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PAN & the Third Axis

The Chairman of the National Mandate Party (PAN), Zulkifli Hasan, expressed his pessimism about the chance of the Defense Minister Prabowo Subianto (who is also the chairman of the Gerindra Party) of winning the 2024 presidential race given the latter's losses in the last three presidential elections. Zulkifli, who is also deputy speaker of the People's Consultative Assembly (MPR), the highest legislative body in the country, stated that his party wants a three-horse or even four-horse race in 2024 to avoid what happened back in the last two presidential elections. But the quality of an election does not depend on the number of contestants participating in the said election.

Business

FY21 Results of PLN

State electricity provider PT Perusahaan Listrik Negara (PLN) booked a net profit of Rp13.17 trillion in 2021, surged 116% year on year (y/y), helped gain on the foreign exchange (forex), lower finance costs, and higher revenues.

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Euro Area Manufacturing PMI at 18-Month Low

The S&P Global Eurozone Manufacturing PMI fell to 54.4 in May of 2022 from 55.5 in April, the smallest expansion since November 2020 and compared to market forecasts of 54.9, preliminary estimates showed. New orders fell for...

Japan Leading Economic Index Revised Lower

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 100.8 in March of 2022, compared...

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Profiles

Sariaatmadja-Tanoesoedibjo

Jessica Herliani, daughter of Hary Tanoesoedibjo (MNC Group), has tied the knot with Jonathan Natakusuma, son of Fofo Sariaatmadja (Emtek Group). MNC and EMTEK are two of the largest media groups in the country. MNC controls TV stations like RCTI, MNC TV and TPI, while EMTEK owns SCTV and Indosiar.

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