Aug 12 (OPTA) - Scoreboard at close of play of 5th odi between Sri Lanka and South Africa on Sunday at Colombo, Sri Lanka Sri Lanka win by 178 runs Sri Lanka 1st innings Niroshan Dickwella c Quinton de Kock b Andile Phehlukwayo 43 Upul Tharanga c Quinton de Kock b Junior Dala 19 Kusal Perera c Heinrich Klaasen b Willem Mulder 8 Kusal Mendis c Quinton de Kock b Keshav Maharaj 38 Angelo Mathews Not Out
Reported by Reuters India 11 hours ago.
South Africa in Sri Lanka 2018 Scoreboard
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Cricket-Dananjaya's six wickets hand Sri Lanka 178-run victory
Sri Lanka's Akila Dananjaya spun a web around South Africa's batsmen with a six-wicket haul to help the hosts to a commanding 178-run victory in the fifth and final one-day international on Sunday.
Reported by Reuters India 11 hours ago.
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Sri Lanka vs. South Africa 5th ODI Result
COLOMBO, Sri Lanka (AP) — Sri Lanka beat South Africa by 178 runs in the fifth and final one-day international at R. Premadasa Stadium, Colombo on Sunday.Scores: Sri Lanka 299-8 in 50 overs (Angelo Mathews 97 not out, Niroshan Dickwella...
Reported by New Zealand Herald 11 hours ago.
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Fin24.com | FEDUSA hopeful as Gautrain talks go into Sunday afternoon
The Federation of Unions of South Africa said the United National Transport Union revised its demands downward ahead of talks with Gautrain management company on Sunday.
Reported by News24 11 hours ago.
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Dananjaya takes 6-29 as Sri Lanka thrashes South Africa
COLOMBO, Sri Lanka (AP) — Spinner Akila Dananjaya took career-best bowling figures to help Sri Lanka thrash South Africa by 178 runs in the fifth and final cricket one-day international on Sunday.However, South Africa won the five-match...
Reported by New Zealand Herald 11 hours ago.
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Two of the Queen's relatives KILLED in horror car crash on South African family holiday
Two of the Queen's relatives have been killed in a car crash [ANDY BUCHANAN/AFP/Getty Images] Two relatives of The Queen have been killed in a horror car crash while on holiday. Louise Sword, 53, and her 13-year-old daughter Tabitha were killed on their way back from a safari. The fatal crash took place near Zinkwazi in KwaZula-Natal province, South Africa, after a Mercedes reportedly hit their car. The mother and daughter were driving back from a safari [Max ...
Reported by OK! 9 hours ago.
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Sri Lanka vs South Africa 5th ODI: Akila Dananjaya stars with six wickets as SL beat SA in series ender
South Africa won the series 3-2.
Reported by DNA 8 hours ago.
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Sport24.co.za | Rain hampers proceedings on day 3 of unofficial Test
Rain had the final say in what was meant to be a crucial third day in the second unofficial Test between India ‘A’ and South Africa ‘A’ in Bengaluru.
Reported by News24 8 hours ago.
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Hinduja Global to hire 1,000 at Hyderabad, Jacksonville centres
Headcount addition for business process management (BPM) services provider Hinduja Global Solutions (HGS) Ltd will remain flat in this financial year owing to uncertainty in the telecom sector. The firm may hire around 1,000 employees over the next fiscal.
According to CEO Partha DeSarkar, the domestic CRM (customer relationship management) business, which accounts for 14% of Hinduja Global's overall revenues, is struggling because of a drop in volumes from telecom clients. Around 70% of the company's domestic CRM business comes from the telecom sector.
Since Reliance Jio Infocomm Ltd's entry, the telecom industry is undergoing a data revolution. The sector has seen consolidation and the profitability has been affected due to lower margins and rising competition, resulting in high attrition.
DeSarkar said he does not see a large headcount addition in this financial year, and "on a net basis, the headcount will remain flat this year." The company has to downsize its business due to drop in volume, he added.
The Bengaluru-based company, part of the multi-billion dollar conglomerate Hinduja Group, has a high attrition rate of 60%, according to DeSarkar.
"That's a large number and we are not happy with that, but it is driven by what is happening in the telecom space," he said. As on June 30, Hinduja Global had 44,854 employees in seven countries.
However, over the next fiscal, Hinduja Global will see a capacity addition of around 1,000 employees at its two centres in Hyderabad (Telangana) and Jacksonville in Florida, DeSarkar said. The upcoming Jacksonville centre will cater to consumer electronics and healthcare clients.
The company's net profit fell 9% to Rs 40.28 crore during the quarter ended June 30 whereas revenue from operations grew 18.7% to Rs 1,100.83 crore. Total expenses increased 24.3% to Rs 1,027.68 crore due to higher costs in terms of its recent acquisition of AxisPoint Health and an increase in minimum wages in Karnataka.
In March, Hinduja Global Solutions acquired loss-making population health management company AxisPoint Health for $14 million in an all-cash deal.
DeSarkar said that AxisPoint was losing clients as its capacity utilisation has fallen "dramatically".
"We knew this is going to be a loss-making acquisition for a first few months," he added.
The company had also acquired a 57% stake in Element Solutions LLC, a digital consulting services firm, for $5 million. According to the CEO, Hinduja Global may look to increase its stake further depending on how the acquisition pans out.
