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Backgrounder
Tenggara Backgrounder June 28, 2024
POLITICS
Will Jokowi hold sway over regional elections even after stepping down?
With four months left in office, President Joko "Jokowi" Widodo has already consolidated his political influence for the next five years. Apart from president-elect Prabowo Subianto pledging to carry on the current government's programs and having hi...
Politicians take another shot at government's lucrative haj monopoly
The Religious Affairs Ministry's monopoly in sending Indonesians on the annual haj pilgrimage to Mecca, Saudi Arabia, is a multi-billion-dollar enterprise that leaves it vulnerable to criticism. This election year has been no exception.
From Nusantara to private meeting: Is Prabowo still an ally of Jokowi?
As president-elect whose campaign promised the continuation of President Joko "Jokowi" Widodo's programs, Prabowo Subianto has yet to make a definitive stand regarding the future of one of Jokowi's most prized legacies, the new capital of Nusantara....
Close ties with establishment wins NU lucrative coal mining business
Nahdlatul Ulama (NU) is set to receive a coal mining permit from the government after President Joko ‘'Jokowi'' Widodo signed Government Regulation No.25/2024 that opens up opportunities for faith-based mass organizations to participate in the indust...
BUSSINES & ECONOMICS
OJK loses court battle to Kresna Life, again
The OJK has suffered another legal setback against Kresna Life Insurance. This defeat took place at the PTUN on June 14, where OJK's appeal to maintain the revocation of Kresna Life's license was overturned. The OJK is now contemplating a cessation a...
Kimia Farma delays subsidiary IPO, closes half of factories due to losses
The OJK is investigating reports of possible financial misconduct at state-owned pharmaceutical company PT Kimia Farma (KAEF). This investigation stems from massive losses attributed to poor management and allegations of financial engineering by subs...
Govt reassures budget deficit to stay below 3 percent of GDP in 2025
Representatives of the incumbent government and the Prabowo-Gibran Transition Team held a press conference on Monday to address market concerns following Morgan Stanley's decision to downgrade Indonesian equities to "underweight." They announced a Rp...
Local businesses unfazed as competitiveness exceeds Japan, UK
President Joko "Jokowi" Widodo and his ministers have boasted the government's success in boosting Indonesia's competitiveness to surpass that of Japan and the United Kingdom, with the country placing 27th out of 67 countries in this year's IMD WCR,...
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