Russian company SPLAT in the UK

In 2016 Russian company SPLAT entered the British marked and opened its first office in the UK. Today SPLAT products are distributed in more than 1000 retails in the UK, including Harrods, Harvey Nichols, John Bell & Croyden, Revital. SPLAT products can also be found at hundreds of pharmacies, beauty shops and dental practices around the UK, as well as in web stores. SPLAT Global UK won 7 awards, one of the most prestigious – Beauty Shortlist Mama and Baby Awards 2017.
SPLAT is a Russian company that specializes in developing and producing of professional solutions in categories of oral care, eco home care products and kids’ cosmetics. SPLAT is family-run business. Today the company sells products to more than 60 countries worldwide and strives to create the very best products that will provide healthy oral care solutions. SPLAT has been recognized as the TOP-30 fastest growing global brand by Stanford University.
SPLAT products are manufactured from only the very best ingredients from leading global producers, in its own modern, environmentally friendly factory, located in Valdai region. The company’s quality control system and certified production meet the international standards GMP Cosmetics (ISO 22716) and ISO 9001. SPLAT specializes in the creation of high-quality ecologically friendly products.
SPLAT is a member of the UK’s largest dental industry body – British Dental Industry Association. SPLAT products are always displayed in the leading trade exhibition in the UK: Natural Organic Products Europe, BDIA Dental Showcase, Pharmacy Show, Annual conference of British society of periodontology and others. SPLAT is a social oriented company and contribute to charities around Russia and the UK.

Moody’s publishes a positive credit opinion on Russia’s International Investment Bank

Moody’s published a positive credit opinion on International Investment Bank (IIB) with the bank – formerly billed as the Soviet era’s answer to Europe’s EBRD – continuing to reinvent itself.
The international rating agency Moody’s Investors Services improved its credit opinion of IIB after meetings with the bank’s management in October.
Set up in Soviet times to foster cooperation and trans-border investment amongst the Comecon countries, the bank has been remaking itself over the last three years as a modern International Financial Institution (IFI) and the transition program officially came to an end at the close of 2015.
Moody’s noted a number of positive developments in its credit opinion that have had a positive impact on the institutional development and the operational activities of the IIB this year.
In May, 2017, Moody’s upgraded IIB’s rating outlook to positive from stable and affirmed IIB’s Baa1 issuer and debt ratings. In addition to the Moody’s Baa1 rating (outlook “positive”), IIB has been assigned ratings of BBB with a stable outlook from S&P and Fitch, as well as an A rating from the Chinese rating agency Dagong (outlook stable).
“The Moody’s opinion confirms the financial stability and the operational efficiency of the Bank. I would like to express my gratitude to the Agency for its positive evaluation of our efforts aimed at enhancing the role of the IIB as an effective multilateral financial institution, which operates in the interests of sustainable development of the economies of its shareholders,”, chairman of the IIB board Kosov said in a statement.
And the agency was pleasantly surprised by the “policy continuity” in the unanimous approval by the member states of the new development strategy that will start next year and run until 2022 as well as the board’s decision to re-elect the IIB’s chairman Nikolay Kosov for another five-year term.
The bank has been active in the last few years investing in the development of the economies of its member states and active development of local capital markets, including the issue of some pioneering local-currency bonds on local exchanges, its bank lending support programme with local partners and more recently its trade financing programme.
In the next strategic cycle IIB expects to deliver a two-fold asset growth and loan portfolio over five years, as well as delivering on more qualitative customer relations improvements, development of flexible products and service offerings in each of its member states.
The bank has also made progress in its risk management and liquidity management framework, according to Moody’s. This year IIB created an “Early Warning Mechanism” and extended the period for its liquidity buffer to 12 months from six months, which is intended to strengthen its stability during the stress tests.
But the proof of the pudding was the consistent assets growth, quality of the treasury portfolio, and funding diversification. IIB’s development assets, mostly loans, increased by around 38% y/y to circa €501mn in the first half of this year from €363mn in the same period a year earlier. The bank has also increased the Aaa-to-A3-rated assets in its portfolio – about 41% of the total volume as of June 30. At the same time, the IIB has expanded its funding to 11 countries as of the first half of 2017.


