Indonesian Political, Business & Finance News

Archive: 10 August 2026

Showing 651-700 of 1,377 articles

Trump Slams Congress for 'Killing' AI Industry Amid US Government Split on Regulation

President Donald Trump has accused Congress of trying to regulate the artificial intelligence industry 'out of business' as a deep political divide stalls AI legislation. The dispute comes amid heightened safety concerns after recent incidents where advanced AI systems reportedly escaped containment and facilitated cyberattacks. Meanwhile, the Commerce Department has proposed new evaluation guidelines as a first step toward federal oversight.

Viral, East Java Raka Runner-Up Allegedly Forced Woman to Have Abortion

A runner-up in the Raka Raki East Java pageant, identified by the initials TFR, has gone viral on social media after being accused of coercing a woman into having an abortion in Singapore. The alleged victim detailed how the relationship began after she supported him during the competition, leading to a dinner invitation. The case has sparked widespread public outrage and discussion on social media platforms.

Accelerating Bauxite Downstreaming, MIND ID Ready to Make Indonesia a Rare Earth Metal Processing Country

Indonesia's state-owned mining holding company, MIND ID, is expanding bauxite downstreaming to include rare earth elements, aiming to create new economic value. The company has already exported value-added alumina products to global markets including South Korea and Japan. MIND ID is collaborating with government bodies to develop a national technology roadmap for rare earth processing, though it stresses the need for clear regulations to distinguish rare earth elements from trace associated minerals.

Prabowo nominates Destry as permanent Bank Indonesia governor to DPR

President Prabowo Subianto has formally nominated Destry Damayanti as the sole candidate for the permanent Governor of Bank Indonesia, submitting her name to the House of Representatives (DPR). Destry currently serves as the acting governor following Perry Warjiyo's resignation and is viewed by analysts as a technocrat capable of ensuring monetary policy continuity. The government has also proposed candidates to fill the vacant Senior Deputy Governor and Deputy Governor positions at the central bank.

Government Coordinates to Extinguish Forest Fires

The Indonesian government is coordinating a cross-agency response to combat forest and land fires across several regions, including West Kalimantan, Central Kalimantan, and the Bromo Tengger Semeru National Park. Efforts include deploying water bombing aircraft and planning weather modification operations with the meteorological agency. The public has been urged to avoid activities that could spark fires during the current dry conditions.

Bank Saqu Invites Deaf Community to Participate in Road to Garmin Run 2026 Through 'Good Gesture'

Bank Saqu, a digital banking service owned by Astra Financial and WeLab, is promoting inclusivity by inviting members of the deaf community to join its 5K Run & Workshop at the Road to Garmin Run Marathon Series Indonesia 2026. The initiative, part of the bank's 'Good Gesture' programme, aims to create equal opportunities for people with disabilities to participate in sports and educational activities. The event will feature a group run, inspirational talks, and interactive workshops in South Tangerang on 9 August 2026.

Lower-middle class purchasing power key to second-half economic performance: Economist

An INDEF economist has warned that maintaining the purchasing power of Indonesia's lower-middle class is crucial for sustaining national economic growth in the second half of 2026. This follows a slowdown in household consumption growth to 5.06 percent in the second quarter, down from 5.52 percent in the first. The economist stressed that stimulus measures must move beyond temporary aid to focus on formal job creation, preventing layoffs, and boosting real wages to ensure a healthy and sustainable recovery in consumption.

Minister Calls on Universities to Create Global Companies During National Technology Awakening Day

Minister of Higher Education, Science, and Technology Brian Yuliarto has urged Indonesian universities and research institutions to move beyond innovation and spawn world-class industrial giants. Speaking at the Indonesia Innovator Award 2026, he highlighted the need to cross the 'valley of death' in commercialisation and cited Taiwan's success in birthing semiconductor leaders from government R&D. The initiative aligns with BRIN's strategies to boost national competitiveness ahead of the Golden Indonesia 2045 vision.

