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Military Commander Succession: A Plot Twist?

The speculations on who will become the next Military Commander (Panglima TNI) to replace Air Chief Marshal Hadi Tjahjanto continue. Some lawmakers in the House of Representatives (DPR) endorse the Army Chief of Staff (KSAD) General Andika Perkasa, while others support the Navy Chief of Staff (KSAL) Yudo Margono. Will there be a plot twist?

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Third-Term Speculation: Why Are Some Still Cooking It?

In its latest survey, the Saiful Mujani Research and Consulting (SMRC) found most of its respondents rejecting the idea of extending the President’s term of office. The respondents want the President’s term to remain limited to only two periods at maximum. The President himself has made it clear that he does not desire a third term. So why do we still hear speculations surrounding a third term for President Joko “Jokowi” Widodo?

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The Arrest of Adelin Lis

The repatriation of fugitive Adelin Lis to Indonesia deserves appreciation. The Attorney General’s Office (AGO) has again succeeded in demonstrating good performance. Not many know who Adelin Lis is, but his arrest shows another side to the legal world that is rarely known to the public.

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The ASABRI Scandal: RIMO

The investigation and inquisition into the allegations of corruption involving PT Asuransi Sosial Angkatan Bersenjata Republik Indonesia (familiarly known as PT ASABRI) continues. The Attorney General’s Office (AGO) recently held an auction of confiscated assets whose value had decreased. As of June 2021, the AGO had reportedly confiscated Rp14 trillion worth of assets, including assets belonging to PT Rimo International Lestari Tbk (RIMO), a company controlled by Teddy Tjokrosaputro, the younger brother of suspect Benny Tjokrosaputro. That said, RIMO denies having any relationship with ASABRI, even though ASABRI is a shareholder in the Company.

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Market This Week

Global stock markets turned red on Friday last week (June 18) due to concerns over rising inflationary pressures and the possibility of early tapering by the Federal Reserve (Fed). The United States (US) central bank signaled it might raise interest rates as early as 2023, a faster pace than initially thought, while Chair Jerome Powell said there had also been initial discussions about a bond-buying tapering. 

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Economy & Renewed Concern on COVID-19

The prospect of economic growth will be affected by the renewed concern of the COVID-19 pandemic, which increased again this year. The economic growth will be negative if the outbreak continues to increase until the third quarter (Q3) of this year.

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Fund Raisings

Bank Rakyat Indonesia (BBRI) plans to launch the rights issue, offering 28.67 billion new shares, representing 23.25% of enlarged capital. The proceeds will boost its capital adequacy ratio (CAR) to 23% from the current 19.8%. The Government has supported BBRI’s plan to launch the rights issue, called a non-cash transaction. The Government will absorb said rights issue and transfer all of the Government’s B shares in PNM and Pegadaian to BBRI.

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Oil Declines for 2nd Session

Oil prices fell on Friday, extending declines in the prior session, as the dollar strengthened on the prospect of interest rate hikes in the US. Demand worries also resurfaced after new corona virus cases jumped in Britain, while supply concerns over the return of...

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Commodity Prices Tumble

Commodity prices resumed their decline in the third week of June, as a stronger dollar, China’s moves to ease inflation and hawkish Federal Reserve forecasts lead investors to unwind bullish positions and sell futures contracts. Copper, considered an economic...

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