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    Russian Economy General News: #13

    Kiko
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    Russian Economy General News: #13 - Page 3 Empty Re: Russian Economy General News: #13

    Post  Kiko Tue Oct 11, 2022 9:32 pm

    Why Gazprom shares fell, by Olga Samofalova for VZGLYAD. 10.11.2022.

    Those who want to make money on Gazprom collapsed its value.

    Shares of the most important player on the Russian stock market - Gazprom - collapsed by more than 20% on Monday. The Russian stock market followed, too, flew down. All this is explained by the fact that Gazprom is preparing to pay out record dividends in its history. And naturally, there were more people who wanted to run into the last car and become a shareholder of the company. Will Gazprom be able to return to the previous value?

    On Monday, immediately with the start of trading, Gazprom's shares began to fall by 30%. It was possible to stop this collapse due to the announcement of the Moscow Exchange from 10.15 Moscow time of a discrete auction for Gazprom shares.

    The main reason is the dividend cutoff. What it is? It is worth clarifying that on September 30, the shareholders' meeting approved the decision to pay record dividends for the first half of 2022 - 51.3 rubles per share. This is about 26% of the closing price of the evening session of the Moscow Exchange on Friday. We are talking about the payment of 1.208 trillion rubles.

    An important question is who exactly will receive the dividends. “The dividend cutoff is the date by which you need to buy a company's shares in order to be included in the shareholder register and receive the right to pay dividends from the company,” explains Vladimir Chernov, an analyst at Freedom Finance Global. In the case of Gazprom, the deadline for buying shares to receive dividends was Friday 7 October, and the final list of shareholders will be drawn up on 11 October when the register closes.

    It is logical that many tried to buy Gazprom shares on Friday just to get into the number of shareholders who received dividend payments.

    “And after getting into the register, shares are most often disposed of, since dividend payments are already guaranteed for these securities, and investors shift investments into other securities. That is why, after the dividend cutoff, stocks usually become cheaper by the amount of the dividends themselves. This is exactly what happened this time, only with a dividend yield of 26%, Gazprom shares at a minimum fell by 29%,” says Chernov.

    That is, it was the closing of the register of shareholders that collapsed the company's shares, and this happens absolutely always, the expert adds.

    But will Gazprom's quotes return to their previous values? Gazprom shares began to recover in the afternoon, and they even managed to offset part of the morning's decline. However, it will be difficult for Gazprom to return to Friday's figures.

    “Sometimes quotes rise to their previous values ​​within a month, and sometimes they continue to decline, everything will depend on the future prospects of the company itself. I believe that the recovery of Gazprom shares to their previous values ​​may be delayed.

    It is quite possible that the dividend gap (the gap between the closing price of Friday, October 7 and the opening of trading on October 10) will not be closed this year,” Chernov believes.

    The precedent set for blowing up two Nord Streams, attempts of sabotage by Ukraine against the Turkish Stream and the terrorist attack on the Crimean bridge only exacerbate the geopolitical situation.

    “Unless there is a significant improvement in the geopolitical situation, it will be difficult for Gazprom shares to close the dividend gap in the coming months. The company is suffering from the loss of the European market, an increase in the tax burden and a rather slow reorientation to China. Due to these factors, dividends for the second half of the year may amount to 10-15 rubles per share, and for 2023 - 10-20 rubles, which, in our opinion, is not attractive enough for a quick recovery in quotations, ”expects Sergey Kaufman, analyst FG "Finam".

    Simultaneously with the geopolitical events, news came that the Swiss subsidiary of Gazprombank was curtailing all operations in this country. Switzerland purchases gas from export sites in Germany, France, the Netherlands and Italy. However, the risks of non-payment are not yet discussed.

    “The curtailment of the Swiss subsidiary, in our opinion, will not affect gas exports in any way. In order to have problems with paying for gas supplies, it is necessary to disconnect Gazprombank from SWIFT. But even if this measure is applied to pay for gas supplies, we believe that a special exception will be made - it makes no sense for the EU to shoot itself in the foot in this way, ”says Kaufman. Rather, the EU will have problems not with payment, but with a physical shortage of gas in winter, he believes.

