The government will keep a watchful eye on crude oil prices, which are expected to surge by the end of this year. The Finance Ministry says it is prepared to carry out stress testing if needed to anticipate any impact on the state budget, particularly energy subsidies.

Platforms in China, the world’s largest e-commerce market, have recently described a “value-for-money battle” stoked by economic insecurity and a slower-than-expected retail recovery following the lifting of COVID-19 curbs late last year.

Led by France and Italy, the 27 nations voted for a less ambitious plan than the one put forward by the European Commission in November 2022, eyeing preservation of competitivity in an EU sector on which 14 million workers rely.

The trade minister has said that e-commerce on social media platforms should only be used to promote goods and services, not for actual transactions.

Southeast Asian countries will need to collaborate more closely to build a power grid and other infrastructure to connect renewable energy supplies across the region, but the starting point is transmission grid upgrades, an expert says.

Ministers have repeatedly said that e-commerce sellers using predatory pricing on social media platforms are threatening offline markets in Indonesia, with some officials specifically citing the video platform TikTok as an example.

The trading bloc introduced new rules this year that ban goods from land that has been deforested, throwing its muscle into the fight against climate change and environmental destruction.

The President has called a cabinet meeting to discuss the country's e-commerce sector in general, including TikTok's planned expansion into social commerce.

The complete phasing-out of fossil fuels is not realistic, China's top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security.

While most other major central banks have pressed ahead with interest rate hikes to tame prices, the BoJ has refused to shift from its long-term program of sub-zero borrowing costs in order to kickstart the world's number three economy.

When the EU launched an investigation into Chinese electric car subsidies, Brussels wanted the world to know that it will protect the automotive sector that is the jewel in Europe's industrial crown, even if it upsets Beijing.

Indonesia's energy minister said on Thursday the government had made improvements in its oil and gas terms that would allow contractors to have equity shares of more than 50 percent in some new blocks to attract investment.

The SMEs minister has denied suggestions that the government planned to ban the highly popular social media platform, though he said if there was one, it would be designed to protect local SMEs against unfair competition.

Huawei recently started selling its Mate 60 Pro phone containing a chip that analysts believe was made with a technology breakthrough by Chinese chip foundry Semiconductor Manufacturing International Corp (SMIC).

The government said it intends to carry out oil and gas exploration in the Warim block in Papua as planned, despite some of the land falling within the Lorentz National Park, a protected UNESCO World Heritage site.

The government will permit the use of state funds as a loan guarantee to sustain the Jakarta-Bandung high-speed railway (HSR) project, a decision that has been criticized for putting a heavy burden on the taxpayer.

Indonesia is set to miss its target 7.2 gigawatt (GW) of installed geothermal power capacity because of high development costs and a lack of supporting regulation, according to the Indonesian Geothermal Association (INAGA).

The Nusantara Capital City (IKN) Authority has said that it requires an additional Rp 3.15 trillion (US$ 204.9 million), citing needs to cover higher infrastructure spending in the new capital project.

The government promised to compensate residents of Rempang Island, Riau Islands, to leave their lands, as Jakarta insists on paving the way for a China-backed megaproject in the area.

Coffee firms' lack of preparedness for the law might prompt them to shift sourcing to more developed regions like Brazil that have better traceability, leaving the millions of mostly small scale, poverty stricken farmers in the lurch, the report says.

Indonesia is moving closer to selling electricity to the neighboring city state, but analysts still see challenges related to clearing and manufacturing.

The Business Competition Supervisory Commission (KPPU) has said it will expand its questioning of rice millers in relation to allegations of anticompetitive practices after speaking to a top industry player.

Lawmakers have rejected state-owned electricity firm PLN’s request for Rp 10 trillion (US$651.4 million) in public funds for the improvement of the country’s energy infrastructure, pointing to a lack of clarity on the utility’s priorities and use of funds.

The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a "flood" of cheaper Chinese EV imports.

Environmental groups have submitted a formal complaint to the World Bank for providing financial support for two coal-fired power plants in Indonesia, violating a pledge to stop backing fossil fuels.

Chinese staff from China Railway Group will be responsible for the operation and maintenance of the Jakarta-Bandung high-speed railway in its early years, PT Kereta Cepat Indonesia-China (KCIC), the Sino-Indonesian consortium responsible for the project, has announced.

Indonesia users spent more money on TikTok than anywhere else in Southeast Asia over the past year, as the app's e-commerce arm rapidly grew to gain a substantial regional market share and millions of sellers since its 2021 launch.

Brussels will investigate Chinese state subsidies for electric cars, EU chief Ursula von der Leyen said Wednesday, vowing to defend Europe's industry against "artificially low prices".

The government has proposed state capital injections (PMN) of Rp 24.6 trillion (US$1.59 billion) to continue work on toll road projects handled by debt-laden state-owned enterprises (SOEs).

Rare earths are considered to be lucrative and of strategic value because they are used in the manufacturing of military equipment, lasers, smartphones and magnets found in electric vehicles and wind turbines.