Page 8 - bne_newspaper_October_20_2017

The Regions This Week
October 20, 2017 www.intellinews.com I Page 8
Eastern Europe
Russian celebrity TV personality, journalist and socialite Xenia Sobchak announced she is go- ing to run for president in Russia's 2018 elec- tion. Sobchak will represent the "Against All" vote option, which was removed from the elections
in 2006, because it nearly won. However, she is widely seen as a Kremlin stooge.
Meanwhile, genuine Russian opposition leader Alexey Navalny was banned from running in the presidential election not only in 2018, but also in 2024. Navalny sent shockwaves through the Kremlin by organising a series of mass rallies in Russia’s regions in the spring and summer that were made remarkable by the large numbers of young people that attended.
The Russian government agreed to allow four selected Turkish producers to export a total of 50,000 tonnes of tomatoes to Russia starting from December 1. Russia banned Turkish toma- toes after the Turkish air force downed a Russian fighter-bomber in November 2015.
The National Bank of Ukraine (NBU) forbade lo- cal banks use Russian RUB200 banknotes. The notes have images of landmarks in the Crimea, which Russia annexed in 2014.
Russia brought in the biggest harvest in the last 100 years; 132mn tonnes of grain has been brought in so far in 2017, Prime Minister Dmitry Medvedev said. This already beats the previous estimate of 127mn tonnes and is well ahead of last year’s bumper 120.7mn tonnes, and only just behind the Soviet all time high of 133mn tonnes set in the 70’s.
Nestle will invest CHF30mn ($30.8mn) in
the first infant formula plant in Russia, the global food major said. Nestle said last year that it already sources 90% of its food inputs in Russia for the food it sells in the country.
Ukrainian President Petro Poroshenko submit- ted a bill to cancel deputies’ immunity from prosecution from early 2020 as opposition leaders held a 4,500 person demonstration outside the parliament building to complain about the slow pace of reforms. Former Odessa governor and ex-Georgian president Mikheil Saakashvili was amongst the speakers and protestors erected tents in an echo of the various Maidan demon- strations.
Belarus’ GDP increased by 1.7% year-on-year in January-September following 1.6 y/y growth in January-August, Prime Minister Andrei Kobyakov said. The IMF has revised its forecast for Belarus' GDP this year upwards to 0.7% growth vs the ear- lier expectation of a contraction.
The sales of smartphones sold online in Russia hit an all-time record high in the third quarter of 2017 of 880,000 units or RUB13.5bn ($235mn), up by 41%-42% year-on-year.
Investment flows among Eurasian Economic Union member countries leapt by 15.9% in 2016 after three consecutive years of decline. The year saw total mutual FDI stock within the bloc reach $26.8bn, says a new report from the Eurasian Development Bank.
The Russia government announced the first pro- ject based on blockchain technology – convert- ing the land and property registry of all Moscow property to a blockchain. The pilot project will run from January to July 2018 and then be assessed. Russia is also considering introducing its own virtual coin, the cryptoruble.
Retail sales were up and incomes continue to re- cover as Russia’s consumers return as a modest force for economic recovery. Growth in Russia’s retail sales accelerated from 1.9% y/y in August to 3.1% y/y in September.