DIRS.INFO The most relevant business & tech news

☆ Hyundai finalizes Russia exit as local firm buys its two car plants
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: +2 min

Hyundai on Friday said it had signed a deal to sell its two Russian plants, making the South Korean firm the latest global carmaker to exit Russia since the Ukraine conflict began. Hyundai Motor said in December it planned to sell its Russian assets for 10,000 roubles ($111.69), taking a 287 billion won ($214.7 million) loss. Art-Finance is owned by Andrei Pavlovich, who acquired Volkswagen's Russian assets in May 2023. Volkswagen's factory was renamed to AGR Automotive. Hyundai in December said it planned to continue operating post-sales services for existing vehicles in consideration of local conditions in Russia.

Persons: Andrei Pavlovich, Volkswagen's Organizations: Hyundai, Art, Finance, Motors, AGR Automotive Locations: Korean, Russia, Ukraine, Hyundai's St, Petersburg, Russian, Moscow, St Petersburg

☆ Russia lifts ban on most diesel exports
▼ + stars: | 2023-10-06 | by ( Vladimir Soldatkin | ) www.reuters.com time to read: +3 min

REUTERS/Murad Sezer/File photo Acquire Licensing RightsSummary Russia lifts ban on diesel exports via portsDiesel accounts for the biggest share of Russia's fuel exportsRussia hikes fuel exports duties for resellersDamper payments are reinstalledMOSCOW, Oct 6 (Reuters) - Russia's government said on Friday it had lifted a ban on pipeline diesel exports via ports, removing the bulk of restrictions installed on Sept. 21. The restrictions for gasoline exports are still in place. "The government lifted restrictions on exports of diesel fuel delivered to seaports by pipeline, provided that the manufacturer supplies at least 50% of the produced diesel fuel to the domestic market," the government said in a statement. Russia has been tackling shortages and high fuel prices in recent months, which especially hurt farmers during the harvesting season. Since the ban was introduced, wholesale diesel prices on the local exchange have fallen by 21%, while gasoline prices are down 10%.

Persons: Don, Murad Sezer, Alexander Novak, Vladimir Putin's, Vladimir Soldatkin, Guy Faulconbridge, Jan Harvey Organizations: Turkish Navy Coast Guard, REUTERS, Diesel, European Union, Federal, Monopoly Service, Thomson Locations: Rostov, Istanbul, Turkey, Russia, MOSCOW, U.S, Ukraine, Europe, Brazil, North, West, Gulf, East

☆ Russian court rejects Apple appeal against abuse of dominant market position - RIA
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo Acquire Licensing RightsCompaniesLaw Firms Apple Inc FollowOct 3 (Reuters) - A Russian court rejected Apple's (AAPL.O) appeal against the alleged abuse of its dominant market position in terms of in-app payments, for which it was fined 1.2 billion roubles ($12.1 million) in January, the RIA news agency reported on Tuesday. Russia's federal anti-monopoly service (FAS) fined Apple in January over what it said was the U.S. company's abuse of its dominant market position. In a statement, the regulator said it had previously found that Apple forced Russian developers to use Apple's payment services with the iOS App Store, in violation of Russia's competition rules. The FAS's decision entered legal force in May after it was approved by a Moscow court, RIA reported.

Persons: Mike Segar, Apple's, Apple, Mark Trevelyan Organizations: Apple, REUTERS, FAS, Reuters, Thomson Locations: Manhattan, New York City, federal, U.S, Russian, Moscow

☆ Russia's gasoline, diesel prices continue to slide after export ban
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

A view shows petrol pump nozzles at a fuel station of Neftmagistral company in Moscow, Russia, September 8, 2023. Diesel prices were down 4.97% on the day at 59,130 roubles per ton according to the data from the St. Petersburg International Mercantile Exchange (SPIMEX). Russian Deputy Prime Minister Alexander Novak said on Saturday that the fuel export ban started to produce positive results with a decline in gasoline and diesel prices. Russia's Federal Anti-Monopoly Service opened last week six cases looking into violations of the fuel market. ($1 = 98.7850 roubles)Reporting by Alexander Ershov; writing by Vladimir Soldatkin, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim, Alexander Novak, Alexander Ershov, Vladimir Soldatkin, Ed Osmond Organizations: REUTERS, Rights, St . Petersburg International Mercantile Exchange, Monopoly Service, Thomson Locations: Moscow, Russia, St, Russian, Federal

☆ Russia fines Apple for not deleting 'inaccurate' content on Ukraine conflict
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

An Apple logo is seen at the entrance of an Apple Store in downtown Brussels, Belgium March 10, 2016. REUTERS/Yves Herman/File PhotoSummaryCompanies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 3 (Reuters) - A Moscow court fined Apple (AAPL.O) 400,000 roubles ($4,274) on Thursday for not deleting "inaccurate" content about what Russia calls a "special military operation" in Ukraine, Russian news agencies reported. The TASS news agency said it was the first time Apple had been fined for that offence. The company paused all product sales in Russia shortly after Moscow sent tens of thousands of troops into Ukraine in February 2022, and limited its Apple Pay service in Russia. Moscow has clashed with Big Tech for years over content, censorship, data and local representation in disputes that escalated after Russia sent its armed forces into Ukraine.

