Indonesian Political, Business & Finance News

Archive: 12 November 2026

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Briber of Former Ombudsman Chief Sentenced to 17 Months in Prison

Laode Sinarwan Oda, owner and director of PT Toshida Indonesia, has been sentenced to 17 months in prison and fined Rp100 million for bribing former Ombudsman chairman Hery Susanto. The court found that the Rp1.5 billion payment was intended to influence an Ombudsman finding concerning the company’s forest-area use levy; prosecutors had sought a two-year sentence.

Unpatti prepares facilities for alumni seeking work overseas

Universitas Pattimura (Unpatti) is developing a Migrant Center to provide information, skills development and support for students and graduates pursuing work abroad. The initiative, agreed with the Ministry of Migrant Worker Protection, aims to help young people in Maluku access international jobs with the necessary skills, certification and knowledge of their rights.

Jokowi: Political Dynamics Are Normal; We Continue to Support President Prabowo’s Programmes

Former president Joko Widodo said political shifts surrounding Vice-President Gibran Rakabuming Raka are normal and reminded him that public office is temporary. Jokowi said the developments would not affect his continued support for President Prabowo Subianto’s government, particularly its programmes serving the public interest.

Yusril: Gibran’s Equivalency Certificate Has Been Revoked, with No Further Legal Recourse

Coordinating Minister Yusril Ihza Mahendra says the Education Ministry has revoked Vice-President Gibran Rakabuming Raka’s 2019 certificate recognising the equivalence of his education, implementing a final Supreme Court ruling. Yusril says no further legal avenue is available to preserve the certificate and argues that its cancellation raises questions about Gibran’s constitutional educational qualifications for office; a related Jakarta Administrative Court case may also lose its subject matter.

MPR to Send Letter Asking Prabowo to Submit Two Names for Gibran’s Replacement

The People’s Consultative Assembly (MPR) says President Prabowo Subianto must submit two vice-presidential candidates within 14 days of receiving its formal request. The MPR has 60 days to complete the process of selecting a definitive replacement for Gibran Rakabuming Raka, whose resignation it is beginning to process.

Russian Ambassador to the US Dies Suddenly

Alexander Darchiev, Russia’s ambassador to the United States, has died in Moscow at the age of 66, after around 18 months in the post. Neither Moscow nor Washington provided details about the cause of death; Darchiev previously served as Russia’s ambassador to Canada and was a specialist in US-Russian relations.

Breaking: Gibran Resigns; Replacement Vice-President to Be Chosen Within 60 Days

MPR Speaker Ahmad Muzani says he has formally received Vice-President Gibran Rakabuming Raka’s resignation letter and that the legislature will begin processing it immediately. Under the Constitution, the MPR has up to 60 days from the resignation to select a permanent replacement.

Gibran Formally Submits Resignation as Vice-President to the MPR

Vice-President Gibran Rakabuming Raka has submitted a letter resigning from office to the leadership of the People’s Consultative Assembly (MPR). MPR Speaker Ahmad Muzani said Gibran had also sent the letter to President Prabowo Subianto and asked for it to be processed promptly.

Police Chief Orders Criminal Investigation Chief and Regional Police Chiefs to Crack Down on Labour Brokers

National Police Chief Suyudi Ario Seto has ordered police across Indonesia to act firmly against labour brokers and illegal recruitment fees, following the launch of the Police Concern for the Unemployed (Poliran) programme in Bandung. The initiative provides channels for jobseekers to report extortion and aims to bring police, government and business together to widen access to work while protecting recruitment from illicit charges.

Gibran Asks MPR to Process His Resignation as Vice-President Promptly

Gibran Rakabuming Raka has formally submitted his resignation as Vice-President to the People’s Consultative Assembly (MPR) and asked it to act quickly. MPR chair Ahmad Muzani said the assembly would begin deliberations and has up to 60 days to select a permanent replacement.

