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De/Cypher Data Dive 📈
Asia View
The Escalating Tensions between Iran and Israel
Written by De/Cypher Team
Iran launched a direct military attack on Israel on Sunday 13th April. The attack was in retaliation to an Israeli attack on Iran’s embassy in Damascus. Having been engaged with Israel for over two decades in a “shadow war”, Iran launched over 170 drones, 30 cruise missiles and 120 surface-to-surface missiles. A conflict that has by far avoided direct military confrontation and had been fought by proxies, cyber-attacks and economic sanctions, for the first time has escalated to direct attack. Breaking diplomatic protocols, both countries have violated international norms with their aggression. Given the highly interconnected nature of the global world order, a regional conflict in West Asia could spill over and destabilize South Asia as well. The looming threat of violence has countries watching events unfold closely.
The geostrategic implications of this aggression include the heightened possibility of a full-blown crisis in West Asia with allies and proxies being called to the fore directly. Pakistan’s foreign office has urged both countries to exercise utmost restraint to prevent matters from escalating further and move towards de-escalating the situation.
Secondly, given Iran’s proximity with China and Russia and USA’s clear support for Israel, whether West Asia emerges as a site where the two powers lock horns is to be watched closely. Washington and Beijing will not sit and watch idly if war breaks out in an economically significant region. China has called for all parties to maintain calm and solve all disputes keeping in mind the UN charter.
Thirdly, the attack’s economic repercussions could impact oil and energy supplies. Given that the region produces a third of the world’s oil, the recent attacks could lead to an increase in price and restricted supply. The Strait of Hormuz which lies in the region connects the Persian Gulf to the Gulf of Oman and ensures supplies reach the Indian Ocean. An increased freight charge on cargo that uses this route for movement can be expected leading to an increase in crude oil prices due to avoidance. An increased risk premium on energy and oil can be expected as well. All of these factors will compound to increase inflation globally.
Af-Pak De/Cypher
15 April, 2024
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SBP repays $1bn against euro bonds
Pakistan has managed to repay a 1 billion loan in Eurobonds secured from the Central Bank. The country faces a severe economic crisis with an issue in the balance of payments, record inflation and steep currency devaluation. The loan was due to mature this month. The repayment was made after it secured a bailout from Pakistan. Read more: Dawn
Islamabad pressures Afghan Taliban, stressing similar threats of ISIS and TTP: Pakistani media
Pakistan is hoping to convince the world that the Tehreek-i-Taliban is a source of terror internationally and not just a national security problem for Islamabad. At a recent Shanghai Cooperation Organization meeting, Pakistan warned of the ISIS-Pakistani Taliban threat. The organization expressed concern over international terrorist presence in Afghanistan, urging Kabul to uphold promises. Read more: KP
Pakistani police search for gunmen who abducted bus passengers and killed 11 in the southwest
11 people were killed by an attack on a bus on the Quetta-Taftan Highway in Pakistan on Saturday. The Pakistani police are still in search of the gunmen who are claimed to be from Baluch outlaw groups. The victims were all from the Punjab province. Shehbaz Sharif the Prime Minister of Pakistan vowed to punish those responsible. No group has claimed responsibility for the attack yet. Separatist ethnic Baloch militant groups in the mineral-rich region have been fighting for decades against the state, arguing it denies them their fair share of its resources. Read more: Ground News
Over 63,000 parents refuse polio vaccine to their kids during nationwide drive
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Bangladesh De/Cypher
15 April, 2024
Top Stories📜 this week
Bengali New Year 1431 celebrations in Bangladesh
The Bengali New Year, celebrated as Pohela Boishakh, holds profound significance in the hearts of the Bangladeshi people, marking the beginning of a new year filled with cultural pride. Prime Minister Sheikh Hasina greeted the people on Pohela Boishakh, through a video message, urging unity for a better future.
Rooted in history, the origins of Pohela Boishakh can be traced back over six centuries to the reign of Mughal Emperor Akbar. In 1556, Akbar introduced the Bangla calendar, known as "Fasholi Shan," to streamline land tax collection in 'Subah Bangla.' The calendar merged elements of the lunar Islamic calendar and the solar Hindu calendar, aligning with the agricultural cycles of the region. Over time, this new calendar became intertwined with the fabric of Bangladeshi culture, evolving into the cherished Pohela Boishakh celebration we know today.
This year's festivities were vibrant and widespread, with artists from Chhayanaut serenading the new year with Tagore's "Esho hey Boishakh" song under Ramna Park's banyan tree. Businesses marked the occasion by opening new account books ('Halkhata') and offering sweets to customers.
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Bangladesh faces not only political but also cultural ‘aggression’: BNP
During the Pohela Boishakh celebration at the BNP's Naya Palton central office, the party's senior joint secretary general, Ruhul Kabir Rizvi, stated that Bangladesh was facing not only political but also cultural "aggression." Rizvi accused the Awami League administration of attempting to change fundamental aspects of Bangladeshi identity, such as language, cultural practices, and traditional customs. He emphasized the cultural heritage championed by BNP chairperson Khaleda Zia and acting chairman Tarique Rahman, stating that it is fundamental to the nation's identity, which includes nationalism, independence, sovereignty, and democracy. Read more: New Age
Bangladeshi 'India out' campaign hits Ramadan sales
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BJP invites AL to witness Lok Sabha polls
The ruling Awami League of Bangladesh has been invited by India's Bharatiya Janata Party (BJP) to attend the upcoming Lok Sabha elections, along with political parties from at least 25 other countries. This invitation aims to provide first-hand experience of India's democratic process as the BJP seeks a third term under Prime Minister Narendra Modi. So far, thirteen parties have accepted the invitation, with representatives scheduled to attend rallies and visit polling stations during the seven-phase elections, which begin on April 19. Read more: The Daily Star
Bangladesh's GDP growth at 6.1% in FY23-24: ADB
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Bangladesh faces complex transition from coal-based energy: Global Energy Monitor report
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Bangladesh among nations with highest burden of viral hepatitis B, C
According to a WHO report, Bangladesh, China, India, and Pakistan have the world's highest burden of hepatitis B and C infections. These nations, along with others, are responsible for two-thirds of the global burden. The report emphasizes the critical need for immediate action to achieve universal access to prevention, diagnosis, and treatment by 2025. Viral hepatitis is the world's second leading infectious cause of death, accounting for 1.3 million deaths per year. Read more: The Daily Star
Asia Headlines Quick Recap 🌏
Myanmar rebels say they have repelled junta push to take back border town
Myanmar's Karen National Union (KNU) repelled junta forces' attempt to retake Myawaddy, a key border town. Read more: TBS
Landslides kill 18 on Indonesia's Sulawesi island, 2 missing
Landslides on Indonesia's Sulawesi island claimed the lives of at least 18 people, with 2 individuals reported missing. Read more: Bangkok Post
Iran attack on Israel adds to airline troubles in Middle East
Iran's missile strikes on Israel caused significant disruptions for global airlines, leading to flight cancellations and reroutings, especially affecting the Europe-Asia route. Major carriers such as Qantas, Lufthansa, United, and Air India were among those affected. Read more: Reuters
HK approves first bitcoin, ethereum spot ETFs
Hong Kong's securities regulator approved the first spot bitcoin and ethereum exchange traded funds (ETFs), a milestone for crypto acceptance in Asia. Read more: The Standard
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