Financial News: The Bank of Russia has not identified any systemic risks in the retail investment market.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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The number of citizens involved in the Russian financial market has grown significantly in recent years, but this has not led to an increase in systemic risks. This is the conclusion reached by the Bank of Russia after analyzing the retail investment market.

Although unskilled retail investors predominate numerically, qualified investors, who account for the bulk of trading volume, have a decisive influence on market conditions and its stability. In 2025, they behaved countercyclically: reducing their investments during periods of market growth and increasing them during periods of decline, which helped limit price volatility. To increase market liquidity and maintain market stability, it is important for the number of investors with small and medium-sized portfolios to grow.

Most people prefer blue-chip stocks and the highest-quality bonds. They consistently add new instruments to their portfolios, diversifying their investments. However, retail investors' interest is primarily focused on financial and oil and gas securities, as well as government bonds, indicating a lack of sector diversification in their portfolios. This can negatively impact their investment returns during changing market cycles, so it's important to increase portfolio diversification across sectors.

Read more in the report Retail Investment Market.

Preview photo: Sfio Cracho / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Dmitry Grigorenko: The regions that lead the digital transformation rankings have been identified.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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The Belgorod, Sakhalin, and Chelyabinsk regions, the Khanty-Mansi Autonomous Okrug, and the Republic of Tatarstan topped the 2025 regional digital transformation rankings. The assessment was conducted based on 18 key indicators covering areas such as public service delivery, the implementation of artificial intelligence technologies, import substitution of digital solutions, and cybersecurity. The digital transformation of the regions is being overseen by Deputy Prime Minister and Chief of the Government Staff Dmitry Grigorenko.

"Today, regions are demonstrating rapid adoption of digital technologies in the social sphere and public administration. For us, the key criterion for the quality of this work is not formal reports, but concrete results for citizens and businesses. When compiling the digital transformation rating, we primarily evaluate how digital solutions improve people's quality of life, making it more comfortable and safer. It is also important to us that digital services are accessible to everyone, including residents of remote communities," noted Dmitry Grigorenko.

For the second year in a row, the Belgorod Region has been the leader in digitalization, achieving maximum results across most indicators. The region leads in resident satisfaction with e-services, IT mortgage development, and incentives for IT cluster participants and data centers (regional reduced property tax rates, tax exemptions under the simplified tax system). The region has implemented the innovative "Digital Water Utility" system: a digital twin powered by artificial intelligence has helped minimize water loss and reduce the number of accidents at 235 infrastructure facilities. The "Djinn" system, a digital service for interaction between residents and government authorities, has been launched. The system reduces response times to citizen inquiries from 48 to 24 hours, and the percentage of inquiries resolved within the specified timeframe has increased from 60% to 85%.

The second place in the ranking was shared by three regions, all of whom scored an equal number of points.

The Sakhalin Region is actively implementing artificial intelligence technologies. For example, as part of the "Safe City" project, neural networks analyze video streams from surveillance cameras, automatically identifying potential incidents, after which the information is transmitted to volunteers for further verification. Following this verification, every fourth signal is confirmed as truly dangerous. The region has also significantly improved its cybersecurity: response times to cyberattacks have been halved, and the total number of identified threats has already reached 77,000.

The Khanty-Mansi Autonomous Okrug – Yugra is developing digital services to improve the quality of life for residents of the region, including those in remote areas. For example, the "IT Camp" project has created 95 specialized platforms providing access to telemedicine and government services for indigenous peoples living in the Arctic zone. Additionally, the "Vika" chatbot in the Max messenger provides digital support to residents. It informs about school cancellations, helps with scheduling doctor appointments, and facilitates telemedicine consultations. The system handles an average of 10,000 doctor appointments and approximately 8,000 telemedicine consultations per week. Users can also quickly find out current fuel prices at specific gas stations and receive other useful information.

The Chelyabinsk Region is actively developing its digital infrastructure. By 2025, 65,000 residents of small towns in the region were connected to the internet, and 300 subsidized IT mortgages were issued under the regional IT support program. Furthermore, the region has approved its own artificial intelligence development strategy and is among the top three Russian regions in terms of the number of AI solutions implemented, as presented on the Digital Region portal.

