Delusion of de-escalation on the China-India border – Asia Times

In late October 2024, India and China began implementing what was touted as a monument alliance to de-escalate conflicts along their disputed Himalayan border, a place known as the Line of Actual Control, or LAC.

The deal, forged ahead of a conference between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi, marking the leaders ’ first official talks in five years, included provisions for army pullbacks, dismantlement of temporary facilities and a return to 2020 monitoring trends in contested places such as Depsang and Demchok in eastern Ladakh.

Though touted at the time as the biggest thaw in relations since deadly high-mountain conflicts in the Galwan Valley in 2020, decades later, the partnership is proving more metaphorical than meaningful in addressing rooted issues and ensuring meaningful application.

Beneath the surface of this diplomatic facade lies a glaring contradiction where, on one hand, both sides publicly advocate peace, and on the other hand, their actions reveal a steadfast commitment to military preparedness and geopolitical rivalry.

The stark disconnect between the rhetoric of de-escalation and the realities on the ground underscores the hollow nature of the supposed breakthrough agreement. Aggressive military buildups are still in full effect for both countries along the LAC.

Using its “dual-use” infrastructure strategy, China has been building new villages and military outposts near the contested border. These sites, concealed as civilian infrastructure, boost China ’s capacity to quickly deploy forces and consolidate its control of contested territories.

At the same time, India has expedited its own infrastructure drive, including the construction of the Sela Tunnel, which ensures all-weather access to northeastern border regions. Far from a move toward genuine disengagement, this parallel buildup indicates that both sides are still preparing for the possibility of future confrontations.

Moreover, the so-called restoration of pre-2020 patrols raises doubts. India and China have fundamentally different interpretations of the LAC, and previous agreements to clarify the boundary have failed.

This ambiguity allows both nations to claim compliance while continuing to pursue their strategic objectives. Without a clear and enforceable mechanism to verify troop withdrawals and patrolling rights, the agreement has become an exercise in political theater rather than a genuine step toward resolution.

Similarly, China ’s recently unveiled plan to build the world’s largest hydropower dam on the Brahmaputra River presents a strategic threat to India. Located near Arunachal Pradesh, once operational, the dam will enable China to control water flows critical to millions of people in India’s remote northeast, threatening agriculture, water security and hydropower. This leverage will exacerbate India’s vulnerabilities.

While India is monitoring the project and planning countermeasures, the growing geopolitical imbalance highlights China ’s dominance in South Asia’s water politics. India also views China ’s assertiveness in the Global South and Indo-Pacific with growing unease, while China is wary of India’s rising aspirations for global recognition and its deepening ties with the West.

These conflicting interests make a comprehensive Himalayan reconciliation unlikely, leaving the agreement as little more than a tactical pause in an enduring standoff that has badly damaged broad relations, including crucially at the commercial level.

Ultimately, The India-China border agreement is a case of diplomacy without commitment. Both nations continue to prepare for conflict even as they talk of peace, rendering the agreement a contradiction in itself.

It shows clearly that agreements like these cannot be mistaken for strategic resets. Genuine peace requires not just words but actions that address the deep-rooted mistrust and conflicting ambitions that drive the rivalry, dating back to a border war in 1962.

Until then, Asia’s two largest nations will remain locked in a precarious and uneasy coexistence, with agreements serving as temporary bandages rather than lasting solutions to problems with the potential to become major destabilizing flashpoints.

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US sanctions take shine off Pakistan’s UN seat glory – Asia Times

Pakistan’s new election as a non-permanent member of the United Nations Security Council ( UNSC), marking the ninth time it earned the circular classification, should have been cause for political party.

Otherwise, the step arrived under the shadow of new US sanctions targeting Pakistan’s nuclear weapon system. The juxtaposition of these events raises important questions about the world’s future trajectory and the complex and frequently contradicting dynamics of its international relations.

It’s not easy to get a non-permanent chair on the UNSC. It signals that Pakistan’s contributions to global peace, its support for developing countries, and its position as a local power capable of fostering discourse in conflict-ridden regions are recognized internationally.

However, these accomplishments are obscured by the US’s decision to impose restrictions under its MTCR plan. The sanctions, apparently aimed at curbing proliferation risks, problem Pakistan’s storyline as a concerned global companion.

The punishment also show a pervasive problem line between the US and Pakistan. Although the two nations have previously worked together to combat terrorism and provincial balance, Washington has grown to see Pakistan’s strategic partnerships, particularly those with China, as a contrarian of US interests in South Asia.

The sanctions against the weapon system are more about a message to Islamabad: follow Washington’s political objectives or you’ll suffer the consequences.

Pakistan’s reaction to the punishment will become crucial in determining its political trajectory. Its UNSC account provides a system to amplify its speech on global problems, from climate change to cybersecurity, but the punishment underscore the boundaries imposed by great-power elections.

In a South Asian security environment that is extremely tense and disputed, Pakistan must find a balance between its relationship with the US and China and maintaining its proper autonomy.

The UNSC member nation of Pakistan is also at odds with the international platform that the sanctions challenge. By imposing unilateral sanctions, the US runs the risk of undermining the spirit of cooperation required to address shared world issues.

Pakistan, then in a position to control UNSC proceedings, could use its app to argue for a more healthy approach to non-proliferation and dispute resolution.

Pakistan’s enrollment in the UNSC offers an opportunity to reshape its reputation as a country committed to peace and development. The restrictions, however, show how persistently skeptical it is from important international people.

Pakistan has reaffirm its commitment to international standards, increase accountability in its security plans, and use its UNSC seats to foster dialogue on security and creation issues in order to counteract this tale.

Also, Pakistan’s management must realize that its coming as a world player depends on economic endurance and technological development. Beyond martial and proper paradigms, the tech sector’s expansion and weather leadership initiatives serve as the foundation for redefining its global role.

The UNSC election and US sanctions that Pakistan has carried out simultaneously demonstrate the dilemma of its international status as both a crucial companion and a proper problem.

Navigating this dichotomy may require deft politics, strategic vision and a renewed commitment to diplomacy. Pakistan’s authority on the UNSC can both strengthen its reputation as a responsible international actor or only aggravate the conflicts that have long plagued its international relations.

The margins have never been higher for Islamabad.

Iqra Awan is a research fellow at Quaid-i-Azam University, Islamabad. She can be reached at [email protected]

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Indian PM opens strategic tunnel to China border zones

India’s Prime Minister Narendra Modi inaugurated a strategic Himalayan road tunnel on Monday ( January 13 ), allowing for cross-border disputed high-altitude disputes with rivals China and Pakistan. The Z-Morh or Sonmarg pipe, which extends 6.4 kilometers beneath a dangerous mountain pass that is closed off by frost for fourContinue Reading

Asia’s Best Companies 2025 Poll — open now | FinanceAsia

Welcome to&nbsp, FinanceAsia ‘s&nbsp, annual poll, which celebrates Asia’s best companies across a range of markets and countries. In developing this priceless criterion of the country’s most important companies, their efficiency and corporate behavior in relation to their peers, we value the input of both investors and analysts.

We ask our audience to nominate any publicly traded Asian-based business that is leading in its field. It might be that the firm impresses in terms of new deal execution, inside structure, completed transactions, continued strategy, or possibly ESG credentials.

We want to&nbsp, hear from you! &nbsp, The second 100 voters may get one month free, unlimited access to all of&nbsp, FinanceAsia’s information. &nbsp,

To vote&nbsp, visit below. &nbsp, &nbsp, &nbsp,

Poll findings will be published via the&nbsp, FinanceAsia&nbsp, site and will provide traders nationally with special insight into Asia’s best-managed companies, both by country / market and by business industry.

Key Dates

Available for Nomination: &nbsp, Tuesday, Janaury 7 2025
Election Deadline: Thursday, March 6&nbsp, 2025 at evening GMT 8

Outcome Announcement: &nbsp,

North Asia, Southeast Asia and South Asia: &nbsp, Monday, March 24 2025&nbsp,
Regional: &nbsp, Tuesday March 25, 2025

Recommendations for Election

  • Each individual who submits a nomination may be asked to provide their contact information.
  • Each election type is&nbsp, special to each market/country. To register for more than one market/country, you perhaps click on the link provided at the end of the study to begin a new submission. &nbsp,
  • Please note that you are &nbsp, just required to fill in the areas in which you wish to make a nomination. You may skip and left the fields flat if there are any categories you do not want to nominate in.
  • Please note that&nbsp, you may not voting for your own business. Vote cast by a business for itself will not be counted.

IMPORTANT NOTE: Individual responses will remain confidential – they will only be aggregated to provide overall results.

