Iran offers rare glimmer of hope as $100 oil looms

Earlier this month, JP Morgan warned that Brent could rise to $125 per barrel. Oil prices are on track for their biggest monthly gain in almost a year following a series of retaliatory attacks by Yemeni forces in the UAE and Saudi Arabia. On Moday, Brent crude rose 66 cents, or 0.7%, to $90.69 a...

Guterres calls for urgent cash injection into Afghan economy

The UN Secretary-General António Guterres says liquidity must be injected quickly into Afghanistan�s economy in order to prevent it from collapsing. In a tweet on Sunday, Guterres said that Afghanistan�s economy is on a downward spiral and on the brink of collapse. Emphasizing the need to...

China January factory activity growth slows, demand wanes as COVID surges

China reports continued growth in manufacturing but at a slower pace amid COVID surge in January. Growth in China�s factory activity slowed in January as a resurgence of COVID-19 cases and tough lockdowns hit production and demand, but the slight expansion offered some signs of resilience as the world�s...

EU threatens to halt Nord Stream 2 & cut Russia off from SWIFT

© Getty Images / iantfoto Russia could be disconnected from SWIFT and Nord Stream 2, says senior Eurocrat The EU is discussing the possibility of excluding Russia from the SWIFT international bank payment system and completely putting a halt on the Nord Stream 2 gas pipeline if Moscow launches...

Iran says March-December imports included $70mln worth of shipments from US

Figures show US exported nearly $70 mln worth of goods to Iran in the three quarters to late December. Figures published by the Iranian trade and customs bodies show that imports into the country in the three quarters to December 21 included nearly $70 million worth of shipments from the United States. A...

Iran, Russia to ditch dollar in bilateral trade

Ebrahim Rezaei, Chairman of the Iran-Russia parliamentary friendship group Chairman of the Iran-Russia parliamentary friendship group says that Tehran and Moscow have reached good agreements in various fields. Ebrahim Rezaei told local media on Sunday that in the field of energy, the two sides agreed...

2 Weeks to Decide Fate of Frozen Afghan Funds: US Judge

The Islamic Emirate takeover of Afghanistan and the ensuing humanitarian crisis has kicked off an international debate about what to do with billions of dollars of frozen Afghan government assets held abroad, predominantly in the United States. US judge Sarah Netburn gave the US Justice Department...

US state may make bitcoin legal tender

© Getty Images / alicemoi Arizona Senator pitched a bill to legalize the token, in breach of Constitution US Senator Wendy Rogers has introduced a bill to make bitcoin legal tender in Arizona this week. With the bill, SB 1341, the Senator is seeking to amend the list of currently accepted legal...

Low-income, well-off Britons face similar inflation rates, data shows

People walk at Oxford Street, as COVID-19 restrictions ease, in London, Britain, on April 12, 2021. (Photo by Reuters) ll Britons, including both low- and high-income households, have experienced "similar annual inflation rates" since 2014 despite different spending patterns, a new study has found. An...

Biden administration briefs US banks on Russian sanctions: Report

Senior Biden administration officials talked to Citigroup, Bank of America, JP Morgan Chase and Goldman Sachs about possible sanctions against Russia amid Washington�s claims that Moscow is preparing to invade Ukraine, according to reports. The administration of US President Joe Biden has spoken with...

US economy grows 6.9 pct annually in Q4 with dim outlook for Q1 /Video

The U.S. economy grew at an annual rate of 6.9 percent in the fourth quarter of 2021, according to the first estimation of the U.S. Commerce Department on Thursday, putting the annual growth for 2021 at 5.7 percent, the highest since 1984. Analysts pointed out that the better-than-expected growth...

EU & UK planning massive sanctions against Russian gas

FILE PHOTO. © AFP / TOBIAS SCHWARZ The measures would come into effect if Russia invades Ukraine Sweeping sanctions are reportedly being developed which would hit the Russian energy sector if Moscow orders an invasion of neighboring Ukraine, with the EU and the UK said to be drawing up plans...

US bans telecom giant over spying concerns

© Getty Images / Darren Robb China Unicom has been forbidden from providing services in the US US telecom regulator the Federal Communications Commission (FCC) announced on Thursday that it had voted unanimously to revoke authorization for China Unicom�s American unit to operate in the United...

Iran halts gasoil exports amid surge in demand in electricity sector

Iran stops exports of gasoil as demand in power plants reached record levels. A National Iranian Oil Company (NIOC) official says gasoil exports from the country have stopped amid a surge in demand for the fuel in power plants where natural gas supplies have dwindled during the current cold season. NIOC�s...

India to launch new shipping line to Iran�s Chabahar next month

India is developing two berths at the Shahid Beheshti port of Chabahar. A new direct shipping route between Iran�s southeastern port of Chabahar and Indian ports of Nhava Sheva and Kandla will open next month with the arrival of a container service at Shahid Beheshti port, an Iranian official says. India...

