Russia's tech giant Yandex is successfully competing with Google in the Russian market, but not without the support of the Russian state, President Vladimir Putin said during his annual "Direct Line" Q&A session on Thursday
MOSCOW (Pakistan Point News / Sputnik - 20th June, 2019) Russia's tech giant Yandex is successfully competing with Google in the Russian market, but not without the support of the Russian state, President Vladimir Putin said during his annual "Direct Line" Q&A session on Thursday."We have open market, it is unprotected, and our company, such a great company as yours, Yandex, is successfully competing in our market with such giants as Google, after all, this also is not without the support of the state," Putin said during a call-in session, addressing the Yandex director general in Russia, Elena Bunina.
Following Putin's remarks on protecting the Russian segment of the internet and state support for Yandex, the shares of the Russian tech giant reached a new historical maximum of 2,531.6 rubles, compared with 2,519 rubles last March, according to Moscow's stock exchange data.
Yandex provides Internet-related services, including transportation, navigation, search and information services and e-commerce.
In the fourth quarter of 2018, its net income was 5.9 billion rubles ($93.3 million at current rate).
