The tourism minister says the presidential regulation on a new tourism fund is almost complete and hopes it will be issued before President Jokowi's term ends in October so the fund is up and running by next year to draw more foreign visitors to the country.

Nusantara Airport, initially designated to serve only very important guests of the state , is slated for completion by Aug. 1 with a trial run in July, just in time for the country’s Independence Day flag ceremony, which is also the capital’s inauguration day.

The central bank kept interest rates unchanged after a two-day meeting but announced plans to "reduce its purchase amount of JGBs (Japanese Government Bonds) thereafter to ensure that long-term interest rates would be formed more freely".

In line with a statement made during his shock resignation reveal last Monday, Bambang has now been appointed special presidential envoy for international cooperation for the IKN development project.

Experts say a four-day workweek, while it could reduce stress levels, is currently not an option for Indonesia as an emerging country.

The European Union warned this week it would slap additional tariffs of up to 38 percent on Chinese electric car imports from next month after an anti-subsidy probe.

Between 2014 and the end of 2022, the Chinese government said it had spent more than 200 billion yuan ($28 billion) on subsidies and tax breaks for EV purchases alone.

Beijing hopes the European Union will reconsider tariffs on Chinese electric vehicles and stop going further in the "wrong direction" to shield its auto industry from competition, according to state news agency Xinhua.

Less than a month after Washington quadrupled duties for Chinese EVs to 100 percent, Brussels is expected to set almost certainly far lower tariffs for imports from Chinese makers such as BYD and Geely as well as Western producers such as Tesla that export cars from China to Europe.

In March, some 20 EU members asked Brussels to scale back and possibly suspend the EUDR, saying the policy would harm farmers.

An industry association claims textile businesses in several segments are struggling to attract investment.

The SOEs minister has proposed state capital injection totaling just over US$2.7 billion for next year, the bulk of which is intended to save toll road projects helmed by heavily indebted state-owned developers.

Tapera mandates foreigners working in Indonesia for at least six months must make deposits, despite Indonesian law barring this group from owning a house in the country.

Government debt rose to Rp 8.33 quadrillion (US$513 billion) in April from Rp 8.26 quadrillion in the preceding month but remains well below the legal threshold.

Appealing conditions are needed to encourage the move of Chinese companies to Indonesia in the automotive, electronics, chemical and textile sectors, according to the Industrial Estates Association (HKI).

London-based gold association LBMA said it is reviewing allegations involving Indonesian state miner Aneka Tambang (Antam) over the purity of its gold products.

The government's move to grant state-owned coal mine concessions to business entities owned by religious groups may discourage foreign investment in the domestic coal sector.

Some experts argue the local content requirement (TKDN) prevents companies from purchasing cheaper material and advanced equipment from other countries, thus limiting their international competitiveness.

Without naming names, the senior minister lambasted the former IKN Authority leadership's lack of courage to "make decisions" for hamstringing progress in building the country's new capital, though he also claimed the project was still on target.

The Online Streaming Act, passed in 2023, created a legal framework to regulate digital platforms and oblige them to contribute financially to the creation, production and distribution of Canadian content, such as TV shows, as well as its promotion.

The irregularities were also found in applications from Honda, Suzuki and Yamaha Motor, the ministry said. The automakers were found to have submitted incorrect or manipulated test data when they applied for certification of the vehicles.

A viral video of an argument over public access to Sumba waters has prompted the tourism minister to cite a presidential regulation clearly stipulated that all beaches and waters are public space.

Several unions for both employees and employers are thinking of challenging the legal basis and implementing regulations for the Tapera program at the country's top courts, since the government appears set on collecting matching contributions from workers' monthly wages to fund the housing program.

A surprise press conference revealed on Monday that the IKN Authority head and deputy head had both quit, weeks after the President had received their resignation letters, which experts say could be a bad sign for the nation's new capital and both existing and potential investors.

It marks the first in-person IPEF ministerial session since the substantial conclusion of negotiations for the IPEF Clean Economy Agreement and the Fair Economy Agreement in November in San Francisco.

Minister maintains IEU-CEPA could be concluded before outgoing government ends. 

Indonesia’s green finance taxonomy, which currently labels certain coal-fired power plants “green”, may make it challenging to access financing aimed to help shut down coal plants earlier.

Market mechanisms must not be allowed run their course, the finance minister says, warning that a lack of control by the state opens the door to exploitation.

Statements from the finance minister and a budget planning document suggest the government may cut energy subsidies and compensation next year in a move analysts say would create fiscal space for the incoming administration to pursue new policies.

Australia and China, its largest trading partner, are rebuilding ties after a period of strained relations which hit a low in 2020 after Canberra called for an independent investigation into the origin of COVID-19.