X5 squeezes “Crossroads” // The chain will open stores of reduced format

Perekrestok chain manager X5 Group began testing a new store format under this brand. The points will be located in rooms up to 300 sq. m, and their assortment will be five times less than in the classic supermarket of the chain. Earlier, the attempt to develop the Perekrestok-Express chain of small stores was not … Read more

Beauty conquers the virus // The turnover of the beauty industry is growing

After last year’s fall in demand for aesthetic medicine services, this year market players are seeing an increase of 30%. However, there is almost no influx of new patients: the revenue of specialized clinics was provided by those who could not use their services a year ago due to a lockdown. At the same time, … Read more

“Alpha” enters a taxi station // The structure of the group is preparing to buy out a land plot for a business center

Mikhail Fridman’s Alfa Group is seeking control over a land plot next to Sber’s headquarters in southwestern Moscow. Here, on the site of a former taxi company, an investment fund managed by the group plans to build a business center by 2025 in partnership with Stone Hedge. The new office complex will be built for … Read more

Escrow question // How project financing has strengthened in the development business

In Russia, the transition of housing developers to project financing and attracting funds from co-investors through escrow accounts is nearing completion. But this experience was not painless for all equity holders. Kommersant found out that the new rules do not fully protect home buyers from investment losses and demolition of already built houses. …

Turkish lira falls to new lows

At auction on Friday morning, December 3, the Turkish currency fell to 13.89 lira per dollar, which is an anti-record. This happened against the background of the decision of the international rating agency Fitch, which changed the country’s outlook from “stable” to “negative.” After that, the Central Bank of Turkey announced direct foreign exchange interventions. … Read more