Global investors cheered a potential Brexit deal between United Kingdom and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year' Day - Photo: Special
JAKARTA (TheInsiderStories) — Good morning! British’ Prime Minister Theresa May would ask for further Brexit delay to European Union (EU) beyond April 12. So she can have more time to negotiate with opposition.
She said, the Government need a further extension of Article 50, one that is as short as possible and which ends when we pass a deal. And we need to be clear what such an extension is for, to ensure we leave in a timely and orderly way,” she said.
Brexit implementation has been retreat from its initial schedule on March 29. It is unclear whether the EU will accept May’ request on more delay. If the EU doesn’t agree, United Kingdom may leave with no-deal.
According to Goldman Sachs, Brexit has made the UK lost GBP600 million each week. The economic loss occurred since the referendum in 2016, as Brexit uncertainty eroded investment to that country.
If there’ll be no-deal Brexit, there’s 15 percent possibility that the UK’ GDP may fall by 5.5 percent and poundsterling to slump by 17 percent.
Followed the rejection from the House of Common, Conservative member of parliaments Nick Boles quit from his position after soft Brexit plan failed. Previously He had resigned from the local Conservative party in Graham and Stanford.
While, International Monetary Fund projected a slower economic growth this year, than its previous projection. Global economy is now prone to Brexit,  US-China trade war, high level debt, and financial market restlessness, said IMF Managing Director Christine Lagarde.
This is a difficult time which necessitates all to handle it carefully, she added. Next week, IMF will announce the global economic growth cut. Especially two-third of the countries are having economic slowdown.
This will be its second projection slash this year. Previously in January, IMF has lowered down its projection on world’ Gross Domestic Product (GDP) to 3.5 percent.
Furthermore, there’s a light for United States and China trade deal, according to US Chamber of Commerce official. The negotiation is expected in having a good progress on an enforcement mechanism and a plan to lift tariffs.
If the two sides did not get closer to a deal this week, the timing of an agreement could slip by a few weeks, said Myron Brilliant, the Chamber’ head of international affairs.
Amid the EU’ defiance over palm oil commodity, Indonesia is preparing to process Crude Palm Oil to be green aviation fuel. Government is now finding a way to decrease production cost and negotiate with palm oil producers.
Yesterday, Indonesian Rupiah moved slightly decreasing by 0.04 percent to 14,211.23 against the Greenback. But Jakarta Composite Index increased by 0.36 to 6,476.06 with Rp226,53 foreign inflow.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia