SingPost shares tumble nearly 11% after sacking 3 senior executives

The most recent development comes as SingPost goes through a proper evaluation that was first conducted in July 2023. Earlier this month, it had announced the sale of its Australian business&nbsp, for a cash consideration of A$ 775.9 million ( US$ 504.1 million ).

A shareholder vote is expected to be held at a major shareholder gathering in the first half of the time, allowing the price to bring in a$ 312.1 million ( US$ 232.1 million ) gain. &nbsp,

According to OCBC’s Investment Research, it is unclear whether the company’s top executives ‘ dismissal “would have any impact on the deal.”

In a study statement released on Monday afternoon, OCBC’s capital research analyst Ada Lim stated that” we maintain our hold” rating while awaiting further clarity on its future growth engine, backed by a stronger balance sheet and greater economic flexibility.” We have been a major growth driver for SingPost in recent years.

Ms. Lim also increased her equity risk premium assumption by 50 basis points to 5.5 % to reflect “more corporate governance challenges and uncertainty” without “further color on the company’s strategic growth route going forwards.” Equity risk premium is used to determine the fund’s risk-reward trade-off.

Mr. Seet said he anticipates the board of the company to good proceed with the plan to review and divest non-core assets, which will help SingPost become more asset-light, boost its cash position, pare down debt, and be able to raise its shareholder returns.

The board’s decision to review and market non-core resources led to the end-game, according to the researcher.

Additionally, Mr. Seet said that the colony that SingPost paid to the impacted customer in this case was “immaterial.”

According to the reporting statement SingPost received, the global business unit of SingPost had manually entered a number of delivery status codes. These were for global shipping packages that the business had agreed to deliver through a deal with one of its biggest clients.

These human entries reportedly were made without any justification or supporting paperwork in an effort to avoid legal repercussions under the agreement. &nbsp,

Following its domestic studies, SingPost said it informed the user about the event. A colony has been reached between the parties, which includes paying a settlement amount.

The firm, in its statement on Sunday, said the lawsuit “is not expected to have a stuff effect” on the company’s online tangible assets or earnings per share for the latest financial year. &nbsp, Moreover, its enterprise with the client “has not been significantly affected and the lease has since been renewed following the arrangement”, it said.

This is very important for owners because it means that the company is unaffected and that this event won’t have any ramifications or negative effects on the company,” said Mr. Seet.

While SingPost stocks will likely experience” some failure” ahead, the Maybank analyst believes that the most recent advancement may only represent a temporary “road knock” as he continues to hold onto his “buy” call for the inventory.

Koh Wan Ting provided further monitoring.

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Will the federal deficit be Trump’s nemesis? – Asia Times

This research appeared earlier this week in the Asia Times ‘ International Risk-Reward Monitor, a regular examination of market forces.

Given our current position of information about the new government’s intentions, we foresee a steadily deteriorating socioeconomic environment in 2025 with continual high interest rates, higher than expected inflation, and weaker than expected earnings.

The Biden Administration bequeathed Donald Trump the largest-ever federal deficit ( at 6.1 % &nbsp, of GDP ) in an economic expansion. &nbsp, The president-elect wants to renew&nbsp, his 2018 corporate tax cut at an estimated cost of$ 400 billion per year, &nbsp, and&nbsp, eliminate taxes on Social Security income at a cost of about$ 150 billion per year. &nbsp, That would raise the federal deficit, now at$ 1.7 trillion, by about a quarter, minus possible revenues from additional tariffs ( which now bring in about$ 80 billion a year in revenue ), and whatever cost savings&nbsp, his team can obtain from spending reductions.

What didn’t go on forever didn’t, according to Okun’s Rules, and the United States doesn’t continue to run up the federal deficit continuously. But it has a price to pay to continue doing so for the near future. America doesn’t encounter a” Liz Truss time” ,&nbsp, as Swiss Re economist&nbsp, Jerome Jean Haegeli&nbsp, told the Wall Street Journal&nbsp, November 21, referring to&nbsp, the blowup of the UK tie business in October 2022 after the short-tenured prime minister proposed deep tax cuts. &nbsp, For the time being, the US can fund the Treasury’s saving need with&nbsp, local resources. However, that comes at a high price, and it’s possible that financial pressure may become stronger in 2025.

Unlike the aftereffects of the 2008 World Financial Crisis, when foreign central banks financed the boom in Treasury loans, US regional economic institutions&nbsp, absorbed the bulk of post-Covid Treasury financing, with some help from international personal investors and US homes. The presence of financial institutions in Treasury funding is more clearly visible graphically in terms of levels.

Lenders can continue to get Treasuries, but only if interest rates remain high. According to McKinsey, return on equity for large parts of the finance sector would be lower than the institutions ‘ individual cost of capital without the rise in interest rates of the previous two years. The supply on medium-term Treasuries is approximately equivalent to the bank’s loans from the central bank, which means that the deficit cannot be funded by the legendary printing press. Deposits, while, cost much less than borrowed money, and the Biden Administration’s massive governmental increase of 2019-2020 unleashed a flood of payments into the banking system. Payments rose much faster than institutions ‘ loans and leases, and were channeled into Treasuries.

That began a period in motion. Federal subsidies caused the gap to balloon, but a sizable percentage of those subsidies were reinvested back into the Treasury securities that provided the deficit. The grants unleashed prices, and the Federal Reserve&nbsp, raised interest rates, making Treasuries appealing for businesses. &nbsp, Higher interest rates&nbsp, doubled the cost of servicing the federal debt, to$ 1 trillion last year from$ 500 million in 2020.

In short, the rising of Treasuries on banks balance sheets, the higher price setting, the higher deficit expected to doubled interest payments, and higher inflation are all facets of the same problem.

What could go bad?

For one thing, a year ago, the surge in payments that made it possible for banks to purchase Treasuries with inexpensive customer money stopped. Lenders will have to make a higher yield than they already receive for immediately money from the Federal Reserve in order to continue funding the deficit. The secured over funding rate is currently higher than the supply of five-year Treasuries.

