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Kalla’s Latest Move (2)

Former Vice President Jusuf Kalla, who is also former chairman of Golkar Party, remains busy with two organizations—the Indonesian Red Cross (PMI) and the Indonesian Mosque Council (DMI)—seemingly related to the handling of COVID-19 outbreak. His nephew Erwin Aksa, meanwhile, met with the Minister of Defense Prabowo Subianto, who is also the chairman of Gerindra Party. Erwin, who is also a deputy chairman of Golkar, said he didn’t discuss about politics with Prabowo but about economy and COVID-19. Really?

Business

Economic Recovery (9): Commodities

Improvement of commodities in international market is key to recovery of Indonesian economy. Crude palm oil (CPO), the second largest export commodity, has gained more than 15% from its recent low, but thermal coal, the largest economy, has not changed much even though crude oil already surged more than 100% from its bottom.

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Indonesia Manufacturing Shrinks at Softer Pace

The IHS Markit Indonesia Manufacturing PMI rose to 39.1 in June 2020 from 28.6 a month earlier. This was the fourth straight month of contraction in factory activity but at a softer pace, as the COVID-19 containment measures...

US Trade Gap Highest since 2018

The US trade deficit widened to $54.6 billion in May of 2020 from an upwardly revised $49.8 billion in April and higher than forecasts of $53 billion. It is the biggest trade gap since December of 2018 as both exports and...

Asian Shares Extend Gains

Asian stock markets are rising on Friday, extending gains from the previous session following the positive cues overnight from Wall Street amid optimism about an economic recovery fueled by a strong jobs report and on hopes...

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Profiles

Bank Bukopin: What’s Up? (9)

Bank Bukopin (BBKP), which suffered liquidity issue in the past few months, has issued a fresh prospectus for the issuance of 4.66 billion new shares at Rp180 per share this morning. That means Bukopin will get fresh capital of Rp838.8 billion. Is it enough to restore public confidence in the bank, which is still controlled by Bosowa Group?

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