The government has announced that Indonesia will soon begin importing crude oil from Russia as part of a broader strategy to diversify energy supplies.

Finance Minister Purbaya Yudhi Sadewa said that S&P would come to Indonesia in June to reassess the country’s economy and budget “thoroughly”.

The government projects excess domestic supply of around 1.5 million tonnes in 2026, which could be allocated for exports.

The oil and gas shortage caused by the United States-Israeli war on Iran should drive demand for renewables, but Indonesia’s inadequate grid infrastructure means a long waiting list remains for rooftop solar installation.  

The International Monetary Fund and foreign investors see Indonesia as one of the world’s “bright spots” with strong economic fundamentals and resilience, despite the country’s vulnerability to global economic turmoil, according to Bank Indonesia.  

The tourism industry is beginning to feel the impacts of the Iran war, prompting the government to shift its strategy toward boosting regional and domestic travel.

China's economic growth topped expectations in the first quarter of the year, official data showed Thursday, even as the global economy reels from the fallout of war in the Middle East.

Foreign investors are selling Thai assets as an energy shock from the US-Israeli war on Iran threatens to snuff out hopes for an economic revival under Prime Minister Anutin Charnvirakul and exposes the policy paralysis that is gripping Bangkok.

Tourism Minister Widiyanti Putri Wardhana sat down with The Jakarta Post’s Ni Made Tasyarani and Chloe Djalal to explain how the ministry aims to meet its targets in the tourism industry, including tourist arrivals.

Indonesia’s state-owned oil and gas company has confirmed that its refineries are capable of processing Russian crude, as the government eyes direct imports.

The city could target high-value spenders who might attend a morning conference in Sudirman but demand a world-class culinary adventure in South Jakarta at night.

The Finance Minister said in March that the waning international perception of the country might be his fault on account of global investors not knowing who he is.

US Treasury Secretary Scott Bessent said on Tuesday China had been an unreliable global partner during the Middle East war by hoarding oil supplies and limiting exports of some goods, mirroring its actions with medical goods during the COVID-19 pandemic.

Investment realization is estimated at around Rp 497 trillion ($29 billion) in the first quarter of 2026, up about 7 percent year-on-year.

Due to the reemergence of oil prices as a key determinant amid the Iran war, monetary authorities facing renewed inflation risks are becoming less likely to cut interest rates, keeping global borrowing costs elevated and tightening financial conditions across both advanced and emerging economies.

Retail sales have grown thanks to the consumption boost from the Idul Fitri holiday period, but consumers are feeling less optimistic about the coming months as they anticipate the economic fallout of the Iran war.

Following the legislature's earlier passage of a law authorizing him to adjust fuel excise taxes, Marcos said the cost of liquefied petroleum gas, the country's fuel of choice for cooking, would be trimmed by 3.36 pesos (5.6 US cents) per kilogram from Tuesday.

On average, across the archipelago, the number of tourists staying at hotels only peaked during March 22-23, before dropping sharply by 62-65 percent on the following day, according to PHRI.  

Carmakers warned that prolonged disruptions could affect deliveries to dealers and customers.

Though the World Bank has downgraded its growth projection for Indonesia due to the economic fallout from the Iran war, a move preceded by a similar revision by the OECD last month, the government insists on the achievability of the state budget target.

The war in the Middle East will have a cascading impact on the global economy, even if a ceasefire announced by US President Donald Trump takes hold, World Bank President Ajay Banga told Reuters in an interview on Friday.

The global growth could be lowered by 0.3 to 0.4 percentage point in a baseline scenario, with an early end to the war, and by as much as 1 percentage point if it endures, according to World Bank's projection.

The Middle East war is expected to drag on Asia's economies over this year and next, the Asian Development Bank warned Friday, as it predicted growth to slow to 5.1 percent across the world’s most populous region.

According to PLN, the blackout, which began at approximately 5:57 p.m., originated from a disturbance at a main substation, affecting distribution networks across multiple districts. 

US President Donald Trump said on Thursday Iran should not charge fees to tankers going through the Strait of Hormuz, which has been blockaded since the start of the Iran war, causing the worst disruption to global energy supplies in history.

Pertamina is racing to secure the release of two of its tankers stuck in the Persian Gulf through diplomatic channels, as analysts warn that the recent US-Iran ceasefire does little to guarantee safe passage through the politically charged Strait of Hormuz.

The facility is designed as an integrated melamine production chain with an annual capacity of up to 120,000 tonnes and is targeted to commence operations in the second quarter of 2027.