16 October 2014 15:44
Global oil prices have dropped to a 47-month low, sending economic and political shockwaves through oil-exporting countries around the world.
The global price of oil now stands at $84 per barrel, about $31 cheaper than its highest price this year.
The current price is nearly 30 percent less than it was earlier this year.
On October 14, the global price of oil witnessed...
13 October 2014 15:25
Hassan Rouhani, who was speaking in the joint government and the parliament session on Tuesday told the meeting that the world should know that the Islamic Republic of Iran’s officials have the ability to solve the issues even under current economic hardships through ‘cooperation and coordination.’
“Positive growth in construction budget, stability in the market, general willingness by foreign investors to...
12 October 2014 11:50
President Hassan Rouhani on Sunday called for foreign investment in Iran's rail transit projects.
He made the remarks in a meeting with the Ministry of Housing and Urban Development officials.
Foreign investors are welcome to invest in construction of Iran's rail transit projects, the president added.
He underlined immediate execution of the Iran-Turkmenistan-Kazakhstan railway as well as the Khaf-Herat railway which will link...
11 October 2014 13:24
Iran’s economy minister said the country’s economy is improving and has been heading in the right direction since the new administration took office in August 2013.
According to Tasnim news agency, heading a high-ranking economic delegation, Iran’s Economic Affairs and Finance Minister Ali Tayyebnia is in Washington for the joint annual meetings of the World Bank Group and the International...
11 October 2014 10:14
Iran Khodro Industrial Group has raised the daily number of cars it manufactures in Iraq to 50 and the figure will climb to around 100 as it plans to increase its personnel working shifts at the request of the Iraqi side, Iran Khodro Company (IKCO) vice-president said.
"Iran Khodro produces a variety of cars such as Runna, Samand, Soren, Peugeot Pars...
9 October 2014 15:24
An American economist has said that the world is in a currency war between the United States, China, Russia, and Japan, questioning the countries’ economic growth.
“The world is unfortunately in a currency war between the US, Japan, China, and Russia, keeping the interest rates very low and increasing the supplies of money and credit beyond normal, sustainable limits,” said Mark...
8 October 2014 22:57
The International Monetary Fund says China has overtaken the United States as the world’s largest economy, according to a report.
The IMF estimates that the size of the US economy is $17.4 trillion, while the Chinese economy comes in at $17.6 trillion, Business Insider reports.
China’s share of the global economy is 16.48 percent, while the United States accounts for 16.28 percent,...
8 October 2014 15:43
Confidence in President Barack Obama’s economic policies has hit a new low since almost fifty percent of Americans showed no confidence in his plans, a new survey indicates.
According to the CNBC All-America Economic survey, 44 percent of Americans say they have no confidence in the president’s economic policies.
Only 24 percent say they are extremely or quite confident in Obama’s plan...
8 October 2014 15:33
French flag carrier Air France says the recent two-week strike by its pilots is estimated to have an impact of about 500 million euros ($632 million) on its 2014 revenues.
The figure includes the lost revenue during the industrial action as well as the cost to its reputation, Pierre-Francois Riolacci, the Air France financial director, said on Wednesday.
“We need a few...
7 October 2014 12:18
British Business Secretary has slammed the Conservatives’ economic plans, accusing Prime Minister David Cameron and his party of lying to voters with their economy vows.
On Monday, Vince Cable rejected as a lie the promises by the Tories to cut taxes and at the same time reduce the national deficit should the Conservatives win next May’s general elections.
“The truth is...
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