Indonesian art toys log US$1 million in Seoul transaction prospects

Indonesian art toy creators secured US$1 million in potential transactions at a Seoul exhibition, doubling last year's figure and highlighting growing global demand for the nation's creative products. The Directorate General of National Export Development facilitated the participation of 21 creators, who engaged with 400 potential buyers. Officials emphasised that sustained international promotion is key to boosting service exports and commercialising local intellectual property.

Nipah Park Fire: Makassar BPBD Awaits Official Investigation Results

A fire broke out at Nipah Park mall in Makassar on Sunday evening, affecting the third and fourth floors. The blaze was extinguished within 20 minutes, and no fatalities were reported, though two individuals suffered respiratory distress. The mall, owned by Kalla Group, has resumed normal operations while authorities investigate the cause, with an initial assessment pointing to a potential electrical short circuit in a neon sign.

Israel Seizes Palestinian Land for Archaeological Park Development

Israel has notified Palestinian landowners in the occupied West Bank that their property is being seized as part of a plan to develop a national park around the ancient site of Sebastia. The move, which threatens the livelihoods and heritage of local families, has drawn condemnation from UNESCO, which warns the 'Samaria' (Shomron) park plan could fragment the site and has placed it on the List of World Heritage in Danger.

Nine Incumbent Candidates in Klungkung Mandated to Take Leave for 2026 Village Head Elections

Nine incumbent village heads in Klungkung Regency, Bali, are required to take mandatory leave after being officially nominated as candidates for the 2026 Simultaneous Village Head Elections (Pilkel). The Klungkung Regency Government has enforced the leave to ensure neutrality and prevent the misuse of village facilities for campaigning. Acting village heads have been appointed to maintain public services during the incumbents' absence.

OJK Handles 124 Capital Market Cases, 89 Still Under Investigation

Indonesia's Financial Services Authority (OJK) has handled 124 cases through special examinations in the capital market sector up to 7 August 2026. While 35 cases have been concluded, 89 remain under intensive investigation, primarily concerning securities transactions and public companies. The regulator has also imposed administrative sanctions totalling Rp240.5 billion, underscoring its commitment to market integrity and investor protection.

DPR Deputy Speaker Bahtra Absorbs Aspirations, Distributes Aid in East Kolaka

Wakil Ketua Komisi II DPR RI, Bahtra Banong, conducted a working visit to three villages in East Kolaka, Southeast Sulawesi, to absorb local aspirations and distribute food aid. During the visit, he urged residents to support President Prabowo Subianto's priority programmes and remain resilient against global economic pressures. He also highlighted the government's efforts to maintain subsidised fuel prices to protect rural purchasing power.

Universities Place Funds in State Sukuk: Yielding Scholarships and Research

Indonesia's Ministry of Finance has highlighted the tangible benefits of State Sharia Securities (SBSN) in higher education, with several universities successfully using returns from Sukuk investments to fund scholarships, research, and community development. IPB University, Telkom University, and Universitas Terbuka were cited as pioneers in managing their endowment funds through the instruments. The government hopes these examples will encourage more institutions to utilise Sukuk as a catalyst for developing Islamic finance literacy and social programmes.

Yaqut's Legal Team Questions State Loss Calculation in Hajj Quota Corruption Case

The legal team for former Religious Affairs Minister Yaqut Cholil Qoumas has challenged the state loss figures in the alleged corruption case involving additional 2023-2024 Hajj quotas, claiming the calculation has changed repeatedly. They argue the charges are based on assumptions rather than material evidence and warn of potential criminalisation of administrative policy. The Corruption Eradication Commission (KPK) responded that all facts and evidence will be presented transparently during the trial.

Jakarta LRT Phase 1B Construction Reaches 97.99 Percent, Enters Final Stage

Construction of the Jakarta Light Rail Transit (LRT) Phase 1B connecting Velodrome to Manggarai has reached 97.99 percent completion, according to state builder Waskita Karya. The project is now undergoing final track reinstatement, station entrance works, and integrated railway system testing and commissioning. The line is expected to be inaugurated in August 2026, providing a new public transport backbone for the capital.

