JAKARTA (TheInsiderStories) – Good Morning! President Joe Biden, will use his first big presidential moment on the Friday’ Group of Seven (G7) meeting to announces a US$4 billion funds to bolster the purchase and distribution of COVID-19 vaccines for the poor nations. He will also encourage the partners to make good on their pledges to COVAX, a World Health Organization initiative focused on improving access to vaccines.
The funding was approved by United States (US) Congress in December and will be distributed through 2022. On the stimulus package, house speaker, Nancy Pelosi, said that the US$1.9 trillion fiscal stimulus could come to a vote next week. Congress wants to get something to Biden by the end of the month.
His administration also ready to join talks with Iran and world powers to discuss a return to the 2015 nuclear deal. The state department said the US would accept an invitation from the European Union to attend a meeting of the participants in the original agreement. The country has not participated in a meeting of those participants since former president Donald Trump withdrew from the deal in 2018.
In Asia, foreign minister of Singapore Vivian Balakrishnan met Indonesian minister of foreign affairs Retno Marsudi discussed the ongoing developments in Myanmar. Both also agreed that ASEAN can play an important role in facilitating constructive dialogue and a return to normalcy and stability in Myanmar.
The ministers also reaffirm the excellent state of bilateral relations for both countries to explore areas of further collaboration amidst the challenges posed by the pandemic. While, foreign and trade minister of Hungarian, Péter Szijjártó, visited Indonesia and had met with his counterpart. He discussed a number of efforts to increase bilateral trade and among others
In 2020, the total trade value between Indonesia and Hungary reached US$212.7 million with a trend an increase of 15.62 percent in the 2016 – 2020 period. The value of Indonesia’ export and import to Hungary worth of $81.5 million and $131.2 million. And the investment values Hungary in Indonesia in was $1.5 million.
Then, Japan announced the core consumer prices fell 0.6 percent in January from a year earlier, marking the sixth straight month of annual declines. From Europe, Germany’ health minister, Jens Spahn, said lockdown measures in the country and weak sentiment point to subdued economic activity in Europe’ largest economy in the coming weeks.
He also demanding an additional EUR25.8 billion (US$31.18 billion) in the 2022 budget. Labour minister, Hubertus Heil, also wants EUR10 billion more for pension insurance for next year. The total federal budget for this year is EUR498.62 billion.
On Thursday, Indonesian Rupiah depreciated 0.04 percent to 14,025.00 per US Dollar and the Jakarta Composite Index (JCI) fell 0.44 percent to 6,200.31 compared to the previous day. Analysts said the weakened on both instruments affected by Bank Indonesia decision to cut the interest rates to historic lows and US treasury yield.
As reported, the central bank decided to lower the Seven Days Reverse Repo Rate by 25 basis points to 3.50 percent. With this information, the local currency is estimated to move in the range 14,000 – 14,100 over the Greenback and the stock index between 6,123 – 6,288.
The stocks to be watched today are PT Telkom Indonesia Tbk (IDX: TLKM), PT Gudang Garam Tbk (IDX: GGRM), PT Indocement Tunggal Perkasa Tbk (IDX: INTP), PT Astra Agro Lestari Tbk (IDX: AALI), PT AKR Corporindo Tbk (IDX: AKRA), PT Indika Energy Tbk (IDX: INDY), PT Mayora Indah Tbk (IDX: MYOR), and PT Summarecon Agung Tbk (IDX: SMRA).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia