President Prabowo Subianto (right), in his capacity as chairman of the Gerindra Party, delivers his speech during the 17th anniversary of the party at Sentul International Convention Center, Bogor, West Java, on Feb. 15, 2025.

Prabowo to fund $20 billion Danantara with budget cuts, SOE dividends

The fund’s immediate priority would be kickstarting 15 multibillion-dollar megaprojects without tapping external financing, according to the President, such as renewable energy, advanced manufacturing, downstream industries and food production.

8 months ago

Regulations

Prabowo says new export measure to add $80b to forex reserves

President Prabowo Subianto on Monday signed a regulation requiring exporters of resources other than oil and gas to hold all proceeds locally for at least a year, which he said would add US$80 billion to the country's forex reserves. ...

8 months ago

Markets

Yen jumps; Aussie, kiwi firm ahead of rate decisions

The yen rose on Monday in a boost from upbeat Japanese GDP data, while the Australian and New Zealand dollars held broadly steady ahead of policy decisions later in the week. ...

8 months ago

The Latest

Pedestrians walk past a car dealership for Japanese automaker Toyota in Tokyo on May 8, 2024.

Economy

Japan growth slowed to 0.1% in 2024 despite stronger Q4

Japan's economic growth slowed sharply in 2024, cabinet office data showed on Monday, although the rate for the fourth quarter beat market expectations thanks to strong exports.

8 months ago

An undated areal photo shows the Karawang Industrial Area in West Java.

Economy premium

Investors bleed trillions to rampant CSO extortion in industrial zones

Illegal levies can eat up as much as 30 percent of total production costs, with bribes and extortion money flowing to multiple actors, including civil society organizations (CSOs), according to Transparency International Indonesia (TII).

8 months ago

A bank employee counts China's renminbi or yuan notes next to US dollar notes at a Kasikornbank branch in Bangkok on Jan. 26, 2023.

Economy

China's central bank governor says stable yuan key to global financial stability

People's Bank of China Governor Pan Gongsheng told a conference in Saudi Arabia that while most currencies have fallen against the dollar, the yuan has remained stable.

8 months ago

Secured supply: A worker carries a sack of sugar on his shoulder in this undated image.

Markets premium

Govt to import 200,000 tonnes of sugar ahead of Ramadan

The National Food Agency (Bapanas) plans to import 200,000 tonnes of raw sugar to safeguard government stocks and prevent excessive price fluctuations ahead of Ramadan.

8 months ago

This aerial photo taken on June 28, 2024, shows newly-produced BMW cars parked at a factory in Shenyang, in China's northeastern Liaoning province.

Economy

Trump keeps tariffs drumbeat going, with autos targeted next

"I would have done them on April 1 [...] But we're going to do it on April 2," Trump says on potential auto tariff.

8 months ago

A printed circled board on display is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, on Sept. 16, 2022.

Tech

No need for one country to control chip industry, Taiwan official says

"The semiconductor industry is highly complex and requires precise specialisation and division of labour. Given that each country has its own unique industrial strengths, there is no need for a single nation to fully control or monopolise all technologies globally."

8 months ago

Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, on Jan. 18, 2024.

Companies

OpenAI board rejects Musk's $97.4 billion offer

OpenAI on Friday rejected a US$97.4 billion bid from a consortium led by billionaire Elon Musk for the ChatGPT maker, saying the startup is not for sale and that any future bid would be disingenuous.

8 months ago

Honoring educators: President Prabowo Subianto (left) salutes the teachers during the National Teachers' Day event in Jakarta, on Nov. 28, 2024. Also attending the event were (from left to right) Cabinet Secretary Teddy Indra Wijaya, Finance Minister Sri Mulyani Indrawati, Indonesian Military (TNI) commander Gen. Agus Subiyanto, Home Minister Tito Karnavian, National Police chief Gen. Listyo Sigit Prabowo and Elementary and Secondary Education Minister Abdul Mu'ti.

Regulations premium

Govt reassures budget cut won’t impact contract workers, scholarships

The government has reassured that the budget cuts will not result in the axing of contract workers or the cancellation of Indonesia Smart Card (KIP) Kuliah program beneficiaries.

8 months ago

Small gold bars minted by state-owned diversified miner PT Aneka Tambang (Antam) are displayed on May 20, 2024, at a pawnshop in Jakarta.

Markets premium

Indonesian investors flock to gold amid economic uncertainty

Global prices soared to an all-time high this week as many investors turn to the precious metal as a safe haven asset amid geopolitical and global economic uncertainty.

8 months ago

A screen at the Indonesia Stock Exchange (IDX) in Jakarta shows stock quotes on Jan. 2, 2025. The IDX Composite Index closed 0.38 percent higher at 6,638.45 on Friday

Markets

IDX Composite rises after US tariff delay

The IDX Composite closed 0.38 percent higher on Friday, rebounding after the previous day’s decline.

8 months ago

A worker walks in front of the State Palace at the government office complex in Nusantara, North Penajam Paser, East Kalimantan, on Nov. 10, 2024.

Regulations premium

IKN’s budget bumped to Rp 14t despite broader cuts

On Wednesday, House Commission II greenlit an additional Rp 8.1 trillion (US$520 million) for the megaproject, bringing the total 2025 allocation to nearly Rp 14 trillion.

8 months ago

Bags of rice are seen piled up at 'Koike rice shop' in Tokyo on Feb. 14, 2025. The Japanese government said it will release its stockpile of rice -- the nation's cherished staple food -- reserved for emergency use in response to soaring prices.

