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...
Malaysia's digital game industry has achieved remarkable growth, generating RM45 million in sales and export revenue from government funding between 2014 and 2024, as revealed by Digital Minister Gobind Singh Deo.
The Malaysia Digital Economy Corporation (MDEC) has been instrumental in this success, approving 60 projects with a total funding of RM36.7 million for the development of digital games across computer, console, and mobile platforms.
Gobind also highlighted that during the same period, MDEC received a digital content fund allocation of RM163 million to bolster the animation industry, digital games, digital comics, and creative technology content.
“All these projects have successfully created over 700 job opportunities. This demonstrates the significant potential of the digital game industry in Malaysia, driven by strong government support in areas such as market access, incubators, conferences, workshops, and skill development programs," Gobind noted during a question-and-answer session in the Dewan Rakyat.
Citing Newzoo's global game market report, Gobind mentioned that global game revenue is projected to hit US$187.70 billion (RM818.33 billion) in 2024, with expectations to grow to US$213.3 billion by 2027, reflecting a compound annual growth rate of 3.1% from 2022 to 2027.
To further boost local games, MDEC has established a platform for Malaysian companies to explore international market access. Major digital game markets that Malaysia frequently participates in include the Games Developers Conference in the US, the Tokyo Game Show in Japan, ChinaJoy in China, and Gamescom in Europe.
This ongoing development reflects Malaysia's growing presence in the global digital economy, showcasing its potential as a regional hub for the digital games industry.
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