The Republic of Tatarstan also entered the top three, thanks in part to the active implementation of AI-based digital solutions. In 2025, the region launched the GosPrompt platform for civil servants. The system covers approximately 150 different tasks, including preparing analytical materials, responding to citizen inquiries, aligning regulations with current legislation, analyzing resumes, and a number of other functions. Furthermore, the "Teacher Assistant" digital tool, which analyzes audio recordings of lessons, assesses the emotional background of the educational process, and generates recommendations for improving teaching effectiveness, has been launched.

The results presented reflect only a portion of the extensive work being undertaken by regions in the area of digital transformation. The federal city of Moscow is not included in the ranking.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial News: Boom in the Collective Investment Market: Results for 2025.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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Net inflows into mutual investment funds (MIFs) increased by more than a third in 2025, reaching 2.8 trillion rubles. This was just short of the 2023 record, when inflows exceeded 2.9 trillion rubles. Closed-end funds continued to account for the bulk of the inflows into MIFs.

However, last year, public interest in open-end bond mutual funds increased, with investments in them growing most rapidly. Money market exchange-traded funds also enjoyed popularity among investors, with returns remaining attractive despite the key rate cut.

The influx of funds and their positive returns accounted for the bulk of the growth in the value of management companies' client assets. In 2025, it grew by a quarter to 32.6 trillion rubles.

The volume of assets under trust management in the fourth quarter reached a new high since the beginning of monitoring in 2017, reaching 3.3 trillion rubles. Unqualified investors, who were exiting mass strategies, continued to be replaced by qualified investors with individual contracts. In total, retail investors invested 172 billion rubles in trust management, compared to 60 billion rubles the previous year.

Read more in"Review of key performance indicators of management companies for the fourth quarter of 2025".

Preview photo: Fish studio / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: Expanding availability of bond trading.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

In continuation news Regarding changes to the stock and currency market systems planned for March 23, 2026, we are announcing expanded availability of bond trading. Starting March 23, bond trading will be available in the TQCB, PSOB, and PTOB modes during an additional morning trading session. For the TQCB mode, additional price fluctuation limits will apply during the morning session: ±5% of the previous trading day's closing price. Orders exceeding these limits will be rejected by the system.

The list of instruments for the morning session, effective March 23, 2026, will be expanded to include bonds traded in the T-Quarter Trading Mode with Ruble Settlement (TQCB). For securities admitted to the morning session, the opening auction will not be repeated during the main session, as is already the case for OFZs.

Starting April 13, 2026, all remaining bonds (traded in the "Bonds D – Main Trading Mode," "Bonds D – Negotiated Trading System," "Bonds D – Negotiated Trading System with Central Counterparty," and "Main Trading Mode T," Negotiated Trading System, and Negotiated Trading System with Central Counterparty with yuan settlements) will be added to the additional morning trading session and evening trading session. Additional price fluctuation limits will apply for non-addressed trading modes:

±5% of the previous trading day's closing price for the morning session; ±10% of the current trading day's closing price for the evening session.

The full list of changes planned for the release has been updated and is available at the following link: https://fs.moex.com/f/23581/version-2026-1.pdf.

Contact information for media: 7 (495) 363-3232PR@moex.com

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Financial news: New fixings for precious metals.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

In continuation news Regarding the changes planned for March 23, 2026, in the stock and currency market system, we announce the addition of new instruments for precious metals.

Starting March 23, Moscow Exchange will introduce new fixings for precious metals:

SILVFIXME — silver fixing tool (tool SLVRUB_TOM); PLATFIXME — platinum fixing tool (tool PLTRUB_TOM); PALADFIXME — palladium fixing tool (tool PLDRUB_TOM).

New fixing values are calculated similarly to GOLDFIXME. Calculations are performed daily between 11:30:01 and 12:30:00. Values are determined with an accuracy of two decimal places; the Q parameter is set to 1.

Fixings will be broadcast to external sources similar to GOLDFIXME. New fixings will be added to the following pages on the Moscow Exchange website:

The full list of changes planned for the release has been updated and is available at the following link: https://fs.moex.com/f/23581/version-2026-1.pdf.

Contact information for media: 7 (495) 363-3232PR@moex.com

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Marat Khusnullin: Volunteer recruitment for voting on improvement projects has begun.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Russia has begun recruiting volunteers for a nationwide vote on improvement projects. Applications to join the volunteer corps can be submitted starting March 12 on the Dobro.RF platform. Deputy Prime Minister Marat Khusnullin announced the announcement.