Toshida Boss Sentenced to 17 Months in Prison for Bribing Former Ombudsman Chief

PT Toshida Indonesia director Laode Sinarwan Oda has been sentenced to 17 months in prison and fined Rp100 million for paying Rp1.5 billion in bribes linked to an Ombudsman report on the company’s non-tax state revenue obligations. The court found that some of the money reached then Ombudsman member Hery Susanto, while the sentence was slightly lighter than the prosecution’s two-year demand.

OJK Tightens Capital Market Industry Standards, with 192 Securities Firms and Investment Managers Committing to Business Groups

The Financial Services Authority (OJK) says 192 securities firms and investment managers have submitted their chosen business-activity classifications under new 2026 regulations. The reforms set standards for capital, ownership, governance and risk management, with compliance targeted by April 2029, while OJK steps up supervision and enforcement to deter repeated violations.

Vice-President Offers to Resign, Sandiaga Uno Says Indonesia’s Capital Market Has Experience

Sandiaga Uno urged that the political process surrounding Vice-President Gibran Rakabuming Raka’s reported resignation proceed smoothly, saying this could ease uncertainty among investors. He noted that Indonesia’s capital market had weathered a comparable political transition in 2004, while cautioning that political outcomes are never certain.

Jokowi on Gibran’s Resignation as Vice-President: ‘The Position Is Only Temporary’

Former president Joko Widodo says his son, Vice-President Gibran Rakabuming Raka, had discussed plans to resign with him. Jokowi said political positions are temporary and urged Gibran to continue supporting President Prabowo Subianto’s programmes, particularly those serving the public interest.

Danantara Restructures Danareksa’s Business, Consolidating 23 Industrial Estates

Danantara is restructuring state-owned Danareksa, separating industrial-estate management from investment management and converting the former multisector holding company into PT Kawasan Industri Indonesia. The move consolidates 23 industrial estates under the new entity, while Danareksa Investments—formed from the merger of four state-owned investment managers—will manage assets of about Rp172.5 trillion and aims to double that figure within three years.

Ahmad Muzani: Gibran Asks MPR to Process Resignation Letter Promptly

Vice-President Gibran Rakabuming Raka has formally submitted his resignation to the MPR and asked the assembly to process it promptly. MPR chairman Ahmad Muzani said lawmakers would meet to determine next steps, noting that the constitution allows up to 60 days to prepare the process for selecting a permanent vice-president.

Competitive tourism development must be based on accurate data

The Tourism Ministry says effective, competitive tourism development depends on accurate, comprehensive and up-to-date statistics to guide policy and programmes. The ministry ranked third in the 2026 Anindhita Wistara Data awards, recognising its work on quality sectoral statistics, while Indonesia’s statistics chief stressed the role of data maturity in national development planning.

Gibran Would Still Receive Pension, Allowances and a Residence After Resigning as Vice-President

Gibran Rakabuming Raka has submitted his resignation as Indonesia’s vice-president before the end of his 2024–2029 term. Under Law No. 7 of 1978, a vice-president who leaves office honourably remains entitled to a pension equal to 100% of their final basic salary, along with allowances, household and healthcare costs, a residence and a state vehicle.

Gibran Officially Resigns as Vice-President; MPR Receives Letter

MPR chairman Ahmad Muzani says Vice-President Gibran Rakabuming Raka has submitted a resignation letter to the MPR and asked it to process the request, after also sending a letter to President Prabowo Subianto. The reported resignation follows political controversy linked to questions about Gibran’s educational credentials and his efforts to pursue the matter through the State Administrative Court and Supreme Court.

Gibran Meets MPR Leaders Amid Reports of His Resignation

Vice-President Gibran Rakabuming Raka met leaders of the People’s Consultative Assembly (MPR) after talks with President Prabowo Subianto, amid reports that he had submitted his resignation. The article reports the timing and circumstances of the meetings but does not confirm that the resignation has been accepted or formally finalised.

