Recent Articles

Covid Brief: Oct. 25, 2021

The 7-day average number of new COVID-19 cases in Indonesia continues to decline. That said, the 7-day average number of new persons tested has also declined (see table below). We do not know whether we are seeing a decreasing government testing and tracing capacity or a dissipating infection. Unfortunately, the public seems to take the declining new case trend as a sign of the pandemic fading away. More and more people are becoming increasingly less vigilant.

Business

Banking Update

Bank Indonesia (BI) recently reported that Indonesia's financial system resilience had remained solid, accompanied by a gradual revival of banking intermediation function. The capital adequacy ratio (CAR) in the banking industry remained high in August 2021 at 24.38%, with persistently low NPL ratios of 3.35% (gross) and 1.08% (net). 

QUICK UPDATES

Gold Slightly Higher on Inflation Risk

Gold inched up 0.3% to trade near the $1,800 an ounce level on Monday, as mounting pressures of high inflation and a soft dollar outweighed concerns over rising yields. Federal Reserve chair Jerome Powell announced the Fed is...

Japan Leading Index Revised Downward

The index of leading economic indicators in Japan, which is a gauge of the economy a few months ahead and is compiled using data such as job offers and consumer sentiment, was revised lower to 101.3 in August from a preliminary...

Oil Resumes Rally

WTI crude continued its upward momentum to trade above $84 a barrel on Monday, a new 7-year high amid global tight supply and prospects of increasing demand as the economies recover from the pandemic. Meanwhile, Saudi...

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Profiles

Hiskak Secakusuma passes away

Businessman Hiskak Secakusuma, co-founder of Metropolitan Group, one of the largest property groups in Indonesia, has passed away on Friday, October 15 at 84 years old. The group’s flagship company is the IDX-listed PT Metropolitan Land Tbk, a company with total assets and equity of Rp6.03 trillion and Rp4.1 trillion respectively by June 30, 2021.

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