Maria SantosFashion
Bangladesh Garment Shipments to Russia Drop to $257 Million
Payment blocks and indirect transit routes cut Bangladeshi apparel exports to Russia by 61 percent, leaving suppliers chasing over $1 billion in trapped dues.
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Russia
Every story tagged Russia on RetailNews Asia: reporting, analysis and market signals from across Asian retail and e-commerce.
Stories tagged Russia
41 stories in this topic
Sarah ChenFashion
Fashion Leaders from over 60 Countries Gather in Moscow for BRICS+ Summit
Held alongside Moscow Fashion Week from Sept. 28 to 30, the gathering connects industry delegations from across Asia, Africa, and the Arab world.
Rajiv MenonFood
Black Sea Tensions Threaten Asian Food Supply Chains, Embassy Warns
Disruptions to Black Sea and Sea of Azov shipping, including attacks on civilian vessels and logistics infrastructure, are increasing global food prices and supply costs for Asia-Pacific nations, according to a Russian Embassy statement.
Aiko TanakaFinance
Russia Strikes Gold: Historic Peak of $310.72 Billion Shakes Up Global Rankings
Russia’s gold reserves have reached a record-breaking value of US$310.72 billion, a significant increase of 57% from the previous year. According to data released by the Central Bank of Russia as of November 30th, this marks the fourth consecutive month of…
Wei ZhangGeneral
WinMart Debuts Exciting Russia Corner Shopping Experience in Hanoi
On June 12, in a vibrant celebration coinciding with Russia Day, WinCommerce unveiled its latest venture—Russia Corner—at the WinMart Royal City in Hanoi. This dynamic space is the brainchild of WinCommerce, the operators behind the WinMart and WinMart+…
Rajiv MenonAutomotive
Honda To Pull The Plug On Car Sales In Russia In 2022
Honda Motor Company has said that it won’t be supplying new cars to its authorized dealers in Russia in 2022 as the company is trying to restructure its operations. The Japanese automaker has confirmed that it would keep its presence in the Russian market…
Sarah ChenElectronics
Apple has paid $12.12 million to Russia for antitrust practices, another fine is pending
Apple’s decision to stop product sales in Russia over the war in Ukraine has not saved the company expenses, stemming from the multiple antitrust investigations that are going on. One of them has reportedly concluded with a $12.12 million fine over the…
Minjun ParkFinance
Citi Shutting Consumer and Commercial Units in Russia
After failing to find buyers, Citi has decided to close its consumer and commercial banking businesses in Russia. Citi will shut down its Russian consumer and commercial banking businesses starting this quarter, it said in a statement Thursday. The closure…
Rajiv MenonFinance
UBS Retreats From Russia in Small Steps
Following Russia’s invasion of Ukraine, UBS reduced its exposure to the country and continues to do so. As a result of sanctions imposed against Russia by various jurisdictions including the US, EU, UK, and Switzerland, among others, UBS said it is not…
Sarah ChenGeneral
India’s Imports Of Cheap Russian Crude Surge Since Ukraine Invasion
India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of…
Aiko TanakaFinance
Mastercard focuses on Southeast Asia, LatAm after India ban, Russia exit
Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from Russia in March and India’s 2021 ban on it from issuing new cards, the company’s co-president for international markets said. “Southeast Asia is exciting (due…
Wei ZhangFood
The enormous cost of McDonald’s Russian exit
McDonald’s became the symbol of glasnost in action 30 years ago when it opened its first restaurant in Moscow. But after temporarily shutting down more than 800 restaurants following the invasion of Ukraine, McDonald’s has decided to leave Russia altogether.…
Aiko TanakaAutomotive
Renault Group Signs Agreement To Sell Russia Operations, Avtovaz Stake
Renault has announced that it has signed an agreement to sell its entire 100 percent stake in Renault Russia along with its controlling stake in Russian firm Avtovaz. The company said that Renault Russia would be turned over to Moscow City entity while its…
Rajiv MenonFood
Rice exports to Russia jump in Q1
Vietnam’s rice exports surged 2.6 times year-on-year to over US$553,000 in Q1, according to Vietnam Customs. The grain was one of Vietnam’s few exports to Russia that increased in the first quarter as the Russia-Ukraine crisis impacted other suppliers. It was…
Minjun ParkFinance
The Russian Bank That Escaped Sanctions So Far
Tinkoff Bank has so far avoided being sanctioned as its founder and Putin critic Oleg Tinkov stayed in an orbit neither too close nor far from the Kremlin. The Russian bank Tinkoff has avoided being directly caught in sanctions that hit rival banks such as…
Maria SantosFashion
As western retail brands exit, Russia looks east for replacements
Russia is looking to China, India, Iran and Turkey to plug the gap created by an exodus of western retail companies, an industry body said on Friday, as Moscow grapples to find ways to combat its growing isolation in the face of sanctions. The Russian Council…