Economists believe the new mandate might open the door for political intervention and declining independence of the monetary authority.

As the rupiah plummeted to a historic low against the dollar, the House gave the green light for a legislative amendment that has raised alarm bells over central bank independence.

The trade agency said it would impose additional duties of 12.5 percent on the remaining 45 countries that it investigated.

Coordinating Economy Minister Airlangga Hartarto announced in a press conference on Sunday that a seven-month transition phase will run from June 1 to Dec. 31, while exporting companies will continue to execute their regular shipping activities. 

The government and the House of Representatives are scrambling to pass a bill that will give Bank Indonesia (BI) a new mandate on job creation, which economists say could weaken the central bank’s independence.

Transportation expenses consume up to 40 percent of household income. 

The unexpected guidance suggests the United States' best AI chips may have been making their way to the subsidiaries of Chinese AI firms based in places like Malaysia.

The government’s work-from-home policy introduced to minimize subsidized fuel usage amid skyrocketing oil prices has substantially reduced nationwide consumption.

Fitch Ratings, ​among two rating agencies that cut Indonesia's credit rating outlook this year, ⁠has cited potential changes to the fiscal and debt limits in state finance ​laws as factors in their outlook revisions.

According to the Tourism Ministry, of 470,000 accommodations listed on nine online travel agents platforms, only around 31,000 accommodations are listed with a verified business registration number (NIB). 

E5 rollout will be concentrated in key high-consumption regions: East Java, Jakarta, West Java, Banten, Central Java and Yogyakarta.

Under the Agreement on Reciprocal Trade (ART) with the United States signed on Feb. 19, Indonesia agreed to exempt US investors from a regulation requiring natural resource exporters to keep their earnings in Indonesia for a certain duration.  

The new policy signals a shift toward tighter state control over trade, and experts warn that, if not implemented carefully, it could undermine the goal stated by the government, which is to boost state revenue collection by preventing invoicing fraud.

Speaking before the House of Representatives’ plenary on Wednesday, President Prabowo Subianto announced that exports of certain commodities will eventually be conducted through a single SOE.

Speaking before the House of Representatives’ plenary on Wednesday, Prabowo said the policy was aimed at curbing under invoicing and transfer pricing, in which exporters underreport shipment volumes to reduce tax obligations.

The full force of the new policy will come into effect after a transition period that has been set at three months but can be extended to the end of the year.

Bank Indonesia (BI) has increased its benchmark interest rate by 50 basis points (bps) to stabilize the rupiah, blaming the recent depreciation of the Indonesian currency on external pressure.

In a letter earlier ​this month to President Prabowo Subianto, copied to ​China’s ⁠embassy and seen by Reuters, the China Chamber of Commerce in Indonesia said ⁠Chinese ​firms faced "excessively stringent regulation, ​over-enforcement", and alleged corruption and extortion by authorities.

Analysts say a decision by state asset fund Danantara not to make its financial reports public will hurt investor confidence.

Dian Ediana Rae, OJK’s chief executive for banking supervision, stated that while the program aims to expand public access to financing, the implementation must align with banks’ risk appetite and institutional expertise.

The statement came as the rupiah continued to face pressure, exceeding Rp 17,500 per US dollar and raising concerns over higher prices for imported food commodities, including soybeans, wheat, raw sugar and garlic.

The China Chamber of Commerce in Indonesia (CCCI) previously sent a letter to President Prabowo Subianto, detailing a range of complaints, from the mandatory retention of foreign exchange earnings (DHE) onshore to a recent crackdown on immigration.

Indonesia started banning social media for children under 16 in March, when the communications ministry named eight platforms that must comply with new rules.

President Prabowo Subianto had mandated the government to extend the repayment period from 30 to 40 years to ease homebuyers’ installment burden.

The closure of steelmaker PT Krakatau Osaka Steel (KOS) has sparked fears that Indonesia’s steel industry crisis is deepening, undermining the government’s self-sufficiency push in the strategic sector.

The government believes that climbing commodity prices have created windfall profits for mining companies, requiring an adjustment to the state's revenue share.

Indonesia has held two tax amnesties, in 2016 and 2022, the first of which was initiated on the fallout from the Panama Papers leak that revealed data on individuals holding assets offshore, many in tax haven countries.

In Barma Baru village, Meyado district, Teluk Bintuni regency, West Papua, change is evident. TK Negeri Barma Baru, a kindergarten that for years had to endure a cramped, plywood-partitioned space, now stands in a more suitable building with much more adequate facilities.

Though the finance minister did not specify which countries would be exempted from the latest forex earnings rule, set to enter into force on June 1, this may apply to the US under the terms of the ART.

State takeovers, interventions and investments in the private sector as part of a broader policy direction have met with mixed reception, with some cautioning that potential overreach could dampen investor sentiment and the business climate.