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Stuart Lawson Appointed Representative of the Management Board of the Moscow branch of the RBCC
Moscow, 1 March 2017
Stuart Lawson, EY’s Senior Advisor for Financial Institutions and Government Initiatives in Russia and the CIS and Head of the EY’s UK Business Centre has been appointed a Representative of the Management Board of the Moscow branch of the Russo-British Chamber of Commerce (RBCC).
Strong global investment appetite into Europe despite geopolitical instability
London, Moscow, 3 February 2017
Despite current geopolitical and financial market volatility, investment plans into Europe over the next three years are strong, with 56% of global investors planning to grow their presence in Europe, according to the EY 2017 European attractiveness survey – Plan B for Brexit. This contrasts with the findings from the EY survey conducted last May, which found that only 36% of European investors had a positive investment outlook for Europe.
Mikhail Romanov to become EY CIS Advisory Leader
Moscow, 24 November 2016
Mikhail Romanov will become EY CIS Advisory Leader effective 1 January 2017. He will succeed Philippe Peters, who will combine the roles of EMEIA Leader for Strategy and EMEIA Leader for Customer, both within the Advisory Service.
Alexander Ivlev named Russia’s Best CEO by Managers Association and Publishing House Kommersant
Moscow, 26 October 2016
EY Managing Partner for Russia Alexander Ivlev has won in the Russia Best Top Executive (CEO) category at the 2016 Top 1,000 Russian Managers Awards. Earlier Mr. Ivlev was also placed first in a separate category for best-performing top managers of professional services firms.
EY to move to Self-Regulating Organization "Russian Union of Auditors"
Moscow, 14 October 2016
Considering the new requirements with respect to a minimum number of members in auditors' self-regulating organizations, as set forth in Article 17 of Federal Law No. 307-FZ of the Russian Federation "On Auditing Activity", which enter into force on 1 January 2017, Ernst & Young LLC and Ernst & Young Vneshaudit LLC have decided to move to the Self-Regulating Organization "Russian Union of Auditors" (RUA).
EY reports record global revenues in 2016 – up by 9%
London, Moscow, 13 October 2016
EY today announces combined global revenues of US$29.6b for its financial year ended 30 June 2016. Overall, financial year (FY) 2016 revenue grew by 9% in local currency (versus FY15). Since the launch of its Vision 2020 plan in 2013, EY has recorded a strong 9.2% compound annual growth rate.
Uncertainty puts IPOs on hold in 2016, but pipeline is strong for 2017
London, Moscow, 11 October 2016
Unprecedented levels of geopolitical uncertainty are weighing heavily on dealmakers, despite improving economic fundamentals, suggesting 2016 will be a slow year for IPOs globally, according to the quarterly EY Global IPO Trends: 2016 3Q.
Lower for longer oil price outlook drives global change in tax structures
London, Moscow, 6 September 2016
A lower for longer oil price consensus is pushing more governments to rethink current tax structures and follow the example of those who have already made adjustments, EY says while launching its 2016 Global oil and gas tax guide.
Growing confidence translates into 93% quarterly increase in global mining and metals deal value
London, Moscow, 19 August 2016
Global mining and metals mergers and acquisitions (M&A) deal value nearly doubled in the second quarter of the year – rising 93% to US$7.8b from US$4.1b in Q1 2016, according to latest data analyzed by EY.
Foreign investors return to Russia
Moscow, 16 June 2016
The number of FDI projects in Russia grew 61% to 201 in 2015. According to EY’s 2016 European Attractiveness Survey, this is one of the best results for Russia since 2005. Manufacturing was in the spotlight of foreign investors.
Manny Stul of Moose Enterprise from Australia named EY World Entrepreneur Of The Year 2016
Monaco, Moscow, 15 June 2016
Manny Stul, Chairman and Co-CEO of Melbourne-based toy company Moose Enterprise, was named on 11 June EY World Entrepreneur Of The Year 2016 at an awards ceremony held in Monaco’s Salle des Etoiles. Manny was picked from among the 55 country winners from 50 countries vying for the title.
FinTech Adoption Index in Moscow and St Petersburg exceeded that in world’s other largest cities
Moscow, 15 June 2016
Even though Russian online adoption is lower compared with major global financial centers, the FinTech market is developing very rapidly, and Moscow and St. Petersburg have produced the best results among the comparable global leaders in FinTech adoption rate: the percentage of FinTech users in two major Russian cities amounted to 35%.
While global response to BEPS is cautious, Europe is increasingly leading the drive toward implementation
London, Moscow, 24 May 2016
Most countries globally are moving cautiously in their response to the G20/OECD’s Base Erosion and Profit Shifting (BEPS) project, with Europe setting the precedent for tax reform. This is according to EY’s Outlook for global tax policy in 2016, which combines insights and forecasts from EY tax policy professionals in 38 jurisdictions across the globe.
