The figure is more than four times the country’s reported sovereign debt to China.

A 20 percent corporate income tax rate remains a distant dream for Indonesian businesses as the newly passed Harmonized Tax Law (HPP) stipulates no cut in the rate, contrary to an earlier government plan.

Moody’s Analytics has forecast that Indonesia’s home price index will rise 5 percent in 2022 and 6 percent in 2023, marking a rebound after years of muted growth.

The index improved to 95.5 points in September from 77.3 in August, suggesting a gradual recovery in line with the gradual reopening of the economy, but it remains in pessimistic territory.

A CN 235-220 aircraft, running on the palm oil-based biofuel, flew for one hour and 20 minutes at up to 16,000 feet above sea level.

The move is the latest attempt by Chinese authorities to boost coal supply amid record-high prices and shortages of electricity that have led to power rationing across the country, crippling industrial output.

Following weeks of partisan fighting, the Senate voted 50-48 to pass the bill, avoiding the risk of a historic default this month.

South Korean tech giant Samsung Electronics defied the global supply chain challenges to forecast a near-30-percent jump in third-quarter operating profits on Friday.

The new law, which was shielded from public scrutiny, raises income taxes on the rich, increases value-added taxes (VAT) and introduces carbon taxes, among other changes meant to increase state revenue.

Occupancy rates for offices, shopping centers and serviced apartments have declined after the government tightened mobility restrictions in the third quarter of this year in response to a spike in virus cases.

Democrats in the US Congress on Wednesday were set to unveil legislation to reduce illegal deforestation globally by restricting the trade of certain agricultural commodities, such as palm oil and cattle, produced with those methods.

Kadin and eight start-ups are launching a digitalization program to ramp up the competitiveness of MSMEs, which contributed 60 percent of GDP last year.

GoTo Group will participate in PT Matahari Putra Prima's (MPPA) upcoming rights issuance, increasing the tech company's stake in the retailer that operates the Hypermart chain.

The Tourism and Creative Economy Ministry has set a target to attract 3.6 million foreign tourists to Indonesia in 2022, almost double the 1.5 million projected for this year.

The new unit is to serve as an "integrated platform" to help companies overcome barriers to sustainable finance.

Indonesian stocks stood out with strong gains on Wednesday while indexes in Asia and Europe dropped sharply and futures did not bode well for Wall Street ahead of the opening bell.

The number of premature deaths attributed to air pollution from coal-fired power plants in Jakarta could double by 2030, a new study shows.

The Southeast Asian tech giant and Gojek rival now owns nearly 90 percent of OVO, in a deal the Indonesian payment services provider said was part of its restructuring plan.

Asian shares dropped on Wednesday, reversing early gains, after an overnight rebound in US and European stocks as investors shrugged off worries about a potential US government debt default, while oil paused near new multi-year highs.

The latest long-term electricity procurement plan (RUPTL) introduces broad changes hoped to make power production more sustainable, but experts warn that finance-related issues might undermine goal.

The holding company was established through Government Regulation No. 72/2021 and signed on July 1.

The B2B e-marketplace's investors include Bezos Expeditions, a venture capital firm owned by Amazon founder Jeff Bezos.

South Korean battery giants are facing growing demands from big automakers, but they cannot find enough technicians with the training needed to keep advancing cutting-edge tech such as solid-state batteries.

Indonesia’s largest technology group GoTo has reiterated its commitment to supporting Indonesian MSMEs through the #BangkitBersama (#RiseTogether) campaign, a movement seeking to promote MSME products as the premier choice for Indonesians all over the country.

Oil prices surged on Monday as OPEC+ kept to its plan to not boost output further, while US and European stocks slumped amid worries over inflation and higher interest rates.

Investment platform Ajaib has bagged US$153 million in its latest funding round, which turned it into the first unicorn of its kind in Southeast Asia.

A new tax law expected to be passed within days will revise provisions on individual as well as corporate income tax and value-added tax while also introducing a second tax amnesty, a carbon tax and the usage of ID numbers as taxpayer identification numbers.

Island-province and top tourism destination Bali is set to welcome international travelers from several countries on Oct. 14, the government announced on Monday.

Demand for energy has roared back and the world still needs fossil fuels to meet most of those energy needs.

Governments need to step up investment in hydrogen production and storage chains to help cut net emissions to zero, the International Energy Agency (IEA) said on Monday.