GCC countries, Russia keen to enhance cooperation for security, stability, prosperity

News Network
July 11, 2023

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Moscow, July 11: Ministers from the Gulf states and Russia have stressed the importance of concerted efforts to achieve peace, security, stability and prosperity across the world, a joint Gulf Cooperation Council-Russian statement said on Monday.

The statement came after the sixth joint ministerial meeting of strategic dialogue between the GCC countries and Russia held in Moscow.

GCC countries are keen to enhance all forms of cooperation with Russia, secretary-general of the GCC, Jassim Al-Budaiwi, said.

Both sides stressed the importance of supporting the global econoy and preserving the stability of the global oil market, the statement said.

The Gulf countries and Russia also praised the successful efforts of the OPEC+ countries in this regard, and said there needed to be continued cooperation of all participating countries to adhere to the OPEC+ agreement in a way that served the interests of the global economy.

The GCC secretary-general said that cooperation with Russia within the OPEC+ group has had a positive impact on the oil market.

The position of the GCC on the Russia-Ukraine war is aligned with established UN conventions and principles, Al-Budaiwi said.

He added that Gulf Arab states back the UN principle of non-interference in the internal affairs of states, as well as any and all mediation efforts to bring an end to the conflict.

Russian Foreign Minister Sergey Lavrov expressed his country's welcoming of the rapprochement between Gulf states and Iran, and the reintroduction of Syria to the Arab League.

“We have a unified position with the Gulf states towards Syria's unity and sovereignty over its lands, and Syria's return to the Arab League has positively affected the region,” he said.

He also stressed the need to find a solution to the Sudanese and Yemeni crises, adding: “We welcome the efforts of the Gulf states to end the crisis in Yemen and launch a comprehensive national dialogue.”
 

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coastaldigest.com news network
April 8,2025

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Mangaluru: Meet Deepashree S, the state topper in the Commerce stream of the PU 2 exams, scoring an astonishing 599 out of 600. A student of Canara PU College, Deepashree had an inkling of success but admits the first rank was beyond her wildest dreams.

“All our doubts were cleared in the classroom itself,” she said, praising her lecturers. “Their concept-based teaching helped me understand everything thoroughly. I also made it a habit to revise daily.”

Planning her future early, Deepashree is already taking CA coaching and is all set to appear for the CA Foundation exam in May. Her next step? An integrated BCom with CA.

Daughter of Ashok S and Suma P, Deepashree is also a Carnatic classical singer, and attributes her sharp concentration to her love for music.

“Hard work matters, but yes, luck plays a part too,” she added with a wise smile — proving that success is a fine mix of talent, effort, and grace.

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coastaldigest.com news network
April 8,2025

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Mangaluru: Scoring an almost perfect 599 out of 600, Amoolya Kamath, a brilliant student of Expert PU College, has topped the Science stream in the PU 2 exams. Calm, composed, and quietly confident, Amoolya says the mock tests at her college were the game changer in overcoming her exam fear.

Coming from a family of doctors — Dr Dinesh Kamath and Dr Anuradha Kamath — Amoolya is charting her own path: “I want to become an engineer,” she said with determination.

Her success mantra? “I revised every day whatever was taught in class. I would reach home by 7 pm and then study till 10:30 pm. But honestly, I never expected the first rank!”

Apart from academics, Amoolya is a trained artist — having cleared the Bharatanatyam senior exam and Carnatic music junior exam. “Music kept my mind calm,” she smiled.

A graceful blend of intellect and art, Amoolya Kamath is an inspiration for students aiming to balance ambition with serenity.

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News Network
April 10,2025

Washington: In a move that stunned markets and political observers alike, US President Donald Trump on Wednesday announced a 90-day pause on his sweeping tariff regime—granting relief to all countries except China. Just a day earlier, such a reversal had seemed unimaginable.

Trump said the pause was prompted by the cooperative stance of over 75 nations, which had refrained from retaliating against his earlier tariffs. These countries, he claimed, chose negotiation over confrontation. During the pause, a reduced reciprocal tariff of 10% will be in place.

However, Trump made it clear that China would face no such leniency. Citing Beijing's alleged trade abuses and “lack of respect” for global markets, he announced an immediate hike in tariffs on Chinese imports to 125%, up from the earlier 104%.

“At some point, hopefully in the near future, China will realize that the days of ripping off the US and other countries is no longer sustainable or acceptable,” Trump wrote on Truth Social.

Despite repeatedly resisting pressure from within his own party and business circles to halt the tariff spree, Trump’s sudden pivot was reportedly triggered by alarm bells inside the US Treasury Department. According to CNN, Treasury Secretary Scott Bessent raised red flags about a dramatic selloff in the bond market, which, if left unchecked, could spiral into a financial crisis.

Speaking to the media after the announcement, Trump seemed to suggest that the decision came from instinct rather than strategy.

“We didn’t have access to lawyers… We wrote it up from our hearts. You have to be flexible,” he said.

The markets responded instantly. The Dow Jones Industrial Average surged over 2,500 points, while the Nasdaq jumped 12.2%, its best day in 24 years. The S&P 500 rose 6%, oil prices climbed more than 4%, and the dollar strengthened.

Impact on India

India, which had been hit with a 26% customized reciprocal tariff, saw its markets rattled in recent weeks. The pause offers a much-needed breather, as New Delhi works to finalize a multi-sectoral trade deal with Washington.

Ministry of External Affairs Spokesperson Randhir Jaiswal confirmed that talks are underway. “We hope to address these issues and conclude this agreement expeditiously,” he said, underlining the strong economic ties between the two nations.

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