cnbc_topnews

Indonesian state telecom said to weigh sale of venture arm managing $830 million

📰 source: cnbc_topnews · 💼 business

telkommetra, a unit of indonesia's largest state telecom conglomerate, is weighing the sale of its venture arm mdi ventures, which manages $830 million in committed assets. the process is preliminary and no final decision made, but telkommetra has hired jefferies to advise, according to four people familiar with the matter. a letter issued by mdi and seen by cnbc requested stakeholders' opinions on the proposed process by july 17.

mdi is one of indonesia's largest corporate vc firms, with a portfolio of over 80 companies including six unicorns like kredivo and nium. the possible sale follows a corruption verdict against four former executives over a $25 million joint investment in agritech startup tanihub, which later collapsed. they were sentenced to two to five years in prison under indonesia's anti-corruption law, where a bad state-backed investment can become a criminal matter.

indonesian tech companies are in a multiyear funding drought, with capital raised falling to $213 million in 2025, down 38% from a year earlier and 85% below 2023 levels. the 'state loss' doctrine treats capital from state-controlled companies as public money, and observers warn it threatens to become a bottleneck for development. 'investors would shy away from dealings with government or state-owned entities,' said bert hofman of csis indonesia.

why it matters: indonesia's state loss doctrine turns failed vc bets into criminal cases, chilling investment in state-linked tech deals.

source: cnbc_topnews
sentiment: +0.00 · impact: 0.30

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

Read more

Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects