TheJakartaPost

Govt reassures budget cut won’t impact contract workers, scholarships

The government has reassured that the budget cuts will not result in the axing of contract workers or the cancellation of Indonesia Smart Card (KIP) Kuliah program beneficiaries. ...

2 months ago

Markets premium

Indonesian investors flock to gold amid economic uncertainty

Global prices soared to an all-time high this week as many investors turn to the precious metal as a safe haven asset amid geopolitical and global economic uncertainty. ...

2 months ago

The Latest

A screen at the Indonesia Stock Exchange (IDX) in Jakarta shows stock quotes on Jan. 2, 2025. The IDX Composite Index closed 0.38 percent higher at 6,638.45 on Friday

Markets

IDX Composite rises after US tariff delay

The IDX Composite closed 0.38 percent higher on Friday, rebounding after the previous day’s decline.

2 months ago

A worker walks in front of the State Palace at the government office complex in Nusantara, North Penajam Paser, East Kalimantan, on Nov. 10, 2024.

IKN’s budget bumped to Rp 14t despite broader cuts

On Wednesday, House Commission II greenlit an additional Rp 8.1 trillion (US$520 million) for the megaproject, bringing the total 2025 allocation to nearly Rp 14 trillion.

2 months ago

Bags of rice are seen piled up at 'Koike rice shop' in Tokyo on Feb. 14, 2025. The Japanese government said it will release its stockpile of rice -- the nation's cherished staple food -- reserved for emergency use in response to soaring prices.

Economy

Japan to release emergency rice reserves to fight runaway inflation

The Japanese government said Friday it will release a fifth of its emergency rice stockpile after hot weather, poor harvests and panic buying over a "megaquake" warning nearly doubled prices over a year.

2 months ago

Turkey’s Energy Minister Alparslan Bayraktar (left) and Indonesia’s Energy Minister Bahlil Lahadalia (right) sign an agreement on Wednesday to develop the energy and mineral resources sectors, in front of Turkish President Tayyip Erdoğan and Indonesian President Prabowo Subianto at the Presidential Palace in Bogor, West Java.

RI, Turkey ink agreement on hydrogen, nuclear plant development

Indonesia and Turkey inked an agreement to boost renewable energy development during Turkish President Recep Tayyip Erdoğan’s state visit on Wednesday.

2 months ago

An honor guard welcomes President Prabowo Subianto to the Government Palace in Lima on Nov. 14, for a meeting with Peruvian President Dina Boluarte on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit 2024. (Reuters/Agustin Marcarian)

Prabowo to launch Danantara’s $20b venture on Feb. 24

The President has announced that the country's new investment agency Danantara will be launched on Feb. 24 with an initial capital of around $20 billion.

2 months ago

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, US, on April 4, 2024.

Markets

Asian stocks follow Wall St higher on tariff roadmap

Asian stocks tracked Wall Street higher on Friday, while the dollar eased as investors contended with US President Donald Trump's reciprocal tariffs that were not immediately imposed as well as US data allaying investor worries on inflation.

2 months ago

Coal barges transport the commodity on Aug. 16, 2022, near a coal terminal in Samarinda, East Kalimantan.

Businesses should jump to invest in coal, Bahlil says

The energy minister is touting coal as a renewed investment opportunity with solid potential, alleging that Trump's announcement on US withdrawal from the Paris Agreement had triggered a global about-turn in clean energy efforts.

2 months ago

Industry Minister Agus Gumiwang Kartasasmita speaks to reporters on Jan. 7, 2025, at the Industry Ministry building in Jakarta.

Must ‘find ways to reignite interest’ in buying cars, minister says

Last year's decline marked the second consecutive annual drop in car sales since the 2022 peak.

2 months ago

President Prabowo Subianto (center) welcomes a member of his Red and White Cabinet during a special retreat for newly installed ministers and select aides held on Oct. 24-27, 2024, at the Indonesian Military (TNI) Academy in Magelang, Central Java.

Govt expands efficiency policy to include National Police, Defense Ministry

After a bumpy start to implementing the President's instruction to slash budgets across ministeries and agencies, including some "misinterpretation", the government has decided to include 13 out of 16 institutions that were initially exempt from the sweeping efficiency policy.

2 months ago

Buildings that will be used by several coordinating ministries are seen under construction on Aug. 17, 2024, in Nusantara, East Kalimantan, as Indonesia marks its 79th Independence Day.

IKN Authority staff to start working from Nusantara in March

The government planned to have some civil servants start working from the future capital city starting this January, but the Administrative and Bureaucratic Reform Ministry issued a letter in early February to postpone the move indefinitely.

2 months ago

A man walks into the headquarters of the Sony Group Corporation in Tokyo on Feb. 14, 2024.

