"We always monitor all of the options. If there is the country (and) they give a better price, of course," Jokowi said in an interview with the Financial Times when he was asked whether Indonesia would buy oil from Russia.

Planned regulations aimed at strengthening data protection in Indonesia pose a significant threat to companies found to be noncompliant.

At the first ministerial for the Indo-Pacific Economic Prosperity Framework (IPEF), officials sketched the basis for common standards on key pillars, which also include green energy and the fight against corruption, in 14 countries accounting for 40 percent of the global economy.

The 14 member states of the Indo-Pacific Economic Framework will engage in rule-setting talks to create economic opportunity, improve labor conditions and promote sustainability in the region, Japanese trade minister Yasutoshi Nishimura said after a two-day IPEF meeting in Los Angeles.

The consumer confidence index rose in August, ending a two-month decline, but experts have expressed doubt that it marks a turnaround.

MSMEs that have gone online are able to earn 1.1 times more revenue compared with those that only have an offline presence. 

Amazon Web Services’ managing director for ASEAN spoke to The Jakarta Post’s Deni Ghifari about the company’s philosophy, its views on Indonesia and the digital transformation.

Earlier this week, Coordinating Economic Minister Airlangga Hartarto flew to Los Angeles to join with fellow economic ministers from 13 Indo-Pacific countries to start negotiations on the Indo-Pacific Economic Framework, Washington's first major pan-Asian trade engagement effort in nearly a decade.

The government says the ICP set for next year takes into account the prospects of a spike in world oil consumption during the winter as well as disrupted supplies from Russia.

India exports rice to more than 150 countries, and any reduction in its shipments would increase upward pressure on food prices, which are already rising because of drought, heat-waves and Russia's invasion of Ukraine.

Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the US Federal Reserve Chair reinforced bets of aggressive tightening ahead.

State-owned oil-and-gas company Pertamina is in talks to buy crude oil from Russia while the G7 forum is trying to get other countries to join its push for a price cap on Russian oil.

Digital banks in Asia-Pacific (APAC), including Indonesia, will face difficulties in achieving financial viability amid monetary tightening across the region, a report from Fitch Ratings says.

It has been reported that certain segments of the fashion industry have been gaining traction this year: Muslim fashion and modest fashion. The majority of these two segments’ growth is seen in sales through e-commerce platforms.

Indonesia's inflation is predicted to hit a rate of 6.6 percent-6.8 percent for 2022, compared with the August rate of 4.69 percent, which was already near a seven-year high and above BI's target.

Two large transportation groups have objected to the government's new fare structure for on-demand motorcycle taxis, saying the adjusted fares were disproportionate to the recent fuel hike.

The Indo-Pacific Economic Framework talks in Los Angeles will seek to define a sweeping platform for market-driven economies to engage on trade and data flows, environmental and labor standards, supply chains and anti-corruption efforts.

Palm oil output in Malaysia, the world's second-largest producer, is forecast to decline, or at best remain unchanged, from last year's 18.1 million tonnes, according to planters and analysts. 

Most Asian markets enjoyed a rare advance on bargain-buying Thursday, tracking a Wall Street rally after a series of losses, though the dollar resumed its upward march with the Federal Reserve expected to announce another bumper interest rate hike.

While some multinational companies have been putting solar photovoltaic (PV) panels on their buildings in Indonesia, significant growth in green energy infrastructure won’t happen until the government creates an enabling environment, experts say.

Telecommunication firms (telcos) across Asia-Pacific are expected to grow next year at their fastest pace since 2016, thanks to soaring demand for data and broadband in the region.

The government is planning auction segments of the 2.1 GHz radio frequency band in a move that may hasten 5G network development as the country strives to cultivate a more technological economy.

Under pressure to control a swelling energy subsidy budget Jokowi hiked subsidised fuel prices by 30 percent  on Saturday, sparking protests across the nation of 270 million people.

At the end of August, Indonesia’s foreign exchange reserves, despite remaining stagnant from the previous month at US$132.2 billion, were deemed sufficient to support the country’s economic prospects for the rest of this year.

PT Waskita Toll Road (WTR), a subsidiary of state-owned construction giant PT Waskita Karya (WSKT), has divested two Trans-Java Toll Road sections to the Indonesia Investment Authority (INA), after the latter brought in three foreign investors to finance the project.

Ramos-Horta named them as potential investors as the country is making a push to break a stalemate with Australia and Sunrise operator Woodside Energy Group over how to develop the gas fields - either by piping the gas to Timor Leste or to Darwin in northern Australia.

An Indonesian agricultural supply chain platform has secured one of the largest-ever series A fund injections in the country.