    It is worth noting the influence of Gazprom on the entire Russian stock market. Gazprom shares make up about 15% of the Moscow Exchange index, so their decline has affected the entire market.

    “Gazprom is the most important player in the Russian stock market, as it is the leader of the Russian stock market in terms of capitalization – at the beginning of September 2022, it grew to $102 billion. In previous years, its shares in investors' portfolios could reach 40–50% of the entire portfolio, so its influence on the market itself is great, and stock indices react most of all to changes in Gazprom's share prices,” says Chernov.

    By the close of the main trading session, the Moscow Exchange Index showed a decrease of 1.43%, to 1916.97 points, the RTS dollar index - by 4.1%, to 963.88 points.

    https://vz.ru/economy/2022/10/11/1181603.html

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    Russian Economy General News: #13 - Page 3 Empty Re: Russian Economy General News: #13

    Post  Kiko Thu Oct 13, 2022 8:37 pm

    Russia may become the main exporter of sunflower oil in the world, 10.13.2022.

    In addition to wheat, Russia may become the world's number one exporter of sunflower oil. This was stated by Prime Minister Mikhail Mishustin at a meeting of the Cabinet of Ministers.

    He recalled that last year the country ranked fifth in the supply of sunflower oil to the world market. This year, self-sufficiency in these products will exceed 200%. This is more than double the rate set in the Food Security Doctrine.

    State subsidies will help Russian farmers to remain competitive and profitable. The government will allocate 4.8 billion rubles to stimulate the production of oilseeds (soybean, rapeseed, sunflower, flax and other oilseeds) in 43 regions.

    For the second season in a row, record sunflower harvests are received in Russia. According to experts, this time it can reach 17 million tons - 7% more than last year. According to Mikhail Maltsev, director of the Fat and Oil Union, the oil and fat industry is ready to process both the fresh harvest and the large carry-over stocks of the last season. As a result, the production of sunflower oil will amount to more than 7 million tons, of which 4.7 million tons will be exported. That is, the export of sunflower oil may increase by 70% compared to the previous season.

    "Taking into account the forecasts for a reduction in the volume of sales of sunflower oil to foreign markets from Ukraine, our main competitor, Russia can really seize the palm in the world market for the first time in many years," Maltsev calculates.

    He also says the industry is supporting government measures to encourage oilseeds. Given the current global market conditions, such support should be significantly increased, primarily for rapeseed producers, the expert believes.

    https://rg.ru/2022/10/13/rossiia-mozhet-stat-glavnym-eksporterom-podsolnechnogo-masla-v-mire.html

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    Post  Kiko Sat Oct 15, 2022 12:29 am

    **** them for stupidity:

     [size=32]The Ministry of Agriculture assessed the risks of Danone leaving the Russian market[/size][size], 10.14.2022.[/size]


    [size=32]The Russian factories of the Danone holding continue their activities as usual, jobs are saved, and products enter the Russian market, the Ministry of Agriculture said.[/size]



    [size=32]They also noted that the production of dairy products in Russia has been steadily growing in recent years. According to Rosstat, for 8 months of 2022, the production of drinking milk increased by 3.1% compared to the same period last year, butter - by 10.9%, cheese - by 3.1%.[/size]



    [size=32]Earlier it became known that Danone decided to leave the Russian market , considering this decision the best for staff, consumers and partners. Control over the company's Russian assets for the production of dairy and plant products will be transferred to other persons. But to whom and under what conditions this will be done, has not yet been reported.[/size]



    [size=32]https://rg.ru/2022/10/14/v-minselhoze-ocenili-riski-uhoda-danone-s-rossijskogo-rynka.html[/size]

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    Post  Kiko Mon Oct 24, 2022 1:33 am

    Valuable elements: Russian scientists have discovered a deposit of strategic metals on the Kola Peninsula, by Nadezhda Alekseeva and Ekaterina Klyko for RTRUSSIAN. 10.23.2022.

    Russian scientists, together with foreign colleagues, discovered a geological formation on the Kola Peninsula - a dike rich in rare earth elements. Experts have established that it was formed about 400 million years ago due to hot mantle flows moving from the base of the mantle to the surface of the Earth. According to scientists, the metals found in the dike are of strategic importance for the civil and defense industries.