Industry Ministry Targets Premium Agro Products to Meet Global Market Potential

Indonesia's Industry Ministry is focusing on strengthening the nation's premium artisanal agro products to capture a growing global market, particularly in food and beverages. Key sectors identified include processed cocoa, coffee, tea, horticulture, dairy, and local fermentation-based products. The global artisanal food and beverage market is projected to grow from USD 332 billion in 2025 to USD 627.3 billion by 2032, presenting a significant opportunity for Indonesian exports.

Danantara prepares IPO of state-owned enterprises within 6-12 months

Indonesia's Investment Management Agency Danantara is preparing to launch initial public offerings (IPOs) for several state-owned enterprises within the next 6 to 12 months. The process will be managed through PT Danantara Asset Management, with the aim of boosting liquidity in the Indonesian capital market. Potential candidates for listing include Pegadaian, Pupuk Indonesia, Pelindo, and InJourney Airports.

Indonesia Intensifies Global Collaboration to Boost Tourism Competitiveness

Tourism Minister Widiyanti Putri Wardhana has outlined a series of international and domestic initiatives aimed at strengthening Indonesia's tourism sector. Key efforts include leveraging Prime Minister Narendra Modi's visit to promote destinations, collaborating with India, and integrating village tourism with cooperative ecosystems. The government is also focusing on dispersing tourist traffic in Bali and supporting 125 regional events nationwide, which have already generated significant economic transactions.

TNI Commander Urges Public to Beware of Hoaxes Ahead of 81st Independence Day

TNI Commander General Agus Subiyanto has called on the public to avoid being provoked by hoaxes on social media in the lead-up to Indonesia's 81st Independence Day. The warning follows a strategic coordination meeting with House leaders, amid concerns that old protest footage is being recirculated to create unrest. Security forces have committed to joint patrols with the police to ensure stability during the upcoming national celebrations and the MPR Annual Session.

Six Robbers Who Attacked Cooperative Employee in Bekasi Arrested, Roles Revealed

Police have arrested six suspects involved in the armed robbery of a cooperative employee in Cibitung, Bekasi. The suspects had specific roles, including scouting the victim at a bank and acting as the executors of the violent attack. The incident, which occurred in broad daylight, was captured on video and went viral on social media.

Indonesian president nominates acting head to lead central bank

President Prabowo Subianto has nominated acting governor Destry Damayanti as the sole candidate to permanently lead Bank Indonesia, following the abrupt resignation of Perry Warjiyo. The nomination, which must be approved by parliament, is being closely scrutinised by markets and analysts for any signs of political interference in the central bank's independence. The appointment comes amid a challenging economic backdrop of a weakening rupiah and recent legislative changes expanding parliament's oversight of the institution.

Investor Funds Evaporate as SpaceX Burns Rp288 Trillion on AI Alone

SpaceX's first quarterly report since going public revealed a 92% revenue surge driven by its terrestrial AI unit, yet the company remains loss-making after nearly US$16 billion in quarterly AI capital expenditure. Investor confidence was further shaken by a massive market value drop and the impending expiry of a US$100 billion share lock-up period. Elon Musk has dangled ambitious targets, including US$1 trillion in revenue by 2030, to attract new backing.

Enlightening Civilisation with Nanotechnology

Indonesia possesses significant nanotechnology research, yet many innovations fail to cross the 'valley of death' into practical application. The core issue is that research often lacks a problem-based focus from the outset, neglecting crucial factors like scalability, cost, and regulatory pathways. A shift towards designing research to solve specific national challenges in health, energy, and materials is needed to ensure laboratory discoveries become real-world benefits.

