Indonesian Political, Business & Finance News

Archive: 14 August 2026

Showing 1,251-1,300 of 1,860 articles

Prabowo Praises PT Timah Governance Overhaul and Illegal Mining Crackdown

President Prabowo Subianto has lauded the improved governance at state-owned tin miner PT Timah, linking a crackdown on illegal mining in Bangka Belitung to a dramatic financial turnaround. The company's first-half 2026 net profit soared over 800 percent year-on-year to Rp2.71 trillion, already exceeding its full-year target. The president vowed to continue large-scale reforms across all state-owned enterprises to safeguard national assets.

IHSG Strengthens as Analyst Says President's Speech Spurs Investor Buying Interest

The Jakarta Composite Index (IHSG) closed higher in the first trading session, with an analyst attributing the rise to President Prabowo Subianto's state address boosting investor appetite, particularly for state-owned enterprises. The speech is seen as a significant market-moving event, with participants closely watching for policy directions on the economy, fiscal matters, and investment. However, the analyst cautioned that further gains would require improved corporate fundamentals and noted the risk of short-term profit-taking.

Prabowo: Gold Bank manages 153 tonnes of gold in a year, valued at Rp360 trillion

President Prabowo Subianto announced that Indonesia's national bullion bank has managed 153 tonnes of gold worth Rp360 trillion in its first year of operation. The service, launched in February 2025, has seen significant growth in customers and gold savings at both PT Pegadaian and Bank Syariah Indonesia. The President emphasised that this initiative aims to help the nation regain control over its gold wealth to strengthen the domestic economy.

Prabowo Orders Finance Minister to Investigate Customs Amid Ongoing Smuggling

President Prabowo Subianto has instructed Finance Minister Purbaya Yudhi Sadewa to investigate the Directorate General of Customs and Excise due to persistent smuggling activities. The directive, issued during a state address, marks a renewed challenge to the agency despite recent acknowledgements of its improved performance. Prabowo had previously threatened to dissolve the customs authority and replace it with SGS if no progress was made.

MSCI Freezes Indonesian Stocks, Foreign Capital Outflows Surge

Morgan Stanley Capital International (MSCI) has frozen Indonesian stocks in its latest index review, removing GoTo from its Global Standard Index and nine others from its Small Cap Index. The decision, which leaves only Charoen Pokphand Indonesia in the MSCI indices, reflects weakening global investor confidence and has contributed to significant foreign capital outflows from the Indonesian market. An analyst attributed the structural issue to a lack of transparency regarding beneficial ownership.

Prabowo to Add Three Smart Screens to Indonesian Schools, Here's the Objective

President Prabowo Subianto has announced a major expansion of digital learning facilities, aiming to equip every Indonesian school with four interactive flat panel screens. The initiative is part of a broader, historic school renovation programme targeting 100,000 institutions by 2029. The technology will allow teachers nationwide to access standardised and international curricula, with top educators broadcasting lessons from centralised studios.

Expert Views Kebaya as Symbol of Diplomacy in State Forums

Fashion expert Lisa Fitria has highlighted the kebaya worn by House Speaker Puan Maharani at the 2026 MPR Annual Session as a powerful tool of cultural diplomacy. She argued the traditional garment is highly relevant in professional and international settings, carrying a message far beyond mere fashion. The choice of an olive-green kebaya was seen as a successful blend of formal state attire with modern, humanist aesthetics.

Here's Why Prabowo Wants Primary School Children to Start Learning Foreign Languages

President Prabowo Subianto has announced plans to introduce foreign language instruction from the first grade of primary school, aiming to boost the global competitiveness of Indonesian talent. He believes early exposure to languages like English, Mandarin, and Arabic will help future workers secure jobs abroad, particularly in science and technology. The initiative is part of a broader strategy to break the cycle of poverty through improved education infrastructure.

Prabowo Invites Two Sekolah Rakyat Students, Rizky and Citra, to Share Their Stories

President Prabowo Subianto introduced two students from the government's Sekolah Rakyat programme during a parliamentary session, highlighting their personal struggles and the programme's role in providing a second chance at education. Muhammad Risky Pratama, who once pedalled kilometres to sell fish, and Citra Nur Ramadhani, who nearly dropped out to support her disabled mother, were presented as examples of the initiative's impact. The President noted that 182 Sekolah Rakyat have now been established to help underprivileged children.

Prabowo Slams 'Barbaric' Corruptors Targeting Free Nutritious Meals Programme

President Prabowo Subianto has launched a scathing attack on individuals involved in corruption within the Free Nutritious Meals (MBG) programme, labelling them 'barbaric' and unworthy of respect. He emphasised that the programme is critical for tackling the country's 25 per cent stunting rate and ensuring children can learn without hunger. Prabowo reaffirmed his commitment to continuing the initiative with improvements and greater efficiency.