    Scientists from the Institute of Geochemistry and Analytical Chemistry. IN AND. Vernadsky (GEOKHI) RAS, together with foreign colleagues, discovered a geological formation rich in rare strategic metals on the Kola Peninsula. Their concentration is higher than in similar super-large deposits. The discovery of geologists was reported to RT in the press service of the Ministry of Education and Science. The results of the study are published in the journal Lithos.

    According to scientists, the Kola alkaline-carbonatite province is located in the Murmansk region, with which the largest deposits of rare earth metals are associated, which are of strategic importance for the civil and defense industries. They fundamentally change the properties of materials. For example, adding a small amount of the rare earth scandium to aluminum alloys triples their strength and creates malleability.

    Rare earth elements are used in radio electronics, instrumentation, nuclear engineering, mechanical engineering, the chemical industry, and metallurgy. In particular, niobium is used in superconducting materials. Niobium alloys containing titanium and tin are used in MRI scanner magnets.

    Valuable elements are concentrated in dikes - this is how geologists call a vertical column of rock that can form as a result of the rise of molten magma from the bowels of the planet to the surface. 

    The dike discovered by scientists contains a very high concentration of rare earth metals. According to the authors of the work, the rock contains a significant amount of niobium, zirconium, barium, strontium, iron, titanium, as well as volatile components, which allow metallurgists to control the crystallization temperature and viscosity of alloys.

    All this is reflected in its (dykes. - RT ) mineral composition: the rock composing it consists of such extremely rare minerals as lamprophyllite, enigmatite, astrophyllite, nunkanbakhite,” said the head of the laboratory of geochemistry and ore content of alkaline magmatism of the GEOKHI RAS in an interview with RT , Academician of the Russian Academy of Sciences Leah Kogarko.

    Experts have determined that the age of the open geological formation is about 370 million years. The chemical composition of the dike indicates that it was formed by hot mantle flows moving from the base of the mantle to the Earth's surface.

    The discovery has not only practical, but also scientific significance. As Liya Kogarko explained, the uniqueness of the dike found lies in the fact that it is the result of the latest stage in the separation of alkaline magma into phases - its differentiation. The study of the geochemical composition of the rock will allow scientists to find out exactly how the process of concentration of rare elements in the cooling alkaline magma took place.

    https://russian.rt.com/science/article/1063636-uchyonye-issledovanie-magma-metally

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    Post  Kiko Fri Oct 28, 2022 8:01 pm

    ???
    The Bank of Russia kept the key rate at 7.5%, 10.28.2022.

    At the meeting of the Board of Directors on Friday, the Bank of Russia, as most analysts expected, did not change the level of the key rate.

    It was kept at the level of 7.5%. The current growth rate of consumer prices  remains  generally low, contributing to a further slowdown in annual inflation, the Bank of Russia points out. Signals on the further movement of the key rate of the Central Bank did not give again.

    Inflation

    Annual inflation is gradually slowing down, the Central Bank notes. "In  September, the annual growth rate of consumer prices  fell to  13.7% (after 14.3% in  August) and, according to an  estimate on October  21  , decreased to  12.9%.  Despite the  ongoing decline in annual inflation, inflationary expectations of the population and  businesses are at  an elevated level and  slightly increased  compared to the summer months," the rate release  says.

    The Bank of Russia predicts that  by the end of the current year, annual inflation will be  12-13% (previously, the Central Bank expected 11-13%).  In the revised forecast, the Bank of Russia took into account , among  other  things, the postponement of indexation of  housing and communal services tariffs from  July 2023 to  December 2022  . Further, the Bank of Russia expects annual inflation to fall to  5-7%  in  2023  and return to the  target of 4% in  2024.

    https://rg.ru/2022/10/28/bank-rossii-sohranil-kliuchevuiu-stavku-na-urovne-75.html

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    Post  kvs Fri Oct 28, 2022 8:49 pm

    When it comes to letting the CBR hobble the Russian economy, the Russian government is very keen. The clowns in the above
    article talk about annual inflation including the spike from March which is in the rear view mirror. So they are full of shit. Inflation
    in Russia was actually negative over the summer. This is what the prime interest rate should reflect.

