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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 |

Iran s electricity exports hit $5b

Iran s electricity exports hit $5b

Deputy Energy Minister Mohammad Behzad announced here on Saturday that Iran s electricity exports have hit five billion dollars since the beginning of the current Iranian calendar year (March 20, 2012).

Economic |

Iran Exports Non-Oil Products to Over 149 Countries

Iran Exports Non-Oil Products to Over 149 Countries

A senior Iranian official underlined Tehran s intention to further reduce its dependence on oil revenues, and said the country is exporting its non-oil products to over 149 world states now.

Economic |

Iran’s private sector to export new oil shipments

Iran’s private sector to export new oil shipments

A senior Iranian energy official says the country’s private sector will soon export several new oil consignments to international markets despite the illegal US-led sanctions against the country.

Economic |

Iran Nano 2012 Exhibit Shows Ineffectiveness of Sanctions against Iran

Iran Nano 2012 Exhibit Shows Ineffectiveness of Sanctions against Iran

The CEO of enablingMNT (www.enablingmnt.com), Henne van Heeren, from the Netherlands underlined that the Iran Nano 2012 festival and exhibition, held in Tehran early October, showed the ineffectiveness of the international and unilateral sanctions against Iran.

Economic |

Iran ranks 1st in terms of blood products safety worldwide

Iran ranks 1st in terms of blood products safety worldwide

Gholamreza Togeh, head of Iran Blood Transfusion Organization, says based on the World Health Organization (WHO) announcement, Iran is among the world’s five top states in terms of high quality and safe blood products.

Economic |

Euro collapse can ignite war in Europe

Euro collapse can ignite war in Europe

British Business Secretary Vince Cable says the collapse of the European single currency has the potential to plunge the continent into war.

Economic |

100pc growth in exports of minerals, construction materials

100pc growth in exports of minerals, construction materials

The southern province of Bushehr has witnessed a 100- percent increase in its exports of minerals and construction materials in the first half of the current Iranian calendar year, started on March 20, 2012, compared to the preceding year, it was announced here on Saturday.

Economic |

IMF says UK cuts cost economy extra £76bn

IMF says UK cuts cost economy extra £76bn

Damage from the British government’s massive austerity cuts to the country’s economy by 2015 will be £76 billion more than previously estimated, the International Monetary Fund (IMF) figures show.

Economic |

Sweden opposes new EU bans on Iran

Sweden opposes new EU bans on Iran

Amid the European Union provisional approval of new embargoes against Iran over its nuclear energy program, the Swedish government is trying to prevent the bloc from imposing further sanctions fearing loss of lucrative deals.

Economic |

EU-NATO war alliance receives Nobel Peace Prize

EU-NATO war alliance receives Nobel Peace Prize

An international lawyer has lashed out at the Nobel Committee for granting its 2012 Peace Prize to the European Union, despite the fact that the bloc is in cahoots with the NATO in the latter s global warmongering policies.

Economic |

World Financial Bodies Weak in Handling Economic Crises

World Financial Bodies Weak in Handling Economic Crises

Iranian Minister of Economic Affairs and Finance Shamseddin Hosseini blamed the world financial and monetary bodies for their weak performance, saying that these centers have proved vulnerable to global financial crises.

Economic |

Leader :

Iranian nation will overcome enemy plots
Leader :

Iranian nation will overcome enemy plots

Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has expressed confidence that the Iranian nation will overcome the plots of the enemies through perseverance and unity.

Economic |

Iran Ups Exports of Steel Products by 14%

Iran Ups Exports of Steel Products by 14%

The value of exports of Iran s steel products witnessed a 14% increase during the first six months of the current Iranian year (March 20 - September 21, 2012).

Economic |

Anti-Austerity Protests Grip 56 Spanish Cities

Anti-Austerity Protests Grip 56 Spanish Cities

Tens of thousands of people marched in 56 Spanish cities Sunday to protest punishing austerity cuts they say will only increase unemployment and job insecurity in a country experiencing its second recession in three years and record high unemployment.

Economic |

Iran sanctions may hit Japanese firms

Iran sanctions may hit Japanese firms

US researchers monitoring activity by multinational companies in Iran say Japanese firms could be affected by unilateral US sanctions against the Islamic Republic over its nuclear program

Economic |

US regulators close five more banks

US regulators close five more banks

The number of US banks closed down has risen to 78 as regulators shut down five more banks, including three banks in Florida, one in California and one in Nevada

Economic |

Iraq, China, Turkey ink oilfield deal

Iraq, China, Turkey ink oilfield deal

Iraq s oil minister says that his country has signed a deal with China s CNOOC and Turkey s TPAO firms to develop a major southern oilfield complex

Economic |

US unemployment rises in 24 states

US unemployment rises in 24 states

Rising unemployment rates have been reported in nearly half of all states in the month of March, according to a US Labor Department report

Economic |

Euro Rises after Greece Debt Deal

Euro Rises after Greece Debt Deal

The euro climbed on Friday, pulling away from recent 10-month dollar lows after the European Union agreed on unprecedented plans to rescue Greece from its debt crisis

Economic |

Nine US banks shut down in 2010

Nine US banks shut down in 2010

Since the beginning of 2010, nine US banks have been forced to close in the toughest economic crisis since the Great Depression

Economic |

Thousands protest against job cuts in France

Thousands protest against job cuts in France

Demonstrators hold a banner displaying a caricature of France s President Nicolas Sarkozy during a protest march by public and private sector workers in Paris, January 29, 2009

Economic |

Islamic banking in the Philippines

Islamic banking in the Philippines

The first and and only Islamic bank in the Philippines, the Al-Amanah Islamic Bank, began its operations in 1973 and was recently bought by the Development Bank of the Philippines

Economic |

US loses 85,000 jobs, jobless rate holds

US loses 85,000 jobs, jobless rate holds

As the sluggish US economy tries to recover, a government report said Friday the economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent

Economic |

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