Global IPO volume down in first quarter as issuers wait for market conditions to improve
London, Moscow, 19 May 2016
Global IPO activity slowed significantly in Q1 2016 with a total of 167 deals raising just US$12.1b according to the quarterly EY Global IPO Trends: 2016 1Q. This represents the weakest first quarter since 2009 with a 39% drop in volume and a 70% decline in total capital raised compared with the same period last year.
Increasing global cooperation in enforcement against corruption raises the stakes for companies and their executives
London, Moscow, 22 April 2016
EY’s 14th Global Fraud Survey 2016: Corporate misconduct – individual consequences finds a worldwide clamor for enhanced transparency at a time of increased geopolitical tensions and heightened volatility in financial markets.
CFOs concerned about effectiveness of corporate reporting
London, Moscow, 24 March 2016
CFOs are losing confidence in corporate reporting and its effectiveness, as pressure from audit committees, the complexity of implementing new reporting requirements and reporting overload affect performance, according to the annual survey by EY’s Financial Accounting and Advisory Services (FAAS), Are you prepared for corporate reporting’s perfect storm?
New risks for business as indirect tax regimes sweep the globe
London, Moscow, 22 March 2016
More countries than ever are adopting indirect tax regimes as they respond to revenue shortfalls and digital innovation, according to EY’s Indirect Tax in 2016 – an in-depth review of indirect tax developments and trends across more than 100 jurisdictions. The report also finds that the global trend for increasing indirect tax rates continues, and identifies new risks for businesses adapting to unparalleled change in the tax landscape.
Biopharma M&A soars in 2015: Is this the new normal?
San Francisco, Moscow, 29 February 2016
Mergers and acquisitions (M&A) in the biopharmaceutical industry skyrocketed in 2015, with the value of 2015 announced deals totalling more than US$300b, a new record for the industry, according to EY’s Firepower Index and Growth Gap Report 2016, released today. Much of this activity was driven by companies seeking to create more focused businesses and close persistent revenue “growth gaps".
Banks rethink risk management with a focus on front-office accountability
London, Moscow, 26 February 2016
Bank boards and management are increasing their focus on risk management and are holding front-office staff more responsible as they address regulatory pressure, investor demands and the high cost of past misconduct. This is according to EY’s 2015 risk management survey of major financial institutions, Rethinking risk management: banks focus on non-financial risks and accountability.
Industry distress to fuel oil and gas transaction activity as crude price dives
London, Moscow, 25 February 2016
More oil and gas companies are expected to succumb to stress in the sector, which will drive transactions in 2016, after global deal volume and value fell short of expectations in 2015, dropping by 33% and 17% respectively year-on-year.
Debt and earnings disconnect leaves mining companies vulnerable
London, Moscow, 27 January 2016
Mining companies globally are factoring in ‘lower for longer’ commodity prices as leverage levels across the sector stretch balance sheets and trigger a flood of asset sales, according to EY Global Mining & Metals Transactions Leader, Lee Downham, in response to EY’s Debt in the mining sector report.
Low oil prices highlighted the need of operational excellence for oil and gas companies
Moscow, 25 January 2016
The sustained reduction in oil and gas prices, coupled with a forecast of modest recovery, requires the industry to apply increased focus and rigor to operations performance. According to EY’s report “Driving operational performance in oil and gas”, 77% of companies currently have an operational excellence (OE) program or have previously run an OE program, but even the most successful OE programs have room for improvement.
ETF industry expects nearly 18% growth per year over next three to five years
London, Moscow, 18 January 2016
Exchange traded fund (ETF) businesses expect to grow by nearly 18% per year for the next three to five years, as they continue to gain market share from traditional active asset managers and passive mutual funds, institutional investors increasing their allocations to ETFs, and innovative products driving growth, according to the EY Global ETF Survey 2015 ETFs: a positive force for disruption.
The first session of ‘Russia’s regions: new growth areas’ to take place on December 24, 2015 in Nizhny Novgorod
Moscow, 16 December 2015
The St. Petersburg International Economic Forum is to launch a cycle of events on the topic of ‘Russia’s regions: new growth areas’ in collaboration with the Russian Export Center (REC) and the Agency for Strategic Initiatives (ASI), aimed at developing investment opportunities, improving the export potential of Russia’s regions and promoting specific territories.
More than one-third of global organizations still lack confidence in their ability to detect sophisticated cyber attacks, EY survey finds
London, Moscow, 2 December 2015
More than one-third (36%) of global organizations still lack confidence in their ability to detect sophisticated cyber attacks, according to the annual EY’s Global Information Security Survey 2015, Creating trust in the digital world.