Bank Indonesia (BI) has raised its key interest rates in what it calls a “preemptive measure” in light of global risks caused by the uncertain outlook of monetary policy in the United States and geopolitical tension in the Middle East.

Corruption remains a challenge, with 71 percent of respondents citing corruption as a key barrier.

During his working visit to Indonesia, Singaporean Foreign Minister Vivian Balakrishnan met with Coordinating Minister for Economic Affairs Airlangga Hartarto at the Office of the Coordinating Ministry for Economic Affairs on Tuesday. The meeting was in preparation for the Leaders’ Retreat between President Joko “Jokowi” Widodo and Singaporean Prime Minister Lee Hsien Loong at the Bogor Palace in West Java on April 29.

The March surplus was also driven by a more-than-anticipated drop in imports.

Insurance provider PT Asuransi Allianz Life Indonesia (Allianz Life) and PT Bank HSBC Indonesia (“HSBC Indonesia”) further strengthen their partnership and bancassurance distribution channel by launching Premier Legacy Assurance, a traditional whole life insurance product targeting affluent and high net worth individuals.

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan said Indonesia had invited China to share its technology and know-how in the development of rice farming in Central Kalimantan.

Indonesia also hopes for China's support in building ports and strategic industries.

As one of the pillars in the strategy to drive national economic growth, inclusive finance for various societal groups continues to be promoted by the government by enhancing equitable access to quality formal financial services at affordable costs according to the needs of people in various regions.

The agency cut its rating from AA- to A+, and said the outlook was negative.

Bank Indonesia (BI) has issued a statement that seeks to alleviate concerns about a weakening rupiah as the United States dollar is propped up by the American economy as well as by Iran and Israel trading blows.

The Asian economy is projected to remain resilient in the future, in spite of the global economic conditions that are challenged by current geopolitical turmoil.

Indonesian manufacturers are feeling the pinch, as a weakening rupiah exchange rate against the United States dollar and a surge in oil prices lead to higher input costs for local industry.

Indonesian consumers expressed more favorable views about the state of the domestic economy in March, according to Bank Indonesia’s latest monthly report.

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan will lead the technical details of the project.

A planned Formula One circuit to be built in a newly developed area of North Jakarta will boost tourism and help the automotive industry, but a well-developed plan is essential, experts say.

An escalation of the conflict could send the oil price up, which could then lead to higher energy subsidy spending.

Further escalation in the Middle East conflict could pose multi-layered economic risks to Indonesia, ranging from further capital outflows to weaker gross domestic product (GDP) growth, according to analysts and some former government officials.

The current conflict in the Middle East is intensifying with Iran's drone attacks on Israel on Sunday in retaliation for Israel's destruction of the Iranian consulate building in Damascus, Syria, on April 1, 2024. Besides escalating regional tensions to a global level, this conflict escalation will also affect the global economy and increase macroeconomic risks for the Indonesian economy.

Managing the state budget without fiscal discipline could be dangerous, Kadin said.

The biggest economy of Southeast Asia, Indonesia is also the country with the largest Muslim population.

China's commerce minister on Friday accused the European Commission of pursuing "protectionist" actions at the expense of green initiatives by launching investigations into Chinese subsidies.

OPEC predicted robust fuel use in the summer months on Thursday and stuck to its forecast for relatively strong growth in global oil demand in 2024, highlighting an unusually large gap between predictions of oil demand strength.

The ADB nudged its 2024 growth forecast but warned of persistent challenges such as rising geopolitical tensions, including in the Middle East, that could disrupt supply chains and reignite inflation.

The surge comes as millions in the country embark on mudik (exodus).

The President’s operational budget has been increasing in recent years.

US Treasury Secretary Janet Yellen said on Saturday that she and Chinese Vice Premier He Lifeng agreed to launch exchanges on "balanced" economic growth, an effort to address US concerns about China's excess manufacturing capacity.

Coffee roasteries and café owners have decided to increase prices to cope with the rising bean prices and to preserve the taste.  

The Quick Response Code Indonesian Standard (QRIS) can now be used as a payment method in Brunei Darussalam and Laos.

The sooner new administration send their policy directions to households and companies, the better.

Industry players want the government to help increase the clean power supply and to lobby other countries to continue accepting Indonesian products during the transition period.