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

Regulations premium

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

Then-Inalum president director Budi Gunadi Sadikin speaks to the press at his office in South Jakarta on July 17, 2018.

Regulations premium

Health Minister Budi seeks to curb outbound medical tourism

Indonesians spend hundreds of millions of US dollars a year in medical treatment abroad, according to a 2009 estimate. The country wants to bring that spending home.

3 years ago

A sign of the World Health Organization is photographed in the late hours of Aug. 17, 2020, at the organization’s headquarters in Geneva, Switzerland.

Regulations premium

WHO urges Indonesia-led G20 to tackle pandemic funding gap

The World Health Organization has asked the Group of Twenty (G20) forum currently chaired by Indonesia to address a shortage of funds for the COVID-19 response.

3 years ago

Visitors tour Sikidang crater at Dieng Plateau in Banjarnegara, Central Java, on Nov. 27, 2021. In collaboration with private
company PT Geo Dipa Energi, the local administration is developing the area into an educational geothermal tourist destination.

Regulations premium

Low tariffs still hinder geothermal power growth in Indonesia

The recent launch of a state-funded well drilling program helps address the issue of high upstream investment costs, but the low tariffs remain a disincentive.

3 years ago

Regulations premium

Indonesia now allows multi-vote shares to spur tech IPOs

The Financial Services Authority (OJK) now allows multiple voting shares (MVS), but that alone is not sufficient to get more start-ups to list in Indonesia, experts say.

3 years ago

Finance Minister Sri Mulyani Indrawati explains the Harmonized Tax Law (HPP) to the public and business associations in Nusa Dua, Bali, on Nov. 19.

Regulations premium

House passes law on regional fiscal management

The House of Representatives approved a bill on Tuesday to overhaul regional budget management, which it has deemed inefficient in both spending and revenue collection.

3 years ago

Bank Indonesia (BI) and the Indonesian Ulema Council (MUI) have cautioned against using cryptocurrencies as a form of payment, while the Trade Ministry plans to develop a local exchange for the digital assets.

Regulations premium

Indonesia tightens grip on crypto as assets catch on

Bank Indonesia (BI) and the Indonesian Ulema Council (MUI) have cautioned against using cryptocurrencies as a form of payment, while the Trade Ministry plans to develop a local exchange for the digital assets.

3 years ago

Indonesian labor unions march toward the Presidential Palace during a strike to protest against the government's proposed labor reforms in Jakarta on Oct. 8, 2020.

Regulations premium

Workers plan five-day strike nationwide over wages

Massive industrial action in Jakarta planned on Wednesday, unions say.

3 years ago

Illustration of an electronic duty stamp (e-materai).The Finance Ministry released e-materai on Oct.1

Regulations premium

Peruri gets with the times as it rolls out electronic duty stamps

The government wants more people and businesses to use electric duty stamps (e-meterai) as the use of digital documents rises amid the pandemic.

3 years ago

A Chinese bank employee counts 100-yuan notes and US dollar bills at a bank counter in Nantong in China's eastern Jiangsu province on August 6, 2019.

Regulations

US closely monitoring China, Switzerland currency policies

While no country was accused of manipulating its currency to gain a competitive advantage, 12, including China, were put on Washington's monitoring list.

3 years ago

A man pedals a bike past a housing complex built by Chinese property developer Evergrande in Beijing on October 25, 2021.

Regulations

China's Guangdong summons Evergrande boss after debt repayment warning

Evergrande, once China's top-selling developer, is grappling with more than $300 billion in liabilities, fueling fears of a potential collapse that could send shockwaves through the country's property sector and beyond.

3 years ago

Regulations

China unveils new rules on ride-hailing drivers' rights

They should also not be "induced to work overtime" by chalking up orders to meet targets, the statement said, but it did not give specifics on what counted as overtime or adequate break times.

3 years ago

A migrant worker shows the MyMA app in his dormitory, amid the coronavirus disease (COVID-19) outbreak in Singapore May 15, 2020. The app caters to the needs of migrant workers and domestic helpers in Singapore. It provides news updates, electronic remittance, monitoring of daily temperatures and streaming of movies in Hindi and Bengali.

Regulations

Sri Lanka clamps down on remittances as it battles forex crisis

The pandemic has wreaked havoc on the island's economy, and the government has banned imports of food, vehicles and other items in an effort to shore up its stockpile of foreign currency.

3 years ago

A worker checks the new 200 euro bills during the printing procedure in the Bank of Italy’s high-security factory in Rome, Italy.

