France's Macron, Indonesia's Prabowo to discuss strategic partnerships
JAKARTA - French President Emmanuel Macron will meet his Indonesian counterpart Prabowo Subianto in Jakarta on May 28, and defence ties with Paris' biggest arms client in South-east Asia are expected to be on the agenda.
Indonesia is the second leg of Mr Macron's regional trip after Vietnam, where the two countries signed deals worth over US$10 billion. He is scheduled to fly to Singapore on May 29.
Indonesia's foreign ministry said the two sides would discuss 'existing strategic partnerships,' without giving specific details about the areas of discussion.
In 2022, the two countries signed an US$8.1 billion defence deal that included an order for 42 Rafale fighter jets made by France's Dassault Aviation, as well as a series of agreements including submarine development and ammunition.
'Some commitments need follow-up and Indonesia has shown interest in some other military hardware, but there has been no progress yet,' said Mr Khairul Fahmi, a military expert at Indonesia-based Institute for Security and Strategic Studies.
No Rafale jets have been delivered to Indonesia yet.
The chief of the Indonesian Air Force, Air Chief Marshal Mohamad Tonny Harjono, said in February that six jets would arrive in Indonesia in early 2026, state news agency Antara reported.
Aside from the Rafale deal, Indonesia in 2024 struck an agreement with French state-owned shipyard Naval Group to buy two 'Scorpene' submarines, and in 2023 announced the purchase of 13 long-range air surveillance radars from France's Thales.
Mr Prabowo, who became president last year, was the defence minister when these deals were signed.
Mr Macron's delegation to mineral-rich Indonesia includes French mining group Eramet's new CEO Paulo Castellari. Eramet chairwoman Christel Bories said they would look to discuss mining permits in relation to the Weda Bay nickel mine.
Indonesia is the world's largest producer of nickel, and also holds the biggest known reserves of the metal. Ms Eramet and other companies have complained about reduced volume allowances.
The group also has been in talks with Indonesia's new sovereign wealth fund, Danantara, about battery supply-chain investments, with Ms Eramet still wanting to get into nickel processing after dropping a plan to build a plant with BASF last year. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
32 minutes ago
- CNA
Trump warns Putin over Ukraine as EU fails to agree fresh Russia sanctions
WASHINGTON: US President Donald Trump on Tuesday (Jul 15) warned Russia it has 50 days to agree to a ceasefire in Ukraine or face fresh sanctions, even as the European Union failed to approve its latest package of measures against Moscow. Speaking to reporters at the White House, Trump said Ukrainian President Volodymyr Zelenskyy should not target Moscow despite reports he had privately encouraged deeper strikes inside Russia. "No, he shouldn't target Moscow," Trump said, adding that he is on "humanity's side" and wants to stop the killing. Trump defended his 50-day ultimatum to Russian President Vladimir Putin, vowing that sanctions and tariffs would kick in against countries that continue to buy Russian oil if no agreement is reached. "At the end of the 50 days if we don't have a deal, it's going to be too bad," Trump said. His remarks followed Monday's announcement of a new NATO-backed military aid package for Kyiv. Trump said European countries would fund the supply of US-made Patriot missile systems and other weaponry for Ukraine. Moscow responded cautiously, saying it needed time to study Trump's comments but warning they could embolden Ukraine to prolong the conflict. "It seems that such a decision... will be perceived by Kyiv not as a signal for peace but for the continuation of the war," Kremlin spokesman Dmitry Peskov said. Russia has ramped up aerial attacks on Ukrainian cities in recent weeks and has refused ceasefire calls, demanding instead that Kyiv pull out of occupied regions and cease all Western military support. Despite back-to-back prisoner exchanges, peace talks between Moscow and Kyiv have yielded no major breakthroughs. Russia said it remains open to dialogue but is waiting for proposals from Ukraine. Ukrainian soldiers on the frontlines expressed mixed reactions. Some welcomed the promised US weapons, while others questioned Trump's reliability and warned that vital time had been lost. EU