Connect with us

Entertainment

G7 finance leaders look to address inequities as trade tensions fray unity

Published

on

G7 finance ministers meeting in Paris on Monday will seek common ground on addressing global economic concerns and co-ordinating vital raw material supplies, even as geopolitical disagreements threaten to challenge the cohesion of the group.

The two-day conference followed a summit between US President Donald Trump and Chinese President Xi Jinping in Beijing that achieved few meaningful economic accomplishments as tensions over Taiwan and trade simmered behind a show of diplomatic cordiality.

The Paris agenda will focus on what French Finance Minister Roland Lescure said are “deep-rooted global economic imbalances that are creating trade friction and could result in a turbulent unwinding in financial markets.””The way the global economy has been developing for the past 10 years or so is clearly unsustainable,” he added, referring to a pattern where China under-consumes, the United States over-consumes and Europe under-invests.

UPDATE FROM THE SUMMIT US-CHINA

Lescure, who will chair the talks, said the G7 provided a chance for open discussion among allies at a time of growing disagreements with Washington.These are not easy topics. “I am not going to say that we agree on everything, including, of course, first and foremost with our American friends,” he told journalists before the meeting.

The Trump administration allowed a sanctions waiver on Russian seaborne oil to lapse on Saturday, and finance ministers will be seeking for an update on US-China ties after the Trump-Xi summit and on the latest US efforts to re-open the Strait of Hormuz.

The success would be if the sides just accept each has some responsibility for the trade and financial flow imbalances, French officials participating with preparations said, but the US side is expected to be reluctant.

FALLOUT FROM MIDEAST CONFLICT””I’d be shocked if they’re going to sign on to the idea this is the US’s fault in some way,” said Philip Luck, director of the economics program at Washington’s Center for Strategic and International Studies.

Ministers are also set to examine the economic effects from the Mideast conflict and volatility on global bond markets, which are of particular concern to Japan.

Rachel Reeves will “push for coordinated action to limit inflation and supply chain pressures and restore freedom of navigation through the Strait of Hormuz” at the meeting, and also reassert the government’s desire to reduce trade barriers between Britain and the European Union, Britain’s finance ministry said.

G7 divisions make it harder to show unity as ministers prepare for a June 15-17 leaders summit ​in the resort town of Evian.

CRITICAL MINERAL DEPENDENCE

A second target will be ⁠critical minerals and rare earths, where G7 governments are aiming to coordinate efforts to lessen reliance on China, which dominates supply chains important for technology from electric vehicles to renewable energy and security systems.

The G7 will call for tighter collaboration to monitor markets, anticipate disruptions and establish alternative sources, including through cooperative initiatives across allied economies, Lescure said. “The goal is to make sure that no country can ever again have a monopoly” of such materials, he said.

G7 countries are aiming to create a shared toolbox of measures to stabilise markets and boost domestic investment, possibly with price floors for manufacturers, pooled purchases and also tariffs.

Luck, who worked on the topic in the Biden administration, said the program is a long-term undertaking that would do little on the ⁠finance ministers’ ​meeting. “”This is very early innings of trying to figure this out,” he remarked. “I don’t think there is agreement on a strategy even within the U.S. government, let alone being able to articulate that in a convincing way to ​our partners in order to get them to sign on,” he said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

Sania Ashfaq levelled new claims against ex-husband Imad Wasim

Published

on

By

Digital media personality Sania Ashfaq, former wife of Pakistani cricketer Imad Wasim, has made new claims about their married life, including her ex-husband’s aggressive conduct, mental stress and lack of attention towards their children.

Sania Ashfaq, in a fresh post uploaded on Instagram, said that she was subjected to a lot of mental stress and domineering behaviour throughout marriage.

She further alleged that Imad Wasim is not inclined to meet or communicate with the children and is not willing to bear their expenditures whilst she is still working to get custody of the children.

In her statement, Sania said that Imad continues to make public statements even after all that she and her children went through. She further alleged he lied to her during her pregnancy and his domineering attitude made her life a misery.

