Indonesian Political, Business & Finance News

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The Figure of Try Sutrisno Through Wiranto's Eyes: A Statesman Complete

Wiranto, Presidential Adviser for Political and Security Affairs, has eulogised the late sixth Vice President of Indonesia, Try Sutrisno, as an exemplary figure both as a military officer and statesman. Wiranto praised Sutrisno's unwavering dedication throughout his military career, his constitutional fidelity, and his commitment to serving the people's interests above personal gain during his tenure as Vice President under Suharto. Try Sutrisno passed away at RSPAD military hospital on 2 March

Bank Indonesia Ready to Intervene to Protect Rupiah Amid Iran-Israel-US Conflict Escalation

Bank Indonesia has declared its readiness to intervene in currency markets to stabilise the rupiah amid escalating geopolitical tensions in the Middle East following US-led strikes on Iran, which have triggered global risk-off sentiment and capital flight from emerging markets. The central bank will deploy various intervention instruments across both offshore and domestic markets, including non-deliverable forwards and spot transactions, whilst also optimising its policy mix to support monetary

Block Cuts 4,000 Employees in Aggressive AI-Driven Restructuring Under Former Twitter CEO Jack Dorsey

Block, the fintech company founded by Jack Dorsey (former Twitter CEO), has terminated 4,000 employees—40 per cent of its workforce—as part of an aggressive automation strategy centred on artificial intelligence. The restructuring, reducing the company from over 10,000 to under 6,000 employees, represents one of the most extreme early 2026 examples of AI-driven workforce displacement, with autonomous AI agents set to assume critical functions across customer service, software engineering, and fi

Supermarkets in UAE Face Surge in Purchases; Residents Urged Against Panic Buying

Major retailers across the United Arab Emirates have reported increased demand for essential goods amid heightened regional tensions, but have assured the public that supplies remain stable and supply chains are uninterrupted. Supermarket chains including LuLu Group, Al Maya Group, and Spinneys have emphasised that shelves remain fully stocked, prices are stable, and procurement and logistics teams are working around the clock to maintain inventory levels. Retailers have urged consumers to shop

Ahok Appears as Witness in LNG Corruption Trial Causing $113.8 Million State Loss

Former Pertamina Commissioner Basuki Tjahaja Purnama (Ahok) appeared as a witness in a corruption trial involving alleged mismanagement of liquefied natural gas (LNG) procurement at the state oil company, with two former Pertamina executives facing charges. The Corruption Eradication Commission (KPK) alleges that imported LNG from Corpus Christi Liquefaction was approved without proper procurement guidelines or technical and economic justification, resulting in a $113.8 million state loss, with

Wiranto Pays Respects to Try Sutrisno: We Have Lost a Role Model

Wiranto, Presidential Special Adviser for Politics and Security, visited the residence of Indonesia's sixth Vice President Try Sutrisno, who passed away on 2 March at the age of 90. Wiranto reflected on Sutrisno's distinguished military career and his commitment to national service, describing him as a true exemplary figure and soldier who never ceased his struggle for the nation throughout his decades of service.

The Legacy of Try Sutrisno: From the Independence Revolution to the Peak of State Power

General Try Sutrisno, Indonesia's 6th Vice President, has passed away on 2 March 2026 at the age of 90, leaving behind a significant legacy spanning from the independence struggle to the highest echelons of state power. Rising from humble beginnings in Surabaya during the Dutch military aggression, Sutrisno built a distinguished military career that culminated in his appointment as Commander-in-Chief of the Armed Forces (Panglima ABRI) in 1988 before becoming Vice President under Suharto from 19

Former Vice President of Indonesia Try Sutrisno Passes Away: A Career Spanning Military and State Leadership

Former Vice President Try Sutrisno, the sixth Vice President of Indonesia who served from 1993 to 1998, has passed away on 2 March 2026 at the age of 90. Having risen from military ranks to become Commander of ABRI before his vice-presidential appointment, Sutrisno's career spanned critical periods in Indonesian history, including the Talangsari Incident and events in East Timor. After leaving office, he remained politically active, serving as chairman of the military retirees association and la

Oil Prices Surge Amid Israel-Iran Conflict as Supply Disrupted

Global crude oil prices surged sharply at the beginning of the week, with Brent crude reaching US$76.43 per barrel and WTI climbing to US$70.05 per barrel, driven by rising geopolitical tensions in the Middle East. Market participants are concerned about potential disruptions to global oil supply, particularly through the Strait of Hormuz, a critical chokepoint for energy distribution from major producing nations to Asian markets. Prices are expected to remain elevated while geopolitical uncerta

Constitutional Court Rejects Petition to Impose Community Service Sanctions for Smoking While Driving

Indonesia's Constitutional Court rejected a petition filed by Syah Wardi challenging the constitutionality of Articles 106 and 283 of the Law on Road Traffic and Transportation (UU LLAJ), which govern safe driving requirements. The court deemed the petition inadmissible due to incomplete evidence and the petitioner's failure to appear at the case review hearing. The petitioner had sought stricter penalties, including mandatory community service or driving licence suspension, for drivers caught s