Prabowo Appreciates Danantara's Performance, Promises Leadership with Honours

President Prabowo Subianto has commended Danantara for its role in reforming state-owned enterprises (SOEs), which has led to significant profit increases across multiple sectors. He highlighted a surge in net profit for companies like PT Timah and projected a fourfold rise in net dividend contributions by 2026. The improved performance is being channelled into downstreaming projects and global acquisitions to strengthen Indonesia's economic position.

Prabowo Claims State Saves Rp 50 Trillion After Closing 290 SOEs: Funds Previously Spent on Directors' Salaries and Business Travel

President Prabowo Subianto announced that the restructuring of state-owned enterprises (SOEs) has resulted in savings of Rp 50 trillion, primarily by eliminating overhead costs such as directors' salaries and official travel. The government has closed 290 out of 1,074 SOEs and aims to retain a maximum of 300 by the end of 2026. The savings are projected to reach Rp 70 trillion and will be redirected towards improving public services like community health centres, schools, and housing.

Chinese, Thai Police Dismantle Cross-Border Credit Card Fraud Ring

Police in China and Thailand have jointly dismantled a major transnational credit card fraud syndicate targeting Chinese citizens, resulting in the arrest of nine suspects. The operation uncovered a scheme where a shop in Thailand was used as a front to illegally obtain credit card data, which was then used to create counterfeit cards for fraudulent transactions and money laundering. Authorities have identified financial losses exceeding 5 million yuan linked to the case.

Prabowo Orders TNI Commander and National Police Chief to Investigate Illegal Tin Mines

President Prabowo Subianto has directed the Commander of the Indonesian National Armed Forces and the Chief of the National Police to investigate officials suspected of involvement with approximately 1,000 illegal tin mines in Bangka Belitung. The President questioned the purpose of granting rank and position to security apparatus if they remain unaware of such widespread illegal activity. The government had previously shut down the 1,000 illegal mines at the end of last year.

DPD: Prabowo's Economic Transformation Like Removing a Thorn from the Flesh

The Indonesian Regional Representative Council (DPD) has praised President Prabowo's economic strategy, comparing it to the painful but necessary act of removing a thorn from the flesh. DPD Chairman Sultan Baktiar Najamudin stated that the transformation aims to restore state control over natural resources and address critical issues such as import dependency and low added value in the resource sector.

Prabowo Praises Constitutional Court's Digital Access and Supreme Court's Speed in Resolving Cases

President Prabowo Subianto has lauded the judiciary's performance, highlighting the Supreme Court's record speed in resolving cases and the Constitutional Court's improved digital access for citizens. He noted that over 84 percent of Constitutional Court petitions were filed online, enabling nationwide access without requiring travel to Jakarta. The President also emphasised the importance of judicial oversight, revealing that the Judicial Commission had proposed sanctions against 121 judges for ethical violations.

President Prabowo Vows to Continue Free Nutritious Meal Programme with Improvements and Efficiency

President Prabowo Subianto has affirmed his commitment to continuing the Free Nutritious Meal (MBG) programme, emphasising the need for improvements and greater efficiency. Speaking at the MPR Annual Session, he highlighted that tackling malnutrition is fundamental to human development, noting that stunting still affects one in four children in some regions. The President stressed that no child should have to study while hungry, as malnutrition can permanently hinder brain, muscle, and bone development.

Indonesia achieves self-sufficiency in eight food commodities: Prabowo

President Prabowo Subianto announced that Indonesia has achieved self-sufficiency in eight key food commodities, including rice, corn, and soybeans, during his State of the Nation address. He acknowledged that self-sufficiency in garlic, beef, and buffalo meat remains a work in progress, with a three-year target set for garlic. The president attributed the progress to the collective efforts of various parties in strengthening national food security.

President Prabowo says corruptors of free meal programme 'do not deserve respect'

President Prabowo Subianto has strongly condemned any corruption related to the Free Nutritious Meal (MBG) programme, stating that those who steal from children's food are inhumane and undeserving of respect. He emphasised the programme's critical role in combating stunting, which affects one in four Indonesian children, and vowed to continue the initiative with improvements and greater efficiency.

Smuggling Still Rampant in Indonesia, Prabowo Reprimands Bakamla Before DPR-MPR

President Prabowo Subianto publicly reprimanded the Indonesian Maritime Security Agency (Bakamla) during a parliamentary address, questioning why smuggling remains widespread in Indonesian waters. He challenged the agency to reform and also instructed the Finance Minister to investigate the Customs and Excise Directorate General regarding the ongoing smuggling issues.

