https://www.scmp.com/rss/524517/feed The latest news and top stories on Airlangga Hartarto. A prominent Indonesian politician and businessman, he has been central to the nation’s economic strategy. Formerly Minister of Industry and Chairman of the Golkar Party, his career spans significant legislative roles and leadership in diverse private sector enterprises. As a key economic figure, he has overseen efforts to maintain economic stability, promote digital transformation, and drive infrastructure development. His work involves... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Resty Woro Yuniar Resty Woro Yuniar Indonesia has unveiled a new vision to transform the holiday island of Bali into a global finance hub inspired by destinations such as Dubai, Hong Kong and Singapore, but the tourist hotspot faces a raft of systemic and infrastructural hurdles before it can attain the lofty goal. Indonesian Chief Economic Minister Airlangga Hartarto earlier this week said the government was finalising regulations to establish a financial hub in the Kura Kura Special Economic Zone (SEZ) on Serangan island, 500... https://www.scmp.com/week-asia/economics/article/3352624/can-indonesia-turn-holiday-island-bali-global-financial-hub?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352624/can-indonesia-turn-holiday-island-bali-global-financial-hub?utm_source=rss_feed Wed, 06 May 2026 09:42:29 +0000 Resty Woro Yuniar Resty Woro Yuniar The plastic bag is an unlikely symbol of economic frailty. But in Indonesia, the soaring cost of that humble everyday item is raising uncomfortable questions about the country’s future growth prospects. At a market in Depok, south of Jakarta, the plastic bags Budi needs to sell his chicken have nearly doubled in price. “Plastic is really expensive right now,” he said in an interview on April 17. “Usually, I’d have to set aside at least 10,000 rupiah (58 US cents) for plastic bags, but now, I... https://www.scmp.com/week-asia/economics/article/3351248/mixed-bag-indonesias-8-growth-dream-hits-plastic-ceiling?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351248/mixed-bag-indonesias-8-growth-dream-hits-plastic-ceiling?utm_source=rss_feed Sat, 25 Apr 2026 00:00:14 +0000 Reuters Reuters The head of a body representing global airlines said on Wednesday that even if Iran reopened the Strait of Hormuz, it would take months for jet fuel supply to recover given disruptions to Middle East refining capacity. Oil fell below US$100 per barrel after US President Donald Trump said he had agreed to a two-week ceasefire with Iran ‌that was subject to the immediate and safe reopening of the Strait of Hormuz, which normally carries about a fifth of the world’s oil trade. Iranian Foreign... https://www.scmp.com/news/asia/southeast-asia/article/3349353/no-quick-fix-asian-airlines-even-if-iran-reopens-hormuz-iata-chief?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349353/no-quick-fix-asian-airlines-even-if-iran-reopens-hormuz-iata-chief?utm_source=rss_feed Wed, 08 Apr 2026 07:26:07 +0000 SCMP’s Asia desk SCMP’s Asia desk Indonesia and Malaysia have ordered civil servants to work from home to save fuel amid the Iran war but with digital surveillance measures far stricter than those used during the pandemic. Civil servants in Indonesia must activate location tracking and respond to work communications within five minutes. Their Malaysian counterparts must log into a geolocation monitoring system every hour. Those who fail to comply face escalating sanctions. The work-from-home policies, announced within days of... https://www.scmp.com/week-asia/politics/article/3348946/work-home-were-watching-indonesia-malaysia-geo-track-remote-civil-servants?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3348946/work-home-were-watching-indonesia-malaysia-geo-track-remote-civil-servants?utm_source=rss_feed Fri, 03 Apr 2026 08:44:40 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia is accelerating the transition to clean and renewable energy while pushing for more investments in oil and gas projects, critical minerals and rare earth mining, amid the global energy crisis triggered by the Middle East conflict. In the past week, Jakarta signed a raft of deals with international partners to develop renewable and fossil fuel projects, aimed at achieving energy security as an insurance against the impact of heightened geopolitical tensions. Green energy could also... https://www.scmp.com/week-asia/economics/article/3348911/indonesia-rebalances-energy-policy-iran-war-spurs-new-projects?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3348911/indonesia-rebalances-energy-policy-iran-war-spurs-new-projects?utm_source=rss_feed Fri, 03 Apr 2026 06:20:59 +0000 Resty Woro Yuniar Resty Woro Yuniar Every year, roughly half of Indonesia’s 288 million people pack into trains, buses, ferries and cars and head home. The mudik, as the great Eid ul-Fitr exodus is known, is one of the largest annual human migrations on Earth and a ritual of return that defines the end of the holy fasting month of Ramadan. This year, the Ministry of Transportation estimates that 143.9 million journeys will be made. But it could hardly arrive at a worse time for the government’s finances. Oil prices have surged... https://www.scmp.com/week-asia/lifestyle-culture/article/3346886/oil-price-spike-threatens-break-indonesias-budget-144-million-hit-road-eid?