Indonesian Political, Business & Finance News

Archive: 15 August 2026

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Sikka Regent Urges Public Vigilance Following Magnitude 7.7 Earthquake

The Regent of Sikka, Juventus Prima Yoris Kago, has called for calm and heightened vigilance after a powerful magnitude 7.7 earthquake struck the Flores Island region in East Nusa Tenggara. While the tsunami risk is considered low, coastal residents are advised to remain alert and follow official instructions.

Magnitude 7.7 Earthquake Shakes East Nusa Tenggara

A powerful magnitude 7.7 tectonic earthquake struck East Nusa Tenggara (NTT) early on Saturday morning, with tremors felt as far away as Lombok in West Nusa Tenggara. The Meteorology, Climatology and Geophysics Agency (BMKG) issued a tsunami early warning after the quake, reporting minor tsunami waves in several locations. Authorities have urged the public to remain calm and await official information regarding aftershocks.

Labuan Bajo Hit by M6.2 Earthquake: Sea Recedes and Power Outages Reported

A magnitude 6.2 earthquake struck Labuan Bajo, East Nusa Tenggara, causing panic among residents and tourists. The tremor was followed by a noticeable recession of the sea and widespread power outages, prompting local authorities to issue a warning. The Meteorology, Climatology and Geophysics Agency (BMKG) recorded a minor 0.3-metre tsunami, though the receding water heightened fears among the public.

NTT Earthquake Update: Tsunami Detected in 10 Regions, NTB - South Sulawesi

A tsunami has been detected across ten regions following a magnitude 7.0 earthquake off the coast of East Nusa Tenggara (NTT). The highest wave, measuring 0.94 metres, was recorded in Maurole, Ende, while residents in the Selayar Islands immediately evacuated to higher ground. Authorities report no structural damage so far, though the event triggered panic and memories of a devastating 2021 quake.

Hajj Fund Law Revision Deemed Strategic to Strengthen Fund Sustainability

A revision to Indonesia's Hajj Financial Management Law is considered a strategic move to enhance the sustainability of the hajj fund through more optimal and accountable investment governance. An Islamic economics expert stressed that efforts to increase returns must be balanced with strong risk mitigation to avoid losses. The revision aims to ensure investments remain sharia-compliant while adapting to global market dynamics.

Iran Challenges Trump, Claims 75% of Missile and Drone Arsenal Intact

Iran has dismissed claims by former US President Donald Trump that its military capabilities have been severely damaged, asserting that 75% of its missile and drone stockpile remains operational. A senior Iranian military commander described the nation's drone systems as a 'nightmare for the enemy' following recent US and Israeli strikes. The development comes as US Vice President JD Vance indicated that lowering domestic fuel prices has overtaken Iran's nuclear programme as Washington's top priority.

Uncovering Unit 731's History Requires Strong International Cooperation

Singaporean historian Lim Shao Bin argues that revealing the full extent of Japan's wartime biological weapons programme, including the lesser-known Unit 9420 in Southeast Asia, demands robust international collaboration. Newly uncovered testimony suggests British prisoners of war may have been subjected to human experimentation, highlighting significant gaps in the historical record. Lim stresses that only coordinated pressure from governments and multidisciplinary academic research can compel nations like Japan and the United States to release remaining classified documents.

Economic Growth Target of 6 Per Cent Cannot Rely on Investment Alone

An economist has warned that Indonesia's 6 per cent economic growth target for 2027 cannot be achieved by relying solely on investment. Despite strong investment figures, much of it is concentrated in capital-intensive sectors, failing to boost the purchasing power of the middle and lower classes. The government must also focus on restoring domestic consumption and ensuring equitable job creation.

M7.7 Earthquake Strikes NTT, Triggers Tsunami Warning and Evacuations

A powerful magnitude 7.7 earthquake struck near Mbay, Nagekeo Regency, East Nusa Tenggara, early on Saturday, causing widespread panic and structural damage. The shallow quake prompted a tsunami warning from the BMKG, leading residents in coastal areas to flee to higher ground. A 0.94-metre tsunami was later detected in Maurole, Ende, as authorities continued to assess the full extent of the damage.

