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Saudi war brings Yemen’s economy ‘a century’ backwards: Report

Saudi war brings Yemen’s economy ‘a century’ backwards: Report

 Saudi Arabia’s war on Yemen has brought the country’s improvised economy to its knees, forcing the people to use alternative and older technologies, says a fresh report.The report was conducted over a period of several weeks by Middle East Eye (MEE), a UK-based news organization which aims to shed more light on the economies of the Middle East.As Saudi Arabia and its allies continue to destroy millions of dollar worth of vital

Economic |

Iran’s Oil Exports to S. Korea Double in March

Iran’s Oil Exports to S. Korea Double in March

 Iran s crude oil exports to South Korea doubled in March 2015, compared to the same month last year, preliminary customs data released by the East Asian country showed on Wednesday.Seoul imported 570,338 tons of crude oil from Tehran last month, or 134,857 barrels per day (bpd), compared with 274,808 tons a year ago, according to the data.However, Asia s fourth-largest economy brought 1.4 million tons or 114,115 bpd of crude from the

Economic |

‘Shell mulling Iran return after sanctions’

‘Shell mulling Iran return after sanctions’

 The multinational oil and gas giant, Royal Dutch Shell plc is reportedly seeking to return to Iran once sanctions against the country over its nuclear program are lifted.Iranian media reports said Wednesday that the Anglo–Dutch energy company was mulling over investment opportunities in Iran again.Reports said Shell, headquartered in the Netherlands and incorporated in the UK, was already in debt to Iran to the tune of USD2.3 billion over

Economic |

Hopes for deal boosting Iran’s markets

Hopes for deal boosting Iran’s markets

 Growing optimisms over the success of Iran nuclear talks currently underway in Lausanne, Switzerland, have already boosted sentiments in the Iranian financial markets.Robust positive signs have specifically emerged in the Tehran Stock Market where the main index (TEPIX) has now reached 65,099 points. This came on the second of TSE trading in the new Iranian calendar year that started on 21 March 2015. Analysts are speculating that

Economic |

55 Giant Int l Carmakers, Part-Makers to Participate in Iranian Auto Expo

55 Giant Int l Carmakers, Part-Makers to Participate in Iranian Auto Expo

 TEHRAN (FNA)- Secretary of Iran s Second International Auto Exhibition Sasan Qorbani announced that the number of international foreign companies that will take part in the exhibition has considerably increased. "A sum of 55 foreign automakers and part-makers will take part in the exhibition," Qorbani said on Sunday. He noted that the number of foreign guests participating in the event has also increased to 190, and said, "All

Economic |

UK refuses to pay £1.7 billion bill demanded by EU

UK refuses to pay £1.7 billion bill demanded by EU

 The British prime minister says his country will refuse to pay a £1.7-billion bill demanded as budget contribution by the European Union (EU), calling the Union’s behavior “appalling.” "We are not suddenly going to take out our checkbook and write a check for two billion euros (USD 2.5 billion); it is not happening," said David Cameron in a news conference on the sidelines of an EU summit over the member states’ climate

Economic |

Iran Ups Exports of Steel Products

Iran Ups Exports of Steel Products

Exports of Iran s steel products increased by $57mln during the first seven months of the current Iranian year (March 20 - October 21, 2012).

Economic |

Self-sufficiency achieved in veterinary medicine

Self-sufficiency achieved in veterinary medicine

Seyed Mostafa Azizian, General Director of Pharmaceuticals, Medical Treatment and Laboratories Department at Iran Veterinary Organization, said on Sunday that Iran is 95 percent self-sufficient in production of veterinary medicine.

Economic |

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