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Kapital News Highlight - Sept 3

Monday, September 3, 2018

A weekly highlight for your updated and forward-thinking financial insight : 

  • The leaders of Indonesia and Australia will announce the completion of negotiations on an Indonesia - Australia Comprehensive Economic Partnership Agreement (CEPA) when the Australian Prime Minister Scott Morrison meets President Joko Widodo at the Bogor Palace today. The CEPA agreements between the two countries will cover not only free trade pacts in goods, but also services and rules on investment as well as intellectual property. Moreover, the two leaders are expected to sign a strategic partnership and pacts on creative economy efforts, transport cooperation and cyber technology. Based on the Indonesian data, two-way trade between the countries was worth US$8,5billion last year, with a deficit of US$3,5billion on Indonesia's side. (Businesstimes)


  • According to tech advisor to former US President Bill Clinton, Franklin Urteaga said that China's Belt and Road Initiative (BRI) will have a positive impact to the world economy. The BRI comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It focuses on the connectivity and development between Eurasian countries. Urteaga added that the BRI will generate 25 percent of the global GDP.A senior fellow of Hoover Institution at Stanford University Kenneth Judd believed the BRI can benefit the world economy as it is creating greater access across the countries. (Source ECNS)


  • In the middle of an escalating war between China and the US that threatens exporters, the Chinese government announced new steps to cut costs for companies as policymakers look to support growth. Beijing is accelerating infrastructure spending and offering help to smaller companies as China's economy cools and US trade tensions intensify. The Cabinet said that cutting taxes and reducing costs were key initiatives to implement active fiscal policy and to ensure a stable economy. Moreover, the Cabinet decided to increase the rate of export tax rebates for some products, and increased the amount banks can lend to small companies and not have to pay taxes on interest income. (Channel News Asia)


  • A study by the Institute for Development of Economics and Finance (Indef) together with the Asosiasi Fintech Indonesia (Aftech) shows that Fintech was able to contribute Rp. 25.97 trillion for the Indonesian economy both directly and indirectly. (Okezone)


  • Bhima Yudhistira, Indef Economist predicts Indonesia's economy in the third quarter is quite stable due to the Asian Games, mainly supported by the tourism sector, household consumption, and retail. According to Bhima, infrastructure development and promotion carried out during Asian Games became a positive growth engine for the Indonesian economy. (BeritaSatu)


  • The Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) have agreed to work together on financial technology. Both authorities will work on the application of blockchain and distributed ledgers, big data, application programming interfaces, and digital and mobile payments. (Arabian Business)

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