Bank Indonesia's logo is seen at its headquarters in Jakarta in January 2019.

BI holds rate, sees little exposure to US banking woes

The central bank governor says Indonesia’s banking sector has sufficient liquidity, but a negative perception of global investors may become a risk.

2 years ago

Regulations premium

Govt ready to import 500,000 more tonnes of rice ‘if needed’

The announcement comes despite the government having brought 500,000 tonnes of rice into the country since December. ...

2 years ago

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Jokowi wants local governments to ditch Visa, Mastercard

President Jokowi said that the war in Ukraine with the attendant economic sanctions imposed by the United States could create problems as economic tools, including payment systems, could be used against countries perceived to have any involvement in the conflict. ...

2 years ago

The Latest

The Tayan bauxite mine in Sanggau, West Kalimantan, operated by state-owned metal miner PT Aneka Tambang (Antam).

Regulations premium

Jokowi wants to speed up bauxite export ban

The move is expected to spur commodity downstreaming in industrializing Indonesia.

3 years ago

Coal is unloaded from a barge at the Suralaya coal power plant in Cilegon, Banten, on Sept. 22 last year. The government banned coal exports starting Jan. 1 this year to address fuel shortages in 20 power plants.

Regulations

Philippines urges Indonesia to lift coal export ban as talks proceed

Pressure is building both at home and abroad for Indonesia to lift the ban.

3 years ago

Virtual summit: Leaders of ASEAN and its strategic partners are seen on a screen as they attend the fourth Regional Comprehensive Economic Partnership Summit as part of the 37th ASEAN Summit held online from Hanoi on Nov. 15, 2021.

Regulations premium

House stalls passing RCEP over protectionist concerns

Indonesia is the only country that has yet to ratify the Regional Comprehensive Economic Partnership (RCEP), as lawmakers remain concerned that the agreement could be harmful to the domestic economy.

3 years ago

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan speaks at the Army Staff and Command College (Seskoad) in Bandung, West Java, on Nov. 18, 2021.

Regulations premium

PLN’s coal shortage over, ministers say

The domestic supply shortage cited as the reason for the export ban has been resolved, according to government officials.

3 years ago

Precious asset: A forest area near Mount Meratus in South Kalimantan is seen from Hinas Kanan village in this undated photo.

Regulations premium

Jokowi revokes thousands of land permits for mining, forestry, plantation

The government has revoked 2,078 permits for mining, 192 for forestry and 36 for plantations as it seeks to overhaul permit governance.

3 years ago

This photo taken on September 21, 2021 shows village houses as smoke rises from the chimneys at the Suralaya coal power plant in Cilegon, West Java.

Regulations premium

Coal trade in disarray as export ban review delayed

Indonesian authorities postponed a meeting with coal mining companies on Wednesday, leading to disarray on markets as coal miners consider declaring force majeure and scores of ships are moored off the coast.

3 years ago

Coal barges queue to be pulled along Mahakam River in Samarinda, East Kalimantan, on Aug. 31, 2019.

Regulations

Japan urges Indonesia to end coal export ban

China, Japan, South Korea and India are among the biggest markets for Indonesian coal.

3 years ago

A street food vendor uses used cooking oil to fry fish in Jakarta on Oct. 30, 2018.

Regulations premium

Govt to provide cooking oil at Rp 14,000 per liter

The government will set aside Rp 3.6 trillion to provide 1.2 billion liters of cooking oil at Rp 14,000 per liter, lower than the current market price.

3 years ago

A cellphone tower, used for a 5G network, is seen on a street in Beijing, China, on Sept. 24, 2020.

Regulations

Do 5G telecoms pose a threat to airline safety?

Verizon Communications and AT&T agreed on Monday to a two-week delay in using newly acquired wireless spectrum, drawing back from a standoff that threatened to disrupt flights.

3 years ago

A gas station worker serves customers in the West Papua city of Bintuni in April 2019.

Regulations premium

New rules to delay phaseout of subsidized gasoline: Experts

President Joko “Jokowi” Widodo has issued a regulation that experts say will prolong the use of Premium-branded gasoline rather than help the country ditch its dirtiest type of fuel.

3 years ago

Then-CEO of Bukalapak, Rachmat Kaimuddin, delivers a speech at the company's initial public offering (IPO) on Aug. 6, 2021.

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Ex-Bukalapak CEO Rachmat to serve as Luhut advisor

Rachmat Kaimuddin, after stepping down as Bukalapak CEO, is to serve as special advisor to Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan on technology and sustainable development.

3 years ago

The Financial Services Authority (OJK) selection committee headed by Finance Minister Sri Mulyani Indrawati (center, wearing red batik) poses for a photo at the Finance Ministry on Dec. 31, 2021.

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Ombudsman warns of conflict of interest in OJK selection committee

The Indonesian Ombudsman says some members of the selection committee for Financial Services Authority (OJK) positions came from entities under OJK supervision.

3 years ago

Despite a value added tax (VAT) cut in place since March, the housing industry has yet to recover.

Regulations premium

Govt extends VAT cut on new homes but reduces amount

The government has extended through June next year an incentive for property purchases to spur the construction industry but is undecided on a continued tax cut for car purchases.

3 years ago

Grounded Boeing 737 MAX aircraft are seen parked at Grant County International Airport in Washington, the United States.