¬ Capitol Media Limited. All rights reserved.

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How a food crisis in India fed America’s library collections

Getty Images A Sanskrit book in IndiaGetty Images

In 1996, Ananya Vajpeyi, a story graduate student, discovered the famous South Asia collection of books at the University of Chicago’s Regenstein Library.

” I’ve spent day in some of the leading South Asia books of the world, at Oxford and Cambridge, Harvard and Columbia. But nothing has ever matched the eternal riches held at the University of Chicago”, Ms Vajpeyi, then a visiting teacher at India’s Ashoka University, told me.

The 132-year-old University of Chicago homes more than 800, 000 levels related to South Asia, making it one of the world’s top choices for research on the area. But how did a place where there is such a treasure trove of North Eastern writing?

The answer lies in a programme called PL-480, a US initiative launched in 1954 under Public Law 480, also known as the Food for Peace, a hallmark of Cold War diplomacy.

Signed into law by President Dwight D Eisenhower, PL-480 allowed countries like India to get US corn with local money, easing their international exchange problem and reducing US deficits. One of the largest consumers of this meal aid was India, especially in the 1950s and 1960s, when it experienced severe food shortages.

Participating US institutions received the local coin money at no extra cost. These resources were used to purchase native books, periodicals, recorder records, and “other media” in many American languages, enriching collections at over two hundred universities. As a result, universities like the University of Chicago served as academic centers for South Eastern reports. According to Indian ancient laws, manuscripts were kept out.

Getty Images hicago, IL, USA - March 12, 2015: The Joseph Regenstein Library at the University of Chicago in Chicago, IL, USA on March 12, 2015.Getty Images

According to James Nye, chairman of the University of Chicago’s Digital South Asia collection, “PL-480 has had amazing and unexpected implications for the University of Chicago and for more than 30 different US choices.”

Building a compelling collection series from South Asia was not a simple task.

In Delhi, in 1959, a particular team made up of 60 Indians was created. Primarily focused on picking up state papers, the project expanded over five years to encompass books and periodicals. By 1968, 20 US institutions were receiving supplies from the growing set, as noted by Maureen LP Patterson, a leading bibliographer of South Asian research.

In a paper published in 1969, Patterson recounted that in the early days of the PL-480, the team in India faced the challenge of sourcing books from a vast, diverse country with an intricate network of languages.

They needed the knowledge of book dealers with a track record of good judgment and efficiency. Given India’s size and the complexity of its literary landscape, no single dealer could handle the procurement on their own, Patterson, who died in 2012, wrote.

Instead, dealers were selected from various publishing hubs, each focusing on specific languages or groups of languages. This collaboration worked seamlessly, with dealers sending titles they were not certain about for approval. The final selection rested with the Delhi office, Patterson noted.

Photographic Archives at the University of Chicago Joseph Regenstein LibraryPhotographic Archives at the University of Chicago

The program wanted to pick up a comprehensive collection of all-encompassing Indian fiction. Patterson wrote,” The policy netted a large number of detective stories and novels of no lasting value.”

In 1963, the option to buy books was narrowed down to “research level material,” and the intake of fiction in many languages was reduced by half. By 1966, more than 750, 000 books and periodicals were sent to American universities from India, Nepal and Pakistan, with India contributing more than 633, 000 items.

“We’ve sent works like History of India from 1000 to 1770 AD, Handicrafts in India, Hindu Culture and Personality: A Psychoanalytic Study, and more,” a report on a meeting in an US library on the programme in 1967 said.

Todd Michelson-Ambelang, librarian for South Asian studies at the University of Wisconsin–Madison, wonders if vast collections from the region in US and other Western libraries took away literary resources from the Indian sub-continent.

Founded during Cold War tensions and funded by PL-480, his university’s South Asia centre grew its library to more than 200, 000 titles by the 21st Century.

According to Mr. Michelson-Ambelang, the removal of books from South Asia through programs like PL-480″ creates knowledge gaps,” as researchers there frequently need to travel to the West to access these resources.

If all the books that were then purchased by US universities from India are still available there, it’s not clear whether or not. According to Maya Dodd, of India’s FLAME University, many books now unavailable in India can be found in the University of Chicago’s library collections, all marked with the stamp saying “PL-480”.

