Page 11 - bne_newspaper_July_13_2018

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July 13, 2018 www.intellinews.com I Page 11
“Inflation in non-food goods continued to rise – the latter may be a sign that the fall in the ruble in April may be having a lagged impact on inflation. Rosstat’s measure of core infla- tion, which also includes some food products, rose from 2.0% y/y to 2.3% y/y,” Capital Eco- nomics reports.
But the big unknown for the rest of the year will be how big an impact June’s VAT hike will be. Analysts are expecting inflation to climb back to around 4% by next year and also the CBR will slow its monetary easing in anticipa- tion of the increased inflationary pressure from the tax hike.
“It was clear from last month’s central bank Board meeting that the VAT hike due to come in to force at the start of next year has limited the scope for monetary easing. Some of the trends seen in today’s data are likely to reinforce policymakers’ somewhat more hawkish shift,” Capital Economics said in a note.
“However, this doesn’t rule out a resumption of the easing cycle – the headline rate is still very low (and may even fall further in July) and spare economic capacity will keep a lid on underlying price pressures. We still think the policy rate will be cut to 6.00% by early 2020, from 7.25% now.”
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May, 2018 www.intellinews.com @bneintellinews
Avast to enter London bourse in bid to raise up to $1bn Jaroslav Hroch in Prague
Avast, which owns the popular consumer antivirus company AVG, will apply to list its shares on the London Stock Exchange in the hope of raising $200mn (CZK4.1bn) in primary proceeds from an IPO, the Czech-founded company announced on April 12.
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St Petersburg's start-up scene flourishes on high talent and low costs
Contents
Avast to enter London bourse
in bid to raise up to $1bn 1 Avast to enter London bourse in bid to raise up to $1bn 2 St Petersburg's start-up scene
flourishes on high talent and low costs 3 Romania entrepreneur aims to put home-grown UAV defence technology industry on the map 6
FinTech
Russia's mobile major MTS increases stake in Ozon to 16.7% 9
Blockchain
Romanian startups at the heart
of blockchain energy trading rally 10
Central Europe
Russian-Lithuanian startup Gosu.ai
raises $1.9mn from Russian and
French investors 13
Eurasia
Iran hit by cyber attack that left US
flag on screens 14 Iranian government set to block hugely popular Telegram messaging app 15 Iran's black market phone disconnection drive pushes up legal mobile imports 15
Eastern Europe
Internet catches up with TV on Russian
ad market 17 Sales of connected appliances jump
in Russia 17 Russia's HeadHunter Group seeks
to raise $250mn with NASDAQ IPO 18 Russia ranks second in the world
for digital piracy 18 Russian messaging service Telegram raised another $850mn with ICO 19
Southeast Europe
Russia's HeadHunter Group seeks
to raise $250mn with NASDAQ IPO 20
The Regions This Month 21
Filip Brokes in St Petersburg
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