Morning Briefing: British Parliament Rejects Brexit Proposal

UK Parliament Hits May on Brexit No-Deal
United Kingdom Parliament Rejected Brexit on Tuesday (03/12) - Photo by UK Office

JAKARTA (TheInsiderStories) – Good morning! Birtish’ House of Commons rejected the Brexit deal proposed by Prime Minister Theresa May, in a vote on Tuesday (03/12). Member of parliament (MP) voted no for 391, and yes for 242.

By this, United Kingdom (UK) withdrawal from European Union may end up with other options. The House will have another vote on Wednesday, to approve or reject a no-deal Brexit.

If there is no more agreement, there will be another vote Thursday on delaying Brexit from the scheduled plan, March 29. May said, MPs can vote with their conscience rather than following the orders of the party.

Labour Party leader Jeremy Corbyn mentioned that May’ government has been defeated again. According to him, a no-deal Brexit now had to be taken off the table. Moreover, opposition would continue to push alternative Brexit proposals.

Meanwhile, the European Union’ (EU) Chief Brexit negotiator Michel Barnier tweeted, “The EU has done everything it can to help get the Withdrawal Agreement over the line. The impasse can only be solved in the UK. Our ‘no-deal’ preparations are now more important than ever before.”

While, six countries have banned Boeing 737 MAX series after the Ethiopian Airlines crash killing 157 people on board. China, Indonesia, South Korea, Mongolia suspended the use of Boeing 737 MAX 8. Meanwhile, Singapore and Australia temporarily prohibited all variants of Boeing 737 MAX.

The Ethiopian Airlines crash becomes the second crash of Boeing 737 MAX 8 in the last five months. Previously, Lion Air that flew with the same plane plunged and killed 189 passengers and crews in Indonesia.

Then, Indonesia’ government regulation draft concerning e-commerce is now hampered, because the regulation must follow World Trade Organization rules. Trade Minister Enggartiasto Lukita said that the regulation discussion is now under related ministries coordination.

Other than that, Indonesia will determine goods allowed to be sold in e-commerce. Government will suggest platform provider to sell domestic products. Recently, several platforms sell 90 percent import products. But Lukita said, it will not be stipulated in the government regulation.

Indonesia already has President Regulation concerning E-Commerce Road Map for 2017-2019 for guidelines. The road map covers funding, taxation, consumers protection, education, human resources, communication infrastructure, logistics, and cyber security.

Yesterday, Indonesian government issued Rp18.05 trillion (US$1.29 billion) State securities in daily auction. The bid was almost three times higher at Rp58.31 trillion.

While, Rupiah has been strengthening by 0.5 percent to 14,233 over the greenback. On the contrary, the Jakarta Composite Index decreased by 0.19 percent to 6,353.77 with Rp674.12 billion foreign outflows.

May you have a profitable day!

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