Persons: Yves Herman, Apple, Alexander Marrow, Gareth Jones Organizations: Apple, REUTERS, Russia, TASS, Big Tech, Federal Antimonopoly Service, FAS, Wikimedia Foundation, Reuters, Thomson Locations: Brussels, Belgium, Russia, Ukraine MOSCOW, Moscow, Ukraine, Russian

☆ Apple pays $12.1 mln fine for alleged app market abuse in Russia - Antimonopoly Service
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Feb 27 (Reuters) - U.S. tech giant Apple has paid a 906 million rouble ($12.12 million) fine in a Russian antitrust case alleging abuse of its dominance in the mobile apps market, Russia's Federal Antimonopoly Service (FAS) said on Monday. "Apple has paid a 906 million rouble antitrust fine," the FAS said in a statement on its Telegram channel. Apple had appealed the decision at various stages, but had been unsuccessful and ultimately complied with the order, the FAS said. Apple paused all product sales in Russia a year ago, after Moscow despatched its armed forces to Ukraine, and limited its Apple Pay service in Russia.

☆ Putin calls for price controls as Russian car sales crash to record low
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +3 min

[1/4] Hyundai cars are seen at a customs terminal on the outskirts of Saint Petersburg, Russia June 1, 2022. REUTERS/Anton VaganovMOSCOW, Nov 16 (Reuters) - President Vladimir Putin urged the Russian government on Wednesday to control car prices, as one industry head said Western sanctions could send annual sales crashing to below 1 million for the first time since records began. Manturov also proposed extending preferential car financing to military personnel, adding: "Today we can speak of an emerging trend towards a recovery of the industry." He said the number of cars sold in Russia would this year fall below 1 million, a first in modern history. Reporting by Caleb Davis and Gleb Stolyarov; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

☆ So many mobilized Russian reservists had buy their own military gear that thermal underwear now costs up to $340 and a hiking backpack costs as much as $600
▼ + stars: | 2022-10-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Russian reservists forced to buy their own gear are finding sky-high prices in stores, reports say. Some items like body armor vests cost up to 10 times than normal, one Russian news site wrote. Putin last month announced a mobilization of 300,000 Russian reservists to fight in Ukraine. Russian reservists have to buy their own suppliesThe buying frenzy started after Russian President Vladimir Putin announced in September that 300,000 reservists would be drafted to fight in the Ukraine war. The MOD added that the quality of the average Russian reservist's equipment now is far worse than what was provided to earlier Russian deployments.

☆ Prosus to sell Russian classifieds business Avito to Kismet for $2.4B
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 14 (Reuters) - Prosus (PRX.AS), the Dutch-based technology investor, said on Friday it has agreed to sell its Russian online marketplace Avito for 151 billion roubles ($2.46 billion), to Kismet Capital Group. The buyer, Russian investment firm Kismet, was founded by Ivan Tavrin, former CEO of telecoms company MegaFon. Several Western companies opting to exit the Russian market have taken significant financial losses in doing so. "Our goal has been to manage the sale of the business in a responsible and structured way," Naspers said in a statement. "We believe that this is best achieved through this deal.”Avito, Russia's largest online marketplace, has around 5,000 employees and 90 million users.

☆ Russian regulator says mobile operator MTS breached anti-monopoly laws
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

Prices for most goods and services rose sharply soon after Russia sent thousands of troops into Ukraine in February, sparking hefty Western sanctions. The Federal Antimonopoly Service (FAS) said MTS would have to lower prices to economically justified levels and pay a fine, the size of which would be determined after an investigation. "The adjustment of tariffs took into account the growth in costs of servicing telecoms infrastructure, which exceeds the growth of telecoms service revenues," MTS said in a statement. "In August, September and October 2022, MTS again raised the cost for these tariff plans," the FAS said. The FAS said MTS had not provided enough evidence of its costs.

Search resuls for: "Monopoly Service"

10 mentions found