Penny Mordaunt has been appointed international development secretary

Penny Mordaunt, the Brexit-backing work and pensions minister, has been appointed international development secretary to replace Priti Patel, who resigned from the cabinet on Wednesday night.
Mordaunt’s appointment will appease many Eurosceptic MPs who wanted to see the prime minister preserve the balance of leave and remain supporters in the cabinet after the departure of Patel, who has been one of the government’s most pro-Brexit voices.
Mordaunt, 44, had been widely tipped to replace Michael Fallon as defence secretary when he resigned over sexual harassment allegations last week, but he was succeeded by the former chief whip Gavin Williamson.
Mordaunt, a Royal Navy reservist from a military family, was first elected as the MP for Portsmouth North in 2010 and appeared on ITV’s celebrity diving programme Splash four years later.
May completed her mini reshuffle by moving the MP Sarah Newton from the Home Office to replace Mordaunt at work and pensions. Her responsibilities will focus on disability. Meanwhile, Victoria Atkins, who became a Tory MP in 2015, becomes an undersecretary of state in the Home Office, replacing Newton.
Ministers suggested that the prime minister was building up to a major reshuffle on her own terms in December, or the new year, after Philip Hammond delivers his budget later this month.
The shadow international development secretary, Kate Osamor, said Mordaunt “faces an immediate challenge of restoring integrity to British international development policy after the actions of Priti Patel”.
Osamor said Mordaunt should publicly recommit to the 0.7% of national income to be spent on international development.
“Unlike Priti Patel, who too often used the department to prop up her personal networks and leadership ambitions, Mordaunt must also quickly commit to the central cause of the department: to help the world’s poorest,” she said.
Patel resigned under pressure on Wednesday night and acknowledged that her behaviour “fell below the high standards” expected of a minister after she attended meetings with senior Israeli figures while on a family holiday, without reporting them to Downing Street.
It emerged she had 12 political engagements, including with the prime minister, Benjamin Netanyahu, while visiting the country in August.
When the meetings first came to light, Patel apologised to May and Downing Street said she would stay in post. It was then revealed Patel had attended additional meetings, one in the UK and one in the US, on her return from Israel.
The Israeli newspaper Haaretz also reported that during her stay in the country she visited an Israeli military field hospital in the occupied Golan Heights. Britain does not recognise Israeli control of the area seized from Syria.
Patel was summoned back from an official visit to east Africa, flying from Nairobi to attend a crisis summit in Downing Street, where she resigned.


Russia’s central bank cuts interest rate by 25bp to 8.25%

The Central Bank of Russia (CBR) decided to cut the key interest rate by 25bp at the board of directors meeting on October 27, the regulator said in a much anticipated press release.
A rate cut of 25-50bp was widely expected by analysts as the inflation-minded regulator had the annual inflation overshoot its target of 4% currently amounting to about 3%.
A more aggressive cut of 50bp would have meant that the CBR could prepare to tighten the policy again in the beginning of 2018, some analysts suggested. However, the CBR decided to abstain from an aggressive move and cut the rate by the minimum step of 25bp to 8.25%.
“The CBR’s decision to lower the key rate by 25 bps to 8.25% is in line with market expectations, but turned out to be more cautious than we anticipated,” Gazprombank commented on October 27.
“The board of directors noted that inflation remains close to the target of 4%,” the CBR press-release reads. The CBR argues that the “downwards deviation of inflation is related mainly to one-off temporary factors”.
The regulator has allowed for further rate cuts in the coming meetings in 2017. The decision will take into account the “significant and stable” deviation of inflation from its goal, as well as dynamics of economic activity.
Gazprombank sees that tone of the CBR’s press release as mixed. On one hand it sees the current strong disinflation as temporary and reminds of consistently high inflationary expectations. On the other hand, in medium-term persective risks, both the downsides and upsides of inflation deviations from the 4% target are mentioned.
“Moreover, for the first time in its communique, the CBR included a phrase regarding transition from “moderately tight” to “neutral” monetary policy, which in our view indicates a smooth reduction of the real key rate from the current level of 5.6% to the equilibrium 2.5%,” Gazprombank commented.
Gazprombank expects a 25bp reduction of the key rate at a base case scenario given no negative surprises for the next meeting scheduled for December 15. VTB Capital agrees saying: “We see a 25bp cut at the December meeting as a base case,” on October 27.
“The incoming data for October and November might nudge the Board to opt for a more ambitious cut of 50bp, but this would call for surprises from inflation reports, banking stats and economic activity data to combine into a convincing case,” VTB analysts commented.
The CBR expects inflation to end 2017 at 3.5-3.8%, while the Ministry of Economic Development that needs lower interest rates to help its ambitious 2.1% growth outlook expects 2.7-3.2% inflation in 2017.