Flooding in Pidie Jaya spreads to 48 villages

Flooding in Pidie Jaya, Aceh, has spread from 39 to 48 villages across five sub-districts, affecting 8,608 families. Heavy rain caused rivers to overflow and emergency embankments to fail, prompting authorities to deploy heavy equipment and distribute food aid.

Klungkung Deputy Regent Directs Jembatan Merah Vendors to Sell at Car-Free Day

Klungkung Deputy Regent Tjokorda Gde Surya Putra has urged street vendors at the Jembatan Merah area of the Bali Cultural Centre to relocate while the site is temporarily closed for further construction. He suggested the Klungkung Car-Free Day event as an alternative, where the event will be expanded to accommodate more micro, small and medium-sized businesses and vendors will not be charged.

IABI: Flooding and Extreme Rain Can Occur During El Niño

The Indonesian Disaster Experts Association (IABI) has warned that El Niño does not rule out localised extreme rain, flooding and other hydrometeorological hazards. It urged the public to follow BMKG alerts and take practical steps to reduce risks from strong winds, heavy rain and saturated ground.

Gibran leaves Senayan immediately after meeting MPR leaders

Vice-President Gibran Rakabuming Raka left Parliament shortly after meeting the leaders of the People’s Consultative Assembly (MPR), amid reports that he may resign. MPR Speaker Ahmad Muzani said Gibran had come to deliver news, but declined to speculate about the resignation reports before hearing directly from him.

Global powers head to Asia with trade, AI and security in focus

Leaders from major powers are gathering for ASEAN, Francophonie and APEC summits, with trade, artificial intelligence safeguards and security expected to dominate discussions. Prospects appear limited for breakthroughs on arms control, the South China Sea Code of Conduct or trade tensions, while the meetings’ symbolism and diplomacy will draw close attention.

Malaysia’s KWAP Loses Rp893 Billion in eFishery Fraud Scandal

Malaysia’s government pension fund KWAP invested nearly RM200 million (Rp893 billion) in Indonesian agritech start-up eFishery, whose management is accused of manipulating financial statements. Prime Minister Anwar Ibrahim says investors are pursuing legal action to recover funds, while an internal audit has been completed; the company’s former chief executive has received a nine-year prison sentence.

BPOLBF Improves Service and Culinary Standards for MSMEs in Labuan Bajo

The Labuan Bajo Flores Tourism Authority is training 16 micro, small and medium-sized enterprises at Pasir Panjang Beach in Golo Mori to improve customer service, hygiene and seafood cooking. The programme aims to help local businesses benefit from tourism growth while strengthening the destination’s competitiveness, with equipment support and follow-up monitoring also planned.

IHSG Surges 2% Despite Reports of Vice-President Gibran’s Resignation: Analysts Explain Why

Indonesia’s benchmark Jakarta Composite Index (IHSG) rose 2% to 5,217.39 by 11.20am on Thursday, even as reports circulated about Vice-President Gibran Rakabuming Raka’s resignation. Analysts said the political news had not yet raised concerns about government continuity or economic policy, while easing foreign selling and gains in energy, technology and industrial shares supported the market.

UGM Forms Fact-Finding Team to Investigate Alleged Violence During Jogja Demo Clashes

Universitas Gadjah Mada (UGM) is initiating a joint fact-finding team with other universities to investigate clashes during a demonstration in Yogyakarta and allegations of violence during its dispersal. The university says the inquiry should be independent and evidence-based, while offering support to affected students; it is not yet clear whether the team will operate alongside or within a separate initiative planned by the Yogyakarta police.

Young People Looking to Buy a Home? Explore BRI’s Youth Mortgage Interest Rate Options

BRI’s KPR Pemuda programme offers home-loan interest options for borrowers aged up to 35, alongside selected fee waivers and insurance discounts. Available nationwide from 27 October to 30 November 2026, the promotion includes fixed, tiered and fixed-for-the-entire-term rates; prospective borrowers are advised to assess affordability and understand how rates may change over the loan period.

