Daily Briefs – Monday, Sept. 11

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

JCI weekly weakens 0.11 percent

During last week, the Indonesia Stock Exchange recorded a composite stock price index weakened by 0.11 percent to 5,857.11 points. This comes after a long surge upwards. Along with the JCI performance, market capitalization value also slipped in that period, by 0.02 percent, to Rp6,424.17 trillion. The average value of daily transactions fell 9.49 percent, to Rp6.29 trillion, compared to the previous week’s figure of Rp6.95 trillion. (IDX)

Jombang-Mojokerto Toll Road Officialy Launched by President Joko Widodo

President Joko Widodo officially launched the Jombang-Mojokerto toll road operated by PT Marga Harjaya Infrastruktur in a ceremony on Sunday Sept. 10. Widodo expects the Trans Java Toll project can be completed within 5 years, as a central part of the promised 1000 kilometers of toll roads. The Trans Java alone will stretch more than 640 km, and is planned to connect Merak (West Java) to Banyuwangi (East Java). ASTRA Infra Jombang-Mojokerto Toll Road is the concession holder of the Jombang-Mojokerto road, which is fully owned by PT Astratel Nusantara (ASTRA Infra). Astra holds 353 km of toll roads, consisting of Tangerang – Merak, Kunciran – Serpong toll roads, Jombang – Mojokerto, and Semarang – Serpong It has an interest as well in Solo, Serpong – Balaraja, and Cikopo-Palimanan.

State budget deficit at 1.65% of GDP by August

Indonesia’s state budget deficit stood at Rp 224.35 trillion (US$16.9 billion) or 1.65 percent of the gross domestic product (GDP) as of August 2017, Finance Minister Sri Mulyani Indrawati has informed the House of Representatives Commission XI, which oversees finances. The figure is lower than the Rp 261.47 trillion or 2.09 percent of GDP recorded over the corresponding period last year.

Plan to attract 620 thousand Japanese tourists in 2017

The Indonesian government has set a target to attract some 620 thousand Japanese tourists to the country in 2017, Director for Asia-Pacific Tourism Promotion of the Tourism Ministry of Indonesia Vinsensius Jemadu stated on Friday. The number of Japanese tourists visiting Indonesia experienced a decline of 0.2 percent in 2016. (Antara)

Europe’s bank regulators on expensive hiring spree before Brexit

Europe’s regulators are competing to hire risk specialists to prepare for an influx of banks escaping Brexit, nudging up salaries and stretching staff budgets. Wall Street giants Goldman Sachs (GS.N), Citigroup (C.N) and Morgan Stanley (MS.N), which have big operations in London, intend to expand into the European Union after Britain’s departure. Bafin, Germany’s financial regulator, and French and Irish central banks intend to hire dozens of new recruits in the coming year, according to officials. The European Central Bank, which has overall responsibility for bank supervision, is also seeking new staff. But filling such positions is difficult, partly because risk specialists are in hot demand and budgets of public institutions are limited. (Reuters)