Page 66 - RUSRptAug18

9.1.6 Agriculture sector news
The European Union has introduced a complete ban on Russian poultry due to outbreaks of bird flu , Tass reported on July 16 citing sanitary watchdog Rosselkhoznadzor. The ban is reportedly temporary and does not include cooked meat. Currently out of 18 Russian poultry exporters with access to the EU market, the largest companies Cherkizovo and Damante are figthing bird flu outbreaks in the Rostov, Kursk, Samara, Orlov, and Penza regions. Another market leader Eurodon has also had bird flu outbreaks at two out of its 24 turkey farms, Interfax and Vedomosti daily reported on July 16. Last time the company faced outbreaks in 2016 and 2017 it lost over 1mn birds which led to RUB2.6bn ($42mn) damages.
9.1.7 TMT sector news
The Russian state atomic energy corporation Rosatom announced in June that it set up a venture fund with RUB3bn ($47.5mn at the current exchange rate), along with other limited partners (LPs), christened Digital Evolution Ventures, reports East-West Digital News (EWDN). The fund will focus on business solutions for a range of promising industries, not only nuclear related, Evgeny Kuznetsov, general director of the fund’s managing company Orbita Capital Partners, told EWDN. The fund will target early and seed-stage startups, as well as more mature companies in the fields of artificial intelligence, digital solutions for industry and service applications, renewable and smart energy, 3D printing and new materials, as well as development systems for smart and energy-efficient cities.
Damage from cybercrimes in Russia in 2018 could amount to RUB1.1 trillion ($17.4bn), deputy head of Russia's largest bank Sberbank Stanislav Kuznetsov estimated, as cited by Tass. The global economic cybercrime damage is estimated at $1.5 trillion. The estimate increased as compared to 2017, when Sberbank put the cybercrime losses of the economy at RUB600bn-650bn. The number will keep on growing, Kuznetsov warned, suggesting that legislation needs to catch up with cybercrime realities, forces combatting cybercrime need more staff, and outdated technologies must be replaced. Sberbank is at the forefront of digital economy development in Russia, keeping a stable rollout of innovations under its digitally-driven strategy .
Russia's State Duma accepted a bill on regulation of internet aggregators of goods and services and their responsibilities to consumers in the second reading on June 17. Russia's digital economy is booming, with the largest players developing ambitious marketplace and eco-systems projects, such as the joint venture between Sberbank and Yandex.Market, and possible alliance between VTB Bank and Chinese Alibaba. The new legislation clarifies the definition of the "owner" of the aggregator as one controlling the respective software and websites. While the aggregator is responsible for any misleading information on goods and services provided to consumers, it is not responsible for any claims should the information be transmitted from third parties in full and with no modifications. The consumers also gain the right to a 10-day refund should the goods and services providers fail to deliver on the purchase.
The crowdfunding market in Russia in the first three months of 2018 exceeded RUB2.33bn ($37mn), jumping 1.6-fold year-on-year with
66 RUSSIA Country Report August 2018 www.intellinews.com