The Nusantara Capital City (IKN) Authority reported increasing interest from firms looking to put funds into the project, but few are willing to commit ahead of the 2024 election. 

Slow growth in gross fixed capital formation points to problems in the real sector, analysts say, though they disagree on how big a problem that is.

The Investment Ministry said on Wednesday that no United States electric vehicle (EV) company had submitted an investment application to the ministry, despite the government’s efforts to attract EV production to Indonesia.

Most Asian markets rose Wednesday but traders remained on edge after Federal Reserve boss Jerome Powell reiterated that inflation was coming down but interest rates might need to go higher than expected to get it under control.

Coworking businesses have been bleeding throughout the pandemic, with the recent bankruptcy of one of the dominant players CoHive being a symptom of what experts saw as the industry’s prevailing condition in 2023.

Looking back at consumers' spending behavior over the past year and into the early part of the year indicates some optimism for 2023.

With uncertainty still surrounding the course of the global economy this year, Indonesia's major lenders are erring on the side of caution with their 2023 loan targets.

The loss compared with the net profit of 29.0 billion yen ($219 million) the firm reported in the same three-month period last year.

Last month, the Arlington, Virginia-based company announced it would hire 10,000 workers in 2023 after hiring 15,000 people in 2022, but said some support positions would be cut. 

Asian share markets stabilized somewhat on Tuesday after steep losses in the past 24 hours, while the US dollar remained elevated as investors considered the prospects interest rates would remain higher for longer in many developed economies.

Indonesia’s economy grew at the fastest pace since 2013 last year, marking the highest economic output since President Joko “Jokowi” Widodo took office.

Armed with the world's largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable for the electric vehicle industry, which uses the metal extensively.

Asian markets mostly fell Monday and the dollar extended gains after a forecast-busting US jobs report fanned expectations of more Federal Reserve interest rate hikes.

The Trade Ministry plans to change the rules on e-commerce in a move aimed at protecting local manufacturers of consumer goods against competition from abroad.

An initial public offering (IPO) by Pertamina Geothermal Energy (PGE), the geothermal arm of state-owned oil and gas giant Pertamina, is expected to receive a positive response from the market with its business being in line with the world’s shift toward renewables and sustainable investments.

The investment minister has expressed frustration about his country being dealt lower carbon credit values than Western counterparts and about international disapproval of Indonesia’s downstream industry strategy.

The facility is expected to be able to produce 140,000 vehicles a year and will replace the company’s factory in Sunter, North Jakarta, which has been operating for 27 years.

The UK government will make available US$1.25 billion for the development of the MRT Jakarta project with the possible involvement of Crossrail International, Mott Macdonald and six other undisclosed UK companies.

The senior minister has said all that remains is to finalize a nondisclosure agreement with the US electric carmaker.

Asian equities were mixed Friday as the optimism over a possible pause in Federal Reserve interest rate hikes again gave way to worries about the global economy as more than a year of monetary tightening kicks in.

The government has taken issue with the domestic banking industry’s reluctance to finance the development of downstream mining industries, which has left foreign financiers to fill the gap.

The government expects EVs to account for 5 percent of domestic vehicle sales this year, determined not to fall behind Thailand in the race to become an EV export hub.

The post-tax figure was more than double the amount achieved in 2021, the group's earnings statement revealed.

The dollar slid on Thursday after the US Federal Reserve said it had turned a corner in the fight against inflation, giving markets a boost in confidence that the end of the central bank's rate-hike campaign was near.

With inflation pressure appearing to relent somewhat across the world, some economists are more optimistic about 2023 being a year of global recovery, with Indonesia’s strong fiscal position giving the country an edge.

Most Asian markets rose Thursday and the dollar weakened further on hopes the Federal Reserve's campaign of interest rate hikes could be close to an end after it acknowledged progress in its long-running battle against inflation.

Analysts expect the global shift to renewable energy and technical problems to pose key challenges as the government scouts for investors to develop oil and gas blocks in Natuna, Riau Islands.