Eid al-Fitr Ruling Session Held on 19 March, No Longer at Hotel

Indonesia's Ministry of Religious Affairs will hold the 2026 Eid al-Fitr ruling session (sidang isbat) on 19 March at the H.M. Rasjidi Auditorium in Jakarta, marking a return to the government facility after the Ramadan determination session was previously held at a hotel. The session will involve astronomical experts from the Meteorology, Climatology and Geophysics Agency (BMKG), the National Research and Innovation Agency (BRIN), planetariums, observatories, and Islamic civil society represent

Pramono Pays Respects to Former Vice President Try Sutrisno: We Have Lost a Father of the Nation

Jakarta Governor Pramono Anung visited the home of the deceased former Vice President Try Sutrisno on 2 March 2026, expressing profound loss over Sutrisno's passing at RSPAD Gatot Soebroto hospital. Pramono, who knew Sutrisno since 1995, described him as a founding father figure who dedicated his life to the nation, noting that Sutrisno's spirit remained undiminished despite health deterioration in recent days.

East Kalimantan Governor Returns Rp 8.49 Billion Range Rover Official Vehicle

East Kalimantan Governor Rudy Mas'ud has officially decided to return a newly procured Range Rover 3.0 LWB valued at Rp 8.49 billion that had sparked controversy on social media. The decision, made after consultation with state oversight institutions including the Ministry of Home Affairs, the Anti-Corruption Commission, and the Supreme Audit Board, demonstrates the governor's commitment to public trust and good governance principles.

Antam Gold Prices at Pegadaian on 2 March 2026, Buyback Up

Antam gold prices at Pegadaian remained stable on Monday, 2 March 2026, with selling prices holding steady whilst buyback prices increased. The 1-gram gold bar was quoted at Rp3,332,000 with a buyback price of Rp2,933,000 (up Rp36,000), whilst the 0.5-gram variant was priced at Rp1,721,000 with buyback at Rp1,466,000 (up Rp18,000).

UAE Closes Stock Market for Two Days Following Iranian Attack

The United Arab Emirates has ordered its stock exchanges—the Abu Dhabi Securities Exchange and Dubai Financial Market—to remain closed on 2 and 3 March following Iranian missile and drone attacks on the region, amid growing economic disruption across the Gulf. The two-day closure affects assets worth billions of dollars as investors await clarity on the extent of damage from weekend attacks targeting airports, ports, and residential areas across the UAE and broader Gulf region. Regional stock ma

Try Sutrisno Passes Away; Yusril: Indonesia Loses a Principled Statesman

Indonesia's sixth Vice President, retired General Try Sutrisno, has passed away at the age of 90. Coordinating Minister for Law, Human Rights, Immigration, and Correctional Affairs Yusril Ihza Mahendra paid tribute to Sutrisno as a principled military officer and statesman of humble character, noting his significant contributions to the nation throughout his service in various strategic governmental positions.

Police Pursue Most Wanted Drug Trafficker 'Boy', Who Paid Protection Money to Former Police Chief

Indonesian police have issued wanted notices for Hamid alias 'Boy', a drug trafficker accused of paying 1.8 billion Indonesian rupiah in protection money to former Bima City Police Chief AKBP Didik Putra Kuncoro through an intermediary. Police also issued wanted notices for two other suspects linked to major drug trafficking networks operating in West Nusa Tenggara, with authorities conducting coordinated manhunts across multiple regions.

Government Ensures Hotel Sultan Employees to Join New Management

The Indonesian government has assured that all Hotel Sultan employees will be incorporated into the new management of Block 15 in the Gelora Bung Karno (GBK) Complex. The dispute involves the state recovering assets from PT Indobuildco for failure to pay royalties, with the State Administrative Court ruling on 26 February strengthening the government's legal position. The government emphasises its commitment to employee welfare and good governance in the transition and asset recovery process.

Pertamina Implements Measures to Maintain Operational Continuity and Crew Safety in Middle East Amid Iran-Israel Conflict

Pertamina is implementing comprehensive measures to maintain Indonesia's energy security amid the Iran-Israel conflict, prioritising worker safety and operational continuity through risk mitigation and coordination with government agencies. The company is leveraging its diversified supply portfolio and domestic refinery operations to ensure stable fuel and LPG availability for the Indonesian market despite geopolitical tensions in the Middle East.

Pertamina Strengthens Operational Oversight Amid Middle East Geopolitical Crisis

PT Pertamina has intensified operational monitoring and risk mitigation measures in response to escalating geopolitical tensions in the Middle East following recent military strikes. The state-owned energy company is coordinating closely with Indonesia's Ministry of Foreign Affairs and diplomatic missions to ensure the safety of personnel and continuity of energy supply, whilst maintaining oversight of three strategically important entities operating in the region. Through diversified supply sou

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263,685
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1012
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1994-2026
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