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3346886/oil-price-spike-threatens-break-indonesias-budget-144-million-hit-road-eid?utm_source=rss_feed Tue, 17 Mar 2026 10:30:11 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia went to Washington to negotiate a trade deal and came home with more than 200 obligations to America’s nine. A day after the signing, the US Supreme Court struck down the legal basis for the tariff threat that had driven the whole exercise – for a time, at least. Detractors have likened this “agreement on reciprocal trade” to a blank cheque and a surrender of Indonesia’s sovereignty. The government, for its part, calls it a win-win. The deal was signed by President Prabowo Subianto on... https://www.scmp.com/week-asia/economics/article/3345752/indonesias-us-trade-deal-faces-sovereignty-reckoning-home?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3345752/indonesias-us-trade-deal-faces-sovereignty-reckoning-home?utm_source=rss_feed Sat, 07 Mar 2026 03:00:33 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia is trying to engineer a Ramadan spending boost, rolling out transport fare cuts and food handouts to shore up consumption during its busiest shopping season, but economists question how far the temporary support can go in lifting growth. The 12.83 trillion rupiah (US$762 million) stimulus package unveiled ahead of the Muslim fasting month, which culminates in Eid ul-Fitr, is meant to keep people travelling and shopping despite rising food prices and softer purchasing power. In a... https://www.scmp.com/week-asia/economics/article/3343826/will-indonesias-us762-million-ramadan-stimulus-be-positive-boost-economy?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3343826/will-indonesias-us762-million-ramadan-stimulus-be-positive-boost-economy?utm_source=rss_feed Tue, 17 Feb 2026 10:00:23 +0000 Bloomberg,Reuters Bloomberg,Reuters Indonesian Finance Minister Purbaya Yudhi Sadewa pushed back at Moody’s Ratings’ decision to lower the country’s outlook, saying that the nation’s improving growth and controlled deficit were unlikely to result in a credit rating downgrade. “Our economy is improving, deficit is still under control – compared to other countries, we are still in a better position,” Purbaya told reporters in Jakarta on Friday. “There are not strong enough reasons for a downgrade. In fact, we should gradually see... https://www.scmp.com/news/asia/southeast-asia/article/3342597/danantara-indonesia-urges-reform-policy-consistency-after-moodys-warning-shot?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3342597/danantara-indonesia-urges-reform-policy-consistency-after-moodys-warning-shot?utm_source=rss_feed Fri, 06 Feb 2026 04:01:02 +0000 Kolette Lim Kolette Lim Indonesia will press on with reforms of its capital markets and go after market manipulators with the full force of the law well ahead of a May deadline set by leading index MSCI, the country’s top economic minister, Airlangga Hartarto, has vowed. A massive sell-off last Wednesday prompted the government to act, as investors exited after MSCI said it would stop making adjustments to Indonesian stocks, citing a lack of transparency in shareholding structures and concerns over coordinated trading... https://www.scmp.com/week-asia/economics/article/3342275/indonesias-top-economic-minister-vows-capital-market-reforms-not-merely-because-msci?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3342275/indonesias-top-economic-minister-vows-capital-market-reforms-not-merely-because-msci?utm_source=rss_feed Wed, 04 Feb 2026 00:01:44 +0000 Bloomberg Bloomberg Indonesia said it has resolved all substantive issues in trade talks with the US and is on course to sign an agreement in late January, removing a major source of uncertainty for Southeast Asia’s biggest economy. Both countries have aligned on the “crucial issues” in their draft agreement, protecting the mutual interests of both parties, Coordinating Minister for Economic Affairs Airlangga Hartarto said in an online presentation on Tuesday, after meeting with US Trade Representative Jamieson... https://www.scmp.com/news/asia/southeast-asia/article/3337450/prabowo-trump-sign-indonesia-us-trade-deal-january-issues-resolved?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3337450/prabowo-trump-sign-indonesia-us-trade-deal-january-issues-resolved?utm_source=rss_feed Tue, 23 Dec 2025 06:28:21 +0000 Bloomberg Bloomberg US Trade Representative Jamieson Greer is set to speak with a top Indonesian official this week in hopes of salvaging a trade framework at risk of collapsing, the Financial Times reported on Tuesday. Greer will speak to Airlangga Hartarto, the Indonesian coordinating minister for economic affairs, in an effort to revive a deal struck in July that would see US tariffs on Indonesian goods reduced from a threatened 32 per cent to 19 per cent in exchange for a series of concessions. But US officials... https://www.scmp.com/news/asia/southeast-asia/article/3335824/us-says-indonesia-backtracking-trade-pledges-trump-deal-risks-falling-flat?