Foreign minister Retno said the President had met with her Chinese counterpart on Thursday to discuss economic cooperation between their two countries, including Whoosh and the joint feasibility study initiated late last year on extending the HSR track to Surabaya.

Following widespread protests, it appears the government has decided to backtrack on the baggage restrictions it issued in March by reinstating the previous provisions on personal imports.

The government said flights between Indonesia and the Middle East were operating as usual, and no orders had been issued to either suspend or reroute any.

Mining superpower Australia on Thursday announced a US-style scheme to pour public money into manufacturing and clean energy industries, joining the global race to build a cleaner and more resilient economy.

According to the government, the import restrictions are necessary to help boost domestic manufacturing capabilities as a means to tackle the trade deficit, especially in the electronics industry.

Following lackluster investment realization as businesses took a "wait and see" approach in the lead-up to the 2024 election, the government is planning to push foreign investors to make good on their IKN commitments once the election dispute is settled.

The ministry has only approved budget plans (RKABs) from 15 companies that account for 65 percent of the overall mine production capacity in 2023, which stood at around 74,000 tonnes of tin ores.

New import restrictions are roiling supply chains and causing concern among companies including foreign investors in the automotive and electronic industries, who are warning of stockouts and temporary production stoppages.

The US company is now in the process of applying for the ISP and VSAT licenses it needs to offer its satellite internet services to customers, according to the communications ministry.

The meeting, set for Tuesday afternoon, comes ahead of an April 24 gathering scheduled for the victims' families themselves to confer with Justice Department officials.

President-elect Prabowo Subianto will be sworn into office in October in what is to then be the national capital city of Nusantara.

Media experts say government support through regulations and budget spending is crucial to ensure a level playing field amid increasingly dominant tech platforms, but the industry must adapt as well.

While the Trade Ministry's 2021 regulation contains provisions on foreign goods brought in as carry-on items, the amended restriction policy covers more types of goods and additional details as to quota and value per passenger, but lacks clarity on what travelers can and cannot do.

Verified losses amounted to Rp 474 billion (US$29.8 million), according to independent surveyor PT Sucofindo.

The OJK also stated that it could mandate that firms offering new fintech business models register in the program.

The government also claimed the selection of PSN projects was free of conflict of interest and was carried out accountably.

The initial purpose of rural lenders, namely to serve small businesses, has been hampered by the broader market coverage of major banks and digital financial services, experts say.

Another online uproar erupted over the weekend after a video from the Kualanamu International Airport customs and excise office tried to explain about controversial regulations on carry-on goods for those traveling abroad. 

Critics point to a potential conflict of interest, given the benefiting companies’ support for the development of the future capital city.

Tax revenue for the year to March 15 fell 3.7 percent year-on-year (yoy), the Finance Ministry has said, largely a result of companies seeking tax refunds for worse-than-expected business performances last year.

A crackdown on duty-free imports underpinned by new regulations is worrying many who have made a living of loopholes, traveling in and out of the country with goods bought abroad and sold on at home.  

The lawsuit, also brought by multiple US states, said Apple raked in hundreds of billions of dollars by allegedly making it difficult for consumers to switch to cheaper smartphones and devices.

A mitigation scheme is needed to protect the national automotive industry from unwanted side effects that may affect the component supply chain, says Toyota Indonesia vice president director Bob Azam.

The State-owned Enterprises (SOE) Ministry hopes consolidating seven construction firms into three will put them on a firmer financial footing and make their operations more efficient.

In a widely expected decision, Bank Indonesia has held its benchmark interest rate at 6 percent after weighing macroeconomic conditions and prospects, including its projection of monetary policy by the United States Federal Reserve.

The government believes a lack of affordable car models, rather than insufficient charging infrastructure, is creating a bottleneck to electric vehicle (EV) adoption in Indonesia.

A push by some House of Representatives lawmakers to retain Jakarta as a “legislative capital” and hence avoid having to move to the under-construction capital city in Kalimantan found no favor with the government.

The government has announced 14 new National Strategic Projects to be funded by private companies, with construction slated to begin this year.

Japan's central bank on Tuesday scrapped its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programs.

The investment minister has asserted that a government led by presumptive president-elect Prabowo Subianto will stick with the approach of the incumbent administration to attract investment.