Dubai's economy is bouncing back with latest trade figures revealing that Dubai's trade grew exponentially to over 1.32 trillion dirhams (about US$ 362 million) in 2013, leading to a growth of about 7.6%. Regarded to be one of the richest...
Despite the presence of so many transnational problems, Iran’s nuke program and the Syrian dilemma are by far the most controversial issues on the international political theater. Navigating away from discussing over again the machinated failure of the international...
EU, US firms set to regain lost Iranian trade on the back of temporary trade relief. The West may have singled out Iran's automotive and aviation sectors for temporary sanction relief, but a much wider group of European and U.S....
While news about Iran's alleged nuclear ambitions are aplenty on various media channels, it's not often we hear about the health and well-being of Iranians. A new study, titled 'Iranian Health and Well-being' was conducted by Chimigi, Iran's first online...
Tehran is going to keep on producing uranium enriched to a 20 percent purity level in reaction to the demands of  Western countries. This was disclosed by Fereydoun Abbasi, Director of Atomic Energy Organization of Iran. It is worthwhile pointing...
Iran recently made a purchase of 11 Airbus A320 and A310 passenger planes which are on the verge of joining the country's aviation fleet, the country's semi-official news agency quoted a minister as saying on Sunday. "The 11 passenger planes which...
Diplomatic sources told Reuters on Thursday the European Union is considering a ban on Iranian gas imports into Europe as part of its efforts to ratchet up pressure on Iran over its nuclear programme. EU member states are said to...
European traders said on Wednesday Iran's state grains agency has discreetly purchased around 400,000 metric tons of milling wheat during the past week largely from the European Union, Baltic Sea and Black Sea regions, with some traders expecting up to 500,000 metric...
Iran's central bank has threatened to close its Korean currency-based transaction settlement accounts opened at two South Korean banks amid a spat over higher deposit rates on the accounts, sources said Thursday. According to industry sources, Iran has notified two local...
Saudi Arabia, Russia and Venezuela are emerging as the major beneficiaries of the recently imposed EU-led sanctions on Iran's oil exports, exporting about 21% more crude to Asia's biggest buyers compared to a year ago. Reports said China, Japan, South...
Iran Khodro, Iran’s main automobile company, announced on Wednesday it has the full capacity to cope with French car maker Peugeot's decision to halt exports of vehicle kits for assembly, reports coming from Tehran said. Ahmad Nematbakhsh, secretary of Iranian Automakers Association,...
Iran announced the launching of the first domestically-produced aframax oil tanker on Tuesday, part of its programme to counter US-led Western sanctions which aim to target oil exports and restrict its maritime trade. The Fars news agency reported that the oil...
An Iranian military commander on Monday said Tehran would not close the Strait of Hormuz as long as it is able to use the vital shipping line itself, watering down threats made by politicians to block the waterway as retaliation for...
A scathing US Senate report revealed on Tuesday that a 'pervasively polluted' culture at HSBC Holdings Plc allowed 'dodgy clients' from the world’s most dangerous and secretive corners including Iran, Mexico, the Cayman Islands, Saudi Arabia and Syria, to route shadowy funds. The...
The South Korean government is considering an offer made by Tehran that would allow the delivery of oil on Iranian tankers, effectively bypassing the US-led Western sanctions, Reuters reported. Iran is finding it hard to maintain significant levels of oil exports,...
New Delhi allowed its state-run insurers to provide limited cover to Indian ships transporting Iranian oil, paving way for refiners to receive uninterrupted supplies from Tehran. India's Insurance and Regulatory and Development Authority (IIRDA) announced state-run insurers can replace their...
Switzerland announced on Thursday it will not follow European Union sanctions on Tehran and carry on trading Iranian oil for "foreign policy reasons". Reports said Switzerland is one of the top hubs for physical oil trading and hosts a branch...
Iran has convened a meeting with world powers in Istanbul in search of a diplomatic solution to the nation’s nuclear work. The Islamic Republic considers the international sanctions that target its energy and finance industries as 'illegal and irrational'. The...
The start of the week saw the EU sanction being put in place against Iran and that was just a precursor of the events that were to follow. This week is considered important, if not huge, for the crude oil...
DVD Review: This Is Not A Film (2011) – Iran, Farsi language, 75 min. by David Calleja What do you get when two directors get bored and cannot agree on what they want to do? They record each other filming and...