"So far, it is doing well for us," he said.
While the domestic business is under pressure, the company will focus on healthcare and consumer businesses. It is also exploring geographies such as South America and South Africa for expansion.
-*TALENT WOES*-
· *44,854 *
Employed by HGS across seven countries as on June 30
· *60% *
The rate of attrition
Article Type:
Report
Sections:
Business
Authors:
Soumonty Kanungo
Agencies:
DNA
Cities:
Mumbai
Tags:
India Business Report
Hinduja Global Solutions
Hinduja Group
Florida
Hyderabad
Karnataka
South Africa
South America
Telangana
Jacksonville
Business Process Management
Telecom Sector
Partha DeSarkar
Customer Relationship Management
Reliance Jio Infocomm
Mon, 13 Aug 2018-05:55am
Date updated:
Monday, 13 August 2018 - 5:55am
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From Print Edition:
Highlights: Reported by DNA 2 hours ago.
According to CEO Partha DeSarkar, the domestic CRM (customer relationship management) business, which accounts for 14% of Hinduja Global's overall revenues, is struggling because of a drop in volumes from telecom clients. Around 70% of the company's domestic CRM business comes from the telecom sector.
Since Reliance Jio Infocomm Ltd's entry, the telecom industry is undergoing a data revolution. The sector has seen consolidation and the profitability has been affected due to lower margins and rising competition, resulting in high attrition.
DeSarkar said he does not see a large headcount addition in this financial year, and "on a net basis, the headcount will remain flat this year." The company has to downsize its business due to drop in volume, he added.
The Bengaluru-based company, part of the multi-billion dollar conglomerate Hinduja Group, has a high attrition rate of 60%, according to DeSarkar.
"That's a large number and we are not happy with that, but it is driven by what is happening in the telecom space," he said. As on June 30, Hinduja Global had 44,854 employees in seven countries.
However, over the next fiscal, Hinduja Global will see a capacity addition of around 1,000 employees at its two centres in Hyderabad (Telangana) and Jacksonville in Florida, DeSarkar said. The upcoming Jacksonville centre will cater to consumer electronics and healthcare clients.
The company's net profit fell 9% to Rs 40.28 crore during the quarter ended June 30 whereas revenue from operations grew 18.7% to Rs 1,100.83 crore. Total expenses increased 24.3% to Rs 1,027.68 crore due to higher costs in terms of its recent acquisition of AxisPoint Health and an increase in minimum wages in Karnataka.
In March, Hinduja Global Solutions acquired loss-making population health management company AxisPoint Health for $14 million in an all-cash deal.
DeSarkar said that AxisPoint was losing clients as its capacity utilisation has fallen "dramatically".
"We knew this is going to be a loss-making acquisition for a first few months," he added.
The company had also acquired a 57% stake in Element Solutions LLC, a digital consulting services firm, for $5 million. According to the CEO, Hinduja Global may look to increase its stake further depending on how the acquisition pans out.
"So far, it is doing well for us," he said.
While the domestic business is under pressure, the company will focus on healthcare and consumer businesses. It is also exploring geographies such as South America and South Africa for expansion.
-*TALENT WOES*-
· *44,854 *
Employed by HGS across seven countries as on June 30
· *60% *
The rate of attrition
Article Type:
Report
Sections:
Business
Authors:
Soumonty Kanungo
Agencies:
DNA
Cities:
Mumbai
Tags:
India Business Report
Hinduja Global Solutions
Hinduja Group
Florida
Hyderabad
Karnataka
South Africa
South America
Telangana
Jacksonville
Business Process Management
Telecom Sector
Partha DeSarkar
Customer Relationship Management
Reliance Jio Infocomm
Mon, 13 Aug 2018-05:55am
Date updated:
Monday, 13 August 2018 - 5:55am
Article Images:
Short URL:
dnai.in/fAuG
Embargo:
Syndicate:
Hide lead image:
Page views:
1
From Print Edition:
Highlights: Reported by DNA 2 hours ago.
↧
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Black Swan Friday (that we should have seen coming) as it happened - Turkey risk and the tide of US dollar funding
· *The markets open today risk-off, of course, following last Friday's drams over the TRY. *
· *However, before looking into the ins-and-outs of the TRY, there is something far more concerning that markets are bringing back to the fore.*
While one might assume that the risk here lies with the contagion within the European banks over the Lira's massive 75% decline YTD, (where 27% of that was all done in just last week's business), the real matter at hand is what the BIS had warned of back in 2015 - and that is the global shortfall in the greenback. Those nation's currencies that have heavy debt exposure to the dollar got whacked during Friday's mayhem and it should not be ignored.
*The ZAR, MXN/, BRL and RUB all took a hammering*
While Washington's antagonistic proposals over trade and punitive sanctions were a trigger to Friday's dramas, they were not the root cause. The price for the world’s banks for accessing US dollar liquidity is on the rise and this matters, a lot, because the smooth running of the world's financial ecosystem depends on the world’s bank's liquidity of a pool of affordable greenbacks to sustain their operations and in order to service their debt.