“One of the country’s national development goals is a comfortable and safe living environment. The national project "Infrastructure for Life" is an integral tool for achieving this. Within this framework, we are consistently working with regions and municipalities to improve public spaces, and this is yielding tangible results. It is important that residents themselves choose which places in their cities will be transformed. This is why the all-Russian vote on improvement projects, which has been held since 2021 and has garnered 68 million votes to date, has become extremely popular. The voting geography is expanding—1,667 municipalities can now participate. In 2025, the reunified regions joined the vote for the third time, with projects receiving nearly 131,000 votes. Volunteers in this process act as guides for residents, helping them participate in the voting. Over the course of this period, more than 500,000 volunteers have contributed to the improvement of cities. We greatly appreciate their assistance—thanks to the activity of volunteers, more and more Russians are getting involved in addressing their development issues. cities,” noted Marat Khusnullin.

Volunteer support for the project has been ongoing for the sixth year. Volunteer tasks were included in the agenda for discussion at the "There Are Results!" reporting and program forum, held by United Russia in Rostov-on-Don. These tasks include informing residents about public space design projects and helping them vote for their favorite projects through the government services portal, including parks, embankments, squares, pedestrian and recreational areas, and central city squares proposed for improvement. Volunteers also answer citizens' questions about project implementation timelines, how to initiate initiatives and propose their own projects, and more.

"Experience shows that when there's someone nearby who can explain and offer advice, people are much more active in voting. Last year, during the fifth all-Russian online vote, approximately 170,000 volunteers participated and helped 60% of citizens cast their ballots, collecting nearly 9.5 million votes. It's worth noting that residents not only vote for selected projects but also initiate change themselves, proposing projects for improvement during the list compilation stage. This creates a comprehensive feedback system between citizens and government authorities on urban development issues. Volunteers who help residents make their choices are part of the larger process of transforming our country. I encourage all concerned individuals to join the Dobro.RF volunteer team and contribute to Russia's development," said Deputy Minister of Construction and Housing and Utilities Alexey Yeresko.

Among the areas created thanks to voting are, for example, the Energy of Sport Park in the city of Ruzayevka in the Republic of Mordovia, for which over 10,000 people voted; the Molodezhny Innovation Park in the city of Gubkinsky in the Yamalo-Nenets Autonomous Okrug, with its developed infrastructure and art installations, which received 3,000 votes; and the Heroic Pilots Park in the Dzerzhinsky District of Volgograd, with its children's and sports town, which received 24,000 votes.

"The project's volunteer corps has grown exponentially over the past six years. While just over 11,000 volunteers participated in 2021, today it represents hundreds of thousands of people across the country. This growth reflects the coordinated work of regional headquarters, the Dobro.RF team, and the high demand from people to participate. The project gives everyone the opportunity to get involved, see results, and personally influence the future of their city. A new season is upon us, and we are confident that active volunteers and those who are just starting out will continue to strengthen the movement," noted Artyom Metelev, Chairman of the State Duma Committee on Youth Policy, Head of the Dobro.RF ecosystem, and member of the United Russia faction.

In 2026, the all-Russian vote is planned to be held not only in municipalities with populations over 20,000 but also in municipalities where key population centers are located. Volunteers will inform residents about the projects at information points and public spaces and will also assist with voting using a simplified format. Anyone over the age of 14 can become a volunteer.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Dmitry Grigorenko: The first meeting of the government subcommittee on the development of artificial intelligence took place.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Deputy Prime Minister and Chief of the Government Staff Dmitry Grigorenko held the first meeting of the subcommittee on the development and implementation of artificial intelligence technologies. The subcommittee was established in early March to coordinate operationally with the unified headquarters—the Presidential Commission on the Development of Artificial Intelligence Technologies.

During the first meeting, the central topic of discussion was the development of key performance indicators (KPIs) for the implementation of AI in economic sectors, public administration, and the social sphere. Federal ministries and agencies presented their proposals for developing KPIs. This is the first approach to defining target indicators; they will be further refined.

