India to fully operationalise Chabahar port soon, says Gadkari

Iranian bank branch to open in Mumbai for related transactions India is hopeful to fully operationalise the strategic Chabahar port in the Sistan-Balochistan province of Iran, and the government has allowed an Iranian bank to open a branch in Mumbai for related transactions, Union Minister Nitin Gadkari said on Tuesday. Mr. Gadkari, after Iran’s Minister of Foreign Affairs Mohammad Javad […]

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Iran Is in Talks With Taliban as U.S. Plans to Limit Role

Iran is holding talks with the Taliban to help address Afghanistan’s security challenges, said a representative to Iran’s Supreme Leader Ayatollah Ali Khamenei, asserting a role in the country’s future just as the U.S. weighs cutting back its involvement. “All interactions and talks with the Taliban were done with the knowledge of the Afghan government and this process is ongoing,” […]

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Iran says private exporters had no problem selling its oil

DUBAI (Reuters) – Iran said on Wednesday private exporters have had “no problems” selling Iranian oil, and 3 million barrels of crude could be sold soon to non-government traders, state media reported, despite U.S. sanctions targeting Tehran’s oil sales. Iran began selling crude oil to private companies for export in late October, just ahead of U.S. sanctions on sectors including […]

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OPEC has shown it can reach deal despite splits: Iran oil minister

DUBAI (Reuters) – Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday for what he said was the producer group’s ability to reach agreement despite intense internal political differences. The Organization of the Petroleum Exporting Countries and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from U.S. President Donald Trump to reduce […]

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Iran executes 'Sultan of Coins' convicted of hoarding

Iran executed the so-called "Sultan of Coins" and his accomplice on Wednesday for hoarding gold coins and other hard currency, signaling zero tolerance as it tries to shore up its currency in the face of an economic crisis. State TV reported that Vahid Mazloumin and his accomplice, Mohammad Ismail Ghasemi, were hanged early Wednesday. They were convicted of manipulating coin […]

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Oil Prices Rise As Saudi Arabia Pledges Supply Cut

Oil prices rose on Monday amid news that Saudi Arabia would reduce crude sales in December to shore up sagging prices. Media reports suggest that other major producers are also considering reductions heading into 2019. Global benchmark Brent crude was up 1.28 percent at $71.08 per barrel while U.S. West Texas Intermediate (WTI) crude futures were up 0.66 percent at […]

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Oil Prices Fall Over 1% To Hit Multi-month Lows

Oil prices fell more than 1 percent on Friday to extend recent losses amid signs of rising global supply and concerns over economic slowdown in the face of a worsening U.S.-China trade war. Global benchmark Brent crude oil fell by 83 cents or 1.17 percent to $69.82 a barrel, while U.S. light crude futures were down 1.24 percent at $59.92 […]

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Stocks Gain, Dollar Flat as U.S. Elections Prompt Investor Caution

U.S. shares rose on Tuesday while the dollar held steady as Americans went to the polls in elections that could shift the balance of power in Congress. Treasury yields rose modestly as more supply came to market and spurred selling. Traders also awaited clues about the Federal Reserve’s potential interest rate increases when policymakers meet on Wednesday and Thursday. Treasury […]

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