The government will continue to waive export levies on palm oil products, allowing the world’s largest supplier to keep boosting shipments abroad for the rest of this year.

Elon Musk on Tuesday offered to push through with his buyout of Twitter at the original agreed price, as a trial over his efforts to withdraw from the deal loomed.

The government has just released Presidential Decree No. 112/2022 on the acceleration of renewable energy development, to promote electricity production coming from renewable sources. One of the key points of the decree is to set the maximum electricity price purchased by state-owned electricity company PT PLN from producers of renewable electricity.

Xendit, a Souteast Asian financial technology (fintech) unicorn, has laid off 5 percent of its staff in Indonesia and Philippines due to the macroeconomic situation, the company has announced.

Two state-run credit guarantee insurer companies are running short on capital needed to service claims on defaults under the microcredit program (KUR), risking their ability to provide future loan guarantees and support the government-led low-cost financing assignment.

The Energy and Mineral Resources Ministry has announced energy company PT Bumi Pratiwi Hulu Energi as the winning bidder for the Bawean oil and gas block off the coast of East Java.

The Financial Services Authority (OJK) has upgraded its target for the growth of the domestic capital market to more than Rp 182 trillion this year, more than 4 percent higher than initially projected.

Boeing faces a December deadline to win regulatory approval for the MAX 10, which is slightly larger than current 737 MAXs in service, as well as for a smaller variant, the MAX 7. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service. 

Manufacturing purchasing managers across Indonesia are confident about business prospects thanks to increasing orders.

Sustainability is at the core of the upcoming G20 Summit in Bali. With Indonesia taking the presidency this year, the summit will focus on three main issues, one of which is Sustainable Energy Transition.

Headline inflation continues its upward spiral as the government raises fuel prices, setting preconditions for higher transportation costs in the coming months.

Swiss food giant Nestle plans to stop sourcing from subsidiaries of publicly listed palm oil producer PT Astra Agro Lestari as the latter faces accusations of land and human rights abuses by environmental groups.

Google Asia Pacific announces a new partnership with Alpha JWC Ventures in cloud adoption for start-ups, which also include trainings and workshops pertaining to Google’s platforms and technologies.

The Agriculture Ministry’s Quarantine Agency (Barantan) announced that 1,940 tonnes of quarantined imported goods, which had been detained for 35 days, had finally passed health inspections and been released from facilities.

Finance minister Kwasi Kwarteng sent shockwaves through financial markets when he published a mini-budget on Sept. 23, cutting taxes including the 45p highest rate of income tax, in a plan to be funded by vast government borrowing. 

The central bank expects core inflation to cool to below 4 percent by this time next year, a significant improvement from its year-end projection of 4.6 percent.

Stocks drifted in Asia on Monday as investors await key US jobs data, while girding themselves for a corporate earnings season many fear will highlight the impact of surging inflation and interest rates.

The Jakarta Post’s Divya Karyza interviewed Teguk CEO Maulana Hakim on Saturday to explore the Indonesian food and beverage company’s journey leading to the opening of its first store in New York, the United States, its plan for further expansion and its latest venture into the fast-moving consumer goods (FMCG) segment.

Analysts and industry observers generally feel that the recent increase in the default rate on P2P lending platforms can only be a good thing, as it would narrow the field and lead to greater competition.

The dollar rose against the euro on Friday but pared gains late in a session that was muddied by quarter-end trading while riskier commodity-led currencies fell sharply after European inflation hit a record high and US consumer spending increased faster than expected.

Publicly listed coal miner PT Indika Energy, through its subsidiary PT Indika Mineral Investindo, has completed a US$5 million acquisition of bauxite miner PT Perkasa Investama Mineral in a move to diversify its business away from coal. 

Meta chief Mark Zuckerberg revealed a planned pause in hiring during a weekly all-hands meeting, the Journal reported, saying the move came as the social media titan planned to cut expenses by at least 10 percent.

Indonesia Investment Authority’s involvement in a US$300 million funding to Traveloka is believed to be a good deal as it will help the sovereign wealth fund, seeing as how the unicorn is a leading player in the online travel agent market, which is deemed highly lucrative.

Asian shares on Friday were headed for their worst month since the onset of COVID-19, while jitters in currency and bond markets persisted over hawkish talk from central banks, worries about a global recession and rising geopolitical risk.

The government is preparing a regulation draft on carbon capture storage (CCS) and carbon capture utilization and storage (CCUS) as the country seeks to push its adoption to reduce carbon emissions from hard-to-abate industries, but whether this will be effective depends largely on a working financing mechanism.

Indonesian state-owned enterprises (SOEs) are bracing for the impact of further US Federal Reserve interest rate hikes, which would make their financing more difficult and costly, prompting the government to find new options.

The House of Representatives passed the 2023 state budget bill into law, restoring a targeted shortfall of below 3 percent, which has been detaining Indonesian fiscal expansion for the past three years due to the COVID-19 pandemic.