As Russia ramps up trade with India and gas supplies to Spain, and as Chinese investors panic over SVB’s collapse and Belgians over TikTok, US developers are launching a 3D-printed rocket, Microsoft is investing in algae and a chain of stores. Podruzhka is testing the sale of alcohol on neighboring shelves with cosmetics and jewelry. RB continues to follow the biggest and most entertaining business news.
- Russia entered India’s top five trading partners for the first time with a trade turnover of almost $40 billion per year (RIA Novosti).
- Spain multiplied gas imports from Russia by 2.5 (+151% only in February).
- The Belgian authorities have banned the use of TikTok on government phones (i.e. official and purchased with public funds).
- The collapse of Silicon Valley Bank – the biggest since Washington Mutual in 2008 – sent panicked Chinese investors, namely the world’s second-biggest venture capital market.
- Rosstat reported that by the end of 2022, the poverty rate in the Russian Federation decreased to the all-time low of the post-Soviet period and amounted to 10.5% (15.3 million people below the poverty line).
- The Russian developer of facial recognition systems NtechLab will test a similar system to recognize wild animals in order to avoid incidents in cities.
- The demand for renting studios in Moscow is growing: growth for the year amounted to 65% from February to February. Three-ruble banknotes are almost half as popular (34.7%), on average, interest in the market increased by 23.9% (Avito Real Estate).
- German auto parts maker Schaeffler is selling assets in the Russian Federation to Austrian businessman Siegfried Wolf, presumably for 10 million euros, with Promavtoconsult listed as the ultimate buyer in the documents.
- The volume of supply of individual storage depots in Moscow in 2023 may grow by 4.4-6.7%, but the rent will also increase (it has already increased by a quarter and will continue to grow).
- The Podruzhka retail chain, which sells cosmetics, perfumes and costume jewellery, received the right to sell alcohol and even launched trials at two locations. The continuation of sales will depend on the reaction of consumers.
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Microsoft is investing in algae to reduce its carbon footprint. - Relativity Space will make its second attempt on March 11 to launch the Terran1 light launch vehicle, in which 85% of the components are 3D printed.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
