, two more in criminal activity crackdown
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
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The OAO Moscow Exchange is considering to extend its bourse's trading hours after the elimination of winter time in Russia saw the reduction of the country's trading volumes.
Russian state-controlled telecom firm Rostelecom could sell up to RUB46 billion (USD1.4 billion) worth of shares in a secondary stock offering next year to help cut its debt.
A study featured on Forbes revealed that the US still leads around the world in providing entrepreneurs with access to venture capital funding.
Facebook Inc had been tapping resources of its Russian partners to develop apps, signaling a growth in the tech industry, particularly in the app development business.
Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.
According to third quarter results released by Russian bank VTB Group, the bank already sold a 50% stake in Tele2 that it acquired earlier in April this year for RUB40.4 billion or USD1.2 billion.
Russian businessman Alexei Khotin could make a takeover offer for London-listed Exillon Energy Plc, a company controlled by Khotin said, setting the stage for a possible bidding war with the oil producer's second-largest investor.
Russia-based platform for publishing and viewing educational content BeSmart.net will receive USD4 million in total investment over the next three years from Hong Kong's Education Matrix.
Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.
