The Bank Indonesia logo adorns the gate of the central bank's headquarters in Jakarta in this undated photograph.

Gold rally sparks calls for BI to diversify beyond the dollar

Indonesia’s central bank currently holds only 80 tonnes of gold, just 5.9 percent of its total reserves.

9 hours ago

Minister tells e-commerce platforms to stop sale of imported used clothes

The ministry summoned representatives of the Indonesian E-commerce Association (idEA), whose members include Shopee, Tokopedia and TikTok Shop, to follow up on President Prabowo Subianto’s order to curb illegal imports. ...

2 days ago

Regulations premium

Banks near full disbursement of $12b liquidity boost, cut borrowing costs

September's liquidity injection led to state-owned banks cutting their deposit rates by around 50 basis points (bps) and lending rates by around 11 bps, according to the Finance Ministry, which expects this to translate into stronger growth this quarter. ...

3 days ago

The Latest

Fishermen in Batang, Central Java, discharge their catches in the harbor.

Regulations premium

Indonesian fishermen reject WTO clampdown on subsidies

The Indonesian Traditional Fishermen Association (KNTI) has rejected a World Trade Organization push to prohibit subsidies for problematic fishing practices.

1 year ago

A man walks past the World Trade Organization headquarters on June 15, 2022, during the 12th WTO Ministerial Conference in Geneva.

Regulations premium

RI to claw back right to tax imported digital goods in 2026

The end of the WTO moratorium on e-commerce tariffs in 2026 paves the way for Indonesia to start levying excises on imported digital goods.

1 year ago

Press Council chairperson Ninik Rahayu speaks during an online press briefing on March 5, 2024.

Regulations premium

How a committee plans to make digital giants work with media firms

The newly signed publisher rights regulation tasks a committee with facilitating partnerships between digital platforms, such as Google and Meta, and the press.

1 year ago

A man walks past the World Trade Organization headquarters during the 12th WTO Ministerial Conference in Geneva on June 15, 2022.

Regulations

WTO backs EU in deforestation case against Malaysia

In the WTO's first ruling related to deforestation, a three-person panel voted by two-to-one to reject Malaysia's substantive claims, while accepting its complaints over how the measures had been prepared, published and administered.

1 year ago

Mandapa, a Ritz-Carlton Reserve property in Ubud, Bali, was named the top hotel in Asia and second best hotel in the world.

Regulations premium

Businesses call on govt to tighten the screws on foreign travel agents

Association blamed those platforms for causing financial losses for local accommodation companies.

1 year ago

Intergenerational ticket: Presidential candidate Prabowo Subianto (left) and his running mate Gibran Rakabuming Raka, who is President Joko “Jokowi” Widodo's eldest son, arrive for the fourth electoral debate of the 2024 presidential election at the Jakarta Convention Center on Jan. 21, 2024.

Regulations premium

Prabowo wonders whether Indonesia needs to keep its 3% deficit cap

The presumptive president-elect also opined that the government should consider privatizing state-owned enterprises in non-strategic industries like tourism and hospitality.

1 year ago

A BYD Seal is seen at its launch in Jakarta on Jan. 18, 2024.

Regulations premium

Govt begins to roll out import duty relief on electric vehicles

This fiscal policy, which will last until 2025, aims to support the green transition by attracting investment, boosting domestic EV production and accelerating the EV program.

1 year ago

Cashing in: Retirees line up to cash their monthly pension fund in Jakarta on Feb. 15, 2011.

Regulations premium

Mandatory pension programs limit space for private funds

Local pension funds had Rp 1.4 quadrillion (US$89.05 billion) in assets at the end of last year, three-quarters of which came from mandatory pension programs.

1 year ago

President Joko “Jokowi“ Widodo speaks on Feb. 19, 2024, during the inauguration of the National Defense Central Hospital (RSPPN) in Jakarta.

Regulations

No plan to increase fuel prices: Jokowi

The decision was announced after the President staged a short cabinet meeting before his departure to Australia for a working visit.

1 year ago

Workers check solar panels at Tirtonadi Terminal in Surakarta, Central Java, for a Transportation Ministry project capable of producing 500,000 watts of electricity to power operations of the terminal, in this undated photo.

Regulations premium

New rooftop solar rule set to boost industrial, commercial use

A revised ministerial regulation is expected to support industrial and commercial use of rooftop solar panels, but how it is implemented will be crucial in ensuring companies can easily access the electricity generated by the installations.

1 year ago

Regulations

Elon Musk sues OpenAI for abandoning original mission for profit

Musk's lawsuit alleges a breach of contract, saying Altman and co-founder Greg Brockman originally approached him to make an open source, non-profit company, but the startup established in 2015 is now focused on making money.

1 year ago

Delegates attend the 13th WTO ministerial conference in Abu Dhabi, United Arab Emirates, February 26, 2024.

Regulations

WTO e-commerce tariff moratorium wins temporary reprieve

India, which had sought concessions on agriculture, had blocked the extension but reversed course after a request from host United Arab Emirates, leaving the two-year extension as the only significant outcome from the meeting.

1 year ago

President Joko “Jokowi” Widodo inaugurates the Rp 1.2 trillion PT Kaltim Ammonium Nitrate plant in Bontang, East Kalimantan, on Feb. 29, 2024.

Regulations premium

Jokowi opens factory to reduce reliance on imported fertilizer material

The Rp 1.2 trillion (US$76.3 million) plant owned by PT Kaltim Amonium Nitrat (KAN) can produce 75,000 tonnes of ammonium nitrate a year.

1 year ago

Coordinating Minister for Investment and Maritime Affairs Luhut Panjaitan (left) holds a meeting with Coordinating Minister for Economic Affairs Airlangga Hartarto on Feb. 22, 2024.

