Indonesian Political, Business & Finance News

Archive: 12 November 2026

Showing 1,551-1,600 of 1,659 articles

Projo Responds to Panel Barus’ Resignation

Projo says it respects Panel Barus’ decision to leave the organisation, while stressing that its work does not depend on any individual. Barus said he was stepping back from practical politics to focus on his role as Deputy for Cooperative Business Development at the Ministry of Cooperatives, amid a broader pattern of former Jokowi allies in government leaving their political party or organisation posts to concentrate on cabinet duties.

BYD Seeks Assistance, Says Subang Plant Has Hired Thousands

BYD says its Subang factory has employed nearly 6,000 people, around 90% of them Indonesian citizens, as the company faces repeated demonstrations over local hiring. The company is asking government agencies to clarify protesters’ demands and says it needs experienced automotive manufacturing workers as it expands towards a potential workforce of 20,000.

Badung Civil Service Police Propose Rp3.2 Billion for Operational Vehicles

Badung’s Civil Service Police Unit has proposed Rp3.2 billion for five cars and a minibus in its 2027 budget, saying ageing and damaged vehicles are hampering field operations. The proposal has reportedly been cut from annual budgets since 2023, prompting a Badung council member to call for new vehicles for units in all six sub-districts early next year.

Gibran Resignation Rumours: Danantara Reveals Three Ways to Protect Investor Confidence

Danantara CEO Rosan Roeslani says the investment agency is seeking to sustain investor confidence amid domestic political speculation and global uncertainty. Its approach centres on experienced investment managers with strong track records, the credibility of its institution and leadership, and evidence of sound economic and corporate fundamentals.

Watch Senator Menyapa: Fairer Budgets, Better Public Services

The second episode of Senator Menyapa will examine whether transfers from central government to regional administrations are distributed fairly and reliably enough to support public services and balanced development. Representatives of the DPD, the Finance Ministry and East Java’s provincial government will discuss funding adequacy, regional fiscal capacity and possible improvements.

Saudi Arabia Remains on High Alert as Missiles Nearly Strike Mecca and Riyadh

Saudi Arabia says its air defences intercepted missiles and drones directed at Riyadh, Mecca and other areas, while Yemen’s Houthi movement denies targeting Mecca and claims it struck an oil-pumping station in Yanbu. The attacks come amid escalating hostilities, including Houthi claims of retaliation for Saudi military operations in Yemen and increasingly frequent strikes on Saudi infrastructure.

Discovering and Preserving the Besiak Tradition of Sambas’s Coastal Communities

A theatre performance in Pontianak is bringing the Besiak healing tradition of Sambas’s coastal communities to a wider audience, drawing on research in Arung Parak village. Its creators say the work foregrounds social values, respect for nature and ancestral knowledge, while stressing consultation with tradition-bearers and sensitivity to the ritual’s spiritual dimensions.

Three Ways BKPM Is Tackling Investment Barriers in Central Java and Surrounding Regions

Investment in Central Java, Yogyakarta and East Java reached Rp188.59 trillion in January–September 2026, but projects continue to face permitting and readiness obstacles. A new regional investment desk in Semarang will map stalled projects, aim to resolve permitting and industrial-estate issues within 30 days, and monitor implementation and compliance.

Labour-Intensive Industry Loan Disbursement Reaches Just 30% of Target Ahead of Year-End

Disbursement under the government’s Labour-Intensive Industry Credit scheme had reached less than 30% of its Rp600 billion target by November, prompting the government to widen eligibility to include working-capital loans. The government plans to allocate Rp600 billion for the scheme next year, as part of Rp394 trillion in programme credit, most of which will fund the KUR scheme.

Gold Slumps to US$3,900 as Dollar Pounds the Precious Metal

Gold fell 1.12% on Wednesday to US$3,985.62 per troy ounce, extending its two-day decline to 3.7%, as stronger-than-expected US inflation and hawkish Federal Reserve comments lifted the dollar. Markets increased bets on a larger December rate rise, although robust gold buying by China and central banks was cited as a floor for prices.

