Garuda Indonesia can look forward to almost US$400 million in net profit next year and more in the following years, the government forecasts, pointing to a turnaround for the debt-laden national flag carrier.

Electric vehicle (EV) company PT Mitra Motor Group (MMG), a subsidiary of coalminer PT Indika Energy, has created a joint venture with EV component producer Foxteq Singapore.

The government is set to tighten its grip on cryptocurrency trading in the country in a move that analysts say will slow the growth of the industry but will serve the long-term interests of investors.

Hong Kong has lost its crown as Asia's premier finance center to Singapore in a global ranking list where New York and London maintained their number one and two spots.

Asian markets fell again Friday as part of a global sell-off fueled by recession fears after central banks around the world ramped up interest rates to fight decades-high inflation.

State-owned Indonesia Battery Corporation (IBC) is considering acquisitions of mines abroad to buttress its supply chains as global uncertainty spotlights the importance of access to raw materials.

Bank Indonesia (BI) has passed its second key interest rate hike this year, just a day after the United States Federal Reserve raised rates by 75 basis points (bps) for the third time in a row.

Japan's finance ministry said Thursday it intervened in the currency market to bolster the yen, which has plummeted against the dollar in recent months on the widening policy gap between the US and Japanese central banks.

State-owned enterprises (SOEs) in the construction sector are poised to face difficulties in obtaining financing, which could potentially hamper the progress of many future national projects that require funding.

The airline industry's record-breaking scramble to convert older passenger jets to freighters during the travel-starved years of the coronavirus pandemic threatens to bring a glut of cargo space as a dimming global economic picture hits demand.

Domestic producers are set to manufacture 15.3 million electric stoves in the next three years to support the government’s attempt to get households that use subsidized liquefied petroleum gas (LPG) for cooking to switch to electric stoves.

The Bank of Japan maintained ultra-low interest rates and dovish policy guidance on Thursday, as it seeks to reassure markets that it will continue to swim against a global tide of central banks tightening monetary policy to combat soaring inflation.

Presidential Regulation No. 112/2022 is expected to help EVs become cleaner as it stipulates the early retirement of coal-fired power plants and provides a “relatively good” pricing scheme for electricity generated from renewables, making NRE projects more appealing to investors.

Low-cost carrier Indonesia AirAsia plans to enlarge its operations beyond the pre-pandemic level by the end of this year.

The report by the European Union's Chamber of Commerce in China marks the latest statement by the foreign business community that Beijing's hardline virus curbs are harming the world's second-largest economy and isolating it on the international stage.

The development of the Abadi liquefied natural gas (LNG) project in the Masela Block is set to enter final investment decision (FID) stage by the end of 2023.

Generous energy subsidies restrained inflation, at 4.69 percent in August, allowing Bank Indonesia (BI) to delay raising rates until last month, well behind most other central banks. 

"We think it is feasible by mid-2024" to conclude a comprehensive economic partnership agreement, Valdis Dombrovskis told reporters in Jakarta. 

A top European industry group warned on Wednesday that firms were losing confidence in China and that its standing as an investment destination was being eroded, citing its "inflexible and inconsistently implemented" COVID policy as a key factor.

Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the US Federal Reserve later in the day.

Trade Ministry International Trade Negotiations Director General Djatmiko Bris Witjaksono insists Indonesia could appeal a WTO decision or use other means to protect its strategic interests.

To encourage local production, the Agriculture Ministry aims to expand the soybean planting area by 600,000 hectares in 2023.

Diversified conglomerate Astra International has completed a transaction to acquire a stake in private lender Bank Jasa Jakarta (BJJ) for Rp 3.88 trillion (US$259 million) with a view to forming its own digital bank.

South Korea’s Jeju Air has inked a deal with the North Sulawesi administration to offer direct flights between Manado and South Korea.

The Indonesian Ombudsman estimated importers had to suffer a total loss of around Rp 3.2 billion (US$214,240), consisting of Rp 2.43 billion in utility costs and Rp 777 million in demurrage fees.

The last time such figures were seen, prices had been artificially bolstered by an increase in VAT. Excluding years when tax hikes impacted the rate, August's inflation was the fastest pace in nearly 31 years.

Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, where demand is picking up for next month's Diwali festival, industry officials said.