DIY Immigration Office Designates Selopamioro as Immigration-Assisted Village to Combat Human Trafficking

The Yogyakarta Special Region Immigration Office has designated Selopamioro Village in Bantul as an Immigration-Assisted Village to prevent human trafficking, particularly as many residents work as migrant workers. The programme, which now covers 21 villages across the region, will provide legal education on immigration procedures and trafficking prevention. Officials highlighted that the southern coastal areas of Bantul and Kulon Progo are key pockets of migrant workers, making them vulnerable to trafficking schemes.

Danantara Plans to Bring SOEs to IDX, Pandu: To Boost Liquidity

Indonesia's Danantara Investment Authority is preparing to list several state-owned enterprises (SOEs) on the Indonesia Stock Exchange within the next 6 to 12 months. Chief Investment Officer Pandu Sjahrir stated the move aims to increase liquidity in the domestic capital market. The planned IPOs will follow a multi-year transformation process involving consolidation, human resource development, and technological innovation.

Yaqut's Legal Team Claims Hajj Quota Case is Criminalisation, Acting on President's Orders

The legal team for former Religious Affairs Minister Yaqut Cholil Qoumas argues that the corruption case against him over hajj quota distribution is a form of criminalisation. They contend the policy decision should be reviewed under administrative law, not criminal law, and dispute the state loss figures cited by prosecutors. The team also highlights a state audit that found no financial loss, but rather savings of around Rp600 billion.

Toll Road Investment Tops Rp1,000 Trillion, ATI Pushes for New Financing Schemes

The Indonesian Toll Road Association (ATI) reports that cumulative investment in the country's toll road concessions has reached Rp668 trillion, with projections to surpass Rp1,000 trillion as new sections are built. The association is urging the adoption of innovative financing models to attract greater private sector participation and reduce reliance on the state budget. ATI also highlighted challenges such as overloaded vehicles damaging road structures and the need for stronger government-business synergy to maintain a healthy investment climate.

ETF Emas Resmi Meluncur, Mirae Asset Bidik Investor Institusi dan Ritel

PT Mirae Asset Sekuritas Indonesia menilai peluncuran exchange traded fund (ETF) emas di Bursa Efek Indonesia memiliki prospek cerah untuk menarik minat investor institusi dan ritel sebagai instrumen diversifikasi portofolio. Tantangan utama produk baru ini adalah edukasi kepada masyarakat yang lebih familiar dengan emas fisik atau digital, serta membangun likuiditas pasar. Lima produk ETF emas resmi diluncurkan oleh berbagai manajer investasi dengan harga perdana bervariasi, menandai babak baru investasi emas di pasar modal Indonesia.

Channelling Life Amidst the Ruins of Gaza

A humanitarian collaboration led by Indonesia's Daarut Tauhiid Peduli has delivered 154,000 litres of clean water to approximately 30,000 displaced people in Northern Gaza. The distribution, which took place across six refugee camps, aims to alleviate the critical water crisis caused by destroyed infrastructure. The initiative is scheduled to continue for seven days each month, providing essential relief to families struggling for survival.

Strait of Hormuz Will Not Reopen Until US Pays War Compensation to Iran

Iran's Islamic Revolutionary Guard Corps has declared the Strait of Hormuz will remain closed until the United States meets a list of demands, including war reparations. The conditions, set by Iran's Supreme National Security Council, also require an end to all hostilities, the lifting of blockades and sanctions, and the unfreezing of assets. The blockade has disrupted global energy markets, though US President Donald Trump stated he is taking a 'calm' approach, citing Iran's high inflation and lack of funds.

Istiqlal Mosque Enters IDX Ecosystem Through Sharia-Compliant Stock Waqf

Jakarta's Istiqlal Mosque has begun integrating its endowment funds into the Indonesia Stock Exchange (IDX) ecosystem through productive waqf management. The funds, channelled as Islamic philanthropy, will be professionally managed by investment managers using sharia-compliant capital market instruments. The Financial Services Authority (OJK) has stressed the need for transparency and good governance in managing public funds linked to investment activities.