Prabowo Reveals Strategy to Break Indonesia's Poverty Chain: 182 People's Schools

President Prabowo Subianto has announced the establishment of 182 'Sekolah Rakyat' (People's Schools) as a key strategy to break the cycle of poverty in Indonesia. These boarding schools provide comprehensive support, including accommodation, nutritious meals, and education, to children from the most disadvantaged families. Prabowo highlighted the stories of two students whose lives were transformed by the programme, framing the initiative as a constitutional duty and a vital investment in the nation's future.

Labuan Bajo Sea Procession: Vessels Asked to Avoid Route During Golo Koe Festival

A sacred sea procession featuring a statue of Bunda Maria Assumpta Nusantara will take place in Labuan Bajo as part of the Golo Koe Festival. The Labuan Bajo Port Authority has issued a notice to mariners, requesting all vessels to avoid the procession route and clear the Marina Waterfront area. The event will culminate with thousands of devotees walking in prayer to the Golo Koe cave.

Prabowo: Those Who Corrupt Free Nutritious Meals Are Barbaric and Undeserving of Respect

President Prabowo Subianto has fiercely condemned any corruption within the free nutritious meal programme (MBG), labelling perpetrators as barbaric and devoid of humanity. He highlighted that one in four Indonesian children suffers from stunting, a reality he deems unacceptable, and reaffirmed his commitment to continuing the programme with improvements and greater efficiency. The president stressed that human development is the most crucial investment for the nation's future.

Prabowo Targets Construction of 1,386 Fishing Villages and 30,000 Village Cooperatives by End of 2026

President Prabowo Subianto has announced ambitious targets to build 1,386 Kampung Nelayan Merah Putih (KNMP) fishing villages and establish 30,000 Koperasi Desa Merah Putih (KDKMP) village cooperatives by the end of 2026. The initiative aims to boost the welfare of fishermen and strengthen the grassroots economy, with the fishing villages to be equipped with comprehensive facilities including ports, cold storage, and processing plants. Prabowo also highlighted the need for a modern fishing fleet to capture more of Indonesia's estimated USD34 billion annual fisheries value, which he claims is largely taken by foreign vessels.

Prabowo Reveals 121 Transformative Policies in 21 Months of Work

President Prabowo Subianto has announced that his administration has enacted 121 transformative policies within 21 months, claiming to have resolved long-standing national issues. Speaking at the 2026 Annual Session of the MPR, he stated that a significant policy decision was made every five days. He acknowledged that not all campaign promises have been fulfilled but emphasised that complex, decades-old problems are now being addressed through decisive action and national cooperation.

Prabowo Pledges to Renovate All State Schools by 2029

President Prabowo Subianto has announced a massive nationwide programme to renovate every state school in Indonesia by 2029. The initiative, described as the largest school improvement effort in the country's history, aims to provide better educational environments and includes Islamic boarding schools. The government has already refurbished over 71,000 schools this year and targets 100,000 annually for the next two years.

DPD Applauds Central Government's Regional Spending in Front of Prabowo

The Regional Representative Council (DPD) has expressed its appreciation for the central government's increased spending in the regions during a session attended by President Prabowo. The DPD highlighted the importance of Pancasila and regional autonomy in the nation's development. The council also praised the government's strategic steps to reclaim state control over natural resources for public prosperity.

President Prabowo Reports Rp50 Trillion Savings from SOE Restructuring

President Prabowo Subianto announced that the government has saved over Rp50 trillion by streamlining state-owned enterprises (SOEs), closing 290 unprofitable companies. The restructuring aims to reduce the total number of SOEs to a maximum of 300 by the end of 2026, with the savings earmarked for improving public health centres, schools, and housing.

Thousand Islands Police Plant 2,000 Mangroves and Distribute Social Aid for Independence Day

The Thousand Islands Police, in collaboration with the local administration, planted 2,000 mangrove seedlings to mark the 81st anniversary of Indonesian independence. The initiative aims to protect the coastline from abrasion and strengthen the coastal ecosystem. The event was followed by a social service activity where aid was distributed to residents on Kelapa Island.

Prabowo Sips Coffee During Speech: 'Relax, the Election is Still Far Off'

President Prabowo Subianto lightened the mood during his state address at the MPR Annual Session by joking about the distant 2029 election and praising Indonesian coffee. The President reported on his administration's first 21 months, highlighting the implementation of 121 transformative policies. He reaffirmed his commitment to governing for all Indonesians and resolving long-standing national issues through decisive action and mutual cooperation.

