Indonesian Political, Business & Finance News

Archive: 10 May 2026

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ASDP Records Revenue of Rp 4.96 Trillion in 2025, Pioneer Crossings Up 11%

PT ASDP Indonesia Ferry (Persero) celebrated its 53rd anniversary by highlighting its commitment to safety amid operational challenges, achieving a ship accident rate of 0.220%—better than the 0.230% target—despite five incidents in 2025. The company reported revenue of Rp 4.96 trillion, with pioneer ferry services growing 11% to over 93,000 trips and vehicle transport rising 15% to more than 556,000 units, underscoring its vital role in national connectivity and economic development. Customer satisfaction reached 3.34 out of 4, bolstered by digital enhancements and reliable operations, while social initiatives like charity runs supported safety, orphanages, and mangrove planting for sustainable growth.

Pramono Surprised by Public Enthusiasm at Inaugural CFD on Rasuna Said

Jakarta Governor Pramono Anung expressed surprise at the high public turnout for the first Car Free Day (CFD) event on Jalan H.R. Rasuna Said in South Jakarta on 10 May 2026. The initiative aims to showcase ongoing urban revitalisation efforts in the area, inspired by national heroine Hajjah Rangkayo Rasuna Said, with improvements to abandoned monorail pillars and road widening expected to be completed next month. The CFD will operate regularly from 1 June 2026, mirroring the schedule of the popular Sudirman-Thamrin event, highlighting Jakarta's commitment to creating new urban icons and promoting public spaces.

Pacitan Police Brigadier Becomes Fugitive, Suspected of Scamming to Free Detainee

A Brigadier from Pacitan Police Resort has gone into hiding after allegedly defrauding a family of Rp 30 million by promising to secure the release of their detained relative. The officer, who faces charges under Article 492 of the Criminal Code for fraud or embezzlement with a potential four-year sentence, also stole a motorcycle and is linked to other vehicle thefts. The case is under investigation, with the police issuing a wanted notice to apprehend him and hold him accountable.

Andre Rosiade at the Inauguration of BTS in North Malalak, West Sumatra: We Ensure Development

Andre Rosiade, a DPR RI member, inaugurated a new Base Transceiver Station (BTS) in North Malalak, West Sumatra, emphasising that building telecommunications infrastructure is a key responsibility of elected representatives to serve the public. He highlighted ongoing efforts to eliminate signal blank spots across the province by 2029, in collaboration with local leaders and Telkomsel, while urging communities to protect the equipment from theft. The initiative addresses persistent connectivity issues in rural areas, supported by Telkomsel's commitment to expanding coverage in 19 districts and cities.

Understanding the Limits of "New Media"

The article explores the rise of "homeless media" or new media in Indonesia, which are content production entities lacking conventional editorial infrastructure and operating on social platforms like Instagram and TikTok. It highlights how accounts such as Folkative and Indozone gain millions of followers through speed, visual appeal, and direct audience engagement, without adhering to traditional journalistic standards like fact-checking or the 5W+1H framework. While these platforms build trust within their entertainment-focused ecosystems, the piece warns that they cannot replace mainstream media due to their superficial information delivery and distinct operational DNA.

New Cigarette Excise Layer Criticised, Seen as Potential "Time Bomb" for Finance Minister Purbaya

Civil society groups have criticised the government's proposal to add a new layer to the cigarette excise tax structure, arguing it contradicts the Finance Ministry's roadmap for simplification and could legalise illegal tobacco products, potentially creating legal risks for Finance Minister Purbaya Yudhi Sadewa in the future. Critics like Gurnadi warn that the hasty policy, lacking transparency and stakeholder input, might backfire politically and socially, especially in Indonesia's context of prosecuting former officials. Zulfikar Firdaus from CISDI adds that the move may not protect labour-intensive sectors as claimed, but instead allow large companies to dominate the market with cheap cigarettes, squeezing small industries.

