Stories from Jakarta · Indonesia

The financial services sector in Indonesia grew by 7.92%, marking its highest growth rate since 2021.

Indonesian internet firm GoTo expects to deliver up to $197 million in profit for the current year. The company is best known for ride-hailing and e-commerce services. Net income for the January to March quarter reached approximately $15 million.

Indonesia's financial services sector grew by 7.92 percent, marking its highest growth rate since 2021. The OJK reported that the financial services sector continues to strengthen the national economy.

Indonesia is working to accelerate the implementation of a Free Trade Agreement with the Eurasian Economic Union.

Indonesia and Thailand have agreed to renew their bilateral partnership focused on the creative economy sector.

Fifteen people are reported dead following an incident in Jakarta. Local hospitals are managing the casualties, with victims being distributed across five or six different hospitals in the area. The city of Jakarta has a population of approximately 40 million people. Reports indicate a long-distance train attempted to apply brakes to avoid the collision but failed due to limited time and technology. Investigators have not yet released a formal cause. Public criticism has increased regarding the safety of the railway system used in the recent Jakarta accident. Residents are calling for safer infrastructure, according to reports from a Jakarta correspondent. Public sentiment indicates a demand for increased safety measures within the network. The criticism follows an accident that has prompted calls for systemic improvements.

The Indonesian Financial Services Authority (OJK) reported that the financial services sector grew by 7.92 percent, marking its highest growth rate since 2021.

The Indonesian financial services sector grew by 7.92 percent, marking its highest growth rate since 2021. OJK reported that the financial services sector continues to increase its contribution to the economy.

Indonesia currently applies import duties ranging from 5% to 15% on plastic products and 5% on liquefied petroleum gas. The volume of imports may be increased by an additional 50 million barrels to fill Indonesian storage systems. This policy aims to establish LPG as an alternative raw material to replace naphtha, which is currently difficult to obtain. The decision specifically targets the petrochemical and plastics sectors. This follows a review of zero-percent subsidies for various polymers including polypropylene, polyethylene, LLDPE, and HDPE. Officials noted that domestic LPG industry development is hindered by limited local production of C3 and C4 raw materials. The government is also considering coal downstreaming as part of its energy strategy. The Indonesian government is considering the removal of taxes on plastic and Liquefied Petroleum Gas (LPG).

A security sector worker from the United Arab Emirates reported that a February delivery to the Middle East remains stuck in Indonesia. The worker stated that Middle East clients are currently negotiating but refusing to place new orders. The shipment delay is attributed to the Iran War effectively shutting the Strait of Hormuz. Additionally, the source noted that logistics costs have increased significantly due to the conflict. CZI CEO Liao Kewen confirmed that a February delivery is still held in the country. The United Kingdom and France have held meetings regarding the security and reopening of the Strait of Hormuz. Discussions are currently in the early stages. Efforts are being made to support international diplomatic solutions to secure the strait. The situation is impacting global supply chains and energy prices.