Indian shares opened on a weak note Thursday after the U.S. Federal Reserve delivered a 25-bps rate cut as expected but revised its projections to signal just two interest rate cuts next year compared to the four previously forecast, citing stubbornly high inflation. The benchmark S&P/BSE Sensex was down 923 points, or 1.2 percent, at...
JAKARTA – PT Energi Mega Persada Tbk (ENRG), an oil and gas company owned by the Bakrie Group, plans to conduct a share buyback with a budget of USD 12 million. Assuming ENRG will be using Bank Indonesias mid-rate on December 17, 2024, of IDR 16,019 per USD 1, the total funds prepared by the...
JAKARTA – Bank Indonesia (BI) will increase the portion of the Macroprudential Liquidity Incentive Policy (KLM) assistance to IDR 290 trillion for hundreds of banks starting next year. Juda Agung, BIs Deputy Governor, stated that the KLM distribution next year will focus on sectors that generate the most employment. These sectors include agriculture, trade, housing,...
JAKARTA – PT Hero Global Investment Tbk (HGII), a renewable energy company, will conduct an Initial Public Offering (IPO) by releasing 1.3 billion shares. The shares offered by HGII represent 20% of the company’s issued and fully paid-up capital post-IPO. Each share has a nominal value of IDR 25 and will be offered at a...
JAKARTA - On Tuesday, December 17, foreign investor CGS International Securities Singapore Pte Ltd bought 155 million shares to its holdings inPT Astrindo Nusantara Infrastruktur Tbk (BIPI). This investor previously held about 15.67% ofBIPIs shares; however, this most recent acquisition raised that percentage to nearly16%. Energy infrastructure is the focus ofBIPIshares. Subsequently, Sendra Gunawan acquired...
JAKARTA – PT Daya Intiguna Yasa Tbk (MDIY), the issuer behind the MR. D.I.Y retail brand, is ready to seize the opportunities in the non-grocery retail segment, which remains substantial, after its listing on Indonesia Stock Exchange (IDX) today (19/12). MDIYs management shared that the non-grocery retail segment in Indonesia currently has a Total Addressable...
Indian shares edged lower at open on Friday, extending losses for a fifth day running amid concerns that U.S. President-elect Donald Trumps fiscal, trade and tariff policies could prompt the Federal Reserve to end its rate-cutting cycle. The benchmark S&P/BSE Sensex was down 292 points, or 0.4 percent, at 78,825 in early trade while the...
Retail sales and public sector finance from the UK and business and consumer confidence from Italy are due on Friday. At 2.00 am ET, the Office for National Statistics is slated to issue UK retail sales and public sector finance data. Sales are forecast to grow 0.5 percent on month in November, in contrast to...
European stocks are set for a weak opening Friday as focus shifts to U.S. personal income and spending data for November due later in the day, which includes the Feds preferred readings on consumer price inflation. The report assumes significance after the Feds new projections showed officials expect the core PCE to be stuck at...
The Peoples Bank of China maintained its interest rates unchanged for the second straight session on Friday. The PBoC maintained its one-year loan prime rate at 3.10 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.60 percent. The move was widely expected. The bank had cut its both LPRs by...