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...
EcoWorld, IOI Corp, E&O, Sime Darby, Superlon, Ranhill, George Kent Some of these companies are likely to be in focus given the recent announcement, rumours and news surrounding them. Eco World Development Group Bhd The Group's third quarter net profit was almost 5x higher at RM44.58 million, compared with the RM9.39 million it recorded a year earlier. The group attributed the higher earnings for the quarter ended July 31 (3QFY16) to higher sales from launched projects during the quarter. Revenue rose almost 60% to RM727.34 million from RM454.28 million. For the first nine months of the FY16, net profit was about four times higher at RM99.93 million, compared with RM24.26 million it netted in the same period of FY15. Revenue rose 76% to RM1.81 billion from RM1.03 billion. IOI Corp Bhd Operations of IOI Corp Bhd at Rotterdam port have been blocked by greenpeace activists, accusing the group of forest destruction and child labour according to...