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Economy

10 December 2017 22:29

  British Foreign Secretary Boris Johnson underscored the necessity for the further expansion of economic ties with Iran, noting that obstacles to bilateral banking relations are being obviated. "The banking barriers are being removed gradually," Johnson said in a meeting with Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi in Tehran on Sunday. He also stressed Iran's important role...

4 December 2017 11:27

  Venezuelan President Nicolas Maduro has announced that his country will be introducing a new cryptocurrency to battle the US financial “blockade.”   "Venezuela will create a cryptocurrency... the 'petro,' to advance in issues of monetary sovereignty, to make financial transactions and overcome the financial blockade," said Maduro in his weekly televised broadcast on Sunday. He added that it will be backed by natural...

3 December 2017 18:34

  Iran has launched the first phase of a strategic southeastern port which it expects to open a multi-modal trade corridor connecting India to Central Asia. The first phase of Shahid Beheshti International Port in Chabahar, Sistan-Baluchestan Province, was inaugurated by President Hassan Rouhani during a ceremony also attended by officials and dignitaries from 17 countries. President Rouhani said during the ceremony that...

3 December 2017 8:54

  Iran says it expects to sign an agreement with Iraq within the next few days based on which it would swap the country’s oil produced in its Kirkuk province with equal amounts in the Persian Gulf.  The announcement was made by Iran’s Petroleum Minister Bijan Zangeneh who said the agreement would be a strategic one. Zangeneh was quoted by domestic media as...

29 November 2017 22:51

  Supporters and opponents of Brexit have reacted angrily to reports that the UK will pay up to 55 billion euros ($63 billion) to exit the European Union, putting pressure on British negotiators before key talks. Brexit negotiators from London and Brussels agreed that Britain will pay between 45 and 55 billion euros, The Daily Telegraph reported Wednesday. But the EU’s chief Brexit negotiator Michel...

27 November 2017 9:03

  The new pipeline, which will replace a severely damaged section of the Kirkuk-Ceyhan pipeline, will start from the city of Baiji and span the Fish-Khabur border area with Turkey. The territory where the Kirkuk-Ceyhan pipeline operated was captured by the Islamic State group in 2014 and retaken by US-backed Iraqi forces over the past two years. Earlier this month Iraq agreed in principle...

27 November 2017 8:57

  Iraq says it plans to hold an international tender for the exploration and development of at least nine oil and gas blocks bordering Iran and Kuwait. Iraq’s Oil Ministry announced in a statement that a press conference would be held on Monday to announce the details of the projects. The Ministry added that the projects were located in the south and east...

25 November 2017 18:45

  Gas exporting countries have condemned the use of sanctions as a weapon against other nations, in an apparent jab at the United States. The Gas Exporting Countries Forum, which has 12 members in the likes of Iran, Russia and Qatar, issued a communiqué at the end of their summit in Bolivia on Friday. Some members of the group such Russia, Iran and...

25 November 2017 12:20

  Vice-President Jahangiri said that Iran’s new Petroleum Contract (IPC) offers a good opportunity to foreign investors to make profitable deals in the country’s fast-growing gas sector. Iran’s first Vice-President Es’hagh Jahangiri addressed the fourth meeting of the Gas Exporting Countries Forum (GECF) in Bolivia on Nov. 24, during which he called on all foreign investors, national and international oil and gas...

23 November 2017 12:30

  A statistical analysis on the consequences of the Brexit vote in the United Kingdom was released on Monday, showing how the referendum outcome has affected inflation and living standards of people across the country. The report, “The Brexit Vote, Inflation and UK Living Standards,” was issued by the Center for Economic Performance under London School of Economics and Political Science.

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