Hercules: I Am Not Above the Law

Hercules Rosario Marshal, Chairman of the United Indonesian People's Movement (GRIB) Jaya and a close associate of President Prabowo Subianto, repeatedly asserted during a speech at the 15th anniversary event of GRIB Jaya in Jakarta that he is not immune from the law. He emphasised his commitment to legal accountability despite his proximity to the president and refuted accusations of being a thug or criminal, highlighting his clean police record and long-standing charitable activities supporting orphans and the poor. This statement underscores efforts to distance the organisation from perceptions of intimidation or illegality amid Indonesia's evolving political landscape.

Ministry of HAM: Prabowo Provides Space for Press Freedom, No Need to Doubt

Thomas Harming Suwarta, Special Staff to the Minister of Human Rights, affirmed that President Prabowo Subianto's administration inherently protects press freedom as part of its commitment to advancing human rights, emphasising that this space for media independence is unquestionable. Speaking at a fun walk event marking World Press Freedom Day 2026, he highlighted the government's role in fostering a free, independent press that serves public interests and promotes democracy, while announcing upcoming human rights training for journalists to enhance literacy and protection. Meanwhile, Press Council Chairman Komaruddin Hidayat described the event as a moment to reinforce journalistic principles like objectivity, professionalism, and ethics.

Investment Absorbs Over 700,000 Workers in Early 2026

Indonesia's economy grew by 5.61% in the first quarter of 2026, driven significantly by investment which contributed 32% to the growth and realised Rp498.8 trillion, absorbing 706,569 workers—a 18.9% increase year-on-year. This performance, the highest first-quarter growth since 2021, underscores the strength of Indonesia's economic fundamentals and investor confidence amid global uncertainties. Experts highlight that consistent policies on downstreaming, bureaucratic reform, and investment licensing will be key to achieving the full-year target of Rp2,041.3 trillion.

KAI Logistics Targets New Business in Livestock Transport

PT Kereta Api Logistik (KAI Logistics) has signed a memorandum of understanding with PT Bogantara Indo Transport to explore new opportunities in transporting livestock, starting with cattle shipments from East Java to Jakarta. This collaboration aims to provide integrated logistics solutions for large-scale agricultural and livestock commodities using rail transport, enhancing distribution efficiency and supporting national food security. The initiative aligns with Indonesia's development goals by strengthening the food sector and national economy through innovative transport methods that offer greater capacity than road haulage.

DPR Hajj Oversight Team Highlights Provision of Meals for Pilgrims

The DPR RI Hajj Oversight Team, led by Deputy Chairman Cucun Ahmad Syamsurijal, will conduct direct monitoring of Hajj pilgrims' services in the Holy Land, focusing on hotel room capacities, catering quality, and handling of non-procedural pilgrims. Initial evaluations have identified issues such as overcrowding in agreed four-person rooms and monotony in meal menus, which will be discussed with all stakeholders including Hajj service officials in Saudi Arabia and Indonesia. Enhanced inter-ministerial coordination has tightened screening to prevent unauthorised travel to Saudi Arabia without proper Hajj visas.

Sharp Surge: Shell Resumes Selling Diesel at Rp 30,890 Per Litre

Shell Indonesia has resumed selling its V-Power Diesel at Rp 30,890 per litre following shortages since early 2026, driven by a dramatic global oil price surge due to the US-Israel-Iran conflict. This price marks more than a doubling from Rp 14,620 per litre in March 2026, with availability initially limited to major cities like Jakarta and Bandung, while other fuels like Shell Super remain unavailable. Pertamina has also adjusted prices for non-subsidised diesel and premium petrol in select regions, reflecting broader market pressures in Indonesia's fuel sector.