DIVIDED ON NEW SANCTIONS Meanwhile, in Brussels, EU foreign policy chief Kaja Kallas said she was "really sad" the bloc was unable to agree on its 18th sanctions package targeting Russia. "The ball is now in Slovakia's court," Kallas said, referencing Slovakia's ongoing objections due to a separate EU plan to phase out Russian gas by 2028. The proposed sanctions include a floating price cap on Russian oil, a ban on transactions with banks circumventing sanctions, and prohibitions linked to Russia's Nord Stream pipelines. The measures are part of the EU's ongoing effort to curb Moscow's ability to fund its war in Ukraine. While all other member states were ready to proceed, Kallas said she remained hopeful a final agreement could be reached as soon as Wednesday. TENSIONS MOUNT OVER WEAPONS PLAN As part of his broader policy, Trump has threatened severe tariffs on countries that continue trade with Russia if no ceasefire is reached. His remarks come amid concerns in Europe over the unpredictability of US foreign policy and the future of NATO unity. Nevertheless, some EU countries, including Denmark and the Netherlands, said they are open to joining Trump's plan to purchase American arms for Ukraine. Trump's stance marks a shift from earlier ambiguity about US involvement in Ukraine and follows mounting criticism that the West has not done enough to stop Russia's offensive, now in its fourth year.
Straits Times
an hour ago
- Straits Times
Nasdaq edges to record as Dow, S&P 500 retreat
Find out what's new on ST website and app. Traders working on the floor of the New York Stock Exchange, in New York City, on July 15. NEW YORK - Wall Street stocks finished mostly lower on July 15 despite another Nasdaq record as President Donald Trump announced a US trade deal with Indonesia ahead of a deadline still facing numerous other countries. All Indonesian goods entering the United States will encounter a 19 per cent tariff, below the 32 per cent previously threatened, according to a Trump social media post. But the deal comes as US negotiations remain unresolved with some two dozen other trading partners, with the looming US threat of steep tariffs from Aug 1. High stock market prices 'may be emboldening the administration to keep up the bluster on tariffs,' said Mr Art Hogan, of B. Riley Wealth Management, who characterised most of the most recent Trump trade headlines as unfavourable. The Dow Jones Industrial Average dropped 1 per cent to 44,023.29. The broad-based S&P declined 0.4 per cent to 6,243.76, while the tech-rich Nasdaq Composite Index gained 0.2 per cent to finish at a second straight record at 20,677.80. The Nasdaq record came as Nvidia announced it would resume sales of its H20 artificial intelligence chips to China, after Washington pledged to remove licensing curbs that had put a stop to exports. Top stories Swipe. Select. Stay informed. Singapore Las Vegas Sands' new development part of S'pore's broader, more ambitious transformation: PM Wong Singapore Economic headwinds do not dampen outlook for new Marina Bay development: Las Vegas Sands president Business MAS records net profit of $19.7 billion, fuelled by investment gains Singapore Man charged with attempted murder of woman at Kallang Wave Mall Singapore CDL's long-time director Philip Yeo to depart after boardroom feud Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Life The Violinist, Singapore's first animated historical film, set for August 2026 release Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years Shares of Nvidia rose 4 per cent. Markets also digested data showing an uptick in inflation. The consumer price index was up 2.7 per cent from a year ago in June, rising from 2.4 per cent in May in a move that likely showed some effect from tariffs. Analysts described the report as mixed, with inflation rising enough to stay a concern, but not so much as to confirm the worst-case outcomes for tariffs. Several large banks also reported strong earnings, though shares of Wells Fargo fell 5.3 per cent following a disappointing forecast for net interest income, a closely watched benchmark. But Citigroup jumped 3.6 per cent after it topped analyst estimates by a wide margin. Meanwhile MP Materials surged 20 per cent after announcing a US$500 million (S$640 million) long-term agreement to supply Apple with rare earth magnets. The disclosure comes after the rare earth company last week announced that the US Pentagon had taken a stake in the company. Apple advanced 0.2 per cent. AFP
