Hungarian government mulls raising subsidy for cheaper EVs

bne IntelliNews February 21, 2020

Hungary is planning to beef up subsidies for electric vehicles and talks are on the way to increase subsidies for cheaper cars.

University of Tehran team’s Surena IV humanoid robot can climb stairs

bne IntelliNews February 21, 2020

Robotics specialists showcase its "43 degrees of freedom".

German investor plans e-vehicle battery factory in western Romania

bne IntelliNews February 20, 2020

Draxlmaier plans to build the first battery factory for electric cars in Romania, where several other German auto-components producers are also planning investments.

AI investments in Romania forecast to double from current robust level

Iulian Ernst in Bucharest February 19, 2020

Significant investments in Romanian AI start-ups TypingDNA and Fintech OS in the final quarter of last year placed Romania among the leading countries in Eastern Europe.

Yandex bets on super-fast grocery delivery

Vladimir Kozlov in Moscow February 18, 2020

The Russian tech giant Yandex is taking on Russia’s supermarket chains by offering super-fast delivery service that promises to get groceries to your door in under 15 minutes.

Turkey ‘dicing with lira nightmare part II’

bne IntelliNews February 18, 2020

Chatham House analyst warns Erdogan administration has built “quick turnaround on vast amounts of cheap credit”, generating “a rapid growth spurt akin to a modestly able professional sprinter injected with steroids”.

Video streaming platform considers Nasdaq IPO this year

EWDN in Moscow February 18, 2020

After receiving a $40mn capital injection last year, Russian online video company has plans to go public.

Moscow links 100,000 security cameras to powerful facial recognition system

EWDN in Moscow February 18, 2020

Dmitry Golovin, who leads the Moscow IT Department’s video surveillance division, has revealed during a forum called Security Technologies that 105,000 of the city’s security cameras are connected to a facial recognition system.

From politics, to PR, to venture: How a young Russian woman made her way to Silicon Valley

Adrien Henni in Paris for East West Digital News February 18, 2020

Masha Drokova once kissed Putin when she was a leader of “Nashi,” a pro-government Russian youth movement. Now she is a darling of VC funds in Silicon Valley

Founder of fintech firm Revolut Perestersky becomes Russia’s latest tech billionaire

Ben Aris in Berlin February 17, 2020

Revolut has just completed another round of financing and raised $500mn to fund further expansion, bringing its overall valuation to $6bn.

Samsung shuts Iranians out of paid app areas of Galaxy Store

bne IntelliNews February 13, 2020

Biggest provider of smartphones in Iran makes belated response to US sanctions following moves by Apple and Google.

Turkish rapid delivery groceries start-up Getir ‘in talks to raise additional $100mn in funding’

Akin Nazli in Belgrade February 10, 2020

Company plans to expand to UK, South America. Co-founder of Russia's leading internet company Yandex, Arkady Volozh, has invested personal funds in the enterprise.

Online sales up 22% y/y in Romania last year

bne IntelliNews February 10, 2020

Russia’s TCS Group ventures into fintech in Europe

bne IntelliNews February 7, 2020

Leading Russian consumer lender TCS Group, which operates Russia’s only pure online bank Tinkoff, will invest in the fintech project launched in Europe by two of its managers.

WeShare to enter Budapest, Prague car-sharing markets

bne IntelliNews February 5, 2020

WeShare launched in Berlin last June and will expand to seven other cities this year, with plans to deploy 8,400 electric vehicles.

Brexit pushes money app Revolut to shift payment operations to Ireland and Lithuania

bne IntelliNews February 4, 2020

Revolut will use its Lithuanian banking licence, obtained in 2018, to serve customers in Central and Eastern Europe.

Russia to start developing its own 5G equipment

bne IntelliNews February 4, 2020

The Kremlin chose unpopular frequencies for 5G rollout to drive home-made infrastructure development and could enforce the use of domestically produced servers.

Russian VTB Bank launches online car marketplace

bne IntelliNews February 4, 2020

Russia’s second-largest bank launched the online car marketplace in partnership with ILSA, an aggregator of 871 official dealers in 71 Russian cities.

Czech online food shop begins operation in Hungary

Tamas Szilagyi in Budapest January 28, 2020

Hungary is the first market outside the Czech Republic for the group, which wants to expand to new markets in the future.

Romanian telecom group Digi issues €800mn bonds to refinance its debt

Iulian Ernst in Bucharest January 28, 2020

Digi has already initiated total repayment of its €550mn bonds maturing in 2023, and aims to repay two other loans in advance.