PLN IP says innovative culture continues to grow in the company environment

PT PLN Indonesia Power's President Director, Bernadus Sudarmanta, has highlighted the ongoing growth of an innovative culture within the company, which underpins reliable, efficient, and increasingly green electricity supply for a sustainable energy future. This statement follows the awarding of the 2025 Satyalancana Wira Karya to three young innovators from the firm—Prima Galih Pratama, Agung Suharwanto, and Herowiko Thama Nurahman—recognised by the Minister of Energy and Mineral Resources, Bahlil Lahadalia, for their contributions to the national energy sector. The achievement reinforces PLN IP's commitment to sustainable innovations that bolster Indonesia's energy resilience and support the transformation to a more modern, efficient, and environmentally friendly power system.

Ibas Commits to Championing Labour Regulations in Favour of the People

Edhie Baskoro Yudhoyono, Deputy Chairman of the MPR RI, has pledged to oversee labour policies that genuinely benefit workers while fostering a healthy balance among workers, entrepreneurs, and the government. During a dialogue in Trenggalek, East Java, he addressed concerns from workers, SMEs, and online motorcycle taxi drivers, advocating for accessible KUR credit, training programmes, BPJS protections, and free BPJS coverage for informal workers. Ibas highlighted the role of initiatives like the Free Nutritious Meals programme in creating new jobs and emphasised protections for female workers, underscoring how strong workers lead to prosperous families and a thriving Indonesia.

Deputy Speaker of DPR Says Improvements in Hajj Organisation Starting to Show

The Deputy Speaker of the Indonesian House of Representatives, Cucun Ahmad Syamsurijal, has praised the enhancements in the organisation of the 2026/1447 Hijriah Hajj pilgrimage, noting smoother operations compared to the previous year. Speaking after seeing off a group of pilgrims at Kertajati Airport, he highlighted better handling of health-related delays, improved document processing for entry into Saudi Arabia, and enhanced airport services that have alleviated past complaints. These improvements, stemming from better coordination between the Ministry of Religious Affairs, the DPR, and other stakeholders, are expected to be sustained throughout the pilgrimage season, underscoring the government's commitment to facilitating this significant religious obligation for Indonesian Muslims.

Origins of 321 Foreign Nationals Involved in International Online Gambling Syndicate at Hayam Wuruk Building: Citizens from China, Vietnam to Laos

Indonesian National Police's Criminal Investigation Agency raided and arrested 321 foreign nationals operating an international online gambling syndicate in a building in West Jakarta on 9 May 2026, following public tips and extensive investigations. The suspects, primarily from Vietnam (228), China (57), and other Southeast Asian countries, were caught in the act and had been active since 7 May, with authorities seizing evidence including 75 gambling domains, electronics, and cash. This crackdown, directed under President Prabowo Subianto's attention, underscores Indonesia's efforts to dismantle cross-border organised crime networks exploiting digital platforms.

One Indonesian Syndicate Member in Hayam Wuruk Gambling Operation Previously Worked in Cambodia

Indonesian police have arrested 321 individuals operating an online gambling syndicate in Hayam Wuruk, Jakarta Barat, including one Indonesian national who previously worked in Cambodia and 320 foreigners from countries such as Vietnam, China, and Myanmar. The foreign suspects, who entered Indonesia on expired tourist visas, are being handed over to immigration authorities for detention in Kuningan and Jakarta Barat facilities. This raid highlights ongoing efforts to dismantle illegal online gambling networks that exploit visa overstays and involve cross-border criminal syndicates.

Indonesia says no safe haven for international gambling syndicates

Indonesian police have vowed to eradicate online gambling and international scam operations, asserting that the country will not serve as a base for such activities. This follows the arrest of 321 foreign nationals in West Jakarta linked to an international online gambling network, with authorities seizing approximately Rp1.9 billion in cash and foreign currencies. The crackdown aligns with President Prabowo Subianto's Astacita programme to combat digital and transnational crimes, highlighting the severe social and economic damage caused by these syndicates.