The themed train ‘The Heart of Russia’ launched on the London underground

Over the course of centuries, Russia has contributed greatly to world culture – and now its greatest achievements will be showcased with the launch of specially themed train operating on London’s underground.
Seven uniquely designed carriages will provide a valuable insight into Russian achievements in various landmark subjects such as architecture, art, science, ballet, cinema, literature and space studies as well as showcase famous sights in Moscow.
Called “The Heart of Russia,” the distinctively decorated trains will feature white, blue and red, the colors of both Russia and the UK’s national flags — although the main color will be supplemented with royal golden.
Inside the carriages lesser-known facts are highlighted by dates and descriptions of various achievements.
The initiative is timed to cross the year of science and education of the Russian Federation and Britain. The trains will operated on both the Hammersmith & City as well as the district line which carry more than a million passengers a day. The first train ran on Thursday, October 25.
“This is the largest ever project of two largest metros in the world. The train will show that our countries have a lot in common that we have something to share and something to learn from each other,” said Maxim Liksutov, deputy mayor of Moscow and head of Moscow’s Department for Transport and Road Infrastructure Development.


First Day of “Open Innovations” Forum “CORPTECH: DNA OF THE CORPORATION OF THE FUTURE” Completes in Moscow

Digital transformation of business and development of corporations of the future became the key topic of the first day of Open Innovations Moscow International Forum. This year the Forum brought together at Skolkovo Technopark some 18,000 participants: internationally famous futurologists, professors of leading international business schools, technological evangelists and leading experts in management, managers of startup companies and IT entrepreneurs, more than 1,000 representatives of mass media.

Open Innovations 2017 Forum was opened by Vice Premier of the Government of the Russian Federation Arkady Dvorkovich and Viktor Vekselberg, President of the Skolkovo Foundation.

“Open Innovations presents an excellent networking opportunity for forum participants looking for investments. The Government is ready to support innovations, provide for sustainable growth and become a partner for the business community and the society,” Arkady Dvorkovich said.

In his introductory remarks at the first plenary session of the Forum, entitled “Companies in a digital era. Corporation or collaboration,” president of Skolkovo Foundation Viktor Vekselberg, said: “Over the past several years the Open Innovations Forum has earned itself a good reputation. Since 2016 the number of Forum participants grew from 12,000 to 18,000. Russia was and is today a very attractive platform for adoption of global solutions. Our country has a tremendous potential and excellent opportunities, and can serve as a competitive player in global economic space. Moreover, Open Innovations Forum is a great place for representatives of small and medium-sized business to do some networking and reach a new level of quality.”

The Forum opened with a panel discussion entitled “Transform or Die. A New Life of Old Industries,” moderated by Pekka Villakainen, Senior Advisor to the president of Skolkovo Foundation. The participants agreed that technologies along can help change business in a fundamental manner; it is especially important for large companies that will need to modernize business processes to remain afloat. Technologies, at the same time, should not remain the only focus, they should serve just as a way to achieve goals.

David Hanson, founder and CEO of Hanson Robotics, presented Sofia, a robot created by the company. The presentation was met with great enthusiasm. The Sofia project, Mr. Hanson said, is an attempt to create artificial intelligence that could learn to understand people and take care of them, as well as be motivated to improve life conditions on the planet Earth.

John Nosta, president of NostaLab, one of the most famous and active supporters of a digital revolution in the sphere of digital medical technologies, and the gospel-writer in this area of science, spoke at the session entitled “Digital Medicine Revolution.”

Digital technologies transform the habitual notion of medicine, expanding the capabilities of practicing physicians, and handing over some of the important health monitoring functions into their own hands, John Nosta said.

Mitio Kaku, a famous physicist and futurologist, became the headliner of the first day of the Forum, speaking at the panel discussion entitled “Applied Quantum Technologies. How is the World Changing?” in which he talked about the ways in which our life will change within the next few decades.

“Development of quantum computers will allow us to send our emotions and feelings via the web. The new internet will be a network connecting one human brain to another without intermediaries,” Mitio Kaku said.

