JAKARTA (TheInsiderStories) Japan officially removed South Korea on August 27 from its “white list” of trade partners, What started as a trade dispute is now threatening a crucial security alliance.

South Korea officially summoned the Japanese ambassador to complain about it after last week terminated a military and intelligence-sharing pact with Tokyo. South Korea has voiced “strong regret” over Japan’ decision to hit the country with export restrictions as relations between the two key United States (US) allies in Asia deteriorate.

From Europe, the countdown to Brexit is on and parliament out. Yesterday, British’ Prime Minister Boris Johnson has asked Queen Elizabeth II to suspend the parliament. 

The move will squeeze lawmakers who want to bring forward new legislation to block a no-deal Brexit ahead of the Oct. 31 departure. Johnson moved to suspend parliament sparking criticism that he is seeking to prevent lawmakers from debating a deal to leave the European Union.

In Italy, two sworn political enemies said they had come to an agreement to form an alliance with one goal to block the rise of Matteo Salvini, the right-wing, populist interior minister who brought down the government in the hope of triggering a snap election.

The two parties had agreed on Giuseppe Conte, a law professor, as prime minister. Today, President Sergio Mattarella is expected to give him a mandate to form a new government with new coalition partners, which must pass a confidence vote in Parliament (together, the Five Stars and the Democratic Party have a majority)

In Indonesia, foreign affair ministry announces that a protest by 100 locals in Deiyai region, Papua on Wednesday turned violent when a separate group of more than 1,000 people armed with machetes and arrows attacked security personnel. The armed group brutally attacked Army personnel and stole a number of stored firearms and ammunitions.

The armed group then continued the attacks with the stolen firearms, machetes and arrows. One soldier died as a result of wounds inflicted by the attackers, five security personnel (1 soldier and 4 police officers) were wounded, and two civilians died, one as a result of wounds from the armed group’s arrow, and the other died of gunshot wound. It said, the situation in Deiyai is now calm and has returned to normal.

Energy and Mineral Resources (EMR) Minister Ignasius Jonan said Indonesia Crude Price (ICP), is expected to be at US$63 a barrel or lower by the end of 2019, 10 percent lower than the $70 per barrel assumed in the 2019 state budget. Up to July, the ICP average level was $62.80 per barrel.

While, trade ministry said, Indonesia will keep export tax for crude palm oil (CPO) at zero and for cocoa beans at 5 percent for September. For September, the ministry set CPO reference price at $555.6 a ton and cocoa beans at $2,306.5 per ton. 

The country collects the export levy for CPO when the reference price is above the $750 per ton threshold, and collects export levies when the price is $570 a ton, added by the ministry.

As reported by foreign media, US’ Amazon.com Inc. and Indonesian ride-hailing startup GOJEK have held preliminary talks on a partnership, which could expand the online retail giant’ services into a populous new market. It said, Amazon would make a sizable investment in GOJEK and tap into the Jakarta-based company’s delivery infrastructure in Indonesia, one of the people said.

Yesterday, Indonesian Rupiah ended up while the Jakarta Composite Index (JCI) only edged up 0.06 percent to 6,281.65 from prior day. On Thursday, analysts sees the global issues still coloring the local market and JCI will move in the range 6,123 – 6,302.

The stocks to be watched are PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Central Asia Tbk (IDX: BBCA), PT HM Sampoerna Tbk (IDX: HMSP), PT Astra International Tbk (IDX: ASII), PT Telkom Indonesia Tbk (IDX: TLKM), PT Mayora Indah Tbk (IDX: MYOR), and PT Kalber Farma Tbk (IDX: KLBF).

May you have a profitable day!

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