Indonesian Political, Business & Finance News

Archive: 16 June 2026

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Iwan Koswara Says Muharram Is a Momentum to Strengthen Solidarity in West Java

West Java DPRD member Iwan Koswara has called for the Islamic New Year to be a moment of reflection and strengthened social solidarity. He emphasised that the spirit of hijrah should translate into collective action to address social challenges in Indonesia's most populous province. The PSI politician highlighted the need to preserve local cultural values of mutual care and support to achieve inclusive development.

Over 100 decorated cars enliven Islamic New Year 1448 H celebrations in East Jakarta

More than 125 decorated vehicles took part in a parade at Al Hamid Islamic Boarding School in Cipayung, East Jakarta, to mark the Islamic New Year 1 Muharram 1448 Hijriah. East Jakarta Mayor Munjirin highlighted the event as a means to strengthen social bonds and expand religious outreach beyond the pesantren community. The annual tradition, featuring Islamic ornaments and calligraphy, aims to remind the public that Muslims have their own new year celebration worthy of commemoration.

Profile of Eddy Tansil and the Chronology of Indonesia's Largest Corruptor's Escape

Eddy Tansil, the former owner of Golden Key Group, remains a fugitive after orchestrating one of Indonesia's largest corruption scandals involving a Rp1.3 trillion state loss. His escape from a high-security prison in the 1990s was a major blow to the judicial system. Despite his continued absence, the Attorney General's Office has recently recovered assets worth over Rp1 trillion through auctions and voluntary surrender.

DPR Approves Indicative Budget Ceiling of Rp625.14 Billion for Investment Ministry, Here Are the Details

Indonesia's House of Representatives (DPR) has set an indicative budget ceiling of Rp625.14 billion for the Ministry of Investment and Downstreaming for fiscal year 2027. The allocation is significantly lower than the ministry's requested Rp2.19 trillion and covers only 52 percent of its minimum operational needs. Minister Rosan P. Roeslani has proposed an additional Rp578.93 billion to help meet the national investment target of Rp2,322 trillion.

President: Iran Ready to Face Various Scenarios After Agreement with US

Iranian President Masoud Pezeshkian stated that a memorandum of understanding with the United States marks a significant step towards ending war, though a final agreement remains elusive. He emphasised that Iran has prepared for all possible outcomes and will continue serving its people regardless of a final deal. The memorandum reportedly includes a halt to military actions across all fronts, including Lebanon.

Viral Video of Indonesian Domestic Worker Abused in Malaysia, Government Responds

A viral video showing the abuse of an Indonesian domestic worker in Johor Bahru, Malaysia, has prompted a swift response from Indonesian diplomatic missions. The Indonesian Ambassador to Malaysia confirmed that local police have arrested the perpetrator and that consular staff are providing protection and assistance to three victims. The government has urged all Indonesians seeking work in Malaysia to use official placement channels to ensure their safety and legal protection.

Antam Gold Price Today, 16 June 2026: Steady at Rp2.729 Million per Gram, Full Breakdown of All Denominations

The price of gold bullion produced by PT Aneka Tambang Tbk (Antam) remained unchanged at Rp2.729 million per gram on Tuesday, 16 June 2026. The buyback price also held steady at Rp2.5 million per gram. The report includes a complete list of prices for all denominations and outlines the applicable tax regulations for both purchasing and selling back gold bars.

Deputy Regent: Thousand Dulang Parade Preserves East Lombok's Local Culture

East Lombok's Deputy Regent has highlighted the 'thousand dulang' parade as a key effort to preserve local cultural traditions during the Islamic New Year festival. The event, which features a communal feast and traditional Sasak attire, is seen as a symbol of community solidarity and mutual cooperation. Local government hopes the festival will also boost economic growth through exhibitions and an SME bazaar.

