The agreement to launch direct flights between the two countries is in its final stages, according to a tourism ministry official, and is the latest move in Jakarta's efforts to expand bilateral ties with Tehran.

The Finance Ministry has responded by saying that it would review the request, including whether accommodating the extra spending was feasible without widening the projected deficit range of 2.29-2.82 percent of GDP.

The Customs and Excise Directorate General collaborated with the Directorate of Narcotics Crime’s (Dittipid) Criminal Investigation Department under the Indonesian National Police to uncover a clandestine narcotics laboratory in Malang, East Java, on Tuesday.

Indonesia, accounting for over 20 percent of total impact capital deployed in the ASEAN region, with investments totaling US$1.44 billion from 2020 to 2022, has emerged as a leading force in impact investment. Recognizing Indonesia's pivotal role in the Global South, Impact Investment Exchange (IIX), a pioneer in global impact investing based in Singapore since 2009, has intensified its focus on the country.

The country’s poverty rate has fallen to a historic low this year while inequality, as measured by the Gini coefficient, has hit its lowest point in more than a decade, but both figures remain below the government’s target.

To ensure the smooth implementation of the haj this year, the Customs and Excise Directorate General, as an agency tasked with checking baggage that passengers carry to and from abroad, has pledged to provide optimal service for haj pilgrims prior to departure or on arrival to Indonesia.

The plant is a joint venture between South Korean manufacturers Hyundai Motor Group and LG Energy Solution (LGES) and can produce up to 10 Gigawatt hours (GWh) of battery cells every year.

Prabowo's economic adviser has touted the president-elect's flagship free school lunch project for its budget planning, thereby implicitly criticizing President Jokowi's legacy development project to relocate the nation's capital to East Kalimantan.

Consumer price index (CPI) growth has dropped to 2.51 percent, which ideally would translate into lower interest rates, but experts see no room for Bank Indonesia (BI) to adjust rates given the continued pressure on the rupiah.

The Association of Indonesian Retailers (Aprindo) projects annual sales growth between 4.7 and 4.8 percent this quarter, which would be roughly the same as the estimated performance in the last quarter.

Indonesia's PMI dropped in June to its lowest level in 13 months at 50.7, according to a S&P Global report, amid a weakened rupiah resulting in higher raw material prices.

Indonesians are eating too much rice to the point that nationwide production keeps falling short of demand. Many have proposed a diversification of local dietary habits, but rice consumption is deeply rooted in Indonesian culture, and switching to alternatives alone would not address structural problems in domestic farming.

President Joko “Jokowi” Widodo is seeking private-sector investors for the development of food estates.

The Industry Ministry’s IKI shows that manufacturing industries posted growth in June, all except for the textile sector, which fell below the threshold value of 50 amid its prolonged battle to gain a foothold against an influx of foreign imports.

A shortage of mid-sized companies has negative repercussions for employment and competition, according to the global financial institution.

Indonesia booked its first deficit of the year at 0.1 percent of GDP in May as state revenue fell 7.1 percent amid a flurry of spending that grew 14 percent in May, including on social assistance to mitigate the impacts of El Niño on food prices.

It is hoped Swift, along with the Olympics Games in France and the Euro 2024 soccer championship in Germany will provide a shot in the arm for a continent that has just skirted recession for most of the past two years and badly lagged the United States. 

The government has made inroads to luring investors for the Nusantara megaproject through an MoU on a partnership between the Land Bank Authority and Japan’s J Trust Group to develop Penajam Eco City, designed as a commercial hub to serve as the economic engine of the nation's new capital.

Experts say Indonesia should consider looking for a helping hand from China, South Korea or Europe, in addition to the United States and Japan, which led the initiatives with the JETP.

Private-sector businesses want hefty returns in order to engage in the future capital city, despite numerous incentives already offered to woo investors.

The United Nations Office on Drugs and Crime (UNODC) has decided to observe June 26 as International Day against Drug Abuse and Illicit Trafficking (HANI). This year, HANI carries the theme “The evidence is clear: invest in prevention”, which puts much emphasis on the importance of preventive measures in  addressing drug abuse.

Retailers, manufacturers and other industries that rely on massive box ships are again battling surging rates, port backups and shortages of empty containers, even as many consumer-oriented firms look to build inventories heading into the peak year-end shopping season.

Apindo says the government should address potential investors' concern over the new capital's small initial market composed of just civil servants and how it might resolve the demand issue.

The projected deficit would be higher than initially planned by the government in this year’s state budget of 2.3 percent of GDP.

The President expressed concern about the burden on local banks and wants the loan program to resume until the end of the year, even as Indonesia was the last country to phase out such pandemic-related special facilities in March.

China's Premier Li Qiang used his address at a World Economic Forum meeting in Dalian to hit back at accusations from the US and EU that Chinese firms benefit from unfair subsidies and are poised to flood their markets with cheap green technologies.

A 2003 law stipulates that Indonesia's fiscal deficit must not exceed 3 percent of GDP in any fiscal year and that the government’s total debt must stay within 60 percent of GDP.

Indonesian economy is expected to expand five percent overall this year, followed by 5.1 percent in 2025 and 2026, World Bank says.

Sri Mulyani has coordinated with president-elect Prabowo Subianto’s transition team to understand the next administration’s budget requirements, and emphasized the need for good management of the state budget.

That was despite the European Central Bank delivering a widely telegraphed cut to interest rates earlier this month.