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Russia and China ‘ditch’ dollar and increase use of euro

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Russia and China are building a “financial alliance” and look set to “ditch” the dollar, according to a report on the Nikkei Asian Review website. 

The financial news website reports that the US dollar’s share of trade between Russia and China “fell below 50 percent for the first time on record” in the first quarter of 2020.

The source of the statistic is Russia’s Central Bank and Federal Customs Service, which published figures showing that a relatively low 46 percent of trade transactions between China and Russia were conducted or completed in US dollars. [Read more…] about Russia and China ‘ditch’ dollar and increase use of euro

Severstal expands automation capabilities with second investment in Airborne

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PAO Severstal, one of the world’s largest vertically integrated steel and mining companies, has led a second tranche of investment into Dutch company Airborne, a developer of digital automation platforms for the production of composite parts and products with integrated composites.

The total investment in Airborne has already amounted to “several tens of millions of dollars”, says Severstal.

In spite of the crisis caused by the coronavirus pandemic, which has led to many venture projects on the global market being placed on hold, Severstal led the new investment in Airborne with support of existing shareholders including HPE Growth. [Read more…] about Severstal expands automation capabilities with second investment in Airborne

CeMAT Russia provides comprehensive overview of intralogistics

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CeMAT Russia ran from 24 to 26 September 2019 at the IEC Crocus Expo in Moscow.

The tradeshow for materials handling, warehousing equipment and logistics featured more than 150 exhibiting companies and attracted 5,700 visitors, solidifying its position as the only intralogistics event in Russia with such a diverse portfolio.

On occasion of its tenth anniversary in 2019, CeMAT Russia expanded its exhibit program to include even more products, equipment and solutions for warehousing, intralogistics and supply chain management. [Read more…] about CeMAT Russia provides comprehensive overview of intralogistics

CeMAT established as Russia’s leading intralogistics trade fair, says organiser

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CeMAT has established itself as Russia’s leading intralogistics trade fair, according to organiser Deutsche Messe.

CeMAT Russia is on a course for continued growth. Featuring more than 150 exhibitors, this year’s edition will be staged in two halls at the Crocus Expo International Exhibition Center in Moscow, with the first-time inclusion of the open-air site.

Leading exhibitors include companies like Beumer, Honeywell, Interroll, Haulotte, Kardex, Komatsu, Linde, Manitou, SAP, SSI Schaeffer, TVH and Vanderlande. [Read more…] about CeMAT established as Russia’s leading intralogistics trade fair, says organiser

Daimler lays foundation stone for $280 million Mercedes-Benz plant in Russia

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Bense, von Fritsch, Schaefer, Manturov, Ruess and Vorobyov attend a new Mercedes-Benz plant's cornerstone laying ceremony in the town of Esipovo outside Moscow
Mercedes-Benz Manufacturing Rus CEO Axel Bense, Germany’s Ambassador to Russia Ruediger von Fritsch, member of the divisional board of Mercedes-Benz Cars Markus Schaefer, Russian Industry and Trade Minister Denis Manturov, head of production planning of Mercedes-Benz Cars Rainer Ruess and Moscow Regional Governor Andrei Vorobyov attend a new Mercedes-Benz plant’s cornerstone laying ceremony in the town of Esipovo outside Moscow, Russia earlier this week. Reuters / Tatyana Makeyeva

By Jack Stubbs, Reuters

Daimler began construction of a new Mercedes-Benz plant near Moscow this week, following through on the first new investment by a major foreign automaker in Russia since Western sanctions were imposed three years ago.

Daimler said in February that it will invest more than $280 million in the factory, contrasting with widespread wariness among international investors after a prolonged downturn brought on by sanctions and a collapse in global oil prices.

But Russia’s economy has recently shown signs of recovery, while its car market is returning to growth after four years of decline.  [Read more…] about Daimler lays foundation stone for $280 million Mercedes-Benz plant in Russia

Chinese robotic spacecraft completes second refuelling test, as Russia launches robotic cargo ship to International Space Station

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China and Russia have both launched robotic spacecraft on cargo missions recently, according to reports in the media. 

Chinese state news agency Xinhua says the Tiangong-2 space lab and Tianzhou-1 completed a second refuelling test which “cemented technical results from the first refuelling”.

According to Space.com, the refuelling procedure requires 29 steps to complete and lasts for several days.  [Read more…] about Chinese robotic spacecraft completes second refuelling test, as Russia launches robotic cargo ship to International Space Station

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