Albania considers TikTok, Snapchat ban after fatal school stabbing
1 day ago
One of Russia’s big three e-commerce company says it is sticking with its forecast for turnover growth of 80% this year, despite the sanctions and economic slowdown, Tass reported on August 23.
E-commerce sites have benefited from the war as consumers have gone online to find goods that have disappeared from the stores after some 1,000 foreign brands pulled out of Russia.
Turnover at online retail sites is up 1.5-fold this year as the leading e-commerce companies actively organise parallel imports via “friendly nations.”
Ozon’s chief financial officer Igor Gerasimov presented its financial results for the second quarter and first six months of 2022 on August 23.
"We continue working on improvements of economic parameters and at the same time maintain our turnover growth forecast of at least 80% in this year," Gerasimov said during the presentation.
Ozon posted a 73% increase in revenues year on year to RUB122bn ($2bn) in the first half of 2022, but losses rose by 19% to RUB26.2bn ($435.7mn), the company said. The company’s financial standing has been hurt by the strong ruble as the imports of goods that have otherwise disappeared from the Russian market increase.
Related Content
Tech
Albania considers TikTok, Snapchat ban after fatal school stabbing
PM Edi Rama considers "drastic" measure after dispute that started on social media ended with stabbing.
Open-source code software: no easy solution for Russian companies
According to a recent study conducted by the Russian research group B1, 83% of companies in the country are either already using or planning to implement open-source solutions.
Alibaba's Trendyol opens regional logistics hub in Romania
Trendyol entered the Romanian market earlier this year to strengthen its position in Southeast Europe’s burgeoning e-commerce market.
Bulgaria’s INSAIT launches three new AI models
Institute develops new Bulgarian-language AI models it says deliver "unprecedented performance".
Top Uzbek e-commerce and fintech player Uzum posts $100mn in 9M24 net income
Express delivery service now significant revenue stream. Users represent third of Uzbekistan’s population.
Most Read
-
COMMENT: Turkmenistan, the isolationist black sheep of the five ‘Stans family
1 day ago
-
Putin answers US long-range missile permissions with a Russian ICBM
1 day ago
-
Austria agrees to lift veto on full Schengen accession for Bulgaria and Romania
22 hours ago
-
COMMENT: The EU’s Internal Security Framework is unfit for Cold War 2.0
2 days ago
-
Arab League backs Iraq's request for emergency meeting over Israeli threats
1 day ago
-
Russia’s economy is tougher than it looks, no chance of a crisis in the next 3-5 years – CASE
9 days ago
-
Aliyev roasts the West for double standards as COP29 goes off the rails
7 days ago
-
Russia ready to start peace talks in January, willing to make some “limited” concessions
3 days ago
-
G20 summit wraps up with a joint statement strong on sentiment, but short on specifics
4 days ago
-
North Korea ready to send 100,000 troops to support Russia’s war in Ukraine
5 days ago
-
What would a Trump win mean for Latin America?
18 days ago
-
LONG READ: Georgian Dream’s hold over rural areas won it the election
20 days ago
-
Mass protest in Serbia’s Novi Sad over deadly station canopy collapse turns violent
17 days ago
-
Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
5 months ago
-
Russia overtakes Germany to become fifth biggest economy in the world in GDP on a PPP basis
1 year ago