INDONESIA UPDATES

Business

Danantara Eyes Strategic Partnership with Australia’s Future Fund to Boost Global Investment Access

Jakarta, Xweb.biz.id – Indonesia’s sovereign wealth fund, Danantara, is in talks to establish a strategic partnership with Australia’s Future Fund, in a major move to attract international institutional capital and drive long-term economic growth. This prospective collaboration follows a bilateral meeting between President Prabowo Subianto and Australian Prime Minister Anthony Albanese during the Indonesia-Australia Annual […]

. 3 weeks ago

Power Outage Strikes Bali, PLN Investigates Cause

Bali, Xweb.biz.id – A widespread power outage affected all areas of Bali on Friday, leaving the Island of the Gods in darkness. The State Electricity Company (PLN) is currently investigating the cause of the disruption, but the exact reason remains unknown. According to I Wayan Eka Susana, the Communications and TJSL Manager for PLN UID […]

. 1 month ago

Prabowo Subianto: Danantara’s Wealth Could Reach USD 1 Trillion Soon

Jakarta, Xweb.biz.id – President Prabowo Subianto has made a bold prediction about the future wealth of the Daya Anagata Nusantara Investment Management Agency (Danantara), stating that its wealth could soon reach USD 1 trillion. During his remarks at the Danantara Town Hall Meeting at the Jakarta Convention Center (JCC) on Monday, April 28, 2025, Prabowo […]

. 2 months ago

Indonesian Furniture Industry Nervous About US Tariff Delay

Jakarta, Xweb.biz.id – Indonesian furniture and craft businesses are worried about the US tariff policy introduced by President Donald Trump, as it might mess up the industry’s performance. Abdul Sobur, the Chairman of HIMKI, said that the US is a huge export market for Indonesia, with 53% of Indonesia’s furniture and craft products going to […]

. 2 months ago

D’Masiv Buys Naming Rights for Transjakarta Bus Stop in South Jakarta

Jakarta, xweb.biz.id – The viral spread of photos showing a Transjakarta bus stop in the Petukangan area, South Jakarta, renamed after the band D’Masiv, has caught public attention. The band’s vocalist, Rian Ekky Pradipta, confirmed the news, revealing that D’Masiv had officially purchased the naming rights to the stop. “D’Masiv at 22 years old bought […]

. 3 months ago

Danantara to Gradually Take Over Indonesia’s Entire SOE Portfolio, CEO Rosan Confirms

Jakarta, xweb.biz.id – Indonesia’s sovereign wealth fund, Daya Anagata Nusantara (Danantara), will oversee the management of all state-owned enterprises (SOEs) as part of an extensive consolidation strategy, CEO Rosan Roeslani announced on Monday at the Presidential Palace. “All SOEs will eventually be consolidated under Danantara,” Rosan stated, marking a significant shift in the country’s approach […]

. 4 months ago

Hutama Karya Commits to Supporting Police Investigation in Djatiroto Sugar Factory Corruption Case

Jakarta, xweb.biz.id – PT Hutama Karya (Persero) has reiterated its commitment to cooperate with the National Police’s Criminal Investigation Department (Bareskrim) in investigating the alleged corruption case surrounding the Integrated Engineering, Procurement, and Construction (EPC) project for the development and modernization of the Djatiroto Sugar Factory in Lumajang, owned by PTPN XI. The case relates […]

. 4 months ago

Climate Change Costs Palm Oil Industry Billions in Lost Yields

Denpasar, xweb.biz.id –  The palm oil industry is increasingly facing severe impacts from climate change, with prolonged droughts and rising temperatures significantly affecting yields in major producing countries, particularly Indonesia and Colombia. As a result, the industry is at risk of losing billions of dollars each year, with urgent action required to secure production and […]

. 4 months ago

Government Spending Cuts Cost Bandung Hotels Rp 12.8 Billion

Jakarta, xweb.biz.id – The government’s aggressive budget cuts have dealt a severe blow to the hospitality sector in Bandung, as hotels report significant losses due to cancellations of government-related events. In February alone, the total revenue loss for hotels in Bandung was estimated at a staggering Rp 12.8 billion, underscoring the far-reaching consequences of fiscal […]

. 4 months ago

Indonesia’s 2026 State Budget to Follow 2025 Austerity Measures

Jakarta, xweb.biz.id – Indonesia’s Finance Minister, Sri Mulyani Indrawati, has confirmed that the 2026 state budget (APBN) will continue the stringent austerity measures introduced in 2025. The government is implementing significant spending cuts across ministries and agencies to maintain fiscal discipline while ensuring essential public services remain unaffected. The 2025 state budget saw a reduction […]

. 4 months ago