Police Uncover Scheme to Recruit Indonesians as Russian Mercenaries

Police have named eight suspects in a suspected human trafficking case involving the recruitment of Indonesians to serve as mercenaries in Russia; 23 Indonesians are recorded as victims, and one is reported to have died. Investigators say recruitment began through social media before expanding through local agents and personal networks, while recruits were allegedly sent to the front line and prevented from returning home.

Why Has France Accused Iran of Hacking Supermarket Refrigerators?

France has accused Iran’s Islamic Revolutionary Guard Corps (IRGC) of carrying out unprecedented cyberattacks on supermarket refrigeration systems in October, which caused perishable food to spoil. Tehran denies the allegations, while Paris has summoned Iran’s ambassador, opened a judicial investigation and pledged European sanctions; the EU says it will seek a united response.

After roads reconnect in Sumatra

A year after floods and landslides hit 53 districts and municipalities across Aceh, North Sumatra and West Sumatra, national roads and bridges have largely returned to service, while temporary housing and some agricultural markets have also recovered. The recovery report highlights the next challenge: repairing local infrastructure and heavily damaged farmland, with many remaining tasks concentrated in villages and districts.

16 Banks Shut Down by November 2026: The Complete List

The Financial Services Authority (OJK) had revoked the licences of 16 rural banks by 12 November 2026, most recently PT BPR Agritrans Batumarta in South Sumatra over a capital shortfall. Deposit insurer LPS chief Anggito Abimanyu said weak governance was the main factor behind the banks’ resolution, highlighting ongoing supervisory concerns in the rural banking sector.

MSCI Changes Index Constituents, Removing Two Indonesian Shares from Global Standard

MSCI has removed Barito Pacific and Bumi Resources Minerals from its Global Standard indexes in its November 2026 review, with Bumi Resources Minerals moving to the Global Small Cap category. Seven other Indonesian shares have been dropped from the Small Cap indexes; the changes take effect on 1 December 2026.

Gibran Reportedly Resigns: What Benefits Could He Receive After Leaving Office as Vice-President?

Projo chairman Budi Arie Setiadi says Vice-President Gibran Rakabuming Raka submitted a resignation letter to President Prabowo Subianto on 11 November 2026. The article explains that Indonesian law treats a resignation at one’s own request as an honourable departure, potentially entitling a former vice-president to a pension and other benefits once the resignation takes effect; the supplied text only begins detailing those benefits.

DPR Plenary Session Today to Decide Gibran’s Fate?

Indonesia’s House of Representatives (DPR) is due to hold a plenary session, but its deputy speaker says it is not yet clear whether lawmakers will consider a motion expressing an opinion on Vice-President Gibran Rakabuming Raka. The motion has been proposed by 120 MPs from eight factions amid disputes over the validity of Gibran’s school-leaving documents, while reports that he plans to resign remain unconfirmed by DPR Deputy Speaker Sufmi Dasco Ahmad.

US Dollar Surges as Indonesia Faces MSCI Drama and Gibran Resignation Reports

The US dollar rose to its highest level since April 2025 after hotter-than-expected US inflation strengthened expectations of a Federal Reserve rate rise, putting pressure on the rupiah and other emerging-market assets. Indonesian markets are also watching MSCI index changes, a new high-shareholding-concentration list, energy-block tenders and political uncertainty surrounding reports that Vice-President Gibran Rakabuming Raka intends to resign.

Just Two Years In, Turkish Drone Company Exports 75,000 Units to 30 Countries

Turkish drone maker Skydagger says it has exported about 75,000 kamikaze drones to more than 30 countries since its founding in 2024, while preparing manufacturing facilities in five countries. The company’s reported figures have not been independently verified, but they illustrate the rapid expansion of the market for mass-produced small unmanned aircraft and Turkey’s growing range of drone exporters.

Daihatsu Sigra Wrecked by Crowd After Driver Flees Crash Involving Eight Motorcycles in Sleman

A Daihatsu Sigra was involved in a series of collisions with eight motorcycles across Sleman after its driver allegedly continued driving instead of stopping. Eight people were injured, the car was damaged by an angry crowd after being stopped near a petrol station, and police are investigating while the driver remains unconscious in hospital.

