The Last Day of Working Cabinet - Photo by President Office

JAKARTA (TheInsiderStories) – Good Morning! Today, Working Cabinet under the leadership of Joko Widodo – Jusuf Kalla will end. During the five years of their reign, the two leaders have dismantled pairs of cabinet to carry out the program of nawa ide that they have planned since 2014.

The plan, after the inauguration of the elected president and vice president for 2019-2024 the new member of cabinet will be announced on Sunday. The composition of Working Cabinet II is expected to be fatter and bring new faces.

From Europe, British and the European Union (EU) have reached a provisional deal on Brexit. The deal still has to pass through Britain’s House of Commons and be formally ratified by the member states of the European Union.

Before the meeting, leaders from the Northern Irish Democratic Unionist Party has met British’ Prime Minister Boris Johnson to reach an agreement over the departure from the bloc. Simon Coveney, the Irish deputy premier, after met with Barnier, said that even if the talks made progress there could be a second EU summit before the end of October to finalize the Brexit deal.

While, Russian President Vladimir Putin will discuss the situation in northeast Syria at a meeting with his Turkish counterpart Recep Tayyip Erdogan next week. In the meeting United States (US) Vice President Mike Pence and Erdogan has reached a cease-fire in five days to suspend its military operation in Syria to allow Kurdish forces to retreat from a designated safe zone.

The agreement comes amid growing global concern over Turkey’ military incursion in Syria after President Donald Trump ordered US forces to withdraw from the country, leaving the Kurdish People’ Protection Units without support. Trump said the conflict helped make the deal possible, calling Erdogan “very smart” and a “friend.”

In Annual meeting in Washington, Kristalina Georgieva, the new head of the International Monetary Fund has called on the US and China to move towards a lasting trade peace for the benefit of the flagging global economy. She rated, which leaves all the existing tariffs in place, was not enough to lift the cloud hanging over the world economy.

The multilateral lender this week downgraded its 2019 global growth forecast to 3 percent and warned that the persistence of trade friction would deliver a US$700 billion hit to the world economy by 2020. A 66-year-old Bulgarian economist, said easing trade conflict would bring broader geopolitical benefits too.

In Indonesia, palm oil exports recorded 2.89 million tons (MT) of palm oil, biodiesel and oleochemical in August, data from the Indonesia Palm Oil Association, down from 3.30 MT of CPO a year earlier and 2.92 MT of CPO in July. In August, exports of palm oil and palm kernel oil down 15 percent compared to last year to 2.53 million tons, but up slightly from July worth of 2.51 million tons.   

According to the chairman, Joko Supriyono, the import taxes of up to 50 percent on Indonesian palm oil remain a big burden for local producers. While, palm oil output rose in August, sending inventories to the highest so far this year at 3.8 MT of CPO, said the agency.

On Thursday, Indonesian Rupiah closed up 0.22 percent to 14,188 against the US Dollar and the Jakarta Composite Index (JCI) closed up 0.19 percent to 6,181 level compared to prior day. For today, the analysts rated the financial market still fluctuating. The stock index its expecting have a limited move in the range 6,135 – 6,205.

The stocks to be watch on Friday are PT Vale Indonesia Tbk (IDX: INCO), PT Erajaya Swa Sembada Tbk (IDX: ERAA), PT Timah Tbk (IDX: TINS), PT Bukit Asam Tbk (IDX: PTBA), PT Astra International Tbk (IDX: ASII), PT Bank Mandiri Tbk (IDX: BMRI), PT Adhi Karya Tbk (IDX: ADHI), PT Indika Energy Tbk (IDX: INDY), PT Indofood CBP Sukses Makmur (IDX: ICBP), and PT Surya Citra Media Tbk (IDX: SCMA).

My you have a profitable day!

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