Businesses can use inexpensive reserves to finance buying of Treasury securities, but no expensive borrowings from the central bank. As we see in the chart above, &nbsp, the year-on-year shift in business businesses assets of US Treasury and Agency stocks tracks the year-on-year shift in payments.

Lenders will only be able to continue funding the Treasury gap once the spread between the central bank’s cost of funds and the produce on Treasury securities has dried up. One chance, of course, is that the main institution could provide cheaper revenue to the banks. That would in effect allow the printing press to fund the Treasury deficit, which is a badly inflationary move. Fed head Jerome Powell didn’t do this.

Another possibility is that medium-term Treasury yields need to climb. Rising long-term curiosity rates, though, may reduce if not eradicate economic growth.

Furthermore, US households may stop consuming and purchase a lot more government securities. &nbsp, American families save only 4.4 % of their disposable income, or about$ 1 trillion a year. If homeowners doubled that to$ 2 trillion a month, they could fund the gap by themselves. However, a rapid decline in use may lead to a recession, lower taxes revenues, and a bigger deficit.

Accidents are often feasible – for example, a big problem in the multi-trillion industry for short-term funding of government securities. As the Federal Reserve shrank its portfolio holdings of Treasuries, the illiquidity of the Treasury market ( as measured by the bid-asked spreads of off-the-run Treasuries ) worsened.

However, it’s unlikely that a liquidity seize-up would cause any long-term harm. Central banks have a way to react to these kinds of situations; they simply purchase whatever is available until the market drops.

The consequence of the expansion of US debt, high inflation, high Treasury rates and high debt service costs is likely to be gradual – a headwind, not a cyclone. &nbsp, This will hit US consumers the hardest.

US consumers borrowed money from credit markets to maintain their level of consumption after the Biden subsidies expired in response to high ( and significantly higher than expected ) inflation. Credit card debt increased significantly, while the interest rate on revolving credit increased from 14 % to 22 %. Revolving credit’s total interest payments increased from$ 100 billion to$ 250 billion last year.

The tax cuts that Trump’s team has &nbsp, discussed don’t have supply-side effects. Extending the old corporate tax cut doesn’t change incentives to invest, and removing taxation of Social Security benefits won’t bring more 70-year-old into the workforce. &nbsp, Tariffs cannot help but increase prices, both for consumers and for production inputs. Higher tariffs on imported capital goods will likely lead to a lower investment because the US currently imports more capital goods domestically than it produces.

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GIC boosts investment by 0m in Asia Healthcare Holdings | FinanceAsia

Asia Healthcare Holdings ( AHH), which runs a specialty hospitals focused healthcare platform, has received$ 150 million of backing GIC, Singapore’s sovereign wealth fund.

Following GIC’s initial$ 170 million investment in AHH in February 2022, alternative asset manager TPG even supports AHH.

Bangalore-headquartered AHH has invested roughly$ 300 million across hospital chains in Oncology, Mother &amp, Childcare, Urology &amp, Nephrology, and IVF &amp, Fertility under nursery specialist.

AHH’s platform includes Motherhood Hospitals, Nova IVF, and Asian Institute of Nephrology &amp, Urology ( AINU) hospitals. The largest network of Neonatal Intensive Care Units ( NICUs ) is part of the pan-India chain of mother and child hospitals that provide services for women from pre-conception to post-birthing care for both children and children.

Nova, a leading ovulation company, offers best-in-class IVF treatments in South Asia. India’s even network of cardiac and nephrology specialty hospitals with advanced urology care, including mechanical surgery and cutting-edge nephrology procedures, is India’s only Urology & Nephrology specialty hospital network.

” We started AHH as a care delivery system that would invest, enhance and increase single niche enterprises under one holding organization”, said Vishal Bali, executive chairman, AHH, in a statement. Our distinguished purchase strategy has since created significant growth opportunities to address India’s healthcare services demand/supply gap.

Looking back, we continue to discover significant growth potential for single-specialty healthcare delivery companies. AHH’s unique running type and the synergies we can use from the platform’s level may enable us to recreate our achievement across the new areas we bring under our fold. GIC and TPG Growth’s long-term devotion to AHH is the precursor to expand our growth”, Bali added.

Dah Yong Cheen, chief investment officer of secret capital, GIC, noted:” As a long-term trader, we are confident in India’s second specialty healthcare sector, which has powerful tailwinds for growth driven by increasing per capita income, urbanisation, higher awareness of specialty care, and improved supply of high-quality clinics. Its potential to grow into new sub-segments makes AHH well suited for continued success.

¬ Haymarket Media Limited. All rights reserved.

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India must atone for Bangladesh’s lost decade – Asia Times

In the annals of South Asia’s social background, India’s role in sustaining Sheikh Hasina’s government in Bangladesh stands as a striking training in the dangers of evaluating short-term corporate interests over long-term regional security.

India may deal with its guilt in preserving a program that had hampered a nation’s democratic aspirations as Bangladesh emerges from Hasina’s authoritarian rule.

The seeds of Bangladesh’s lost generation were first put in 2013 during a key visit by Sujata Singh, therefore India’s Foreign Secretary. Her visit included a meeting with General Hossain Mohammad Ershad to urge him to join in an election that all major opposition parties had abandoned only weeks before Bangladesh’s contentious general elections.

Bangladesh’s lost decade was initiated by this direct action to turn its brittle yet effective politics into fascism with American support.

It marked a pivotal moment for some Bangladeshis, highlighting the fact that India had chosen to support a routine rather than the people’s political aspirations.

In 2018 and again in 2024, much of the global society distanced itself from the Awami League’s controlled elections. However, India stood solid as Hasina’s only backer, providing her government with the worldwide legitimacy it sorely needed.

This unwavering support, combined with New Delhi’s silence on human rights abuses and political fraud, reinforced India’s picture as the innovator of a dictator. Without India’s approval, Hasina’s grip on power could not have endured.

Decade of oppression

India’s aid for Hasina was no moral. Throughout her career, essential agreements favored American interests, from transport routes to energy exports, usually at Bangladesh’s expense.