Iran faces oil export loses after the EU sanctions entered into full force on Sunday, pushing up oil prices as some exemptions on  contracts and insurance ended. There is also pressure on the Gulf nation to stop the nuclear-enrichment...
An Iranian newspaper report claimed US sanctions against Iran will force UAE to shut down its Jebel Ali refinery which uses only Iranian condensate as feed. Citing diplomatic and industry sources, Tehran Times said Dubai's national oil company may have to stop importing...
Iranian Oil Minister Rostam Qasemi sought to downplay a European Union embargo on country's oil that came into effect on Sunday, insisting Tehran has stored up imports and hard currency for a "battle" against "dastardly" Western sanctions. Iranian Vice President Mohammad Reza Rahimi announced the...
Iran's top Asian buyers cut down imports by more than a quarter of a million barrels per day in the first five months of the year in order to shield from US-led Western sanctions that come into effect from...
Iran received a massive boost on Wednesday when two of its Asia's four top buyers said they will keep importing crude by finding out ways around an EU ban on insuring tankers carrying Tehran's oil. The Japanese parliament has approved...
The International Energy Agency said on Wednesday Iran's oil exports plummeted by an estimated 40% since the start of the year as US-led sanctions hit the country's vital oil industry. The IEA, which represents the interests of major consuming nations, said...
Reports coming from Turkey suggest it has steeply cut oil imports from Iran in May and June in order to avoid US sanctions. The Anatolian nation's official trade data showed stubbornly high imports in April. Analysts believe Ankara's decision to...
Iranian Energy Minister Majid Namjou announced on Thursday the cancellation of a $2 billion deal with a Chinese contractor to construct a hydroelectric dam and ceded it to its Revolutionary Guard Corps, official news agency Mehr reported. Iranian President Mahmoud Ahmadinejad is due...
South Korea imported more Iranian oil in April prior to the embargoes imposed by the US and Europe that come effective in June and July respectively. According to Korea National Oil Corp, a state-run institution, Seoul imported a total of 25.25...
The ruler of Fujairah has told a foreign news agency that the strategic oil pipeline bypassing the Strait of Hormuz will be operational by next month. "The pipeline will be operational in June," Sheikh Hamad bin Mohammed Al-Sharqi, whose east-coast...
The government of Japan is considering proposals to provide cover for tankers bringing in Iranian oil once a European Union ban on insurance takes effect in July, Japanese officials said on Wednesday. Japan has been lobbying the EU to seek...
Iran announced it has plans to build a new oil terminal bypassing the strategic Strait of Hormuz to boost shipments of Caspian oil, oil ministry news website, Shana, said on Monday. It also quoted Pirouz Mousavi, the head of the Iranian...
The government of Iran on Sunday revised and approved its annual budget taking into consideration the rise of oil prices that have appeared to mitigate the impact of US-led sanctions on its economy. The Islamic Republic's elite Guardian Council gave...
Gold transactions between Turkey and Iran soared over 30 times in March as Iranians are turning to gold for savings and trade amid tightening Western sanctions. The US and its allies have imposed sanctions on the Islamic Republic in a...
A top Dubai official has said the emirate's economy has felt only a modest impact on trade from international sanctions against Iran so far. "It's still moderate in terms of trade but we are closely watching the number how it is affecting...
The Emirate of Fujairah, home to the Middle East’s biggest ship-refuelling centre, will be paying a high cost due to the sanctions imposed on Iran, Barclays' analysts wrote in a research report. Miswin Mahesh and Amrita Sen disclosed in their findings...
A top Indian shipping executive, along with other industry sources, said firms will continue to ship Iranian crude despite limited insurance coverage. European Union imposed tough new sanctions, effective from 1 July, on Iranian oil exports that also ban EU insurers...
Iran's state-controlled media reported that the country's oil industry has been the victim of a major cyber attack on Sunday. The Mehr news agency reported Monday the Iranian oil ministry and the National Iranian Oil Company and a number of other companies associated...
Spanish foreign ministry announced on Tuesday Madrid has stopped importing Iranian oil "at the end of February" in lieu of the European Union embargo. "We haven't imported Iranian oil since the end of February as businesses have diversified their buying...
The Islamic Republic of Iran has announced it will introduce the first phase of its domestic Internet network by 21 May. The state-run Fars news agency quoted Iranian Minister of Communication and Information Technology Reza Taghipour as saying that the...