The price reflects a 50% discount that Moscow imposes on companies from “unfriendly” countries like the Netherlands as a condition of exiting business in Russia, according to a statement this week from Nasdaq-exchange listed Yandex NV.
It follows drawn-out negotiations that show the complexities international companies must navigate if they want to unload their Russian businesses, which many have been struggling to do since President Vladimir Putin’s February 2022 invasion of Ukraine and the sweeping financial and economic sanctions that followed.
Yandex, founded in 1997 as Russia’s answer to Google and Yahoo, serves Russian-speaking customers through its search engine and with widely used apps for food delivery, car-sharing and shopping.
Co-founder Arkady Volozh, who had earlier moved to Israel, resigned as CEO in 2022 after he was hit with European Union sanctions. He subsequently condemned Russia’s invasion as “barbaric.” The Nasdaq exchange suspended trading in Yandex shares days after the invasion.
This story is from the February 10, 2024 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 10, 2024 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
AUSTRALIA WON'T FORCE SOCIAL MEDIA USERS TO SHARE THEIR PERSONAL DETAILS WHEN CHILD BAN TAKES EFFECT
Australia’s communications minister said this week the government won’t force social media users to hand over their personal information to tech companies, as children younger than 16 are set to be banned from the platforms.
FORD, FACING ECONOMIC HEADWINDS AND WEAK EV SALES, TO CUT 4,000 JOBS IN EUROPE
Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.
ABOUT 20% OF AMERICANS REGULARLY GET THEIR NEWS FROM INFLUENCERS ON SOCIAL MEDIA, REPORT SAYS
About one in five Americans - and a virtually identical share of Republicans and Democrats regularly get their news from digital influencers who are more likely to be found on the social media platform X, according to a report released this week by the Pew Research Center.
SPIRIT AIRLINES FILED FOR BANKRUPTCY. WHAT DOES THAT MEAN FOR TRAVELERS?
Spirit Airlines, the largest budget carrier in the U.S., filed for Chapter 11 bankruptcy protection this week. The airline said customers should not see any disruption to their travel plans while the process unfolds.
MEET THE WORKOUT GROUP THAT GETS PEOPLE EXERCISING OUTDOORS, EVEN IN THE DEAD OF WINTER
The sun had yet to come up in Edmonton, Alberta, and it was more than 20 degrees below zero. Tanis Smith layered up anyway, ready to run up and down hundreds of stairs among the trees in the Saskatchewan River Valley.
NEW PENTAGON REPORT ON UFOS INCLUDES HUNDREDS OF NEW INCIDENTS BUT NO EVIDENCE OF ALIENS
The Pentagon's latest report on UFOs has revealed hundreds of new reports of unidentified and unexplained aerial phenomena but no indications suggesting an extraterrestrial origin.
COMCAST TO SPIN OFF CABLE NETWORKS, ONCE STAR PERFORMERS FOR THE ENTERTAINMENT GIANT
Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant, with people increasingly swapping out their cable TV subscriptions for streaming platforms.
DELTA CEO SAYS THE TRUMP ADMINISTRATION WILL REVERSE GOVERNMENT 'OVERREACH' SEEN UNDER BIDEN
The chief executive of Delta Air Lines says the incoming Trump administration will be a “breath of fresh air” for airlines after what he called government “overreach” under President Joe Biden.
NVIDIA RIVALS FOCUS ON BUILDING A DIFFERENT KIND OF CHIP TO POWER AI PRODUCTS
Building the current crop of artificial intelligence chatbots has relied on specialized computer chips pioneered by Nvidia, which dominates the market and made itself the poster child of the AI boom.
MICROSOFT PITCHES AI 'AGENTS' THAT CAN PERFORM TASKS ON THEIR OWN AT IGNITE 2024
AI developers are increasingly pitching the next wave of generative AI chatbots as AI \"agents\" that can do more useful things on people's behalf. But the cost of building and running AI tools is so high that more investors are questioning whether the technology's promise is overblown.