These offers were perceived by many as Hasina’s “return of favour” for India’s social support, reinforcing the storyline that she served American interests rather than her own individuals. Further eroded trust as a result of the fear that Hasina was turning Bangladesh into an Indian customer condition, similar to the death of Sikkim.

This view is key to Bangladesh’s federal consciousness. While Hasina’s state leaned heavily on India, regular Bangladeshis saw this marriage as manipulative. The Awami League’s law became associated with both local persecution and additional persecution.

Yet, India, remarkably, seems oblivious to the deep resentment this has fostered. Indian policymakers have historically seen their relationship with Bangladesh through the lens of Hasina, failing to meaningfully engage with the Bangladeshis.

India’s missteps were compounded by its media establishment, which played a significant role in distorting the narrative around Bangladesh’s political student-led revolution that ousted Hasina, as she shamefully fled to India by helicopter.

Rumor Scanner discovered that 49 Indian media outlets had spread 13 false stories about Bangladesh, many of which depicted the country’s democratic uprising as an Islamist insurgency.

One of the most glaring examples was Indian media’s coverage of the post-Hasina uprising. Newspapers like Firstpost and The Economic Times made illogical claims that China and Pakistan’s ISI intelligence agency orchestrated the protests to install an anti-India government.

Such propaganda did not only include opulent media outlets. Mamata Banerjee, the chief minister of West Bengal, joined the chorus and demanded an UN mission to help in Bangladesh. This action heightened tensions even further.

India framed the post-revolution backlash against the Awami League’s oppressive apparatus as targeted Hindu oppression, ignoring its roots in widespread political grievances.

India further alienated Bangladesh’s people by reducing the uprising to a communal narrative, presenting it as an attempt to shield a discredited regime under the pretext of protecting minorities.

The Agartala attacks and the communal framing of events in the Indian media have only heightened anti-India sentiment in Bangladesh.

Indeed, these narratives ignored the democratic essence of the uprising, portraying it instead as a threat to regional stability. By perpetuating such disinformation, Indian media and politicians alienated the Bangladeshi populace further.

Rebuilding trust

As Bangladesh transitions from Hasina’s authoritarianism, India faces a critical choice: continue the policies of the past or recalibrate its approach to reflect the aspirations of a democratic Bangladesh. In order to achieve this, New Delhi must fundamentally alter its engagement strategy.

    Engage without any plans to bring Sheikh Hasina back: India must give up its obsession with bringing the Awami League back to power. Any efforts to stifle Hasina’s return or sway domestic politics in Bangladesh will face opposition, which will unfavor bilateral ties irreparably. India should instead concentrate on interacting with Bangladesh’s new leaders and fostering relationships that promote reciprocity and democratic values.

  1. Recognize its contribution to the decade of oppression: Indian policymakers must acknowledge their contribution to enabling Hasina’s oppressive regime. This is a necessary step in the rebuilding of trust, not just an introspection exercise. By putting pressure on Hasina, India suffocated a country that had valiantly fought for the 1990s ‘ restoration of democracy. Without India’s active effort to make amends for its mistakes, this betrayal of democratic ideals will not be forgotten.
  2. Promote equity in partnerships: Bangladeshis widely perceive India’s deals with Hasina’s government as exploitative, benefiting India at Bangladesh’s expense. Moving forward, New Delhi must prioritize equitable agreements that serve both nations ‘ interests. This includes open negotiations on trade, energy, and transit that show a genuine partnership rather than power imbalance.
  3. Combat misinformation and fabricated stories: The Indian media needs to stop spreading false information about Bangladesh. Recognizing the democratic essence of Bangladesh’s struggles, rather than framing them as communal or Islamist threats, is crucial. This also extends to Indian political discourse, which must shed its communal lens when analyzing Bangladesh’s internal affairs.

Burying the Hasina past

India’s relationship with Bangladesh cannot continue to be boundless by the Hasina era.

India must make amends for the country’s role in maintaining a system that stifled democracy and alienated its citizens in order to find a new course. From political interference to exploitative deals and divisive media narratives, it must first acknowledge the harm that its actions have caused.

Bangladesh’s fight for democracy has been long and arduous. Having emerged from the shadows of dictatorship, the nation now seeks a partner, not a patron. For India, this is an opportunity to build a relationship rooted in equality, respect and shared aspirations.

However, if New Delhi fails to adapt and continues to provoke during Bangladesh’s transition toward a new national identity, it runs the risk of causing the country to go down a similar path as Pakistan, which is defined by resistance to Indian influence.

India’s choice is clear: rebuild trust and embrace a democratic Bangladesh, or remain haunted by the legacy of a lost decade.

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Reminder to America: How republics succeed, falter and fail – Asia Times

The US has a fragmented and impressive economy that draws international talent and unparalleled military strength, which gives it an edge over other republics.

Yet the Roman Republic, which had its own analytical benefits, eventually fell to authoritarian rule, and the US faces a similar fate if it fails to protect administrative dignity and unchallenged power continues to grow.

Reform is essential to maintaining democratic government, but history shows that enshrined strength frequently threatens this process. Social function and the growing impact of business interests threaten to destroy the basic principles of the US, posing a threat to its long-term security.

From its beginning, the US has worked to address its internal inconsistencies by guaranteeing good therapy for its citizens. Autocratic impulses even emerged first, with minute President John Adams’s Alien and Sedition Acts targeting political dissent, refugees, and free conversation.

Lincoln later expanded his executive power during the Civil War, avoiding Congress to protect the Union and end slavery, which has become the most controversial and considerable political issue since the country’s founding.

Despite for departures from Constitutional procedure—sometimes for great reasons—the system’s checks and balances finally resisted after senior overreach, likeFDR’sfailed Court-Packing plan.

The unique political challenges facing democratic techniques are concerning, but the degradation of democratic culture also causes irreversible shifts in the political landscape. Political bribery, unregulated imperialism, and government serving business interests over citizens mix to continuously get the system.

A select group of actors has created a constant, increasingly scripted cultural-political spectacle, causing civic decay. As a result, the public has reduced active participation in governance in exchange for the passive right to cheer or criticize from the sidelines.

