The new multilateral financial architecture

The announcement that major European powers will join the AIIB as founding members means the bank is now clearly accepted as a tangible game changer in the multilateral financial architecture. The formidable intentions of AIIB and the new transnational corridors project are both a challenge and an opportunity for India

China-promoted Asian Infrastructure Investment Bank (AIIB) has taken the world by surprise. AIIB, dismissed just a few months ago by western countries as another flamboyant plan by China, is now clearly accepted as a tangible game-changing development in the multilateral financial architecture. Continue reading

India, Pakistan intensify cross-border firing as ties sour

SRINAGAR India – Indian and Pakistani troops intensified firing across the border over the weekend killing at least four, an Indian official said on Sunday, straining ties between the arch rivals who recently called off top-level diplomatic talks.

The Himalayan region of Kashmir has been a bone of contention between India and Pakistan since both countries became independent in 1947. They have fought three wars and came close to a fourth in 2001 and there have been regular clashes on the Line of Control that divides Indian- and Pakistan-controlled Kashmir. Continue reading