JAKARTA (TheInsiderStories) — Good morning! Mount Agung in Bali erupted again at 7:55 p.m. local time, but the ash column height was not observed,said Geology, Climatology and Geophysics Agency on Thursday (01/10). At present the status of the mountain is in Level III (Standby) status.

On the same day, the institution also recorded three earthquakes that occurred in Indonesian territories. The biggest earthquake recorded in Central Sumba, East Nusa Tenggara, while the smallest earthquake recorded is in Tasikmalaya, West Java. Then, earthquake occurred in Ransiki District, West Papua Province early this morning with magnitude of 4.9 with a depth of 10 km.

The agency also issued high-wave warnings for a number of waters and seas in Indonesia. The warning level is from alert to dangerous. This early warning is valid from Jan. 10 at 07:00 a.m. local time until Jan. 13 at 07:00 a.m local time. At least there are six points with dangerous levels or wave height of 2.5 to 4 meters.

On the economic sides, Bank Indonesia (BI) reported Business Activity Survey indicates a deceleration in fourth quarter (4Q) of 2018. Value of business weighted net balance only grew by 6.19 percent, slashed more than half from 14.23 percent in the previous quarter.
But on average, the weighted net balance in 2018 is 12.39 percent, higher than 10.97 percent in the previous year. The survey shows more expansive business activity in the 1Q of 2019 that will grow 11.26 percent.
The growth is projected to be supported by services, finance, real estate, and processing industry sectors. Processing industry is projected to continue its expansion in the 1Q of this year.
Index of BI’ Prompt Manufacturing Index (PMI) is estimated to be at 54.75 percent. In the 4Q of last year, processing industry was already on its expansion level.
The PMI shows 51.92 percent for the industry. Investment for the processing industry increased by 2.71 percent, supported by production volume uptrend in transport equipment and machinery with its equipment.
Indonesia’ Deposit Insurance Corporation (DIC) decided to increase the guarantee interest rate by 25 basis points followed the central bank decision. This guarantee interest rate is valid for Jan. 13 to May14, 2019.
Beside refer to Bank Indonesia’ policies, said the chairman Halim Alamsyah, the agency take the decision caused the condition of liquidity was relatively well maintained but there was a risk of tightening stemming from credit growth that exceeded the growth of third party funds.
Other reasoned, the condition of financial system stability is in a maintained condition amid easing pressure from exchange rate depreciation and financial markets.
Yesterday, Indonesian markets were in good atmosphere. Rupiah strengthened by 0.19 percent to 14,093 against US Dollar. Then, the Jakarta Composite Index closed gaining 0.9 percent to 6,328.71. All sectors are benefiting, except agriculture. Foreign net buy recorded high at Rp772.01 billion (US$53.24 million).

Meanwhile, the Energy Information Administration (EIA) reported a crude oil inventory draw of 1.7 million barrels for the first week of 2019, from last week at 6.9 million barrels. In gasoline, however, the EIA reported a hefty addition of 8.1 million barrels. Distillate fuel inventories went up by as much as 10.6 million barrels in the week to Jan. 4.

The EIA also reported refineries in the United States (US) had processed an average of 17.6 million barrels daily of crude during last week, which is 9.4 million barrels per day (bpd) of gasoline and 5.6 bpd of distillate fuels.

Followed the announcement, West Texas Intermediate recovered to above US$51.37 a barrel and Brent crude traded at $60.35 a barrel this week on the news that United States (US) – China trade talks were going well. US’ officials as saying the negotiations currently concerned increased Chinese imports of the country’ farm produce and energy commodities.

However, if the sides fail to reach an agreement by March 2, the US will effect a 15-percent increase in tariffs from currently of 10 percent on Chinese goods worth $2 billion.

May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia
SHARE
Previous articleThis Year, Indonesia Targets Export Values US$176B
Next articleChina’s PPI Slumps to Two-year Low in December
The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

LEAVE A REPLY

Please enter your comment!
Please enter your name here