A new omnibus bill is poised to pave a way for politicians and lawmakers to tighten their grip on authorities in the financial industry, raising concerns among experts and professionals that it may undermine governance of the sector.

A world-first block-to-block air transportation agreement between the ASEAN and the European Union promises passengers an increased number of flights and more destinations for travel between the two regions.

At their final meeting under Indonesia’s chairmanship this year, finance ministers and central bankers of the Group of Twenty (G20) members agreed to support countries in debt distress.

New rules on the pricing of low-carbon electricity are meant to boost investment in renewable energy, but experts warn that will not happen unless the government is on track with its renewable-energy infrastructure procurement, which would require a vast push in construction.

Indonesian officials have proposed to the Group of 20 a set of possible solutions to a looming global food crisis as geopolitical tensions threaten food and fertilizer supplies worldwide.

The World Bank said on Monday it is launching a trust fund aimed at pooling public funds to provide grants for projects to reduce carbon emissions, including decommissioning coal-fired power plants.

The Indonesian steel industry is expected to reinvigorate domestic production in 2023, after the government introduced a commodity balance scheme in a bid to manage imports and local outputs flow to support a surging demand for the metal goods. 

The Financial Services Authority (OJK) has expanded its regular monitoring of financial inclusion and literacy to the fintech industry to gauge the accessibility of services, as well as people’s understanding of those services.

President Joko “Jokowi” Widodo has urged his ministers to scale up the country’s food estate megaproject to boost agricultural productivity, even as technical problems continue to plague the program in its third year.

The government will continue to waive export levies on palm oil products, allowing the world’s largest supplier to keep boosting shipments abroad for the rest of this year.

The Agriculture Ministry’s Quarantine Agency (Barantan) announced that 1,940 tonnes of quarantined imported goods, which had been detained for 35 days, had finally passed health inspections and been released from facilities.

The government is preparing a regulation draft on carbon capture storage (CCS) and carbon capture utilization and storage (CCUS) as the country seeks to push its adoption to reduce carbon emissions from hard-to-abate industries, but whether this will be effective depends largely on a working financing mechanism.

The House of Representatives passed the 2023 state budget bill into law, restoring a targeted shortfall of below 3 percent, which has been detaining Indonesian fiscal expansion for the past three years due to the COVID-19 pandemic.

The Indonesian Ombudsman has urged the Agriculture Ministry and other government bodies to solve a horticulture imports conundrum that has seen billions of rupiah worth of goods detained.

State-owned electricity monopoly PLN has canceled its electric stove conversion program, two days after the company said that it had begun a trial with a total of 2,000 beneficiaries.  

The trade and investment meeting got all countries to agree on the need to reform the WTO. And Indonesia hopes the Bali Compendium it introduced gives it the upper hand in a dispute on nickel exports.

Bank Indonesia (BI) has passed its second key interest rate hike this year, just a day after the United States Federal Reserve raised rates by 75 basis points (bps) for the third time in a row.

Presidential Regulation No. 112/2022 is expected to help EVs become cleaner as it stipulates the early retirement of coal-fired power plants and provides a “relatively good” pricing scheme for electricity generated from renewables, making NRE projects more appealing to investors.

Trade Ministry International Trade Negotiations Director General Djatmiko Bris Witjaksono insists Indonesia could appeal a WTO decision or use other means to protect its strategic interests.

To encourage local production, the Agriculture Ministry aims to expand the soybean planting area by 600,000 hectares in 2023.

The Indonesian Ombudsman estimated importers had to suffer a total loss of around Rp 3.2 billion (US$214,240), consisting of Rp 2.43 billion in utility costs and Rp 777 million in demurrage fees.

The government is pushing consumers to rely more on electricity and less on oil or gas as part of the country’s energy transition, but environmentalists and a researcher have told The Jakarta Post the move, for now, means little more than shifting from one fossil fuel to another.

The Energy and Mineral Resources Ministry aims to implement measures to reduce Indonesia’s dependence on imported liquefied petroleum gas (LPG).

President Joko “Jokowi” Widodo has mandated the use of electric vehicles (EVs) for government officials across the country in a move aimed at expediting the country’s transition to battery-powered transportation, but experts say that this alone will not mean the general public will follow suit.

After the recent fuel price hikes, some wonder why even supposedly unsubsidized gasoline in Indonesia is still priced far below global standards despite the high cost of oil imported to the country. And it has a lot to do with definitions.

The government has revised up its revenue projection for next year’s state budget, banking on higher income from taxes and extractive industries, but a planned hike in spending means this will not translate into a lower deficit.

Electric vehicle producers in Indonesia are expecting drivers to switch to battery power as rising gasoline and diesel prices make combustion engines less appealing.

The Commerce Department intends to publish new regulations based on restrictions communicated in letters earlier this year to three US companies -- KLA Corp, Lam Research Corp and Applied Materials Inc, the people said, speaking on the condition of anonymity. The plan for new rules has not been previously reported.

The International Monetary Fund is reportedly looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday.

Planned regulations aimed at strengthening data protection in Indonesia pose a significant threat to companies found to be noncompliant.