2027 State Budget Rises to Rp 4,097 Trillion, Purbaya Confirms Deficit Remains Safe

Finance Minister Purbaya Yudhi Sadewa has assured that the 2027 State Budget deficit will remain below 3 per cent, despite a 6.6 per cent increase in the draft budget to Rp 4,972.2 trillion. The government projects the deficit will actually decline to Rp 671.2 trillion, or 2.40 per cent of GDP, supported by a forecast 12.1 per cent rise in tax revenue. Purbaya indicated that strong tax collection growth and efforts to formalise the economy could further improve the fiscal outlook.

Magnitude 7.7 Earthquake Shakes Nagekeo, East Nusa Tenggara; Homes Damaged in Labuan Bajo

A powerful magnitude 7.7 earthquake struck Nagekeo Regency in East Nusa Tenggara early on Saturday, prompting a tsunami early warning from the BMKG. The tremors were felt strongly across Flores and as far away as Kupang, causing panic among residents. Several homes in the coastal village of Nggilat, West Manggarai, near Labuan Bajo, were reported damaged.

Tsunami Detected in Baubau and Bulukumba Following M7 Earthquake in NTT

A tsunami was detected in Baubau, Southeast Sulawesi, and Bulukumba, South Sulawesi, following a magnitude 7 earthquake centred in Mbay, East Nusa Tenggara. The Meteorology, Climatology, and Geophysics Agency (BMKG) reported wave heights of 0.3 metres in Baubau and 0.54 metres in Bulukumba. Earlier, a 0.94-metre tsunami was recorded in Maurole, NTT, with smaller waves detected in Kawapante and East Flores.

Tsunami Hits Several Regions in NTT and South Sulawesi, Reaching Nearly One Metre

A tsunami triggered by a magnitude 7 earthquake off Nagekeo, East Nusa Tenggara, struck multiple coastal areas on Saturday morning. The Meteorology, Climatology and Geophysics Agency (BMKG) reported wave heights of up to 0.94 metres in Maurole, with several other regions also recording smaller surges. Authorities had earlier issued tsunami warnings for eight areas following the powerful tremor.

Waqf and the Capital Market in Indonesia

Professor Raditya Sukmana explores the growing intersection of Islamic endowments (waqf) and the financial sector, highlighting recent legal and product innovations in Indonesia. He argues that the long-term nature of capital market instruments aligns well with the perpetual character of waqf, citing examples like the Cash Waqf Linked Sukuk (CWLS) and the Zam Zam Tower. The article addresses public concerns about investment risk, emphasising that competent fund management and risk mitigation are key, while the real loss lies in leaving waqf assets unproductive.

Selayar Residents Feel Strong Tremors from M7 NTT Earthquake: 'I Was Reciting the Quran and Ran'

A magnitude 7 earthquake that struck Mbay, Nagekeo, East Nusa Tenggara, was strongly felt by residents on Selayar Island, South Sulawesi, causing panic. The Meteorology, Climatology and Geophysics Agency (BMKG) issued an early tsunami warning for several regions across NTT, NTB, South Sulawesi, and Southeast Sulawesi. Local residents described rushing out of their homes as the tremors intensified.

Magnitude 7 Earthquake Shakes NTT, Triggers Tsunami

A magnitude 7 earthquake struck the Nagekeo region of East Nusa Tenggara (NTT), triggering a tsunami that impacted several coastal areas. The Meteorology, Climatology, and Geophysics Agency (BMKG) reported the highest wave, measuring 0.94 metres, was detected in Maurole, Ende Regency. The quake occurred early on Saturday morning, prompting authorities to issue and update tsunami early warnings.

