Finnish pharmaceutical company Orion Pharma may leave the Russian market, Schengen countries have drastically reduced the duration of multivisa, demand for loans from Russians has fallen by 25% and other news on October 20.

Reducing the validity of Schengen, coworking operators are interested in the UAE market: the main thing October 20

World

  • Schengen countries have drastically reduced the validity of their multiple-entry visas, which are issued to Russian citizens. The number of visas issued for the duration of the trip or with a small margin “due to change of plans” has increased, they can give a multi-visa for two weeks.

Russia

  • Russian President Vladimir Putin signed a decree on the abolition of rostourism. Its functions will be exercised by the Ministry of Economy.
  • Mikhail Mishustin instructed the relevant departments to resolve the issue of introducing a moratorium on lease payments for foreign equipment. The move comes as foreign automakers that have left the Russian market and failed to meet their share of their obligations continue to collect full payments from Russian businessmen.

Finance

  • Eurobond holders of Russian companies are asking the State Duma to force the latter to issue replacement bonds. So far, only five issuers have announced such a decision. The issuance of duplicate securities involves a number of difficulties, but the direct organization of ruble payments is not an easy process.
  • The demand for loans from the Russians at the end of September and in October fell by 10-25%. The reduction in demand may be due to geopolitical events, to the departure of a certain proportion of solvent citizens abroad.

Business

  • The Finnish pharmaceutical company Orion Pharma may leave the Russian market, which will be the first precedent for the reduction of business operations in Russia by a Western pharmaceutical company.
  • Joint venture “Sollers” and Japan’s Isuzu received government approval to terminate the special investment contract. The company has not fulfilled its obligations.
  • One month after the announcement of the partial mobilization, the prices of air tickets abroad fell by more than 25%. Flights to Armenia were the ones that fell the most.
  • Russian coworking operators became interested in the UAE market in the context of the migration of Russian specialists and startups to the country. Codesarrollo bought 4,000 m2 in the Burj Daman business center in Dubai for $30 million.
  • Investment holding company Freedom Holding Corp. has completely withdrawn from the Russian business, thereby completely separating the company’s Russian and foreign assets. Maxim Povalishin, one of the founders of the company, bought a 100% stake in the authorized capital of Freedom Finance Investment Company and Freedom Finance Bank.

Author:

RB team

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.

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