    The number 7.5% is pulled straight from Nabiullina's ass. It has no dependence on anything.
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    Post  caveat emptor Fri Oct 28, 2022 9:19 pm

    I've expected further 50bps cut now or two 25bps cuts by the end of the year, based on inflation slowdown.
    But, Nabiulina is still in her pre-war mindset.
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    Post  franco Fri Oct 28, 2022 10:27 pm

    Russian central bank updates GDP and inflation forecasts

    Russia's economic contraction is expected to be much smaller than previously thought, according to the latest report by the Central Bank of Russia (CBR).

    In an improved outlook issued on Friday, the regulator now sees the GDP declining by 3% to 3.5% this year, versus the previously projected 4-6% drop. In late April, it had expected GDP to shrink 8-10%. The central bank forecasts the economy returning to growth in 2024-25.

    On Friday, the CBR also held its key interest rate at 7.5% after six cuts in a row, citing risks of higher inflation. “There is a balance between proinflationary and disinflationary risks over a short-term horizon. As to a medium-term horizon, proinflationary risks still dominate and have grown slightly since mid-September,” the regulator said.

    According to the report, annual inflation continues to “slow down gradually.” In September, growth in consumer prices decelerated to 13.7% in annual terms (after 14.3% in August) and declined further to 12.9%, as of October 21.

    Despite the progressive decline, inflation expectations of households and businesses are high and have grown slightly, relative to the summer months, the CBR said. Analysts’ medium-term inflation expectations are anchored close to 4%, the regulator added.

    https://www.rt.com/business/565511-russia-economic-outlook-improved/

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    Post  Kiko Sun Oct 30, 2022 10:50 am

    Healthy independence: how is import substitution going in Russian medicine, by Maria Frolova for Izvestia. 10.30.2022.

    New technologies are needed to ensure the economic and biological security of the country.

    For Russia, the issue of building up its own competencies in the field of pharmaceuticals and medicine in general is becoming increasingly important - this, in particular, was discussed during a meeting between Russian Prime Minister Mikhail Mishustin and the head of the Federal Medical and Biological Agency (FMBA) Veronika Skvortsova. New technologies are needed to ensure the economic and biological security of the country. Details about how import substitution in medicine is going on today were found out by Izvestia.

    Import substitution trends

    The classic approach to import substitution — the development and organization of production of Russian analogues of foreign medical devices and pharmaceuticals — was supplemented in 2022 by two new trends: parallel imports and the replacement of Western manufacturers by manufacturers from countries that have not imposed restrictions on trade with the Russian Federation.

    — These trends are also noticeable in medicine, despite the fact that formally pharmaceutical companies and medical equipment manufacturers have not left the market, but have only curtailed investments in new projects. Due to the closure of borders, difficulties in making payments and disruption of supply chains, it is possible to buy products, but increased risks and uncertainty in the timing of deliveries require diversification, ” says Vladimir Egorov, Senior Project Manager of the Skolkovo Foundation’s Biological and Medical Technologies Cluster.

    The need for import substitution in medicine has, as expected, become one of the most difficult challenges for the industry - it is slow and difficult due to the versatility and multi-stage process, and also requires large time and economic resources.

    As Yegor Osidak, technical director of the company - a member of the Moscow innovation cluster - Imtek, explains in an interview with Izvestia, today it is not enough to have a production base - it is necessary to provide this production with raw materials of the appropriate quality, develop and implement a quality management system (QMS) for each medical device, validate critical manufacturing processes and, finally, initiate the procedure for state registration of a medical device.

    “Under normal circumstances, the average time to market for a medical product is up to five years. Now, in order to successfully and quickly carry out import substitution of critical medical technologies, close cooperation between manufacturers, regulators and legislators is necessary,” says Yegor Osidak.

    In turn, Vladimir Egorov notes that the economic demand for certain medical devices on the market, if there is an administrative will to speed up the passage of regulatory procedures, can give a very powerful impetus to development.

    Upward movement

    As Valentin Tsyvova, deputy chairman of the Public Chamber’s (OP RF) commission on protecting the health of citizens and developing healthcare, says in an interview with Izvestia, today Russia is experiencing a steady increase in the production of medical devices, and much attention is paid to import substitution in medicine. For example, the Sibur company localized the production of syringes, laboratory plastic, systems for infusion and transfusion therapy.

