Sanctions experts have long said, however, that the independent refineries are somewhat immune to the full effect of US sanctions as they have little exposure to the US financial system.

The latest ministerial regulation appears to be the final blow to the remaining support for the EV industry, which had been showing signs of taking off in Indonesia. 

Foreign direct investment (FDI) reached Rp 250 trillion in Q1 2026, rising 8.5 percent year-on-year, although it slightly declined compared with Rp 256 trillion in the previous quarter.

Badan Pengusahaan Batam (BP Batam) has reported an investment realization of Rp 17.4 trillion in the first quarter of 2026, marking a 102.85 percent increase year-on-year (YoY) and 68.92 percent growth quarter-on-quarter. The performance signals a strong start to the year and reinforces Batam’s position as one of Indonesia’s most dynamic investment centers.

The deal was forged during President Prabowo Subianto’s three-hour meeting with Russian President Vladimir Putin on April 13.

To capitalize on the potential shift, the government plans to accelerate the development of land connectivity to stimulate tourism flows.

The finance minister expects Chinese stakeholders "to be satisfied" with the government's latest debt restructuring plan for the Whoosh high-speed rail project, with the new setup aiming to address persistent cost overruns, delays and interagency incoordination through a more proportionate risk-sharing approach.

Prabowo met Russian President Vladimir Putin at the Kremlin last week, where they discussed strengthening strategic partnerships, including in the energy sector, cabinet secretary Teddy Indra Wijaya said in a statement.

The credit rating agency noted that there was a risk the government might substantially relax its fiscal and monetary policies to achieve President Prabowo Subianto's ambitious ​8 percent growth target.

Meta is locked in a bitter rivalry with other tech behemoths racing to invest heavily in AI, aiming to ensure the technology generates profits in the not-so-distant future.

Efforts to frame an interim trade pact, including a proposal to lower US tariffs on Indian goods to about 18 percent, have been clouded by uncertainty following a US Supreme Court ruling although negotiations are continuing.

The rupiah was the worst-performing currency in the region, depreciating 0.61 percent by market close, followed by the Philippine peso and the Thai baht, which weakened by 0.6 percent and 0.55 percent, respectively.

The Foreign Ministry has issued a counterstatement emphasizing Indonesia's adherence to international law in all maritime policies after the finance minister's backtracked suggestion referring to Iran's transit levy in the Strait of Hormuz.

Russia's invasion of Ukraine has rattled NATO and led Berlin to pour huge amounts into rebuilding its armed forces, sparking a business bonanza for weapons makers and manufacturers of dual-use goods.

While airfreight volumes are expected to grow at a high single‑digit rate in the quarter, sea freight volumes are forecast to rise only at a low single‑digit pace year on year.

The total additional capacity from the new facilities is expected to reach around 900,000 tonnes, although individual warehouse sizes will vary.

Credit growth rebounded to 9.49 percent year-on-year (yoy) last month from the 9.37 percent logged in February. The latest figure, however, is still lower than the 9.96 percent yoy growth recorded in January.   

Iran on Wednesday captured two container ships seeking to exit the Gulf via the Strait of Hormuz, tightening its grip on the crucial waterway, as investors watch if the fragile ceasefire in the Middle East will hold.

India, the world's biggest urea importer, issued the tender earlier this month to secure 2.5 million tons of the fertilizer, or nearly a quarter of its annual imports of about 10 million tons in 2025.

The central bank has decided to keep the BI-Rate unchanged at 4.75 percent to prevent the rupiah from spiraling ever downward amid the nearly two-month war in Iran as the currency hit a record low of Rp 17,193 per greenback on Wednesday, while experts pointed to a narrowing room for monetary policy in its aim to secure financial stability.

Beyond conventional materials, the government is encouraging the development of bioplastics derived from natural resources such as cassava and seaweed. 

Australia's Lynas facility in Gebeng, Malaysia is now the world's largest single rare earths processing plant.

Last year, the government also began issuing renminbi-denominated debt through so-called dim sum bonds, which are similar to panda bonds but are marketed mainly in Hong Kong.

With the two-week truce in its final hours, the US president said he would push the deadline back indefinitely following a request from mediator Pakistan and stressing the need to give Tehran's "fractured" leadership time to form a proposal.

Reliance on foreign workers familiar with proprietary technologies, as well as slow and rigid licensing processes in Indonesia, has created incentives for foreign companies to bypass formal visa channels.

The uncertainty weighed on investor sentiment, with the Indonesia Stock Exchange (IDX) Composite Index slipping 0.46 percent on Tuesday, even as major Asian markets advanced on optimism that the Iran conflict may be nearing an end.

State-owned energy firm Pertamina previously increased prices for three non-subsidized products, Pertamax Turbo, Dexlite and Pertamina Dex, by between 48 and 66 percent.