The Roman Republic’s collapse, which endured for centuries before becoming a slave country, provides valuable context—lessons on not only what values to uphold but also on how reform efforts can backfire.

Half-hearted efforts to fix inequality and instability often strained the system, pushing it closer to dysfunction and leading it to autocracy. Learning from Republican Rome’s successes and failures can be applied to the challenges of today.

A balanced republican political system encourages elites to compromise, build consensus, and compete for public approval, qualities the early Roman Republic struggled to develop after its establishment in 509 BC.

The Senate, which was largely dominated by the patrician aristocracy, had theoretically the power to act as an advisory body, but in reality it had significant influence over finances, foreign policy, and much of the legislative process. Nonetheless, there was strong competition among patrician families for the two annual consulship positions.

In addition to limiting any power concentration, these roles, which were filled through the cursus honorum ( course of honor ), allowed two capable leaders to ascend to the position in a predetermined hierarchy and shared short-term executive authority.

Consuls often entered the Senate or assumed other political positions after their terms, where they could be prosecuted for misconduct. Because of this rotation and accountability, leaders ‘ interests were better off running the state than accumulating personal acclaim for their roles or accomplishments.

The design of Roman statues also supported this culture, celebrating the civic virtue of individuals over personal achievements. In deft contrast to the idealized perfection of Greek art, the stereotypes depict aging and imperfections. The Republic also barred actors from government, viewing their imitation of life as deceptive and unworthy of public office.

Republican Rome thrived on political engagement, despite uneven participation, like other effective republican city-states. The Republic’sseasonal political process, shaped by agricultural cycles, military campaigns, and religious festivals, advantaged wealthy landowners who could afford to leave their estates for politics, perpetuating uneven and inconsistent efforts to address problems.

Military victories were frequently a factor in political advancement, which made them popular and occasionally pursued for personal reasons rather than strategic reasons.

Yet this seasonal structure still created predictable opportunities for many citizens to travel to Rome to participate in political affairs, ensuring concentrated and focused decision-making during key periods. Additionally, it found ways to lessen the power imbalance between the patricians and the commoners, or plebeians.

TheConflict of the Orders (5th to 3rd centuries BC ) brought about significant gains for plebeians. Rome’s economy was severely hampered by mass strikes, and soldiers refused to fight, leading to changes like the Concilium Plebis, along with theComita Tributa.

Additionally, after 451 BC, legal safeguards via the Twelve Tables and the establishment of the Tribunes of the Plebs—two annually elected magistrates with executive power to protect plebeian interests—were also won.

Plebeians gained greater social mobility during the fourth century BC, including the right to wed patricians, as well as gaining access to the consular office, the Senate, and other positions of religious authority.

After 338 BC, the Latin Rights extended certain privileges to non-Roman communities in Italy, such as intermarriage and participation in commerce. Although full citizenship gradually became available, these measures integrated new populations while preserving the identity of Roman citizens.

Despite the Republic’s growing wealth and territories, inequality remained rife. The army’s backbone was made up of Plubeians, who suffered the most from imperial expansion but hardly received any rewards.

Longer military service in support of campaigns left them unable to tend to their farms, indebting many. Plubeians frequently capitalized on this by acquiring their lands, but the use of slave labor during conquests reduced plebeians ‘ bargaining power as necessary workers. Many moved to Rome, swelling the urban poor.

Prior republics, including Rome, had a history of erasing debts and lowering slavery to restore economic balances, but these measures ceased in the Late Republic. Expansion also strained governance, as new territories were home to communities who had fewer rights than Roman citizens andpaid heavily in taxes, further exposing the Republic’s systemic inequities.

Policies intended to combat inequality frequently ended up worsening it. The Lex Claudia ( 218 BC ), for instance, barred senators and their sons from owning large commercial ships to prevent them from dominating Rome’s expanding maritime trade. However, this primarily benefited wealthy Plebeians and other elites who could afford their own fleets, widening economic disparities.

Richer plebeians also disproportionately benefited from privilegeslike access to higher office, enabling only some to join the senatorial elite. The horseman’s order, which had its roots in Rome’s cavalry, eventually developed into a distinct wealthy class. Though largely lacking formal political power, members enjoyed elevated benefits and economic strength that deepened Rome’s social stratification.

Many of the new elites developed into populist reformers, or<a href="https://www.thoughtco.com/ancient-roman-history-<a href="https://www.thoughtco.com/ancient-roman-history-optimates-119359″>optimates-119359″>populares ( “for the people” ), or<a href="https://www.thoughtco.com/ancient-roman-history-optimates-119359″>optimates ( “best men” ), who opposed the senatorial elite. Distinctions between the two groupswere not always strict—the <a href="https://www.thoughtco.com/ancient-roman-history-<a href="https://www.thoughtco.com/ancient-roman-history-optimates-119359″>optimates-119359″>populares included both new aristocratic elites and sidelined senatorial factions seeking to reclaim influence lost to dominant <a href="https://www.thoughtco.com/ancient-roman-history-optimates-119359″>optimates.

Populares-aligned politicians used plebeian support to alter the power balance in their favor, shifting from genuine reform to self-serving opportunism. Alliances were fluid, showing how Roman politics often prioritized status and influence over rigid ideology.

Plebeians ‘ demands for greater equality were further fueled by elite infighting, which used their citizenship and numbers to further their advantage. Political gridlock became more frequent, and violence escalated.

Numerous of their supporters were killed in addition to prominent pro-Plebean leaders like Tiberius Gracchus ( 133 BC ), Gaius Gracchus ( 121 BC ), and Publius Clodius Pulcher ( 52 BC ). In this way, Roman politics devolved into a zero-sum struggle where the defeated often faced death.

They were more prone to break with political customs and precedents when it was appropriate for their cause because of the use of violence and intimidation to harm plebeian interests, coupled with persistent inequality. Power was increasingly extended in executive positions, with populares-aligned Gaius Mariusholding seven consulships, and citizen soldiers showing increasing loyalty to individual commanders rather than the state.