Iran mobile phone imports at $2.9bn in March-December: IRICA

Iran�s customs figures show mobile phone imports topped $2.9 billion in three quarters to December. Figures by the Iranian customs office (IRICA) show the country imported nearly $3 billion worth of mobile phones in the nine months to December 21 as shipments accounted for 8% of the value of total...

ADB Approves $405M in Grants for Afghanistan

The Asian Development Bank (ADB) said on January 25 that it has approved $405 million in grants to support food security and help sustain the delivery of essential health and education services for the Afghan people. Under its Sustaining Essential Services Delivery Project (Support for Afghan People),...

Iran faces blackout risk

Vari village in Sari, Mazandaran province. Gas demand is surging in Iran as people turn up heaters to cope with cold winter temperatures. The blast of cold that has swept across Iran since last week has pushed domestic gas consumption to a peak of 700 million cubic meters per day and broken the record...

Iran agrifood exports at nearly $3.9bn in March-December

Iran�s exports of agrifood amounted to nearly $3.9 billion in the nine months to December 21. Iran exported nearly US$3.9 billion worth of agrifood products in the nine months to December 21, according to figures provided by a senior official at the country�s agriculture ministry (MAJ), as the government...

Afghan Exports Stalled By Lack of Air Transit: ACCI

Officials from the Afghanistan Chamber of Commerce and Investment (ACCI) said that currently flights via air corridors have been suspended and there are only cargo flights via air corridor to China. According to ACCI officials, the suspension of flights via air corridors has created challenges in...

Iran issues permit for transit of diesel to Afghanistan

Iranian government officials have announced that Tehran has issued a three-month permit for the transfer of diesel to Afghanistan, Hassan Kazemi Qomi, Special Representative of the President of Iran for Afghanistan, tweeted on Saturday. He said the move was made following a request from Islamic Emirate...

US stocks fall again, sending Nasdaq nearer to dreaded �bear� market

Wall Street stocks tumbled again Friday following a plunge in Netflix shares that sent the Nasdaq further into correction territory. (Photo by Getty Images) ) Wall Street stocks tumbled again Friday following a plunge in Netflix shares that sent the Nasdaq further into correction territory, spurring...

Iran resumes exporting gas to Turkey after short suspension

The file photo shows pipeline carrying Iranian gas to Turkey. Iran has resumed exporting gas to Turkey which has been suspended due to a technical fault. "Gas exports to Turkey, which had been suspended yesterday following a gas leak at a station on the Turkish side, have resumed," the Iranian Oil...

China reports first official oil imports from Iran in a year despite US bans

Tugboats dock the oil tanker "Daniel" carrying crude oil imported from Iran at the Port of Zhoushan in Zhoushan city, east China�s Zhejiang province, 8 March 2018. (Photo by AP) Latest data from the General Administration of Chinese Customs show the country�s first official oil imports from Iran in...

White House warns chip industry to be ready for potential Russia export curbs

President Joe Biden holds a chip as he speaks prior to signing an executive order aimed at addressing a global semiconductor shortage, in the State Dining Room at the White House in Washington, US, February 24, 2021. (Reuters photo) The White House has reportedly warned the American chip industry...

EU Launches Projects in Afghanistan Worth �268M

The European Union has launched multiple projects in Afghanistan amid a dire economic situation in the country to prevent deterioration of the situation and also to help Afghan people cope with current problems, the organization said on Tuesday. The European Commission on Tuesday said the newly launched...

ILO estimates underscore Afghanistan employment crisis

Job losses in Afghanistan following the change in administration in August 2021 totaled more than half a million in the third quarter and may reach 900,000 by mid-2022, according to new estimates released by the International Labour Organization (ILO). According to the ILO, the estimated 14% loss...

UN to Ask $8 Billion From Donors for Afghan Crisis: Lyons

The UN top envoy in Afghanistan said that the organization is working on a proposal to urge donors to provide eight billion dollars in aid for Afghanistan. Talking at a gathering at the Arg (the presidential palace) on Wednesday in Kabul, Deborah Lyons, the UN Secretary General�s Special Representative...

EU launches humanitarian projects in Afghanistan worth over $300 million

In a bid to address the major humanitarian crisis Afghanistan is facing, the European Union has launched projects worth €268.3 million ($304 million) that focusses on maintaining education, sustaining livelihoods, and protecting public health. According to a statement issued by the UN, the funding...

Tesla investors demand billions from Elon Musk

© Getty Images / Bill Pugliano Shareholders angry over SolarCity deal want CEO to pay up $13 billion Tesla investors on Tuesday asked a judge to order Elon Musk to repay the electric carmaker for the 2016 acquisition of solar panel producer SolarCity. The company has been integrated and reorganized,...