The policy will reduce prices for flights booked between March 1 and April 7. The flights themselves must be taken between March 24 and April 7.

Set to officially launch in 2027, the cap-and-trade scheme will be separate from the voluntary carbon market as well as from the limited mandatory one for coal-fired power plants, both introduced in 2023.

According to Hashim, these funds will be partially funneled into Danantara, Indonesia’s newly established sovereign wealth fund (SWF).

The government has done little to strictly impose architecture regulations, which experts suggest is due to its difficult situation in balancing economic benefits and the adverse impact on local culture. 

Singapore may have to keep waiting for green electricity from Indonesia, as Jakarta demands a reassessment of the deal, but analysts warn that overcomplicating negotiations will put Indonesia at a loss.

“Can we do it? Yes, we can. I don’t know how long it will take, but insya Allah [God willing], with strong determination, we will make it happen," the President said on Tuesday

Chairman of BPKN Mufti Mubarok said on Wednesday that there's enough evidence to show that Pertamina mixed high-octane fuels with lower-octane fuels and marketed them as premium quality product, noting that consumers could file a class action lawsuit against the company.

The agency noted that a majority of proposals were primarily bids to serve as contractors or suppliers for projects in the area.

Indonesia in October prohibited the marketing and sale of the iPhone 16 model over Apple's failure to meet local investment regulations requiring that 40 percent of phones be made from local parts as the country seeks to boost investments from giant tech companies.

The Nusantara Capital City (IKN) Authority had been hoping for a slice of Danantara’s capital to support the megaproject’s development, its head Basuki Hadimuljono said on Monday.

Luhut Pandjaitan, who heads the National Economic Council (DEN), has long pushed for ending subsidies on Solar and Pertalite, the country’s most popular subsidized fuels.

The benchmarking studies ought to take a team of government officials to Egypt, Turkey and India to learn the design of their legislative and judiciary buildings for Indonesia's planned new capital city.

He wants to tap into the fund's assets -- planned to be more than $900 billion -- to boost Indonesia to developed economy status, despite expert concern about its governance.

Prabowo on Monday inaugurated the new fund, known as Daya Anagata Nusantara or Danantara, which is modeled partly on Singapore's investment arm Temasek.

Bank Indonesia (BI) has kept its key interest rate unchanged and expects just one cut in the US Federal Reserve’s (Fed) benchmark rate this year.

Real Estate Indonesia (REI) central board chairman Joko Suranto says a lack of details on the program run by the Public Housing and Settlements Ministry is causing instability in the country’s property market.   

According to the senior economy minister, the new policy requiring businesses to park 100 percent of their forex earnings domestically for at least one year aims to curb transfer pricing, while the President said it would boost the country’s forex reserves and ensure that its natural resources benefited the people.

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.

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.

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.

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.

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

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.

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.

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.

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.

Deputy Minister Kartika Wirjoatmodjo noted that Danantara’s investment focus would be related to President Prabowo Subianto’s policy priorities, such as food security, housing and energy.

On Monday, President Prabowo expressed frustration over resistance to the budget cuts within “the bureaucracy”.

The Downstream Oil and Gas Regulatory Agency (BPH Migas) is slated to reduce the amount of Solar subsidized diesel fuel motorists can buy per day to ensure its equal distribution.

Coretax would remain operational and taxpayers could still use the prevailing system to file their tax return, tax office says.