A dramatic overcorrection resulted from Marius ‘ eventual defeat by Lucius Cornelius Sulla, a patrician allies ‘ ally. During his dictatorship ( 82–79 BC ), Sulla’s constitution aimed to curb instability by empoweringthe old aristocracy and Senate, severely weakening the tribunes, and restricting thepowers of citizenship.

The enthralled aristocracy failed to address the root causes of economic inequality. Ambitious figures like Pompey, through military power, and Marcus Licinius Crassus, through immense wealth, exploited these tensions to consolidate power and play kingmaker.

Under Julius Caesar’s plebeian-friendly policies bypassed the Senate by utilizing popular assemblies, Sulla’s reforms ultimately failed, exposing the new fragility of Rome’s legal system.

Thegrowing glorification of individual leaders reached a turning point when Caesar became the first living Roman to appear on a coin, a stark departure from tradition. After being deemed a dictator for life, his assassination by senators infuriated the electorate, which sparked a power struggle and civil war. This ultimately led to the rise of Caesar’s adopted heir, Octavian, who centralized authority in 27 BC and later became known as Augustus.

Many Romans willingly traded their political rights for oligarchic rule, violence, and uncertainty while maintaining a facade of republican governance. When rumors spread of Octavian relinquishing his special powers, public sentiment opposed the idea.

With the emergence of the Roman Empire, an urban proletariat that was dependent on state-sponsored food distribution and entertained by gladiator games became more and more peaceful under the strategy of “bread and circuses,” strengthening the new order.

A reshuffling of the nobility, suppression of opposition, and unchecked territorial expansion fueled instability in Republican Rome. Despite its 500-year existence and shoddy attempts to address it, persistent inequality remained the Republic’s fundamental flaw.

These pose lessons for the US today. Inequality continues to be a major issue in the US. Once marked by strong social mobility, at least for white residents, ithas declined since the 1940s, initially due to the end of the post-war boom but now reflecting deeper systemic flaws.

US social welfare falls behind in comparison to the EU, and policies like corporate bailouts highlight how citizens bear the burden of debt while large corporations profit from government regulation and lucrative contracts. Aculture of consumerism encourages US citizens to take on debt, mirroring the problems of the Roman Republic, instead of building a more efficient economic system.

Republican Rome’s challenges and those faced by the US are similar, but each has its own unique set of problems. In Rome, the wealthy were directly involved in political life, using their influence to shape decisions.

In contrast, US elites have access to representatives, who are encouraged to advance their interests despite not typically coming from the wealthiest social classes. This indirect control reduces the accountability of the elite, as their influence is masked by the modern US political structure and hidden from public view.

Although corrupt or incompetent politicians can be imprisoned or tried for, those who are truly responsible for the system remain largely unaffected, allowing the pay-to-play political system to continue unabated.

Rome’s political processes grew opaque and less respected, a trend increasingly seen in contested US elections in recent decades. After George W. Bush’s contentious victory in 2000 and Trump’s victory in 2016, there were still doubts among Democrats that remained within institutional boundaries.

However, election denial escalated dramatically with Trump’s response to Joe Biden’s 2020 victory, and the ensuing 2021 insurrection marked a major challenge to the peaceful transfer of power and trust in electoral integrity.

Establishing trust in the process calls for strict rules regarding voting, role assignment, and transparency in procedures. Laws crafted through open processes rather than private deals are crucial, allowing citizens to view the electoral process and governance as fair, smooth, and rooted in mutual understanding.

However, the risks of unrelenting public political engagement have grown even more acute. Modern technology enables 24/7 politicization, and constant campaigning distracts from governance and risks citizen burnout.

Public apathy makes it possible for organized elites to rule politics, and only well-resourced groups can effectively mobilize and strategize, according to legal scholar Ganesh Sitaraman.

The US judiciary remains distinct in its reliance on common law, a system shared by a few English-speaking countries, allowing adaptability through evolving precedents as new cases are brought forward.

Juries ‘ use imposes a fundamental responsibility on citizens ‘ moral and legal judgment, ensuring public participation. However, this system is increasingly vulnerable to politicization, as judicial appointments and voting processes for judges and other judicial/law enforcement positions risk undermining impartiality and fairness.

Political parties were also opposed by the Founding Fathers because they feared factionalism would sever national unity. Today, the two major parties and their supporters increasingly treat politicsas a sports rivalry, prioritizing spectacle over policy debate.

Both parties rely on the power of celebrity to entice voters, with Ronald Reagan becoming the first actor-president in 1981, followed by entertainer Trump in 2017, while Democrats have consistently relied on the power of celebrity to win over voters.

This reliance on high-profile public figures allows citizens to disengage, as these amplified individuals are granted tacit approval to shape policy—even when they lack the expertise to do so—reducing the public’s role in democratic governance to passive spectatorship.

Violent language undermines the foundation of republican culture of compromise. While Trump is commonly associated with this trend in the US ( and remains its most persistent voice ), Democrats have also contributed. In the 1960s and 1970s, political violence was primarily directed at influential US figures, but it is now increasingly threatening local officials as well.

Comments about the existential danger posed by political opponents have been consistently undercut by post-election embraces. Trump was welcomed back to the White House by President Obama in 2016, just like Biden did in 2024, and he also toned down his stance toward them after victories. These radical shifts in messaging reveal the performative nature of politicians ‘ language and weaken the credibility of political discourse.

A healthy republic relies on the public’s support and deliberation as its last resort. Yet although Congress holds the constitutional authority to declare war, it has not done sosince 1941.

Instead, executive war powers have grown as a result of the abuse of emergency measures, preventing public sway over war and peace decisions. Numerous presidents have labeled major recent wars like Vietnam, Iraq, and Afghanistan as mistakes, eroding trust in leadership to responsibly conduct war.

The Trump administration now has to address undocumented populations and immigration. Past policies like Reagan’s Amnesty Bill and Obama’s executive action for so-called Dreamers caused friction and had far-reaching political consequences. Immigration was a central issue in the 2024 election, with Trump likely to have a strong support for a crackdown on illegal immigrants.

Solutions, however, must go beyond piecemeal fixes or mass deportations, which risk violating human rights and republican ideals. The main problems with immigration reform and enforcement are also ignored by less drastic approaches, like those pursued by Biden.