” Books that were awarded through the PL-480 program are still popular in South Asia for the most part. However, keeping up with temperature and humidity levels is frequently difficult due to white ants, pests, and poor preservation. In contrast, most materials in the West remain well-preserved thanks to the preservation and conservation efforts in our libraries”, Mr Michelson-Ambelang says.

Ananya Vajpayee Ananya VajpeyiAnanya Vajpayee

Another reason why Mr Michelson-Ambelang calls the Western libraries colonial archives “partly is because they serve academics, often excluding those outside their institutions. While librarians are aware of the barriers to sharing of South Asian materials, copyright laws only narrow these gaps.

So, what happened when the PL-480 programme ended?

Mr Nye says the end of the programme in the 1980s, shifted the financial burden to American libraries. “Libraries in the US have had to pay for the selection, acquisition, collection, and delivery of resources,” he said. For example, the University of Chicago now spends more than $100,000 annually on buying books and periodicals through the Library of Congress field office in Delhi.

Ms Vajpeyi believes the books-for-grain deal had a positive outcome. She studied Sanskrit, but her research in University of Chicago spanned Indian and European languages- French, German, Marathi, and Hindi- and touched on linguistics, literature, philosophy, anthropology, and more. ” At the Regenstein Library, I never failed to find the books I needed or get them quickly if they weren’t already there”, she says.

” The books are safe, valued, accessible and used. Everywhere I’ve been, I’ve visited libraries, archives, and other institutions, and the state of our nation’s economy is generally dismal. They were frequently lost, neglected, or otherwise rendered inaccessible in this case.

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Bangladesh-Pakistan thaw to redraw South Asia’s power map – Asia Times

Pakistan’s Prime Minister Shehbaz Sharif saw an opportunity to revive generally strained relationships just days after Sheikh Hasina’s withdrawal and Muhammad Yunus ‘ appointment as Bangladesh’s time chief executive.

Both officials have met half in the last few weeks, opening the way for a political reset with significant implications for South Asia’s politics, following a rare hot conversation between Islamabad and Dhaka.

Bangladesh has acted to end a specific security area at Dhaka Airport for Pakistani people, waived the need for physical inspection of packages, and welcomed the first strong cargo ship to dock at Chittagong Port from Pakistan.

These actions suggest a major heat trend. Pakistan and Bangladesh were after a single country before they split up following a terrible conflict in 1971. Since therefore, Bangladesh has developed stronger relations with neighboring India, Pakistan’s historic enemy.

Even though Pakistan officially recognized Bangladesh in 1974, the historical repercussions of the separation of East Pakistan in 1971 have long persisted in diplomatic relations, with persistently conflicted political and historical narratives also periodically stoking conflicts.

Sheikh Mujibur Rahman, Hasina’s parents, played a vital role in the isolation of Bangladesh, a tradition that added challenges to diplomatic relations. Sheikh Hasina’s relationship to India may have been influenced by that past.

However, Hasina’s ties with Islamabad were somewhat strained. Pakistan, which saw the tests when politically motivated, drew the ire of its own leaders from the Jamaat-e-Islami Party’s murder on conflict murder charges for events relating to 1971. In 2016, both countries expelled officials, more souring relationships.

On December 19, Sharif and Yunus met on the outside of the D-8 event in Cairo, Egypt, for their next meeting, taking place in New York City since September.

In Cairo, the two leaders expressed” satisfaction]with ] the increasing frequency of high-level contacts”, Sharif’s office said in a statement.

He expressed Pakistan’s “keen wish to increase bilateral cooperation, particularly in the areas of industry, people-to-people connections and social exchanges”.

In particular, Sharif mentioned the option for “new avenues of monetary cooperation” and industry in chemicals, concrete clinkers, medical goods, leather goods and the IT sector.

But, reflecting past scars, Yunus urged Sharif to” live the problems of 1971 to support Dhaka proceed forward with its relationship”, the Bangladesh official news agency reported.

” The issues have kept coming up,” he continued. Let’s settle those issues for us to move forward”, he told Sharif. It would be nice to resolve things “once and for all for the future generations”, Yunus said. &nbsp,

Before Hasina came to power in 1996, Dhaka had never previously requested an apology from Islamabad for the “genocide” committed during its war of independence.

In response, Pakistan only described the events as “regrettable” during former military dictator General Pervez Musharraf’s visit to Dhaka in July 2002.

Sharif informed his federal cabinet that his nation was beginning a new chapter of its relationship with Bangladesh upon returning from Egypt after a “positive engagement” in Cairo.

