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Express Tribune
2 days ago
- Business
- Express Tribune
EWEC: linking South Asia with central and west Asia
A recently published RAND corporation study in partnership with Islamabad based think-tank makes a strong case for linking South Asia with Central and West Asia through a network of energy, infrastructure and digital corridors. The study titled, "Examining the Feasibility of an East West Economic Corridor (EWEC) for South and Central Asia", is based upon primary sources and interviews of experts from main stakeholder nations in EWEC. The senior policy practitioners, politicians, business tycoons, academics and infrastructure experts participated in the study, making it one of the seminal contributions to the academic literature on regional connectivity and economic partnership. Most important aspect of the feasibility study was the complete consensus amongst the Indian and Pakistani respondents about the value of trade and economic connectivity as a vehicle for sustainable peace in the region. The linkage of EWEC with CPEC and other regional and international connectivity initiatives like International North South Transport Corridors (INNSTC) and BRI was also acknowledged as a win-win formulation that should link all these economic corridors in a mutually beneficial equation. The study also analysed past examples of success and failure of economic corridors between countries as well as continents. An interesting fact that emerged from the analysis of past corridors was the need for generating economic activity in the countries being served with these corridors, in the absence of which, a simple transport corridor might not generate any economic activity other than resources extraction, much like what happened in the African countries through the rail and road corridors that resulted in resource curse for the whole African continent. The study cautioned against the unviable connectivity, pointing out that the true economic value of a corridor was a function of its high Social Internal Rate of Return Index (SIRR). In Pakistan the average SIRR of such corridors was 52% whereas the same was 74% in India. The economic corridor becomes socially viable when the cost of capital for developing a corridor is lower than the SIRR. The past successful examples of such corridors include Trans-European Transport Network which was operationalised in 1996 in EU, and comprised nine networked corridors. In Asia Greater Mekong Subregion Economic Cooperation Program (GMSECP) began in 1992 as a trade facilitation corridor. Established in 1992, GMSECP focused on trade facilitation for first 15 years before construction of infrastructure in 2008. The Central Asia Regional Economic Cooperation Program (CAREC), established in 2001, also initially focused on trade facilitation before developing into a road and railway connectivity corridor after 20 years. The cases of some unsuccessful regional corridors include Turkmenistan Afghanistan Pakistan India (TAPI), Turkmenistan Afghanistan Pakistan (TAP), Iran Pakistan India (IPI) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC 1997, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka). According to scholars like Kapell ((Kapell, p.275) quoted in the study, the lack of success of regional corridors like IPI, TAPI and BIMSTEC was a result of Indian failure in three areas. This included failure to increase regional trade; failure to benefit the region through its supply chains; and inability to balance its development needs with the geopolitical preferences of global powers like USA. India's troublesome relations with Pakistan were also identified as a major contributor towards the failure of past regional connectivity initiatives. The study, however, identified certain current developments that might facilitate EWEC in future. These include a growing Indian economy in search of markets; an improved regional connectivity amongst Central Asian States and a desire to link up with South Asia; an Afghan Interim Government in search of economic opportunities through transit fees of corridor; and a realisation in Pakistan to leverage its locational advantage to earn geo-economic dividends. Mindful of the inhibitors like Indo-Pak tensions, competing geopolitical interests of global powers, access to capital issues and unstable Afghanistan, the study recommends an incremental approach for realising the EWEC vision. According to that approach the EWEC development should be sequenced in a manner that trust is built first through regional organisations like East West Economic Corridor Association (EWECA), where a research and advocacy group, representing each member country of EWECA i.e. Afghanistan, India, Iran and CARs, would be created to conduct research on several aspects of the proposed corridor to forge consensus through technical, financial and advocacy studies. Second mandate of the EWECA would be to manage geopolitical tensions both within and outside the region, somewhat like the ASEAN model. The third mandate would be promotion of connectivity projects through project management and financing access help. To make EWECA friction free and effective, the governance structure of the organisation should be equitable and participative, with each member having a vote for decision making through consensus. One of the important conclusions of the study was the consensus amongst Indian and Pakistani respondents about the financing institutions that included Asian Infrastructure Investment Bank (AIIB) amongst others like ADB and World Bank. The importance of an entente cordiale amongst China and the US was highlighted as a desired concomitant of the regional corridors. The network of proposed corridors includes TAPI, IPI, Trans Afghan Railways (Extending till CARs like Uzbekistan, Kazakhstan, Tajkistan, Kyrghzstan) and intra-CAR corridors like Tengez-Galkynysh linking with this network. This network would include road & railway lines, gas pipelines, telecommunications & digital highways, and trade facilitation infrastructure along the network of roads & railways. The network of corridors would enable trade, commerce and energy supply between South Asia and Central Asia with the potential to link up with the European and West Asian markets. The Central Asian states would also be big beneficiaries linking up with warm water ports of Arabian Sea. Corridors like CAREC, TAPI, INSTC and IPI would also get a new lease of life through EWEC besides linking BRI and CPEC in a mutually beneficial equation. The EWEC is proposed to be implemented in phases starting with small standalone projects with the trust building and assuagement of the geopolitical tensions as the precursors of the concept.
