OPEC+ will likely agree on Sunday to prolong its deep oil output cuts into 2024 and possibly 2025, two OPEC+ sources said as the group seeks to shore up the market amid tepid global demand growth, high interest rates and rising rival US production.

The state-owned electricity utility expects the government to spend around Rp 83 trillion (US$5.11 billion) in 2025 to keep electricity cheap for consumers, marking a 9.56 percent increase from this year's projected amount.

India posted world-beating growth of 8.2 percent in the year to March on Friday, in a last-minute boost to Prime Minister Narendra Modi's economic credentials the day before national elections conclude.

Euro zone inflation rose in May, data showed on Friday, in a sign the European Central Bank still faces a slow and uncertain journey to rein in prices.

The EU faces a delicate balancing act as it prepares to rev up taxes on Chinese electric cars to protect European industry, while steering clear of a US-style showdown with Beijing that could spark a trade war.

The region's existing plans project a doubling of gas-fired power capacity, and an 80 percent increase in LNG import capacity, said Global Energy Monitor (GEM), a US-based NGO.

The billionaire was down to two major wealth managers -- UBS and JPMorgan Chase -- after Credit Suisse’s demise last year. He wanted a third bank but did not want to increase exposure to the Americans. 

China's economy is set to grow 5 percent this year, after a "strong" first quarter, the International Monetary Fund said on Wednesday, upgrading its earlier forecast of 4.6 percent expansion, though it expects slower growth in the years ahead.

The Jakarta Post’s Ruth Dea Juwita sat down with EU-ASEAN Business Council executive director Chris Humphrey during his visit to Jakarta on May 15 to talk about progress on trade negotiations and about business strategies for navigating Indonesian rules on local content and imports as well as the EU’s regulation on deforestation (EUDR).

Playing a crucial role in driving economic transformation toward the realization of Indonesia's Vision 2045, the government's efforts to strengthen international cooperation through its intention to join the Organisation for Economic Co-operation and Development (OECD) are increasingly showing certainty, with various stages progressing optimally.

After attending the Nikkei Forum in Tokyo for two days, Coordinating Economic Minister Airlangga Hartarto took advantage of the recent long weekend to visit the integrated industrial facilities of CNGR based in Qinzhou, southern China, which is the closest part of China to Southeast Asia, approximately 90 kilometers from Nanning. During this visit, Minister Airlangga was received directly by Deng Wei Ming, chairman of CNGR.

China sees more need to achieve self-sufficiency in semiconductors after the US imposed a series of export control measures over the last couple of years.

Continuing the series of events at the Nikkei Forum 2024 in Tokyo, Coordinating Minister Airlangga Hartarto, representing President Joko Widodo, spoke before global leaders, economic experts, and academics from the Asia-Pacific region. During the event themed "Future of Asia," Minister Airlangga detailed Indonesia's efforts in maintaining economic resilience amid global uncertainties and highlighted various investment opportunities in Indonesia.

The blend has been known to cause rapid engine heating, increased corrosion and accelerated wear. 

The global economic conditions, still marked by various challenges, have led several international institutions to project global economic growth in 2024 of around 3 percent year-on-year (yoy). Nevertheless, Indonesia's economic fundamentals continue to show stability, strengthening and stabilizing the country's resilience to global shocks. Indonesia's economic growth in the first quarter of 2024 was recorded at 5.11 percent yoy, with the inflation rate in April 2024 maintained within the target range of 2.5 + 1 percent, at 3 percent yoy.

From May 20 to 22, Coordinating Minister of Economic Affairs Airlangga Hartarto made a working visit to the Republic of Korea to further enhance bilateral relations and economic cooperation between the two countries.

The government says Indonesia may benefit from Washington’s newly introduced tariffs on Chinese goods, but businesses beg to differ, warning that Indonesian export goods were not ready to meet US demand.

Indonesia jumped 14 spots to 22nd place globally, making it the most improved country in a list of destinations according to the World Economic Forum’s latest Travel and Tourism Development Index (TTDI) released on Tuesday.

South Korea ranked seventh in terms of foreign direct investment (FDI) in Indonesia, with investment recorded at US$2.5 billion in 2023, an increase of more than $200 million (8.7 percent), compared with 2022.

According to the central bank, the interest rate hike in April helped the rupiah strengthen by 1.66 percent between the end of April and May 21.

Bilateral cooperation between Indonesia and South Korea has been established for over 50 years. The close relationship between the two countries continues to be promoted, especially in the sectors of economy, trade and investment.

Indonesia and South Korea have maintained bilateral ties for more than 50 years, with relentless efforts conducted to spur close bilateral relationship, especially in economics, trade and investment.

Indonesia and the Republic of Korea have seen a significant strengthening of their economic cooperation post-pandemic, with bilateral trade reaching US$20.8 billion in 2023. Korea's foreign direct investment (FDI) in Indonesia, totaled approximately $2.5 billion in 2023, up by over $200 million from the previous year, marking Korea as the seventh-largest investor in Indonesia. Among the major investments realized is the construction of a downstream petrochemical plant by Lotte Chemical, a leading Korean chemical company established in 1976 and ranked among the world's top seven with a stable profit structure. The realization of PT Lotte Chemical Indonesia’s investment is the downstream petrochemical complex, the LOTTE Chemical Indonesia New Ethylene Project (LINE Project), a naphtha cracker worth tens of trillions of rupiah located in Cilegon, Banten.

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan said the government was pushing for Bali to welcome privately held companies handling family-controlled business operations, pitching the island as an alternative base to Hong Kong and Singapore.

China's commerce ministry on Sunday launched an anti-dumping probe into POM copolymers, a type of engineering plastic, imported from the European Union, United States, Japan and Taiwan.

China on Friday announced some of its most sweeping measures yet to stabilise the crisis-hit property sector, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging further efforts to deliver unfinished homes.

Fitch Ratings forecasts debt financing expansion to fund Prabowo’s big-ticket plans, which would bring Indonesia’s budget deficit close to the legal limit but could also spur growth through increased economic activity.

The state budget next year has been in the spotlight after Prabowo, who is currently the defense minister, announced that he would push forward with his free lunch program for Indonesian schoolchildren, which is estimated to cost Rp 1 trillion per day. 

Outgoing shipments of goods dropped in April partly because of fewer working days that month and partly because of lower prices for some export commodities.

A US move to raise tariffs on Chinese goods is a sign of weakness, not of strength, and shows that some in the United States may be "losing their minds", China's foreign minister said on Wednesday, in unusually blunt comments.