INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Indonesia president to participate in BRICS summit in South Africa

Indonesian President Joko Widodo.
  • Before leaving for the BRICS summit, Widodo told reporters that apart from attending the event he will also meet with other world leaders
  • Launched in 2009, BRICS aims to tame Western economic domination in global affairs, much to the consternation of the Western political leadership

Jakarta, Indonesia–Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that the country could join the group as its latest member.

The meeting, which brings together major emerging economies countries led by Brazil, Russia, India, China, and South Africa, will be held for three days starting Tuesday.

“Indonesia has been invited to the BRICS summit and of course in between the BRICS summit there will be meetings with other world leaders,” Widodo told reporters ahead of his departure.

The trip is Widodo’s first to Africa as leader of South East Asia’s biggest economy.

He said earlier in the week that his government had not decided whether or not Indonesia would join BRICS.

The group, formally launched in 2009, seeks to tame Western economic domination in global affairs.

It represents 23 percent of the world’s gross domestic product and 42 percent of the world’s population.

Aside from attending the BRICS summit, Widodo said he would also visit Kenya, Tanzania, and Mozambique to strengthen cooperation.

Tanzania and Kenya opened embassies in Jakarta last year, while Mozambique is the first African country to sign a Preferential Trade Agreement with Indonesia.