San Francisco Chronicle
05-06-2025
- Politics
- San Francisco Chronicle
Ukraine's drone attack on Russian air bases is a lesson for the West on its vulnerabilities
The targets were Russian warplanes, including strategic bombers and command-and-control aircraft, worth hundreds of millions of dollars. The weapons were Ukrainian drones, each costing under $1,000 and launched from wooden containers carried on trucks. 'Operation Spiderweb,' which Ukraine said destroyed or damaged over 40 aircraft parked at air bases across Russia on Sunday, wasn't just a blow to the Kremlin's prestige. It was also a wake-up call for the West to bolster its air defense systems against such hybrid drone warfare, military experts said. Ukraine took advantage of inexpensive drone technology that has advanced rapidly in the last decade and combined it with outside-the-box thinking to score a morale-boosting win in the 3-year-old war that lately has turned in Moscow's favor. How deeply the attack will impact Russian military operations is unclear. Although officials in Kyiv estimated it caused $7 billion in damage, the Russian Foreign Ministry disputed that, and there have been no independent assessments. Moscow still has more aircraft to launch its bombs and cruise missiles against Ukraine. Still, the operation showed what 'modern war really looks like and why it's so important to stay ahead with technology,' said Ukrainian President Volodymyr Zelenskyy. Where the West is vulnerable For Western governments, it's a warning that 'the spectrum of threats they're going to have to take into consideration only gets broader,' said Douglas Barrie, senior fellow for military aerospace at the International Institute of Strategic Studies in London. In the past decade, European countries have accused Russia of carrying out a sabotage campaign against the West, with targets ranging from defense executives and logistics companies to businesses linked to Ukraine. Unidentified drones have been seen in the past year flying near military bases in the U.S., the U.K and Germany, as well as above weapons factories in Norway. High-value weapons and other technology at those sites are 'big, juicy targets for both state and non-state actors,' said Caitlin Lee, a drone warfare expert at RAND in Washington. 'The time is now' to invest in anti-drone defenses, she said. Low-cost options to protect aircraft include using hardened shelters, dispersing the targets to different bases and camouflaging them or even building decoys. U.S. President Donald Trump last month announced a $175 billion 'Golden Dome' program using space-based weapons to protect the country from long-range missiles. Not mentioned were defenses against drones, which Lee said can be challenging because they fly low and slow, and on radar can look like birds. They also can be launched inside national borders, unlike a supersonic missile fired from abroad. Drones 'dramatically increase' the capacity by a hostile state or group for significant sabotage, said Fabian Hinz, a missile expert and research fellow at IISS. 'How many targets are there in a country? How well can you defend every single one of them against a threat like that?' he said. Ukraine's resourceful, outside-the-box thinking In 'Operation Spiderweb,' Ukraine said it smuggled the first-person view, or FPV, drones into Russia, where they were placed in the wooden containers and eventually driven by truck close to the airfields in the Irkutsk region in Siberia, the Murmansk region in the Arctic, and the Amur region in the Far East, as well as to two bases in western Russia. Ukraine's Security Service, or SBU, said the drones had highly automated capabilities and were partly piloted by an operator and partly by using artificial intelligence, which flew them along a pre-planned route in the event the drones lost signal. Such AI technology almost certainly would have been unavailable to Ukraine five years ago. SBU video showed drones swooping over and under Russian aircraft, some of which were covered by tires. Experts suggested the tires could have been used to confuse an automatic targeting system by breaking up the plane's silhouette or to offer primitive protection. 'The way in which the Ukrainians brought this together is creative and obviously caught the Russians completely off guard,' Barrie said. Satellite photos analyzed by The Associated Press showed seven destroyed bombers on the tarmac at Irkutsk's Belaya Air Base, a major installation for Russia's long-range bomber force. At least three Tu-95 four-engine turboprop bombers and four Tu-22M twin-engine supersonic bombers appear to be destroyed. Since the beginning of Russia's full-scale invasion in 2022, the outgunned and outnumbered Ukrainian military has adopted a creative approach to warfare. Its forces deployed wooden decoys of expensive U.S. HIMARS air defense systems to draw Russia's missile fire, created anti-drone units that operate on pickup trucks, and repurposed captured weapons. Experts compared Sunday's attack to Israel's operation last year in which pagers used by members of the militant group Hezbollah exploded almost simultaneously in Lebanon and Syria. Israel also has used small, exploding drones to attack targets in Lebanon and Iran. The U.S. used Predator drones more than a decade ago to kill insurgents in Afghanistan from thousands of miles away. Developments in technology have made those capabilities available in smaller drones. Hinz compared the state of drone warfare to that of the development of the tank, which made its debut in 1916 in World War I. Engineers sought to work out how to best integrate tanks into a working battlefield scenario — contemplating everything from a tiny vehicle to a giant one 'with 18 turrets' before settling on the version used in World War II. With drones, 'we are in the phase of figuring that out, and things are changing so rapidly that what works today might not work tomorrow,' he said. How the attack affects Russian operations in Ukraine The Tu-95 bombers hit by Ukraine are 'effectively irreplaceable' because they're no longer in production, said Hinz, the IISS expert. Ukraine said it also hit an A-50 early warning and control aircraft, similar to the West's AWACS planes, that coordinate aerial attacks. Russia has even fewer of these. 