When Finance Minister Purbaya Yudhi Sadewa accused local governments of hoarding Rp 233 trillion in banks, his statement ignited a political firestorm. The accusation was simple yet explosive: regions are sitting on piles of idle cash while public projects stall and the economy slows.

Kartini Muljadi, co-founder of Tempo Scan, one of the largest pharmaceutical groups in Indonesia, has passed away on Monday (Oct 20) at 95 years old. She, founder of Kartini & Partner law firm, leaves behind four children and a diversified business group with interest beyond pharmaceuticals.

Shares of Adi Sarana Armada (ASSA), a passenger vehicle lease and logistic company controlled by Triputra Group, ended significantly higher by 6.43% on Monday (Oct 20) as investors responded positively the company’s strong financial performance in the first nine months of 2025.

Shares of Bank Central Asia (BBCA), controlled by Hartono Family, ended higher by 5% to Rp7,875 on Monday (Oct 20) as investors digested financial performance for the first nine months of 2025. BCA, the largest bank in private sector, posted net profit of Rp43.4 trillion in Jan-Sep 2025, an increase of 5.7% from the corresponding period last year.

South Korean fried chicken franchise, BB.Q, is entering the Indonesian market as part of a broader strategy to expand across Southeast Asia and Oceania. The company already signed a master franchise agreement with PT Jakarta Heritage Rasa Harum, a subsidiary of Indonesian food company Gunung Sewu Group in September 2024. Currently, BB.Q operates three stores in Jakarta. 

President Prabowo Subianto sworn in one minister of state-owned enterprises (MSOEs), three deputy ministers of SOEs, one chief (Muliaman Hadad) and one deputy chief of Danantara on October 21 and 22, 2024. In late February 2025, Prabowo appointed Rosan P Roeslani as CEO of Danantara, but keeping him as minister of investment & downstream. 

Deeper involvement of the military in civilian affairs actually started with assignment from then President Jokowi to defence minister Prabowo Subianto to handle food estate project in Central Kalimantan. During later years of his presidency, Jokowi endorsed the military’s leading role in developing food estate in Merauke, Papua despite criticism related to the failure of similar project in Kalimantan.

The Ministry of Cooperatives recently held a groundbreaking ceremony for 800 KDMP (Red-White Village Cooperatives) outlets, which are expected to contribute to the 8% economic growth as envisioned by Prabowo Subianto. Meanwhile, the existing KDMPs are experiencing difficulties in their operations due to financial constraints, particularly the lack of capital injection from the government.

Indonesia’s smartphone market, once an engine of double-digit growth, is entering a period of exhaustion. After a decade of rapid expansion driven by affordable Chinese brands and the growing appetite of middle-class consumers, the market now finds itself in a state of over-competition, eroding margins, and shrinking differentiation.

He was called ‘number eight’ since becoming a captain in the Army’s special force Kopassua. His presidential campaign program was packaged as ‘asta cita’ (eight missions). He was sworn in Indonesia’s eighth president on October 20, 2024. Since then, everything should start with or at least containing the magic number.