Tsunami Detected in Several Regions After M7.7 Earthquake Hits Nagekeo, NTT

A tsunami with a maximum height of 0.94 metres was recorded in Maurole, Ende, following a magnitude 7.7 earthquake that struck Nagekeo, East Nusa Tenggara. The BMKG has issued evacuation recommendations for several northern coastal areas, including Manggarai, Ngada, and Ende, while placing other regions on alert status. Residents in affected areas have been urged to follow local authority directives and move to higher ground immediately.

Witness Account from Selayar Resident During Magnitude 7 Earthquake in NTT

A resident of Selayar Islands, South Sulawesi, has described the panic caused by a powerful magnitude 7 earthquake that struck off the coast of East Nusa Tenggara. The tremors were felt as far away as South Sulawesi and Bali, triggering a minor 0.3-metre tsunami in Labuan Bajo. Authorities issued tsunami warnings for multiple regions across NTT, NTB, Southeast Sulawesi, and South Sulawesi following the event.

Trump Insists on Building $400 Million Ballroom, Supreme Court to Decide

The Trump administration has filed an emergency appeal to the US Supreme Court to allow the construction of a $400 million ballroom at the White House to proceed. The government argues the project is an integrated national security complex, not merely a ballroom, while a lower court ruled that such major changes to federal property require Congressional approval. The Supreme Court's decision is now pending as a deadline looms.

HIPMI Optimistic Indonesia's Economy Can Grow 6% in 2027, Here Are the Conditions

The Indonesian Young Entrepreneurs Association (HIPMI) believes the government's 6% economic growth target for 2027 is achievable, provided that economic stability is maintained and business confidence strengthens. HIPMI stresses that growth must be qualitative, marked by increased investment, business expansion, and job creation, not just a rise in GDP.

Dollar Slumps, Gold Price Surprises with Sudden Surge

Gold prices rebounded on Friday, buoyed by a weaker US dollar and cooling expectations of a Federal Reserve rate hike following in-line inflation data. The precious metal extended its weekly winning streak, while analysts warned that escalating tensions in the Strait of Hormuz could pose a future headwind if rising oil prices reignite inflationary pressures.

30,000 Kopdes Merah Putih Targeted for Completion by End of August, Operations Await Presidential Regulation

Coordinating Minister for Food Zulkifli Hasan announced that the construction of 30,000 Kopdes Merah Putih village cooperatives is targeted for completion by the end of August 2025. The cooperatives will serve as distribution points for government subsidies and aid, including fertiliser and LPG, but their operation is pending the finalisation of a Presidential Regulation. The government aims to have all 30,000 cooperatives fully operational by the end of 2026 to strengthen the grassroots economy.

250 Passengers Safely Evacuated After Mentawai Fast Boat Stranded in Storm Off Padang

Approximately 250 passengers aboard the Mentawai Fast 01 endured a harrowing three-hour ordeal after their vessel ran aground and lost engine power amid a severe storm near Muara Padang, West Sumatra. The fast boat, arriving from Tua Pejat in the Mentawai Islands, was battered by high waves before being successfully towed to safety. Police and a joint rescue team assisted in the evacuation, ensuring all passengers disembarked safely.

Humaniora round-up: MBG monitoring portal launched, Semeru erupts eight times

The National Nutrition Agency has launched a public monitoring portal for the Free Nutritious Meal programme to enhance transparency. Meanwhile, the government is targeting 6.3 million early childhood students for operational assistance to support the 13-year compulsory education policy. In other news, Mount Semeru erupted eight times within six hours, prompting close observation.

BMKG Updates NTT Earthquake to Magnitude 7.0, Tremors Felt in Makassar and Bali

The Meteorology, Climatology and Geophysics Agency (BMKG) has updated the magnitude of the earthquake that struck Nagekeo, East Nusa Tenggara (NTT), to 7.0. The quake, which occurred at sea, was felt across a wide area, including Makassar in South Sulawesi and Denpasar in Bali. The agency reported varying intensities, with some areas experiencing strong shaking that caused objects to fall and woke residents.