Vice Premier Arkady Dvorkovich, who spoke at the panel discussion, said that the Government of the Russian Federation will be working on concrete projects in the sphere of quantum technologies, focusing on basic issues that highly qualified expertise can bring to fruition.

Skolkovo Technopark hosted MBA express, a mini lecture course. For 2 1/2 hours representatives of the Hong Kong University of Science and Technology (HKUST) Yan Xu and Xi Chang, as well as Jonas Hedman of the Copenhagen Business School, talked about the essence of innovative activities of large corporations, the future development of FinTech direction, and cash-free transactions.

Top mangers of major Russian and international companies discussed the working conditions of staff in modern open offices during the panel discussion entitled “Ping Pong for Billionnaires. What is the Setup of the Corporate Culture of Technological Giants?”

Timur Bekmambetov, a famous Russian film director and founder of BAZELEVS Film Company, introduced DREAM APP, a new reality show that was created to support startup companies. Specially invited star investors of the program were Timur Bekmambetov himself, actor Emmanuil Vitorgan, singer Valeria, producer Iosif Prigozhin and other media personalities.

German Klimenko, advisor to the President of the Russian Federation, speaking to the press at the Forum, discussed the problem of reducing numbers of jobs due to fast development of new technologies.

According to Mr. Klimenko, technological progress in general leads to an increase in the number of jobs requiring high qualifications. People will always find a job in such a gigantic country as Russia, he said.

The program of the Forum consisted of more than 60 sessions, and more than two dozens business contracts were signed. For instance, the IIDF and VEB Bank signed an agreement worth RUB 200 mln, on investments into StartTrack, the leading Russian collective financing platform. Another agreement worth RUB 100 mln concerned investments of the Gruzdev Family Foundation into IT I Skolkovo Venture Foundation.


Moscow | RBCC RussiaTALK Investment Forum at CCIRF, Thursday 2 November 2017

rbccThe Forum will be started off by His Royal Highness Prince Michael of Kent (Patron of RBCC), Sergei Katyrin (President, RF CCI), Roger Munnings (Chairman of the Board of Directors, RBCC), representatives of British Embassy and Russian government.
The Forum will be concluded by evening reception hosted by Her Britannic Majesty’s Ambassador to the Russian Federation, Dr Laurie Bristow CMG. The guests will enjoy an opportunity to celebrate Anglo-Russian relations and further cooperation at the Residence (14, Sofiyskaya emb.).


09:00–10:00: Registration
10:00–10:30: Welcome addresses:
Sergei Katyrin (President, RF CCI)
His Royal Highness Prince Michael of Kent (Patron of RBCC)
Roger Munnings (Chairman of the Board of Directors, RBCC)
Alexander Shokhin (President, Russia Union of Industrialists and Entrepreneurs)
10:30–10:45: Blitz-interview on the productivity in the financial sector (Stuart Lawson)
10:20–11:50: First panel: Tools to improve productivity

Economic outlook of the productivity challenge by the World Bank’s representative
Productivity of SMEs
PPP programs
Opportunities for Anglo-Russian trade cooperation
Investment optimisation
Digitalisation and brand promotion opportunities
11:50–12:10: Coffee Break
12:10–13:40: Second panel: How Russia is using local and foreign experience to create leading products?


Investment and innovation in enhancing productivity capacity
Transportation and logistics as a key feature to productivity
Productivity of Oil & Gaz sector with regard to challenges of sanctions
Biotech, chemichals, forestry and other industries
13:40–15:00: Lunch

Contact details: +7 495 961-2160



vebFrom 25 to 26 September, the first conference of Vnesheconombank’s regional managers was held. The conference brought together managers from 16 Russia’s regions, who had been selected via a multi-stage selection procedure, as well as industry and government officers.

In anticipation of the conference, regional managers from 13 regions submitted 28 projects to VEB to choose from. 16 of the projects that were offered for sectors such as infrastructure, power generation, defence industry diversification, pharmaceuticals, aviation and polymer chemistry meet the Bank’s strategy. The project selection panel consisting of Vnesheconombank’s top mangers shortlisted five best projects. The winner was Chernyakhovsk land port construction project by Oleg Skvortsov, Deputy General Director of Kaliningrad Region Development Corporation.