*RISK OFF! *
When we then mix in what the ECB is so alarmed about, and that is the exposure that some nations have to the Lira that has dropped like a stone on rocket fuel this year, then you get a very ugly looking outcome which investors are bound to be alarmed about as this week will unravel as traders return to desks looking to protect wealth, opening the case for the downside in the euro, (Turkish lira weakness drifts toward the eurozone), EUR+USD/CHF, (due to safe haven status in the CHF), USD/JPY & EUR/JPY and indeed high-betas such as the antipodeans, (+ RBA's dovish SOMP on concerns about U.S.-China trade risks that are increasing and dovish RBNZ).
*So what happened on Friday? *
As a result, Friday's closing session in European trade and the US was one of those type's of Black Swan events, but one that we actually should have known was coming - it was only a matter of time that the banking sector crisis risks reared their ugly heads again - (shares of Deutsche Bank AG DB tumbled over 5% after a downgrade to underweight by analysts at Morgan Stanley).
Nevertheless, the unexpected escalation of events that took place in the Europen trade resulted in the EuroStoxx-50 losing -1.9% - It sent the dollar on a strong rally through the 96 handle and the euro to trade below 1.1480, breaking the neckline support before then going onto trade below 1.14 the figure in NY for the first time since mid-2017. This dramatic collapse in TRY sent USD/TRY to an intraday high of 6.87 before settling at 6.39, up 15.2% on the day. This all began when Trump doubled tariffs on US imports of Turkish steel and aluminum, escalating the feud by imposing higher metals tariffs in a tactic that would hopefully force the NATO member nation to release the US citizen and Pastor Andrew Brunson after courts had rejected appeals to release him - (The espionage charges he’s facing mean he could spend the rest of his life in prison).
*Friday's fall out as it happened*
"A massive pile of corporate debt denominated in foreign currencies but a rapidly sliding currency – and inflation that’s threatening to go exponential – is a toxic combination", analysts at ANZ explained:
"The ECB has sounded the warning bell with banks in Spain (EUR83.3bn), France (EUR38.4bn) and Italy (17bn) heavily exposed to the country...The euro fell around 1%. Midway through Erdogan’s speech Trump in a tweet announced doubled tariffs on Turkish steel and aluminium “as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” This sent the lira down a further 5%. Erdogan upped the ante further in weekend speeches, all but writing off the US strategic partnership, saying interest rate increases won’t happen “as long as I’m alive”, and saying those who urge an international bailout are seeking to steal Turkey’s political independence – the opposite on all three fronts to what crisis experts would recommend. Argentina and South Africa are copping collateral damage."
*EUR/USD below the neckline*
The ECB's concerns over bank exposures to Turkey and Italian budget woes sent EUR/USD to fresh lows and even 1.1448, the 50% Fibo retracement level since the end-2016 lows, was broken. A low of 1.1387 was traded after the release of US core CPI rose to 2.4%, the fastest YoY rate since 2008 while US headline inflation is within a whisker of 3%, (coming in at 2.9495% YoY on the headline measure).
Now, when we are considering US wages that are grinding higher and indeed Trump's trade war on China that will only go onto contribute higher retail prices due to the US import tariffs that will eventually feed through to retail outlets - then throw the US Q2 growth of 4.2% into the mix, then the Fed's path of rate hikes brings us back to the US dollar liquidity crisis - which is perhaps an old/new paradigm for markets now which should keep the greenback underpinned for the foreseeable future. Reported by FXstreet.com 5 hours ago.
· *However, before looking into the ins-and-outs of the TRY, there is something far more concerning that markets are bringing back to the fore.*
While one might assume that the risk here lies with the contagion within the European banks over the Lira's massive 75% decline YTD, (where 27% of that was all done in just last week's business), the real matter at hand is what the BIS had warned of back in 2015 - and that is the global shortfall in the greenback. Those nation's currencies that have heavy debt exposure to the dollar got whacked during Friday's mayhem and it should not be ignored.
*The ZAR, MXN/, BRL and RUB all took a hammering*
While Washington's antagonistic proposals over trade and punitive sanctions were a trigger to Friday's dramas, they were not the root cause. The price for the world’s banks for accessing US dollar liquidity is on the rise and this matters, a lot, because the smooth running of the world's financial ecosystem depends on the world’s bank's liquidity of a pool of affordable greenbacks to sustain their operations and in order to service their debt.
*RISK OFF! *
When we then mix in what the ECB is so alarmed about, and that is the exposure that some nations have to the Lira that has dropped like a stone on rocket fuel this year, then you get a very ugly looking outcome which investors are bound to be alarmed about as this week will unravel as traders return to desks looking to protect wealth, opening the case for the downside in the euro, (Turkish lira weakness drifts toward the eurozone), EUR+USD/CHF, (due to safe haven status in the CHF), USD/JPY & EUR/JPY and indeed high-betas such as the antipodeans, (+ RBA's dovish SOMP on concerns about U.S.-China trade risks that are increasing and dovish RBNZ).
*So what happened on Friday? *
As a result, Friday's closing session in European trade and the US was one of those type's of Black Swan events, but one that we actually should have known was coming - it was only a matter of time that the banking sector crisis risks reared their ugly heads again - (shares of Deutsche Bank AG DB tumbled over 5% after a downgrade to underweight by analysts at Morgan Stanley).
Nevertheless, the unexpected escalation of events that took place in the Europen trade resulted in the EuroStoxx-50 losing -1.9% - It sent the dollar on a strong rally through the 96 handle and the euro to trade below 1.1480, breaking the neckline support before then going onto trade below 1.14 the figure in NY for the first time since mid-2017. This dramatic collapse in TRY sent USD/TRY to an intraday high of 6.87 before settling at 6.39, up 15.2% on the day. This all began when Trump doubled tariffs on US imports of Turkish steel and aluminum, escalating the feud by imposing higher metals tariffs in a tactic that would hopefully force the NATO member nation to release the US citizen and Pastor Andrew Brunson after courts had rejected appeals to release him - (The espionage charges he’s facing mean he could spend the rest of his life in prison).
*Friday's fall out as it happened*
"A massive pile of corporate debt denominated in foreign currencies but a rapidly sliding currency – and inflation that’s threatening to go exponential – is a toxic combination", analysts at ANZ explained:
"The ECB has sounded the warning bell with banks in Spain (EUR83.3bn), France (EUR38.4bn) and Italy (17bn) heavily exposed to the country...The euro fell around 1%. Midway through Erdogan’s speech Trump in a tweet announced doubled tariffs on Turkish steel and aluminium “as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” This sent the lira down a further 5%. Erdogan upped the ante further in weekend speeches, all but writing off the US strategic partnership, saying interest rate increases won’t happen “as long as I’m alive”, and saying those who urge an international bailout are seeking to steal Turkey’s political independence – the opposite on all three fronts to what crisis experts would recommend. Argentina and South Africa are copping collateral damage."
*EUR/USD below the neckline*
The ECB's concerns over bank exposures to Turkey and Italian budget woes sent EUR/USD to fresh lows and even 1.1448, the 50% Fibo retracement level since the end-2016 lows, was broken. A low of 1.1387 was traded after the release of US core CPI rose to 2.4%, the fastest YoY rate since 2008 while US headline inflation is within a whisker of 3%, (coming in at 2.9495% YoY on the headline measure).
Now, when we are considering US wages that are grinding higher and indeed Trump's trade war on China that will only go onto contribute higher retail prices due to the US import tariffs that will eventually feed through to retail outlets - then throw the US Q2 growth of 4.2% into the mix, then the Fed's path of rate hikes brings us back to the US dollar liquidity crisis - which is perhaps an old/new paradigm for markets now which should keep the greenback underpinned for the foreseeable future. Reported by FXstreet.com 5 hours ago.
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South Africa:Hout Bay Protest Turns Violent After Poaching Death
[GroundUp] Believing that members of an anti-poaching patrol had killed a fisherman from their community, protestors shut down Hout Bay harbour on Sunday 12 August, setting alight two government buildings and the home of a local fisheries official.
Reported by allAfrica.com 3 hours ago.
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KnowBe4 Opens New Office in Singapore Expanding Presence Into Asia-Pacific Region
Ronald Lee appointed KnowBe4 managing director of APAC to support a region that is highly vulnerable to cyberattacksTAMPA BAY, Florida, Aug. 13, 2018 /PRNewswire/ -- KnowBe4, the world's largest security awareness training and simulated phishing platform, today announced it has opened a new office in Singapore, expanding its operations into the Asia-Pacific region.
Asia-Pacific is the world's top target for cyber criminals, who take advantage of outdated systems, according to Trend Micro. In fact, the region accounted for nearly 36% of the world's cyberattacks in the first six months of 2017.
"Asia-Pacific is a very important market for security awareness training because studies have shown that the region is more vulnerable to cyberattacks, said Stu Sjouwerman, CEO, KnowBe4. "By opening an office in Singapore, we're expanding our global presence. My vision is to make KnowBe4 a global brand, and establishing this new office is part of our strategic plan to make that happen."
Ronald Lee has over 23 years of experience with regional expansions, channel sales and development, channel marketing and strategic alliances. He also has an extensive background in IT and security.
Sjouwerman continued, "We're thrilled to have Ronald join our global KnowBe4 team to head up a new region for us. He will certainly be an asset to the organization."
Social engineering is an effective tactic used by the bad guys to gain access to sensitive information. Nearly all of today's cyberattacks rely on social engineering and email phishing is the bad guys' preferred method. According to the 2018 Verizon Data Breach Report, phishing and pretexting represent 98 percent of social incidents and 93 percent of breaches. This type of attack can devastate organizations both financially and operationally. Despite more investment in technical controls, organizations are still missing the mark when it comes to cybersecurity because they aren't considering the human element. Given the increased threat of phishing attacks and ransomware, security awareness training is more important than ever, as people are the last line of defense.
In its phishing benchmarking study, KnowBe4 found a radical drop of careless clicking from 27 percent Phish-prone™ percentage to just 13 percent 90 days after initial training and simulated phishing, and a steeper drop to two percent after 12 months of combined phishing and computer-based training.
*About KnowBe4
*KnowBe4, the provider of the world's largest integrated security awareness training and simulated phishing platform, is used by more than 20,000 organizations worldwide. Founded by data and IT security expert Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness of ransomware, CEO fraud and other social engineering tactics through a new-school approach to security awareness training. Kevin Mitnick, internationally recognized computer security expert and KnowBe4's Chief Hacking Officer, helped design KnowBe4's training based on his well-documented social engineering tactics. Thousands of organizations trust KnowBe4 to mobilize their end-users as the last line of corporate IT defense.