    - If we are talking about high-tech first aid, then it is worth mentioning our scientists, engineers and designers who are working on domestic surgical robots. They are being tested in operations on animals, undergoing preclinical trials, and their widespread use in medicine will soon begin,” says Tsyvova.

    Russia also produces units for radiation therapy and diagnostics of oncological diseases. The country has its own laboratory of nuclear medicine, where for more than half a century, isotopes have been used to save human life: radionuclides find a tumor and even metastases and, having reached their goal, kill a cancerous tumor. Radionuclides for the treatment of liver cancer will be used for the first time in Russia - there is no such drug anywhere in the world.

    As for medications, according to Valentina Tsyvova, the demand for L-thyroxine in patients with endocrine diseases has increased in the country. This drug must be taken for life.

    - Its manufacturer is a German company, the drug disappeared from sale in Russia for some time. Our domestic counterparts appeared just in time - the plant in Zhigulevsk took over the entire production volume - 12 million packs per year, - says the expert.

    As Tsyvova notes, the Russian pharmaceutical industry is not so dependent on the West: a shortage of medicines does not threaten the country. But, of course, there are problems - in particular, they relate to obtaining a registration certificate. While the equipment receives this identity, it may become obsolete.

    Another problem is staff training. Modern medical equipment requires high qualifications and well-coordinated work of several specialists. Therefore, it is very important to train highly qualified personnel.

    System work

    With the departure of foreign manufacturers of test systems, there is a risk of a shortage of consumables for devices used for in vitro diagnostics, says Yegor Osidak. Prior to this, foreign firms supplied Russia with “package offers”: a device was purchased and ready-made test cassettes for it. The process was automated as much as possible. It only remained to load the patient's blood sample into the device, and the result was obtained promptly.

    "However, this format of cooperation proved to be problematic almost immediately after the suppliers left: the devices work only with “branded” consumables, replacement is not provided there,” says the source of Izvestia.

    Therefore, the creation of such equipment has become one of the priority areas of import substitution: organizations that manufacture diagnostic devices and are ready to immediately supply consumables for screening will receive development. However, until the production is debugged, manual screening on domestic test systems becomes the solution. Appropriate screening kits are already being produced in Russia and will be widely introduced.

    In turn, Vladimir Egorov draws attention to the fact that sales and the geography of presence of Russian hemofiltration columns, which can be used, among other things, as part of the ECMO procedure, have grown significantly. In the context of a military operation, there is also a great interest in surgical materials and medical devices for wound therapy and in projects in the field of rehabilitation.

    A number of endoprostheses for abdominal surgery, neurosurgery, PCLS, urogynecology, oncology, cardiac surgery, ENT have also been replaced and are actively sold on the foreign market; bioresorbable membranes for guided tissue regeneration in dentistry and maxillofacial surgery, for the regeneration of cartilage tissue in the joints.

    “Most companies, after building a sales system for their products in the Russian Federation, begin to actively explore the markets of the CIS and the Middle East,” Egorov emphasizes.

    Development prospects

    According to Vladimir Yegorov, in the coming years, Russia is expected to see the emergence of domestic diagnostic medical equipment, from blood pressure monitors and glucometers to more complex solutions, such as ultrasound machines and tomographs. The groundwork for this exists - as well as individual products that have already received registration certificates.

    — The project on personal medical assistants — the creation of a system for continuous remote monitoring of the condition of people with chronic diseases — can also be a driver here, says Egorov.

    Yegor Osidak emphasizes that medical import substitution is vital for Russia. This is a critical sector of the economy, where, due to the "globalization" of the market, it was more profitable to use ready-made solutions, rather than develop your own. They are now trying to correct the mistake in the absence of a protective policy of their own manufacturer.

    "A good example of this is support measures both at the local level, for example, development programs from the Moscow Innovation Cluster, and at the country level as a whole, for example, support programs from the Innovation Promotion Fund,” says the specialist.

    The level of biotechnological production in Russia is at a high level, and with proper support, this will lead to the development of domestic mass production of various medical devices.

