Iran has announced it is doubling the monthly cash payments to its citizens. The Iranian labour news agency report comes at a time when common Iranians are suffering from soaring inflation and depreciating rial as a result of US-led economic sanctions. Behrouz Moradi, head...
Reports coming from Tehran suggest the Iranian President Mahmoud Ahmadinejad had a telephonic conversation with Omani ruler Sultan Qaboos Bin Said on Wednesday in which both leaders stressed the need for strengthening mutual relations between the neighbouring countries and...
A leading American newspaper cited a classified US war simulation report that said an Israeli attack on Iran would spark a broader regional war involving the United States. The New York Times report said Tuesday the simulation was not considered...
SWIFT, world's largest electronic payment system, this weekend severed 30 Iranian banks that have been blacklisted by the EU under the economic sanctions programme. SWIFT says the 'extraordinary' and 'unprecedented' move will have a deep impact on the Islamic...
A crude oil pipeline bypassing the strategic Strait of Hormuz is almost complete in the United Arab Emirates and will start flowing oil from next month, a Reuters report said Monday. The 480-km pipeline with a capacity of up to...
Iranian Foreign Ministry spokesman warned Sunday cornering his country by US-led coalition will push prices to unsustainable levels and lead to dangerous consequences for the whole world. "As soon as such an issue is raised seriously the oil price would...
Oil prices climbed once again Thursday as talk of Iran invasion gathered pace in the Gulf coupled with better-than-expected stock in the US and stronger economic data emerging from Germany despite Wednesday's bond auction disaster. London's Brent crude oil futures...
Reports released by the International Energy Agency (IEA) last week show Saudi Arabia boosted its crude oil production to 9.8m barrels a day last month. This is the highest amount produced by the Kingdom in the last 30 years. OPEC...