While the PPKM Darurat may negatively affect consumer confidence and retail sales this quarter, an economist said that strict enforcement of the new restrictions would maintain consumer expectations toward a fourth-quarter rebound in consumer confidence.

The statement followed a field inspection carried out by the governor a few days into emergency curbs in the capital.

The SOEs Ministry has proposed injecting more than Rp 72 trillion into state firms in 2022 to help an ailing public sector, but the Finance Ministry is not yet on board.

E-commerce unicorn Bukalapak is planning to raise Rp 22 trillion (US$1.5 billion) from its initial public offering (IPO) in late July, prior to its listing on the Indonesia Stock Exchange (IDX) in August.

With KAI in charge of the Indonesian consortium, PT Pilar Sinergi BUMN Indonesia (PSBI), the government is also planning a state capital injection to relieve the railway operator of financial pressure.

The holding company, officially established on July 1, is in the process of acquiring seven companies that include well-known names such as air carrier Garuda Indonesia and department store PT Sarinah.

Ivermectin, known best as a treatment for ringworm, has doubled in price after some public figures made unverified claims about its effectiveness at treating COVID-19.

Digital banking is transforming the traditional financial landscape. There are now 249 digital banking players globally, comprised of daring digital upstarts and transitioning legacy operators, with Indonesia offering a fresh and hugely exciting opportunity for this expanding market.

Indonesia has fallen back into the World Bank’s lower-middle-income country classification after just a short stint in the upper-middle-income group in what the government has called an inevitable result of the COVID-19 crisis.

The agreement to sell Telenor Myanmar to M1 Group for $105 million will ensure continued operations of its fixed and wireless networks, it said.

COVID-19 has further pushed the office occupancy rate in Jakarta's central business district (CBD) to 79.2 percent in the second quarter this year, the lowest in five years, according to Colliers.

The government has lowered its economic growth forecast in response to the latest measures taken to contain the coronavirus, but businesspeople remain optimistic.

The Jakarta-based firm has sold its Thai business to Malaysian budget carrier Air Asia Group in a stock swap, an exchange that will give Gojek a 4.76 percent stake in the airline’s lifestyle app, AirAsia SuperApp.

Credit rating agency Fitch Ratings is expecting mini-market operators such as Alfmart to fare better than their big counterparts like Hypermart and Hero Supermarket under the emergency restrictions.

The deal concludes one of the more challenging of nine elements related to the block’s nationalization, which also include transferring data, manpower and licenses from CPI to Pertamina Hulu Rokan.

Plans to develop a downstream mining industry in Indonesia to adapt to a long-term global shift in ore demand away from coal toward metals may also weigh on coal prices and demand over the decade.

State-owned pharmaceutical holding company PT Bio Farma recently released a spit sample COVID-19 test kit named Bio Saliva developed in cooperation with genomic technology start-up Nusantics.

The Office of the Coordinating Economic Minister's Iskandar Simorangkir said restrictions would dampen consumption, investment and export growth, which contributes over 80 percent of GDP.

The ride-hailing giant's app was ordered to be removed from mobile app stores in China on Sunday by the Cyberspace Administration of China (CAC) which followed an official investigation into the company's handling of customer data.

This recurrence reminds us of when the country needed to shut down most economic activities for a full month in April 2020. Economic growth was curbed immensely due to the mobility restrictions.

The ministry set the benchmark coal price at $115.35 per tonne in July, higher than the $100.33 per tonne in June and the highest since $117.6 per tonne in May, 2011, Refinitiv data showed.

The government has again increased projected health spending for this year as the pandemic continues to worsen.

Indonesian government expects debt to keep rising until at least next year. Analysts say it may take longer to level off.

The Tourism and Creative Economy Ministry plans to ban Fortnite over an allegedly blasphemous objective in the popular video game.

Indonesia recently welcomed the first two commercial 5G in the country but mass 5G availability would still be in the far future as the government focused on 4G network rollout in rural areas.

The announcement comes just days after the Cyberspace Administration of China said it was probing the company over "cybersecurity" concerns and "to prevent security risks to national data".

A trip from China to Europe has exceeded US$10,000, compared with just $1,600 last year.

The government has called off a plan to reopen Bali to foreign tourists following new curbs on mobility and retail opening hours on Java and Bali to stop a surge in COVID-19 cases and contain the spread of the highly contagious Delta variant of the virus.

The energy transition overseen by Pertamina is a key element in the government’s plan to reduce national greenhouse gas emissions by 29 percent by 2030.

The government plans to shift around funds to finance relief efforts without exceeding this year's budget deficit limit.