The company is expected to continue operating its other business unit in Semarang, Central Java.

The finance minister is taking the precaution to verify local administrations' claims about a funding squeeze as regional transfers fell 11.2 percent yoy to Rp 357.4 trillion (US$20 billion) as of end June.

Enthusiasm for tech shares boosted Asian stocks for a second day Wednesday, as more mayhem in the Middle East lifted Brent crude back above US$92 a barrel and the yen came under renewed pressure.

OpenAI said on Tuesday that an autonomous agent powered by its advanced AI models went rogue during a security test and triggered a hack that compromised the infrastructure of AI start-up Hugging Face last week.

Coal dependency, lack of basic infrastructure and a funding shortfall are just a few of the hurdles standing in the way of Indonesia's solar expansion goals.

Analysts say that Indonesia International Financial Center (PFII) law's fast-tracked deliberation without much public discussion could jeopardize the goal of attracting global funds as investors require legal certainty and clear regulations.

The Communications and Digital Ministry has uncovered fraudulent practices by some SIM card retailers aimed at bypassing the procedure.

As government bond yields crept up to multi-decade highs since June, the administration was forced to tweak the blueprint's language on monetary policy several times.

In a plenary cabinet meeting at the State Palace on Monday, the President hailed Danantara’s progress in reducing the number of state-owned firms over the past 18 months.

Finance Minister Purbaya Yudhi Sadewa said the financial center, known as PFII, is expected to draw foreign investment and help accelerate the country's growth.

The comfortable lead Indonesia has enjoyed against its regional peers in attracting foreign investment is beginning to narrow as the competitive map shifts to quality.

The reprieve ​comes at a fragile moment for Southeast Asia's biggest economy as the still-looming threat of a downgrade from index provider MSCI has made Jakarta stocks, ‌Asia's worst-performing major stock market this year, down 28 percent.

A procurement of fans for tens of thousands of cooperatives under the government’s Red and White Cooperatives (KDMP) program would amount to roughly Rp 2.56 trillion, significantly more than the Rp 1.8 trillion figure that sparked uproar last week.

Beyond producing sugar for domestic consumption, the government wants to turn sugarcane waste into ethanol to fuel its biofuel ambitions.  

Presidential special advisor for labor and workers' welfare Said Iqbal said he believes the actual number of workers affected by layoffs is higher than the official figures reported by the Manpower Ministry.

Indonesia has for a long time sought to develop ​its financial sector and hopes to provide wealth management services to rival ​neighboring Singapore, where many rich Indonesian families choose to invest.

Brent crude hit on Monday its highest price since June due to renewed fighting between the United States and Iran, while Asian equities were mixed as investors weighed the fallout of a prolonged Middle East war.

Experts noted that the risk of banks getting too reliant on the funds “is real” and a dependency cycle might materialize as banks grow accustomed to the idea that the funds are a “permanent source of liquidity”.

The Abadi Masela project, a long-delayed liquefied natural gas (LNG) megaproject, finally broke ground on Thursday, marking a critical milestone for a development that promises to reshape Indonesia’s energy landscape.

The decision comes as several major tourist destinations have raised visa fees this year, including Japan, which introduced its first visa fee increase in nearly 50 years.

Chinese AI startup DeepSeek is planning to launch a fresh fundraising round at a valuation of about 500 billion yuan (US$74 billion) ahead of a potential mainland initial public offering, two people with knowledge of the matter said.

Plane manufacturers must build nearly 44,000 new planes over the next two decades to meet new growth and replace older planes, according to Boeing's new annual forecast.

The government's proposal to reclassify ride-hailing drivers as microbusiness owners has drawn mixed reactions, with labor unions pushing for employee status, some drivers preferring to remain partners with stronger legal protections and platform operators backing the government’s initiative.  

The government has imported around 770,000 barrels of Russian crude oil, according to a Bloomberg report, though the energy ministry says further verification is necessary to determine the composition and source of the fuel that makes up the so-called Indonesia blend.

Since the program’s launch in July last year, President Prabowo Subianto’s administration has added multiple tasks and broadened the cooperatives’ scope of work from grocery stores to managing community oil wells.

Artificial intelligence should not be dominated by a single country, China's President Xi Jinping said Friday, urging international cooperation on its development at a major conference in Shanghai.

The Financial Services Authority (OJK) has proposed implementing universal banking in the planned Indonesia International Financial Center (PFII) to streamline business licensing and boost the country’s investment appeal.