Morning Briefing: British Parliament Approves No-Deal Brexit

JAKARTA (TheInsiderStories) – British Parliament will approve law to stop no-deal Brexit on April 11 after passed the Cooper-Letwin bill on Monday evening (04/08) to ensure that the country does not crash out of the European Union with no deal on Friday.

Furthermore, Prime Minister Theresa May will meet German Chancellor Angela Merkel and French President Emmanuel Macron today to discuss a departure extension on the Brexit deadline. The original deadline was March 29, but May has requested an extension until June 30.

While, China and North Korea opened a new border crossing over the Yalu River, one of three natural boundaries between the two countries. The construction of the bridge began in 2012 and took four years, but the border crossing was not opened in 2016 due to UN Security Council sanctions imposed on North Korea.

Furthermore, Singaporean Prime Minister Lee Hsien Loong arrived in Malaysia for a working visit in conjunction with the 9th Malaysia-Singapore Leaders Retreat, an annual event held alternately in Malaysia and Singapore, the Malaysian foreign ministry said in a statement.

Both leaders are expected to discuss issues of mutual concern, review progress of existing bilateral cooperation and explore new areas of cooperation for mutual benefits. Trade between the two countries was estimated to be worth US$59.92 billion in 2018, with both countries closely cooperating in the areas of investment, education, defense, agriculture and transportation.

On Friday (04/05), an Indonesian citizen Hariadin, who was taken hostage by armed groups in the southern Philippines, died in the waters of Simisa Island, Sulu Province, southern Philippines. Hariadin died from drowning in the sea after being freed from hostage taking.

Hariadin with other Indonesian hostages Heri Ardiansyah tried to swim to Bangalao Island to avoid being attacked by the Philippine armed forces against hostage takers as experienced by the freed Malaysian citizens the day before. Meanwhile, Ardiansyah could be saved.

Since end of February, the 11th Division of the Philippine Armed Forces supported by the Indonesian Army Team has carried out the hostage release operation and continues to put pressure on the hostage takers. In the latest development, the hostages were forced on Simisa Island, Sulu Province, Southern Philippines.

Ardiansyah and Hariadin were kidnapped with a Malaysian citizen, Jari Abdullah, kidnapped at Kinabatangan River, Sandakan, Malaysia on Dec. 5, 2018. The three were kidnapped by armed groups in South Flipina while working on a fishing vessel.

Since 2016, 36 Indonesian citizens have been held hostage by armed groups in the southern Philippines. Of these, all were successfully released, but 1 Indonesian hostage died in the process of release.

Malaysian Grab hopes to earn up to $2 billion in funds from strategic investors this year. In just a few weeks after announcing funding needs, Grab received funding of more than $4.5 billion.

The Jakarta Composite Index (JCI) was closed down 0.75 percent or 48.28 points at 6,425.73 on Monday (04/08) compared to last Friday at 6,474.02. While, Rupiah dropped 0.24 percent to 14,151.90 over the Greenback.

May you have a profitable week!

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