JAKARTA (TheInsiderStories) — Good morning! The trade tension between United States (US) and China seems calming by the end of this year, after months of tariff retaliations. American President Donald Trump also claimed that the trade tariff negotiation on the 90-day ceasefire is going well.
Trump tweeted, “Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!”
Meanwhile, Chinese customs announced that it opens rice imports from the US. The permission finally given more than a year after America and China had agreed on phytosanitary regulation.
Previously, as a step to calming the tension, China has started purchasing soybeans from the US. China also suspended its plan to impose additional tariff on US cars and spare-parts, starting from January 1, 2019.
US and China top officials are scheduled to meet in Beijing, January 2019, to discuss the truce result and how to solve the trade tension. Trade war between these two superpowers has created a turmoil not only for both countries, but also global economy.
Meanwhile, a revamped version of the Trans-Pacific Partnership (TPP) for 11 countries, came into force on Sunday (12/30). The deal, which will slash tariffs across much of the Asia-Pacific region, does not include the United States after the country pulled out of the negotiations in 2017.
Internally, Bank Indonesia (BI) projected that December’s monthly inflation could be at 0.56 percent. So that the 2018 year-on-year inflation could be at around 3.2 percent. The central bank Governor, Perry Warjiyo said that there was seasonal air freight price increase in December, as well as food ingredients such as eggs and chicken.
BI considered this year inflation as under-control. It predicts, the 2019 inflation will be around 3.5 percent.
Moreover, Financial Services Authority scraped regulation that obliges every listed-company to own an Independent Director. The authority considered that supervisory function of Independent Director is already run by Independent Commissioner. So listed company can implement efficiency by the position elimination.
Now Indonesia Stock Exchange just needs to implement the policy to listed-companies. The policy change will be stated in regulation number I-A about listing of shares and equity securities other than shares issued by listed companies.
While, Ministry of Communication and Informatics officially abolished 2.3 GHz radio frequency band for two Lippo companies, PT First Media Tbk (IDX: KBLV) and Bolt operator PT Internux. Official removed the band license due to companies’ band usage default. By this, Internux and First Media must shutdown their core radio network operation centre.
Internux and First Media obtained 2.3 GHz radio frequency band license in 2009. But both companies didn’t pay its band usage in the last three years. First Media hasn’t paid Rp364.84 billion (US$25.16 million) in 2016 and 2017 and Internux arrears is Rp343.57 billion for the same period.
May you have a happy new year!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight To Get More Information About Indonesia