JAKARTA (TheInsiderStories) – Good Morning! Indonesian government will regulate all licenses under the Investment Coordinating Board to improve the ease of doing business (EODB) rank. The new policy will be formed in the presidential instruction, said the chairman Bahlil Lahadalia on Thursday (11/21).
President Joko Widodo wants the country’ EODB rank to be 40 in 2021 from currently at rank 73. In addition the government also wants to synergize the licensing of central and regional government and starting January 2020 has integrated with online single submission will be integrated.
Today, the head of state will lead a limited meeting with the topic procurement on main equipment weapon system policies and taxation provisions and facilities to strengthening the economy.
On the trade war, Chinese deputy prime minister Liu invited top-level of United States (US) trade negotiators for a new round in Beijing before the Thanksgiving holiday. Wall Street Journal reported, US officials have indicated they are willing to meet in person but have not yet committed to the time.
From Europe, members of European Central Bank suggested the central bank to keep its monetary policy stance unchanged at the current meeting. This entailed confirming the resumption of net asset purchases under the Governing Council’s asset purchase program at a monthly pace of Euro20 billion as from Nov. 1 and reiterating the forward guidance on policy interest rates, net asset purchases and reinvestments.
On Friday, ECB president Christine Lagarde will delivers her speech to public for the first time. Since became the president, she has not made any direct comments on monetary policy and hasn’t provided much insight into her views and could choose to remain ambiguous until the next central bank meeting in December.
On Thursday, Malaysia and Indonesia has signed a memorandum of understanding to resolve the international boundary issues, paving the way for both countries to further formalize the resolution of the remaining three outstanding boundary problems (OBPS).
Minister of home Affairs Tito Karnavian, said the three OBPs are in in Sabah – Pulau Sebatik (Tawau district/ Nunukan district), the Sinapad – Sesai Rivers, and Pensiangan district and Lumbis Ogong district in North Kalimantan by 2020.
On the oil market, President Vladimir Putin said that Russia and The Organization of the Petroleum Exporting Countries (OPEC) have a common goal of keeping the oil market balanced and predictable. In October, Russia cut its oil output to 11.23 million barrels per day (bpd) from 11.25 million bpd in September.
Energy minister Alexander Novak adds, Russia plans to produce between 11.17 – 11.25 million bpd. The OPEC scheduled to meet on Dec. 5 in Vienna, followed by talks with a group of other exporters, including Russia. In October, Russia cut its oil output to 11.23 million bpd from 11.25 million bpd in September but it was still higher than a 11.17-11.18 million bpd cap set for Moscow under the existing global deal.
Yesterday, Indonesian Rupiah dropped 0.17 percent to 14,114 against the US Dollar and the Jakarta Composite Index (JCI) corrected 0.61 percent to the level of 6,117.36 compared to prior day. The weakened of local currency and stock market along with a series of other Asian market.
Analysts assessed the weakening of Rupiah and the composite index caused the investor concerns about declining of mutual funds price and the effect of Bank Indonesia decision to kept the seven days reverse repo rate. While, the global sentiment from the trade tension between US and China and the global commodity prices will also affected the financial market on Thursday.
For today the analysts sees the Rupiah will move in the range 14,050 to 14,125 per US dollar. And the JCI between 6,086 – 6,155. The stocks to be watch are PT Waskita Karya Tbk (IDX: WSKT), PT Jasa Marga Tbk (IDX: JSMR), PT Adhi Karya Tbk (IDX: ADHI), PT Astra International Tbk (IDX: ASII), PT Bumi Serpong Damai TBk (IDX: BSDE), PT Mayora Indah Tbk (IDX: MYOR), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Bukit Asam Tbk (IDX: PTBA), and PT PP Tbk (IDX: PTPP).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia