Tycoon Hashim Djojohadikusumo said Prabowo was always “more of a socialist” on account of his late father Sumitro Djojohadikusumo, the last chairman of the Indonesian Socialist Party (PSI) before its dissolution in 1960.

Central government spending in the 2025 state budget has been set at Rp 2,701.4 trillion, consisting of non-ministry/institutional spending of Rp 1,541.3 trillion and ministry/institutional spending of Rp 1,160.1 trillion. Since 2021, central government spending has grown by 9.5 percent.

The Agriculture Ministry expects Indonesia will be self-sufficient in rice in 2027 and capable of exporting the commodity in 2028.

HSBC Indonesia, along with Batavia Prosperindo Aset Manajemen (BPAM), have jointly rolled out a mutual fund product, Batavia India Sharia Equity USD (BISE), a solution for affluent investors eager to expand their investment portfolio to Indian markets while adhering to sharia principles.

Analysts and a business association say clean power has become a top priority for foreign companies when selecting locations for overseas factories, especially for electric vehicle and battery manufacturers.

A former trade minister and World Bank director has cautioned Indonesia to look ahead and anticipate potential global disruptions that could affect the country's fiscal stability.

Retailers in Indonesia have expressed pessimism in their sales outlook one day after another survey showed that consumer confidence in the country is weakening.

The Transportation Ministry is planning auctions for the development of Tanjung Carat Port in South Sumatra, Makassar New Port in South Sulawesi and Ambon New Port in Maluku.

Indonesia has seen little to no progress in shifting the focus of development away from Java over the past decade, notwithstanding the promise of President Joko “Jokowi” Widodo to even out economic activity across the country.

The President expects GDP per capital to grow almost 40 percent to $7,000 over the next five years and nearly 80 percent to $9,000 by 2034, with Indonesia claiming a place as an Asian superpower alongside India and China.

The president-elect’s top adviser, Hashim Djojohadikusumo, says the incoming administration will seek to build 3 million housing units per year, and smaller businesses rather than big construction conglomerates are set to get the largest part of the pie.

Developers from Hong Kong and China have already shown interest in the project. Others include a hydraulic research institute. 

President-elect Prabowo Subianto will increase the country's debt-to-GDP ratio level gradually, alongside efforts to boost tax revenues, his top adviser and brother Hashim Djojohadikusumo told a seminar on Monday.

Vietnam's economy grew by 7.4 percent in the third quarter, government figures showed Sunday, despite severe economic damage caused by deadly Typhoon Yagi.

The staggered reopening covers US ports from Maine to Texas following Thursday night's preliminary agreement between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX).

A construction industry association has expressed hope that the incoming Prabowo administration would look to reduce the dominance of state-owned construction firms and help revive the growth of regional contractors, which were often sidelined in major development projects under President Jokowi's infrastructure drive.

European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45 percent on imports of Chinese-made electric vehicles in the bloc's highest profile trade case, which risks retaliation from Beijing.

US dock workers and port operators reached a tentative deal that will immediately end a crippling three-day strike that has shut down shipping on the US East Coast and Gulf Coast, the two sides said Thursday.

The government expects the feasibility study on the planned extension of the Jakarta-Bandung HSR to Surabaya to be completed this year, even as the country prepares for the transfer of power later this month.

Long lines of container ships queued up outside major US ports on Thursday as the biggest dockworker strike in nearly half a century entered its third day preventing unloading and threatening shortages of everything from bananas to auto parts.

“The problem is not always [influxes of foreign goods]. The problem is more fundamental; it’s capital expenditure [capex]. If an industry does not fix its capex, it will be automatically outcompeted,” the coordinating economic minister said on Monday.

The ministry has finished preparing wetlands in Merauke district for agricultural purposes, with further plans to distribute machinery, technology and other assistance for farmers to increase production in support of the overarching goal of food security.

President Joe Biden’s administration heaped pressure on US port employers to raise their offer to secure a labor deal with dockworkers on strike for a second day on Wednesday, choking half the country’s ocean shipping.

September data show that the annual inflation rate eased to 1.84 percent, primarily driven by falling food prices due to increased supply following the recent harvest season, with analysts forecasting 25 bps cuts to the BI-Rate in both November and December.

The latest BPS report notes that inbound tourism until August had reached the highest level since 2020, while domestic tourism also saw a comparable increase over the first eight months of the year.

An uptick in employment and a surge in confidence indicate growing optimism about business prospects.

India on Saturday allowed exports of non-basmati white rice. That came a day after New Delhi cut export duty on parboiled rice to 10 percent, buoyed by a new crop in the offing and higher inventories in state warehouses.

China's factory activity shrank for a fifth straight month and the services sector slowed sharply in September, suggesting Beijing will need even more stimulus to hit its 2024 growth target with only three months left in the year.

India gave the go-ahead on Saturday for exports of non-basmati white rice to resume as inventories in the world's biggest exporter of the grain surge and farmers prepare to harvest a new crop in the coming weeks.

Notable figures in the field of economics have hailed Sri Mulyani's capabilities during her two separate stints as finance minister over the past two decades, marked by the recent launch of her authorized biography on Sept. 20.