Andrey Yakunin

May 7

Investing in the Future

Нигде время так не бежит, как в России.

Иван Сергеевич Тургенев. Отцы и дети.

Nowhere does time fly so fast as in Russia

Ivan Turgenev. Fathers and Sons.

An article in Vedomosti has contemplated the prospects of Russia’s youth, including their ‘protest potential’, in the current economic climate. The piece observed that some western views cast a gloomy picture over their future direction and question whether the youth will ever rise in revolt. I would argue that Russia’s millennials actually hold a positive attitude towards education, travel and particularly business. Therefore, the country’s future is in good hands, provided that this generation has the right environment in which to thrive.

Mar 24

50 Years of Spacewalks

Last Wednesday marked a half-century since the first human spacewalk, performed on 18^th March 1965 by Soviet cosmonaut Alexei Leonov. As Time pointed out, Leonov came from relatively humble stock. Born in a coal mining region of Siberia and growing up with eight brothers and sisters, his career in space lifted him far beyond these simple origins. Importantly, this came at a time of geopolitical tension, and this remarkable cosmic achievement marked a key milestone for humanity as a whole. Continue reading

Mar 17

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“There is no Russia without buckwheat”

“Legend has it that, 1,000 years ago, when Greek monks spread Christianity to Russia, they brought with them more than just the Bible. They brought a grain, a seed, so magical, nutritious and delicious that it struck an instant chord with the Slavic soul – and the Russian stomach. That grain was buckwheat. And because the first people to cultivate it here were Greeks, the Russians called it grechka”

BBC

Buckwheat is currently enjoying a revival in Western Europe due to its status as a trendy health food, although it has been a feature of Russian cuisine for centuries. It is such a ubiquitous feature of Russian meals, that when reports began to circulate last December of a low buckwheat crop yield, many Russians began ‘panic buying’ stores of buckwheat. In reality, the shortfall was minor. But the mere suggestion that supplies would be low prompted millions of Russians to rush out and stock up on the staple.

Mar 6

The Russian market: mixed views and performances

The Russian economy and market continue to be in a state of flux, and are likely to remain so for the foreseeable future. Falling oil prices and geopolitical events have led to analysts, investors, and ratings companies writing Russia off for 2015. However, there was considerable media coverage last week regarding the MICEX index, which is reportedly the best performing index so far this year (at 27%, compared to 14% for CAC40 and DAX in second place). This may be a temporary phenomenon, but it demonstrates that even a volatile market can generate considerable interest and investment opportunities. Continue reading

Jan 28

Lessons from theatre

“Третья способность души после ума и воли — творчество.”

Василий Андреевич Жуковский

“The third ability possessed by the soul after mind and will, is creativity.”

Vasily Zhukovsky, 19^th century Russian poet and translator

An interview which recently caught my eye considers the importance of professional cooperation and dialogue between Russia and countries such as Britain, drawing lessons from the world of theatre and drama. The interview with Anna Genina, an accomplished translator of British plays for joint Russo-British theatrical projects, notes the significance of cross-cultural differences in the context of interpersonal communication and translation. Continue reading

Jan 26

Hi-tech solutions

It is not widely known, but many mobile phones, cars and airplanes run software made by a Russian technology company, writes BNE. This company is Luxoft, valued at $684 million during its IPO in 2013, and a leader in an industry where Russia excels. Despite the momentary economic difficulties in Russia, Luxoft expects further growth in 2015, and its main markets remain in the US and Germany where it does around half of its business. This example highlights the potential of the tech sector in rejuvenating the Russian economy. Continue reading

Jan 12

A turbulent start to 2015

Russia was in the headlines last week, with economic figures breaking recent records, and the overall situation appearing quite dire. Brent crude has fallen to a five-year low, dipping temporarily below $50 a barrel, Russian foreign exchange reserves have fallen to the lowest levels in the last four years, the cost of insuring Russian bonds against default rose to the highest level in almost six years, and the Rouble fell again to around 63 per dollar.

Against such a backdrop, it is particularly interesting to note the conflicting reports on Russia’s sovereign debt that were issued by the world’s two leading rating agencies. Continue reading

Dec 30

Oil prices: drawing tenuous links

It will take time – a considerable amount of time – to objectively reflect on 2014. Much will depend on what happens in 2015 which, as Dengi recently noted, is now a matter of widespread speculation. With this turbulent year drawing to a close, it is worth remembering that it had started out with the Russian 10 year bond trading at an almost all time low, with a yield of under 8%. By the end of the year, the yield has reached the mid teens. Continue Reading

Dec 19

St Petersburg State University launches alumni association

“An investment in knowledge pays the best interest”

Benjamin Franklin

This year, Times Higher Education ranked St. Petersburg State University 64^th in the BRICS and Emerging Economies university ranking (up from 67^th last year). While this is still disgracefully low for a school that has 8 Nobel Prize winners amongst its graduates, this is far better than 10-15 years ago when the whole Russian education system faced neglect and under-financing.

Despite its world-class teaching standards, the institution has suffered from a lack of ‘structural’ and ‘organisational’ components, such as a communication programme with the alumni community, which is crucial to receiving good international rankings.

Dec 13

The Elgin Marbles at St Peterburg’s State Hermitage

While political relations between Russia and the West have cooled in recent months, there has been on-going and growing collaboration in a number of significant fields. For instance, it has gone almost unreported that a new ISS mission commenced last month, and the crew of the mission includes a European, an American and a Russian.

Last week, the British Museum announced that it had lent a selection of the Elgin Marbles to the Hermitage to celebrate its 250^th anniversary. The celebrations kicked off with a high-definition 3D mapping projection called the “Dance of History”, featuring videos illustrating the most significant historic events of St. Petersburg and the Hermitage. The festivities continued with the opening of a number of exhibitions, including an exhibition dedicated to the iconic British painter Francis Bacon and the reclining marble sculpture of the river god Ilissos, part of the Elgin marbles collection, which twenty five centuries ago decorated the facade of Greece’s Parthenon temple. continue reading