The Tourism, Arts and Culture Minister said the target was surpassed on June 21, with a new target of 4.5 million currently set.

Russia has struggled to keep up payments on $40 billion of outstanding bonds since its invasion of Ukraine on Feb. 24, as sweeping sanctions have effectively cut the country off from the global financial system and rendered its assets untouchable to many investors.

A day after celebrations over setting Kyiv on the road to membership of the bloc, Friday's summit in Brussels was a sober reflection on the economic impact of Russia's invasion of Ukraine.

The World Bank has noted a lack of depth in Indonesia’s financial ecosystem when compared with developing neighboring countries, as domestic financial sector assets account for only 77 percent of GDP.

Globally, coal is the main source of energy for electricity production, but it is also the top producer of greenhouse gases.

The core consumer price index, which excludes fresh food, jumped 2.1 percent year-on-year in May, according to figures released by the internal affairs ministry.

The monetary authority hiked its key interest rate by another 25 basis points to 2.5 percent, effective Friday. 

The measure would be the latest escalation in a clash between Europe and Moscow that has exposed the bloc's dependence on Russian gas supplies and the difficulty of finding alternatives for several years.

For members of the International Air Transport Association, gathered in Doha for their annual meeting this week, minds are focused on how far such increases risk undermining passenger growth targets.

The world economy had just gained some breathing space after two years of pandemic restrictions, only to be thrown into disarray again by high inflation, forcing authorities around the world to embark on a course of unprecedented monetary tightening. Filippo Gori, CEO of JP Morgan Asia-Pacific, spoke with The Jakarta Post’s Vincent Fabian Thomas and Mark Lempp on June 17 to discuss challenges in the global economy, capital market and banking industry.

"Airlines are resilient. People are flying in ever greater numbers. And cargo is performing well against a backdrop of growing economic uncertainty," IATA director-general Willie Walsh said in an upgraded industry forecast for 2022.

Russia, facing severe Western sanctions over its invasion of Ukraine, warned the European Union in April against sweeping sanctions on coal, saying they would backfire as the fuel would be redirected to other markets.

Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia's European and Far Eastern ports, totalled nearly 8.42 million tonnes, according to data from the Chinese General Administration of Customs.

Fish and shrimp famers on the northern coast of Java are dealing with the aftermath of the worst tidal inundations in at least a decade, and more flooding is expected this month.

"First of all, it’s not inevitable," Biden told AP in an interview. "Secondly, we’re in a stronger position than any nation in the world to overcome this inflation," he said.

But it said it would "pay due attention" to foreign exchange markets, a rare comment that comes after the yen hit a 24-year low against the dollar.

The deals were ground out over five days of bargaining at a conference of over 100 trade ministers, and are seen as a test of the ability for nations to strike multilateral trade deals amid high geopolitical tensions. One agreement has already been reached, on maintaining a moratorium on e-commerce tariffs.

Indonesia’s trade surplus plummeted by 61 percent to US$2.9 billion in May from the all-time high of $7.56 billion reached in April.

In an official ceremony at the state palace the president inaugurated Zukifli Hasan, chairman of the National Mandate Party (PAN) and a former forestry minister as the country's next trade minister, among other changes.

The Australian Energy Market Operator said it had "suspended the spot market" for electricity in "all regions" because it was no longer providing "secure and reliable supply". 

Treasury yields hit decade highs and the dollar a 20-year peak as futures implied it was near certain the Fed would hike by 75 basis points to a range of 1.50-1.75 percent later on Wednesday.

However, the curbs are only being eased on a small number of chicken types -- and not the one most commonly exported to Singapore -- meaning the impact could be limited.

"The Kremlin has used our dependency on Russian fossil fuels to blackmail us," she said in a speech at the Ben Gurion University in the southern Israeli city of Beersheba.

The south Asian country is the world's biggest importer of vegetable oils and lower purchases could weigh on Malaysian palm oil futures.

Australia's energy market regulator warned there could be a power shortfall in the states of Queensland and New South Wales, which are home to more than 13 million people.

The report from the independent, Finland-based Centre for Research on Energy and Clean Air (CREA) comes as Kyiv urges the West to sever all trade with Russia in the hopes of cutting off the Kremlin's financial lifeline.

Despite lifting a COVID-19 freeze on recruiting foreign workers in February, Malaysia has not seen a significant return of migrant workers due to slow government approvals and protracted negotiations with Indonesia and Bangladesh over worker protections, say industry groups, companies and diplomats.

As the world races to meet net-zero emissions targets, it has been made clear that collaboration between governments and the private sector is essential to the collective effort in mitigating climate change effects.      

While headline inflation in Indonesia remains lower than in many other countries, food and fuel have increased more in price than most products, and consumers are feeling the pinch.

China's factory-gate inflation dropped to its lowest in a year in May, official data showed Friday, while consumer prices were stable despite COVID-linked transport disruptions.