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...
Singapore-based immersive entertainment group Neon is considering a Singapore IPO that could raise up to S$500 million (US$389 million), according to sources familiar with the matter. The company, backed by Temasek Holdings’ 65 Equity Partners, has been in discussions with financial advisers, with the potential initial public offering (IPO) taking place as early as next year. The deal is expected to raise between S$400 million to S$500 million, though details remain subject to change.
Neon is known for producing immersive entertainment experiences based on popular franchises like Marvel’s Avengers, Jurassic Park, and The Hunger Games. The company also collaborates with the governments of Peru and Egypt to showcase historical exhibitions.
Neon previously listed in Singapore in 2005, raising S$5.3 million, before going private in 2019 in a S$318 million buyout. 65 Equity Partners invested S$150 million in Neon in October 2022, following a private funding round that raised S$235 million from various investors, including Pavilion Capital and Seatown Holdings International.
This move comes as Singapore’s IPO market has been relatively quiet, with only US$19.5 million raised so far this year. Other companies, such as SCI Ecommerce Pte Ltd, are also planning IPOs next year, with Nippon Telegraph & Telephone Corp reportedly considering a listing of a global data center real estate investment trust in Singapore.
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