Daily Business Briefs – Dec 8

The Board of Transaction at Indonesia Stock Exchange - Photo by IDX

JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:

Consumer Confidence Rose up on November

Bank Indonesia consumer survey has indicated that consumer optimism in November 2017 has increased, as shown by the Consumer Confidence Index that reached 122.1 points, higher than in October 2017 at 120.7. In a statement, BI said the increase in optimism was contributed by the current economic condition index which rose 1.0 points, mainly driven by improved consumer perceptions on all expenditure groups on current income earned and also influenced by increased purchases of durable goods.

WorldRemit Raises $40M, Targets Indonesia Expansion

Leading digital money transfer service WorldRemit has raised US$40 million to drive its next phase of global growth, including an expansion of its Indonesia operation. WorldRemit is mobile-first, digital model that allows migrants to send money in a few taps directly from their phones or online instead of going to a bricks and mortar agent. Its popularity across APAC has grown rapidly and the region now accounts for 25 per cent of WorldRemit’s total revenue. Within that, Indonesia is a key market with year-on-year growth of WorldRemit’s transfers to the country topping 40 per cent.

LINK to Buy Back 7.1% Share from Public

Indonesia internet service provider company PT Link Net Tbk (IDX: LINK) has set a plan to buy back 7.1 per cent shares, or 216.03 million units of shares, from the public for a maximum value of Rp1.52 trillion (US$105 million). The firm said in a disclosure submitted to the Indonesia Stock Exchange (IDX) on Thursday that the purpose of the buyback is to avoid further losses in stock prices amid volatility in the stock market.

Government to Approve Pertamina’s request on Mahakam block

Ministry of Energy and Mineral Resources (ESDM), said that it has received a request from PT Pertamina (Persero) to approve the release of 39 per cent of Mahakam block, implied that the government will revise 30 percent Participating Interest (PI) for Total E & P Indonesie and Inpex Corporation. Deputy Minister Arcandra Tahar said after receiving a request from Pertamina, the government will respond immediately. Currently, the reply letter at the request is being drawn up by the Secretary General of the energy ministry.

Indonesia Condemns Trump’s Recognition of Jerusalem as Israel’s Capital

Indonesian President Joko “Jokowi” Widodo on Thursday (07/12) delivered a scathing rebuke, broadcast live on national television, to an announcement by US President Donald Trump that recognized Jerusalem as the capital of Israel — reversing seven decades of American foreign policy and in defiance of overwhelming global opposition.

Jokowi called on the Organization of Islamic Cooperation (OIC) and the United Nations (UN) to hold emergency meetings to discuss Trump’s announcement immediately.  (*)