Hajj Flight Departure Punctuality Rate Reaches 96 Percent

PT Angkasa Pura Indonesia, operating as InJourney Airports, reported a smooth operation of Hajj flights in 2026 across its managed airports, achieving an on-time performance (OTP) rate of approximately 96 percent. During the period from 21 April to 9 May, 126,097 prospective Hajj pilgrims were transported to the Holy Land via 14 airports, involving 322 flights, of which 310 departed on schedule. This high punctuality underscores effective planning and collaboration among InJourney Airports, the Hajj Organising Committee, airlines, air navigation services, ground handlers, and relevant ministries including Hajj and Umrah and Transportation.

Ahmad Dedi's Lawyer Denies Client Fled from Media Interview

Ahmad Dedi's lawyer, T S Hamonangan Daulay, has refuted claims that his client, a mid-level functional auditor at the Directorate General of Customs and Excise, avoided media after being questioned by the Corruption Eradication Commission (KPK) in a bribery case involving import goods. Daulay emphasised that Dedi's decision to leave hastily was to respect the ongoing legal process and avoid any counterproductive perceptions, clarifying that Dedi remains a witness, not a suspect. This response aims to counter negative framing in media and social media that has damaged Dedi's reputation.

House Commission X to Summon Minister of Basic and Secondary Education to Discuss Honorary Teacher Elimination Issue

Indonesia's House Commission X plans to summon Minister of Basic and Secondary Education Abdul Mu'ti on 19 May 2026 to address the planned elimination of honorary teachers in public schools starting 1 January 2027, as mandated by the 2023 Civil Service Law. The policy restricts educators to ASN, PPPK, or part-time schemes, with efforts underway to certify all teachers and shift uncertified ones to part-time PPPK roles funded by local governments, potentially with central support for financially strained regions. This move aims to formalise teaching positions but has raised concerns, prompting parliamentary scrutiny.

Dutch Couple's Partying Habit in Jakarta Reveals Wealth from Bank Heist

In the 1910s, a Dutch couple living lavishly in Batavia (now Jakarta) was exposed for funding their extravagant lifestyle with stolen bank funds equivalent to Rp87 billion today. A.M. Sonneveld, a former military officer turned bank employee, embezzled 122,000 guilders from customer accounts at Nederlandsch Indie Escompto Maatschappij, leading to a nationwide manhunt that ended with their arrest in Hong Kong and extradition. The case, one of the largest thefts of its era, serves as a historical reminder of the consequences of financial crimes and underscores the need for vigilance against modern banking frauds.

In Prison Uniforms, 320 Foreign Nationals from Online Gambling Syndicate in Hayam Wuruk Escorted to Immigration Detention

Indonesian police have detained 320 foreign nationals involved in an online gambling syndicate at an office building in Hayam Wuruk, West Jakarta, and are transferring them to immigration detention centres in Kuningan and West Jakarta due to their status as non-citizens. The suspects, mostly from Vietnam and China, were caught red-handed operating gambling sites on tourist visas that had expired, highlighting ongoing efforts to combat transnational cybercrime. One Indonesian national among the 321 arrested will be handled separately by the police.

Stellantis-Leapmotor Expands Collaboration to Production in Madrid

Stellantis and Leapmotor are deepening their strategic partnership by expanding production at Stellantis's Figueruelas plant in Zaragoza, Spain, to include new electric vehicle models from Opel and Leapmotor, with potential starts in 2026 and 2028. This expansion also aims to bolster the Villaverde plant in Madrid through allocation of Leapmotor vehicles, enhancing European localisation and affordability of world-class electric cars. The move builds on Stellantis's 21% stake in Leapmotor and their 51% ownership in the joint venture LPMI, which handles sales and production outside China.

Busting International Syndicate, Polri: Don't Let Indonesia Become a Haven for Online Gambling

Indonesian police have arrested 321 foreign nationals from countries including Vietnam, China, and Myanmar operating an online gambling site in West Jakarta, highlighting the growing threat of international syndicates exploiting the country. Brigadier General Wira Satya Triputra of Bareskrim Polri emphasised the commitment to eradicating both online and conventional gambling due to its detrimental impact on society and the national economy. Authorities plan cross-sector coordination to investigate sponsors and infrastructure providers, aiming to prevent Indonesia from becoming a hub for such illicit activities.

