TheJakartaPost

RI meets crude lifting target for first time in years, claims Bahlil

The Indonesian oil industry has met its crude lifting target set in the 2025 state budget, marking the first time the country managed to do so in almost a decade, while gas output failed to meet the goal. ...

13 hours ago

Crunch time for EU's long-stalled Mercosur trade deal

The EU is expected Friday to give a long-delayed go ahead to a huge trade deal with South American bloc Mercosur championed by business groups but loathed by many European farmers. ...

14 hours ago

The Latest

An electronic quotation board displays numbers of the Nikkei Stock Average on the Tokyo Stock Exchange in Tokyo on Jan. 5, 2026.

Markets

Asian stocks rally ahead of US jobs, Supreme Court ruling

Asian markets rose Friday after a two-day stutter as traders look ahead to the release of crucial US jobs data and a possible Supreme Court ruling on Donald Trump's sweeping global tariffs.

16 hours ago

A worker tidies up a stack of locally produced rice on May 30, 2024, at state food company Perum Bulog’s warehouse in Indramayu, West Java.

Bulog’s expanding role puts private rice millers to the test

The government has unveiled plans for Bulog to build 100 post-harvest facilities, backed by Rp 5 trillion in state capital injections, aiming to ease chronic storage bottlenecks that have long limited the absorption of farmers’ harvests.

20 hours ago

Finance Minister Purbaya Yudhi Sadewa's face is displayed on screen during his speech in the main hall of the Indonesia Stock Exchange (IDX) building in Jakarta on Dec. 3, 2025.

Budget scrapes through 2025 with deficit just below legal cap

Last year’s fiscal deficit, or the amount by which state spending exceeded state revenue, was larger than planned at 2.92 percent of GDP, the finance minister revealed on Thursday.

1 day ago

A barge carrying coal is seen on Oct. 31, 2023, at the dock next to the Suralaya coal-fired power plant in Cilegon, Banten.

RI to cut coal production by nearly a quarter to lift prices

Energy and Mineral Resources Minister Bahlil Lahadalia said this year’s coal production quota would be set at around 600 million tonnes, pending a final review by the ministry’s director general.

1 day ago

President Prabowo Subianto inspects various downstream agricultural innovations and modern farming technologies on Jan. 7, 2026, during a series of National Harvest activities in Kertamukti Village, Karawang Regency, West Java.

Indonesia sets sights on rice exports this year

The government also expressed confidence that Indonesia will end imports of white crystal sugar (GKP) this year, backed by a large-scale sugarcane plantation project in East Java.

1 day ago

Finance Minister Purbaya Yudhi Sadewa addresses questions on Sept. 19, 2025, by reporters at the State Palace, Central Jakarta.

Purbaya focusing on ‘peripheral measures’ over core issues: CSIS

Core fiscal and structural challenges, including high bond yields and legal and political uncertainty, continue to be a concern for the country, despite Finance Ministry optimism, according to CSIS.

1 day ago

A worker takes a blood sample from a pig at a livestock farm operated by PT Indo Tirta Suaka (ITS) on Bulan Island in Batam, the Riau Islands, in this undated handout photo from the Agriculture Ministry.

Indonesia bans Spanish pork imports over ASF outbreak

The national quarantine body has banned all imports of Spanish pork and pork products following a confirmed ASF outbreak in the European country, in a measure that aims to protect the domestic pig farming industry as well as native wild boars from the highly virulent and fatal swine disease.

1 day ago

US Treasury Secretary Scott Bessent (right) and US Trade Representative Jamieson Greer arrive to deliver a news conference in Geneva on May 12, 2025, to give details of “substantial progress“ following a two-day closed-door meeting between US and China top officials aimed at ending a devastating tariff war.

Bessent, Lutnick to join Trump at Davos

US Trade Representative Jamieson Greer and special envoy to the Middle East Steve Witkoff will also be part of the planned delegation, the source said.

1 day ago

An aerial photo shows a palm oil plantation (right) and a peatland forest in Bangsal village, Ogan Komering Ilir regency, South Sumatra on June 10, 2025.

Regulations

Indonesia may seize another 5 million hectares of palm oil plantations in 2026

Authorities seized more than 4.1 million hectares of land last year, arguing it was being illegally operated in forest areas by both large palm oil companies and smallholder farmers.

1 day ago

Lofty ambitions: A worker works on the roof of an under-construction house on Aug. 6 in a subsidized housing estate in Bogor, West Java.

New housing agency plan unnecessary, reduces efficiency, businesses say

Experts warned that the new body could overlap with the Housing and Settlements Ministry and BP Tapera, bloating the housing program with layers of bureaucracy.

2 days ago

The Containerized Battery Energy Storage System (CBESS) developed by solar power developer SUN Energy is seen bext to a solar panel farm (right) in Feb. 2025 at the site of coal mining contractor PT Cipta Kridatama in Maura Bungo, Jambi.

Companies

SUN Energy shifts to integrated energy solutions, energy storage

The integration between power generation, storage and energy management system will become an important foundation to ensure supply reliability and emission efficiency.

2 days ago

A sign for an Swedish furniture store Ikea is seen on Feb. 26, 2024 in Round Rock, Texas, the United States.