'Whichever way you cut the cake for Russia, this requires expense," said Thomas Withington of the Royal United Services Institute in London. "You can see the billions of dollars mounting up,' Russia must repair the damaged planes, better protect its remaining aircraft and improve its ability to disrupt such operations, he said. Experts also suggested the strikes could force Moscow to speed up its program to replace the Tu-95. While underscoring Russian vulnerabilities, it's not clear if it will mean reduced airstrikes on Ukraine. Russia has focused on trying to overwhelm Ukraine's air defenses with drones throughout the war, including the use of decoys without payloads. On some nights last month, Moscow launched over 300 drones. 'Even if Ukraine was able to damage a significant portion of the Russian bomber force, it's not entirely clear that the bomber force was playing a linchpin role in the war at this point,' Lee said. Ukrainian air force data analyzed by AP shows that from July 2024 through December 2024, Russia used Tu-22M3s and Tu-95s 14 times against Ukraine but used drones almost every night.
Miami Herald
29-05-2025
- Business
- Miami Herald
China Learns New Lessons From Russia-Ukraine War: Report
China is taking advantage of the Russia-Ukraine war to prepare for a potential future conflict by drawing lessons from the ongoing three-year-long conflict, according to a United States think tank. Newsweek has contacted the Chinese and Russian foreign ministries by email for comment. While China has claimed neutrality in Moscow's war with Kyiv, the East Asian power is providing diplomatic support to its quasi-ally, Russian President Vladimir Putin. Beijing has also presented a 12-point plan and proposed four principles to achieve peace. Ukraine and its Western allies have long accused China of aiding Russia during the war, including by exporting dual-use technology. Beijing this week denied Ukrainian claims that it is supplying Russia with "lethal weapons," asserting that it strictly controls dual-use items. In a RAND report titled "China's Lessons from the Russia-Ukraine War," political scientist Howard Wang and research assistant Brett Zakheim wrote that both the Chinese Communist Party (CCP) and the Chinese People's Liberation Army (PLA) have made "significant efforts" to study the conflict and draw lessons for Chinese policy. The research report-published on May 22-noted that CCP analysts believe Washington "manufactures crises to justify alliances, not because their allies share interests or values." "Accordingly, CCP analysts see these alliances as vulnerable and assess that China has opportunities to use disinformation to weaken U.S. alliances," the authors said. The U.S. government has previously accused China of conducting a disinformation campaign related to the war. For the Chinese military, which is being modernized to become a "world-class" force, PLA researchers assessed that America's defense industrial base cannot sustain a protracted war and that the margin of U.S. technological superiority will diminish as a conflict drags on. China believes that its defense mobilization system would offer advantages in an extended conflict, the report said. China, which has the world's largest navy by hull count, operates 35 shipyards linked to the PLA, compared with just four public shipyards for the U.S. Navy. The report also claimed that China is redefining hybrid warfare-the combination of military and nonmilitary actions-after observing how Russia overestimated its ability to deter military escalation through nonmilitary tools, which led to "disastrous battlefield outcomes." Given Russia's failure, the report concluded, the PLA may be growing doubtful that it can prevent U.S.-China competition from erupting into conflict. It added that the PLA is shifting to a "new vision of warfare"-one resigned to fighting a costly, protracted conflict, rather than relying primarily on compelling enemies to surrender with minimal use of force. The RAND's report said: "[T]he lessons that CCP and PLA leaders learn from the Russia-Ukraine war support the CCP's development of strategies and policies for strategic competition with the United States, including how to prosecute a potential future conflict such as a war over Taiwan." Mao Ning, spokesperson for the Chinese Foreign Ministry, said at a press conference on May 27: "China's position on the Ukraine issue is consistent and clear. We've been committed to bringing about a ceasefire and promoting talks for peace. China has never provided lethal weapons to any party to the conflict, and strictly controls dual-use items." It remains to be seen how the Chinese ruling party and military will apply the lessons learned from the Russia-Ukraine war to Taiwan, a self-ruled island claimed by Communist China, which has repeatedly threatened the use of force against the U.S. security partner. Related Articles China Responds to Latest Trump Visa Move: 'US Lie'Satellite Imagery Captures Chinese Aircraft Carrier in Contested WatersMarco Rubio Announces New Plan to Revoke Chinese Student VisasChina's Military Presence Grows on Doorstep of New U.S. Partner 2025 NEWSWEEK DIGITAL LLC.
