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...
MAHATHIR & Co: "THE CITIZENS DECLARATION"
Four days after quitting UMNO, Tun Dr Mahathir Mohamad sat with his old political allies and foes at a packed press conference last Friday to get the people's support to sign a declaration seeking Najib's removal.
This sounds a lot like "Avengers" in real life...haha!! Well, Mahathir is definitely no angel himself but it's interesting to see how this will eventually turn out.
Anyway, among those present were Selangor Menteri Besar, Datuk Seri Mohamed Azmin Ali, DAP parliamentary chief Lim Kit Siang, former deputy minister Tan Sri Muhyiddin Yassin and former MCA president, Tun Dr Ling Liong Sik.
58 individuals called "The Citizens Declaration" that day. The former and longest Malaysia's prime minister, Tun Dr Mahathir said Najib's removal from office must be through "non-violent legally permissible means."
Asked if his collaboration with the Opposition would lead him to join Pakatan Harapan, Dr Mahathir said it was not the case."We are all here today as concerned Malaysians.
There's a difference between the citizens' agenda and party agenda. The media must understand that," he said when asked if he was now endorsing the Opposition's goals.
Muhyiddin said he was not afraid that the party would take further action against him following his decision to sign the declaration."Even if I'm still an Umno member, I'm firstly a citizen of Malaysia and have the right to speak," he said.
Azmin, who is the Selangor Mentri Besar, said the citizens' movement was consistent with PKR's stand all along.
"Anwar (Ibrahim) made a strong stand from prison yesterday to support this position (taken by Dr Mahathir). We are all concerned citizens who are here to support the initiative," he said.
Putrajaya responded by saying Dr Mahathir should follow the democratic process and wait for the next general election if he wants a change of government.
Well, Mahathir has made his move. Let's see what's up next for Najib & Co. Things about to get interesting.
(Sourses: AsiaOne news report)
PAC: Final 1MDB report under OSA to "protect credibility"
The long-awaited final audit report on 1Malaysia Development Bhd has been classified under the Official Secrets Act (OSA).
PAC member Tony Pua, who spoke to reporters who were barred from covering the PAC meeting held in Parliament yesterday, said the report had been classified as an official secret by the National Security Council (NSC).
He was asked if the classification of the report was made by the PAC or the Attorney-General's Chamber.
Pua said the A-G had submitted the report to the NSC which did the classification. The report was handed back to the PAC which met at Parliament yesterday.
Pua said the meeting went smoothly and would continue on Monday.
"However, since it is classified under the OSA, we will not be able to take it back with us," he said.
PAC vice-chief Dr Tan Seng Giaw said any government organisation could apply for OSA classification, but did not elaborate.
PAC chairman Hasan Arifin said the PAC accepted and appreciated the action of the A-G's Department to classify the final report under the OSA.
"The Auditor-General has the legal power to do so in order to uphold the credibility and integrity of the department," he said.
Four days after quitting UMNO, Tun Dr Mahathir Mohamad sat with his old political allies and foes at a packed press conference last Friday to get the people's support to sign a declaration seeking Najib's removal.
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| The Citizens' Declaration |
Anyway, among those present were Selangor Menteri Besar, Datuk Seri Mohamed Azmin Ali, DAP parliamentary chief Lim Kit Siang, former deputy minister Tan Sri Muhyiddin Yassin and former MCA president, Tun Dr Ling Liong Sik.
58 individuals called "The Citizens Declaration" that day. The former and longest Malaysia's prime minister, Tun Dr Mahathir said Najib's removal from office must be through "non-violent legally permissible means."
Asked if his collaboration with the Opposition would lead him to join Pakatan Harapan, Dr Mahathir said it was not the case."We are all here today as concerned Malaysians.
There's a difference between the citizens' agenda and party agenda. The media must understand that," he said when asked if he was now endorsing the Opposition's goals.
Muhyiddin said he was not afraid that the party would take further action against him following his decision to sign the declaration."Even if I'm still an Umno member, I'm firstly a citizen of Malaysia and have the right to speak," he said.
Azmin, who is the Selangor Mentri Besar, said the citizens' movement was consistent with PKR's stand all along.
"Anwar (Ibrahim) made a strong stand from prison yesterday to support this position (taken by Dr Mahathir). We are all concerned citizens who are here to support the initiative," he said.
Putrajaya responded by saying Dr Mahathir should follow the democratic process and wait for the next general election if he wants a change of government.
Well, Mahathir has made his move. Let's see what's up next for Najib & Co. Things about to get interesting.
(Sourses: AsiaOne news report)
PAC: Final 1MDB report under OSA to "protect credibility"
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| 1MDB report under "OSA" to "PROTECT CREDIBILITY |
PAC member Tony Pua, who spoke to reporters who were barred from covering the PAC meeting held in Parliament yesterday, said the report had been classified as an official secret by the National Security Council (NSC).
He was asked if the classification of the report was made by the PAC or the Attorney-General's Chamber.
Pua said the A-G had submitted the report to the NSC which did the classification. The report was handed back to the PAC which met at Parliament yesterday.
Pua said the meeting went smoothly and would continue on Monday.
"However, since it is classified under the OSA, we will not be able to take it back with us," he said.
PAC vice-chief Dr Tan Seng Giaw said any government organisation could apply for OSA classification, but did not elaborate.
PAC chairman Hasan Arifin said the PAC accepted and appreciated the action of the A-G's Department to classify the final report under the OSA.
"The Auditor-General has the legal power to do so in order to uphold the credibility and integrity of the department," he said.
PETRONAS TO CUT 1,000 JOBS
Petroliam Nasional Bhd (Petronas) announced last Thursday that about 1,000 jobs would be made redundant as it looks to navigate tougher waters and that it would reshuffle some senior executives as part of a group-wide transformation plan.
Petronas had 50,949 employees as at Dec 31, 2014. The 1,000 jobs cut represent less than 2% of its workforce.
The Group will also slashed its 2016 capital spending by up to RM20 billion.
THEY SAID THE BEST THING IN LIFE IS FREE, NOT SO IF YOU LOVE BEER
They said the best thing in life is free but not so if you love beer, and it's about to become more expensive.
According to the Excise Duty (Amendmend) Order 2016 posted on the Customs Department's website, the excise duty on beer made from malt was changed from RM7.40 per litre and 15% ad valorem tax to RM175 per 100% volume per litre effective last Tuesday. The amendment reflects a shift to an alcohol volume-based tax from a volume-based tax.
Brewers Guinness Anchor Bhd and Carlsberg Brewery Malaysia Bhd may see a 3% decline in their earnings for the financial year ending Dec 31, 2016 (FY2016) as a result of an increase in excise duty on beer and stout according to analyst.
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