MANAMA: The Premier yesterday urged calm in the face of a GCC and global credit crunch. He called for national principles to be maintained and a unified stance taken to protect economies. Prime Minister Shaikh Khalifa bin Salman Al Khalifa was speaking at his court after receiving top officials, scholars, intellectuals and media leaders.

He said he was confident that Bahrain, under the leadership of His Majesty King Hamad, was capable of dealing with challenges imposed by global circumstances, especially economic ones.

The Premier hailed the efforts and initiatives adopted by religious scholars for preserving national unity and social cohesion which had positive influence on strengthening bonds in the Bahraini community whose diversity has become a trait bringing its members closer and boosting their sense of belonging to this land.

The Premier said that the current global economic crisis had become a source of concern for the whole world, which by being more interconnected had made financial institutions more susceptible to economic fluctuations. Even though some countries were not directly affected, taking precautions would have its impact on their development, he said.

He asserted that it was important that Gulf states have a unified stance to deal with this crisis, adding that he was confident that the GCC would be able to effectively co-operate and protect their economies.