The Today's Headlines section of Indonesia Investments is a regularly updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
Indonesia's biggest banks seem to have done good business in the third quarter of 2018. After the positive Q3-2018 corporate earnings of Bank Mandiri that were released earlier this week, another major bank in Indonesia - Bank Negara Indonesia (BNI) - now shows similar positive numbers.
Bank Mandiri, one of the biggest financial institutions in Indonesia and the sixth-largest company that is listed on the Indonesia Stock Exchange (in terms of market capitalization), saw its net profit rise 20 percent year-on-year (y/y) to IDR 18.1 trillion (approx. USD $1.2 billion) up to and including the third quarter of 2018.
Based on a circular that was issued by Indonesia's Manpower Ministry on 15 October 2018, the Indonesian government plans to raise provincial minimum wages by 8.03 percent in 2019. Provincial governors have up to 1 November 2018 to officially determine the local minimum wage for 2019.
Nearly one year after US President Donald Trump confirmed the US would recognize Jerusalem as the capital of Israel and move its embassy from Tel Aviv to Jerusalem, Australian Prime Minister Scott Morrison followed suit by suggesting that Australia plans to make the same risky move. Morrison said Australia is considering to recognize Jerusalem as the capital of Israel and to move its embassy to the holy city.
