TheJakartaPost

Finance Minister flags looming revenue shortfall amid tax slump

In the first half of this year, the government collected Rp 1.2 quadrillion, the lowest mid-year figure in three years and 9 percent below the same period in 2024. ...

4 months ago

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The exterior facade of the building housing sovereign wealth fund, known as Daya Anagata Nusantara or Danantara, in Jakarta on February 24, which was earlier launched by Indonesian President Prabowo Subianto. Indonesian President Prabowo Subianto on February 24 launched a new sovereign wealth fund set to be the biggest in Southeast Asia's largest economy and give the ex-general greater control of the country's coffers. He wants to tap into the fund's assets, planned to be more than $900 billion, to boost Indonesia to a developed economy status, despite expert concern about its governance.

Danantara to receive $10b funding from foreign banks, CEO claims

Danantara CEO Rosan Roeslani noted that the agency had already secured $7 billion in international investment commitments from Qatar, Russia, China and Australia.

4 months ago

Business as usual: Trucks haul freight on Feb. 26, 2025 at the container terminal of Batu Ampar Port on Batam Island, Riau Islands province.

Batam's strategic role in regional industrial development

Batam’s close geographical proximity to Singapore and Johor, Malaysia could lead to lower transportation and logistics costs.

4 months ago

U.S. President Donald Trump speaks before signing a resolution approved by Congress to rescind the EPA's 2023 approval of California's plans to require a rising number of zero-emission heavy-duty trucks, and another resolution on California's low-NOx, or low-nitrogen oxide, regulation for heavy-duty highway and off-road vehicles and engines, at the White House in Washington, D.C., U.S., June 12, 2025.

Regulations

US Senate passes Trump's sweeping tax-and spending bill, setting up House battle

The vote in the House, where Republicans hold a 220-212 majority, is likely to be close.

4 months ago

Indonesian manufacturing slows down as demand fizzles further

Contraction comes from entrenched domestic orders, scaled back hiring of local firms.

4 months ago

A chili seller sorts fresh picks for his display at a stall in Senen Market, Central Jakarta, on
June 10, 2024.

June inflation ticks up as food prices climb

On an annual basis, headline inflation climbed to 1.87 percent, up from 1.6 percent in May.

4 months ago

Cargo trucks park in a line at a container terminal at Tanjung Priok Port in North Jakarta in this undated photograph.

Indonesia posts $4.3b surplus in May on strong exports of CPO, steel

Despite ongoing trade talks in view of Trump's looming tariffs, the United States still contributed the most to Indonesia’s surplus in the January-May period this year, even jumping 31 percent to $7.08 billion compared to last year's figure.

4 months ago

Cool currency: A cryptocurrency mining computer equipped with four cooling fans is seen on display at a computer mall in Hong Kong, China, on Jan. 29, 2018.

Tech

CBEX crypto scam: AI-hyped Ponzi scheme defrauds African investors

CBEX used a "brandjacking" tactic, claimed to be licensed in the US, and said that a firm called ST Technologies International was responsible for the AI trading signals.

4 months ago

Japanese then-Foreign Minister Yoshimasa Hayashi (left) speaks as United States former Secretary of State Antony Blinken looks on during a joint press conference on January 11, 2023, held as part of the 2023 US-Japan Security Consultative Committee meeting at
the State Department in Washington, DC.

Japan says it won't sacrifice farm sector after Trump complains about rice

US President Donald Trump wrote in a social media post that Japan's reluctance to import American-grown rice was a sign that countries have become "spoiled with respect to the United States of America."

4 months ago

Coordinating Economy Minister Airlangga Hartarto delivers a press statement at the State Palace on April 28, 2025, after meeting President Prabowo Subianto to report on the ongoing negotiations with Washington aimed at averting steep United States import tariffs to be imposed on Indonesian-made goods.

RI pushes EV battery, critical mineral projects to woo US in tariff talks

State asset fund Danantara will also be involved in the mineral project being offered.

4 months ago

PT Poso Energy, a Kalla Group renewable energy subsidiary, operates the 515-megawatt Poso hydropower project in Poso, Central Sulawesi.

JETP head flags bottlenecks in green energy procurement

For the transition to succeed, JETP emphasized that PLN must not only accelerate renewable procurement but also prioritize inclusive access and ensure project viability across all regions.

4 months ago

Rolled steel is seen at a Hyundai Steel plant in Dangjin, about 130 km southwest of Seoul, on June 15, 2011.

Regulations

China to keep anti-dumping steel duties on Indonesia, EU and South Korea

The duties on stainless steel billets and hot-rolled plates, first levied by Beijing in 2019, range from 20.2 percent for Indonesian imports to 43 percent for those from the EU.

4 months ago

Platform of the day: A man holds a smartphone displaying the home screen of Chinese social media app TikTok on April 19, 2024, in an office in Paris.

Tech

Trump says 'very wealthy' group to buy TikTok

"We have a buyer for TikTok, by the way," Trump said in an interview on Fox's Sunday Morning Futures with Maria Bartiromo.