    "However, it is necessary to take into account the mistakes of the past: when the political situation stabilizes, when a foreign manufacturer can again return to the market, the state must protect its manufacturer on the Russian market, ” the expert concludes.

    https://iz.ru/1416997/mariia-frolova/zdorovaia-nezavisimost-kak-idet-importozameshchenie-v-rossiiskoi-meditcine

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    Post  Kiko Wed Nov 02, 2022 10:38 pm

    Imported detergents are leaving, giving way to Russian, by Tatyana Karabut for Rossiskaya Gazeta. 11.02.2022.

    Russians are switching to domestic laundry detergents. International brands have greatly reduced the range. In addition, Russian powders and gels are cheaper than imported ones.

    According to retail chains, sales of Russian laundry detergents in physical terms increased by about 70% compared to the same period last year, Igor Karavaev, chairman of the presidium of the Association of Retail Companies (AKORT), told RG. According to him, the share of domestic detergents in the assortment of chains has doubled on average, to 40-50%.

    The sales of goods of the low price segment are growing especially actively - today it accounts for almost 60% of sales of laundry detergents. There is also a dynamic growth in sales of washing powders under private label retail chains (PL). Over the past five months, private label sales have almost tripled.

    "The growth in demand for domestic household chemicals is due to a decrease in the range of international brands, an attractive price and a comparable high quality of Russian products," Igor Karavaev believes.

    Back in the spring, against the background of sanctions pressure, a number of international corporations announced the suspension of investments in the Russian market and the reduction of the assortment in the country. Literally in April, NielsenIQ recorded a reduction in the range of washing powders by almost a third (32.7%).

    From January to September 2022, in general, the dynamics of sales of washing powders turned out to be negative, NielsenIQ told RG. At the same time, the premium price segment demonstrates the largest drop - minus 15.8%. In the middle price segment, the decline is not so impressive - minus 5.6%. While smaller and cheaper brands grew in sales from April to September 2022. And among the key growing brands (in physical terms) Russian brands prevail. Some of them have increased their shares by seven times. If last year the share of sales of inexpensive washing powders was 54.7%, this year the economy segment was already purchased by 57%.

    RBC wrote about similar trends, explaining the growth in the popularity of domestic brands not only by a decrease in competition after the reduction in the presence of international brands. According to the calculations of the Prodazhi.rf platform, foreign laundry detergents have risen in price more than domestic ones. From January to early October, the average price increased by 57%, to 246 rubles apiece. At the same time, already expensive imported products have risen in price by 50-100% over the year, while for Russian inexpensive brands, the cost growth ranged from 17 to 50%.

    The increase in prices for domestic laundry detergents was explained by interruptions in the supply of imported raw materials from March to June, explained Petr Bobrovsky, Executive Director of the Association of Manufacturers of Perfumes, Cosmetics, Household Chemicals and Hygiene Products. Some Russian manufacturers of household chemicals imported up to half of the ingredients. So, enzymes, defoamers in powders and more are produced abroad. The restructuring of logistics required additional costs, and the components themselves began to cost more.

    https://rg.ru/2022/11/02/stiraiut-iz-pamiati.html

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    Post  lancelot Mon Nov 14, 2022 12:03 pm

    Chinese smartphone companies rise in Russian market share and Western ones collapse because of their shitstores banning Russian apps.

    14.11.2022
    In just nine months, 19 million smartphones worth 364 billion rubles were imported into Russia, which is 23% less in units compared to the same period last year, the GS Group notes. Analysts of the company expect that the smartphone market in the Russian Federation will recover in the coming years, but will not exceed the level of previous years (35-37 million units per year).

    The first place in the supply of smartphones in the Russian Federation is occupied by Xiaomi with a share of 35%. South Korean Samsung is still in second place (15%), its deliveries in units decreased by 63% year-on-year. Realme, on the other hand, increased shipments in nine months by 67%, with most of the volume coming in the third quarter. The share of Realme was 14.6%. Tecno is in fourth place with a share of 7.6%, the brand has quadrupled shipments in three quarters. iPhone imports decreased by 58%, the company's share in the supply of smartphones in Russia almost halved over the year, to 7.3%.
    ...
    “For a Russian buyer, the vendor’s own ecosystem is now becoming an advantage — the Huawei AppGallery has applications from banks that have been sanctioned and removed from Google Play, you can buy paid applications and pay through the Huawei Pay service,”

    https://www.kommersant.ru/doc/5667054

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    Post  lancelot Sun Nov 20, 2022 8:18 am

