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Russian tablet sales reached 3 million units in 2024, marking a 23% increase from the previous year, according to MTS. Market revenues rose by 24% to RUB 61.7 billion, setting a new record and surpassing previous highs of 2.6 million units in 2020 and RUB 50 billion in 2023.
German second-line stocks lead with a 9.73% performance, followed by cyclicals in Austria at 9.04%. In the banking sector, Societe Generale outperforms with a 15.52% increase, while UBS and Sberbank struggle, showing declines of 5.94% and 67.53%, respectively. The average performance of BSN-Group banks stands at 7.3%.
Gold prices have reached all-time highs, trading above USD 2,870/oz, driven by tariff concerns and strong central bank demand, prompting a forecast increase to USD 3,000/oz over the next year. Geopolitical tensions and a potential resumption of Fed rate cuts are expected to sustain gold's appeal as a safe-haven asset. Central bank purchases remain robust, with 1,045 metric tons bought in 2024, reflecting ongoing diversification and de-dollarization trends.
Raiffeisen Bank, the largest Western-owned bank still operating in Russia, has been linked to firms supplying the Russian military amid ongoing pressure to withdraw from the country. Documents reveal that its Russian unit received over 62 million rubles from Unichim, a company providing materials for military systems. U.S. officials indicate that Raiffeisen likely has additional clients involved in the military-industrial complex, as Russia's economy is increasingly aligned with wartime needs.
Raiffeisen Bank's Russian subsidiary is reportedly under scrutiny as it has customers linked to the country's military supply chain. A chemical company paid the bank 62 million roubles for services, raising concerns about the bank's potential involvement with other defense industry suppliers, according to an unnamed European government official.
Raiffeisen Bank International's Russian branch has been linked to companies supplying the Russian military, including Unichim, which provides components for military equipment. Despite plans to reduce operations, the bank earned over $1 billion in the first three quarters of 2023, contributing significantly to its parent company's profits. Limitations from the Russian government have resulted in 4.4 billion euros of excess capital in Russia, complicating the bank's exit strategy.
Raiffeisen Bank International AG has reportedly conducted business with companies supplying the Russian military, generating significant profits in Russia despite international sanctions. Documents indicate the bank received over 62 million roubles from a chemical company linked to military production. As pressure mounts from Western governments, Raiffeisen's share price fell by up to 6.4% following these revelations.
Raiffeisen Bank is under scrutiny for profiting from Russian defense-linked companies, including Unichim and Totalelectro, while facilitating transactions through sanctioned banks. Despite generating over €1 billion in profit from Russia in 2023, capital controls hinder the repatriation of €4.4 billion in surplus capital. As pressure mounts from Western regulators to exit the Russian market, the bank faces significant financial and regulatory challenges.
Raiffeisen Bank International AG is profiting from companies supplying the Russian military, earning over RUB 62 million from Unichim, which provides components for military systems. The bank's operations in Russia contributed to over US$1 billion in profits in 2023, despite facing capital transfer restrictions. Following reports of its involvement, shares fell by 6.4% in Vienna.
Raiffeisen Bank International AG's shares plummeted by 9.40% after reports emerged that the bank earned fees from a Russian chemical company linked to military supplies for Russia's defense industry amid the ongoing conflict in Ukraine. Documents revealed that the Russian branch received over 62 million rubles ($620,000) in service fees last year, raising concerns among European officials about potential undisclosed clients involved in similar activities. A bank spokesman asserted that Raiffeisen complies with all relevant sanctions imposed by the EU, US, and UK.
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