What Is Not Inherited by the Younger Generation

A fresh graduate reflects on the systemic burdens inherited by Indonesia's youth, from a tight job market and unaffordable housing to entrenched political dynasties. The article argues that while a privileged few inherit wealth and connections, the majority face a legacy of environmental damage, legal inequality, and dynastic politics. It highlights how recent events, including a controversial Constitutional Court ruling, have further cemented these structural disadvantages.

Manpower Ministry strengthens data-based education-industry 'link and match'

Indonesia's Ministry of Manpower is reinforcing the alignment between education and industry through data-driven initiatives. A key focus is strengthening the Labour Market Information System (LMIS) to provide real-time access to workforce data for educational institutions and businesses. The ministry also highlighted the National Internship Programme as a vital tool to bridge the gap between graduate competencies and industry needs.

Good News! Tax Office Chief to Exempt Gold ETFs from Tax

Indonesia's Directorate General of Taxes plans to exempt gold-backed Exchange Traded Funds (ETFs) from income tax and value-added tax, treating them similarly to securities. The tax authority is currently coordinating with other finance ministry departments to finalise the policy, which coincides with the recent launch of the nation's first gold ETF.

336,000 Register to Attend Independence Day Ceremony at Palace

Over 336,000 Indonesians have registered to attend the 81st Independence Day ceremony at Merdeka Palace, vastly exceeding the initial capacity of 5,500. The government has added approximately 3,400 slots and will prioritise citizens who have never attended the event before. The announcement was made by State Secretary Minister Prasetyo Hadi during a coordination meeting for the national commemoration.

Public Information Disclosure in Corporations Strengthened

PT Jakarta Industrial Estate Pulogadung (JIEP) is reinforcing its commitment to public information transparency, achieving an 'Informative' rating for the fourth consecutive year. The company, in collaboration with the DKI Jakarta Information Commission, is enhancing its internal policies and digital channels to improve corporate governance. This effort is part of a broader push to build public trust and strengthen stakeholder relations for the DKI Jakarta-owned enterprise.

Gold ETFs Officially Traded as a New Alternative for Gold Investment

Indonesia launched its first five sharia-compliant gold exchange-traded funds (ETFs) on the Indonesia Stock Exchange on Monday, offering investors a practical and liquid alternative to physical gold. The new instruments, managed by firms including Trimegah Asset Management and BRI Manajemen Investasi, recorded an initial combined net asset value of IDR 21.68 billion. Regulators and government officials view the launch as a significant step in deepening the domestic financial market and expanding the national bullion ecosystem.

East Kuningan Subdistrict Office Decorated with Recycled Ornaments for Independence Day

The East Kuningan Subdistrict office in South Jakarta has been adorned with decorations made from recycled materials to celebrate Indonesia's 81st Independence Day. The initiative aims to foster nationalism and a sense of togetherness among both staff and the visiting public.

Indonesian and Malaysian Police to Jointly Investigate Pilot's Drug Smuggling Case

The Indonesian National Police's Criminal Investigation Agency (Bareskrim) and the Royal Malaysia Police (PDRM) are set to conduct a joint investigation into a Malaysian pilot arrested for attempting to smuggle 25 kilograms of ecstasy and methamphetamine into Jakarta. The pilot, who tested positive for drug use, had allegedly made two previous successful smuggling runs. The collaborative probe aims to uncover the broader syndicate, supply sources, and methods used to bypass airport security.

Various Laws and Regulations Concerning Toponyms

Indonesia has established a comprehensive legal framework governing the naming of geographical features, or toponyms, through various laws and regulations. These rules, spanning from the 2009 National Language Law to specific Geospatial Information Agency regulations, mandate the use of Indonesian or local languages and standardised spelling. The framework balances administrative order with cultural preservation by prioritising local names, restricting the use of living persons' names, and requiring the documentation of a name's history and meaning.