Prabowo Orders Students to Learn Mandarin, Arabic, Japanese, Korean

President Prabowo Subianto has directed the expansion of foreign language education in Indonesian schools, adding Mandarin, Arabic, Japanese, Korean, Spanish, and French to the curriculum. The instruction, delivered during the annual parliamentary session, mandates that language instruction begin from the first grade of primary school. The policy aims to equip the nation's youth with the skills needed to compete in an increasingly dynamic global landscape.

President says investment as instrument for improving public welfare

President Prabowo Subianto has stated that economic growth and investment are not ultimate goals but instruments to improve public welfare, particularly for the most vulnerable. Speaking at the 2026 MPR Annual Session, he emphasised that every rupiah of investment must create jobs and enhance the quality of life for all Indonesians. The President stressed that a G20 nation like Indonesia must not allow any of its citizens to go hungry.

DPD Backs President Prabowo's International Diplomacy

The Indonesian Regional Representative Council (DPD) has expressed full support for President Prabowo Subianto's international diplomacy efforts aimed at fostering a peaceful and just world order. DPD Chairman Sultan B Najamudin highlighted the importance of Indonesia's 'free and active' foreign policy amid deepening geopolitical fragmentation. The DPD is also initiating the formation of a Southeast Asia Senate Forum to strengthen parliamentary cooperation.

Prabowo Targets 30,000 'Red and White' Village Cooperatives by 2026, Citing Soekarno

President Prabowo Subianto has set an ambitious target to establish 30,000 optimally functioning 'Koperasi Desa Merah Putih' (Red and White Village Cooperatives) by the end of 2026. He noted that 10,000 are already operational, providing direct purchasing and transport for agricultural and fishery products. Quoting Soekarno, Prabowo stated that high targets are necessary to drive significant achievement and prevent harvest losses.

Prabowo Confident Indonesia's Economy Will Grow 6% by End of 2026 Through Targeted Policies

President Prabowo Subianto has expressed confidence that Indonesia's economy will achieve 6% growth by the end of 2026, citing progress made in the first half of the year. He stressed that economic expansion and investment are not the ultimate goals, but rather vehicles to improve public welfare, particularly for the lower middle class. The President emphasised that growth must be inclusive, creating jobs and ensuring no segment of society is left behind.

Academic reminds public of sharia principles in choosing investments

An Islamic economics academic has urged Indonesians to apply sharia principles when selecting investments to avoid scams promising outsized returns. She stressed that legitimate sharia-compliant investment requires real economic activity, shared risk, and verifiable legality, rather than passive income guarantees. The public is advised to verify licences and be wary of schemes offering quick, disproportionate profits.

Home Minister Urges Regional Heads to Adopt Technocratic Leadership

Minister of Home Affairs Tito Karnavian has called on regional heads to adopt a technocratic leadership style focused on results and economic growth. He stressed the importance of moving beyond bureaucratic processes to effectively boost local revenue and create a conducive investment climate. The Minister also requested support from the Financial Services Authority (OJK) to assist regional governments in strengthening their economic management.

Prabowo Has Closed 290 State-Owned Enterprises, Saving Rp 50 Trillion

President Prabowo Subianto announced the closure of 290 state-owned enterprises (BUMN), a move he claims has saved the state Rp 50 trillion in overhead costs. The savings, previously spent on directors' and commissioners' salaries and other unproductive expenses, will be redirected towards investment, industrialisation, and public services. The government aims to reduce the total number of BUMNs to just 300 by the end of the year, describing the consolidation as one of the world's largest corporate restructurings.

Prabowo: No Child Should Risk Their Life Going to School

President Prabowo Subianto has stressed the critical need for rural connectivity, announcing the completion of over 3,300 village bridges by the military and police this year. He set a target of 5,000 bridges by year-end, declaring that no child should have to risk their life crossing rivers to attend school. The President also warned regional governments that the central administration would directly intervene if they failed to meet the people's infrastructure needs.

Woman gives birth alone in health centre toilet, baby found dead in bin

A 23-year-old woman allegedly gave birth alone in a toilet at Tambora Community Health Centre in West Jakarta before discarding the newborn in a rubbish bin. The infant, a girl, was discovered by a cleaner who noticed the bin was unusually heavy. Police are investigating the incident and plan to summon health centre staff for questioning.

Indonesia saves US$6.2 bln through audit recommendations, Prabowo says

President Prabowo Subianto announced that recommendations from the Supreme Audit Agency (BPK) yielded state financial savings of Rp112 trillion (US$6.2 billion) throughout 2025. He highlighted the growing international confidence in Indonesian auditors, evidenced by BPK's election to chair INTOSAI and its appointment to the UN Board of Auditors. The President emphasised that such oversight is crucial for ensuring public funds are managed properly and efficiently.

