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View all search resultsAdopting at least four of the Santiago Principles, described as "the globally accepted standards for governance, investment and risk management practices for sovereign wealth funds" by the SWF international forum, will help ensure the independence, transparency and attractiveness of the nascent Danantara fund.
Growing public distrust of the newly formed sovereign wealth fund, Daya Anagata Nusantara (Danantara), has sparked online discussions on switching banks and cash withdrawals, leading analysts to debate the actual risks of a potential bank run or the ensuing economic crisis.
The string of recent appointment of Prabowo Subianto's close aide and of Gerindra Party members as state-owned enterprises (SOEs) commissioners or deputy ministers is intended to help prevent any political turbulence during the government transition and to help the president-elect and his party secure long-term political gain for the 2029 elections, observers have said.
India plans to overhaul more than 200 state-run firms to make them more profitable, signaling a departure from Prime Minister Narendra Modi's aggressive privatization program that has struggled to take off, government sources said.
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