The EU executive team including Sejourne will hold a special debate next Friday on how the 27-nation bloc should approach China to level the playing field.

Middle-class Indonesians are among the groups most vulnerable to currency depreciation, because a larger share of their spending is impacted by changing exchange rates.

Asia-Pacific trade envoys gathered in China are expected to discuss multilateral cooperation, trade imbalances and supply chain resilience in the face of global shocks, including the US-Israeli war on Iran.

According to Bloomberg, notifications went out beginning in the early morning hours, with Singapore-based workers among the first to be informed.

E5 rollout will be concentrated in key high-consumption regions: East Java, Jakarta, West Java, Banten, Central Java and Yogyakarta.

Under the Agreement on Reciprocal Trade (ART) with the United States signed on Feb. 19, Indonesia agreed to exempt US investors from a regulation requiring natural resource exporters to keep their earnings in Indonesia for a certain duration.  

Asian stock markets rose Friday as optimism over US-Iran talks buoyed equities, though higher oil prices kept inflation concerns in focus.

Incoming Federal Reserve chair Kevin Warsh will be sworn in at the White House on Friday, taking the reins of the US central bank as it faces unprecedented pressure from President Donald Trump to cut interest rates.

The new policy signals a shift toward tighter state control over trade, and experts warn that, if not implemented carefully, it could undermine the goal stated by the government, which is to boost state revenue collection by preventing invoicing fraud.

The Middle East war is driving up the cost of public debt in rich countries, which could jam state budgets and push governments to unfold austerity policies, economists warn.

Speaking before the House of Representatives’ plenary on Wednesday, President Prabowo Subianto announced that exports of certain commodities will eventually be conducted through a single SOE.

Economic activity in the euro zone shrank at its sharpest rate in more than two-and-a-half years in May, as a war-driven surge in living costs hammered demand for services and pushed overall input price inflation to its highest in three-and-a-half years, a survey showed on Thursday.

"We are monitoring the situation ... and several steps are under consideration. The situation is globally quite challenging," Goyal said. 

The plan was unveiled by Defense Minister Sjafrie Sjamsoeddin following his meeting with United States Defense Secretary Pete Hegseth last month, during which Hegseth conveyed his intention to build a maintenance hub for the Hercules aircraft.   

Samsung Electronics' shares surged on Thursday after it clinched an 11th-hour deal with its South Korean union to avert a strike, although the terms which included bonuses of around US$416,000 for some workers gave rise to some concern.

US President Donald Trump is expected to sign an executive order on AI and cybersecurity as soon as Thursday, two sources familiar with the matter told Reuters, as pressure grows from parts of his political base to increase oversight of new AI models, such as Anthropic's Mythos.

The US dollar hit a six-week high on Wednesday as investors came to terms with the possible need for higher interest rates to tackle inflation resulting from the Iran war.

Speaking before the House of Representatives’ plenary on Wednesday, Prabowo said the policy was aimed at curbing under invoicing and transfer pricing, in which exporters underreport shipment volumes to reduce tax obligations.

The full force of the new policy will come into effect after a transition period that has been set at three months but can be extended to the end of the year.

The case centers on PT Perusahaan Air Indonesia Amerika (PAIA), a foreign investment joint venture backed by investors from the United States, Singapore and Saudi Arabia, which alleged it had been unfairly treated by state-owned firm ITDC.

Bank Indonesia (BI) has increased its benchmark interest rate by 50 basis points (bps) to stabilize the rupiah, blaming the recent depreciation of the Indonesian currency on external pressure.

The rupiah’s depreciation has raised the costs for Indonesia’s National Strategic Projects, with contractors warning of squeezed margins, cash flow strain and potential construction delays for import-heavy infrastructure works.

In a speech outlining the Macroeconomic Framework and Fiscal Policy Points (KEM-PPKF), Prabowo told the House of Representatives on Wednesday that the deficit for 2027 was set at 1.8 to 2.4 percent of gross domestic product (GDP), below the legal cap of 3 percent.

In a letter earlier ​this month to President Prabowo Subianto, copied to ​China’s ⁠embassy and seen by Reuters, the China Chamber of Commerce in Indonesia said ⁠Chinese ​firms faced "excessively stringent regulation, ​over-enforcement", and alleged corruption and extortion by authorities.

EU lawmakers and member states reached a deal in the early hours of Wednesday to implement the bloc's nearly year-old trade pact with the United States, with President Donald Trump threatening new tariffs unless it is done by July 4.

Analysts say a decision by state asset fund Danantara not to make its financial reports public will hurt investor confidence.

The benchmark index was down 1.85 percent on Monday and plunged again by more than 3 percent in the morning trading session on Tuesday.