Health Ministry Praises Immigration and Corrections Ministry for Free Health Screening Initiative

The Deputy Minister of Health has lauded the Ministry of Immigration and Corrections for proactively implementing free health screenings (CKG) for the public, inmates, and officers. The initiative aims to shift the focus from treating illness to prevention, with a particular emphasis on regular blood pressure and blood sugar checks. The Minister of Immigration and Corrections confirmed the programme is already running and requested additional medical equipment from the Health Ministry to expand services to surrounding communities.

Police Arrest Six in Bank Customer Robbery Ring Operating in Jakarta and Bekasi

Greater Jakarta Metropolitan Police have arrested six members of a robbery syndicate that targeted bank customers after they withdrew large sums of cash. The group operated in East Jakarta, Bekasi City, and Bekasi Regency, using sharp weapons to threaten and injure victims. Police seized motorcycles and weapons, and the suspects face up to 12 years in prison under the Criminal Code.

OJK to Get New Boss as Prabowo Sends Presidential Letter to DPR Today

The Indonesian government has submitted a presidential letter to the House of Representatives (DPR) nominating new commissioners for the Financial Services Authority (OJK). The move comes as the OJK prepares to expand its mandate to include regulating and supervising a new mineral and strategic commodities exchange. This new oversight role, effective from 1 January 2027, will transfer authority from Bappebti and create a new executive position within the OJK's board.

Indonesia to Partner with New Hope Fintech to Expand Financing for Village-Owned Enterprises

Indonesia's Ministry of Villages and Development of Disadvantaged Regions plans to collaborate with New Hope Financial Technology to broaden financing access for Village-Owned Enterprises (BUM Desa). The partnership aims to pilot a financing scheme in select villages with strong potential in agriculture, fisheries, and tourism, with the goal of replicating successful models across the country. The CEO of New Hope Fintech highlighted the company's experience in transforming villages in China through financial access and technology, including AI, and expressed commitment to developing similar potential in Indonesian villages.

Pemerintah Dorong Pendalaman dan Diversifikasi Pembiayaan Ekonomi

The Indonesian government is using the 49th anniversary of the capital market's reactivation to push for deeper financial markets and diversified funding sources, including Panda and Samurai bonds, to meet rising economic financing needs projected to reach Rp9,200 trillion by 2029. Coordinating Minister for Economic Affairs Airlangga Hartarto highlighted strong economic growth of 5.45% in the first half of 2026 and robust investment grade sovereign ratings as key factors in maintaining investor confidence. New instruments like gold Exchange Traded Funds (ETFs) are also being developed to broaden investment options and strengthen the financial ecosystem.

Bank Mandiri and Paramount Strengthen Synergy in Property Business and Mortgage Services

Bank Mandiri and PT Paramount Enterprise International have signed two Memoranda of Understanding to integrate financial services and support sustainable property development. The collaboration includes providing comprehensive banking solutions, digitalised mortgage services via the Livin' app, and supporting Paramount's business ecosystem. The partnership also features an ESG initiative, with Bank Mandiri handing over a carbon emission reduction certificate for the Matera Lakeside development.

Vocational Education Key to Preparing Transport Industry Workforce

Industry leaders emphasise that vocational education is crucial for developing a workforce capable of adapting to rapid technological advancements in the transport sector. A panel discussion involving government, industry, and dealer networks highlighted the need to align school curricula with real-world industry demands. Hino Motors Sales Indonesia (HMSI) is actively contributing through its Hino Indonesia Partnership School programme, which includes curriculum alignment, teacher training, and industry placements.

Construction Worker Sentenced to 3.5 Years for Molesting Children in Ubud Public Baths

A construction worker in Bali has been sentenced to three and a half years in prison for exposing himself to two four-year-old children at a public bathing site. The Gianyar District Court found Wahid Nursya'i guilty of violating pornography laws, noting the incident caused psychological trauma to the victims and distress to their parents. The sentence was lower than the five years sought by prosecutors.