4 months ago

Godrej Launches Daycare, Supporting Working Moms with Equity and Peace of Mind

Many working parents in Indonesia, especially mothers still face a dilemma between family responsibilities and their careers. To address this issue, Godrej Consumer Products Indonesia (GCPI) established IPLAY at Godrej, a permanent in -house daycare center designed to support working parents.

4 months ago

Canadian Prime Minister Mark Carney (left) and US President Donald Trump arrive for a family photo during the Group of Seven (G7) Summit at the Kananaskis Country Golf Course in Kananaskis, Alberta, Canada, on June 16, 2025.

Regulations

Canada rescinds tax on US tech firms in hopes of Trump trade deal

The digital services tax, enacted last year, would have seen US service providers such as Alphabet and Amazon on the hook for a multi-billion-dollar payment in Canada by Monday, analysts have said.

4 months ago

Business day: Workers load and unload containers at Ahmad Yani seaport in Ternate, North Maluku, on Oct. 16, 2024.

Indonesia to relax import rules as US tariff deadline nears

Five commodities prioritized for deregulation include forestry products, subsidized fertilizers, raw materials for plastic, other fuel types and food trays used in President Prabowo Subianto’s flagship free nutritious meals program.

4 months ago

President Prabowo Subianto delivers a speech during the groundbreaking ceremony of the integrated EV battery ecosystem project by the Antam-IBC-CBL consortium at Artha Industrial Hill, Karawang, West Java, on June 29.

Companies premium

Prabowo breaks ground on $5.9b EV battery plant in West Java

The plant's first phase is slated to begin operations by late 2026 with an initial production capacity of 6.9 GWh.

4 months ago

A worker milks a cow at the Bintang Tani dairy farm in Bogor regency, West Java, on Sept. 19, 2024.

Govt imports over 1,500 dairy cows to boost milk production

Indonesia’s milk production currently only covers 21 percent of total national demand, leaving a deficit of 4.6 million tonnes per year.

4 months ago

Shafiq Dhanani, President Director and Founder of PT Mitra Bisnis Keluarga Ventura, and Donny Donosepoetro OBE, CEO, Standard Chartered Indonesia.

Standard Chartered supports female economic empowerment with Rp 385 billion loan to MBK

Standard Chartered Indonesia has extended its partnership with PT Mitra Bisnis Keluarga Ventura (MBK) through a new loan facility worth Rp 385 billion, which is set to support approximately 128,000 women across Indonesia.

4 months ago

A tugboat pulls a coal barge through a section of the Batanghari River in Jambi on April 10, 2025.

Markets premium

Indonesian exporters grapple with global shift to higher-grade coal

A global shift in coal markets, along with ongoing geopolitical tensions, have left local miners scrambling to realign their strategy to offset shrinking export opportunities by shifting their focus to domestic sales and making inroads into smelting.

4 months ago

Laborers work in VinFast's factory in Hai Phong City, Vietnam, on April 22, 2021.

VinFast opens second domestic EV factory amid global expansion

The new facility, located in the central province of Ha Tinh, has an initial annual capacity of 200,000 units and spans 36 hectares (90 acres), the company said in a statement.

4 months ago

G7 agrees to exempt US multinationals from global minimum tax

The Group of Seven nations said Saturday they have agreed to exempt US multinational companies from a global minimum tax imposed by other countries -- a win for President Donald Trump's government, which pushed hard for the compromise.

4 months ago

People shop at a grocery store in Brooklyn on May 13, 2025, in New York City, United States.

US inflation edges up as Trump renews criticism of Fed chief

The US Federal Reserve's preferred inflation measure logged a mild uptick Friday while spending weakened, triggering another tirade by President Donald Trump against the central bank chair for not cutting interest rates sooner.

4 months ago

Trucks traveling into Canada are pictured at the Pacific Highway US-Canadian border crossing in Blaine, US, on March 5, 2025.

Trump cuts off US trade talks with Canada, shattering optimism over tariff deals

US President Donald Trump abruptly cut off trade talks with Canada on Friday over its tax targeting US technology firms, saying that it was a "blatant attack" and that he would set a new tariff rate on Canadian goods within the next week.

4 months ago

Workers sort packages for shipping on Aug. 30, 2023, at the warehouse of e-commerce giant Shopee in Cengkareng, West Jakarta.

Tech premium

Govt to require e-commerce platforms to collect tax from sellers

A new regulation is in the works that aims to collect sales tax via e-commerce platforms, coming at a time industry recorded a slowdown in GMV growth from just 3.7 percent in 2023 to 5 percent last year.

4 months ago

Lei Jun, co-founder and CEO of Xiaomi, speaks during the launch of the Xiaomi YU7 SUV car in Beijing on May 22, 2025.

Xiaomi receives almost 300,000 SUV pre-orders in minutes

Lei Jun, founder and CEO of the electronics-turned-car company, said he was astonished by the reaction from customers.

4 months ago

US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, on June 29, 2019.

China confirms trade deal reached with United States

"It is hoped that the United States and China will meet each other halfway," a spokesperson for the commerce ministry said in a statement.

4 months ago

A technician checks a rooftop solar photovoltaic installation at a Pertamina oil and gas refinery in Cilacap, Central Java, in this undated photo.