Hoax! Zulhas did not say the people's only duty is to pay taxes

A social media post falsely attributed to Coordinating Minister for Food Zulkifli Hasan claims he said the people's only task is to pay taxes and not interfere in government affairs. The Coordinating Ministry for Food officially debunked this recycled hoax in April 2026, confirming no such statement was ever made by the minister.

FEB UIN Jakarta Strengthens Governance Through Academic Profile Map of Lecturers

The Faculty of Economics and Business at UIN Syarif Hidayatullah Jakarta has published a comprehensive guide profiling its Master of Management lecturers for 2026. The initiative aims to map academic expertise, research track records, and practical experience to serve as a quality assurance benchmark. The faculty projects this database will support sustainable human resource development and strengthen institutional governance.

At State Luncheon, Prabowo Affirms Germany as Indonesia's Strategic Partner

President Prabowo Subianto has underscored the importance of Indonesia's strategic partnership with Germany during a state luncheon for German President Frank-Walter Steinmeier. He highlighted the 74-year diplomatic relationship and Germany's role as a source of inspiration in innovation and technology. Prabowo expressed hope that the visit would further strengthen bilateral cooperation amid current global uncertainties.

Hoax! Prabowo allows Israel to test missiles in Indonesia

A TikTok post falsely claims President Prabowo Subianto has permitted Israel to conduct missile tests in Indonesia. An investigation reveals the screenshot was manipulated from an unrelated article about Prabowo's domestic policies. The claim is categorically false and has been rated as a hoax.

Eddy Tansil: The Legendary Fugitive of 30 Years Whose Assets Were Seized by the State

Eddy Tansil, the mastermind behind a US$430 million loan scandal at Bapindo, remains a fugitive 30 years after his mysterious escape from prison. The Attorney General's Office has intensified efforts to recover state losses, recently handing over seized assets including cash, land, and factories to the Ministry of Finance. The recovered assets, valued at Rp51.6 billion in cash alone, represent a significant step in the long-running pursuit of justice for one of Indonesia's most notorious corruption cases.

Police Detain 18 Teenagers Before Brawl in Bekasi, Molotov Cocktail Seized

Police in Bekasi intercepted 18 teenagers suspected of planning a street brawl in the early hours of Tuesday morning. Officers seized a Molotov cocktail, five motorcycles, and ten mobile phones during the patrol. The Brimob unit emphasised its commitment to preventive patrols to maintain public safety and urged parents to monitor their children's nighttime activities.

Strengthen Bilateral Relations, HIPMI Targets Investment Opportunities from Germany

The Indonesian Young Entrepreneurs Association (HIPMI) is seeking to deepen economic ties with Germany, focusing on investment, technology transfer, and vocational training. Chairman Ade Jona Prasetyo highlighted the state visit of Germany's president as a catalyst for expanding cooperation in manufacturing, renewable energy, and human capital development. HIPMI also aims to help local MSMEs access the European market through this strengthened bilateral partnership.

Antam Gold Price Stagnant Today, What Is the Buyback Price?

The price of gold produced by state-owned miner PT Aneka Tambang (Antam) remained unchanged in trading on Tuesday. The 1-gram bar was priced at Rp2,729,000, while the buyback rate held steady at Rp2,500,000 per gram.

Trade Ministry: Weak investor demand triggers gold price decline

Indonesia's Ministry of Trade has attributed a 3.51% drop in the export benchmark price for gold to weakening global investor demand. High interest rates in developed nations have made interest-bearing assets more attractive, reducing gold's appeal. The new reference prices, effective for the second half of June 2026, were set following inter-ministerial coordination.

Antam gold price stable at Rp2.729 million per gram on Tuesday

The price of gold bullion produced by Indonesian state miner PT Antam remained unchanged on Tuesday morning at Rp2.729 million per gram, with the buyback rate also steady at Rp2.5 million. The pricing includes applicable tax deductions under Finance Minister Regulation No. 34/2017, which imposes a 0.45 percent income tax for NPWP holders and 0.9 percent for non-holders on purchases.

