Indonesia's President Prabowo Subianto (3rd R) and Vice-President Gibran Rakabuming Raka (R) arrive for the swearing-in ceremony of the minister of the new cabinet at the Presidential Palace in Jakarta on October 21, 2024. Newly inaugurated Indonesian President Prabowo Subianto on October 21 swore in his new cabinet, which includes key members of his predecessor's team and suggests he will continue his main policies, analysts said. (Photo by BAY ISMOYO / AFP)
Indonesia's President Prabowo Subianto (3rd R) and Vice-President Gibran Rakabuming Raka (R) arrive for the swearing-in ceremony of the minister of the new cabinet at the Presidential Palace in Jakarta on October 21, 2024. Newly inaugurated Indonesian President Prabowo Subianto on October 21 swore in his new cabinet, which includes key members of his predecessor's team and suggests he will continue his main policies, analysts said. (Photo by BAY ISMOYO / AFP)
Indonesia's President Prabowo Subianto (3rd R) and Vice-President Gibran Rakabuming Raka (R) arrive for the swearing-in ceremony of the minister of the new cabinet at the Presidential Palace in Jakarta on October 21, 2024. Newly inaugurated Indonesian President Prabowo Subianto on October 21 swore in his new cabinet, which includes key members of his predecessor's team and suggests he will continue his main policies, analysts said. (Photo by BAY ISMOYO / AFP)
Indonesia's President Prabowo Subianto (3rd R) and Vice-President Gibran Rakabuming Raka (R) arrive for the swearing-in ceremony of the minister of the new cabinet at the Presidential Palace in Jakart


Prabowo Subianto: Indonesia hasn't had a leader so ready to take a place on the world stage in decades


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October 23, 2024

The US presidential election is understandably commanding enormous attention, but this week marks a significant new chapter in the world’s third-largest democracy and fourth-most populous country, Indonesia, where the presidency of Prabowo Subianto was inaugurated on Sunday. We may soon be hearing rather more of his country.

Mr Prabowo will probably sit comfortably in office. A former special forces general during the 30-year-rule of his then father-in-law, Suharto, Mr Prabowo stood for the vice presidency once and the presidency twice before winning election in January this year. He served as defence minister since 2019 as part of the cabinet of his erstwhile opponent, Joko Widodo, who was considered to have implicitly endorsed his successor during the presidential contest, not least because Mr Joko’s elder son was Mr Prabowo’s running mate.

When I saw him being interviewed on stage in Doha in May, Mr Prabowo already had the air and confidence of a seasoned leader. And it was apt that it should have been in an international setting, for as his new Minister of Cultural Affairs, Fadli Zon, says: “Prabowo will be a foreign policy president and have a hands-on approach in dealing with foreign policy matters.”

Mr Prabowo’s predecessor-but-one, Susilo Bangbang Yudhoyono, made a similar prediction in June, posting on X in Indonesian: “Pak Prabowo, ‘you are on the right track’ and have become a ‘foreign policy president’. Good luck and carry on!” He praised Mr Prabowo’s speech at the Shangri-La Dialogue, Asia’s pre-eminent security conference, as “strong and also beautiful”.

Mr Joko never attended the UN General Assembly, and mostly left diplomacy to his foreign minister, Retno Marsudi. By contrast, Mr Prabowo has visited more than 20 countries since being elected this year, meeting leaders including President Sheikh Mohamed, China’s Xi Jinping, Russia’s Vladimir Putin, France’s Emmanuel Macron and the heads of five governments within the Association of South-East Asian Nations.

Maybe it is time for Indonesia to take a more prominent role in international affairs. If so, cometh the hour, cometh the man?

It’s natural that Mr Prabowo feels at ease abroad: for most of his childhood, his family were living overseas, and he speaks French, German, English and Dutch. But wearing the mantle of an international statesman also appears to be second nature to him.

In June last year, he surprised his own government when he put forward a four-point proposal to end the war in Ukraine. He did so, he explained in an interview in January, because “the Global South is suffering disproportionately from the effects of this war even though it has nothing to do with it, and can in no way change what is happening”.