BMKG Forecasts Cloudy Weather Across Most of Indonesia on Saturday

The Indonesian Meteorology, Climatology, and Geophysics Agency (BMKG) has forecast predominantly cloudy conditions across much of the country on Saturday. Several major cities including Ambon, Bandung, and Surabaya are expected to be overcast, while Jakarta and Yogyakarta are predicted to enjoy clear skies. Light rain is anticipated in Medan and Pontianak.

Government Targets 2027 Investment of Rp2,322 Trillion

The Indonesian government has set a 2027 investment target of Rp2,322 trillion, up from Rp2,041 trillion in 2026. Investment contributed around 39 per cent to economic growth in the second quarter of 2026, which reached 5.29 per cent year-on-year. The government is directing investment towards creating quality jobs, with first-half 2026 realisation reaching Rp1,010.6 trillion and absorbing 1.45 million direct workers.

Trump Boasts He Will Soon Declare Strait of Hormuz as US Territory

President Donald Trump has claimed the United States will declare the Strait of Hormuz as American territory once Iran is defeated. The statement was made during a political rally in New York, amid an ongoing military conflict with Iran that began in February. The strategic waterway remains a flashpoint, with Iran controlling access for civilian shipping and the US Navy blockading Iranian ports.

Gunungkidul Noodle Seller Claims Legislator Shouted at Her Over Small Change

A noodle vendor in Gunungkidul, Yogyakarta, has alleged that a local legislator threw small change at her and shouted after receiving coins as part of his change. The incident reportedly occurred at Bakmi Mbak Tri Gading on Thursday night and is said to be part of a pattern of rude behaviour by the official. The vendor expressed dismay, stating that public officials should not mistreat ordinary citizens.

M7.7 Earthquake Shakes NTT, Damages Hotels and Public Facilities in Labuan Bajo

A powerful magnitude 7.7 earthquake struck off the coast of Flores, East Nusa Tenggara, causing significant damage to hotels and public infrastructure in the tourist hub of Labuan Bajo. The tremor triggered a tsunami warning and prompted mass panic among residents. Authorities are still assessing the full extent of the damage and potential casualties.

BMKG Issues Tsunami Early Warning After M7.7 Earthquake in Nagekeo, NTT

The Meteorology, Climatology and Geophysics Agency (BMKG) has issued a level two tsunami early warning for several coastal areas following a magnitude 7.7 earthquake that struck off Nagekeo Regency, East Nusa Tenggara. The warning covers parts of NTT, South Sulawesi, West Nusa Tenggara, and Southeast Sulawesi, with several northern coastal districts placed on alert status. Aftershocks continue to be felt across Flores Island and surrounding areas.

The Untold Story of Salim's Routine Pilgrimages to Mount Kawi

A chance encounter on a flight to Hong Kong led Sudono Salim to partner with Mochtar Riady, transforming Bank Central Asia into a national giant. However, newly highlighted accounts reveal that Salim's pivotal business decisions, including this partnership, were often guided by spiritual rituals and a fortune teller at Mount Kawi. The tycoon's blend of sharp business acumen and deep-rooted mysticism shaped the foundation of the Salim Group empire.

0.9-Metre Tsunami Hits Maurole, Ende Following M 7 NTT Earthquake

A tsunami measuring 0.94 metres was recorded in Maurole, Ende Regency, following a magnitude 7 earthquake in Nagekeo, East Nusa Tenggara. The Meteorology, Climatology and Geophysics Agency (BMKG) also detected smaller waves in Kawapante, East Flores, and Labuan Bajo. The event occurred early on Saturday morning, with the highest wave hitting Maurole at 05:27 WIB.

