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Tag Archives: Business

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IKEA scales down business in Russia – Izvestia

Iconic Swedish furniture brand IKEA is winding down business activities in Russia, the newspaper Izvestia reported on Wednesday, citing its sources. According to the Moscow daily, the company informed its employees during a general meeting and will officially announce the decision soon. IKEA has not addressed plans for its outlets …

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Musk’s firm enters business in Ukraine

Starlink, a firm owned and operated by Elon Musk’s SpaceX, has been granted an operators license in Ukraine to provide an internet service, according to the country’s Minister of Digital Transformation Mykhailo Fedorov. “The company has just been added to the Register of Providers of Electronic Communications Networks and Services,” …

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Microsoft scaling down business in Russia – report

US software giant Microsoft said on Wednesday it was making substantial cuts to its business in Russia, joining the latest exodus of international businesses from the country amid Moscow’s ongoing military operation in Ukraine. “As a result of the changes to the economic outlook and the impact on our business …

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Injuries reported after fire at Moscow business center

Two people have been injured following a large blaze at the Grand Setun Plaza office building in Moscow on Friday morning. Emergency services are on site but it is thought that 15 to 20 people may still be trapped inside, according to multiple sources. 125 people have been rescued from …

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China tells G7 to mind its own business

China has responded to the G7’s request that Beijing cease support for Russia amid extensive Western sanctions, stating that the country decides its own position and policy based on the “merits of the matter itself,” and that the seven member nations should focus on their own issues instead of intervening …

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Major tech giant suspends business in Russia

Taiwanese computer maker Acer has suspended its business in Russia, the company announced on its website on Friday. The multinational hardware and electronics corporation said the decision was made “due to recent developments,” referring to “the conflict between Russia and Ukraine.” The Taiwanese firm has joined the mass exodus of …

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German consumer goods giant to continue business in Russia

German chemical and consumer goods giant Henkel will continue doing business in Russia, according to the company’s Chairperson Simone Bagel-Trah. “This is sometimes viewed very critically by the public. So, it is important to me to stress we are fully applying all applicable sanctions,” she told shareholders on Monday during …

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Microsoft suspends business in Russia

US software giant Microsoft is to suspend all new sales and services in Russia, the company announced on its website on Friday. “We are coordinating closely and working in lockstep with the governments of the United States, the European Union, and the United Kingdom, and we are stopping many aspects …

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