JAKARTA. Moody’s Rating has reportedly promoted Corporate Family Rating (CFR) ofPT Agung Podomoro Land Tbk (APLN)to Caa1 from the previous Caa3 starting from August 8, 2024. At the same time, Moody’s also revises APLN’s prospect from negative to stable. F. Justini Omas, Corporate Secretary of APLN, said that this rating and prospect upgrade reflects the...
Sarimelati Kencana Tbk (PZZA), the license holder of Pizza Hut in Indonesia, reported another loss of IDR 75.11 billion in the first half (H1) of 2024. The same loss could also be seen in the same period last year, in which PZZA reported loss of IDR 45.12 billion. However, in this first half, its loss...
JAKARTA – Amidst the streak of domestic consumption decline, Helmi Arman, Chief Economist of Citi Indonesia, believes that one of the keys to correct the issue lies on balanced growth of economic sector, giving more emphasis on labour-intensive sector, such as services sector. According to IDNFinancials record, domestic consumption growth has indeed slowed down in...
JAKARTA. PT Dian Swastatika Sentosa Tbk (DSSA), a mining company under Sinarmas Group, has reportedly acquired PT Teknovatus Solusi Sejahtera (TSS) for IDR 26.5 billion. Said acquisition is carried out through DSSA’s subsidiaries, PT SMPlus Sentra Data (SSD) and PT SMPlus Digital Investama (SDI). After the acquisition, SSD will control 99% of TSS, and the...
Xolare RCR Energi Tbk (SOLA), an asphalt manufacturer and distributor, has signed a contract of an extension of hauling road for coal phase 1, spanning 5 km in South Sumatra. Said contract is obtained from PT Servo Lintas Raya (SLR) and was signed earlier this week, on August 7, 2024, by SLR and one of...
European stocks moved higher on Wednesday as global markets extended gains from the previous session with investors shrugging off fears of recession and focusing on earnings and reacting to the latest batch of economic data. Markets also reacted positively to Bank of Japan Deputy Governor Uchida Shinichis comment that the Japanese central bank wont raise...
The European Central Bank can continue lowering interest rates if there is increased confidence among policymakers that inflation is slowing, ECB Governing Council member and Bank of Finland governor Olli Rehn said Wednesday. More rate cuts cannot hurt the fragile economic growth and the subdued investment, especially in industry, Rehn said in a speech in...
The Switzerland market ended on an upbeat note on Wednesday as investors tracked positive cues from global markets and kept picking up stocks right through the days session. Slightly easing fears of a U.S. recession, and comment from the Bank of Japans Deputy Governor that the central bank wont raise interest rates when financial markets...
The Thai stock market on Wednesday wrote a finish to the three-day slide in which it had slumped almost 50 points or 3.7 percent. The Stock Exchange of Thailand now rests just above the 1,290-point plateau although it may head south again on Thursday. The global forecast for the Asian markets is mixed to lower...
Indian shares opened lower on Thursday, tracking weak cues from global markets and ahead of the RBIs interest-rate decision later in the day. The central bank is likely to maintain the current rate of 6.5 percent due to persistent inflation and liquidity concerns. The benchmark S&P/BSE Sensex was down 293 points, or 0.4 percent, at...