Economy

Japan to release emergency rice reserves to fight runaway inflation

The Japanese government said Friday it will release a fifth of its emergency rice stockpile after hot weather, poor harvests and panic buying over a "megaquake" warning nearly doubled prices over a year.

8 months ago

Turkey’s Energy Minister Alparslan Bayraktar (left) and Indonesia’s Energy Minister Bahlil Lahadalia (right) sign an agreement on Wednesday to develop the energy and mineral resources sectors, in front of Turkish President Tayyip Erdoğan and Indonesian President Prabowo Subianto at the Presidential Palace in Bogor, West Java.

Regulations premium

RI, Turkey ink agreement on hydrogen, nuclear plant development

Indonesia and Turkey inked an agreement to boost renewable energy development during Turkish President Recep Tayyip Erdoğan’s state visit on Wednesday.

8 months ago

An honor guard welcomes President Prabowo Subianto to the Government Palace in Lima on Nov. 14, for a meeting with Peruvian President Dina Boluarte on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit 2024. (Reuters/Agustin Marcarian)

Regulations premium

Prabowo to launch Danantara’s $20b venture on Feb. 24

The President has announced that the country's new investment agency Danantara will be launched on Feb. 24 with an initial capital of around $20 billion.

8 months ago

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, US, on April 4, 2024.

Markets

Asian stocks follow Wall St higher on tariff roadmap

Asian stocks tracked Wall Street higher on Friday, while the dollar eased as investors contended with US President Donald Trump's reciprocal tariffs that were not immediately imposed as well as US data allaying investor worries on inflation.

8 months ago

Coal barges transport the commodity on Aug. 16, 2022, near a coal terminal in Samarinda, East Kalimantan.

Regulations premium

Businesses should jump to invest in coal, Bahlil says

The energy minister is touting coal as a renewed investment opportunity with solid potential, alleging that Trump's announcement on US withdrawal from the Paris Agreement had triggered a global about-turn in clean energy efforts.

8 months ago

Industry Minister Agus Gumiwang Kartasasmita speaks to reporters on Jan. 7, 2025, at the Industry Ministry building in Jakarta.

Economy premium

Must ‘find ways to reignite interest’ in buying cars, minister says

Last year's decline marked the second consecutive annual drop in car sales since the 2022 peak.

8 months ago

President Prabowo Subianto (center) welcomes a member of his Red and White Cabinet during a special retreat for newly installed ministers and select aides held on Oct. 24-27, 2024, at the Indonesian Military (TNI) Academy in Magelang, Central Java.

Regulations premium

Govt expands efficiency policy to include National Police, Defense Ministry

After a bumpy start to implementing the President's instruction to slash budgets across ministeries and agencies, including some "misinterpretation", the government has decided to include 13 out of 16 institutions that were initially exempt from the sweeping efficiency policy.

8 months ago

Buildings that will be used by several coordinating ministries are seen under construction on Aug. 17, 2024, in Nusantara, East Kalimantan, as Indonesia marks its 79th Independence Day.

Regulations premium

IKN Authority staff to start working from Nusantara in March

The government planned to have some civil servants start working from the future capital city starting this January, but the Administrative and Bureaucratic Reform Ministry issued a letter in early February to postpone the move indefinitely.

8 months ago

A man walks into the headquarters of the Sony Group Corporation in Tokyo on Feb. 14, 2024.

Companies

Sony hikes profit forecast on strong gaming business

The conglomerate said it now expects a net profit of 1.08 trillion yen (US$7 billion) in the year ending March 31, compared with an earlier projection of 980 billion yen.

8 months ago

A farmhand feeds cattle on June 22, 2023, at a livestock farm in Sidodadi village, Deli Serdang regency, North Sumatra.

Companies premium

Australian businesses to explore free meals cooperation

An Australian business delegation has arrived in Jakarta for talks on how they might contribute to President Prabowo's flagship free meals program, through potential cooperation in technology transfers and supply chain development.

8 months ago

President Prabowo Subianto (left) and Turkey's President Recep Tayyip Erdogan inspect a guard of honor during a welcoming ceremony at the Bogor Palace in West Java, on Feb. 12, 2025.

Economy premium

Prabowo asks Erdogan to lower tariffs on Indonesian exports

Indonesian exports to Turkey surged to $1.94 billion last year, marking a 26 percent increase from the previous year and nearly reaching the five-year peak of $2.05 billion recorded in 2022.

8 months ago

An official of state-owned pawnshop Pegadaian shows a small gold bar minted by state-owned diversified miner PT Aneka Tambang (Antam) in Jakarta on May 20, 2024.

Markets premium

OJK to form gold council to support bullion business

Agusman explained that the council would have a similar function to the World Gold Council in London in facilitating demand for gold.

8 months ago

Cargo trucks are pictured at a container terminal of Tanjung Priok Port in North Jakarta in this undated photograph.

Economy premium

Amid global trade upheaval, Jakarta sticks to China+1 strategy

The government continues to pitch Indonesia as an alternative manufacturing location while China is under pressure from US sanctions, but experts have doubt that strategy still works.

8 months ago

Companies

GoFood’s food trend: Unveiling flavors that took the stage in 2024

Serving an essential guide for foodies to discover new dishes and merchants to stay ahead of the game

8 months ago

Aerial view of Sanur Special Economic Zone (SEZ), Bali, in an undated photo.

Companies premium

Challenges of healthcare tourism special economic zone

As an illustration, Indonesia loses some US$11.5 billion annually as over 1 million citizens seek treatment overseas.

8 months ago

Economy

How ASEAN is moving up the value chain

ASEAN member states are expected to witness robust economic growth and development in the coming years, buoyed by shifting global supply chains and rising affluence.

8 months ago

Page: 49