The bank hiked the rate to 15 percent from 8.5 percent in its first meeting since Erdogan filled his government with investor-friendly faces after winning tight May polls.

The central bank says it has considered the possibility of the United States Federal Reserve, raising its key interest rate to 5.5 percent in July.

The Bank of England raised interest rates by a bigger-than-expected half a percentage point on Thursday after it said there had been "significant" news suggesting British inflation would take longer to fall.

International Monetary Fund (IMF) and World Bank officials are joining dozens of economic leaders for a two-day summit in Paris, aiming to tackle the interlinked challenges of poverty alleviation and climate change.

The tourism minister claims that Indonesian tourism will not suffer from the end of the visa-free facility for 159 countries because of the government’s paradigm shift to “quality tourism”, but an industry scholar disagrees.

The government says it is ready to fight back should any countries pursue legal action against its bauxite export ban enforced earlier this month.

Coordinating Economic Minister Airlangga Hartarto is confident the program to support jobseekers will remain in place and be developed further despite the presidential handover next year.

World leaders will gather in Paris this week with ambitions to reimagine global financing for a new era shaped by climate change, as a cascade of crises swamps debt-burdened countries. 

Bottle deposit schemes are used in numerous countries to make recycling more cost efficient. Some experts say they could boost waste collection in Indonesia, too, but others prefer to build on existing waste management concepts.

During an event in Jakarta, the CEO of the highly popular short video platform has vowed to uphold freedom of expression by refraining from accepting political advertisements.

Businesses urged the government to make sure negotiations on the European Union deforestation law would not result in more delays in the EU-Indonesia trade agreement.

The Bank of Japan said Friday it would maintain its long-standing, ultra-loose monetary policy as it looks to boost economic growth.

InJourney's president director said that the WorldSBK event at the Mandalika circuit could not attract enough attendees or sponsors.

The lack of interest in the electric motorbike subsidy stems from both people’s reliance on fossil-fueled engines and their unfamiliarity with battery-powered engines, according to Industry Minister Agus Gumiwang Kartasasmita.

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan has said Qatar is interested in making an investment in the Nusantara Capital City (IKN) project, adding to the list of potential countries that the government has approached to reel in funds needed to develop the project.

A bipartisan group of US lawmakers planned to introduce a bill on Wednesday to eliminate a tariff exemption widely used by e-commerce sellers to send orders from China to US shoppers, one of the sponsors said.

While the government's export ban aims to spur smelter investments, industry representatives warn it could cause hundreds of layoffs in the bauxite sector.

It appears that China will be running the Jakarta-Bandung high-speed railway in its first year of commercial operations before gradually transitioning to all-Indonesian staff, though experts caution against rushing to launch the service.  

European Union countries will try again next week to pass a deal on new renewable energy targets, which have been stalled by concerns from France and other states that the law sidelines nuclear energy.

Despite the construction of numerous nickel smelters in Indonesia over the past years, the country lacks facilities to produce electric vehicle (EV) batteries, an Industry Ministry official has explained.

A business group believes the rationale for allowing Freeport Indonesia and Amman Mineral to continue copper exports could also apply to bauxite miners.

European Union Ambassador to Indonesia Vincent Piket insisted that Europe “wishes to maintain the palm oil trade” and was keen to help Indonesia and Malaysia acclimate to the new regulation. 

The government’s focus on downstream metal industries has "little effect" on overall economic growth, according to Institute for Development of Economics and Finance (INDEF) senior economist Faisal Basri.

Indonesia will continue negotiations for a comprehensive economic partnership agreement (CEPA) with the bloc, alongside separate consultations to resolve disputes on the EU's deforestation rules, Airlangga Hartarto, Coordinating Minister for Economic Affairs told Reuters.

The European Parliament adopted the new legislation in April that will ban imports deemed to be driving deforestation, throwing the bloc's trade muscle behind a global fight against climate change.

In the wake of a string of widely reported security breaches, analysts have criticized the government for what they see as weak enforcement of laws and regulations to protect personal data.

The government will inject US$1.34 billion of state capital injection to state-owned construction Hutama Karya (HK) and Wijaya Karya. It also plans to transfer ownership of Waskita Karya to HK.

Indonesia and Malaysia joined hands to meet with EU representatives in Brussels on May 30 and 31. hoping to soften the bloc's regulations on palm oil in the upcoming deforestation law.

US regulators are preparing to tighten rules for large banks, which could raise their capital requirements by 20 percent on average, the Wall Street Journal (WSJ) reported on Monday, to boost the financial system's resilience after a spate of midsize bank failures this year.

The government will support "sick" SOEs, especially those handling key infrastructure projects, analysts expect, but the aid may not come in a timely manner.