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...
Versatile
Creative Bhd (-ve)
SHARES
in Versatile Creative Bhd (fundamental: 0/3, valuation: 0.55/3), which
triggered our momentum algorithm yesterday, slipped one sen or 0.76% to RM1.31
after 2.61 million shares were done; in contrast, its 200-day average volume
was only 445,508.5 shares.
In
May, the loss-making company secured a contract to build a halal vaccine plant
along with a pharmaceutical plant and research centre in Bandar Enstek
Industrial Park, Negeri Sembilan, for US$69.3 million.
The
contract was awarded by Oriental Mace Sdn Bhd, which is part of Oriental Mace
Group that is led by Professor Dr Wong Kong Yew as chief executive officer.
On
Aug 29, it was revealed that Wong had inked an agreement with Versatile
executive chairman Datuk Lee Kwee Hiang to buy the latter’s 18.33% stake in
Versatile at RM17.21 million or 80 sen per share.
Versatile
is trading at 3.72 times its net book value. No dividends were paid out for the
financial year ended March 31, 2016.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-versatile-creative-0
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