President of China Xi Jinping and Nort Korean leader’ Kim Jong Un has meet in a cordial and friendly atmosphere yesterday. The two leaders agreed to make joint efforts to push for continuous new development of China – North Korea relations in the new era, constantly advance the political settlement process of the Korean Peninsula issue, bring more benefits to people of the two countries, and make positive contribution to peace, stability, prosperity and development of the region and the world.
JAKARTA (TheInsiderStories) — Bank Indonesia (BI) reported retail sales index (RSI) indicates good growth. In November 2018, RSI rose by 3.4 percent year-on-year from a previous month 2.9 percent.
The increase is supported by clothing commodity subgroup sales performance, vehicle fuel, culture goods and recreation, said the governor Perry Warjiyo in a written statement yesterday (01/09).
The sales is predicted to continue in December, as indicated from the real sales index that grew by 7.7 percent year-on-year. It is also in accordance with the seasonal Christmas and new year holiday. Fourth quarter retail sales is projected to raise by 4.7 percent.
The central bank’ survey also showed lowering price pressure in the next three months. General price expectation index for the next three months for February 2019 is predicted to be at 160.1 basis points, lower than 163.9 points in a month before.
Furthermore, Bombs found out at the anti-graft leaders Agus Rahardjo and Laode Syarif’ homes two days ago, with unknown assailants placing what appeared to be bombs at their houses.It was suspected that a Molotov cocktail exploded at their house.
The government shut down in United States continues amid the critics from Republican. The government shutdown drags it will become the longest since modern records begun in 1977, according to the Congressional Research Service.
Go to the financial market, Indonesian Rupiah depreciating by 0.63 percent to 14.120 compared to US Dollar, after days of strong surge. On opposite, Jakarta Composite Index closed increasing by 0.15 percent to 6,272.23. The hike was supported by Rp836.82 billion foreign net buy.
To prevent sudden reversal of foreign capital inflow, Indonesia planned to implement tax for foreign exchange transaction, or so-called Tobin Tax. Finance Minister Sri Mulyani Indrawati explained its important to design the right formulation and must be able to identify good capital inflow players for this policy.
However, she also realised the risks of Tobin Tax, such as obstructing capital inflow potency in the stocks market. She said, her ministry and BI are also looking some policy options to resolve several conditions in managing financial stability.
Meanwhile, Minister of Communication and Informatics Rudiantara expected that selebgram—name for instagram celebrity—to be imposed by income tax. So far, there is no regulation yet about the taxation. But he encouraged directorate general of taxation to soon establish the rules.
Moving to Freeport issue. Indonesia’s Ministry of Living Environment and Forestry has asked PT Freeport Indonesia (PTFI) to complete ecosystem and tailing management studies this year. Inspector General of the ministry, Ilyas Assad mentioned that the studies has been started this month, and expected to finished before the end of 2019.
Assad added, PTFI’ tailing waste has a huge potency for Papua development. For an example, it can be used for brick-making. Even a company—which he ignored to named—has eyed Freeport’s tailing waste and planned to absorb 20,000 tons of tailing waste daily.
As the miner’ concentrate export license to end, Energy and Mineral Resources ministry vowed to extend PTFI’ license. But Director General of Mineral and Coal, Bambang Gatot Ariyono also asked the company to soon decide the smelter development location. The Government expected the smelter location would be in Gresik in East Java.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia