TheJakartaPost

Govt, Qatar's Qilaa group ink deal to build 1 million homes

Indonesia, through the public housing ministry, has inked an MoU with a Qatari investment firm for an undisclosed amount to help fund the government's mega housing project, which aims to build 3 million homes per year. ...

4 months ago

Companies

Unilever's Indonesia headache worsens with boycott as local brands seize the day

Unilever, like other big consumer goods companies, has been under fire in many Muslim-majority countries for what some shoppers see as tacit support of Israel's military offensive in Gaza through business activity. ...

4 months ago

The Latest

A man unloads palm oil seeds from a pickup truck on July 10, 2024, after bringing them from a plantation to sell at a market in Sepaku, East Kalimantan.

Kadin calls for incentive to boost biodiesel output amid higher rollout

Incentives are critical to encouraging producers to ramp up production and investing in a more efficient processing technology, the Indonesian Chamber of Commerce and Industry (Kadin) said.

4 months ago

Industry Minister Agus Gumiwang Kartasasmita (second left) addresses media at the Industry Ministry office in Jakarta on Jan. 8 following a meeting with Apple Inc. executives. He was joined by the ministry’s director general for metals, machinery, transportation equipment and electronics Setia Diarta (left), Golkar Party lawmaker ilham Permana from House of Representatives Commission VII overseeing industry, MSMEs, creative economy, tourism and publication facilities, as well as the ministry’s special staff member Wandi Wanandi.

Companies premium

Govt demands Apple R&D to end iPhone sales ban, but takes $1b investment

The government has welcomed Apple Inc.’s US$1 billion commitment to build a manufacturing facility in Batam Island, but the ban on local sales of the iPhone 16 remains in place as it still fails to meet the country’s local content rules.

4 months ago

The Bukalapak e-commerce platform's application is seen on an iPhone.

Tech premium

Bukalapak to cease sales of physical products on marketplace

Virtual products will remain available to buyers, such as electricity bills, taxes and digital gold vouchers, while physical products like home accessories, fashion and electronics are only available until Feb. 9.

4 months ago

Companies

Steel setback: Biden risks Japan ties, investment

Nippon Steel touted the $14.9 billion deal as a lifeline for its rusting US rival, but opponents warned that the Japanese firm would slash jobs -- despite assurances to the contrary.

4 months ago

Semiconductor products are displayed during the SEMICON China semiconductor exhibition in Shanghai, China, on March 22, 2024.

Tech

South Korea’s chip exports to China slow amid surge in Taiwan shipments

China and Hong Kong combined accounted for 61.6 percent of Korean semiconductor exports in 2020, but by the end of 2024, that figure had dropped to 51.7 percent, according to data from the Korea International Trade Association.

4 months ago

In demand: A farmer and his son harvest salt in the Talise area, Palu, Central Sulawesi, on March 17, 2024.

Businesses warn salt import ban will disrupt output, prompt relocation

A ban on imports of industrial salt would hamper domestic production, while a prolonged disruption may prompt businesses to relocate their operations abroad.

4 months ago

Engineers work on oil and gas infrastructure to strengthen national energy security.

Businesses raise concerns over delayed affordable industrial gas extension

Without the cap, seven industries would need to pay for gas at a much higher market rate.

4 months ago

High-rise buildings tower over the Sudirman Central Business District in South Jakarta on Dec. 12, 2023.

Companies premium

2025 banking outlook: Navigating familiar uncertainties

Indonesian banks can expect to face challenges in 2025 similar to what they experienced last year, but these also present opportunities for innovative, proactive measusres to strengthen their position in the global financial ecosystem.

4 months ago

The empty trading floor of the Indonesia Stock Exchange (IDX) appears in this undated file photo.

IPOs set to rebound in 2025 after multiyear low in 2024

Analysts expect the market to rebound this year after last year's lackluster performance, primarily due to the uncertainty surrounding the elections in February and November, though whether it will rally gradually or quickly to surpass 2023 levels remains to be seen.

4 months ago

Markets

IDX Composite gains 0.04% with positive foreign market sentiment

The IDX Composite closed slightly higher on Tuesday, up by 0.04 percent. It iswassupported by positive foreign investor sentiment despite mixed sector performances.

4 months ago

Eko feeds grass to his cattle. JP/Maksum Nur Fauzan

Govt opens door to live cattle imports from Brazil

Brazil has declared itself free of FMD without vaccination since May 2024 and is waiting for formal recognition from the World Organization for Animal Health (WOAH).

4 months ago

International passengers walk through the health examination area at I Gusti Ngurah Rai International Airport on Sept. 5, 2024, in Badung, Bali. The airport's health quarantine center is intensifying health surveillance amid the HMPV outbreak.

Bali closely monitors flights from China, Malaysia amid HMPV outbreak

More than 1.18 million Chinese tourists came to Bali in 2019, second only to Australia at 1.2 million, according to Statistics Indonesia (BPS).

4 months ago

This photograph taken on Jan. 22, 2021 shows a worker pulling a cable along a floating solar power farm at sea off Singapore's northern coast just across from the Malaysian state of Johor. With huge data centers set to drive up already outsized energy demands, the tiny city-state of Singapore is looking to Australia's deserts and Malaysia's rainforests for clean power.

Economy

Malaysia, Singapore announce deal on Johor economic zone

They are targeting 50 projects at the economic zone within the first five years of its inception, and the creation of 20,000 skilled jobs.

4 months ago

Ready to fly: President Prabowo Subianto bids farewell before entering the Boeing 733-700 presidential aircraft at Halim Perdanakusuma Air Force Base in East Jakarta, on Feb. 17, 2024.

Govt saves Rp 3.6T by cutting down official trips and meetings

Prabowo instructed his freshly inducted ministers to study the budget allocation in detail and specifically asked for spending efficiency by avoiding unnecessary trips abroad.

4 months ago

Golden grains: A worker sifts wheat before filling sacks at the market yard of the Agriculture Product Marketing Committee (APMC) on the outskirts of Ahmedabad, India, on May 16, 2022.

Govt mulls importing wheat as animal feed if corn in short supply

However, procurement of wheat would only be necessary when the country was in short supply of domestic corn.

4 months ago

Trade Minister Budi Santoso attends a food coordination meeting on Dec. 28, 2024, in Lampung.

Indonesia to seal free trade pact with Peru, Eurasia in Q1 2025

Trade Minister Budi Santoso also reaffirmed that the ministry aims to conclude a similar agreement with the European Union by the end of first half of this year.

4 months ago

Finance Minister Sri Mulyani Indrawati stands before the press for a photoshoot prior to a press conference in her office building in Jakarta on Mar. 25, 2024.

2024 budget deficit smaller than anticipated

Last year’s budget closed with a deficit of Rp 507.8 trillion (US$31.34 billion), 2.29 percent of the country’s gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati revealed in a press conference on Monday.

4 months ago

Markets

IDX Composite slides 1.17% as market awaits global cues

The IDX Composite closed lower on Monday amid cautious market sentiment caused by the upcoming United States Federal Reserve’s policy decisions and Donald Trump’s inauguration.

4 months ago

Vietnam's Luong Cuong takes his oath as Vietnam's President during the autumn opening session at the National Assembly in Hanoi on October 21, 2024.

Economy

Vietnam economy expands by 7% in 2024, beating expectations

The global manufacturing hub reaped the benefits of an uptick in demand for its products, despite suffering billions of dollars in losses due to deadly Typhoon Yagi.

4 months ago

Financial briefing: Bank Indonesia Governor Perry Warjiyo (second left), accompanied by senior deputy governor Destry Damayanti (second right) and deputy governors Doni Primanto Joewono (left) and Juda Agung (right), prepares ahead of a press briefing in Jakarta on June 20, 2024 on the result of the bank's board of governors meeting.

Foreign investors favor BI securities over stocks, government bonds

According to the World Bank, the introduction of the SRBI has had unintended consequences of crowding out government borrowing, as commercial banks have reduced their holdings of government securities and turned toward BI’s new securities.

4 months ago

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

Indonesia approves first bullion bank

Those services will include gold deposits, gold working capital loans, corporate gold deposit services and gold trading.

4 months ago

Economy

Asian Agri disburses premium payments for smallholders in Jambi, Riau

Leading palm oil producer Asian Agri has expressed its appreciation for its smallholder scheme partners in Jambi and across Riau province by distributing premium payments from the sale of certified sustainable palm oil for 2023.

4 months ago

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

Prabowo’s plan to boost oil and gas production faces major hurdles

Prabowo aims to limit Indonesia’s dependence on imported fuel by offering dozens of new oil and gas blocks to investors in the coming years.

4 months ago

A shack stands next to a forest in Lhoong, Aceh on March 21, 2023.

Govt to convert 20 million ha of forest for food, energy self-sufficiency program

The government plans to plant rice side by side with sugar palms, energy crops or other plants with an intercropping system.

4 months ago

Tech

Google pays Canada media $100 million to use content

The Google funds were transferred to the Canadian Journalism Collective, a non-profit set up to distribute the money, a spokesperson for the tech giant confirmed.

4 months ago

Companies

Biden blocks takeover of US Steel by Japan's Nippon Steel

Nippon and US Steel blasted Biden's decision, calling it a "clear violation of due process" and a political move, and saying they would "take all appropriate action" to protect their legal rights.

4 months ago

Finance Minister Sri Mulyani Indrawati waits for her car at the House of Representatives complex in Jakarta on July 8, 2024.