Companies

Sony hikes profit forecast on strong gaming business

The conglomerate said it now expects a net profit of 1.08 trillion yen (US$7 billion) in the year ending March 31, compared with an earlier projection of 980 billion yen.

2 months ago

A farmhand feeds cattle on June 22, 2023, at a livestock farm in Sidodadi village, Deli Serdang regency, North Sumatra.

Australian businesses to explore free meals cooperation

An Australian business delegation has arrived in Jakarta for talks on how they might contribute to President Prabowo's flagship free meals program, through potential cooperation in technology transfers and supply chain development.

2 months ago

President Prabowo Subianto (left) and Turkey's President Recep Tayyip Erdogan inspect a guard of honor during a welcoming ceremony at the Bogor Palace in West Java, on Feb. 12, 2025.

Prabowo asks Erdogan to lower tariffs on Indonesian exports

Indonesian exports to Turkey surged to $1.94 billion last year, marking a 26 percent increase from the previous year and nearly reaching the five-year peak of $2.05 billion recorded in 2022.

2 months ago

An official of state-owned pawnshop Pegadaian shows a small gold bar minted by state-owned diversified miner PT Aneka Tambang (Antam) in Jakarta on May 20, 2024.

Markets premium

OJK to form gold council to support bullion business

Agusman explained that the council would have a similar function to the World Gold Council in London in facilitating demand for gold.

2 months ago

Cargo trucks are pictured at a container terminal of Tanjung Priok Port in North Jakarta in this undated photograph.

Amid global trade upheaval, Jakarta sticks to China+1 strategy

The government continues to pitch Indonesia as an alternative manufacturing location while China is under pressure from US sanctions, but experts have doubt that strategy still works.

2 months ago

Companies

GoFood’s food trend: Unveiling flavors that took the stage in 2024

Serving an essential guide for foodies to discover new dishes and merchants to stay ahead of the game

2 months ago

Aerial view of Sanur Special Economic Zone (SEZ), Bali, in an undated photo.

Challenges of healthcare tourism special economic zone

As an illustration, Indonesia loses some US$11.5 billion annually as over 1 million citizens seek treatment overseas.

2 months ago

Economy

How ASEAN is moving up the value chain

ASEAN member states are expected to witness robust economic growth and development in the coming years, buoyed by shifting global supply chains and rising affluence.

2 months ago

The Pertamina Hulu Energi (PHE) Offshore North West Java (ONWJ) oil and gas rig is pictured in waters off Indramayu, West Java, on April 2, 2023.

Pertamina mulls offer of oil and gas block in Suriname

Pertamina Hulu Energi (PHE), the upstream unit of state-owned oil and gas giant Pertamina, is mulling over a plan to operate an oil and gas block in Suriname, a country located on the northern coast of South America.

2 months ago

Tech premium

Investment minister claims more Apple suppliers to build facilities in RI

This came after Rosan said on Jan. 21 that he believed the tech giant was close to striking a deal over an investment package that would lift sales restrictions on the iPhone 16 in a matter of weeks.

2 months ago

Deputy State-Owned Enterprises Minister Kartika "Tiko" Wirjoatmodjo speaks during an event in Jakarta on May 9, 2022.

Danantara set for launch in March, ministry says

Deputy Minister Kartika Wirjoatmodjo noted that Danantara’s investment focus would be related to President Prabowo Subianto’s policy priorities, such as food security, housing and energy.

2 months ago

Touting economic growth: Indonesia's Finance Minister Sri Mulyani Indrawati delivers her speech during the Mandiri Investment Forum in Jakarta, on Feb. 11, 2025.

RI’s inflation ‘source of envy’ for ASEAN, G20 countries, says Sri Mulyani

Sri Mulyani said that Indonesia’s inflation rate was at a “very low level” and was “a source of envy” for ASEAN and G20 countries.

2 months ago

BI watching Trump impact to assess monetary policy options

Bank Indonesia (BI) is watching economic policy changes in the United States that may affect Indonesia and will determine on that basis whether a shift in its monetary policy stance is needed.

2 months ago

President Prabowo Subianto greets Red and White Cabinet members ahead of a plenary cabinet meeting at the Presidential Office in Jakarta on Jan. 22, 2025.

House halts meetings on budget cuts for 'reconstruction'

On Monday, President Prabowo expressed frustration over resistance to the budget cuts within “the bureaucracy”.

2 months ago

Nation's oldest network: A TVRI studio films an afternoon news program in this undated photo.

State-run radio, TV cut contract workers, contributors amid budget cuts

Both institutions assured the cut will not affect their employees that are classified as state servants.

2 months ago

An attendant fills up a motorcycle at a gas station owned by state-owned oil and gas company Pertamina in Jakarta.