Number 231 on the 2017 Inc. 500 list, #70 on 2017 Deloitte's Technology Fast 500 and #2 in Cybersecurity Ventures Cybersecurity 500. KnowBe4 is headquartered in Tampa Bay, Florida with European offices in England, the Netherlands, Germany and offices in South Africa and Singapore.
Contact: Amanda Tarantino, (727) 748-4221, amandat@knowbe4.com
Logo - https://mma.prnewswire.com/media/588691/KB4_Logo.jpg
Related Links :
www.knowbe4.com Reported by PR Newswire Asia 3 hours ago.
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Perseid meteor shower lights up the night sky with shooting star spectacular
The US, Europe, and Canada will be able to see the Perseids at their best, with similarly stellar views in Mexico and Central America, Asia, much of Africa, and parts of South America.
Reported by MailOnline 39 minutes ago.
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Can The ‘Eurasian Penta’ Be Imagined? – OpEd
The Eurasian Penta has become the need of the hour in the backdrop of the Indo-Pacific Quad. The main argument is that this Quad would further create rift and put India and China into confrontational mode.
Until the realization of the current century as the 21st century, the peace, prosperity, and progress is direly needed in general for Asia and India, China, Pakistan and Afghanistan in particular. India and China’s realization of full potential of economic and strategic cooperation and interests lie in the imagined “Eurasian Penta.” Russia has been sharing good terms with all the member countries of the imagined regional organization, thus, may take lead in this direction and bring all members under one umbrella of the imagined “Eurasian Penta”.
The world of the 21st century has become very progressive and liberalist, wherein, the sense of economic engagements and dynamism have been emerging as the core values of the global politics and international relations. In the same direction, state/s as players have been making endeavors to attain the peace and prosperity through the dynamic and effective role of the regional and global organizations. In this background, the European Union (EU), Association of Southeast Asian Countries (ASEAN), African Union (AU) etc. have been proved very successful regional organizations.
The Eurasia particularly covering India, China, Russia, Pakistan, and Afghanistan are strategically very important countries but given the several bilateral and geopolitical irritants, the regional integration has not been concretized as anticipated. Rather, India has joined the Indo-Pacific Quad along with the US, Japan, and Australia. The same has not given positive resonance, rather it has invited the Chinese wrath. Thus, it is anticipated that it would further the rift between India and China. There are certain reasons to believe that the relations between these two countries would decide the new world order. In the current tense geopolitical scenario, the author would like to propose the new regional structure in the form of “Eurasian Penta” comprising of India, China, Russia, Pakistan, and Afghanistan
The imagined regional organization the “Eurasian Penta” may be guided by the objectives like multifaceted cooperation in identified areas like economic, security, energy, and connectivity, and people to people contacts by following the principles like protection and promotion of unity, integrity, and sovereignty of the member countries. The regional organization would become successful, if it is not guided by the whimsical persecutions, rather by the realistic goals keeping the larger regional interests in perspectives. Perhaps, it seems that the proposed regional organization would facilitate to make the peaceful, prosperous and stable the region. With these strengths, it can turn the Eurasian region as the pivot of the global politics and international relations. Partly, it can immunize the region from the external intervention. It would have the potential to change the balance of power and the world order in the region’s favor.
*The Indo-Pacific Quad: Boon or Bane?*
Currently, the concept of The Indo-Pacific Quad has been figuring very prominently in the global political narratives. In the backdrop of the growing profile of China given it strategic posturing, inflating defence budget for modernization, the militarization of the South China Sea and violation of the international norms, the serious thought has been given to the revival of Quad during the recent ASEAN Summit. The expanding strategic and economic influences of China have given the exasperating setbacks to the regional and extra-regional powers and subsequently, resulted in the concretization of the Quad.
It was conceptualized by the Prime Minister Shinzo Abe of Japan (2007). The Quad is comprised of Japan, US, Australian, and India. However, it was aborted in the embryonic state given the withdrawal of PM Kevin Rudd as he has been anticipating the Chinese wrath. Moreover, the heightening geopolitical tensions between the United States and China in the Asia-Pacific has been taken a serious threat to the regional peace and stability.
ASEAN is a major region organization of the Indo-Pacific region. The creation of Indo-Pacific Quad is being taken by the ASEAN as merely and eerily another extension of great-power rivalries in the Indo-Pacific region. It would not only likely to impacts seriously the regional security and stability of the region, instead inevitably at the expense of the ASEAN interests. The objectives of the Quad are to create a rule-based world order wherein, the freedom of navigation and overflight and respect for international law should prevail. The non-proliferation and terrorism issues should be taken care. Additionally, the enhancing connectivity and protection of maritime security would be the main elements of regional cooperation under the umbrella of Quad.
*Implications of the Quad*
The Indian geopolitical analysts like Rajeev Sharma (2017) and Bawa Singh (2018) are of the view that India is not going to be benefitted being part of the Quad. The Quad would not only to damage the Indo-China relations, rather have serious implications for the entire region as well.
The ASEAN countries and Australia had already expressed apprehensions in this regard. It is viewed and argued that the Quad would put further India and China into confrontational mode. Sharma (2017), has argued in his commentaries that it would have far worse strategic implications for India as it shares the long border with China. He was of the strong opinion that it would make malevolent neighbor more pesky and risky than the benevolent friends far abroad. On the other hand, it would further strengthen and concretize the Sino-Russia strategic proximity. The Quad one way or the other could also become a fault-line between India and Iran relations. Moreover, India could be used as guinea pig by the US.