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3335824/us-says-indonesia-backtracking-trade-pledges-trump-deal-risks-falling-flat?utm_source=rss_feed Wed, 10 Dec 2025 01:10:48 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia’s plan to join the Brics-led New Development Bank (NDB) and fulfil a payment requirement for membership has spurred a debate on whether the move is feasible given the country’s strained finances to fund President Prabowo Subianto’s priority projects. Earlier this year, Prabowo announced that Indonesia was planning to join the NDB “to boost the national development transformation” after he met the bank’s chairwoman, Dilma Rousseff, in Jakarta. “The Indonesian government has decided to... https://www.scmp.com/week-asia/economics/article/3329132/will-indonesias-plan-join-brics-bank-lead-heavier-debt-burden?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3329132/will-indonesias-plan-join-brics-bank-lead-heavier-debt-burden?utm_source=rss_feed Wed, 15 Oct 2025 10:45:32 +0000 Resty Woro Yuniar Resty Woro Yuniar Barely had the ink dried on a long-awaited trade pact between the European Union and Indonesia before Brussels proposed another one-year delay to its long-awaited anti-deforestation law. The move drew fierce criticism from environmental groups, who see the move as a capitulation to global trade interests. On September 23, the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), set to take effect in 2027, was concluded after nearly a decade of negotiation. The... https://www.scmp.com/week-asia/health-environment/article/3327396/eu-accused-sacrificing-forests-indonesia-trade-deal-startling-coincidence?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3327396/eu-accused-sacrificing-forests-indonesia-trade-deal-startling-coincidence?utm_source=rss_feed Tue, 30 Sep 2025 11:30:08 +0000 Resty Woro Yuniar Resty Woro Yuniar A US$3.2 billion plan by Indonesia’s flag carrier to buy 50 Boeing aircraft has drawn scrutiny over whether the order is a genuine business decision or a political trade-off linked to Washington’s recent tariff cuts on Indonesian imports. The deal was unveiled by the White House on July 22 alongside news that US President Donald Trump had agreed to reduce his so-called reciprocal tariff on Indonesian imports to the US to 19 per cent from the initial 32 per cent he imposed in April. The joint... https://www.scmp.com/week-asia/economics/article/3320455/garuda-indonesias-boeing-jets-deal-win-win-or-political-trade?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3320455/garuda-indonesias-boeing-jets-deal-win-win-or-political-trade?utm_source=rss_feed Fri, 01 Aug 2025 10:30:09 +0000 Resty Woro Yuniar Resty Woro Yuniar A new trade agreement between Indonesia and the United States has triggered heated debate in Jakarta, with critics zeroing in on controversial provisions allowing the transfer of personal data abroad and relaxing local content requirements for US companies. While officials say the deal is not yet final, observers are split over whether the concessions mark a pragmatic step towards attracting investment or a risky erosion of digital sovereignty and economic self-reliance. The proposed framework,... https://www.scmp.com/week-asia/economics/article/3320307/indonesias-trade-deal-us-ignites-data-privacy-protectionism-concerns?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3320307/indonesias-trade-deal-us-ignites-data-privacy-protectionism-concerns?utm_source=rss_feed Thu, 31 Jul 2025 10:30:43 +0000 Agence France-Presse Agence France-Presse EU chief Ursula von der Leyen and Indonesian President Prabowo Subianto on Sunday announced a “political agreement” to conclude a long-awaited free trade deal, as US leader Donald Trump upends global commerce. “We’re living in turbulent times and when economic uncertainty meets geopolitical volatility, partners like us must come closer together. So today we’re taking a big step forward in this partnership,” von der Leyen told journalists in Brussels. “I am very pleased to report that we have... https://www.scmp.com/news/asia/southeast-asia/article/3318053/indonesia-eu-unveil-political-agreement-trade-deal?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3318053/indonesia-eu-unveil-political-agreement-trade-deal?utm_source=rss_feed Sun, 13 Jul 2025 13:22:54 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia is banking on its rich reserves of critical minerals to persuade the United States to pull back steep looming tariffs – an offer that could appeal to American strategic interests even as concerns remain about regulatory risks and China’s entrenched role in the country’s mineral supply chains. Coordinating Minister for Economic Affairs Airlangga Hartarto has described Indonesia’s critical minerals proposal as its “second-best offer” to avert a looming 32 per cent tariff under President... https://www.scmp.com/week-asia/economics/article/3316837/indonesia-bets-critical-minerals-avert-us-tariffs-will-its-second-best-offer-work?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3316837/indonesia-bets-critical-minerals-avert-us-tariffs-will-its-second-best-offer-work?utm_source=rss_feed Thu, 03 Jul 2025 11:30:08 +0000