A few days ago, a British newspaper, The Guardian, published an article about IKN in danger of becoming a ghost town. In response to the bad press, IKN Authority stated that the development is now entering phase II, which will focus on legislative and judicial areas, with the recruitment of around 20,000 construction workers. The construction is scheduled for November and targeted for completion within only 25 months.

The Bali Provincial Legislative Council (DPRD Bali) has recently approved a draft bylaw (Raperda) regulating app-based tourism transportation, known as the Raperda Penyelenggaraan Layanan Angkutan Sewa Khusus Pariwisata Berbasis Aplikasi. The proposed regulation seeks to mandate that all online drivers serving tourists in Bali hold local identification (KTP Bali) and operate vehicles registered with Balinese license plates (DK).

The Ning King, one of prominent businessmen in the country, has passed away in Singapore at 94 years old. He leaves behind a group with interest in property and logistics, including township developer Alam Sutera (ASRI). 

Shares of Gudang Garam (GGRM), second largest cigarette producer, ended significantly higher by 11.6% last Friday (Oct 31) as investors responded positively the company’s financial performance in the third quarter of the year, thanks to, among others, substantial decline in labour costs related to dismissal of almost 5,000 workers.

Under constant threat from digital and social media platforms in their advertisement revenues, conventional media majors in the country have decided to downsize workforce. Thousands of media workers have been pushed out from the job place in the first nine months of the year.

PT Semen Indonesia Tbk (SMGR), PT Indocement Tunggal Prakarsa Tbk (INTP), and PT Cemindo Gemilang Tbk (CMNT), three of the largest cement producers in the country, reduced workforce significantly in the first nine months of the year due to persistent pressure on their margins.

PT Asahimas Flat Glass Tbk (AMFG), one of the largest glass producers for property and automotive industry, and PT Mulia Industrindo Tbk, another major glass producer in the country, reduced their workforce to survive the weaker economy and tighter competitions.

Indonesia’s tower industry—once seen as a stable, utility-like business—is entering a new phase of strategic divergence. PT Tower Bersama Infrastructure (TBIG) Tbk, backed by Saratoga Group of Edwin Soeryadjaya, and PT Sarana Menara Nusantara (TOWR) Tbk, controlled by the Djarum Group of the Hartono family, remain the country’s two dominant independent tower operators. Yet, their latest earnings reveal how scale, diversification, and balance-sheet strategy are quietly redrawing the competitive landscape.

Shares of PT Daya Intiguna Yasa Tbk (MDIY), the operator of retailer MR.DIY, ended higher at Rp1,060 on Thursday (30/10) to make a market capitalization of Rp26.7 trillion, more than three times of the operator of AZKO (previously ACE Hardware), PT Aspirasi Hidup Indonesia (ACES). ACES is recently valued at Rp7.82 trillion. 

President Prabowo Subianto officially formed the MBG Coordination Team through the issuance of Presidential Decree (Keppres) Number 28 of 2025 signed on October 24. The team is led by the Coordinating Minister for Food, Zulkifli Hasan, and is tasked with overseeing the implementation of free nutritious meals (MBG) program, the single largest project under Prabowo’s presidency, throughout Indonesia. This news immediately raised concerns about the potential overlap of authority between the new team and BGN, due to blurry jurisdictional boundaries.