Gibran Leaves MPR Leadership Room After Submitting Resignation Letter, Immediately Surrounded by Journalists

Vice-President Gibran Rakabuming Raka left the MPR leadership room in Jakarta after submitting a resignation letter on 12 November 2026, but declined to comment to reporters. He was reported to be planning a press conference to explain his visit and provide an update on the letter.

Just 20 Minutes: Gibran Submits Resignation to the MPR, Then Leaves

Vice-President Gibran Rakabuming Raka formally submitted a resignation letter to the People’s Consultative Assembly (MPR) after a brief visit lasting around 20 minutes. He had met President Prabowo Subianto at Merdeka Palace earlier that morning.

Gibran Arrives at MPR in Suit and Tie, Carrying a Folder

Vice-President Gibran Rakabuming Raka arrived at the parliamentary complex and submitted a resignation letter to the MPR leadership, according to House Speaker Ahmad Muzani. The move comes amid an effort by MPs from eight factions to launch a formal parliamentary opinion process over questions about the educational documents Gibran used to qualify for the 2024 presidential election.

Oceanpayment to Unveil OP Link for Cross-Border QR Payments at SFF 2026

Oceanpayment will introduce OP Link, a service connecting local digital wallets to QR payment acceptance networks across markets, at the Singapore FinTech Festival from 18 to 20 November 2026. The offering supports transaction routing, currency conversion, clearing coordination and settlement, as the company seeks to make local payment methods more usable for consumers abroad and support cross-border commerce.

Jokowi’s Message to Gibran: Positions Are Temporary

Former president Joko Widodo said vice-president Gibran Rakabuming Raka should remember that public office is temporary and continue supporting President Prabowo Subianto’s government. The remarks came as Gibran reportedly submitted a letter of resignation to the People’s Consultative Assembly (MPR), though the article provides no further details about the resignation.

Gibran Resigns; Jokowi Says He Will Continue to Support Prabowo Government

Vice-President Gibran Rakabuming Raka has submitted his resignation to the People’s Consultative Assembly (MPR), while former president Joko Widodo says he will continue to back President Prabowo Subianto’s administration. Jokowi described political changes as normal and said he had reminded his son that public office is temporary.

Breaking News: Gibran Decides to Resign as Vice-President

Vice-President Gibran Rakabuming Raka has reportedly submitted his resignation to the leadership of the People’s Consultative Assembly (MPR), amid strong political pressure in the House of Representatives. MPR chairman Ahmad Muzani said the assembly would meet to consider the letter, after Gibran had previously said he would continue his legal efforts over the controversy.

Vice-President Gibran Officially Submits Resignation to MPR

Gibran Rakabuming Raka has formally submitted his resignation as Indonesia’s vice-president to the People’s Consultative Assembly (MPR), following the cancellation of his high-school certificate equivalency and moves by MPs to initiate impeachment proceedings. The MPR is expected to convene a special session to declare the office vacant and, under constitutional rules, oversee the election of a successor from two candidates nominated by the president.

Envision green ammonia successfully fuels the world’s first VLAC

Envision says it has supplied green ammonia to the Terra Clove, the world’s first very large ammonia carrier equipped with dual-fuel ammonia propulsion, completing a value chain from production through maritime transport to use as marine fuel. The fuel comes from its Inner Mongolia facility, which currently produces 320,000 tonnes annually, and the milestone highlights ammonia’s potential role in reducing shipping emissions.

Bank Mandiri Taspen Holds Colorectal Cancer Screening for Retired Customers

Bank Mandiri Taspen has provided free colorectal cancer screening and digestive-health education to 150 retired customers and their families in North Jakarta. The Mantap Peduli initiative aims to encourage early detection and healthier habits among retirees.

