Russia's Yandex ups 2021 e-commerce investment plan to $650 mln -CFO

Russian internet firm Yandex plans to invest around $650 million in e-commerce projects this year, Chief Financial Officer Svetlana Demyashkevich said on Wednesday, higher than the previous plan of $400-500 million.

Demyashkevich said Yandex, which reported strong second-quarter results earlier on Wednesday, was committed to allocating substantial capital in its e-commerce initiatives, but said providing a specific figure for next year and beyond was hard.

Also Read: Olympics-Swimming-FINA provisionally suspends two Russians set for Tokyo