The Lipstick Effect Keeps Indonesians Shopping Online Despite Economic Hardship

Indonesia’s digital economy is forecast to reach US$119 billion in 2026, with e-commerce accounting for US$85 billion as consumers continue to shop despite weaker purchasing power. Google Indonesia says the ‘lipstick effect’—buying small comforts during difficult times—combined with the convenience of online platforms is supporting spending; the report projects the digital economy will grow to US$446 billion by 2035.

PKS Responds to Reports of Gibran’s Resignation as Vice-President: ‘Not Final, We’ll Continue with the HMP’

PKS lawmaker Mardani Ali Sera says the party will continue pursuing parliamentary rights to express an opinion (HMP) on Gibran Rakabuming Raka’s potential impeachment until reports of his resignation are finalised. Gibran is reportedly said to have submitted a resignation letter to President Prabowo Subianto, though the report has not been confirmed as final.

A Mother’s Voice from COP31: The Same Storm, Different Boats

At a Women Leading on Climate event at COP31, Yasmina Hasni reflects on a campaign urging political leaders, businesses, the media and the public to talk about climate change throughout the year. She argues that while climate solutions are advancing, public discussion is waning—and that those with greater resources have a greater responsibility to support communities bearing the harshest impacts.

MSCI Removes BRPT and BRMS, with Seven Other Stocks Also Dropped

MSCI’s November 2026 review removes Barito Pacific (BRPT) and Bumi Resources Minerals (BRMS) from its Global Standard indexes, with BRMS moving to the Small Cap indexes. Seven Indonesian stocks are also dropped from the Small Cap indexes, while no Indonesian shares are added to the Global Standard or changed in the Micro Cap indexes.

Jakarta Provincial Government Urges Building Managers to Improve Energy Efficiency

Jakarta’s provincial government is urging building managers to conserve energy and water to reduce greenhouse gas emissions and support sustainable development. It recommends low-cost operational changes alongside gradual upgrades to HVAC systems, with public-private collaboration helping to broaden adoption without relying on large upfront investments.

Gaza Faces Cold as Israel Holds Up 150,000 Aid Tents

The UN says more than 150,000 tents intended for Gaza are being held outside the territory pending Israeli approval, as heavy rain and flooding leave tens of thousands of families needing assistance. UN officials say winter supplies and essential equipment are urgently needed, and have urged Israel to open all crossings and allow humanitarian organisations to operate without obstruction.

BKPM Speeds Up Permits for 12 New Industrial Estates in Central Java, Promises Completion Within 30 Days

Indonesia’s Investment and Downstreaming Ministry/BKPM says it will issue permits for 12 proposed industrial estates in Central Java within 30 days, as the province recorded Rp72.54 trillion in investment in January–September 2026. Governor Ahmad Luthfi welcomed the investment facilitation desk, saying investment supports economic growth and employment, while the province targets Rp99.09 trillion in investment for the year.

Bomb Threat Scare: Hundreds of Schools Evacuated and Guarded by Police

At least 300 schools across Italy were evacuated after receiving bomb threats that Italy’s education minister believes may be hoaxes; police are investigating, and officials expect the number affected to rise. Similar emails were sent to schools in Northern Ireland, while authorities there said the threat was not credible and kept schools open. Italian officials have linked the incidents to a wider pattern of threats and cyberattacks aimed at public facilities and media outlets in Europe.

Responding to Gibran’s Resignation, Presidential Advisory Council Member Condemns Vice-President’s Move to Meet Prabowo: Is He Trying to Blame the President?

Presidential Advisory Council member and constitutional law expert Margarito Kamis says Vice-President Gibran Rakabuming Raka should address any resignation to the People’s Consultative Assembly (MPR), not President Prabowo Subianto. Kamis also questions why Gibran met Prabowo, while arguing that court rulings and evidence could leave Gibran facing removal proceedings regardless of whether he resigns.