Indonesia, he said, needed “to play a more assertive role in shaping geopolitical events”. Pointing out that his country had been one of the founders of the Non-Aligned Movement in 1961, Mr Prabowo said “advocating in favour of the Global South and developing nations, advocating for a world system that does not favour the developed North at the expense of the Global South, is in the DNA of our foreign policy”.

That may well be true. The change is that with Mr Prabowo, Indonesia may not have had a leader who is so ready to take a place on the world stage since its founding president, Sukarno. Earlier this year, he said: “It is only natural that as Indonesia develops, as it grows, it must assume the new responsibilities that come with its position as an emerging power.”

This, I would argue, is something that should be welcomed. Indonesia has a population of nearly 300 million people, it is the world’s largest Muslim state, it is already the world’s eighth-largest economy in terms of purchasing power parity, and many consider it to be on the cusp of a remarkable economic transformation. It’s a plural, vibrant, multi-ethnic society, with a wealth of culture and a long tradition of moderation.

Maybe it is time for Indonesia to take a more prominent role in international affairs. If so, cometh the hour, cometh the man?

I would say so. For Mr Prabowo’s plan for Ukraine dealt with the reality of what appears to be a terrible, intractable stalemate. He is firm about the need for the Israeli occupation of Palestinian lands to end. He is equally firm that Indonesia wants to continue to have “excellent relations” and maintain “important partnerships” with both China and the US.

The Indonesian flag rises during the handover ceremony of Indonesian President Prabowo Subianto and Defence Minister Sjafrie Sjamsoeddin in Jakarta on Tuesday. AFP
The Indonesian flag rises during the handover ceremony of Indonesian President Prabowo Subianto and Defence Minister Sjafrie Sjamsoeddin in Jakarta on Tuesday. AFP

“What I will not do as president is align Indonesia to one or the other. Indonesia is too big to be aligned to any other country. Indonesia can only be aligned to Indonesia’s best interest,” he said. There are many countries that would like to do and say exactly the same. They will be pleased if Indonesia, as a more assertive middle power under Mr Prabowo, provides them with a lead to follow.

There will be plenty of challenges at home, not least fulfilling Mr Prabowo’s aim of reaching annual growth of 8 per cent. But the self-styled “continuity” candidate has reassured markets by retaining many of his predecessor’s ministers, most notably Sri Mulyani Indrawati, the country’s highly regarded finance minister.

And in reference to the allegations of human rights abuses relating to his time in the military – which organisations such as the BBC never stop claiming “have dogged him for decades” – Mr Prabowo has apologised to two former democracy activists from the late 1990s. He has also appointed one of them, Budiman Sujatmiko, to a key role as head of the Poverty Alleviation Acceleration Agency.

“We have both moved to the middle,” said the one-time fiery radical, Mr Budiman. He also dismissed western sniping at Mr Prabowo. “Developed countries don’t like leaders from developing countries who are brave, firm and strategic.”

I remember meeting Mr Budiman, and the new culture minister, Mr Fadli, in Jakarta 15 years ago. Who would have thought then that their time would come together, with the elevation of Mr Prabowo – who many then considered to be a tempestuous former general – to the presidency?

Perhaps the new leader has been following the saying he is fond of quoting: “A thousand friends are too few, one enemy is too many.” If Mr Prabowo can manage to keep to that, both at home and abroad, many may be glad if the “sleeping giant” of South-East Asia is beginning to awaken.

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

While you're here
COMPANY%20PROFILE
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MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium, Malayisa
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia on October 10

Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)

What is THAAD?

It is considered to be the US's most superior missile defence system.

Production:

It was created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

Abilities:

THAAD is designed to take out  ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".

Purpose:

To protect high-value strategic sites, such as airfields or population centres.

Range:

THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

What is graphene?

Graphene is a single layer of carbon atoms arranged like honeycomb.

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

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Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.  

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Lucifer: is a 2019 Malayalam-language action film. It dives into the gritty world of Kerala’s politics and has become one of the highest-grossing Malayalam films of all time.

MATCH INFO

Serie A

Juventus v Fiorentina, Saturday, 8pm (UAE)

Match is on BeIN Sports

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: October 23, 2024, 3:05 PM