Rome offers a cautionary tale: patricians and plebeians showed rare unity in the Late Republic when they united against Gracchus after hepledged to extend citizenship rights to other populations. The situation demonstrates the need to increase responsibility.

The US economybenefits from labor tied to undocumented populations, and the root causes of migration, includingdecades of US intervention in Latin America, must also be acknowledged.

The US was initially established as a republican league of states, but it soon realized that national cohesion was necessary to ensure security and economic cohesion. Over time, the growing centralization of authority in Washington eroded the balance of this system and led to fears of ever-expanding executive power, particularly over matters of war.

This consolidation of power made the federal government more assertive and interventionist in its foreign policy, enabling it to project influence globally. Yet US states retain significant rights, functioning in a federated system with distributed powers that allow states to experiment with their own agendas. Among the options available to them are working together to counterbalance federal authority include health care reforms, voting rights, and working together.

American citizens also benefit from strong protections enshrined in the Bill of Rights, which, despite historical flaws in terms of racial and gender equity, established safeguards against government overreach.

However, a hesitance to fully leverage these rights remains, partly due to ignorance. Rights that are intended to advance all citizens, such as the right to bear arms, or judicially decided issues like access to abortion, frequently turn into sources of conflict and are presented as victories for one side as opposed to universal benefits.

This risks turning benefits into partisan battlegrounds, undermining their broader societal purpose. Many of the rights that Americans enjoy were secured by legislative action driven by social movements, not by courts interpreting the Constitution, which shows that the true source of rights is in the collective efforts of citizens and legislators.

US presidents have been generally unable to radically alter the nation’s political system, though the Jacksonian era proves there are exceptions. The two-party system was strengthened, the use of veto power expanded, and centralized executive authority were all the results of Andrew Jackson’s presidency ( 1829–1837 ), which fundamentally altered the role of the presidency.

Jackson, a populist, challenged corrupt elites and the political establishment but also aggravated tensions between the federal and state governments. Democratic participation was increased, but it was only for white men, and led to the substitution of officeholders with individuals loyal to them, with support for the continuation of slavery and the ethnic cleansing of Native Americans.

Concentrating authority away from the executive in a few oversight bodies or enlarged bureaucracy can also backfire, often encouraging corruption rather than transparency. For instance, in the 1970s, legislative changes to campaign finance intended to improve transparency unintentionally led to an increase in lobbying, attack ads, and electoral exploitation.

This shift, intended to curb corporate influence, instead deepened it, allowing corporations and interest groups to find new ways to wield power. While the founding fathers were focused on preventing tyranny through checks and balances, they were unable to anticipate the significant influence that corporate interests would have on political outcomes, leading to the development of a system where legal monetary contributions increasingly predominate policy.

The US faces a major struggle in adapting its republican system to the realities of the 21st century. Executive power has played a key role in addressing significant issues, such as the end of slavery, but it also poses a risk of abuse.

Efforts to forcefully reform republics from the top down, like those seen in Rome, often impose rigid systems that fail to meet society’s evolving needs. On the other hand, overreliance on populist power without the necessary safeguards can lead to impulsive choices and unstable government.

Rejecting populism does not equate to diminishing civic engagement, rather, it calls for more sophisticated participation for constructive political processes. Important power is still in place for Americans, including the right to organize, protest, and use of free speech and association.

Realizing the full potential of these rights and their responsible use requires a deeper understanding of the political system and a commitment to responsible use.

This can be accomplished by gaining knowledge from other nations that support public funding, educate young people, and promote political legitimacy through transparency and participation.

Ignoring the need to address the decline in civic culture and public understanding of the system of government will further weaken the foundation of democratic practices.

Although organizations like the Bipartisan Policy Center have been criticized for being compromised by corporate interests, reforming the US republic is necessary because of this.

Over time, bipartisanship has become entrenched as a long-term alignment in support of big-money interests and an imperialist foreign policy, sidelining efforts for systemic change and diverging sharply from the best aspects of the early US vision.

Contrastingly, many reform advocates advocate for quick fixes rather than lasting solutions, often through partisan lenses, populism, or authoritarian impulses.

Meaningful reform, however, will be a slow and contentious process, and progress will remain elusive without addressing the root causes of major problems and accepting a collective responsibility to solve them.

John P. Ruehl is a world affairs correspondent for the Independent Media Institute and an Australian-American journalist who resides in Washington, DC. He is a contributor to several foreign affairs publications, and his book, Budget Superpower: How Russia Challenges the West With an Economy Smaller Than Texas ‘, was published in December 2022.

This article was written by Human Bridges and republished with permission.

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India’s ‘blockbuster’ drugs to combat antibiotic-resistant superbugs

Getty Images Medical staff attend to Covid-positive patients in the ICU ward at the Holy Family hospital on May 06, 2021 in New Delhi, India. Getty Images

Antibiotics are hailed as skilled saints.

But they are extremely confronted by a careless adversary: bacteria that develop, adapt, and outperform the very medications used to stop them and treat the infections they cause.

These antibiotic-resistant “superbugs” directly caused 1.14 million deaths worldwide in 2021, according to The Lancet, a medical journal. Antibiotics – which are considered to be the first line of defence against severe infections – did not work on most of these cases.

India is among the countries hardest hit by “antimicrobial resistance”. In 2019 alone, antibiotic-resistant infections caused around 300,000 deaths. They alone are responsible for the deaths of nearly 60,000 newborns each year.

But some promise is on the ocean. A number of appealing locally-developed innovative drugs show ability to combat antibiotic-resistant pathogens. They also offer a game-changing solution to keep last-resort solutions.

Getty Images Antibiotic resistant Pseudomonas aeruginosa bacteria, 3d illustration.Getty Images

Enmetazobactam, developed by Chennai-based Orchid Pharma, is the first antimicrobial invented in India to be approved by the US Food and Drug Administration ( FDA ). This injectable drug targets bacteria’s defense mechanisms rather than the bacteria itself, treating severe conditions like urinary tract infections ( UTIs ), pneumonia, and bloodstream infections.