Trump expects Strait of Hormuz to be fully reopened by Friday

President Donald Trump announced a preliminary peace agreement with Iran, anticipating the full reopening of the Strait of Hormuz to commercial shipping by Friday. The deal, which includes a 60-day toll-free period for the waterway, aims to stabilise global energy markets and has already contributed to a significant drop in oil prices and a stock market surge. Technical negotiations on Iran's nuclear programme will follow, led by US Vice President J.D. Vance.

Lewotobi Volcano Eruption This Morning, Frans Seda Airport Closed – 4 Flights Cancelled

Frans Seda Airport in Maumere, East Nusa Tenggara, has been temporarily shut down following an eruption of Mount Lewotobi Laki-laki, leading to the cancellation of four scheduled flights. The closure, effective until Wednesday morning, is a safety precaution against volcanic ash. Authorities have also warned nearby communities of potential lahar floods and advised the use of masks to mitigate respiratory hazards from ashfall.

1 Muharram a moment of reflection to strengthen commitment to building Indonesia

UIN Jakarta's rector has called for the Islamic New Year 1448 Hijriah to be a moment of collective reflection on building a more just and progressive Indonesia. He highlighted the need for improved public governance, sustainable economic growth, and education reform to navigate global challenges such as AI and climate change. The rector urged all sectors of society to collaborate in fostering integrity and innovation to achieve the Golden Indonesia 2045 vision.

Beware of 'Leaking Hell' Hitting Indonesia, Researcher Reveals the Facts

Researchers warn that a strong El Niño event, potentially combined with a positive Indian Ocean Dipole, is likely to develop in the second half of 2026, threatening severe drought in Indonesia. The combination could replicate the devastating 1997-1998 conditions, significantly reducing rainfall and increasing forest fire risks. The Indonesian meteorological agency (BMKG) has urged the agricultural sector to prepare by adjusting planting schedules and adopting drought-resistant crops.

Twice Absent from KPK Summons, Former Expert Staffer Heri Gunawan Now Under Investigator Scrutiny

The Corruption Eradication Commission (KPK) is considering further action against Fitri Assiddikki, a former expert staffer to House member Heri Gunawan, after she twice failed to appear for questioning. The investigation concerns alleged corruption in the distribution of corporate social responsibility funds from Bank Indonesia and the Financial Services Authority. KPK is also focusing on tracing assets suspected to be linked to the illicit flow of these social programme funds.

Cultural Week Held in Southeast China to Strengthen Cross-Strait Relations

The Chen Jinggu Cultural Week in Gutian, Fujian Province, drew thousands of participants as part of the 18th Straits Forum, aiming to preserve shared heritage and bolster people-to-people ties across the Taiwan Strait. A pilgrimage to the ancestral Linshui Palace attracted over 1,000 representatives from both sides of the Strait and overseas Chinese communities. Local authorities also launched a pilot programme to expand cultural exchanges and encourage Taiwanese youth to live, work, and start businesses in Gutian.

Russia Offers Free University Education Opportunities for Indonesian Students

The Russian Federation is offering Indonesian students pathways to free higher education through government quotas and international academic competitions. A new grant programme also provides full support including travel, accommodation, and health insurance for talented winners. The initiative aligns with a recently strengthened bilateral agreement on higher education cooperation between Indonesia and Russia.

Prabowo Receives Phone Call from Palestinian President Mahmoud Abbas

President Prabowo Subianto received a phone call from Palestinian President Mahmoud Abbas, who briefed him on the latest situation in Palestine and expressed hope for Indonesia's continued active role. Abbas praised Indonesia's consistent tangible support, including logistics, medical aid, and scholarships, under Prabowo's leadership. The call reaffirmed Indonesia's longstanding commitment to Palestinian statehood and its advocacy for a two-state solution in international forums.

