Market Watch: S&P Dow Jones and MSCI both warn Indonesia could face a downgrade risk tied to stock transparency, rattling Jakarta shares even after regulators moved to raise free-float rules. Indonesia-India Strategic Push: PM Modi’s Jakarta visit keeps delivering big-ticket pacts—BrahMos and Astra missile supply, plus education and tech cooperation, including plans for an IIM Bangalore campus in Indonesia. Digital Payments & Trade: Indonesia and India aim to link UPI and QRIS to speed cross-border transactions, while the trade ministry shifts focus toward high-value exports and digital services. Space & Innovation: BRIN will launch the domestically built NEO-1 Earth observation satellite in January 2027, with 65% local content. Energy & Environment: Indonesia expands waste-to-energy beyond Bali, targeting 34 regional agglomerations nationwide, and Danantara breaks ground on a Bali plant. AI Governance: Indonesia urges people-centered AI rules at the UN’s first AI governance dialogue, spotlighting child protection. Business & Finance: Xendit integrates the Philippines’ Dragonpay to build a unified payments network across Southeast Asia.