The Quad has not been going well with the ASEAN. The existing multilateral mechanisms like the East Asia Summit (EAS), the ASEAN Regional Forum (ARF), the ASEAN Defence Ministers Meeting Plus (ADMM Plus), and the Indian Ocean Rim Association (IORA) have the same potential as set forth for the Quad in the Indo-Pacific region. There are three sub-regional organizations like the ARF, the ADMM and ADMM Plus have been working in the direction of taking care of maritime cooperation and ensuring the security, peace, and stability of the region. Thus, in this backdrop, the Quad is being taken as a strategy of power play in the region.
*The Eurasian Penta*
Although, there is nothing new in the new name in this concept of the “Eurasian Penta”, comprising of India, China, Russia, Pakistan, and Afghanistan. However, in the embryonic stage, it seems that it is a ridiculous and farcical idea given the bilateral and regional irritants. But if the member countries of the proposed regional organization can learn from history, there are certain reasons to believe that it is possible to be materialized.
The colonial powers had experienced arch enmities, even then had come forward to form the European Union, the highest stage of regional organization. The European Union has been working successfully dumping the dollar and experiencing the highest intra-trade in the range of 60-70% through the local regional currency i.e., Euro. Thus, learning from such experiences, the Eurasian countries can come forward to form the “Eurasian Penta ”.
It is crystal clear, as what kind of the internal dynamics have been existing in the Eurasian Penta. All the major countries of the proposed regional organization’s bilateral/regional relations have been moving in diametrically opposite directions, for stance, India, China; India, Pakistan; Pakistan, Afghanistan; China, Russia’s tilt towards Pakistan and Afghanistan. How this kind of relations can be improved and would facilitate the materialization of the organization? Despite some geopolitical differences between China and Russia, these countries relations with Pakistan and Afghanistan, more or less are cordial and cozy. Along with the major challenges of bilateral irritants, Pakistan and Afghanistan factors would be regional irritants between India and China.
Recently, some positive steps have been taken in improving the regional cooperation. It was agreed in the Wuhan Informal Summit, wherein, under the leadership of Modi-Xi, some positive and welcome decisions have been taken. It is somewhat an attempt to put partly the bilateral irritants in cold storage. Now, China and India are seeing the potential for investment in Afghanistan. Both countries have started sharing common concerns given the expanding radicalism and terrorism not only in Afghanistan, rather in the entire region as well. It is an indication that despite Pakistan’s reservations, the proposed regional cooperation in Afghanistan would be a positive step. Russia and China have also shared the common concerns in Afghanistan, where these countries can work together. The member countries of the proposed Penta have been sharing common platforms in some regional organizations like RIC, SCO, SAARC etc.
The only problem of the Eurasian Penta is the Pakistan factor. Currently, the Pakistan economy is passing through the critical phase. If it is integrated per se in the Eurasian Penta, it can be bailed out per se from the economic quagmire by extending economic cooperation, trade, connectivity, etc. The extended economic cooperation would help in the improvement of the economy. Moreover, the soft power in term of the pressure tactics could become one way for putting the member countries in order. Russia has been sharing good terms with all countries and it should take the lead in this direction.
The Chinese OBOR is being supported by countries like Russia, Afghanistan, and Pakistan, except India on the sovereignty ground. India and Russia’s INSTC is a very ambitious project and could become a game changer for the Eurasian Penta. Chabahar and Gwadar ports could prove wonderful bridges for regional integration. CASA 1000 and TAPI could be materialized under the imagined Eurasian Penta.
The Eurasian Penta has the potential to become one of the major regional organizations in terms of geography and demography. The population used to always remain a dividend. About half of the population is in the region. The region is very rich in mineral resources. The region would have four nuclear powers in the organization. By coming together, the problem of connectivity can be get rid of. The free trade can do wonder for the region. The gas and oil pipeline can reach to India, Pakistan, Afghanistan etc.
Some insights may be taken from the European Union (EU). Can anybody deny the turbulent phase of the 19th century, the European had undergone the fever of nationalism, revolutions, and numerous wars between/among the colonial and powerful nations? The European history has been remained tainted with numerous wars and arch enmities. The wars like the Greek War of Independence (1821-1832), Franco-Prussian War (1870-1871), the German and Italy Unification Wars, Serbo-Bulgarian War (1885); Greco–Turkish War (1897); and the revolutions (1820s and 1840s), and of course the World Wars. Most of these wars were in colonial/imperial conflicts in nature. These had been fought to capture and expand the colonies in Africa, Asia, and the Middle East. Countries like India, China, Afghanistan were also colonies at some point of time. Even in the present context, the bilateral or regional conflicts are/were the legacies of the divide rule policies of the colonial masters.
The Penta can learn from the European Union, how to increase the intra-trade through the regional currency. The Penta may have its Eurasian Union, Eurasian Bank and Eurasian Currency etc., which can be done in phased manner. For the moment, keep the strategic issues in cold storage, and improve the bilateral/regional relations. It is suggested that the Penta needs to give importance to the bilateral and region economic integration and cooperation, thus, Eurasia would emerge as a strong and strategic region!! Being acceptable and sharing good terms with all the proposed member countries, Russia may take lead in this direction. It is suggested that China may moderate its aggressive and confrontational posture, Pakistan may control the non-state actors and India may adjust its relations with Pakistan and China, by this, the Eurasian Penta could emerge as a strong and acceptable regional organization.
