JAKARTA (TheInsiderStories) – Good morning! United States (US) President Donald Trump opens a possibility to extend trade tariff truce with China, as both countries are now still under negotiation. Both countries set to have 90-day trade truce until March 1, or US will impose more than double tariffs on US$200 billion Chinese imports.
This signals that the economic superpowers are open to solve the bruising trade war. In Beijing, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are now having negotiations with Chinese officials.
China President Xi Jinping is scheduled to meet Lightizer and Mnuchin on Friday. In the last meeting in January, Trump also joined the trade talks with Chinese delegations.
While, European Commission suggested to add Saudi Arabia along with six other countries in the money laundering black list. European Union (EU) considered that Saudi Arabia didn’t do much in foiling terrorism and organized crime funding.
By being in the black list, European banks will tighten their control over the transactions from customers and institutions from related countries. Even though France and United Kingdom rejected the proposal, this has increased the tension between EU and Saudi Arabia.
Previously, the tension sparked over Saudi Arabian journalist Jamal Khashoggi who was being evil murdered in Saudi’s Consulate for Istanbul. Saudi Crown Prince Mohammed bin Salman who’ allegedly ordered Khashoggi’ killing, will visit Jakarta, next week.
Indonesia Foreign Minister Retno Marsudi affirmed the importance of Saudi Arabia to Indonesia. According to her, Indonesia and Saudi Arabia will develop relationships in economy and worship issues.
Furthermore,Financial Services Authority said interest rate for peer-to-peer (P2P) lending will be managed indirectly through an appointed financial technology (FinTech) association. The recent regulation stated that all P2P lending companies must be listed in the association. If a FinTech company doesn’t follow the rule, authority can revoke its license.
Then, state-owned electricity enterprise, PT Perusahaan Listrik Negara (PLN) will develop 736 megawatts renewable energy power plants. Poso’ 60 megawatts hydro power plant and Jeneponto’s 72 megawatts wind power plant are among those.
PLN committed to reach 23 percent government’ target of renewable energy in 2025. Recently, the installed capacity is 6,711.2 megawatts or 11.76 percent target.
Yesterday, Indonesian Rupiah against US Dollar strengthened by 0.43 percent, but still above the 14,000 level. Meanwhile, Jakarta Composite Index continued its falling by 0.11 percent to 6,419. Foreign investors out from the stocks market by selling Rp1.38 trillion.
May you have a profitable day!