1 Muharram Torch Parade in Bekasi Calls for National Unity

A torch parade marking the Islamic New Year in Bekasi, West Java, became a platform for community leaders to urge national unity and an end to divisive political narratives. Local figure Ahmad Syarifuddin emphasised that rural communities need practical solutions for employment and welfare rather than political conflict. He called for differences of opinion to be managed through dialogue and moral conduct to safeguard Indonesia's social cohesion.

Oil Prices Edge Up as Market Awaits Strait of Hormuz Reopening

Global oil prices saw a slight recovery on Tuesday morning after a sharp decline triggered by a US-Iran peace deal. Investors are now assessing the potential return of significant crude supply to global markets if the Strait of Hormuz is reopened. The market remains cautious, however, due to the slow pace of production recovery and low global stockpiles.

Indonesian Worker Abused in Malaysia, House Commission IX Demands Tighter Oversight of Illegal Migrant Placements

A senior Indonesian lawmaker has expressed deep concern over the abuse of a female migrant worker in Malaysia and called for stricter monitoring of non-procedural placements. Yahya Zaini, Deputy Chairman of House Commission IX, urged the Indonesian Migrant Worker Protection Agency (KP2MI) to coordinate with diplomatic missions to ensure the victim receives legal aid and protection. The case has highlighted the vulnerability of undocumented workers and the government's responsibility to clamp down on unofficial exit routes.

KVB Futures Strengthens Financial Education and Derivatives Literacy Commitment via Bloomberg Technoz Collaboration

KVB Futures has conducted a media visit to Bloomberg Technoz to reinforce its commitment to financial education and derivatives industry literacy in Indonesia. The meeting explored current market trends and the importance of delivering more educational and accessible market information to both retail and institutional investors. The firm also unveiled new client engagement initiatives, including a loyalty programme and a World Cup-themed promotion, while discussing future strategic content collaborations.

KPK considers next steps after former Heri Gunawan staff member fails to appear

Indonesia's Corruption Eradication Commission (KPK) is weighing its options after a key witness, former expert staff member Fitri Assiddikki, twice failed to attend questioning. The investigation concerns alleged corruption in the distribution of Bank Indonesia and OJK corporate social responsibility funds. The KPK is also continuing to trace assets linked to the two suspects, both of whom are sitting members of the House of Representatives.

Electric Vehicle Tax: Protecting the Environment, Propping Up Regional Fiscal Health

The rapid adoption of electric vehicles in Indonesia, particularly in Banten Province, is creating a fiscal paradox where environmental success undermines regional revenue. Generous tax incentives, such as the elimination of the Motor Vehicle Title Transfer Fee (BBNKB) for electric vehicles, combined with declining fuel consumption, have caused significant shortfalls in key regional tax receipts. As Banten's fiscal independence fell short of its 2025 target, the provincial government faces an urgent need to reorient its tax policies to balance green incentives with sustainable local funding.

HIPMI Calls Germany a Strategic Partner to Boost Investment Cooperation

The Indonesian Young Entrepreneurs Association (HIPMI) has identified Germany as a key strategic partner in Europe, highlighting opportunities for concrete collaboration in investment, technology transfer, and renewable energy. The statement follows a state visit by German President Frank-Walter Steinmeier to Jakarta, which is seen as a catalyst for strengthening bilateral economic ties. HIPMI expressed its readiness to act as a bridge connecting Indonesian and German businesses, particularly in modern manufacturing and vocational education.

Indonesian Citizens Lose Rp 9.1 Trillion to Scams, 1,000 Victims Daily

Indonesia's Financial Services Authority (OJK) has revealed that online fraud has cost citizens a staggering Rp 9.1 trillion, with the Indonesia Anti Scam Centre receiving over 432,000 reports. The authority managed to block and save Rp 432 billion of the stolen funds, but faces a massive challenge with an average of 1,000 new reports flooding in each day. A critical time gap exists, as most victims report the crime after 12 hours, while perpetrators typically drain accounts in under one hour.

