But Bessent, speaking to NBC's "Meet the Press," ruled out the chance of a financial crisis. 

The initiative, which will channel up to Rp 400 trillion (US$24.3 billion) in funding, has raised concerns over a potential rise in nonperforming loans (NPLs) and liquidity strains.

The United States averted a government shutdown with hours to spare Friday as lawmakers already reeling from President Donald Trump's radical federal spending cuts voted to keep the lights on through September.

Nearly three weeks have passed since the much-anticipated launch of Danantara, Indonesia’s latest and most ambitious investment entity, on Feb. 24, 2025. Positioned as a strategic vehicle to consolidate state-owned enterprises (SOEs), attract investment and become one of the world’s largest sovereign wealth funds, Danantara was introduced with strong national aspirations.

Indonesia’s per capita emissions, while still lower than the world’s major emitters, are rising steadily as the country’s economy expands by around 5 percent annually.

California-based MGA Entertainment, which makes its Bratz and L.O.L. Surprise! dolls and other toys primarily in China, is taking steps to move 40 percent of its manufacturing to India, Vietnam and Indonesia within six or so months, up from around 10 percent to 15 percent currently, CEO Isaac Larian said in an interview.

The US government, already shaken by Donald Trump's radical reforms, could begin shutting down entirely this weekend as Democrats grapple with the politically risky option of opposing the president's federal funding plans.

Indonesia’s state revenue dropped sharply in the first two months of 2025, and signs point to the haphazard implementation of a new taxation system as a contributing factor.

Uncertainty sparked by constant White House pivots on tariffs has potentially delayed business investments and prompted consumers to pull back on spending, said Paul Gruenwald, global chief economist at S&P Global Ratings.  

The October-February deficit, which included nearly four months until January 20 under former president Joe Biden, topped the previous record $1.047 trillion from October 2020 to February 2021 - a period marked by high COVID-19 relief spending and pandemic-constrained revenues.

Despite maintaining the credit rating at the same high level since 2017, credit agency Fitch Ratings warned that a substantial increase in fiscal deficits could trigger a downgrade.

Indonesian consumers have shown less optimism in the first two months of 2025 as they become increasingly concerned about employment prospects alongside a general tail off in expectations.

"I hate to predict things like that," he told a Fox News interviewer when asked directly about a possible recession in 2025.

Used in everything from cakes and frying fats to cosmetics and cleaning products, palm oil makes up more than half of global vegetable oil shipments and is especially popular among consumers in emerging markets, led by India.

As the public was left with no clarity on the state of the government budget, experts have suggested that results for the first few months of this year would see a significant decline compared with the same period last year.

China announced tariffs on over US$2.6 billion worth of Canadian agricultural and food products on Saturday, retaliating against levies Ottawa introduced in October and opening a new front in a trade war largely driven by US President Donald Trump's tariff threats.

HIMKI chairman Abdul Sobur said the country’s furniture industry had been relying on international exhibitions hosted by the government to open the export market, but such events have been discontinued as organizing overseas exhibitions is expensive.

German industrial orders in January posted their biggest monthly fall in a year, data showed Friday, underlining the challenges faced by Europe's top economy before a new government takes office.

The first two months of the year saw the opening salvo of a renewed US-China trade war, with US President Donald Trump imposing an extra 10 percent levy on Chinese goods, arguing Beijing had not done enough to stem the flow of the deadly opioid fentanyl.

Touting Beijing's cooperation in the fight against the fentanyl epidemic in the United States, Wang Yi said Washington should not "repay kindness with resentment, let alone impose tariffs without reason".

The middle class is not expanding fast enough to meet ambitious development goals, experts and businesses warn, which could scupper President Prabowo Subianto’s plans to boost economic growth to 8 percent and make Indonesia a developed country by 2045.

The US economy is set to experience some "disturbance" from tariffs, President Donald Trump said Tuesday, as trade tensions flare after he imposed sweeping levies on Mexico, Canada and China.

Canada and Mexico, which have enjoyed a virtually tariff-free trading relationship with the US for three decades, were poised to immediately retaliate against their longtime ally.

TSMC has already begun producing advanced 4-nanometer chips for US customers in Arizona.

Asia’s trade environment is shifting rapidly, influenced by trends such as nearshoring, digital transformation and geopolitical realignments. With intraregional trade now making up 57 percent of Asia’s total trade, up from 54 percent in 2000, the region is more interconnected than ever.

Strong domestic demand ahead of the fasting month drove Indonesia's manufacturing PMI to a new high last month, but analysts say declining export orders signal trouble ahead amid persisting cost pressures.

Last month marks the first month of annual deflation since March 2000, BPS said.

Asian share markets made guarded gains on Monday as investors waited anxiously to see if imminent tariffs would go ahead, while bitcoin surged on news it would be included in a new US strategic reserve of cryptocurrencies.

The Purchasing Managers' Index (PMI), a key measure of industrial output, came in at 50.2 in February, according to the National Bureau of Statistics (NBS), above the 50-point mark that separates growth and contraction.

Deputy Cooperatives Minister Ferry Juliantono says that dozens of cooperatives have applied to obtain mining permits following the passage of a controversial revision to the 2009 Mining Law.