Gus Ipul Invites Pesantren Caretakers to Support President's Priority Programmes

Gus Ipul, a prominent figure, urged Islamic boarding school (pesantren) caretakers in Madura to participate in updating the National Single Socio-Economic Data (DTSEN) to ensure accurate targeting of social assistance programmes under President Prabowo's priorities. Speaking at a collaboration dialogue in Pamekasan, he highlighted the importance of valid data for effective social welfare and invited religious leaders to support the People's School initiative by providing guidance, criticism, and religious education to strengthen character building among students. The event, attended by local officials, ministry directors, and Nahdlatul Ulama representatives, underscored the collaborative effort to enhance community empowerment through precise data management.

Ministry of Industry Accelerates Essential Oil Downstreaming through PFF Development

The Indonesian Ministry of Industry is enhancing the downstream processing of essential oils by developing the Flavor and Fragrance Centre (PFF) in Bali, aiming to transform raw materials into high-value products such as perfumes, aromatherapy items, cosmetics, and household goods. This initiative leverages Indonesia's rich biodiversity and abundant essential oil commodities to boost the national flavor, fragrance, and wellness industries, supported by the island's thriving tourism and spa sectors. The PFF serves as a hub for innovation, training, and business incubation, fostering human resource development and competitive products for domestic and global markets.

Sukuk ST016 Can Be Purchased from 32 Distribution Partners, See the Ordering Stages

The Indonesian government has launched the retail sharia-based Savings Sukuk series ST016, available for individual investors from 8 May 2026 through 32 designated distribution partners. This offering includes two series: ST016T2 with a two-year tenor and Green Sukuk ST016T4 with a four-year tenor, both featuring floating coupons based on the BI Rate plus a spread, with minimum investments starting at Rp1 million. The structured ordering process involves registration, booking, payment, and ownership confirmation, aiming to broaden access to sustainable Islamic financing instruments.

13 Million E-Commerce Transactions, SMEs in Disaster-Affected Areas Revive

Economic recovery in disaster-hit regions of Aceh, North Sumatra, and West Sumatra is gaining momentum, evidenced by a 77% surge in SME transactions on e-commerce platforms, reaching over 13 million in total. Economic stimulus aid has been largely disbursed to survivors, with priorities on rehabilitating SMEs, distributing micro-business loans, and restoring markets, where progress stands at 89-100% completion. This initiative by the Task Force for Accelerating Rehabilitation and Reconstruction underscores efforts to fully revive local economies post-hydro-meteorological disasters.

The Story of Dwi Angga, the Gen Z Farmer from Rawa Malang in North Jakarta Who Transformed a Shabby Plot into a Thriving Space

Dwi Angga Mukti, a 26-year-old Gen Z farmer, has revitalised a 1.5-hectare derelict plot in Rawa Malang, North Jakarta, into a productive urban farm named Bangun Karya Mandiri, growing vegetables like water spinach, basil, mustard greens, and chillies on what was once a rubbish-strewn wasteland. Inspired by his involvement in youth groups and environmental activism through the Orang Indonesia community, Angga's initiative began as a greening effort to combat the area's negative stigma as a slum and red-light district. This urban farming project not only promotes sustainable agriculture in densely populated areas but also fosters community engagement and environmental improvement in urban Indonesia.

Who Offered Hundreds of Billions to Hercules to Not Support Prabowo?

Hercules Rosario Marshal, Chairman of the Gerakan Rakyat Indonesia Bersatu (GRIB) Jaya, revealed that he was approached by a two-star general from a political party who offered him hundreds of billions of rupiah to join their side and withdraw support for Prabowo Subianto during the 2024 presidential election. Hercules firmly rejected the bribe, citing his unwavering loyalty to Prabowo, whom he helped usher into the presidency as Indonesia's eighth president. This incident highlights potential attempts at political interference and vote-buying in the recent election process.

