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Sri Mulyani Flood: Flowers and Support for Indonesia’s Minister of Finance

by Emma Walker – News Editor
written by Emma Walker – News Editor

Indonesian Finance ⁤Minister Expresses Gratitude Following Show of Support​ After⁢ Home Incident

Jakarta, Indonesia – ‍Finance Minister sri Mulyani Indrawati has publicly thanked the Indonesian people for the outpouring of support she received following a looting incident at her home in Bintaro, South Tangerang, on Sunday. The Minister shared her gratitude via a post on her personal‌ Instagram account (@Smindrawati) on Thursday, accompanied by photos of the numerous ‍bouquets of flowers sent to her.

“Thank you for the support and words of sympathy,” Minister Sri Mulyani wrote. “I am confident that the‍ Indonesian people, all of us, want to continue building and improving Indonesia peacefully, through mutual cooperation and a commitment to unity. This is ‍our source of inspiration and strength.”

The messages accompanying the floral tributes reportedly encouraged the​ Minister to remain steadfast and to continue her dedicated service to the ⁣nation.Minister Sri Mulyani reaffirmed her and the Ministry of Finance’s dedication to diligent and clear governance. “We will continue to work hard, wiht honesty, fairness,‌ openness, transparency,‌ and accountability in carrying out our ‌mandate, and the public’s ‌trust,” she stated.

Concluding her message, the Minister called on⁤ all ⁣indonesians to contribute to national development. “Let’s care for Indonesia. Let’s work together, rise again, and continue the struggle ​to achieve a prosperous and just Indonesia. As I am sure,no struggle is in ‍vain. For our Indonesia,” she said.

Keywords: Sri mulyani, Indonesia, Finance Minister, Looting, Support, Gratitude, National Unity, ⁢Indonesian Economy, Government Transparency.

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News

Sri Mulyani Apologizes After Jakarta Property Looted

by Emma Walker – News Editor
written by Emma Walker – News Editor

Finance Minister Sri Mulyani Responds to Public Outcry Following Property Damage

Jakarta, indonesia – Finance Minister Sri Mulyani Indrawati addressed the Indonesian public today following reports of looting and damage to property during recent demonstrations, acknowledging the widespread discontent and vowing to use criticism as a catalyst for betterment within the Ministry of Finance.

Mulyani framed the situation as both “an honor and simultaneously occurring an remarkable noble task,” emphasizing the complexity of her role and the necessity of understanding the concerns of Indonesian society.She stated the issues at hand concern “the fate of the indonesian people and the future of the Indonesian people.” The Minister’s response comes amid ongoing public debate regarding economic policies and their impact on citizens.

Mulyani expressed gratitude for all forms of feedback, including harsh criticism and even “curses,” viewing them as valuable input for policy refinement. “Thank you to the entire general public including netizens, teachers, lecturers, students, mass media, MSME businesses, cooperatives, large businesses, and all stakeholders who continue to convey input, criticism, satire and even curses, also advice. Also prayer and enthusiasm for us to improve ourselves. It is part of the process of developing Indonesia,” she said.

Though, Mulyani also strongly condemned acts of violence and destruction.She urged citizens to channel their frustrations constructively, stating, “Let’s take care and build Indonesia together, not by damaging, burning, looting, slandering, reproducing, hatred, arrogance, and injuring and betraying the feelings of the public.”

(pta/sfr)

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Business

US-Israel Iran Attack: Indonesia Braces for Impact

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Indonesia on High Alert as US Strikes Iran, Oil Prices Surge

Table of Contents

Jakarta – The escalating conflict between Israel and Iran, now involving direct US military intervention with attacks on Iranian nuclear facilities, has triggered serious concerns in Indonesia. Economists are warning of significant economic repercussions and urging immediate goverment action.

Economists Urge Swift Action to Mitigate Economic Impact

Andalas University economist Syafruddin Karimi emphasized the urgency for Indonesia to address the potential economic fallout. He stated that the conflict’s impact extends beyond the middle East, threatening the economic and geopolitical stability of developing nations, including Indonesia. Karimi called for immediate emergency measures to counter the anticipated surge in global oil prices.

did you Know? the Strait of Hormuz, a critical chokepoint for global oil supplies, sees approximately 21 million barrels of crude oil pass through it daily, representing around 21% of global petroleum consumption[[EIA]. Any disruption there could send prices soaring.

