The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
The other day, I couldn't contain myself after reading of another huge loss by Malaysia Airlines (MAS) and thus blogged about the problem with MAS , which is mainly down to mismanagement and the lack of serious and fair competition in the country. Well, my frustration was shared by AirAsia boss, Tony Fernandes, who tweeted, "I wonder if it's fair that Malaysia Airlines can lose so much money and protect its market share. Can only do that with taxpayers money." I couldn't helped but to agree...while external factors such as the increase of crude oil and other factors could contribute to this, MAS could at least show some improvement, which is hardly reflected on the financial statement and their balance sheet. A bit of history of MAS could tell us a clearer picture of the direction of the Malaysia airline company. Prior to the Asian Financial Crisis in 1997 MAS had recorded losses as much as RM260 million. This was after their record...