With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive "America First" approach of the US president, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars.

To get there, bolder reforms are needed, said Prime Minister Lawrence Wong in a video message posted on YouTube on July 5, adding that the association’s 10 nations may be limited in scale individually but together have considerable weight.

The rates will "boomerang back" to the sometimes very high levels that President Donald Trump had announced on April 2 -- before he suspended the levies to allow for trade talks and set a July 9 deadline for agreements, Bessent told CNN.

The joint statement by the group's finance ministers marks the first time the BRICS countries haveagreed on a unified position on the proposed reforms. They agreed to back the shared proposal at an IMF review meeting coming up in December, which will discuss changes to a quota system that defines contributions and voting rights.

The proposal follows a major driver protest in May, during which drivers demanded higher fares and lower commission rates from the apps.

"My inclination is to send a letter out and say what tariff they're going to be paying," he told reporters on Thursday. "It's just much easier."

The government has allocated Rp 13 trillion (US$803.11 million) for renovation loans and Rp 117 trillion for housing development under the scheme.

"Currently, both teams are working quickly to implement the results outlined in the London framework", China's commerce ministry said in a statement, referring to the June meetings.

The bill is expected to pile an extra $3.4 trillion over a decade onto US' fast-growing deficits.

The energy minister has announced the move to undo last year’s implementation of the three-year approval process via the e-RKAB platform, which had led to overproduction and weaker oversight as well as reduced tax collection.

The Southeast Asian nation has the third-biggest trade surplus with the United States of any country after China and Mexico, and was targeted with one of the highest rates in the US president's "Liberation Day" tariff blitz on April 2.

Jakarta is facing a 32 percent tariff in US markets and has previously offered to increase US imports to facilitate trade talks between the two sides.

EV bikes sales in the first half of 2025 have plummeted, falling by 30 to 40 percent compared with the same period last year.

Large-scale aid programs in Indonesia have a history of allegations of graft at both the regional and national levels.

The figure is lower than the April announcement that US importers of Vietnamese goods would have had to pay a 46 percent tariff.

The state-owned enterprises (SOEs) consortium involved in the operation of the Whoosh, PT Pilar Sinergi BUMN Indonesia (PSBI), recorded Rp 4.19 trillion in losses last year.

The energy ministry has identified around 7,000 potentially productive community wells in Aceh, Jambi, South Sumatra, Central Java and East Java.

Danantara CEO Rosan Roeslani noted that the agency had already secured $7 billion in international investment commitments from Qatar, Russia, China and Australia.  

The vote in the House, where Republicans hold a 220-212 majority, is likely to be close.

State asset fund Danantara will also be involved in the mineral project being offered.

For the transition to succeed, JETP emphasized that PLN must not only accelerate renewable procurement but also prioritize inclusive access and ensure project viability across all regions.

The duties on stainless steel billets and hot-rolled plates, first levied by Beijing in 2019, range from 20.2 percent for Indonesian imports to 43 percent for those from the EU.

The digital services tax, enacted last year, would have seen US service providers such as Alphabet and Amazon on the hook for a multi-billion-dollar payment in Canada by Monday, analysts have said. 

Five commodities prioritized for deregulation include forestry products, subsidized fertilizers, raw materials for plastic, other fuel types and food trays used in President Prabowo Subianto’s flagship free nutritious meals program.

Public Housing and Settlements Minister Maruarar “Ara” Sirait stated that funding is now expected to come from the state asset fund Danantara, which plans to allocate Rp 130 trillion (US$8 billion) for the housing sector.

Experts have criticized the move as a regulatory shortcut that risks legal inconsistencies, undermines the democratic principles of cooperatives and exposes them to poor governance and potential financial pitfalls.

With Rp 21.8 million in repair subsidies earmarked for each house, the country must pour Rp 43.6 trillion from the state budget to turn the plan into reality.

The housing ministry's internal tug-of-war over the "mini" homes plan could cause confusion among investors and eventually derail the President's flagship program, experts warn.

Indonesia is moving apace with its nuclear ambitions, drafting a new regulation on the domestic processing of uranium and thorium for nuclear energy.

Before Danantara’s formation, any SOE seeking additional capital had to submit a PMN proposal for approval by the House and the Finance Ministry, a process that was anything but swift.