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...
Grab Malaysia has clarified that it was neither informed nor consulted about the recent open letter addressed to Prime Minister Datuk Seri Anwar Ibrahim by the Asia Internet Coalition (AIC), which expressed concerns over a proposed regulatory framework for social media and instant messaging platforms in Malaysia.
In a statement issued on Monday, Grab emphasized that the proposed regulations do not affect its operations, stating, "Therefore we had no part in it. We did not and are not commenting on the matter." This response came after a Reuters report mentioned Grab as a member of the AIC, linking it to the coalition’s stance.
Grab further distanced itself from AIC's position, reaffirming its commitment to working with the Malaysian government and contributing to the country’s development.
The open letter from AIC, dated Friday, criticized the proposed licensing regime by the Malaysian Communications and Multimedia Commission (MCMC), which requires social media platforms with more than eight million users in Malaysia to apply for a licence starting this month. The coalition argued that the licensing requirements are "unworkable" and could stifle innovation, as they place undue burdens on businesses without proper public consultation.
Legal action could be taken against non-compliant platforms after January 1, 2025, according to the MCMC’s directive.
Grab Malaysia, however, reiterated that the regulations in question do not impact its operations and reaffirmed its focus on supporting Malaysia’s development goals in collaboration with the government.
Comments
Post a Comment