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Time of India
9 hours ago
- Business
- Time of India
All routes lead to Mideast and Iran-Israel war won't shut down the 'Silicon Road'
The big theme in Asian supply chains over the past decade has been relocation. Entire industries have sought to pare their reliance on China by shifting manufacturing to other low-cost destinations like Vietnam and India. Japanese carmakers and Indian pharmaceutical firms have chosen Mexico to be closer to American demand. More recently, however, a new route is emerging — from Asia to the Middle East . Speculation that the US is on the verge of joining Israel's attack on Iran may unsettle business leaders' current plans and delay activity along the corridor. However, as long as hostilities don't spiral into a catastrophic event, such as the closing of the all-important Strait of Hormuz to shipping, they are unlikely to derail the economic case for a reprisal of the historic Silk Road. Asian firms are drawn to the Middle East because of the strong appetite in Saudi Arabia, Qatar and the United Arab Emirates to leverage their oil resources — and invest trillions of dollars in everything from electric cars to artificial intelligence. The emerging Silicon Road , as I like to think of it, is drawing top executives from Seoul, Shanghai, Taipei and Mumbai to opportunities in Riyadh, Abu Dhabi, Dubai and Doha. Bankers from London, Singapore and Tokyo aren't too far behind. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cheap Fuerteventura Holidays Await (Take A Look) BestSearches | Search Ads Undo The best evidence for the new passage comes from the 1,500-plus firms that Coalition Greenwich talks to annually across its Asia Large Corporate Banking and Trade Finance studies. In the latter, diversification, which has been high on the executives' priority list since President Donald Trump 's first term, gained momentum last year, with 34% of the 700-plus respondents saying that they were tapping new locations, versus 29% in 2023. India and Vietnam were predictably high on the list of destinations. Japan also received some mentions because of the export advantage accorded by a cheap yen. But the presentation slide that piqued the most interest among Coalition's banking clients is one that showed Asia's burgeoning corporate-banking ties with the Persian Gulf. Live Events You Might Also Like: Warning: Oil giant fears massive disruption if Hormuz shuts amid Iran-Israel conflict The South Korean chaebols are well entrenched in the Middle East, across a gamut of old and new industries. The construction wing of Samsung Group was the primary contractor for Burj Khalifa, the landmark Dubai skyscraper. The Hyundai Motor Group's engineering affiliate has built nuclear-power reactors for the UAE. The conglomerate is now setting up a car-assembly plant in Saudi Arabia. The Korean internet leader Naver Corp. has built large-scale virtual versions of Mecca, Medina and Jeddah for better city planning. The Koreans' success has become a blueprint for others. Compared with 2020, 9% more of Taiwanese and Indian companies, and 5%-6% more of Chinese and Hong Kong firms, point out the Middle East as a market where they have outbound banking activities. This isn't a flash in the pan. 'Not only are more companies citing the corridor, they are using more banks to do business in it,' says Ruchirangad Agarwal, the head of Coalition Greenwich's corporate banking practice for Asia and the Middle East. In terms of usage, European banks' share of this corporate banking market is a stable 29%. That isn't surprising, given the long history of British institutions like HSBC Holdings Plc and Standard Chartered Plc in both Asia and the Middle East. Even BNP Paribas SA — whose predecessor set up operations in China and India in 1860 — came to the Gulf region in the early 1970s in pursuit of petrodollars. You Might Also Like: Strait of Hormuz: Iran threatens 33-km wide key oil lifeline for the world The more interesting bit in the survey is a growing acknowledgement of Chinese and Japanese lenders. About 30% of banking and capital market assets in the Dubai International Financial Center hub are controlled by the top five Chinese banks. The Asia-Middle East corridor has emerged in response to the ambitious Saudi effort to curb the kingdom's reliance on oil. The $2 trillion that Crown Prince Mohammed bin Salman may end up spending toward this goal will spur demand for everything from physical infrastructure to artificial intelligence software and data centers. Dubai, meanwhile, is getting readying for a flying taxi service. The picks and shovels for the gold rush will come from Asian firms. They will increasingly tap their home-country banks, or a regional lender like Singapore's DBS Group Holdings Ltd., for working capital. The European trade-finance specialists may have to work hard to hold on to their sway.
Time of India
28-05-2025
- Entertainment
- Time of India
Kim Kardashian and her mom Kris Jenner are not on good terms and the reason will surprise you
Tension is brewing between Kim Kardashian and her mother, Kris Jenner . While Kris is focused on carrying on the Kardashian reality show legacy, Kim has other plans for her children. Kim Kardashian and Kris Jenner are at odds over how to raise the next generation of Kardashian stars. Their opposing viewpoints are reportedly causing significant strain in their relationship. What are Kim's plans for her kids' careers? Kim is carefully managing her children's entry into the spotlight on their own terms, whereas Kris wants them to continue the Kardashian family 's reality show instead, as per a report by In Touch. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Last Minute Cyprus Holidays (Unsold At Clearance) BestSearches | Search Ads Undo As the "momager" of her oldest child, 11-year-old North West, the 44-year-old founder of SKIMS has already been working diligently. ALSO READ: The whopping amount of money to be split between Hugh Jackman and Deborra-Lee Furness following their divorce Live Events She intends to continue the project for her other three children with ex-Kanye West: Saint, 9, Chicago, 7, and Psalm, 6. According to an insider, Kim is creating a plan for North and all of her children. "She is making the decisions, has a fantastic team working with her, and knows all the right people and studio heads,' as quoted in a report by In Touch. "She'll get an offer to do a photo shoot or something," the Kardashians star told podcast host Sara Foster, describing how she approaches career-building opportunities for her daughter. Kim was also worried about putting the younger ones in the spotlight, preferring to let them find their place over time. She's reportedly negotiating lucrative deals for the other ones as well as signing North up for voiceovers and photo shoots." "She is not pressuring her children, unlike Kris, and she wants the best for them." Why does Kris want the grandkids on reality TV? The 69-year-old Kardashian matriarch has been worried about her reality empire's dwindling viewership and feels it is slipping away from her as her daughters pursue other endeavors and build their own personal brands, according to a different source who previously spoke to Life & Style. She is constantly planning ahead and has been gradually integrating the children into the show because it has long been a top priority of hers to create the next generation of her family business. However, Kris' own daughter Kim is putting up a fight against her children being forced into the spotlight against their will, particularly after they endured their father's public breakdown for so long. Kris is furious because they don't have to do this unless they want to. Is this causing a permanent rift between them? Kris, who elevated the family to unprecedented heights, has plans for her grandchildren that center on their television program, The Kardashians, as per a report by In Touch. "Kris believes Kim owes her something for everything she has done for her, but Kim obviously doesn't see it that way. They are both very obstinate, and people are shielding their eyes as it looks like a major collision course." FAQs Why do Kim and Kris not get along? They disagree on whether Kim's children should be thrust into the family reality TV spotlight. Is Kim planning to make her children famous? Yes, but on her terms, Kim wants them to choose their own paths rather than being forced into fame.