Government Sets October ICP at US$117.24 a Barrel, November Price Forecast to Ease

Indonesia set its October 2026 Indonesian Crude Price (ICP) at US$117.24 a barrel, up US$4.43 from September, as geopolitical tensions, supply-route risks and tight global inventories lifted international benchmarks. The ICP is forecast to soften to US$103.94–US$108.94 a barrel in November, although market risks remain subject to geopolitical developments and supply conditions.

Manado Immigration Finds No Violations by Three Chinese Nationals

Manado immigration officials said checks found no immigration violations by three Chinese nationals, who had left Indonesia on 9 October 2026. The office had received no request from law enforcement to stop their departure, while the investigation into alleged gold smuggling remains with the relevant agencies.

Gibran to submit vice-presidential resignation letter to MPR on Thursday

DPR Commission III chair Habiburokhman said Gibran Rakabuming Raka would submit his resignation letter to the MPR at 11 a.m. on Thursday, although MPR Speaker Ahmad Muzani said he had not yet received it. The announcement comes as 120 lawmakers prepare to propose invoking parliament’s right to express an opinion on Gibran, a motion that could lead to his impeachment over questions about his education credentials.

Prabowo Wiretapping Case Still Unresolved as Former National Police Chief Listyo Sigit Faces Allegation of Treason

Indonesia’s National Police say an investigation has found sufficient preliminary evidence to open a separate police report into alleged treason involving former police chief Listyo Sigit Prabowo. No suspects have been named, and the case remains at the inquiry stage as investigators gather evidence and urge the public not to circulate unverified claims.

Gibran Arrives at MPR Wearing a Red Tie and Carrying a White Folder

Vice-President Gibran Rakabuming Raka arrived at the parliamentary complex in Jakarta at around 11.15am on Thursday. He wore a black suit with a red tie and carried a white folder as he greeted reporters.

Jokowi: I Have Reminded Gibran That the Position Is Temporary

Joko Widodo said political dynamics are normal and that he had reminded Gibran Rakabuming Raka that public office is temporary. Gibran was reported to be submitting his resignation as vice-president to the MPR, after meeting President Prabowo Subianto, while Jokowi urged continued support for the government’s programmes serving the public interest.

Comparing Vietnam’s Efficiency, Luthfi Urges Ministry to Take Action

Central Java Governor Ahmad Luthfi has urged the Investment and Downstreaming Ministry to expedite permits for 12 proposed industrial estates, citing Vietnam’s two-month approval process compared with Indonesia’s potential two-year wait. Deputy Minister Todotua Pasaribu pledged that complete permits would be processed within 30 days, as the province works to attract investment through new industrial sites and supporting logistics infrastructure.

XTEP opens Johor Bahru flagship store and backs youth sports development

XTEP International has opened a 600-square-metre premium running flagship in Johor Bahru, its latest investment in Malaysia, and plans two more stores in Kuala Lumpur and Putrajaya. The company also donated RM20,000 worth of sports gear to Johor’s state sports council and is expanding partnerships with local running communities to support grassroots athletes and grow its regional business.

National Police Chief outlines five stages in alleged illegal wiretapping case

National Police Chief Suyudi Ario Seto has outlined five stages allegedly involved in a case of illegal wiretapping, unlawful access and electronic data deletion, naming four suspects. He said the alleged process included an unauthorised order and system provisioning, interception and reporting, followed by data deletion; investigators also identified a separate internal route that bypassed formal legal safeguards.

DPR Urges Police Chief Suyudi to Hold Listyo Sigit’s Ethics Hearing This Week; Safaruddin Calls for Four Generals to Face the Death Penalty

PDI-P lawmaker Safaruddin has urged National Police Chief Suyudi Ario Seto to convene an ethics hearing for former police chief Listyo Sigit Prabowo over alleged illegal surveillance of President Prabowo Subianto. Safaruddin argued that the alleged surveillance, alongside other activities, could constitute preparations to overthrow the president under the new Criminal Code, and called for four generals to receive the death penalty.