Additionally, he made the announcement that a high-level delegation would travel to Dhaka in February of next year, a ephemeral visit that might alter the dynamics of South Asian alliances.

Regional reset

India appears to be the biggest geopolitical loser as Islamabad and Dhaka get closer as a result of Hasina’s fall, with once-friendly relations experiencing significant decline in recent months.

Hasina maintained a complex relationship with India throughout her tenure. That included a rail connectivity agreement, which would enable India to transport goods to its far-off-the-beaten-path states using Bangladesh’s rail network.

Additionally, Bangladesh approved India’s request to send experts to assess the Teesta River Project, a key bilateral water-sharing initiative.

However, following her ouster amid violent protests, Hasina fled to New Delhi to seek refuge. Since then, Bangladesh has formally requested India’s assistance in extraditing Hasina from court proceedings.

India has acknowledged the request, but it has not provided any additional information, highlighting that Hasina is staying in India for safety reasons.

When protests began against Hasina, she was in China, which has deep and wide ties to Dhaka’s defense establishment, having supplied 72 % of Bangladesh’s military equipment.

The modernization of Bangladesh’s military under the” Forces Goal 2030” has the potential to boost Chinese arms imports further.

As she aimed to strengthen ties with China, Hasina made sure to avoid alienating India while attempting to maintain a strategic balance between the two geopolitical rivals.

However, unlike its relations with India, Bangladesh’s ties with China appear unchanged in the transition from Hasina to Yunus. Yunus was quickly welcomed as the interim leader in Beijing.

On the UNGA in New York in September, Chinese Foreign Minister Wang Yi made a call to Yunus. That same month, Beijing’s ambassador to Bangladesh Yao Wen also called on Yunus.

” No matter what changes have taken place in the domestic situation of Bangladesh, China’s commitment to develop China-Bangladesh relations remains unchanged”, Yao said.

In addition to their conversation, Yunus and Sharif discussed reviving the South Asian Association for Regional Cooperation ( SAARC ), a multilateral body that hasn’t held a summit since 2014.

The last summit took place in Nepal, while the planned 2016 summit in Pakistan was canceled after India, Bangladesh, Bhutan and Afghanistan chose not to participate under Delhi’s influence.

” I am a big fan of the idea of SAARC. I keep harping on the issue. Even if the summit is just for a photo session, Yunus said,” I want a summit of SAARC leaders because it will convey a powerful message.”

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Christmas in India: How Indian artists envisioned Christ’s birth

From the American Library library A 1630 painting of Virgin and child with influences of Islamic artFrom the American Library library

The birth of Jesus Christ, a pivotal bible event, has been the subject of numerous paintings by European painters who have frequently used the themes of splendor and ingenuity to depict the occasion on cloth.

These works subconsciously prevent those outside the West from having an impact on this bible event and are one of the most commonly available examples of Christian art.

However, Indian artists have tried to convey their vision of this event through the depiction of Jesus ‘ birth and other Christian themes over the years.

Some have done so deliberately, some unintentionally, but the end result is a body of work that breathes new life and meaning into the event of Christ’s birth, and Christianity itself.

Here are some drawings from the history of Indian art that examine Jesus ‘ delivery from a particular context.

Muhammad Jalaluddin Akbar, the Mughal prince, is credited with bringing Jesuit missionaries to his court and converting north India to Christianity.

The preachers brought with them German artworks and sacred scriptures that influenced court painters. Akbar and his descendants even commissioned numerous paintings with Christian styles, and some court paintings started incorporating elements of Muslim art into these works.

Neha Vermani, a scholar of South Asia, discusses a painting by Mughal judge artists that featured king Muhammad in the traditional Mary, Joseph, and baby Jesus in the birth scene.

” Roman rulers saw themselves as being’ just’ leaders, capable of maintaining unity and harmony in their kingdoms, they were’ general rulers’. According to Ms Vermani, allowing various sects to coexist was essential to how they saw themselves and wanted to become remembered.

The 18th Century artwork below features standard artistic elements of Mughal art, including very stylised figures, vivid colours, naturalism and ornamentation.