Companies

IKEA to close stores in China amid strategy shift

The stores earmarked for closure include one in suburban Shanghai, another in Guangzhou, and several more in second-tier Chinese cities such as Nantong, Xuzhou and Harbin, IKEA said in the statement posted to its official WeChat account.

2 days ago

Companies premium

Unilever to sell SariWangi tea stake in $89m deal

The multinational company is divesting its stake to PT Savoria Kreasi Rasa, an affiliate of local conglomerate Djarum Group.

2 days ago

An oil pumpjack operates at dusk Willow Springs Park in Long Beach, California on April 21, 2020, a day after oil prices dropped to below zero as the oil industry suffers steep falls in benchmark crudes due to the ongoing global coronavirus pandemic

Oil extends losses as Trump flags Venezuela shipments

Crude has seen wild swings since the US president ordered the toppling Saturday of Nicolas Maduro, his counterpart in Caracas, and said Washington would run the country while demanding "total access" to its key resource.

2 days ago

A worker operates an automatic embroidery machine on Oct. 7, 2025, at Anuhi Kahti Konveksi, Tangerang City, Banten.

RI imposes safeguard duties on cotton fabric imports

The measure is regulated under Finance Ministry Regulation No. 98/2025, signed by Finance Minister Purbaya Yudhi Sadewa on Dec. 22, with the tariffs set to take effect this Saturday.

2 days ago

An electronic quotation board displays numbers of the Nikkei Stock Average on the Tokyo stock Exchange in Tokyo on Nov. 5, 2025.

Markets

Crude oil slumps, Asian shares edge lower as global tensions climb

US President Donald Trump said Venezuela will be "turning over" up to 50 million barrels of oil to be sold at its market price following the toppling and capture of the nation's leader.

2 days ago

A worker stacks rolls of fabric ready for export on April 15, 2025, at the Trisula Textile Industries factory in Cimahi, West Java.

Trade protectionism to persist in 2026

Trade protectionism has become a new normal that economists say Indonesia will have to navigate carefully this year through market diversification.

2 days ago

Industrial Digging: Excavators transfer soil to transport trucks on July 28, 2023, at a nickel mine operated by nickel mining company Vale Indonesia in Sorowako, South Sulawesi.

Miners call for faster quota approvals amid rule shift

While temporary permits have provided short-term relief, experts warn that a growing backlog could undermine investment certainty and the sector’s long-term stability.

3 days ago

Stock traders monitor the Jakarta Composite Index (JCI) on April 8, 2025, in South Tangerang, Banten.

Markets premium

IDX Composite sets new all-time high above 8,900

The principal Indonesian stock market gauge closed at a fresh record on Tuesday, supported by strong commodity stocks and global risk appetite.

3 days ago

A passenger train runs on an elevated track on Aug. 5, 2025, in Jakarta's central business district.

Banking sector 2026: Gaining altitude?

Indonesia’s banking sector had a tough time in 2025 due to several challenges, mostly stemming from weaker domestic demand. A struggling middle-to-low-income class has put pressure on banks from the assets and liability side.

3 days ago

Caracas limbo: A car drives on an empty street on Jan. 3, 2026 after United States President Donald Trump said the US has struck Venezuela and captured its president, Nicolas Maduro, in Caracas.

Companies premium

US raid has not affected Venezuela operations, Pertamina says

Indonesian government officials and an industry group have said the crisis in Venezuela has had little to no impact on the country’s economic activity so far.

3 days ago

Attendants wait for customers at a Shell gas station in an unknown location on Sept. 19, 2025, as a gasoline shortage sweeps private retailers, in part due to a corruption scandal linked to state-owned energy giant Pertamina.

RI raises fuel import quota for retailers after 2025 supply snarl

Following last year’s fuel snafu, the government has decided to increase this year's import quotas for private retailers, but has not publicly announced by how much.

3 days ago

Pedestrians walk in front of an electronic quotation board displaying the Nikkei Stock Average closing price at 40,000 yen level on the Tokyo Stock Exchange in Tokyo on June 27, 2025.

Markets

Asian stocks extend record rally while oil, dollar drift

US big oil got a boost from the country's military raid at the weekend that captured Venezuelan President Nicolas Maduro.

3 days ago

Gold and silver bars are seen on Jan. 10, 2025 in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany.

Food, gold push inflation to highest level since 2022

Inflation in 2025 reached the highest level in three years, spurred by increasing prices for various food commodities but also for gold, as the precious metal reached record highs in a world marked by uncertainty.

4 days ago

RI surplus holds despite weaker coal exports, rising imports

The US$2.66 billion surplus in November extended the country’s run of monthly surpluses to 67 consecutive months.

4 days ago

A taxpayer takes a photo of the guideline for requesting online taxation services on Nov. 20, 2023, at a counter at the Kebayoran Baru 1 branch of the tax office in South Jakarta.

Indonesia extends income tax relief for labor-intensive industries

Tax relief is provided for employees working in five business sectors: footwear, textiles and apparel, furniture, leather and leather goods, as well as tourism.

4 days ago

Krakatau Steel employees watch the production of hot rolled coil (HRC) steel on May 17, 2021, in the company's second hot steel mill in Banten.