Straits Times
4 hours ago
- Straits Times
Economic headwinds do not dampen outlook for new Marina Bay development: Las Vegas Sands president
Find out what's new on ST website and app. Las Vegas Sands president and CEO Patrick Dumont said Singapore is 'incredibly desirable' to the firm as so many people want to come to the Republic to live and do business. SINGAPORE – Consumer spending in the Asia-Pacific is currently dampened due to geopolitical factors, but Mr Patrick Dumont remains unfazed about long-term business projections for the upcoming Las Vegas Sands development. 'We think in 10, 20-year terms,' said Mr Dumont, who is the president and chief operating officer at Las Vegas Sands, Marina Bay Sands' (MBS) parent company. 'South-east Asia is filled with young people who are entrepreneurial, aspirational and working very hard and creating business success, and as that occurs, they want to consume, and experience things that are unique, luxury and aspirational.' Las Vegas Sands' new US$8 billion (S$10.3 billion) development is set to be completed by 2030 and open in the first quarter of 2031. The complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, and 200,000 sq ft of meeting and convention space. It will also have a 'Skyloop' – a counterpart to the current MBS SkyPark – and high-end restaurants. An artist's impression of Las Vegas Sands' new ultra-luxury development in Singapore. PHOTO: MARINA BAY SANDS 'This is going to be the most luxurious and high-serviced hotel in the world,' Mr Dumont told The Straits Times on July 14, a day before the ground-breaking on the new development. The new complex costs almost 50 per cent more than the US$5.6 billion that was pumped into the development of the existing MBS integrated resort by Las Vegas Sands 15 years ago. Despite being targeted at the ultra-luxury market, it will have public spaces open to everybody – such as the new Skyloop on the roof, where two overlapping elliptical decks are stacked on top of each other. An artist's impression of the Lower and Upper Skyloop on the tower's roof, where two overlapping elliptical decks are stacked on top of each other. PHOTO: SAFDIE ARCHITECTS The lower Skyloop will have several public areas, including an observatory, restaurants and rooftop gardens, while above, hotel guests will have private cabanas and infinity-edge pools. There will also be a wellness terrace for events. Singapore is 'incredibly desirable' to Las Vegas Sands and its significant investments because so many people want to come to the Republic to live and do business, said Mr Dumont. 'So, it is very important for us to continue to invest and grow our capabilities, to maintain leadership in the industry... This is the next evolution in high-value tourism investment.' (From left) Minister for Sustainability and the Environment Grace Fu, Las Vegas Sands co-founder Miriam Adelson, Las Vegas Sands chief operating officer Patrick Dumont, architect Moshe Safdie and Prime Minister Lawrence Wong looking at a model of the new hotel tower during its ground-breaking ceremony on July 15. ST PHOTO: AZMI ATHNI The focus on high-spending business and leisure tourists aligns with the Government's focus, he noted. For example, the authorities have identified the Mice (meetings, incentives, conferences and exhibitions) segment as a key growth engine for Singapore tourism. Mice visitors are expected to contribute 10 per cent, or $3.5 billion, of the country's tourism receipts by 2040. The upcoming entertainment arena, for instance, will be able to hold both live performances and Mice events. The hotel tower and arena by Las Vegas Sands set against the horizon. PHOTO: SAFDIE ARCHITECTS 'We will have a connection through a bridge that will allow people to have a large Mice event and then also use the arena for other purposes as part of that event,' said Mr Dumont, adding that it is important for the new development to include amenities not available in the existing MBS property. He also envisions the new development having a larger impact on the Marina Bay district as a whole in what he described as a 'halo effect'. 'Where it not only enhances our ability to conduct tourism and drive people to Singapore and to our properties, but also enhances the Marina Bay district as a desirable tourism destination because of the amenities that we will provide.'