Minister Rosan Prepares Strategic Programmes for Investment and Downstreaming Ministry in 2027

Indonesia's Investment and Downstreaming Ministry is readying priority programmes for 2027 aimed at strengthening the investment climate and accelerating national downstreaming. Key initiatives include modernising the OSS licensing system with AI, big data, and blockchain, expanding spatial planning integration, and boosting investment promotion in China with a new office in Guangzhou. The ministry will also oversee 18 priority downstreaming projects and expedite investment in 28 strategic commodities to enhance domestic industrial value.

Siap Diburu Investor Global, TPIA Masuk Jajaran Emiten Papan Atas dengan Free Float 25,7%

Saham PT Chandra Asri Pacific Tbk (TPIA) dinilai semakin menarik bagi investor institusi global setelah porsi saham publik (free float) meningkat menjadi 25,7%. Peningkatan ini mendorong likuiditas saham dan membuka peluang masuknya dana besar serta potensi kenaikan bobot TPIA dalam indeks global seperti MSCI dan FTSE. Momentum ini diperkuat dengan pencatatan TPIA di Papan Utama BEI, yang mencerminkan fundamental bisnis dan tata kelola perusahaan yang semakin solid.

Unair Student Allegedly Embezzles Rp 97 Million from KIP-K Organisation Funds

A student at Universitas Airlangga (Unair) has been accused of embezzling approximately Rp 97 million from the Airlangga University Bidik Misi Organization (AUBMO), a group for recipients of the government's Kartu Indonesia Pintar Kuliah (KIP-K) scholarship. The funds were allegedly sourced from voluntary contributions by KIP-K students across four active cohorts. The university has confirmed an internal investigation is underway, focusing on administrative and financial governance issues, while the organisation has stated the individual admitted to the misuse and agreed to return the money.

Hosting President Steinmeier, Prabowo Recounts His 1981 Training Experience in Germany

President Prabowo Subianto hosted a state banquet for German President Frank-Walter Steinmeier in Jakarta, praising Germany as a hub of innovation and a key European partner. He highlighted the long-standing educational ties between the nations, citing former President B.J. Habibie and his own military training in Germany in 1981. Prabowo expressed hope that the visit would strengthen bilateral cooperation amid global uncertainties.

Narcotics Vape Case in Seleman Island Uncovered, BNN Kepri Arrests 2 Suspects

The National Narcotics Agency of the Riau Islands (BNN Kepri) has dismantled a drug trafficking operation involving vapes suspected to contain Etomidate. Two suspects were arrested in the waters off Seleman Island following a public tip-off and a joint operation with Customs. Authorities seized over three kilograms of crystal narcotics and three pieces of liquid vape containing the controlled substance.

Torch Parades to Village Head 'Weddings': 10 Traditions Marking 1 Muharram in Indonesia

The Islamic New Year, observed on 1 Muharram, is celebrated across Indonesia with a rich tapestry of syncretic cultural traditions. From torch-lit processions and communal porridge in Java to effigy parades in Sumatra, these rituals blend Islamic commemoration with local heritage. The practices serve as expressions of gratitude, spiritual reflection, and social cohesion, highlighting the deep integration of Islam within Indonesia's diverse regional cultures.

US-Iran Peace Deal: MPR Deputy Speaker Hopes Fuel Prices Return to Normal

Indonesia's Deputy Speaker of the People's Consultative Assembly (MPR), Eddy Soeparno, has welcomed the peace agreement between the United States and Iran. He expressed optimism that the deal will stabilise global crude oil prices and lead to a reduction in domestic fuel prices, particularly for non-subsidised petrol. The reopening of the Strait of Hormuz is expected to end energy supply disruptions that have persisted for four months.

How a UGM Discussion Turned Chaotic: Budiman Sudjatmiko's Remarks That Inflamed Students

A government discussion forum at Universitas Gadjah Mada (UGM) was cut short after students protested against remarks by Budiman Sudjatmiko, head of the Poverty Alleviation Acceleration Agency. Tensions escalated when he challenged students to criticise directly rather than on social media, leading to chants branding him a 'reform traitor'. The event ended with two other officials engaging in an impromptu dialogue with students outside the venue.