The British Museum's Trustees Mary in blue cloak and mauve dress, seated on a terrace holding baby Jesus, surrounded by attendants holding various bowls and dishes. A tree and a building with red and green curtains in background. Ornate colourful floral border.The British Museum’s Trustees
From the American Library library A 1630 painting of Virgin and childFrom the American Library library

Born in 1887 in what is now India’s West Bengal state, Jamini Roy is credited with bringing up parts of Bengali traditions skill and Kalighat paintings, a unique art form that was first developed close to a well-known church in Kolkata area.

According to Ashish Anand, CEO and managing director of DAG, art critic WG Archer once pointed out that Christ represented a Santhal number for Jamini Roy ( the Santhals are an American cultural party ).

Roy found his paintings on Christian themes to be at least as significant as those on Hindu myth, all of which were rendered in a folk type of modernism, to be unique and his own, he says.

Image Courtesy: DAG A painting of Mary with baby Jesus by Jamini RoyImage Courtesy: DAG
Image Courtesy: DAG Madonna with Jesus and the Magi by Jamini RoyImage Courtesy: DAG

Angelo de Fonseca, who was born in Goa in 1902, is credited with creating a unique Christian symbolism that incorporated both his Goan tastes and Eastern influences.

Mary is not depicted as a fair lady in a blue outfit in his paintings, but she resembles a woman with brown skin, sari, and classic Indian jewelry, which married Hindu women wear.

Biblical scenes take place in regional contexts and contain themes and elements appropriate for American audiences.

He attempted to refute the notion that the West is the birthplace of visual creativity and beauty through his art.

” Fonseca wanted to interpret Christianity within the Indian peninsula, which has largely been seen as a western religious history.” It was from this anxiety that his paintings painted Christianity anew”, RinaldD’Souza, chairman of the Xavier Centre of Historical Research, Goa, told the BBC.

Xavier Centre of Historical Research, Goa A watercolour on paper painting of Mary and baby JesusXavier Centre of Historical Research, Goa
Xavier Centre of Historical Research, Goa An oil on canvas painting of Mary with baby JesusXavier Centre of Historical Research, Goa

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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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Asia’s bond outlook upbeat for issuers in 2025: JP Morgan | FinanceAsia

A combination of lower interest rates, lower failures, and more securities is good for businesses and governments looking to enter Asia’s bond market in 2025.

There are hopes for Asia’s tie business next year to beat 2024 which is expected to hit$ 160-165 billion in 2024 for Asia, ex-Japan. There is a lot of willingness from banks to provide in the area as issuers prepare to enter the market, which is helping to keep extends small.

Speaking at an early December press presentation in Hong Kong, Jessica Chen, head of China DCM, creation Asia ex-Japan, JP Morgan:” General spreads are small and look extremely attractive to issuers. In 2024, China is expected to overtake Korea in terms of release ( from 2023 ) as the country’s largest business”.

Chen added:” We are expecting$ 170 billion of supply in 2025 in Asia, ex Japan with stockpile to pick up over 2024. We anticipate that this pattern will continue as some businesses mortgage next year.

Another positive factor is that regional relationship failures are declining, and that the US Fed will cut interest rates even further in the coming year. &nbsp, &nbsp,

Soo Chong Lim, managing director, head of Asia credit research, JP Morgan, said:” Bond default rates declined to around 4.4 % in 2024 compared with 17 % in 2023, and we expect them to decline further to 3 % in 2025″.

Despite falling interest rates in the US, anticipation are mixed regarding home bonds and the potential for some headwinds. &nbsp,

Lim added:” We expect three]US Fed ] rate cuts in 2025 and China’s GDP to grow 3.9 % next year. There will still be market volatility, particularly for the Chinese real estate sector, which is recovering slowly after a number of years of volatility. For instance, in Hong Kong, the company occupancy rate will continue to decline as a result of the supply that enters the market.

In 2024, India – probably Asia’s best performing market– had a very powerful yr for bond issuances, a trend that is set to remain in the new year.

Puja Shah, head of Southeast Asia ( SEA ), DCM and sustainable finance Asia ex-Japan, JP Morgan, said:” The high yield bond market in India was a particular bright spot in 2024 with some large names coming onto the market. It is at$ 4.7 billion YTD, and we expect that momentum to continue into 2025 with around$ 5 billion in supply”.

The issuing of green bonds is expected to increase as well. Singapore-based Shah added:” We expect stable demand, at between 25-30 % of issuances, for sustainable ( green and social ) bonds next year in the region, compared with 25 % in 2024″.

¬ Plaza Media Limited. All rights reserved.

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