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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Qatar to invest $2 billion in Indonesia sovereign wealth fund

Qatar's foreign reserves rise in May.
  • Indonesian President Prabowo Subianto is on a five-nation tour of the Middle East, visiting the UAE, Turkey, Egypt, Qatar and Jordan to boost bilateral ties with the region.
  • He said Sunday he had a "productive" meeting with Qatar Emir Sheikh Tamim bin Hamad Al-Thani and that the country would invest in the Danantara Indonesia fund.

Jakarta, Indonesia — Indonesian President Prabowo Subianto said Qatar is set to invest $2 billion in his country’s new sovereign wealth fund as he looks to boost economic growth.

Prabowo is on a five-nation tour of the Middle East, visiting the United Arab Emirates, Turkey, Egypt, Qatar and Jordan to boost bilateral ties with the region.

He said Sunday he had a “productive” meeting with Qatar Emir Sheikh Tamim bin Hamad Al-Thani and that the country would invest in the Danantara Indonesia fund.

Danantara Indonesia was launched in February by President Prabowo Subianto who pledged to ramp up annual growth from five to eight percent, while ordering billions of dollars in government cuts.

The fund will take control of government holdings in state companies with an initial budget of $20 billion.

It is the country’s second sovereign wealth fund, after the Indonesia Investment Authority, which was launched in 2021 and holds $10.5 billion in assets.

Danantara announced its full board lineup last month with American billionaire Ray Dalio and former Thailand prime minister Thaksin Shinawatra appointed as advisors.

Jakarta has planned more than 20 energy projects worth around $40 billion this year, energy and mineral resources minister Bahlil Lahadalia said in March, partly funded by Danantara.