Prabowo Brings Kristina from Papua to MPR/DPR, Reveals Powerful Impact of Free Nutritious Meals

President Prabowo Subianto presented a student from Papua named Kristina to parliament, highlighting the transformative effects of the government's Free Nutritious Meals (MBG) programme. He noted that the initiative has improved her health, focus, and school attendance. Prabowo emphasised that the programme is now helping tens of millions of children across Indonesia to grow healthily and secure a better future.

Prabowo Introduces Joko Purnomo, Who Harvests Up to 9 Tonnes of Rice per Hectare After Fertiliser Price Drop

President Prabowo Subianto introduced Joko Purnomo, a farmer from Ngawi, East Java, during a state address, highlighting his increased rice yields following government interventions. Purnomo's productivity reportedly rose to nine tonnes per hectare after a 20 percent reduction in fertiliser prices and improved irrigation. The President used the example to underscore progress towards national food self-sufficiency.

Prabowo Outlines 6 Key Issues to Resolve Within 21 Months

President Prabowo Subianto has detailed his administration's six priority areas for resolving national issues during his first 21 months in office. The focus includes achieving food and energy self-sufficiency, implementing transformative policies, and streamlining fertiliser distribution. The President emphasised that his mandate is to solve problems, not to explain why they cannot be solved.

Prabowo's Stinging Rebuke to SOEs: Working Recklessly, Disregarding the Government

President Prabowo Subianto has issued a sharp critique of state-owned enterprises (SOEs), expressing astonishment that many operate without accountability to the state. He revealed the number of SOE entities exceeds 1,000, far more than previously estimated, and proposed the establishment of a special ad hoc court to investigate potential issues involving SOE directors over the past three decades. Prabowo also suggested the possibility of a special amnesty for those who admit their mistakes, subject to parliamentary approval.

Prabowo Vows to Continue Free Nutritious Meals Programme with Improvements and Efficiency

President Prabowo Subianto has reaffirmed his commitment to the Free Nutritious Meals (MBG) programme, pledging to continue it with enhancements and greater efficiency. He stressed that human development is crucial for Indonesia's future and must begin with fulfilling basic nutritional needs. The President highlighted that stunting rates in some areas remain as high as 25 per cent, a situation he deemed unacceptable.

Malaysia's economy grows 6% year-on-year in Q2, beating expectations

Malaysia's economy expanded by 6% in the second quarter, surpassing both the official advance estimate of 5.8% and the first quarter's 5.4% growth, driven by stronger exports and resilient household spending. Bank Negara Malaysia Governor Abdul Rasheed Ghaffour indicated full-year growth could reach the upper end of the 4-5% forecast range, while inflation is expected to remain contained due to fuel subsidies and government assistance. The central bank maintained its benchmark interest rate, viewing the current monetary policy stance as appropriate for sustaining price stability and economic growth.

BI Deputy: Rupiah a Symbol of Safeguarding National Sovereignty

Bank Indonesia Deputy Governor Ricky P. Gozali has emphasised that the rupiah serves not only as a financial instrument but as a vital symbol of national sovereignty and unity. Speaking at the opening of the 2026 Sovereign Rupiah Festival, he highlighted the central bank's commitment to ensuring the currency's availability and quality across the entire archipelago. The event also underscored the importance of cross-sector collaboration, including with the military and police, to distribute and protect the nation's legal tender.

Prabowo Slams MBG Programme Corruptors as 'Barbaric'

President Prabowo Subianto has strongly condemned individuals involved in the corruption of the Free Nutritious Meal (MBG) programme, labelling them 'barbaric' and lacking in humanity. Speaking at the annual MPR session, he affirmed his commitment to continuing the programme with improvements and greater efficiency. The Attorney General's Office has recently arrested several suspects, including a former head of the National Nutrition Agency, in connection with the graft case.

MPR Speaker Offers Condolences on Passing of Former Iran Rahbar and Qatar Emir

Indonesia's People's Consultative Assembly (MPR) Speaker Ahmad Muzani expressed deep condolences over the deaths of Iran's former Supreme Leader Ayatollah Ali Khamenei and Qatar's former Emir Sheikh Hamad bin Khalifa Al Thani. Speaking at the MPR Annual Session, Muzani called for an end to wars in the Middle East and globally, emphasising that attacks on sovereign nations are unjustifiable. He urged all countries to prioritise diplomacy and dialogue, asserting that peace requires the courage to place human life above the ambition for power.