"Today, the first meeting of the government subcommittee on AI development and implementation took place. The main agenda item was the development of target indicators for AI implementation in key areas. Our goal is to develop KPIs that don't simply document AI implementation, but truly reflect the scale and real effectiveness of the technology's application in the economy, social sphere, and public administration. Importantly, these indicators are developed with the expertise of relevant specialists," commented Dmitry Grigorenko.

The meeting also discussed legal regulation of artificial intelligence technologies, as well as future tasks to determine industries' needs for computing infrastructure for AI implementation.

The subcommittee is focused on addressing practical and operational issues in the development of artificial intelligence. Its members include Minister of Industry and Trade Anton Alikhanov, Minister of Education Sergey Kravtsov, Minister of Agriculture Oksana Lut, Minister of Health Mikhail Murashko, Minister of Economic Development Maxim Reshetnikov, Minister of Science and Higher Education Valery Falkov, Minister of Energy Sergey Tsivilev, Minister of Digital Development, Communications, and Mass Media Maksut Shadayev, Governor of the Moscow Region Andrey Vorobyov, as well as representatives of the Ministry of Finance, Ministry of Justice, Ministry of Defense, FSB, the Moscow government, and others.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Dmitry Grigorenko: Russia has established a unified system of cooperation between government agencies to develop artificial intelligence.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Document

Order No. 435-r of March 6, 2026

The government has created a subcommittee on the development and implementation of artificial intelligence technologies. It will address emerging issues related to AI implementation in various sectors and coordinate the work of agencies, working with the unified headquarters—the Presidential Commission on the Development of Artificial Intelligence Technologies. Deputy Prime Minister and Chief of the Government Staff Dmitry Grigorenko has been appointed head of the subcommittee. The corresponding resolution has been signed.

Thus, a unified three-tier system of government cooperation for the development of artificial intelligence in Russia has been established. It encompasses the federal and regional levels of government, as well as law enforcement agencies. This structure synchronizes the work of government agencies on AI implementation and accelerates the resolution of tasks requiring interdepartmental cooperation.

At the helm of this system is a single headquarters—the Presidential Commission on Artificial Intelligence Development. It is headed by Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin and Deputy Prime Minister Dmitry Grigorenko. The commission determines the AI development strategy, key priorities, and coordinates work at the federal level.

The subcommittee, established at the government level, acts as an internal government headquarters: its functions are primarily operational and applied. Its responsibilities include coordinating the implementation of AI in the economy, social sphere, and public administration, coordinating the work of federal agencies, identifying priority areas for implementation, developing criteria for Russian AI models, developing plans for the development of AI data centers, and formulating specific government support measures for the industry.

At the regional level, similar interdepartmental headquarters are being established, led by senior officials from the constituent entities of the Russian Federation. The regional headquarters' task is to coordinate AI implementation at the regional level, collect relevant proposals, and submit them to the federal level.

"Artificial intelligence is a dynamically developing technology. Its implementation requires rapid coordination and timely decision-making. A government-level subcommittee is taking on this task. We are breaking down the established goals into specific plans and activities. Specifically, we are working with federal ministries and agencies to address practical issues, such as setting implementation targets, developing industry support measures, developing data centers, and ensuring developers have access to data," said Dmitry Grigorenko.

The government subcommittee included Minister of Industry and Trade Anton Alikhanov, Minister of Education Sergei Kravtsov, Minister of Agriculture Oksana Lut, Minister of Health Mikhail Murashko, Minister of Economic Development Maxim Reshetnikov, Minister of Science and Higher Education Valery Falkov, Minister of Energy Sergei Tsivilev, Minister of Digital Development, Communications and Mass Media Maksut Shadayev, Governor of the Moscow Region Andrei Vorobyov, as well as representatives of the Ministry of Finance, the Ministry of Justice, the Ministry of Defense, the Federal Security Service of Russia, the Moscow government, and others.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Dmitry Chernyshenko: More than 2.5 million people are involved in the "Professionals" movement in 2026.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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The results of the regional stage of the all-Russian "Professionals" professional skills championship, which took place in all 89 constituent entities of the Russian Federation, including historical regions, have been announced. Deputy Prime Minister Dmitry Chernyshenko and Minister of Education Sergei Kravtsov presented the key results.