President Prepares Son as Successor, but Party United in Opposition

Uganda’s ruling National Resistance Movement has resisted President Yoweri Museveni’s apparent effort to position his son, army chief Muhoozi Kainerugaba, as his successor, with party figures questioning his readiness and conduct. The dispute poses an unusual challenge to Museveni, who has ruled since 1986, and suggests a family succession plan has yet to win broad support within the party.

BKPM Sets Up Investment Desk in Central Java to Accelerate Projects

Indonesia’s Investment Ministry and BKPM have established a special desk in Semarang to resolve permitting and coordination obstacles for projects worth more than Rp1 trillion, covering Central Java, Yogyakarta and East Java. The move is intended to improve investment certainty and support industrial-area development, as Central Java recorded Rp72.54 trillion in investment in the first nine months of 2026.

MSCI November 2026 Rebalancing: Nine Stocks Dropped, Including BRPT and RAJA

MSCI’s November 2026 review removed BRPT and BRMS from its Global Standard index, while BRMS moved into the Small Cap index and seven other stocks were removed from that segment. The changes take effect after trading closes on 30 November; the published documents do not specify individual stock weight adjustments or estimated trading flows.

North Sumatra Governor Proposes Special Economic Zones at Investment Desk Opening and SimPONI App Launch

North Sumatra Governor Bobby Nasution has proposed special economic zones for healthcare, tourism and food technology, alongside a provincial industrial zone, to attract investment and accelerate regional growth. The proposals were announced as the province opened an investment desk and launched SimPONI, an online platform intended to help investors identify local opportunities.

Pramono: Jakarta’s LPDP Scheme Open to Religious Education

Jakarta Governor Pramono Anung says the city’s LPDP scholarship scheme will also support students from religious schools who wish to pursue religious studies, including overseas. The programme will prioritise applicants from low-income families, provide help with language-test requirements and establish safeguards against interference or fraud; it is due to begin in 2027.

Apple Chooses Türkiye for Its First Manufacturing Academy Outside the US

Apple will open a manufacturing academy in Ankara in 2028, its first such facility outside the United States, offering free training and advice in areas including artificial intelligence, robotics and automation. The initiative forms part of a broader investment in Türkiye’s technology ecosystem and workforce, but is not a plan to move Apple device manufacturing to the country.

Gibran Resignation Reports: Rosan Says Indonesia’s Economic Fundamentals Remain Strong

Danantara chief executive Rosan Roeslani said Indonesia’s economic and state-owned enterprise fundamentals remain strong despite political uncertainty, including reports that Vice-President Gibran Rakabuming Raka has resigned. He pointed to listed companies’ performance and said investor confidence in Danareksa Investment Management Indonesia would depend on its ownership, management experience and governance.

Two People Named as Suspects After Demonstration Turns Violent in Yogyakarta

Police have named two people as suspects following disorder during Heroes’ Day demonstrations in Malioboro, Yogyakarta, and at the UGM roundabout in Sleman. Investigators say the suspects allegedly carried and threw Molotov cocktails; 21 minors detained during the inquiry have been returned to their parents, while police say further suspects may be identified.

Bima Mayor Calls on All Parties to Strengthen Cooperation to Address Local Issues

Bima Mayor H. A. Rahman H. Abidin has called for cross-sector cooperation to tackle challenges including poverty, environmental cleanliness, education, health and public order. He said the newly inaugurated Sultan Muhammad Salahuddin Hall at the Bima Military District Command should also serve as a space for inter-agency coordination and better public services.

After Meeting Prabowo, Dasco Says Gibran’s Resignation Was Not Discussed

Deputy House Speaker Sufmi Dasco Ahmad says he has not seen any resignation letter from Vice-President Gibran Rakabuming Raka and that President Prabowo Subianto did not raise the matter during their meeting. Projo chairman Budi Arie Setiadi, however, had earlier confirmed reports that Gibran had resigned, while parliamentary leaders said they had yet to determine whether the issue would be taken up formally.

Grief Erupts at Funeral for 43 Victims of Saudi Strikes in Yemen

A funeral was held in Sanaa for 43 people reportedly killed in Saudi air strikes on a village near the Yemeni capital, with Houthi-run media saying women and children were among the dead. The reported attack is among the deadliest since fighting between Saudi Arabia and the Iran-aligned Houthis resumed in July, further undermining the UN-mediated 2022 truce.