**Dr. Bawa Singh* is teaching at the Centre for South and Central Asian Studies, School of Global Relations, Central University of Punjab, Bathinda, India. Reported by Eurasia Review 32 minutes ago.
Until the realization of the current century as the 21st century, the peace, prosperity, and progress is direly needed in general for Asia and India, China, Pakistan and Afghanistan in particular. India and China’s realization of full potential of economic and strategic cooperation and interests lie in the imagined “Eurasian Penta.” Russia has been sharing good terms with all the member countries of the imagined regional organization, thus, may take lead in this direction and bring all members under one umbrella of the imagined “Eurasian Penta”.
The world of the 21st century has become very progressive and liberalist, wherein, the sense of economic engagements and dynamism have been emerging as the core values of the global politics and international relations. In the same direction, state/s as players have been making endeavors to attain the peace and prosperity through the dynamic and effective role of the regional and global organizations. In this background, the European Union (EU), Association of Southeast Asian Countries (ASEAN), African Union (AU) etc. have been proved very successful regional organizations.
The Eurasia particularly covering India, China, Russia, Pakistan, and Afghanistan are strategically very important countries but given the several bilateral and geopolitical irritants, the regional integration has not been concretized as anticipated. Rather, India has joined the Indo-Pacific Quad along with the US, Japan, and Australia. The same has not given positive resonance, rather it has invited the Chinese wrath. Thus, it is anticipated that it would further the rift between India and China. There are certain reasons to believe that the relations between these two countries would decide the new world order. In the current tense geopolitical scenario, the author would like to propose the new regional structure in the form of “Eurasian Penta” comprising of India, China, Russia, Pakistan, and Afghanistan
The imagined regional organization the “Eurasian Penta” may be guided by the objectives like multifaceted cooperation in identified areas like economic, security, energy, and connectivity, and people to people contacts by following the principles like protection and promotion of unity, integrity, and sovereignty of the member countries. The regional organization would become successful, if it is not guided by the whimsical persecutions, rather by the realistic goals keeping the larger regional interests in perspectives. Perhaps, it seems that the proposed regional organization would facilitate to make the peaceful, prosperous and stable the region. With these strengths, it can turn the Eurasian region as the pivot of the global politics and international relations. Partly, it can immunize the region from the external intervention. It would have the potential to change the balance of power and the world order in the region’s favor.
*The Indo-Pacific Quad: Boon or Bane?*
Currently, the concept of The Indo-Pacific Quad has been figuring very prominently in the global political narratives. In the backdrop of the growing profile of China given it strategic posturing, inflating defence budget for modernization, the militarization of the South China Sea and violation of the international norms, the serious thought has been given to the revival of Quad during the recent ASEAN Summit. The expanding strategic and economic influences of China have given the exasperating setbacks to the regional and extra-regional powers and subsequently, resulted in the concretization of the Quad.
It was conceptualized by the Prime Minister Shinzo Abe of Japan (2007). The Quad is comprised of Japan, US, Australian, and India. However, it was aborted in the embryonic state given the withdrawal of PM Kevin Rudd as he has been anticipating the Chinese wrath. Moreover, the heightening geopolitical tensions between the United States and China in the Asia-Pacific has been taken a serious threat to the regional peace and stability.
ASEAN is a major region organization of the Indo-Pacific region. The creation of Indo-Pacific Quad is being taken by the ASEAN as merely and eerily another extension of great-power rivalries in the Indo-Pacific region. It would not only likely to impacts seriously the regional security and stability of the region, instead inevitably at the expense of the ASEAN interests. The objectives of the Quad are to create a rule-based world order wherein, the freedom of navigation and overflight and respect for international law should prevail. The non-proliferation and terrorism issues should be taken care. Additionally, the enhancing connectivity and protection of maritime security would be the main elements of regional cooperation under the umbrella of Quad.
*Implications of the Quad*
The Indian geopolitical analysts like Rajeev Sharma (2017) and Bawa Singh (2018) are of the view that India is not going to be benefitted being part of the Quad. The Quad would not only to damage the Indo-China relations, rather have serious implications for the entire region as well.
The ASEAN countries and Australia had already expressed apprehensions in this regard. It is viewed and argued that the Quad would put further India and China into confrontational mode. Sharma (2017), has argued in his commentaries that it would have far worse strategic implications for India as it shares the long border with China. He was of the strong opinion that it would make malevolent neighbor more pesky and risky than the benevolent friends far abroad. On the other hand, it would further strengthen and concretize the Sino-Russia strategic proximity. The Quad one way or the other could also become a fault-line between India and Iran relations. Moreover, India could be used as guinea pig by the US.
The Quad has not been going well with the ASEAN. The existing multilateral mechanisms like the East Asia Summit (EAS), the ASEAN Regional Forum (ARF), the ASEAN Defence Ministers Meeting Plus (ADMM Plus), and the Indian Ocean Rim Association (IORA) have the same potential as set forth for the Quad in the Indo-Pacific region. There are three sub-regional organizations like the ARF, the ADMM and ADMM Plus have been working in the direction of taking care of maritime cooperation and ensuring the security, peace, and stability of the region. Thus, in this backdrop, the Quad is being taken as a strategy of power play in the region.