Karimi highlighted that Indonesia’s reliance on energy imports would create a significant fiscal burden if oil prices exceed $100 per barrel. Since June 10, 2025, Brent crude oil prices have already jumped 18%, reaching a nearly five-month peak of $79.04 on June 19, 2025, following the Israeli strikes Nasdaq.

“Delaying the revision of the energy subsidy policy will only worsen the state budget deficit,” Karimi warned.

Rupiah Stabilization and Inflation Concerns

Experts also suggest that Bank Indonesia and the Ministry of Finance must enhance their coordination to stabilize the Rupiah. The current global instability could trigger capital outflows, putting downward pressure on the exchange rate and fueling inflation.

Pro Tip: Monitoring the Jakarta Interbank Spot Dollar Rate (JISDOR) can provide insights into the Rupiah’s performance and potential intervention points for Bank Indonesia.

“Monetary intervention must be accompanied by sharpening policy communication so that the market remains calm,” Karimi added.

Economic Growth at Risk

Bhima Yudhistira, Executive Director of the Center for Economic and Law Studies (Celios), echoed these concerns, noting that the widespread Middle East conflict could significantly drive up oil prices. Higher fuel import costs will likely cause government-regulated price inflation to surge, especially when consumer purchasing power is already weak.

“This is not a good inflation; once the price of fuel rises, forwarded to business actors and consumers makes the growth of household consumption slowed down,” Bhima explained.

A prolonged war could jeopardize Indonesia’s 5% economic growth target, with the external environment posing significant challenges, compounded by government budget inefficiencies.

“the projection if the war lasts longer, the Indonesian economy will only grow 4.5% year on year this year. The more severe to reach the target of 8% of economic growth because the external situation is too heavy,” he said.

Potential Economic Impacts on Indonesia
Factor Potential Impact mitigation Strategy
Oil Price Surge Increased fiscal burden, higher inflation Revise energy subsidies, diversify energy sources
Rupiah Depreciation Increased import costs, capital outflow Monetary intervention, policy communication
Economic Growth Slowed growth, reduced consumer spending Improve budget efficiency, stimulate domestic demand

Indonesia’s Economic Vulnerability: A Ancient Viewpoint

Indonesia’s susceptibility to global oil price fluctuations is not new.Throughout its history, the nation has faced economic challenges stemming from its dependence on imported energy. Past crises have prompted various policy responses, including subsidy adjustments and diversification efforts. Understanding these historical trends is crucial for formulating effective strategies to navigate the current crisis.

Frequently Asked Questions

What other measures should Indonesia consider to protect its economy?

How can individuals prepare for potential economic hardship?

Share your thoughts and concerns in the comments below. Subscribe to our newsletter for the latest updates on the global economic situation.

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News

Heated Cigarette Smuggling Soars 86% – Tax Concerns Raised

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Taiwan Faces Growing Crisis of Heated Cigarette Smuggling

Taiwan is grappling with a significant increase in the illegal trafficking of heated cigarettes, leading to the development of sophisticated underground networks and professional smuggling operations. Recent intelligence suggests that illicit groups are planning to transport large quantities of these products from Southeast Asia, further straining the island’s customs and law enforcement resources. Despite these challenges, the government’s efforts to curb the influx have been largely ineffective, prompting them to seek counsel from major tobacco companies in a move that some critics are calling ironic.

Smuggling Tactics and Trends

According to a customs official, identified as mr.A, smugglers are importing heated tobacco products from Indonesia, pricing them at approximately 600 yuan (approximately $83 USD) per unit. These illicit shipments often involve concealing the heated cigarettes within shipments of wood, such as cypress, to evade detection. If successful, smugglers stand to triple thier investment, capitalizing on the high demand for these products in Taiwan. The relatively lower risk associated with tobacco smuggling, compared to narcotics, has attracted a growing number of individuals, overwhelming customs personnel and leading to significant backlogs of seized goods.

