Daily Briefs – Friday, Sept. 8

JAKARTA (TheInsiderStories) – Good morning, we present several important news that might help your business decisions today.

Indonesia consumer less optimistic
Bank Indonesia (BI) latest survey shows that Indonesian consumers were less optimistic in August than in July related to their income and business activities would improve over the next six months. BI’s consumer index stood at 121.9 in August, down from 123.4 in July. (Reuters)

Government spends 50.9 Percent of state budget until August
Finance Minister Sri Mulyani Indrawati said that as of August, the government had spent Rp695.66 trillion ($52.31 billion) or about 50.9 percent of its total spending plans for 2017 as stipulated in the revised state budget. The figure is a bit increasing than the spending of Rp644.71 trillion or 49.3 percent by the corresponding period last year and expected to boost the economy in the second half of this year. (Jakarta Post)

S’pore start-ups have an interest to invest in Indonesia
Not much Singapore-based start-ups that operating in Indonesia. However, some of Singapore see Indonesia digital economy is growing fast and consider to investing in Indonesia due to President Jokowi has invited them to invest in Indonesia. (Antara News Agency)

Indonesia Protest Over Australia’s Import Paper Duties

Indonesia has sent a complaint to the World Trade Organization (WTO) over Australia’s import duties on Indonesian paper after Australia conducted an investigation into dumping accusations leveled at Indonesia’s products. Australia imposed dumping on A4 paper imported from Indonesia. Therefore, Indonesia’s paper exports to the Australia decline of 36.8 percent. (Jakarta Post)

Local-currency bond Timah Oversubscribed 6.8 Times
The process of book-building on the local-currency bond of PT Timah Tbk. (TINS) reached Rp10.3 trillion ($774 million) or oversubscribed 6.8 times from emission Rp1.5 trillion ($112.8 million). TINS offers two-series conventional bond of Rp1.2 trillion ($90.2 million) with yield 8.5 percent to 9 percent with three-year maturities and 9.25 percent with five-year maturities while sharia bond of Rp300 billion ($22.5 million) offers yield 8.5 percent to 9 percent with three-year maturities and 8.75 percent to 9.25 percent with five-year maturities. The high appetite from investors because bond becomes an ideal place to invest amid banking rate decline. (Kontan)

Draghi Affirms ECB will decide on tapering in Autumn
Despite European Central Bank (ECB) made no changes to either policy or its statement, Mario Draghi, president of the euro-zone monetary authority, affirmed that decision on whether to reduce or taper asset purchases will be decided in autumn, most likely in October. Meanwhile, the euro-zone economy growth forecast is also revised up to be 2.2 percent while projections for 2018 and 2019 were left unchanged at 1.8 percent and 1.7 percent respectively. (ECB)