Tourism and Creative Economy Minister Sandiaga Uno met with Kazakhstani Ambassador to Indonesia Daniyar Sareknov on Tuesday to discuss the possible introduction of direct flights between the two countries.

The on-demand service rivals are racing to inoculate their drivers to revive consumer confidence and regain ground lost to the pandemic a year ago.

A new World Bank report suggests Indonesia’s economy is more vulnerable than previously assumed with greater risk to the downside should the vaccine rollout, consumer confidence or labor market recovery take longer than expected.

The Health Ministry plans to swap this year Rp 6.5 trillion (US$449.5 million) worth of imported health equipment with locally made versions in steering government spending to favor Indonesian manufacturers.

Improving retail sales in recent months should not be taken as a sign that the industry is out of the woods, a retail association has warned.

Bank Indonesia decided on Thursday to hold its benchmark seven-day reverse repo rate at 3.5 percent to maintain rupiah stability as the US Federal Reserve maintains its dovish stance for this year.

The government wants to increase state revenue with a second tax amnesty program just a few years after the first, but critics fear the move will encourage tax evasion.

Indonesia Investment Authority (INA), a recently founded sovereign wealth fund, has expressed interest in start-ups in an apparent move to capitalize on rapid growth in the tech industry.

Bank Indonesia and analysts alike believe high inflation seen in the United States in May is temporary and will not prompt the US Federal Reserve to taper off its bond purchasing program this year.

Pertamina, Indonesia’s largest oil and gas company, reported Monday that it still managed to book a net profit of US$1.05 billion last year, down 58.44 percent from 2019. Its revenue also fell 24.31 percent to $41.46 billion.

Indosat Ooredoo, Indonesia’s leading digital telecommunications provider, has successfully passed the Operation Feasibility Test (ULO) held on June 3-4 for the 1,800 MHz frequency band, a step forward in the digital transformation of Indonesia.

The government wants to introduce a carbon tax but has yet to work out the details, and what’s too much for some is too little for others.

The French unit of the Swedish furniture giant was fined one million euros ($1.2 million) while its former chief Jean-Louis Baillot was handed a suspended two-year prison term and ordered to pay 50,000 euros.

The World Bank has approved a US$400 million loan to Indonesia so that the country can mitigate what the bank calls substantial macroeconomic risks stemming from a financial sector left vulnerable by the COVID-19 crisis.

Statistics Indonesia (BPS) reported on Tuesday that exports grew last month by 58.76 percent year-on-year (yoy) to US$16.6 billion and imports rose by 68.68 percent yoy to $14.23 billion.

Jakarta and Seoul are looking at collaboration on transportation projects, including the Bali LRT and the Jakarta MRT, as well as a potential coal railroad in Sumatra.

"Due to ongoing pandemic-related flight and travel restrictions, the airline reported a loss of 20.3 billion dirhams ($5.5 billion) after last year's 1.1 billion dirhams ($288 million) profit," the Middle East's largest carrier said in a statement.

The Taxation Directorate General has defended a draft to amend VAT rules that will levy taxes on staple foods and education services, arguing that the proposed changes will not place a burden on low-income households but make taxation more just for everyone.

The former national disaster and COVID-19 response head has been appointed to lead Indonesia's mining holding company, chiefly because of his environmental experience and expertise.

The government will charge no luxury tax (PPnBM) on the purchase of new cars with engines below 1,500 cc in size until the end of August as it has extended by three months a waiver introduced earlier this year. Meanwhile, a 50 percent luxury tax cut will apply in the last quarter of the year.

Average wage in Indonesia dropped 1.75 percent yoy to Rp 2.86 million (US$201) in May, but personal incomes have begun to recover in recent months, in line with overall economic improvements.

More than a year on, COVID-19 has certainly disrupted many aspects of our lives.

The proposal goes along with other increases in value-added taxes, a new carbon tax and another proposal for tax amnesty.

The letter, seen by Reuters, is from 3D Investment Partners, which owns a 7.2 percent stake in Toshiba. It was sent to the four on Sunday, according to people with direct knowledge of the process.

LINE Bank, the digital banking arm of Bank KEB Hana Indonesia, launched operations on Thursday. The online-only bank is run in collaboration with Japan-based technology firm LINE Corporation and its subsidiary LINE Financial Asia.

The popular app has dominated the Chinese market ride-hailing market ever since it won a costly turf war against US titan Uber in 2016 and took over its local unit. 

Life insurers in Indonesia booked net income in the first quarter of 2021, reversing the net loss booked in the same period last year, as business activities and capital markets recovered.

The partnership would provide Visa with a debit card transaction processing center in Indonesia while allowing ALTO Network to benefit from Visa’s capability to provide security and efficiency.

BukuWarung, the maker of a bookkeeping and point-of-sale (POS) app for warung (kiosks), has received US$60 million in a series A funding round led by United States-based Valar Ventures and Goodwater Capital.

G7 countries that make up lucrative markets for US tech giants have moved closer to a plan to squeeze more tax money from the coffers of Amazon, Apple, Facebook and Google.