The opening speaker was Alexey Ivanchenko, Vnesheconombank’s Deputy Chairman and Member of the Management Board. In his welcome address, Mr. Ivanchenko said: “Vnesheconombank is implementing a new approach to searching for and selecting investment projects for the Bank’s loan portfolio via a nation-wide network of its representatives that is now being created. We have appointed 25 regional managers in 16 Russia’s constituent regions. In November, we are planning to complete our work in the rest of the regions and to start implementing our initiative all across the country. Regional managers will select projects requiring more than RUB1bn funding with an implementation period of five years or longer that meet new Vnesheconombank’s priorities as well as projects for the Project Finance Factory.

Svetlana Chupsheva, General Director of the Agency for Strategic Initiatives (ASI), told about ASI’s regional initiatives. “Our objective is to find leaders, ‘stars’ in the regions who will compete such payers as Uber or Amazon. VEB’s regional managers will help find and develop such leaders,” Mrs. Chupsheva noted in her speech.

Among the keynote speakers was also Alexey Repik, President of Business Russia, who spoke about business in regions with a focus on challenges in finding and implementing investment projects. In his speech, he stressed how important the work of VEB’s regional managers is. “VEB’s regional managers will help reduce the existing gap and overcome the lack of understanding between regional businesses and the central federal authorities.”

Anton Alikhanov, Governor of the Kaliningrad Region, talked about the regional investment policy and expectations they have about Vnesheconombank’s regional managers. “We are really thankful to VEB for its sending representatives to regions. This will enable more efficient investment and will help reduce gaps between regions,” Mr. Alikhanov said.

Alla Zavodina, a winner in the regional manager selection, Investment Director of the Novgorod Region Development Agency, shared her plans: “The Novgorod Region is quite attractive for investors. That is why the presence of VEB’s qualified certified managers who speak the same language with investors and are able to prepare all the documents required to apply for funding will be an important competitive advantage for the region. I believe that keeping people informed about VEB’s programmes is a really important mission for me. Because the lack of information impedes development and results in the lack of confidence among investors.

During the conference, Vnesheconombank signed contracts with 25 regional managers, who were also officially awarded honour certificates. Thus, the regional managers have become official representatives of Vnesheconombank in 16 Russian constituent regions.


Representatives of the Trade Delegation of Russia in the United Kingdom attended The Flood Expo – 2017

IMG_3664-1Flood 1Representatives of the Trade Delegation of Russia in the United Kingdom attended The Flood Expo – 2017 with co-located The Marine & Coastal Civil Engineering Expo (M&CCE Expo) and The Contamination Expo which took place on September 27-28 at London’s ExCel.
The event is the largest exhibition and the conference in the UK dedicated to showcasing the latest innovations in the detection, management, testing and removal of contamination, flood protection and the solutions for marine and coastal civil engineering projects.
The key event of the show consisted of 9 stages which provided a space for representatives from UN Climate Change, EDFHinkleyPointC, ARUP, Fugro, The Met Office, The Environment Agency, MoD and for 100 other speakers to discuss the problems, solutions, innovations, and technologies of the industry with the thousands of professional visitors.
Throughout the two days over 200 exhibitors unveiled their latest innovations and provided invaluable insight and one-on-one advice to all that need to stay up-to-date and on top of the profession.

Registration is open for IV International Agricultural Dairy Forum November 8-9, 2017

dairy forumIV International Agricultural Dairy Forum organized by the Government of the Moscow Region with support of the Ministry of Agriculture of the Russian Federation will take place in the House of Government of the Moscow Region, November 8-9
Main topics of the Forum in 2017 are the dairy industry’s common challenges and development strategies in today’s world. Representatives of Russian authorities, industry alliances, business communities and foreign guests will discuss a wide range of issues related to the development of the dairy industry in Russia and around the world.
Speakers and Forum participants will summarize the preliminary results of three years of sanctions in the dairy industry and assess the feasibility of electronic veterinary certification and the requirements of the Customs Union. Within the Forum’s sections and round tables discussions will be held on the structure of state support for the industry and countermeasures for falsification in the dairy industry.
The business program of the Forum will also include topics related to the development of the world dairy market, a reduction in demand for dairy products, the role of business and cooperation in the production of milk. Cluster solutions in the dairy industry will be a separate topic of the Forum.
On the platform of the Forum will take place an exhibition with presentation of dairy products, industrial equipment, and results of the investment projects related to dairy industry in Moscow Region.
To participate in the Forum, you need to go through the registration procedure at Participation in the Forum is free of charge.

Official website: