Eddie Spence

Prabowo had long railed against Indonesia's tycoons, accusing them of harnessing national wealth for personal gain.

The property, the oldest in Jakarta’s historic Menteng district, is one of many that lie derelict in the world’s largest city.

Indonesia’s commodity export agency will focus on monitoring the price of key raw-material exports instead of intervening in trade, according to a senior official, in an apparent effort to ease industry concerns over a radical natural-resource policy introduced last month.

Jakarta aims to issue Indonesia’s first municipal bond within a year as part of efforts to diversify city revenue sources following budget cuts.

Indonesia’s energy ministry directed miners to urgently boost domestic coal supplies just before the country was hit by rolling blackouts, the latest strain on President Prabowo Subianto’s administration following a week of protests.

Copper snapped a two-day loss as it shrugged off a fresh round of US strikes on Iran to focus on optimism over a longer-term demand boost from artificial intelligence.

Indonesia imported Russian crude oil for the first time since a deal struck between the two nations in April, a sign of how Moscow has taken advantage of the Iran conflict to grow its customers.

At least $1.6 billion worth of Moscow’s diesel, fuel oil and other products has been funneled from Indonesia’s tiny Karimun into major markets across the region.

Copper was on track for its second straight weekly gain as investors looked past potential demand headwinds presented by the mid-week resurgence in fighting in the Middle East.

Andi’s story reflects the changing fortunes of the nation’s business elite.