Economy
Securities and Exchange Commission requires US companies to report on compliance of salaries of top managers with financial indicators
![Gary Gensler SEC](https://letizo.com/wp-content/uploads/2022/08/Securities-and-Exchange-Commission-requires-US-companies-to-report-on-compliance-of-salaries-of-top-managers-with-financial-indicators-scaled.jpeg)
The U.S. Securities and Exchange Commission (SEC) has required companies to report to shareholders on how the salaries of top managers correlate with the financial performance of the firms they manage.
“The rule will make it easier for shareholders to evaluate public companies’ decisions regarding executive compensation policies,” Gary Gensler told the SEC, commenting on the regulator’s decision.
After mid-December 2022, companies will be required to compare the salaries of top executives to the company’s net income received and a lot of other financial metrics.
Top executives in the U.S. who successfully climb the career ladder have traditionally been paid higher than executives in other countries for decades, even when their companies’ financial performance leaves much to be desired. Barron’s wrote. That has prompted calls for votes where shareholders can have a say on top executive compensation.
The SEC first proposed comparing executive salaries to company performance in May 2015, but the rules were not adopted then. The initiative was brought up for discussion again in January of this year.
Earlier, we reported that coffee exports from Uganda fell 17% in July due to drought.
Economy
Russian central bank says it needs months to make sure CPI falling before rate cuts -RBC
![](https://letizo.com/wp-content/uploads/2023/12/russian-central-bank-says-it-needs-months-to-make-sure-cpifalling-before-rate-cuts-rbc_6589b7fabdb0c.jpeg)
![Russian central bank says it needs months to make sure CPI falling before rate cuts -RBC](https://i-invdn-com.investing.com/trkd-images/LYNXMPEJBN037_L.jpg)
© Reuters. Russian Central Bank Governor Elvira Nabiullina attends a news conference in Moscow, Russia June 14, 2019. REUTERS/Shamil Zhumatov/File Photo
MOSCOW (Reuters) – Russia’s central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank’s governor Elvira Nabiullina told RBC media on Sunday.
The central bank raised its key interest rate by 100 basis points to 16% earlier in December, hiking for the fifth consecutive meeting in response to stubborn inflation, and suggested that its tightening cycle was nearly over.
Nabiullina said it was not yet clear when exactly the regulator would start cutting rates, however.
“We really need to make sure that inflation is steadily decreasing, that these are not one-off factors that can affect the rate of price growth in a particular month,” she said.
Nabiullina said the bank was taking into account a wide range of indicators but primarily those that “characterize the stability of inflation”.
“This will take two or three months or more – it depends on how much the wide range of indicators that characterize sustainable inflation declines,” she said.
The bank will next convene to set its benchmark rate on Feb. 16.
The governor also said the bank should have started monetary policy tightening earlier than in July, when it embarked on the rate-hiking cycle.
Economy
China identifies second set of projects in $140 billion spending plan
![](https://letizo.com/wp-content/uploads/2023/12/china-identifies-second-set-of-projects-in-140-billionspending-plan_658866868e953.jpeg)
![China identifies second set of projects in $140 billion spending plan](https://i-invdn-com.investing.com/trkd-images/LYNXMPEJBM01Q_L.jpg)
© Reuters. FILE PHOTO: Workers walk past an under-construction area with completed office towers in the background, in Shenzhen’s Qianhai new district, Guangdong province, China August 25, 2023. REUTERS/David Kirton/File Photo
SHANGHAI (Reuters) – China’s top planning body said on Saturday it had identified a second batch of public investment projects, including flood control and disaster relief programmes, under a bond issuance and investment plan announced in October to boost the economy.
With the latest tranche, China has now earmarked more than 800 billion yuan of its 1 trillion yuan ($140 billion) in additional government bond issuance in the fourth quarter, as it focuses on fiscal steps to shore up the flagging economy.
The National Development and Reform Commission (NDRC) said in a statement on Saturday it had identified 9,600 projects with planned investment of more than 560 billion yuan.
China’s economy, the world’s second largest, is struggling to regain its footing post-COVID-19 as policymakers grapple with tepid consumer demand, weak exports, falling foreign investment and a deepening real estate crisis.
The 1 trillion yuan in additional bond issuance will widen China’s 2023 budget deficit ratio to around 3.8 percent from 3 percent, the state-run Xinhua news agency has said.
“Construction of the projects will improve China’s flood control system, emergency response mechanism and disaster relief capabilities, and better protect people’s lives and property, so it is very significant,” the NDRC said.
The agency said it will coordinate with other government bodies to make sure that funds are allocated speedily for investment and that high standards of quality are maintained in project construction.
($1 = 7.1315 renminbi)
Economy
Russian central bank says it needs months to make sure CPI falling before rate cuts -RBC
![](https://letizo.com/wp-content/uploads/2023/12/russian-central-bank-says-it-needs-months-to-make-sure-cpifalling-before-rate-cuts-rbc_6588666c7d443.jpeg)
![Russian central bank says it needs months to make sure CPI falling before rate cuts -RBC](https://i-invdn-com.investing.com/trkd-images/LYNXMPEJBN037_L.jpg)
© Reuters. Russian Central Bank Governor Elvira Nabiullina attends a news conference in Moscow, Russia June 14, 2019. REUTERS/Shamil Zhumatov/File Photo
MOSCOW (Reuters) – Russia’s central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank’s governor Elvira Nabiullina told RBC media on Sunday.
The central bank raised its key interest rate by 100 basis points to 16% earlier in December, hiking for the fifth consecutive meeting in response to stubborn inflation, and suggested that its tightening cycle was nearly over.
Nabiullina said it was not yet clear when exactly the regulator would start cutting rates, however.
“We really need to make sure that inflation is steadily decreasing, that these are not one-off factors that can affect the rate of price growth in a particular month,” she said.
Nabiullina said the bank was taking into account a wide range of indicators but primarily those that “characterize the stability of inflation”.
“This will take two or three months or more – it depends on how much the wide range of indicators that characterize sustainable inflation declines,” she said.
The bank will next convene to set its benchmark rate on Feb. 16.
The governor also said the bank should have started monetary policy tightening earlier than in July, when it embarked on the rate-hiking cycle.
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