Bacteria often produce proteins, like beta-lactamase, to kill medications. Enmetazobactam essentially kills the bacteria by resolving its kinase with those enzymes, which the antibiotic then neutralizes.

To put it simply, the medicine immobilises the virus’s “weapon” without triggering weight quickly. This also preserves the effectiveness of various antibiotics, including cephalosporins, which are the reliable “last series of military” drugs.

Testing across 19 nations- the drug has been approved by international regulators- with more than 1, 000 patients have shown its success. The medicine has demonstrated extraordinary potency in treating these bacterial strains that have evolved over time. It is administered via intravenous]IV] injection in institutions, exclusively for critically ill patients, and is not available over the counter”, Dr Maneesh Paul, the prospect co-inventor of the medicine, told the BBC.

Mumbai-based Wockhardt is testing a fresh antibacterial, called Zaynich, for serious drug-resistant diseases. Developed over 25 years, the drug is now in Phase-3 testing and expected to launch next month.

Dr Habib Khorakiwala, founder chairman of Wockhardt, has described Zaynich as a “ground-breaking, one-of-its-kind new antibiotic designed to combat all major superbugs”. It was administered on compassionate grounds to 30 critically ill patients in India who were unresponsive to any other antibiotics. Remarkably, all survived. “This would make India proud,” Dr Khorakiwala said.

Getty Images Wockhardt Towers at the Bandra Kurla Complex (BKC) in Mumbai, India, on Tuesday, May 21, 2024. The Indian rupee's top forecaster is going against the majority. The currency will tGetty Images

Also in Phase-3 testing is Wockhardt’s Nafithromycin, trademarked as MIQNAF, a three-day oral treatment for community-acquired bacterial pneumonia with a 97 % success rate. Existing solutions for the illness have tolerance levels of up to 60 %. The company claims that it could be competitively launched by the late end of the year when its studies are completed.

A 30-member Bengaluru-based biotech firm Bugworks Research has partnered with Geneva-based non-profit Global Antibiotic Research and Development Partnership, or GARDP, to create a new category of medicines for treating severe drug-resistant diseases. Now in early Phase-1 tests, the medicine is five-to-eight years from marketplace readiness.

“Antibiotics are becoming less effective, but big money is in drugs for cancer, diabetes and other conditions, not antibiotics,” Anand Anandkumar, CEO of Bugworks, told the BBC.There’s little innovation because antibiotics are kept as a last-resort option. Big pharma isn’t focusing on antibiotic resistance. We’ve been funded by different organisations, but less than 10% of our funding comes from India.”

But that needs to alter. Concerning trends in antibiotic resistance were highlighted in a 2023 drug resistance surveillance report from the Indian Council of Medical Research ( ICMR), which looked at nearly 100 000 bacterial cultures from 21 specialized care hospitals throughout India.

The most frequently identified pathogen was E. coli ( Escherichia coli), which is found frequently in people’s and animals ‘ intestines after consuming contaminated food.

Klebsiella pneumoniae, which can cause asthma and even infects the heart, cuts in the epidermis and the brain’s lining, which can cause meningitis, followed by this. The multidrug-resistant disease Acinetobacter baumannii, which attacks patients on life aid in critical care units, was on the rise as well.

The survey revealed that Klebsiella pneumoniae showed an alarming increase in drug resistance while antibiotic usefulness against E. coli had constantly strongly decreased. Doctors discovered that some of the major medicines had less than 15 % success in preventing attacks brought on by these diseases. Most worrying was the rising resistance to carbapenems, a crucial last-resort antibiotic.

Getty Images Drug prescription for treatment medication. Pharmaceutical medicament. Pharmacy theme, capsule pills with medicine antibiotic in packages.Getty Images

” It’s like playing whack-a-mole with bacteria. They evolve at an incredibly fast pace, and we’re constantly playing catch-up. You get rid of one, another pops up. We need more technology and to learn from history errors”, Dr Manica Balasegaram, senior director of GARDP, told the BBC.

No surprisingly, GARDP is focussing on India. It’s collaborating with Hyderabad-based Aurigene Pharmaceutical Services to create zoliflodacin, a book oral antibiotic for chlamydia, a sexually transmitted disease which is showing increasing resistance to antibiotics. In 135 countries, GARDP has established a partnership with Japan’s Shionogi to disperse cefiderocol, a revolutionary FDA-approved antibacterial for strong infections like hospital-acquired pneumonia, along with plans to make it available in India.

This is only the beginning of the narrative, though. Doctors claim that Indian drug prescribing practices desperately need to be changed. The widespread usage of broad-spectrum medicines, which target a wide range of bacteria but can eliminate fine bacteria, have negative effects, and increase antimicrobial resistance, fuels drug resistance by encouraging the development of drug resistant mutants.

Instead, say physicians, narrow-spectrum medications may become prioritised. But hospitals usually lack antibiograms- microbiology-based antimicrobial guidelines- forcing doctors to recommend “broadly and indiscriminately”.

AFP People cover their face with cloth masks to the protect themselves from pollution at hospital, on November 19, 2024 in New Delhi, India. AFP

” These novel medicines will certainly make me excited,” he said. However, it’s also crucial that we develop mechanisms to prevent them from being used in the same way as they have recently been with [what was again also] hit drugs. The durability of these new drugs may be hampered by poor and careless use, warns Dr. Kamini Walia, a scholar at ICMR.

The quick mutation of germs, which can develop in a matter of hours, underscores the necessity of a systematic approach. This includes reducing infection through better water, sanitation and hygiene, improving immunization adoption, strengthening hospital infection control laws, educating doctors and deterring self-medication by people. ” Combating antibiotic resistance is a complicated, multi-faceted problem tied to care equity and structural accountability”, says Dr Walia.

The message is clear: without immediate action, we risk a potential where yet relatively small infection had become intractable.

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Musk’s DOGE could protect Asia from Trump’s tariffs – Asia Times

Elon Musk, the driving force behind Tesla and SpaceX, has consistently disrupted traditional industries with his relentless focus on innovation, efficiency and radical change. 