"Our President, Vladimir Vladimirovich Putin, notes that the prestige of blue-collar jobs and their demand in the labor market are growing. The "Professionals" movement, part of the "Youth and Children" national project, helps support young professionals. This year, it involved 2.5 million people—contestants, experts, and employers. This is twice as many as the previous year. We thank our mentors, partners, and industry experts for their contribution to the movement's development," emphasized Dmitry Chernyshenko.

He added that during the regional stage of the "Professionals" championship, more than 510,000 college and technical school students and approximately 34,000 schoolchildren competed in professional skills across the country.

The number of educational institutions participating in the regional stage exceeded 3,600, of which approximately 1,000 are participants in the federal "Professionality" project, said Education Minister Sergei Kravtsov. He noted that the implementation of the federal project has enabled a transition to a training ecosystem that begins long before college admission, at the professional discovery stage. Career guidance events for young people are an important part of the "Professionals" movement.

"Career guidance events at the regional stages of the 'Professionals' movement are growing in popularity. This is an opportunity for young people to learn about professions and choose their career path. This year, 1.5 million schoolchildren participated in the career guidance program—three times more than last year. The 'Professionals' movement provides real-world experience and helps young people make informed choices," noted Sergey Kravtsov.

The "Professionals" competition tracks cover all sectors of the Russian economy related to ensuring the country's technological leadership. At the regional stage, competitions were held in 299 competencies, including 26% in the "Industry and Engineering Technologies" sector, 18% in "Transport and Logistics," 12% in "Digital Technologies," 10% in "Construction Technologies," 6% in "Agricultural Technologies," and others.

In 2026, the regional stage featured competitions in 20 new competencies, including the 2025 High-Tech Championship competencies focused on national security and dual-use technologies. These included "Research of New Substances and Materials," "Cyber-Immune Autonomy," "Patient Digital Twin," "Paramedic for Medical Rehabilitation," and "Fiber-Optic Communication Technologies for Unmanned Aircraft Systems."

More than 9,600 partner companies participated in the regional stage of the championship—2,100 more than the previous year. The number of industrial experts also increased, reaching 10,500.

More than 7,400 winners and prize winners of the regional stage will take part in the final (interregional) stage of the All-Russian championship movement in professional skills "Professionals".

The "Professionals" movement aims to support talented youth, strengthen human resources, and ensure Russia's technological leadership. It was organized with the support of the Russian Ministry of Education. The federal operator is the Institute for the Development of Professional Education.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Marat Khusnullin took part in a meeting of the board of Rostekhnadzor.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

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Deputy Prime Minister Marat Khusnullin attended a board meeting of the Federal Service for Environmental, Technological, and Nuclear Supervision, where the agency's work in 2025 and key objectives for the current year were discussed.

"Rostekhnadzor is actively involved in implementing key national projects, including industrial, residential, and road construction, improving the safety of hydraulic structures, including during flood periods, and increasing the accountability of utility providers. The agency's effective work significantly contributes to shortening the investment and construction cycle and ensuring a reliable heating season. Furthermore, extensive and comprehensive work continues to integrate the reunited regions into the national economy. Rostekhnadzor's top priority is ensuring safety. At the same time, it is important to find a balance between the unconditional fulfillment of control tasks and reducing excessive administrative burdens. I thank the Rostekhnadzor team for their challenging and highly responsible work, which is important for the entire country," said Marat Khusnullin.

According to the Deputy Prime Minister, in 2025, 1,716 certificates of compliance of constructed and reconstructed capital construction projects (and their stages) with design documentation requirements were issued, 60% of which were industrial facilities.

The service oversees more than 200,000 hazardous industrial facilities operating in all sectors of industry, more than 1.2 million energy facilities, more than 20,000 hydraulic structures, 8,000 construction supervision facilities, as well as 59 power units at 13 nuclear power plants in the country.

In his report, Rostekhnadzor Head Alexander Trembitsky stated that the agency carries out oversight functions in 28 industry areas. "We are systematically working to improve regulatory frameworks, streamline mandatory requirements, and closely collaborate with supervised organizations, relevant ministries, and agencies. One of the key indicators is a stable, year-over-year reduction in accidents and incidents at hazardous industrial facilities," Trembitsky noted.

A formal awards ceremony was held during the board meeting. The Deputy Prime Minister presented state awards and incentives from the President of the Russian Federation. Rostekhnadzor employees were also awarded departmental awards and Ministry of Defense awards.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.