Regulations premium

Transport ministry lifts ban on Boeing MAX 8 aircraft

The decision ends a 33-month ban on flying the plane in Indonesian airspace.

3 years ago

US President Joe Biden signs the “Accelerating Access to Critical Therapies for ALS Act" in the White House in Washington, DC on Dec 23, the same day he signed the Uyghur Forced Labor Prevention Act.

Regulations

US bans Xinjiang imports, forcing firms to navigate sticky diplomacy

The Uyghur Forced Labor Prevention Act signed Thursday focuses on three products: cotton, tomatoes and polysilicon.

3 years ago

Fish are auctioned on Nov. 19, 2018 at the Pasie Nan Tigo fish market in Padang, West Sumatra.

Regulations

Kadin calls for local protection under 2022 fishing policy

The nation's trade board has urged the government to protect local businesses by requiring foreign-local partnerships in the upcoming fishing licensing scheme.

3 years ago

Solar panels are installed on land controlled by Pertamina near the oil and gas company’s refinery in Cilacap, Central Java, in this undated photograph.

Regulations premium

Greater political will critical for progress on renewable energy: Experts

An uncertain investment climate and a lack of political commitment might hamper clean energy development in Indonesia next year, a think tank warns.

3 years ago

A man studies a flight information board at Soekarno-Hatta International Airport in Tangerang, Banten, on Dec. 19, 2021.

Regulations premium

Indonesia restricts entry for foreigners, extends quarantine

Foreigners arriving from Denmark, Norway and the United Kingdom may no longer enter Indonesia, while people arriving from any country could soon face longer quarantine.

3 years ago

The Bugey nuclear power plant in Saint-Vulbas, France, is shown in this file photo taken on April 8, 2016. France is among the EU member countries defending the role of nuclear in the region's energy transition.

Regulations

EU plans to finish green investment rules for gas, nuclear next year

The bloc is considering whether to include nuclear and natural gas in its "sustainable finance taxonomy", a rulebook that will restrict which activities can be labelled as climate-friendly investments.

3 years ago

A cyclist working for a delivery company rides on an empty road downtown Rotterdam on December 19, 2021, on the first day of The Netherlands' "lockdown" to contain the spread of the Omicron variant of COVID-19.

Regulations

Omicron's global spread prompts renewed lockdowns, delayed reopenings

Countries in Asia-Pacific and Europe have imposed fresh curbs to contain the more transmissible variant of COVID-19.

3 years ago

Stock illustration of cryptocurrency bitcoin

Regulations premium

Crypto exchanges seek new horizons in NFTs, lending

Local cryptocurrency exchanges are looking to expand their services to offering nonfungible tokens (NFT) and crypto lending after crypto assets gained traction in 2020.

3 years ago

Workers stage a rally in front of the House of Representatives in Senayan, Jakarta, on Aug. 25 to express their opposition to the Job Creation Law and to call on the government to do more to prevent mass layoffs during the COVID-19 pandemic. JP/Seto Wardhana

Regulations premium

Workers, employers escalate threats after Jakarta wage hike

Tensions between businesses and workers are high two days after Jakarta Governor Anies Baswedan announced a higher regional minimum wage than previously set, with neither side looking keen to yield.

3 years ago

Visitors are seen inside 'The Glass House' at the Quranic Park in Dubai, United Arab Emirates (UAE), on April 6, 2019.

Regulations

Global banks in UAE to switch to Monday-Friday work week

The switch comes as the UAE, a country warming up to Indonesia, seeks to better align with global markets.

3 years ago

United States (US) President Joe Biden gestures as he meets with Chinese President Xi Jinping during a virtual summit from the White House in Washington, US, on Nov. 15.

Regulations

Biden's electric vehicle push hits setback in US Senate

Senator Joe Manchin, a Democrat of West Virginia, opposes a $4,500 tax credit for union-made vehicles.

3 years ago

Lawmakers attend a physical plenary meeting at the House of Representatives building in Senayan, Central Jakarta, on Sept. 15 last year. The House recently passed a law on the regional fiscal management.

Regulations premium

Explainer: Key takeaways on regional fiscal management law

The law has sparked debate over regional autonomy.

3 years ago

Serving the public: A woman walks past the Papua office of the Financial Services Authority (OJK) in Jayapura on Oct. 27. The OJK has opened branch offices across the country to speed up its services to the public.

Regulations premium

OJK suspends issuance of permits for investment firms

The Financial Services Authority (OJK) has imposed a moratorium on the establishment of investment management companies pending an assessment of the market.

3 years ago

A massive column of hot ash erupts from Mount Semeru on Dec. 4, 2021 as viewed from Lumajang, East Java, in this handout photo from the National Disaster Mitigation Agency (BNPB).

Regulations premium

Govt to inject $210m into 2022 disaster pooled fund

The $209.7 million injection for the disaster pooled fund (PFB) is to be sourced from the 2022 state capital injection budget totaling Rp 182.32 trillion, and is intended for speedier disbursement of emergency funds for disaster relief and recovery.

3 years ago

Trade Minister M. Lutfi (left) hands over a document to House of Representatives Speaker Puan Maharani on April 9, 2021 at the Senayan legislative compound in Jakarta, after lawmakers approved a draft trade bill.

Regulations premium

Govt urges lawmakers to ratify backlogged trade deals

The Trade Ministry has demanded that the legislature immediately pass three international trade deals so they can be enacted to leverage the country’s economic recovery.

3 years ago