Did You Know? The global tobacco smuggling market is estimated to cost governments $40.5 billion in lost tax revenue annually. (Source: Tobacco Free Kids)

Mr. A highlighted that the “TEREA” brand is especially popular among smugglers targeting the Taiwanese market. One notable incident involved three individuals, one disguised as a monk, attempting to import 560 cartons of heated cigarettes from Narita Airport’s duty-free shop in Japan. Their brazen repackaging of the goods in the airport waiting area was photographed by onlookers and reported to Taiwanese customs. However, authorities beleive this incident represents only a fraction of the total smuggling activity.

Recent Seizures and Law Enforcement efforts

In September of the previous year, a captain named Guo from Kaohsiung was apprehended for attempting to smuggle cigarettes concealed within a secret compartment on his fishing vessel. A joint operation by the Coast Guard Administration and the Kaohsiung Municipal Government’s Tobacco and Alcohol Management Section led to the seizure of 25,000 packs of heated cigarettes, valued at approximately 5 million yuan (approximately $690,000 USD). The cigarettes were hidden inside black waterproof plastic bags within the vessel’s oil tank.

Furthermore, in December, the Coast Guard intercepted an unregistered sampan near Donggang, Pingtung County, discovering hundreds of boxes of heated cigarettes worth over 40 million yuan (approximately $5.5 million USD). The subsequent inquiry resulted in the arrest of 11 crew members from Taiwan,indonesia,and the Philippines,who now face prosecution for violating the Tobacco and Alcohol Management Law.

Pro Tip: Customs agencies are increasingly using advanced scanning technology and data analytics to identify and intercept smuggled goods.

Government Response and Potential Solutions

Faced with the escalating smuggling problem, the Ministry of finance reached out to the Tobacco Association of the Republic of China and five major domestic and international tobacco companies on May 20th, seeking their insights on how to address the issue. Mr. A suggests that legalizing heated cigarettes, implementing a taxation system, and reducing the burden on law enforcement could provide a viable solution.

What long-term strategies could effectively combat the smuggling of heated cigarettes? Should Taiwan consider legalizing and regulating these products to gain better control?

Key Events in Heated cigarette Smuggling in Taiwan

Date Event Details
May 2024 Ministry of Finance Seeks Advice The Ministry of Finance sends a letter to the Tobacco Association of the Republic of China and five major tobacco merchants, seeking insights on solving the private cigarette issue.
December 2024 Coast Guard Interception The fifth coast patrol Team seizes hundreds of boxes of heated smoke,worth over 40 million yuan,from an unregistered sampan near Donggang,Pingtung County.
September 2024 Fishing Boat Seizure Captain Guo from Kaohsiung is apprehended for attempting to smuggle cigarettes hidden in a fishing boat’s secret compartment, resulting in the seizure of 25,000 bags of heated cigarettes.
May 2024 Narita Airport Incident Three Taiwanese individuals, one disguised as a monk, attempt to import 560 heated cigarettes from Narita Airport’s duty-free shop in Japan.

Background on Heated Tobacco Products

Heated tobacco products (HTPs), also known as heat-not-burn products, are devices that heat tobacco to generate an aerosol that users inhale.Unlike traditional cigarettes, HTPs do not burn the tobacco, which manufacturers claim reduces the levels of harmful chemicals produced. Though, the World Health Organization (WHO) states that all forms of tobacco are harmful, including HTPs. The long-term health effects of HTPs are still being studied, but preliminary research suggests they are not risk-free. The global market for htps has grown significantly in recent years, driven by consumer interest in option tobacco products and marketing efforts by tobacco companies. Regulations surrounding HTPs vary widely across countries, with some countries banning them outright and others regulating them similarly to traditional cigarettes.

Frequently Asked Questions About Heated Cigarette Smuggling

  • Why is heated cigarette smuggling on the rise in Taiwan?

    The increased profitability and lower perceived risk compared to drug smuggling have fueled the rise in heated cigarette smuggling in Taiwan.

  • What brands of heated cigarettes are most commonly smuggled into Taiwan?

    The ‘TEREA’ brand of heated cigarettes is reportedly the most popular among those smuggled into taiwan.

  • What methods are smugglers using to bring heated cigarettes into Taiwan?

    Smugglers are known to conceal heated cigarettes within wood containers, such as those containing cypress, and in hidden compartments of fishing boats.

  • What is the government doing to combat heated cigarette smuggling?

    The Taiwanese government has increased customs inspections and is collaborating with coast guard units to intercept smuggling attempts. They have also sought advice from major tobacco companies.

  • What are the potential solutions to the heated cigarette smuggling problem in Taiwan?

    One proposed solution is for the government to legalize heated cigarettes,which would allow for taxation and regulation,potentially reducing the incentive for smuggling.

  • What are the health risks associated with smoking heated cigarettes?

    Like traditional cigarettes, heated cigarettes pose risks to both physical and mental health. Further research is ongoing to fully understand the long-term health effects.

Disclaimer: This article provides data for general knowledge purposes only and does not constitute professional advice. consult with relevant experts for specific guidance.

Share your thoughts: What steps should Taiwan take to address the smuggling of heated cigarettes? Join the discussion below!

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Business

Attention! Mandatory Motorcycle Safety Gear Rules Coming Soon

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Indonesia Moves Forward with Mandatory Third Party liability Insurance for Motor Vehicles

The Indonesian government,‌ through the Financial Services Authority ‍(OJK), is⁣ advancing plans to implement Mandatory Third Party Liability (TPL) insurance for all motorized vehicles. This initiative,mandated by Law Number 4 of 2023 concerning the Development and​ Strengthening of the Financial Sector (P2SK ⁤Law),aims to provide greater protection for accident ‌victims and reduce financial burdens ​caused by road incidents.⁢

Currently, TPL insurance is voluntary and primarily required for‌ vehicles financed ‌through ⁤banks or⁣ multi-finance companies.However, the new policy will extend this requirement to all vehicle⁢ owners, nonetheless of financing status. Ogi Prastomiyono, Head of‌ Executive Supervision of Insurance, Guarantees, and OJK Pension Funds, emphasized that the implementation hinges on the ⁤issuance of ⁤ government regulations (PP).

“As I said, the mandate of the P2SK Law begins with government regulations. And the government regulation is ⁣not ‍in the OJK, in ⁢the government. Yes, we will also follow up​ what government regulations are like,” Ogi stated during the Insurance,‍ Guarantee, and Pension Fund (PPDP) event⁤ at the Grand Ballroom Kempinski, Central Jakarta, on Monday, January ⁣3, 2025.What is TPL ‌Insurance?
TPL insurance ⁣is designed⁢ to compensate third parties for ⁢damages or injuries caused​ by a motor vehicle accident.This coverage ensures that victims are ​not left⁤ bearing the financial brunt of accidents, while vehicle owners are protected from meaningful out-of-pocket expenses.

current ⁤Status and Future Plans
While the policy was initially slated for implementation in January 2025, ⁢the government​ is still finalizing the PP⁤ Draft (RPP), which will serve as the legal framework​ for the program. Once the PP is issued, the ‍OJK will prepare the Implementation Regulations (RPOJK) to operationalize the⁣ mandatory ​insurance program.

Ogi highlighted⁣ the benefits of this policy, particularly for consumers. “We‍ see from the outlook of consumers ‌who​ close vehicle insurance,‌ of course this will help‌ consumers in the event of a traffic accident⁢ that must bear losses ⁤from third parties. If there is insurance then it is borne by the ​insurance company. That is the advantage,” he explained during the 2024 Insurance Forum on CNBC Indonesia⁢ TV. ‍

Key Points at ​a Glance

⁢

| Aspect ⁣ ⁤ ⁢ ​ ⁢ |⁢ Details ⁢⁣ ‍ ⁢ ⁤ ⁣ ⁤ ⁤ | ‍
|———————————|—————————————————————————–|
| Policy Name ⁤ ‌ | Mandatory ⁤Third party Liability (TPL) Insurance ⁤ ⁢ ⁢ ⁣ ​ | ⁢
| Legal Basis ‍ ‌ | Law Number 4 ⁤of 2023 (P2SK Law) ⁣ ⁣ ‍ ⁢ |
| Current Status ⁢ | Voluntary for financed vehicles; mandatory for all vehicles pending PP |
| Implementation ​Timeline ‌ |‌ PP Draft (RPP) under preparation; RPOJK to follow ‌ ⁢ ⁤ ‌ ​ |
| Objective ‍ ⁣ ⁣ ⁢ ‍ | Protect accident victims and reduce financial⁤ burdens ⁣ ⁢ ⁢ ⁢ |

Why This⁣ Matters
‌ ⁢
The introduction of mandatory TPL⁤ insurance marks a ‍significant ​step ‌toward enhancing road safety and financial⁢ security in Indonesia. By ensuring that all‌ motor vehicles are insured, the government aims to foster a culture of mutual duty and minimize ​the economic impact of accidents.