Now, as co-head of the newly established Department of Government Efficiency (DOGE) in Donald Trump’s incoming administration, Musk is poised to reshape not just the US government but potentially the global economic landscape. 

While the overarching goal of DOGE is to cut bureaucratic waste and streamline public services, Musk’s involvement signals a more ambitious agenda: a fundamental rethinking of how technology and government intersect, with significant implications for Asia’s economies.

The world’s richest man’s influence in the new administration is not merely symbolic. His reputation as a disruptor suggests he will bring a Silicon Valley mindset to Washington, advocating for aggressive digitization, automation and the adoption of emerging technologies across government operations. 

This approach, however, is far from straightforward, especially when viewed through the lens of Trump’s threatened new tariffs. These protectionist measures, designed to bolster domestic industries, add a layer of complexity to Musk’s efficiency mission. 

For Asian economies, which are deeply integrated into global supply chains and heavily reliant on trade with the US, the combination of Musk’s efficiency drive and Trump’s tariffs presents both risks and opportunities.

One of the immediate effects of Musk’s leadership within DOGE could be the acceleration of technological adoption in areas like customs and border control. 

Streamlined processes powered by artificial intelligence and blockchain could reduce administrative bottlenecks, making trade faster and more transparent. This would be a welcome development for exporters across Asia, particularly in countries like South Korea, Japan, and Vietnam, where delays and inefficiencies often add significant costs. 

But these procedural improvements may be offset by the financial burden of higher tariffs, particularly in key sectors such as electronics, automotive parts and machinery.

For example, South Korea’s semiconductor industry, which plays a crucial role in the global tech supply chain, will face increased costs due to the new tariffs. While Musk’s push for efficiency might lower non-tariff barriers, the direct impact of higher duties cannot be ignored.

Similarly, Japan’s automotive sector, a major exporter to the US, will need to tackle this challenging landscape. Musk’s known advocacy for electric vehicles (EVs) and sustainable technologies could open doors for collaboration in these areas, but traditional manufacturers may find themselves under pressure to adapt quickly or risk losing market share.

China, the primary target of Trump’s tariffs, faces a particularly nuanced challenge. While the tariffs themselves are a clear obstacle, Musk’s efficiency reforms could paradoxically benefit Chinese exporters by simplifying compliance and reducing bureaucratic hurdles. 

Tesla’s significant presence in China, exemplified by its Gigafactory in Shanghai, positions the country as a potential partner in Musk’s broader vision of government efficiency and technological integration. 

However, the geopolitical tensions underpinning US-China relations complicate this dynamic. Beijing’s response will likely involve a careful balancing act, seeking to leverage any benefits from Musk’s reforms while countering the broader impact of higher tariffs.

India, on the other hand, may find itself in a more advantageous position. With its growing emphasis on digital infrastructure and renewable energy, India aligns well with Musk’s priorities. If DOGE promotes closer US-India cooperation in these areas, it could catalyze significant investment and innovation.

Tesla’s long-anticipated entry into the Indian market could finally materialize, driven by a more favorable regulatory environment shaped by DOGE’s initiatives. Beyond Tesla, the broader renewable energy sector stands to gain, with potential collaborations in solar power, battery storage and electric mobility.

The financial markets are already reacting to the twin forces of Musk’s appointment and Trump’s tariffs. Investor sentiment in Asia is mixed, reflecting both optimism about efficiency gains and concern over protectionist policies. 

Currencies in export-dependent economies like South Korea and Japan are under pressure, while equity markets are closely monitoring developments. In the medium term, much will depend on the extent to which Musk’s reforms can offset the trade frictions caused by tariffs. 

If DOGE succeeds in making the US government more agile and responsive, the resulting improvements in trade logistics could mitigate some of the negative impacts on Asian exporters.

However, it would be a mistake to view Musk’s role purely through an economic lens. His broader vision encompasses a reimagining of governance itself, with implications that extend beyond trade and tariffs.

Musk’s commitment to sustainability, for instance, is likely to influence DOGE’s priorities, potentially leading to increased support for clean energy initiatives. This could create new opportunities for Asian countries that are leaders in renewable energy technologies. 

Japan’s investment in hydrogen, South Korea’s leadership in solar manufacturing and India’s ambitious renewable targets all position these nations as potential partners in a global shift toward sustainability, driven in part by Musk’s influence.

In this context, Musk’s impact on US-Asia relations will be profound but not uniform. Countries that can align with his efficiency agenda and invest in next-generation technologies will likely emerge as winners. 

Those who remain reliant on traditional export models may struggle to adapt. The key for Asian economies will be agility and innovation—traits that Musk himself embodies. Ultimately, Musk’s leadership of the new DOGE represents a bold experiment in governance. For Asia, the stakes are high, but arguably so are the opportunities.

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FinanceAsia Achievement Awards 2024: the winners | FinanceAsia

FinanceAsia ‘s&nbsp, annual Achievement Awards recognise excellence across the divers financial markets of Asia Pacific ( Apac ) and the Middle East.

The Achievement Awards, which span five distinct categories, include Deal Honors for Apac and the Middle East, House Awards for Apac and the Middle East, and our Dealmaker Poll, show the achievements of major players in these areas as well as those who have shown commitment to their industry.

We’re pleased to announce that the judging process for this year’s awards has now come to an end after receiving almost 1, 000 submissions from our Advisory Board of external specialists and the help of our editorial staff.

Below are the types and winners’ respective links. &nbsp,

The logic behind success collection will get published in our upcoming&nbsp, FinanceAsia&nbsp, reports. Please call the&nbsp, FinanceAsia staff if you have any concerns. &nbsp,

You see all the winners below: &nbsp,

FinanceAsia Achievement Awards 2024: Apac’s best talks

FinanceAsia Achievement Awards 2024: Middle East’s best offers

FinanceAsia Achievement Awards 2024: Dealmaker Poll finalists

FinanceAsia&nbsp, Achievement Awards 2024: Apac’s best funding homes

FinanceAsia&nbsp, Achievement Awards 2024: Middle East’s best funding houses

¬ Capitol Media Limited. All rights reserved.

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