MK’s ruling on MBG: Implications

Jul 31, 2026 | Market

The Constitutional Court ruled on Thursday (30/07) that the MBG budget must be separated from the education budget, with the change taking effect no later than 2028. But why wait until 2028? And what could the ruling mean for both the MBG program and education...

Barito Renewables = 10x Pertamina Geothermal?

Jul 31, 2026 | Market

Shares of Barito Renewables (BREN) ended lower by 1.5% Thursday (Jul 30) to make a market capitalization of Rp434.8 trillion. Shares of Pertamina Geothermal (PGEO), meanwhile, closed higher by 1% to make a market cap of Rp42.7 trillion. Barito Renewables remains 10...

The hidden fiscal cost of selective generosity

Jul 31, 2026 | Market, Politics

Governments often reveal their true priorities not through speeches, but through budget. Government’s latest decision to increase performance allowances (tunjangan kinerja, or tukin) for the military is a telling example. After public criticism over the policy, the...

Salon generals, excavators, and the civilian state

Jul 31, 2026 | Market, Politics

President Prabowo Subianto’s recent remarks about waste management may prove to be more politically significant than they first appeared. His instruction to the TNI commander to check how many Pindad excavators were available for distribution to local...

The constitutional shortcut to free lunch

Jul 31, 2026 | Market, News Group, Politics

The Constitutional Court’s recent ruling separating the Free Nutritious Meals (MBG) program from constitutionally mandated education budget should have settled a fundamental legal question. Instead, it has opened another one: will the government respect the...

Krakatau Posco’s loss expands 46%

Jul 31, 2026 | Industries, Market

State steel manufacturer PT Krakatau Steel Tbk (KRAS) booked net profit of US$9.17 million in the first half of 2026 against net loss of US$107.1 million in the corresponding period last year, but mainly because of divestment of assets and non-cash gain from debt...

Major companies steadily cut workforce

Jul 31, 2026 | Market

Astra International (ASII), Unilever Indonesia (UNVR), and Bank Central Asia (BBCA) have been standard bearers of ‘quality jobs’ in Indonesia for many decades. Unfortunately, these companies have steadily cut their workforce in recent years. As mentioned earlier,...

Mining solution & heavy equipment drag down Astra

Jul 31, 2026 | Market

Shares of Astra International (ASII) ended slightly lower by 0.2% to Rp4,950 Thursday (Jul 30) when the conglomerate reported 19.4% fall in net profit to Rp12.5 trillion for the first half of 2026, dragged down by mining solution and heavy equipment business segments....

Febrie’s case & high-profile names (2)

Jul 30, 2026 | Law

Extortion is daily menu in Indonesia’s law enforcement agencies. Some business people paid US$60 million to escape prosecution, while S$5 million could be enough only for avoiding such process in four years before eventually being named suspect in bribery case....

Dedi Mulyadi’s rising electability

Jul 30, 2026 | Politics

The latest survey by Saiful Mujani Research and Consulting (SMRC), released on Wednesday (29/07), revealed a striking shift in Indonesia’s early 2029 presidential landscape. West Java Governor Dedi “KDM” Mulyadi emerged as the candidate with the highest electability,...