    Refrigerators opened up in a new way
    11/18/2022

    Chinese and Russian brands are being integrated into the Russian home appliance market

    The traditional leaders of the Russian home appliance market, such as Bosch, LG, Samsung, and Electrolux, have started to lose ground in the last six months due to the suspension of imports and production in the country, giving way to Chinese and Turkish brands.
    ...
    As the commercial director explained to Kommersant Holodilnik.ru Alexey Pogudalov, referring to data from independent analysts, if in September 2021 LG was the leader in refrigerator sales with a share of 16.1% (in money), then a year later it was already only about 10.1% of the market. The shares of Bosch and Samsung have fallen, and sales of Whirlpool, Indesit, and others are declining. At the same time, the leader of the segment with a share of 23.5% was the Chinese Haier, while the positions of the Turkish Beko and the Belarusian Atlant improved.
    ...
    In the segment of washing machines, according to Holodilnik.ru,  Haier also became the leader in terms of money in September, having increased its share from 9.8% to 25% over the year. Next comes the Haier Group-owned Candy and Beko brands. In 2021, LG and Samsung were the leaders here. According to "M.Video", Haier was only the second, but the share is close to the leader of LG, in third place is Candy. Beko moved up from sixth place to fourth. In Citylink among washing machines, Candy, Indesit and LG are in the top 3.

    In the segment of cookers and ovens in Holodilnik.ru, Haier (replacing Bosch) is again named the leader, having more than quadrupled its share to 15.1%. Close to him in the second position is the Slovenian brand Gorenje, owned by the Chinese Hisense (13.8%, which, according to M.Video, became the leader in microwave ovens). Also in the top are the Belarusian Gefest and the Russian brand Darina. “The recent leaders Bosch and Electrolux are losing their positions, but remain visible in the market,” Alexey Pogudalov clarifies. He adds that brands that do not have their own productions are growing noticeably, for example, Weissgauff, LEX, Maunfeld, Kuppersberg.

    In small household appliances, Chinese Xiaomi, Deerma, Dreame, Roborock and others took the leading positions “even before the well-known events”, so the departure of Western vendors did not have a strong impact on the segment, Marvel Distribution notes. Tefal and Russian Polaris, Bork, Redmond compete with Chinese technology. Citylink says that in their network StarWind, Hyundai and Kitfort became the leaders in sales in units, in money - StarWind, Philips and Kitfort. In general, according to Marvel, for the small equipment market, sales for nine months even grew by 5% year-on-year to 156.7 billion rubles.

    Chinese and Turkish companies are capturing not only the market, but also production facilities. Brands that have suspended operations in Russia are declaring plans to enter: Bosch intends to sell a plant near St. Petersburg (see Kommersant on August 22), and LG — to move production to one of the CIS countries (see Kommersant on October 21). The buyers are still unknown. But the facilities of the American Whirlpool (Indesit, Whirlpool, Hotpoint) in the Lipetsk region have already been acquired by the Turkish Arcelik (Blomberg, Beko, etc.; see Kommersant of June 28).

    Haier, according to Alexei Pogudalov, plans to expand the facilities launched in 2019 in Naberezhnye Chelny (washing machines, refrigerators and TVs). Kommersant's source on the market specified that we are talking about launching a second plant in the same cluster. Turkish Vestel, which mothballed its plant in Aleksandrov in 2016 (see “Kommersant” dated November 3), is exploring the possibilities of restoring production. Back in 2020, the Chinese company Midea opened a refrigerator factory in Tatarstan, and in 2023 it promises to start producing washing machines (according to Kommersant, the company also launched the assembly of microwaves in Kaliningrad and plans to expand the production of other types of equipment). Hisense can buy out mothballed capacities, Mr. Pogudalov adds, without disclosing details. Earlier, Marvel Distribution said that Hisense is one of the contenders for the acquisition of the Bosch plant. Haier, Hisense and Midea did not respond to Kommersant's requests.

