Indonesia

INDONESIA: Almost a decade ago, Indonesia was dubbed one of the “Fragile Five” developing markets, a group of countries whose economies are particularly sensitive to capital flight and a depreciation of their currencies in response to an increase in global interest rates. The greatest economy in Southeast Asia and its capital markets have shown extraordinary resilience during a new wave …

INDONESIA: Indonesia and the United Arab Emirates signed a free trade deal on Friday (Jul 1), enhancing economic links between the two countries. The agreement, signed during Indonesian President Joko Widodo’s visit to Abu Dhabi, eliminates or significantly reduces taxes on most commodities exchanged between the Muslim countries. A reduction or elimination of duties on Emirati petrochemical and rubber products …

INDONESIA: Russian President Vladimir Putin received a message from Ukrainian President Volodymyr Zelenskyy through Indonesian President Joko Widodo, who was in Moscow on Thursday (Jun 30). Putin met with Indonesian President Joko Widodo more than four months after Moscow launched a military attack in Ukraine. Currently preparing to host the G20 summit in Bali in November, Indonesia is the rotating …

INDONESIA: Raihan Fauzi, 25, had been looking forward to this game his entire life. Surabaya Persebaya and Bandung Persib were scheduled to face each other on June 17. The match was held in Persib’s home ground, Gelora Bandung Lautan Api (GBLA), where the contest was held. With the help of his distant relative, Asep Ahmad Solihin, 29, known as Ahmad, …

JAKARTA: Investigators are looking into potential irregularities in the procurement of Bombardier and ATR planes, Indonesia‘s attorney general said on Monday (June 27), in agreements the state auditor said resulted in US$600 million losses. From 2005 to 2014, Emirsyah Satar served as the flag-CEO, carrier’s and he was sentenced to eight years in prison in 2020 for bribery and money …

INDONESIA: Joko Widodo gifted new Australian Minister Anthony Albanese with a bamboo bicycle when he toured the presidential palace gardens south of Jakarta earlier this month. As soon as Singgih Susilo Kartono realized the leaders would be riding the Spedagi model he had handcrafted in a little town on the island of Java, he was ecstatic. During the symbolic bike …

JAKARTA: Due to concerns from two creditors, the ratification of Garuda Indonesia’s deal to restructure the airline’s more than 9 billion dollar debt has been postponed for a week, according to an administrator. Garuda’s restructuring proposal was approved by the majority of its creditors last week, and the agreement was set to be formalized in a meeting on Monday. The …

INDONESIA: Indonesian President Joko Widodo announced a cabinet overhaul on Wednesday, June 15, in response to outrage over a series of policy shifts on palm oil exports. During an official ceremony at the presidential palace, the president named Zukifli Hasan, the chairman of the National Mandate Party (PAN) and a former forestry minister, as the country’s new commerce minister. The …

Indonesia – Indonesia has sought aid from G20 member nations to set up a worldwide investment organization to address destiny pandemics, Indonesian spokesperson on the G20, Siti Nadia Tarmizi, has stated.   “Indonesia is pushing for a worldwide settlement to construct fitness resilience thru the established order of a Financial Intermediary Fund (FIF) as an attempt to mobilize investment reassets and …

Indonesia – Indonesia may be facing another legal crisis as the  controversial draft criminal law is imminent (a complete review of the current criminal law). Deputy Minister of Justice and Human Rights Edward Omar Sharif Heariezi said the  law  should be passed by July this year at the latest, but the date has not been released. A draft of the …