A spending bill backed by Donald Trump failed in the US House of Representatives on Thursday as dozens of Republicans defied the president-elect, leaving Congress with no clear plan to avert a fast-approaching government shutdown that could disrupt Christmas travel.

Raden Siliwanti, an expert staffer at the National Development Planning Ministry/National Development Planning Agency (Bappenas), has said the total investment needed for the next five years of 2025-2029 amounts to Rp 47,587.3 trillion (US$2.9 trillion).

Approaching the year 2025, the government is continuing to strive to maintain purchasing power and public welfare by preparing a package of policy incentives in the economic sector in the form of tax exemptions and relief for various levels of society and the business world, which will be implemented in early 2025.

New Zealand tipped into recession in the third quarter, official data showed Thursday, with the economy suffering an unexpectedly sharp slump that sent the country's currency tumbling and sparked political finger-pointing.

As Indonesia gears up to move forward with a new administration, a foundation that must be built upon is the strategic partnership and collaboration that has been fostered over many years with reliable international partners.

US President-elect Donald Trump urged Republican lawmakers Wednesday to scupper a cross-party deal to avert a fast-looming US government shutdown, as the White House accused him of "playing politics."

The Directorate General of Immigration has recorded a significant rise in travel in and out of Indonesia by foreign citizens this year, with 24.5 million border crossings logged as of Dec. 15.

The Directorate General of Immigration has set an ambitious goal for investment from golden visa recipients, and while a substantial sum has been amassed, it is less than half the amount targeted for this year.  

Low tax compliance may jeopardize the government's goal to lift the country’s tax revenue from 10 percent to 16 percent of GDP by 2030, according to the global financial institution.

The government announced on Dec. 16 that a partial VAT waiver on certain house purchases would be extended to mid-2025, and then through to the end of the year, but would be reduced by 50 percent in the second half.

The surplus came after exports grew by 9.14 percent year-on-year (yoy) to $24 billion in November, the second-highest since December 2022.

 “Our state revenue experienced extraordinary pressures until July or August," Finance Minister Sri Mulyani Indrawati said in a press briefing on Wednesday

Britain officially became the 12th member of a trans-Pacific trade pact which includes Japan, Australia and Canada on Sunday as it seeks to deepen ties in the region and build its global trade links after leaving the European Union.

The retirement business remains underdeveloped in Indonesia, but experts say the aging population at home and abroad means the time to invest is now.

The early retirement project for the Cirebon-1 has overshot its initial target to close the coal power plant by the year-end, but the ADB has brushed off the delay as part of the bumps expected in managing the pioneering project under the ETM.

The government will develop downstream industries, the digital economy and the semiconductor industry as the additional key drivers of growth.

The government plans to prioritize nuclear power plant development to meet demand outside ofJava, particularly for industrial parks and smelters.

Letting the yuan depreciate could make Chinese exports cheaper, thus blunting the impact of tariffs, and creating looser monetary settings in mainland China.

China's top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher trade tariffs in a second Donald Trump presidency in the United States.

The consumer confidence index (CCI) increased to 125.9 points in November from 121.1 in the previous month, according to a BI survey released on Monday.

Prabowo told his ministers and government officials that such tensions are expected to slow the growth of the world's major economies, without mentioning any country although citing a "military emergency" as an example.

The public’s increasing interest in online shopping is fully supported by the government through economic policies that favor small and medium enterprises (SMEs) and the community. For the past 12 years, the government has supported National Online Shopping Day (HARBOLNAS), initiated by the Indonesian E-Commerce Association (idEA), which is celebrated every Dec. 12. This initiative has proven to drive the growth of Indonesia's digital economy year after year.

In late October, Public Housing and Settlements Minister Maruarar Sirait estimated the ministry would need over Rp 23 trillion (US$1.44 billion) to meet the needs of the housing program annually, but for next year the Finance Ministry has only earmarked Rp 5 trillion.

The former US president unleashed a grueling trade war with China during his first term in office, lambasting alleged intellectual property theft and other "unfair" practices.

Chinese developers have spare capacity but face constraints in expanding abroad due to financial challenges following the property bust in their own country.

A minister said the President had pitched the giant seawall project to Japanese business leaders through flexible cooperation schemes, in a bid to woo potential investors to the mega infrastructure project aiming to mitigate coastal erosion and subsidence.  

Vietnam is vulnerable to becoming the Trump administration's next target for tariffs as data shows its trade surplus with the United States ballooning, industry executives and analysts said.

Switzerland's biggest bank, which is among the world's largest wealth managers, said the number of dollar billionaires increased from 1,757 to 2,682 over the past 10 years, peaking in 2021 with 2,686.

Renting has become an alternative option for those who prefer to avoid long commuting times from the outskirts of Jakarta, given that homeownership in the city center is unaffordable.  

Analysts say the agreement lacks the ambition needed for an equitable energy transition in Indonesia and have expressed concern over high costs and complex negotiations stalling progress.