0.3-Metre Tsunami Hits Labuan Bajo After M7.7 Earthquake

A minor tsunami with a height of 0.3 metres was detected in Labuan Bajo following a powerful magnitude 7.7 earthquake off Nagekeo, East Nusa Tenggara. The Meteorology, Climatology and Geophysics Agency (BMKG) confirmed tsunami activity in several locations and maintained a 'Siaga' alert status for eight districts. Local governments have been instructed to direct residents in the affected areas to evacuate immediately.

M7 Earthquake in NTT Triggers Tsunami Warning, Selayar Residents Evacuate to Hills

A magnitude 7 earthquake in Nagekeo, East Nusa Tenggara, triggered a tsunami warning, prompting residents of two sub-districts in the Selayar Islands, South Sulawesi, to immediately evacuate to higher ground. The swift response was attributed to lingering trauma from a devastating 2021 earthquake. Local officials reported no structural damage but confirmed widespread panic among the population.

Three Legendary Buleleng Dances to be Performed En Masse at Bulfest 2026

The Buleleng Festival 2026 will feature mass performances of three legendary local dances—Trunajaya, Wiranjaya, and Palawakya—each involving 50 dancers. The event aims to reconnect the younger generation with the region's artistic heritage, including a performance by the last student of the late maestro I Gede Manik. The festival will adopt an immersive concept, recreating the atmosphere of old Buleleng through traditional markets, cuisine, and historical storytelling.

Papua Conflict Unabated: Three Civilians Shot in Maybrat

Three civilians were shot and wounded in Maybrat Regency, Southwest Papua, allegedly by Indonesian security forces during a military operation. The incident has sparked public protests and calls for an independent investigation.

75 Paskibraka Members Inaugurated for 81st Independence Day Ceremony at IKN

Head of the Nusantara Capital Authority (OIKN), Basuki Hadimuljono, inaugurated 75 flag-hoisting squad members for the 81st Indonesian Independence Day ceremony in Nusantara. The squad comprises former Paskibraka members and selected students who have undergone intensive training. The inauguration marks the readiness of the new capital to host official state ceremonies, with a series of celebratory events planned from 14 to 18 August 2026.

Magnitude 7 Earthquake in Nagekeo, NTT, Felt as Far as NTB, Triggers Tsunami Early Warning

A powerful magnitude 7 tectonic earthquake struck off the coast of Nagekeo Regency in East Nusa Tenggara (NTT) early Saturday morning, with tremors felt strongly on Lombok Island in West Nusa Tenggara (NTB). The shallow quake prompted Indonesia's Meteorology, Climatology, and Geophysics Agency (BMKG) to issue a tsunami early warning, with minor waves subsequently detected in several locations. Authorities have urged the public to remain calm and monitor official information for updates on aftershocks.

BMKG: 8 Regions in NTT and South Sulawesi on Tsunami Alert Status

Indonesia's Meteorology, Climatology, and Geophysics Agency (BMKG) has placed eight regions across East Nusa Tenggara (NTT) and South Sulawesi on alert status following a magnitude 7.7 earthquake. The agency has urged local governments to direct immediate evacuations, with estimated tsunami arrival times ranging from early morning. The tsunami warning, triggered by the quake near Nagekeo, includes potential wave heights of up to three metres.

Jakarta roundup: Hexagon Market tourism target, JAKI app surpasses 7 million downloads

The Jakarta provincial government is targeting the Hexagon Market in North Jakarta to become a tourism extension of the Old Town area. Meanwhile, the city's integrated public service app, JAKI, has been downloaded more than 7.06 million times and now offers 101 features. Other developments include a push by the regional council for dedicated bicycle lane maintenance funding and PAM Jaya's efforts to restore clean water supply on Kelapa Dua Island.

NTT Earthquake Tremors Felt Strongly as Far as Lombok, Residents Panic and Flee

A magnitude 7.0 tectonic earthquake struck Nagekeo, East Nusa Tenggara (NTT), early on Saturday morning, with strong tremors felt as far away as Lombok in West Nusa Tenggara (NTB). The shaking caused widespread panic, with residents in Mataram rushing out of their homes. The Meteorology, Climatology and Geophysics Agency (BMKG) issued an early tsunami warning after detecting minor waves in several locations.