Sania also revealed Imad Wasim was detained in the UK in July 2025 for claims of domestic violence and said there were fears he planned to take her away from the children. She added that his family had pressured her to retract her comments and this had led to social services getting involved.

She said social workers asked Imad recently whether he wanted to speak to his children but he allegedly did not respond. Sania said he does not want to meet the children nor talk to them but continues to cause problems for her in the custody issues. She stated she will continue to protect her children and hopes the truth concerning their abuse will ultimately emerge.

In the meantime, Imad Wasim has also reacted publicly on the topic.

The cricketer in an Instagram story gave what he called a final warning and said he divorced Sania for personal reasons and that chapter of his life is now ended.

Imad said his new wife Naila Raja should not be brought into the scandal since she has nothing to do with the conflict and she entered his life after the divorce.

He appealed to his ex-wife to embrace reality and end what he called a series of public dramas, saying this would be the last time he would speak publicly on the issue.

Both sides have made allegations which are claims and counter claims and have not been independently verified.

Continue Reading

Entertainment

Ali Gul Pir, wife Dr Azeemah welcome son, name him Salar

Published

on

By

Comedian Ali Gul Pir has announced the joyous news that he and his wife Dr Azeemah Nakhoda have had their baby son Salar Gul Pir.

He announced the birth on Instagram and also wished himself a Happy Father’s Day!

In his message, Ali wrote that he loved his new born son and praised his wife calling her the greatest blessing in his life.

He added, “From the second I held Salar for the very first time, I wanted to give him all the happiness in the world and protect him from every pain.

“Life won’t always be easy for my son,” Ali said as well. There will be sad times, there will be hard times, and there will be lessons to learn.

But he swore he would always be there for his son, support him and love him as a parent.

The touching letter accompanied images Ali posted from the hospital, precious family moments and their journey home with newborn Salar.

Many celebrities and fans have congratulated the newlyweds. Actress Hira Khan commended Ali saying that he would be a fantastic father. Actress Aiman Khan also wished her the best.

Salar’s birth is a wonderful and happy new chapter in Ali Gul Pir’s life as he celebrates first Father’s Day as a parent.

Continue Reading

Entertainment

Actor Namrah Shahid appeals to internet not to judge celebrities on hearsay

Published

on

By

Actor Namrah Shahid has expressed her opinions on the current issues of celebs Falak Shabir, Sarah Khan, Khushhal Khan and Ramsha Khan and has urged people not to judge others based on speculations or assumptions.

In a recent interview, Namrah remarked that outsiders rarely get the whole picture when it comes to a person’s actions. She added maybe it was Ramsha’s own decision. Talking about the speculations of Ramsha Khan quitting entertainment after tying the knot with Khushhal Khan, she remarked. “If a woman decides to step away from work, it’s not necessarily the husband or the family that is to blame for that.

She also named actress Iqra Aziz who has done lesser assignments after she became a mother. “Such decisions are personal and should not be automatically associated with pressure from family members,” said Namrah.

Commenting on musician Falak Shabir’s criticism for his comments on advocating modest dress codes, Namrah suggested perhaps the singer’s opinions were misconstrued. There was a better way to get the word across, she felt, but she didn’t feel his intentions were bad.

Namrah also commended Sarah Khan and said she is one of the most graceful and renowned actors in the profession. But she said her familial upbringing instilled morals and conduct in her and Sarah always ‘held herself with dignity’.

The actress said people should be wary about speculating on celebrity marriages and personal lives, because the public sometimes forms opinions based on inadequate information.

The interview also covered Namrah’s acting career. She remembered being offered a role in the drama Aik Aur Pakeezah, where she was to perform fully in Saraiki.

Initially, she was not sure about taking up the task and was motivated by actor Saqib Sameer to take up the part. The experience helped her grow as an actress and became a significant milestone of her career, said Namrah.

Continue Reading

Trending