As the government finalizes the necessary regulations, vehicle owners and stakeholders are encouraged to stay informed and prepare for the upcoming changes. This policy not only safeguards individuals but also strengthens the broader financial ecosystem by mitigating risks associated with motor vehicle accidents.⁤ ‌

For more⁤ details ​on the​ P2SK Law and its implications, visit ⁤the official OJK website. Stay tuned for updates as ⁤the government​ progresses with this transformative initiative.

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News

Cameroon Sacrifices 400 Billion FCFA Annually in Tax Revenue to Boost Economy

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Cameroon’s Strategic tax Exemptions: Boosting Accessibility and ​Economic​ Growth

Every year, the Cameroonian government forgoes a staggering 259.2 ⁣billion FCFA in tax exemptions, a strategic move aimed at making essential products like rice,⁤ fish, and wheat ⁢ more accessible to‍ the majority of​ its ⁢population. According to the directorate General⁢ of Taxes (DGI), this approach is part of a⁢ broader effort to ensure affordability and economic stability.

For rice, the ⁢government has reduced the tax rate to 5%, a significant drop ⁣from the standard⁢ 20%. This measure follows⁤ a total exemption that was⁢ in place⁢ between‌ 2008 and 2016. While this reduction has‌ made rice more affordable for consumers, it comes at ​a cost to the public ​treasury, amounting ⁢to approximately 52⁢ billion FCFA annually.⁤ Similarly,fish,another staple in Cameroonian households,benefits from lower ​taxes,resulting in an annual loss of 58 ⁢billion⁢ FCFA. Wheat, a ​vital raw material‌ for bread ​production, also ⁢sees tax exemptions that‍ cost the state around 30 billion FCFA per year.‌

but the government’s strategy doesn’t stop at consumer goods. Cameroon is‍ also leveraging tax incentives to stimulate its economy. The ‌DGI reports that⁣ 190.2 billion FCFA ‍ is ‌allocated‍ annually‌ to encourage ‌ investments ‌ and job creation. These targeted ⁢reliefs are ⁣designed to support businesses, ​enabling them to expand and hire more employees.⁤ In total, the state injects ⁣ 449.4 billion FCFA each year into these various tax‍ measures.​

Key Takeaways: Cameroon’s Tax Exemptions ⁣

|‍ Product/Initiative | ‌ Annual Tax Exemption (FCFA) | Purpose |
|————————-|———————————-|————-|
| Rice ‍ ‌ ⁤‌ | 52 billion ‌ ⁤ ⁣ ‍ ​ | Accessibility ⁤|
| Fish ⁢ ‍ ⁢ | 58 billion ⁢ ⁤ ‌⁢ |‍ Accessibility⁢ |
| Wheat ⁣ ‍ |⁤ 30‌ billion | Accessibility⁤ | ⁢
| Investments & Jobs ⁤ | 190.2 billion ⁣⁢ ⁢ | ​economic⁤ Growth |
| ‍ Total ⁣ ⁤‍ | 449.4 billion ⁣ ​ ‌ ⁢| ⁣ |

This dual approach—focusing on both consumer affordability and economic growth—highlights Cameroon’s commitment to balancing ‍public ⁢welfare with ⁢long-term progress.⁣ By ⁤reducing⁤ taxes on essential goods, the⁢ government ensures that basic needs are met, while targeted incentives⁤ for ‍businesses⁤ foster a ‌more​ robust and ⁢inclusive ⁤economy.

For more insights into Cameroon’s tax policies,​ explore ⁢the General tax Code and‍ its recent updates. ‍

What are ⁢your thoughts on⁤ Cameroon’s ⁣tax strategy? Share your‌ views ⁢and ⁢join the conversation on how tax exemptions can shape economic⁣ and social ‌outcomes.

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