*The Eurasian Penta*
Although, there is nothing new in the new name in this concept of the “Eurasian Penta”, comprising of India, China, Russia, Pakistan, and Afghanistan. However, in the embryonic stage, it seems that it is a ridiculous and farcical idea given the bilateral and regional irritants. But if the member countries of the proposed regional organization can learn from history, there are certain reasons to believe that it is possible to be materialized.
The colonial powers had experienced arch enmities, even then had come forward to form the European Union, the highest stage of regional organization. The European Union has been working successfully dumping the dollar and experiencing the highest intra-trade in the range of 60-70% through the local regional currency i.e., Euro. Thus, learning from such experiences, the Eurasian countries can come forward to form the “Eurasian Penta ”.
It is crystal clear, as what kind of the internal dynamics have been existing in the Eurasian Penta. All the major countries of the proposed regional organization’s bilateral/regional relations have been moving in diametrically opposite directions, for stance, India, China; India, Pakistan; Pakistan, Afghanistan; China, Russia’s tilt towards Pakistan and Afghanistan. How this kind of relations can be improved and would facilitate the materialization of the organization? Despite some geopolitical differences between China and Russia, these countries relations with Pakistan and Afghanistan, more or less are cordial and cozy. Along with the major challenges of bilateral irritants, Pakistan and Afghanistan factors would be regional irritants between India and China.
Recently, some positive steps have been taken in improving the regional cooperation. It was agreed in the Wuhan Informal Summit, wherein, under the leadership of Modi-Xi, some positive and welcome decisions have been taken. It is somewhat an attempt to put partly the bilateral irritants in cold storage. Now, China and India are seeing the potential for investment in Afghanistan. Both countries have started sharing common concerns given the expanding radicalism and terrorism not only in Afghanistan, rather in the entire region as well. It is an indication that despite Pakistan’s reservations, the proposed regional cooperation in Afghanistan would be a positive step. Russia and China have also shared the common concerns in Afghanistan, where these countries can work together. The member countries of the proposed Penta have been sharing common platforms in some regional organizations like RIC, SCO, SAARC etc.
The only problem of the Eurasian Penta is the Pakistan factor. Currently, the Pakistan economy is passing through the critical phase. If it is integrated per se in the Eurasian Penta, it can be bailed out per se from the economic quagmire by extending economic cooperation, trade, connectivity, etc. The extended economic cooperation would help in the improvement of the economy. Moreover, the soft power in term of the pressure tactics could become one way for putting the member countries in order. Russia has been sharing good terms with all countries and it should take the lead in this direction.
The Chinese OBOR is being supported by countries like Russia, Afghanistan, and Pakistan, except India on the sovereignty ground. India and Russia’s INSTC is a very ambitious project and could become a game changer for the Eurasian Penta. Chabahar and Gwadar ports could prove wonderful bridges for regional integration. CASA 1000 and TAPI could be materialized under the imagined Eurasian Penta.
The Eurasian Penta has the potential to become one of the major regional organizations in terms of geography and demography. The population used to always remain a dividend. About half of the population is in the region. The region is very rich in mineral resources. The region would have four nuclear powers in the organization. By coming together, the problem of connectivity can be get rid of. The free trade can do wonder for the region. The gas and oil pipeline can reach to India, Pakistan, Afghanistan etc.
Some insights may be taken from the European Union (EU). Can anybody deny the turbulent phase of the 19th century, the European had undergone the fever of nationalism, revolutions, and numerous wars between/among the colonial and powerful nations? The European history has been remained tainted with numerous wars and arch enmities. The wars like the Greek War of Independence (1821-1832), Franco-Prussian War (1870-1871), the German and Italy Unification Wars, Serbo-Bulgarian War (1885); Greco–Turkish War (1897); and the revolutions (1820s and 1840s), and of course the World Wars. Most of these wars were in colonial/imperial conflicts in nature. These had been fought to capture and expand the colonies in Africa, Asia, and the Middle East. Countries like India, China, Afghanistan were also colonies at some point of time. Even in the present context, the bilateral or regional conflicts are/were the legacies of the divide rule policies of the colonial masters.
The Penta can learn from the European Union, how to increase the intra-trade through the regional currency. The Penta may have its Eurasian Union, Eurasian Bank and Eurasian Currency etc., which can be done in phased manner. For the moment, keep the strategic issues in cold storage, and improve the bilateral/regional relations. It is suggested that the Penta needs to give importance to the bilateral and region economic integration and cooperation, thus, Eurasia would emerge as a strong and strategic region!! Being acceptable and sharing good terms with all the proposed member countries, Russia may take lead in this direction. It is suggested that China may moderate its aggressive and confrontational posture, Pakistan may control the non-state actors and India may adjust its relations with Pakistan and China, by this, the Eurasian Penta could emerge as a strong and acceptable regional organization.
**Dr. Bawa Singh* is teaching at the Centre for South and Central Asian Studies, School of Global Relations, Central University of Punjab, Bathinda, India. Reported by Eurasia Review 32 minutes ago.
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