Regulations

Indonesia aims to become OECD member in 2 to 3 years, senior minister says

The Southeast Asia’s largest economy hopes to attract more investment and trade deals by becoming OECD member.

1 year ago

President Joko “Jokowi“ Widodo welcomed a delegation from the Organization for Economic Co-operation and Development (OECD) with Finance Minister Sri Mulyani Indrawati and Foreign Minister Retno Marsudi at the Presidential Palace on Thursday, Aug. 10, 2023.

Regulations

As OECD talks begin, Indonesia faces uphill task in joining elite club

Indonesia would have to undergo a comprehensive review by 23 OECD committees and would need the unanimous consent of all 38 member-states before it is allowed into the hallowed club.

1 year ago

Coordinating Economic Minister Airlangga Hartarto (left) and Agrarian and Spatial Planning Minister Agus Harimurti Yudhoyono pose for photographs after a meeting at the Office of the Coordinating Economic Minister in Jakarta on Feb. 26, 2024.

Regulations premium

Subsidies, social aid to stretch budget deficit close to limit

Government projections point to a sharp increase in the gap between state expenditure and revenue this year amid massive spending on social aid and subsidies.

1 year ago

Regulations

Pacific Islands nations should consider debt-for-nature deals, IMF says

Debt-for-nature deals, where government borrowers swap loans for cheaper debt underpinned by credit guarantees from multilateral lenders and commit some of the savings to environmental conservation, are rare but growing.

1 year ago

Coordinating Economic Minister Airlangga Hartarto (left) and Agrarian and Spatial Planning Minister Agus Harimurti Yudhoyono speak to reporters on Feb. 26, 2024 outside Airlangga’s office in Jakarta.

Regulations premium

2025 fiscal draft paves way for transition to Prabowo

A cabinet meeting on Monday reportedly included discussions on the aspirational programs of Prabowo Subianto, indicating the outgoing administration's accommodative approach to President Jokowi's likely successor.

1 year ago

Drawing on lessons from campaigns to fight tobacco, the WHO says taxing sugary drinks could help reduce the consumption of sugar, bringing health benefits and more income for governments.

Regulations premium

Ministry to require sugar content labels on beverages

Indonesia is expected to implement sweetened drink tax this year.

1 year ago

Construction of the Nusantara Central Nusantara District (KIPP) of the future capital city continues, in North Penajam Paser regency, East Kalimantan, on Dec. 7, 2023. Public Works and Housing Minister Basuki Hadimuljono recently reported that the first phase of the construction for the new capital city has reached 60 percent.

Regulations premium

Govt officials to use public transit instead of service cars in new capital: IKN Authority

However, this excludes ministers and the president, who would still maintain use of state-provided service vehicles.

1 year ago

Smoke and steam billow on July 11, 2020, from a coal-fired power plant owned by Indonesia Power, in Suralaya, Banten.

Regulations premium

Climate group criticizes new green guidebook as setback

The new taxonomy includes the construction of some coal-fired power plants in the Transition category.

1 year ago

Regulations premium

Publishers’ rights rule still applies to Meta, ministry says

Meta says it understands that it will not be required to pay for news content voluntarily posted by news publishers.

1 year ago

A worker walks on June 8, 2023 past banners at a construction site of the Nusantara Capital City (IKN) development project in North Penajem regency, East Kalimantan.

Regulations premium

Govt halves target for moving civil servants to Nusantara this year

The government has slashed its target for relocating high-ranking civil servants this year by nearly half to 6,000, from an initial figure of 11,916.

1 year ago

An oil and gas rig in the offshore Kepodang Field in the Muriah Block operated by Saka Energi Muriah Limited is seen in this file photo.

Regulations premium

Govt prepares to implement incentives for carbon capture projects

The government is preparing implementing regulations that will enable incentives for carbon capture storage (CCS) projects in the country, following the issuance of Presidential Regulation No. 14/2024.

1 year ago

An electric car powers up at a charging station belonging to state electricity company PLN.

Regulations premium

Finance minister rolls out VAT discount for electric vehicles

Finance Minister Sri Mulyani Indrawati has issued a regulation providing more value-added tax (VAT) discounts for purchasers of electric cars and buses in 2024.

1 year ago

Cooperatives and SMEs Minister Teten Masduki speaks to guests at the ministry office in Jakarta in this file photo taken on Aug. 29, 2022.

Regulations

TikTok violates in-app transactions ban, says minister

TikTok had been forced to close its relatively new e-commerce service, TikTok Shop, in Indonesia after the country banned online shopping on social media platforms last year, citing the need to protect smaller merchants and users' data.

1 year ago

Regulations premium

Experts warn of waste from Prabowo’s school lunch program

Indonesia ranks high for per-capita food waste.

1 year ago

President Joko “Jokowi“ Widodo greets dancers during the opening ceremony of 2024 Indonesian International Motor Show (IIMS) at JIExpo Kemayoran in Jakarta on Feb. 15, 2024.

Regulations premium

Jokowi signs regulation requiring Google, Meta to pay for news

The rule brings Indonesia in line with Australia and Canada, which have enacted similar publishers’ rights policies.

1 year ago

Presidential candidate Prabowo Subianto (left) addresses supporters next to vice presidential candidate Gibran Rakabuming Raka (right), the son of President Joko “Jokowi“ Widodo and current Surakarta City mayor, after polls closed in the countrys presidential and legislative elections in Jakarta on Feb. 14, 2024.

Regulations premium

Prabowo team says poor regions will get free meals first

The campaign team for Prabowo Subianto and Gibran Rakabuming Raka has toned down public expectations about one of its key election promises, explaining that the free lunch and milk will initially be handed out only to children in disadvantaged rural regions.

1 year ago