Task force has confiscated billions of rupiah worth of illegally imported goods since its establishment, including thousands of tools such as grinders and drills, electronic gadgets, furniture, textiles, leather goods, footwear and alcoholic beverages, among many others.

A business association now expects sales growth in the sector to slow to 5 percent this year, far below its previous projection of 7-9 percent.

The think tank suggested that an increase in revenue should be achieved by reducing tax incentives, such as those given to smelter operators.

President Joko “Jokowi” Widodo has appointed Dadan Hindayana to head the National Nutrition Agency less than a week after he signed presidential regulation No. 83/2024 on Aug. 15 stipulating the establishment of the agency.

Lam's visit to Beijing, his first overseas trip since coming to power, signals a desire between the two communist neighbours to strengthen ties, amid growing trade and investment, despite occasional clashes over boundaries in the South China Sea.

A high-ranking government official estimates that 7 to 16 percent of the country’s population is vulnerable to starvation amid declining domestic rice production.

The trade deficit with China hit US$1.7 billion in July, more than twice as high as a year earlier, driven by imports of mechanical equipment, electrical goods and vehicles.

Ebbing inflation aligns with anecdotes from businesses that consumers are pushing back against high prices, through bargain hunting, cutting back on purchases and trading down to lower-priced substitutes.

Japan's economy expanded by a much faster-than-expected annualized 3.1 percent in the second quarter, rebounding from a slump at the start of the year thanks to a strong rise in consumption and backing the case for another near-term interest rate hike.

In the first phase from 2024 to 2027, the government aims to acquire 62 new passenger train sets at an estimated cost of 10.7 billion ringgit ($2.4 billion) to be paid in installments over a 30-year lease period, Minister Anthony Loke told reporters. 

Industry association PHRI says hotels in East Kalimantan have reached full capacity following a surge in booking demand ahead of the planned Independence Day celebrations in Nusantara, but has also assured that the resulting rate increases would normalize afterward.

The World Economic Forum estimates that more than two-thirds of new value creation over the next decade could come from digitally enabled platforms, and the digital economy will reach $16.5 trillion and capture 17% of global GDP by 2028 for 14 countries across North America, Europe, APAC, and Latin America.

Fitch lowered Israel's rating from "A+" to "A".

Bahlil declined to provide details on the Japanese and South Korean companies he claimed were planning to invest in the project.

President-elect Prabowo Subianto has reiterated his commitment to the development of Nusantara as Indonesia’s future capital city.

The real estate market within Jakarta and its periphery area had remained robust as it is mainly driven by commercial considerations rather than external influences, such as Nusantara.

Analysts recommend that the government support the lower- and middle-income segments by expanding direct social aid, creating more job opportunities and avoiding additional taxes that could strain consumers.

Leading Vietnamese electric vehicle (EV) maker VinFast held a groundbreaking ceremony on July 15, 2024 for its first Indonesian assembly plant in Subang, West Java.

The Industry Ministry noted that jobs in the textile industry were continuing on a downward trend in early August after it entered contraction territory in July, the first time since August 2021 at the height of the pandemic.

An official from the public works ministry has announced that Seoul is investing Rp 11 million in an underwater road tunnel connecting Nusantara and Balikpapan, a 88.54 kilometer project of which 76.4 percent has been completed to date.

HSBC Indonesia began its humble beginnings in 1884 by opening an office in Batavia (presently Jakarta).

The government and experts say a slowdown in the world’s largest economy may bring advantages for emerging markets like Indonesia's by expediting the anticipated reduction in interest rates.

The building complex, comprising 10 towers with between 18 and 23 floors, has remained vacant since the pandemic ended in 2023.

Trade Minister Zulkifli Hasan says a task force working to root out illegal imports has found that many foreign nationals are acting as distributors and have access to local warehouses for storing goods brought into the country.

Gibran also assured that milk in the program would comply with health standards to reduce diabetes risk in children.

Sri Lanka's cabinet has approved the signing of a trade agreement with Indonesia in March, a government official said on Tuesday, as the island seeks to revive its crisis-hit economy following a severe foreign exchange crunch in 2022.

While cautioning about a potential spillover effect from the global slowdown, President Joko “Jokowi” Widodo is insisting that the 2025 state budget must accommodate all programs of his successor, Prabowo Subianto.

The government says it could push state spending to boost gross domestic product (GDP) growth in the second half of the year as data published on Monday points to a slight deceleration of the economy.

Politicians have pointed fingers, analysts have noted cause for concern and business representatives have called for concrete measures after 34 consecutive months of expansion in manufacturing activity came to an end in July.  

The senior investment minister has reiterated his stance that he would not join the cabinet of the incoming government but would be willing to fill an advisory role, saying that it was time to hand over the reins to the younger generation.