UAE to host 40th GCC Summit in 2019

Agencies
December 10, 2018

Abu Dhabi, Dec 10: The 40th session of the GCC summit will be held in the UAE, according to a communique issued at the end of the 39th summit in Riyadh.

King Salman bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques and King of Saudi Arabia, chaired the 39th session of the council in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The Supreme Council of GCC States welcomed the UAE's hosting of next summit and issued the 'Riyadh Declaration', which included 72 items covering matters related to the Gulf countries, the region and the world.

GCC Secretary-General Dr. Abdullatif bin Rashid Al Zayani, delivered the final declaration, saying that the risks have threaten the security and stability of the region and the economic challenges it faces prove the importance of adhering to the blessed march of the GCC, enhancing collective action and mobilising the common energies to address these risks and challenges and meet the aspirations of the citizens of the GCC countries to achieve further gains of Gulf integration and the far-sighted vision of their leaders who established the Council in May 1981.

The Basic Law adopted by the Founders of the council states that the ultimate goal of the GCC is "to achieve coordination, integration and interdependence among the Member States in all fields in order to reach their unity and enhance bonds links, among its people in various fields."

Al-Zayani asserted the importance of bolstering ties among GCC countries and friendly nations, similar to the relationship between the US and GCC. He noted that discussions in the summit focused on such relations and views that would call for optimism based on the agreement in its general perspective.

Al-Zayani pointed out that one of the most highlighted issues during the meeting of leaders were similar to the adoption of laws and strategies to ensure a greater acceleration of the Gulf joint action in terms of economic, political and security, in line with the changes in the regional and rapid changes in the international arenas.

The Secretary-General noted on the keenness of GCC leaders and contribute to the development and prosperity of their countries and the well-being of their peoples.

Supporting the right of the UAE to regain sovereignty over its three islands: the Greater and the Lesser Tunbs and Abu Musa, and over the territorial waters, the airspace, the continental shelf, and the economic zone of the three islands, as they are an integral part of the UAE.

The Council expressed disappointment that the repeated contacts with the Islamic Republic of Iran have not yielded any positive outcomes that would actively contribute to the resolution of the issue, and lead to the security and stability of the region. "The Council will continuing to look into all peaceful means that would lead to the restoration of UAE's right on the three islands," according to the declaration, which also urged Iran to respond to the efforts of the UAE and the international community in solving the issue by peaceful means or taking recourse to the International Court of Justice.

The summit welcomed the announcement by the UAE and Saudi Arabia to set up a coordination council and to adopt a strategy for economic, development and military integration. The GCC leaders reaffirmed keenness on maintaining the unity of member countries and noted their Gulf bloc realised many achievements that contributed to regional security, stability, economic and social prosperity.

They said challenges required further efforts to achieve integration at economic, social, political, security and military levels, said the declaration. They also called for completing programmes and projects needed to honour Saudi King Salman bin Abdulaziz's integration vision to ultimately boost the regional and international role of the GCC.

They called for addressing all obstacles to achieve economic integration by 2025 and to complete the requirement for the creation of the common market and customs union.

The GCC leaders appointed a commander for the joint military command to advance towards completion of the joint defence system, while underlining the importance of the bloc's role in addressing extreme ideologies through the promotion of moderation, tolerance, human rights, rule of law and Islamic Sharia.

They called for joining hands with partners within the international community to eliminate terrorism and drying its financing resources. The leaders also called for forming a "single and effective" foreign policy to be based on the statute, noted the declaration. They reiterated support for the Palestinian cause and the Yemeni people.

GCC leaders also discussed a number of issues related to the final declaration and to Arab and Islamic dossiers. They also extended thanks and appreciation to the Custodian of the Two Holy Mosques and Chairman of the Summit, Saudi wise leadership, and people for hosting the meeting.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 25,2020

Jun 25: Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people.

The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.

The rallies have propelled the wealth of their founders, with an added twist: Tencent's Pony Ma, worth $50 billion, has surpassed Jack Ma's $48 billion fortune, becoming China's richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande's Hui.

‘Perform Strongly'

Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and last month the tech giant reported a 26 per cent jump in first-quarter revenue.

“Tencent's online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.

That has been a boon for Pony Ma, 48, who owns a 7 per cent stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.

The native of China's southern Guangdong province studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.

It has been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China's second-richest person in 2013 and topped Baidu Inc.'s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma's fortune.

Bloomberg Intelligence's Ling notes, however, that Tencent's jump this year has lagged behind some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31 per cent in 2020, while PDD's American depositary receipts have more than doubled. Alibaba, meanwhile, has advanced just 6.9 per cent.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 30,2020

Mumbai, Jan 30: The Uttar Pradesh Special Task Force (STF) has arrested Dr Kafeel Khan from Mumbai airport for allegedly making inflammatory statements at AMU during protests against the Citizenship Amendments Act (CAA) last month, officials said.

Khan was arrested on Wednesday night with assistance from Mumbai Police at the airport when he arrived in the city to attend anti-CAA protests, an official said.

"Officials of the UP STF arrested Dr Kafeel Khan in a case which was registered at Civil Lines Police Station under section 153 A (promoting enmity between different groups) of IPC. Our police team helped our UP counterparts on their request," said an official from Mumbai Police.

He claimed that Khan had made inflammatory statements on December 12 last year during the protest near Bab e Syed Gate outside the Aligarh Muslim University in front of more than 600 students.

The official also alleged that the Gorakhpur doctor had made objectionable comments against Union Home Minister Amit Shah.

The FIR against Khan mentions that Swaraj India's president Yogendra Yadav was also present during the speech at AMU.

Following the arrest in the case, Khan was taken to the Sahar Police Station and after completing formalities he will be taken to UP on transit remand, the official said.

Khan, a paediatrician, had come to the limelight in 2017 when a controversy broke out after the death of over 60 children in less than a week at the BRD Medical College in Gorakhpur, UP.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 7,2020

Mar 7: Two Malayalam news channels, Asianet News and Media One, which were banned by the information and broadcasting ministry for their coverage of the recent violence in Delhi on Friday evening, were allowed to resume telecasting on Saturday morning.

While Asianet News appeared to have begun operations around 7am on Saturday, Media One was screening content by 9.30am.

The ministry of information and broadcasting had imposed a 48-hour ban on Asianet News and Media One for their coverage of the Delhi violence for 48 hours from 7.30pm on Friday. Both Asianet News and Media One were barred under Rule 6(1 c) and Rule 6(1e) of the Cable Television Networks Act, 1994.

The ministry of information and broadcasting alleged Asianet News and Media One were "biased" and critical of the RSS and Delhi Police.

The ban on Asianet News and Media One triggered a torrent of criticism of the move. Congress MP Shashi Tharoor asked how "Malayalam channels inflame communal passions in Delhi?" and alleged some English news channels were continuing "their brazen distortions" with impunity.

In a statement issued on Friday after the ban, Media One termed the move "unfortunate and condemnable" and called it a "blatant attack against free and fair reporting". Media One called it "an order to stop free and fair journalism".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.