Police to Investigate Funding Flows and Sponsors of 320 Foreign Workers at Hayam Wuruk Online Gambling Headquarters, Beyond Just the Money

Indonesian police have pledged a thorough investigation into an online gambling operation based in a building on Jalan Hayam Wuruk in West Jakarta, extending beyond financial trails to include the sponsors of 320 foreign workers employed there. Director of General Criminal Acts at Bareskrim Polri, Brigjen Wira Satya Triputra, stated that suspects will face criminal proceedings, with coordination involving immigration authorities to probe recruitment, equipment providers, and immigration violations. The raid resulted in the arrest of 320 foreigners and one Indonesian national, alongside the seizure of Rp 1.9 billion in cash, highlighting ongoing efforts to dismantle illicit networks involving cross-border elements.

320 Foreign Nationals from Online Gambling Syndicate in Hayam Wuruk Handed Over to Immigration, 1 Indonesian to Bareskrim

Indonesian National Police's Bareskrim has arrested 321 suspects in an online gambling syndicate operating from an office building on Jalan Hayam Wuruk in West Jakarta. Of these, 320 foreign nationals from countries including Vietnam, China, and Myanmar, who entered Indonesia on expired tourist visas, are being transferred to Immigration detention facilities in Kuningan and West Jakarta for coordinated handling. The sole Indonesian suspect will be processed at Bareskrim headquarters, highlighting ongoing efforts to dismantle illicit online gambling networks involving international elements.

Beware of Donation Scam Impersonating KPK for Orphans

The Corruption Eradication Commission (KPK) has denied involvement in a fraudulent donation drive for 300 orphans that falsely uses the names of its leaders, deputies, and logo, circulated via WhatsApp posters. KPK spokesperson Budi Prasetyo urged the public to verify any information claiming to be from the agency and expressed regret over the misuse of its identity, which could mislead people. The commission plans to investigate the perpetrators and take legal action as per regulations.

This is the Circular from the Minister of Basic and Secondary Education Regarding the Fate of Honorary Teachers Next Year

The Indonesian Ministry of Basic and Secondary Education has issued a circular ensuring that honorary teachers not registered in the 2024 Basic Education Data can continue their duties in local government schools until 31 December 2026, provided they were active and registered as of 31 December 2024. This policy affects 237,196 non-civil servant teachers and aims to maintain the continuity of learning in public schools, with provisions for professional allowances or incentives based on certification and workload. Local governments may provide additional income depending on their budgets, fulfilling national obligations under the National Education System Law.

Examining the Absorption Test of Savings Sukuk ST016 - Bisnis Indonesia Premium

The Savings Sukuk series ST016 presents a new challenge for domestic retail investor absorption amid ongoing volatility in the capital market. Offering higher yields, this product faces heightened expectations and investment appeal issues within the public. Throughout the year, retail government securities issuances have been turbulent, with underwhelming results for the debut ORI029 followed by an oversubscribed SR024 by the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance.

Indonesia’s new capital cracks down on illegal forest activities

The Nusantara Capital Authority (OIKN) is intensifying efforts to combat illegal activities in the IKN area, particularly in protected forests like the Bukit Soeharto People's Forest Park, where mining and encroachment are strictly prohibited. Officials have formed a cross-agency task force that has already addressed cases such as illegal coal transportation and mining operations, while also conducting land restoration, community education, and increased patrols. This crackdown underscores Indonesia's commitment to environmental preservation amid the development of the new capital, with public reporting channels established to enhance monitoring.

RDF Machine at TPST Mengwitani Targeted to Operate Mid-July 2026

The Badung Environment and Cleanliness Service (DLHK) projects that the refuse-derived fuel (RDF) processing facility at TPST Mengwitani will commence operations in mid-July 2026, with a capacity of 300 tonnes to support renewable energy for industrial sectors like cement factories. A third party has been appointed as both operator and offtaker to ensure consistent absorption of the RDF output, addressing long-term waste management challenges in Badung. Meanwhile, the district is awaiting emission test results for incinerators at TPST Mengwitani and TPST Padang Seni Kuta, while optimising organic waste processing into free compost for public distribution and green spaces.