List of Eddy Tansil's Assets Surrendered to the State

The Attorney General's Asset Recovery Agency has surrendered assets worth over Rp82 billion belonging to convicted fraudster Eddy Tansil, who embezzled US$430 million in state funds. The recovered assets include cash, land, villas, and a factory, obtained through negotiations with a bank. Tansil notoriously escaped from prison in 1996 and remains a fugitive 30 years after his conviction.

The 10 Countries with the Most Expensive and Cheapest Electricity Tariffs in the World: Is Indonesia Among Them?

A new report reveals a stark global disparity in household electricity prices, with Bermuda topping the list as the most expensive and Iran as the cheapest. European nations dominate the high-cost rankings due to taxes and green levies, while energy-rich and subsidising countries enjoy the lowest tariffs. Indonesia does not feature in either top 25 list, highlighting the critical role of domestic energy policy and resource availability.

Tina Wiryawati: Islamic New Year a Momentum to Strengthen Compassion and National Spirit

West Java DPRD member Tina Wiryawati has urged the public to use the Islamic New Year 1448 Hijriah for self-reflection and to bolster social solidarity. She emphasised that the spirit of hijrah should translate into concrete actions such as improving worship and fostering mutual cooperation. The Gerindra politician also called on the youth to build optimism and strong character to contribute to the region's development.

KPK Probes Additional Hajj Quotas and Traces Assets in Examination of Three Witnesses

Indonesia's Corruption Eradication Commission (KPK) is investigating the allocation of additional hajj quotas and tracing assets linked to suspects in a graft case that caused potential state losses of Rp622 billion. Three witnesses, including an apartment manager and company directors, were questioned on 15 June 2026. The probe forms part of efforts to recover state finances in the scandal involving former Religious Affairs Minister Yaqut Cholil Qoumas and several other officials.

Indonesian Government Responds After US-Iran Peace Agreement

Indonesia has welcomed the peace agreement between the United States and Iran, viewing it as a positive step towards resolving conflict in the Middle East. Jakarta praised the efforts of all parties and mediators involved and urged continued restraint and constructive dialogue. The government reaffirmed its readiness to support regional peace and stability in line with international law.

Bareskrim Uncovers 'Instant Noodle Cannabis' Modus from Pekanbaru to Malang, Courier Arrested

The Indonesian National Police's Criminal Investigation Agency (Bareskrim) has dismantled a drug trafficking operation that disguised over 5 kilograms of cannabis in instant noodle packages. A controlled delivery operation led to the arrest of a 37-year-old man in Malang, East Java, who allegedly acted as the recipient and distributor. The case highlights ongoing efforts by authorities to intercept narcotics smuggled through commercial courier services.

Indonesian Tycoon Fled to Singapore a Century Ago Due to Crushing Government Tax Pressure

The recent trend of Indonesian conglomerates relocating to Singapore echoes a historic precedent from the 1920s, when sugar magnate Oei Tiong Ham moved his entire business empire. Facing punitive and arbitrary tax demands from the Dutch colonial government that consumed up to 50% of his income, Oei sought refuge in Singapore's more favourable fiscal climate. His relocation resulted in a dramatic reduction in tax liability and massive asset acquisitions, highlighting the long-standing risk of aggressive tax policies driving away capital.

BNN Kepri Uncovers Vape Drug Ring, Seizes 246 E-Cigarettes Containing Narcotics in Batam

The National Narcotics Agency of the Riau Islands (BNN Kepri) has dismantled a narcotics distribution operation using vapes, arresting three suspects in Batam. Authorities seized 246 vape devices suspected of containing the narcotic substance etomidate. The case was developed following a public tip-off and subsequent surveillance of the suspects.