Garuda Indonesia Shares Turn Green Following President Prabowo's 14 August 2026 Speech

Shares of national flag carrier PT Garuda Indonesia (Persero) Tbk. (GIAA) moved into positive territory on Friday, seemingly buoyed by President Prabowo Subianto's remarks on the company's restructuring progress. The president's comments during the 2026 MPR Annual Session appeared to inject a dose of optimism among investors. Despite the daily gain, the stock remains in negative territory on a year-to-date basis for 2026.

BMKG Updates NTT Earthquake to Magnitude 7.0, Tremors Felt from Makassar to Bali

The Meteorology, Climatology and Geophysics Agency (BMKG) has revised the magnitude of the earthquake that struck Nagekeo, East Nusa Tenggara, to 7.0. The shallow quake, centred at sea northeast of Mbay, was widely felt across the region. Tremors were reported as far away as Makassar in South Sulawesi and Denpasar in Bali, with the strongest shaking recorded in Bima and Dompu.

The Test of Bank Indonesia's Independence

The appointment of Destry Damayanti as the sole candidate for Bank Indonesia Governor raises fundamental questions about the boundaries between fiscal-monetary coordination and fiscal dominance. The article argues that central bank independence is not about isolation from government, but about the freedom to act according to its mandate without being dictated by short-term political or fiscal interests. It warns that the true test of independence lies in whether the central bank can make necessary but politically inconvenient decisions when data demands it.

Government to Cut Fuel Subsidies, Purbaya Reveals the Reasons

The Indonesian government plans to significantly reduce fuel subsidies in the 2027 state budget, with the social protection allocation set at Rp 549.9 trillion. Finance Minister Purbaya Yudhi Sadewa explained the reduction is driven by a lower assumed Indonesian crude price of US$75 per barrel, down from US$83. The move will be accompanied by incentives for one million domestically produced electric motorcycles to reduce import reliance and foster a national EV industry.

Red and white never discriminates

Independence Day celebrations at care homes in Surabaya highlighted the deeper meaning of freedom for the elderly and disabled, emphasising their right to participation and dignity. The events serve as a reminder that Indonesia's ageing population, which reached 11.97 per cent nationally in 2025, requires inclusive development beyond mere material assistance. The festivities underscore the need for urban planning that provides equal space and psychological well-being for all citizens.

BMKG Issues Tsunami Early Warning for NTT, NTB, and South Sulawesi

The Meteorology, Climatology, and Geophysics Agency (BMKG) has issued a tsunami early warning for parts of East Nusa Tenggara, West Nusa Tenggara, and South Sulawesi following a magnitude 7.7 earthquake. Modelling indicates potential tsunami waves ranging from 0.5 to 3 metres in several coastal areas. Residents in the affected regions have been urged to remain on alert.

Magnitude 7.0 Earthquake in NTT Felt as Far as Lombok

A magnitude 7.0 tectonic earthquake struck the Nagekeo region of East Nusa Tenggara (NTT) early on Saturday morning, with tremors felt across the island of Lombok in West Nusa Tenggara. The Meteorology, Climatology and Geophysics Agency (BMKG) issued a tsunami early warning following the shallow quake, detecting minor waves in several locations. Residents in Mataram described the shaking as prolonged and disorienting, causing panic during the morning rush.

Powerful earthquake off Indonesia kills one, sparks mass evacuations

A 7.7-magnitude earthquake struck off Flores island in eastern Indonesia, killing at least one person and injuring four, while triggering a brief tsunami warning that sent thousands fleeing to higher ground. The shallow quake caused damage to buildings and prompted evacuations, with authorities warning residents not to return to damaged structures due to aftershock risks. Indonesia's location on the Pacific 'Ring of Fire' makes such seismic events a recurring challenge for disaster management and public safety.