AI Begins to Displace Repetitive Jobs, These New Skills Are Increasingly Sought by Companies

A Harvard Business School study reveals that generative AI, since the launch of ChatGPT in November 2022, has led to a 13% drop in job postings for repetitive, structured tasks in the US market, while boosting demand by 20% for roles requiring analytical, technical, and creative skills, particularly in finance and technology sectors. The research highlights emerging needs for skills like data analysis, machine learning, and ethical AI use in AI-complementary jobs, alongside a reduction in required skills for automatable positions. Professor Suraj Srinivasan advises companies to invest in retraining programmes for vulnerable workers and ongoing AI upskilling to leverage AI as a human capability enhancer rather than a cost-cutting tool.

Ministry of Environment Accelerates Waste-to-Energy Development in Greater Bandung

The Ministry of Environment and Forestry (KLH) is expediting the construction of a waste-to-energy facility in Greater Bandung, West Java, to address the escalating waste emergency, with the Oxbow Cicukang Margaasih site selected for its suitability away from residential areas and near water sources. The project, involving tendering and construction, is projected to operationalise within 1.5 to 2 years, supported by interim measures like incinerators and RDF technology. Local authorities emphasise the urgency, given daily waste production of 1,800 tonnes against a disposal quota of just 280 tonnes, underscoring the facility's potential to alleviate environmental pressures in the region.

BCA Records 5.6% YoY Increase in Loan Disbursements to Rp994 Trillion as of March 2026

PT Bank Central Asia Tbk (BCA) reported a 5.6% year-on-year increase in loan disbursements to Rp994 trillion as of March 2026, driven primarily by productive financing which rose 7.8% to Rp760.2 trillion. The bank's performance was bolstered by strong growth in sustainable sector loans (10% YoY to Rp258.4 trillion) and SME financing (12% YoY to Rp146 trillion), supported by solid funding with CASA at Rp1.09 quadrillion, comprising 85.2% of third-party funds. Consequently, BCA's net profit grew 4.3% YoY to Rp14.7 trillion, highlighting its robust position in Indonesia's banking sector.

Boosting Employment and Downstreaming, CA-EDC Project Reaches 66%

PT Chandra Asri Pacific Tbk's CA-EDC project has achieved 66% completion, entering the phase of developing major logistics infrastructure to support the distribution and management of chlor-alkali and ethylene dichloride products. The initiative is expected to generate around 250 new jobs upon full operation in Q1 2027 and involves local SMEs, aligning with national goals for industrial downstreaming and sustainable economic growth. Designated as a Strategic National Project, it underscores the company's commitment to strengthening Indonesia's chemical industry ecosystem with an annual capacity of 827,000 tonnes of caustic soda and 500,000 tonnes of EDC.

100-Year Research: Only a Handful of Stocks Drive Wall Street

A century-long study of nearly 30,000 US stocks from 1926 to 2025 reveals that the market's average return exceeded 30,000 per cent, while the median stock returned a loss of 6.9 per cent, underscoring how a tiny fraction of companies generate the bulk of wealth. Just 46 firms accounted for half of the stock market's created wealth over the past 100 years, with the total market generating approximately $91 trillion in value. This concentration highlights the vulnerability of markets dominated by a few giants, such as the "Magnificent Seven" tech firms, to potential corrections.

Mining Issuers Anxious as Government Considers Hiking Mineral Mining Royalties

Indonesian mining companies are adopting a wait-and-see approach amid the government's review of increasing mineral mining royalties via revisions to PP 19/2025, potentially introducing a production-sharing scheme similar to the oil and gas sector. Analysts from BRI Danareksa Sekuritas warn that this could squeeze profit margins, deter expansions, and foster negative short-term market sentiment, though it may boost state revenues amid high global commodity prices. The proposal contributed to a 2.86% drop in the Composite Stock Price Index (IHSG) on Friday, with significant declines in shares of major mining firms like TINS, INDY, and INCO.