Gibran Reportedly Submits Resignation Letter; PDI-P: ‘Signals Left, Turns Right’

Vice-President Gibran Rakabuming Raka is reportedly to have submitted his resignation to President Prabowo Subianto, but PDI-P politician Andreas Hugo Parera questioned the claim and suggested it could be a manoeuvre. Projo chairman Budi Arie had previously affirmed that the resignation letter was real, while Gibran himself had not made an announcement.

At Nasdem Party Anniversary Speech, Prabowo Jokes: ‘Perhaps I’m Being Bugged’

President Prabowo Subianto joked about being bugged while speaking at the Nasdem Party’s 15th anniversary event in Jakarta. He also expressed gratitude that Indonesia remained peaceful amid global conflict, while acknowledging people suffering from disasters and hardship across the country; the article notes he was among those previously targeted in an alleged police wiretapping case.

Bima District Court Acquits Activist Badai NTB, Says Defamation Was in the Public Interest

A Bima District Court panel ruled that activist Uswatun Hasanah, known as Badai NTB, committed written defamation using electronic media but released her from all legal charges because her actions served the public interest. The judges cited public concern about drug trafficking in Bima and Dompu and said the prosecutor had not adequately addressed that context.

Danantara Merges Four Investment Managers Without Job Cuts

Danantara says the merger of four state-owned investment management firms into Danareksa Investments will retain all employees, with the combined workforce numbering about 280. The consolidated company has Rp172.5 trillion in assets under management and serves around one million retail investors, as the state investment group aims to expand its investment-management capacity.

XLSMART Promotes 5G Connectivity in Lombok to Boost Productivity and Tourism

XLSMART says its XL Ultra 5G+ service now provides blanket 5G coverage across about 94 per cent of Lombok, supported by nearly 900 5G base stations. The company says the expansion can benefit local businesses, education and tourism, while forming part of a wider network rollout across 80 cities and regencies in Indonesia.

Commentary: Melaka votes, Putrajaya watches as state polls could herald Malaysia’s next general election

Melaka’s state election is being treated as a test of the alliances and political strategies that could shape Malaysia’s next general election, with UMNO-led Barisan Nasional and Perikatan Nasional sharing seats while Pakatan Harapan’s arrangement with Bersatu remains politically sensitive. The results will test Prime Minister Anwar Ibrahim’s standing within the unity government and whether Rafizi Ramli’s new Bersama party can gain traction among young voters.

Prabowo Says He Reprimanded Pramono Over Adverts at Bundaran HI, Then Learnt Gerindra Members Had Put Them Up

President Prabowo Subianto said he had contacted Jakarta Governor Pramono Anung to ask for adverts at the capital’s Bundaran HI to be removed, initially believing the issue fell to the city administration. He was surprised to learn that Gerindra Party members had installed them; Prabowo said he told Pramono to take them down, and the area has since been cleared.

XLSMART promotes 5G connectivity to boost productivity

XLSMART is expanding its XL Ultra 5G+ service across Lombok, where coverage now reaches around 94 per cent of the island through nearly 900 5G base stations. The company says more consistent connectivity can support local businesses, tourism, education and work, as well as improve entertainment experiences.

HSB Investasi Becomes Indonesia’s First and Only Broker to Offer Client Funds Insurance

HSB Investasi says it is the first and only futures broker in Indonesia to offer institutional third-party insurance for client funds, with aggregate cover of up to US$1 million. The policy applies only to specified institutional misconduct or insolvency events and does not cover trading losses; the company says it supplements existing safeguards such as segregated accounts.

Danantara Indonesia officially launches Danareksa Investments

Danantara Asset Management has launched Danareksa Investments as the new identity of a fund manager formed by merging four investment management companies, which together managed more than Rp170 trillion in assets as of June 2026. The company plans to strengthen capabilities across asset classes, expand products and services for retail and institutional investors, and use technology and Himbara distribution channels to widen access, while emphasising governance and investor protection.