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...
India's Adani Group is exploring potential investments in two major airports in Vietnam, as announced by the Vietnamese government on Wednesday. This development follows the company's recent approval to construct a seaport in the country.
The announcement came after a meeting in Delhi between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani, the head of the Adani Group, during Chinh's official visit to India.
Potential Investment Targets
- Long Thanh Airport: Located in the southern region of Vietnam, this is one of the country's most significant aviation projects.
- Chu Lai Airport: Situated in the central region, it serves as another critical infrastructure hub.
Previous Commitments and Future Prospects
- Seaport and Renewable Energy: Last year, Karan Adani, Gautam Adani's elder son, announced plans to invest up to US$3 billion in Vietnam's seaport and renewable energy sectors. He also mentioned that the total investment could potentially reach US$10 billion over the longer term.
Key Points
- The Vietnamese government statement did not specify the investment amount or the time frame for the airport projects.
- The move underscores Adani Group's strategy to strengthen cooperation with Vietnamese partners in aviation and logistics sectors.
This potential investment marks a significant step in Adani Group's expansion in Southeast Asia, aligning with Vietnam's infrastructure development goals.
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