Ministry stresses press freedom as part of human rights protection

Indonesia's Ministry of Human Rights has emphasised that press freedom is a fundamental human right, urging the government and society to foster a free, independent media ecosystem that upholds public interest, human rights, and democracy. Speaking at a World Press Freedom Day event in 2026, Minister Suwarta highlighted ongoing improvements in press freedom amid the digital information surge and reaffirmed the Prabowo administration's commitment to enhancing human rights, which in turn bolsters media quality and independence. Press Council Chair Komaruddin Hidayat echoed this by noting the event's role in reinforcing journalistic principles, objectivity, and ethics among media professionals.

Gus Ipul Urges Social Welfare Institutions Not Only to Serve but Also to Build Credibility

In a dialogue with East Java's social welfare institutions, Minister of Social Affairs Gus Ipul emphasised the need to update the National Single Socio-Economic Data (DTSEN) to support welfare programmes, outlining formal and participatory channels for data collection. He urged LKS managers to enhance credibility through accreditation to foster collaborations beyond state funding and to develop joint action plans for revitalisation and improved service delivery. Provincial Secretary Adhy Karyono praised recent regulations on LKS, stressing the importance of accreditation and standardisation to ensure high-quality social services.

BPBD records 11 areas in Kendari affected by flooding

The Kendari Regional Disaster Mitigation Agency (BPBD) has reported that 11 locations in Kendari City, Southeast Sulawesi Province, have been impacted by flooding due to heavy rainfall since Saturday night, affecting residential areas, office zones, and rice fields. The flooding has struck multiple sub-districts including Wuawua and Baruga, with the city government coordinating with provincial and central authorities to find solutions. Mayor Siska Karina Imran apologised to residents for any shortcomings in the response, emphasising the need for strong cross-sector and multi-level governmental collaboration to address the issue effectively.

Rasuna Said Car Free Day Opens, Thousands of Residents Enthusiastic: Jakarta Gains New Icon

The Jakarta Provincial Government has officially launched the Car Free Day (CFD) on Jalan Rasuna Said in South Jakarta, attracting thousands of enthusiastic residents who engaged in various recreational activities amid the area's ongoing revitalisation. Governor Pramono Anung highlighted the transformation of the once-cluttered street, now cleared of abandoned monorail pillars, as part of efforts to create a new urban icon, with full implementation set for 1 June 2026 upon completion of construction works. This expansion of CFD locations is expected to boost sports tourism in the capital, drawing visitors from outside the city for weekend fitness and leisure.

LPG Imports Reach 81%, BPH Migas Promotes CNG for Households

Indonesia's LPG imports have reached 81% of domestic needs, prompting the BPH Migas to advocate for Compressed Natural Gas (CNG) and mini-Liquefied Natural Gas (LNG) as alternatives for household energy use to reduce import dependency and subsidies. This initiative aligns with President Prabowo Subianto's Asta Cita vision for energy self-sufficiency and the 2025-2029 National Medium-Term Development Plan, targeting 350,000 household gas connections by 2029 through accelerated regulations and public-private partnerships. Companies like PGN Gagas are expanding CNG distribution, having supplied over 4.6 million MMBTU in 2025 across various sectors, enhancing national energy resilience with domestic resources.

Deceiving Tourists, Owner of Travel Agency in Labuan Bajo Detained by Police

Police in West Manggarai have detained KA, the 32-year-old owner of the "Labuan Bajo Top" travel agency, for allegedly defrauding a group of tourists from Malaysia and Singapore of Rp 85.2 million by promising a premium package that was not delivered. The suspect misused the funds for personal gain, leading to the cancellation of booked services, and now faces up to four years in prison under Indonesia's new Criminal Code for fraud. This incident highlights vulnerabilities in the tourism sector and underscores police efforts to protect visitors and maintain the reputation of Labuan Bajo's burgeoning tourism industry.