    New and expanding production facilities are designed not only for the Russian market, but also for deliveries to neighboring countries, Aleksey Pogudalov believes: “In Russia, the price of labor, energy resources, and some materials, such as metals, are lower. In combination, this gives an advantage. But the shortage of imported components or the complexity of their delivery may become an obstacle.

    The construction of a plant that produces 500-600 thousand washing machines and 500-600 thousand refrigerators per year could cost about €50-70 million (3-4 billion rubles; see the column for more details), the director of the household appliances department believes " Marvel Distribution” Dmitry Levin: “It is more difficult to evaluate the re-equipment of a mothballed plant, since it is necessary to study each case: somewhere you need to change the air conditioning and heating system, which is very expensive, somewhere it is enough to move the machines.” He adds that in the supply of components for production, "everything comes down to logistics." The components are made mainly in China, so "there is no problem with their purchase, the main thing is to bring them."

    A new trend is the interest in domestic and Belarusian brands, which are not yet among the leaders, but increase sales. M.Video notes that sales of Atlant, Darina, Gefest, Flama, Elikor and Vityaz equipment increased by 1.5–2 times.

    In free-standing electric and gas stoves in unit sales, the Belarusian brand Gefest took first place, the Russian Darina (Tchaikovsky gas equipment plant in the Perm Territory and also contract manufacturing in China) - the second, Flama (Kanaevsky gas equipment plant in the Krasnodar Territory) - fifth. In refrigerators, the Belarusian “Atlant” entered the top five (also in demand in freezers and washing machines), Pozis (Plant named after Sergo, Tatarstan), a significant share of Kraft (contract manufacturing in China, Russia, Turkey) got into the top ten. In kitchen hoods, the leading group traditionally includes Elikor (a plant in Kaluga).
    ...
    The interest of buyers has grown due to the departure of well-known brands and problems with spare parts, says Dmitry Levin: “At the same time, Russian large household appliances have not become better or cheaper, on the contrary, they have risen in price and do not yet claim large market shares.”
    ...
    “Parallel imports carry something that is not mass-produced here in these categories - refrigerators with two hinged doors, freezers that differ in location, high-tech washing machines 60x60, dryers, etc.,” the expert explains.

    Dmitry Levin believes that, as a result, primarily Western equipment will lose its positions, and large Asian brands "are unlikely to really leave and give up their shares." In his opinion, such brands as Haier, Hisense, Gorenje will remain market leaders in the coming years. Perhaps, the expert adds, the new Turkish owners at the facilities of Whirlpool "will be able to create a worthy A-brand, there is a modern production base for this."

    https://www.kommersant.ru/doc/5669810

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    caveat emptor
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    Russian Economy General News: #13 - Page 3 Empty Re: Russian Economy General News: #13

    Post  caveat emptor Mon Nov 21, 2022 1:21 am

    Record setting OFZ government paper issuance was auctioned of in three separate sales on November 16. Altogether about 820 billion rubles worth of debt was sold.
    https://www.moex.com/n53024/?nt=0
    https://www.moex.com/n53028/?nt=0
    https://www.moex.com/n53030/?nt=0

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    Post  franco Mon Nov 21, 2022 9:11 pm


    The head of the Federal Tax Service reported to Putin that tax revenues to the consolidated budget of the Russian Federation increased by 18%


    The head of the Russian Federal Tax Service, Daniil Yegorov, said that in ten months, tax revenues to the country's consolidated budget increased by 18%, to 27.4 trillion rubles. At the same time, the head of the Federal Tax Service expressed the hope that such rates will continue at the end of the year.

    “For ten months, our receipts amount to 27 trillion and four billion rubles, which is 18% more than last year. If we talk about consolidated regional budgets, then this is plus 15%, and if we talk about the federal budget, then this is plus 20%,” Yegorov said at a meeting with Russian President Vladimir Putin.

    Earlier, the Minister of Finance of the Russian Federation, Anton Siluanov, said that it was irrelevant to raise taxes for the population. At the same time, the head of the Ministry of Finance of the Russian Federation positively assessed the effectiveness of the introduced progressive scale for personal income tax.

    https://tvzvezda-ru.translate.goog/news/202211211940-9cUQH.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB&_x_tr_pto=nui

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