Regulations

EU fines major banks 344m euros over forex cartel

These fines brought to an end the third part of an investigation that has been ongoing since 2013 and which had already resulted in more than one billion euros in fines in 2019.

3 years ago

State-Owned Enterprises Minister Erick Thohir (facing camera, front left), Deputy Minister Kartika “Tiko” Wirjoatmodjo (center) and ministry spokesman Arya Sinulingga attend a meeting with lawmakers at the House of Representatives complex in Jakarta in December 2019.

Regulations premium

Govt to privatize SOEs with less than Rp50b revenue

State-Owned Enterprises (SOE) Minister Erick Thohir said many SOEs did not run their business in an optimal way.

3 years ago

The Apple Air Tag during a special event at Apple Park in Cupertino, California.

Regulations premium

Italy hits Amazon, Apple, Google with antitrust fine

The aim had been to restrict the number of retailers and limit cross-border sales.

3 years ago

American Airlines flight 718, the first US Boeing 737 MAX commercial flight since regulators lifted a 20-month grounding in November, lands at LaGuardia airport in New York, U.S. Dec.29, 2020

Regulations

China gives long-awaited approval to Boeing 737 MAX after crashes

The move by the Civil Aviation Administration of China (CAAC) sets the stage for the jet to return to airline schedules in the country in 2022, following months of negotiations between Beijing and Boeing.

3 years ago

Workers stage a protest in front of the House of Representatives compound in Senayan, Central Jakarta, on Aug. 25, 2020.

Regulations premium

Labor, business tense up over minimum wages, court ruling

The aftermath of a recent Constitutional Court ruling has brought to the fore uneasy industrial relations in the country.

3 years ago

President Joko “Jokowi” Widodo (center), Defense Minister Prabowo Subianto (right) and Public Works and Housing Minister Basuki Hadimuljono (left) discuss the government's plan to build a road to connect the Balikpapan-Samarinda toll road with the planned new capital city in this undated photograph.

Regulations premium

EU firms want RE law before investing in Indonesia: EU ambassador

European companies are keen on investing in “smart and green” projects in Indonesia’s new capital but are waiting for fair rules, says the EU ambassador to Indonesia.

3 years ago

Vietnamese fishing vessels allegedly used for illegal fishing are sunk in waters near Datuk Island, West Kalimantan, in May 2019.

Regulations premium

Govt to offer investors fishing quotas worth $7.7B in 2022

By granting investors commercial fishing rights worth more than $7 billion annually starting next year, the country seeks to turn fisheries into a driver of the economy.

3 years ago

A smartphone is being operated in front of the logos of Google, Apple, Facebook and Amazon as a background in Hédé-Bazouges, western France, on Sept. 28, 2017.

Regulations premium

Big Tech in Indonesia may start paying news firms for content

Media groups are pushing for the regulation, inspired by Australia's News Media Bargaining Code passed in February.

3 years ago

The Financial Services Authority (OJK) has announced a planned revision of rules for online peer-to-peer (P2P) lending that will tighten company establishment requirements.

Regulations premium

OJK to tighten P2P lending regulations

The Financial Services Authority (OJK) plans stricter rules for peer-to-peer (P2P) lenders.

3 years ago

Fishermen sail past as smoke rises from the chimneys of the Suralaya coal-fired power plant in Cilegon, Banten, in this undated photo.

Regulations premium

New energy technology ‘too risky’ to pave way to net-zero target

Indonesia is banking on new energy technologies to meet its carbon emission goals while keeping coal power plants running, but experts say that plan is risky given a range of uncertainties.

3 years ago

President Joko 'Jokowi' Widodo speaks at the Kompas100 CEO Forum on Nov. 18.

Regulations premium

Jokowi vows to ‘fight in any way’ EU lawsuit over nickel export ban

The President’s comment comes after the EU requested in January that the WTO form a panel to adjudicate the case, following failed consultations between representatives of Indonesia and the EU.

3 years ago

Communications and Information Minister Johnny G. Plate during a meeting with the House of Representatives in Jakarta on Oct. 16, 2021.

Regulations premium

Analog TV phase out in progress, says ICT Minister

The migration from analog to digital TV is expected to be finished on schedule in November 2022.

3 years ago

Priorities: A protester holds a sign that reads “Overcome the virus, withdraw the omnibus [law]” during a protest last year outside the House of Representatives in Senayan, Central Jakarta.

Regulations premium

Unions plan protests as minimum wage hike disappoints

Unions had proposed wage hikes of between 5 and 20 percent, but were let down by the Manpower Ministry's recent announcement that wages would be raised by an average 1.09 percent nationwide, as per prevailing regulations.

3 years ago