Latest news with #global tensions
Times of Oman
17-07-2025
- Business
- Times of Oman
"Challenge before us is to stabilise global order": EAM Jaishankar at SCO Foreign Ministers' meet
Tianjin [China]: Amid rising global tensions and economic uncertainty, External Affairs Minister S Jaishankar on Wednesday raised concerns over increasing conflicts, competition, and coercion in the international system, calling on countries to work towards stabilising it. While addressing the Shanghai Cooperation Organisation Council of Foreign Ministers' Meeting in Tianjin, Jaishankar emphasised the urgent task of de-risking global frameworks while addressing persistent challenges that endanger shared global interests. "We meet at a time of considerable disorder in the international system. In the last few years, we have seen more conflicts, competition and coercion. Economic instability is also visibly on the rise. The challenge before us is to stabilise the global order, de-risk various dimensions and through it all, address long-standing challenges that threaten our collective interests," Jaishankar said. Chinese Foreign Minister and member of the Political Bureau of the CPC Central Committee, Wang Yi, during the meeting of the member states of the Council of Foreign Ministers of the Shanghai Cooperation Organisation (SCO) in Tianjin, proposed five key suggestions for the future development of the SCO, emphasising the need to strengthen its role amidst global turbulence. EAM Jaishankar also attended the meeting along with other Foreign ministers of the member states. In a statement issued by the Chinese Ministry of Foreign Affairs, Wang highlighted the vision for the SCO, aimed at guiding the organisation through a period of accelerating century-old changes, where multipolarity and economic globalisation are deepening, yet challenges like hegemony, protectionism, and regional conflicts persist. "At present, the century-old changes are accelerating, and turbulence and change are intertwined and resonating. The world is becoming more multipolar, and economic globalisation is deepening, and the global South is growing significantly. At the same time, hegemony and power are going against the trend, protectionism is surging, and regional conflicts are emerging one after another. Under the new situation, member states should form a further consensus on strengthening the construction of the SCO in a responsible attitude towards history and the future," Wang said as quoted in the statement.
South China Morning Post
16-07-2025
- Business
- South China Morning Post
ASML shares tumble amid trade tensions and growth uncertainty
ASML Holding chief executive officer Christophe Fouquet walked back the company's growth forecast for next year due to trade disputes and global tensions. 'We continue to see increasing uncertainty driven by macroeconomic and geopolitical developments,' Fouquet said in a statement on ASML's quarterly results on Wednesday. 'Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.' ASML's shares fell as much as 7.1 per cent to €655.70 in Amsterdam on Wednesday, the biggest decline since April. They have fallen 33 per cent in the last year. Chief financial officer Roger Dassen highlighted the threat of tariffs for new systems and parts sent to the US, as the threat of other countries reacting with reciprocal measures. Tariffs could also negatively hit ASML's gross margin, he said in a video accompanying the results. Semiconductors are currently exempt from US tariffs, but there is uncertainty over how chipmaking equipment will be affected. The administration of US President Donald Trump's chaotic roll-out has roiled markets and made planning major spending difficult. 01:02 Nvidia to resume selling H20 graphic processing chips to China in boon for AI Nvidia to resume selling H20 graphic processing chips to China in boon for AI 'This is a more negative comment than many were expecting at this stage,' Barclays analysts Simon Coles and Rohan Bahl said in a note.