The South African
27-05-2025
- Business
- The South African
Rand Water maintenance set to impact several suburbs in Gauteng
Bulk potable water supplier Rand Water will conduct critical maintenance on its key infrastructure resulting in major disruptions in Gauteng from Thursday, 29 May, until 2 June. The water utility said the objective of the maintenance is to increase capacity and improve plant availability, reliability in preparation for the anticipated increase in supply volumes from August. RAND WATER MAINTENANCE TO AFFECT ALL THREE METROS IN GAUTENG Rand Water said maintenance activities will commence at different times and locations across various municipalities. However, the main maintenance operation is scheduled to begin at 3:00 on Thursday, 29 May and is expected to be completed at 17:00 on Monday, 2 June. During the above-mentioned period, pumping capacity will be reduced at Eikenhof, Palmiet, Mapleton and Zwartkopjes systems. As a result, areas within the City of Johannesburg, Ekurhuleni and Tshwane may experience low water pressure or intermittent supply. The maintenance may also impact water provision to local municipalities of Rand West, Mogale City, Merafong, Madibeng, Lesedi, Govan Mbeki, Rustenburg, Royal Bafokeng Administration and Victor Khanye, Thembisile Hani, Midvaal and Emfuleni. As mentioned-above, the potable supplier will conduct critical maintenance which will result in no water for a number of areas in the three metropolitan municipalities in Gauteng. The areas that will be affected by the Rand Water maintenance set to commence on 29 May. Source: Facebook/City of Ekurhuleni Johannesburg systems that will be affected by the critical maintenance scheduled from Tuesday, 3 June. Source: Facebook/Rand Water Tshwane systems that will be impacted by the planned maintenance. Source: Facebook/Rand Water HOW WILL YOU PLAN FOR THE UPCOMING RAND WATER MAINTENANCE? Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
Yahoo
22-05-2025
- Business
- Yahoo
Is Now An Opportune Moment To Examine Randstad N.V. (AMS:RAND)?
Randstad N.V. (AMS:RAND), is not the largest company out there, but it saw a decent share price growth of 19% on the ENXTAM over the last few months. Shareholders may appreciate the recent price jump, but the company still has a way to go before reaching its yearly highs again. As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company's outlook is already priced into the stock. However, could the stock still be trading at a relatively cheap price? Today we will analyse the most recent data on Randstad's outlook and valuation to see if the opportunity still exists. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Randstad is currently expensive based on our price multiple model, where we look at the company's price-to-earnings ratio in comparison to the industry average. In this instance, we've used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock's cash flows. We find that Randstad's ratio of 62.12x is above its peer average of 17.02x, which suggests the stock is trading at a higher price compared to the Professional Services industry. But, is there another opportunity to buy low in the future? Since Randstad's share price is quite volatile, this could mean it can sink lower (or rise even further) in the future, giving us another chance to invest. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market. See our latest analysis for Randstad Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let's also take a look at the company's future expectations. Randstad's earnings over the next few years are expected to double, indicating a very optimistic future ahead. This should lead to stronger cash flows, feeding into a higher share value. Are you a shareholder? RAND's optimistic future growth appears to have been factored into the current share price, with shares trading above industry price multiples. At this current price, shareholders may be asking a different question – should I sell? If you believe RAND should trade below its current price, selling high and buying it back up again when its price falls towards the industry PE ratio can be profitable. But before you make this decision, take a look at whether its fundamentals have changed. Are you a potential investor? If you've been keeping an eye on RAND for a while, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the optimistic prospect is encouraging for RAND, which means it's worth diving deeper into other factors in order to take advantage of the next price drop. So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. While conducting our analysis, we found that Randstad has 3 warning signs and it would be unwise to ignore these. If you are no longer interested in Randstad, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
