The European Union' (EU) chief negotiator Michael Barnier is scheduled to meet the 27 envoys in Brussels, Belgium to brief them on the Brexit' latest proposals - Photo by EU Office

JAKARTA (TheInsiderStories) – Good Morning! The European Union’ (EU) chief negotiator Michael Barnier is scheduled to meet the 27 envoys in Brussels, Belgium to brief them on the Brexit‘ latest proposals. On Tuesday evening, British and EU officials edged closer to a last-minute exit deal, said the negotiator.

British and EU leaders are looking to sign off on a Brexit deal at the EU summit in Brussels on Thursday and Friday. The start of the negotiations to draw up a draft agreement sparked a rally in the British’ Pound. The currency was holding on to gains above $1.26 before closed at GBP0.78 against the Greenback.

Yesterday, leaders from the Northern Irish Democratic Unionist Party met British’ Prime Minister Boris Johnson try to reach an agreement over the departure from the bloc. Simon Coveney, the Irish deputy premier, after met with Barnier, said that even if the talks made progress there could be a second EU summit before the end of October to finalize the Brexit deal.

In Asia, International Monetary Fund noted, Iran’ economy is expected to shrink below 6 percent, as the country feels the impact of tighter United States (US) sanctions. The IMF had previously forecast Iran’ economy to shrink by 6 percent this year.

The forecasts are not far from estimates given last week by the World Bank, which said the Iranian economy by the end of the 2019 – 2020 financial year would be 90 percent smaller than it was just two years ago. The fund also said Iran, along with other emerging market economies, continues to experience “very severe macroeconomic distress.”

In Indonesia, the government raised Rp7.04 trillion rupiah ($499.29 million) from an Islamic bonds auction on Tuesday (10/15). The weighted average yields for project-based Sukuk were mixed compared with yields of comparable notes sold in the previous auction. Total incoming bids at were Rp29.91 trillion.

Today, the opposition party, Gerindra will decided their stance, wether join the Joko Widodo’ coalition or still outside the government circle. While, former vice presidential candidate Sandiaga Salahuddin Uno back to being member of the party led by Prabowo Subianto.

Previously, the opposition leader has met Widodo and his coalition parties such as Nasional Democrat Party, Kebangkitan Bangsa Party, and Kebangkitan Bangsa Party’ chairman. The safari is rated as a “signal” his party will join the incumbent’ coalition.

While, the anti-terror squad of National Police arrested four suspected terrorists in Cirebon and Bandung, West Java, said the spokesman Dedi Prasetyo on Tuesday. During Oct. 10 to 15, the squad had arrested 26 suspected terrorists.

One of the suspects was being groomed to become a suicide bomber and part of JAD network and are connected to the suspected terrorists who were arrested on Oct. 13. He adds, the bomb prepared by the suspect had high explosive power.

On the initial public offering planned, Indonesian operator of restaurant chains, PT Champ Resto its reported aimed to list its shares in Indonesia Stock Exchange. The company targeting to raise funds as much as U$150 million in the first quarter of 2020.

The firm, which is backed by Indonesian venture capital Capsquare Asia Partners, is working with advisers on the planned. Champ Resto founded in 1997 in Bandung, West Java, and has grown into one of the biggest restaurant chains in Indonesia.

On Tuesday, Indonesian Rupiah closed down o.76 percent to 14,220 over the US dollar. While the Jakarta Composite Index (JCI) rose 0.51 percen to 6,158.16 compared to prior day. Total trading volume of shares on the exchange today reached 15.76 billion shares with a total value of Rp8.61 trillion (US$610.64 million).

Today, the analysts rated, the JCI will test the resistance levels 6,173 and the support area at 6,131. The observers recommended PT Indosat Tbk (IDX: ISAT), PT Telkom Indonesia Tbk (IDX: TLKM), PT Sarana Menara Nusantara Tbk (IDX: TOWR), PT Panin Life Tbk (IDX: PNLF), PT Medco Energy International Tbk (IDX: MEDC), PT Bukit Asam Tbk (IDX: PTBA), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Wijaya Karya Tbk (IDX: WIKA), PT Vale Indonesia (IDX: INCO), PT Indah Kiat Pulp and Paper Tbk (IDX: INKP), and PT Pabrik Kertas Tjiwi Kimia Tbk (IDX: TKIM) shares to be watch

US$1: Rp14,100

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia