Connect to share and comment

Iran stresses expansion of trade relations with Pakistan

April 3, 2013 12:05
Deputy Head of the Trade Promotion Organization of Iran (TPOI) for Marketing Affairs, Reza Towfiqi Zavareh has stressed on expansion of trade relations with the regional countries including Pakistan by boosting role of free trade zones. Addressing local officials in Chabahar city, he noted that Chabahar Free Trade Zone is one of the most strategic free trade zones which can have a great effect on expansion of trade among regional countries and in particular between Iran and Pakistan, media quoted. Pointing to the recent talks between Iranian and Pakistani officials about the de

Cement industry still not able to utilize idle capacity

April 3, 2013 11:31
Cement industry has been experiencing mixed fortunes and still faces dilemma how to utilize its idle capacity as it grapples with high domestic costs and erratic domestic and export markets. “We are in a fix as the healthy increase in exports in February and March was accompanied with only marginal growth in domestic cement dispatches,” said a spokesman of All Pakistan Cement Manufacturers Association. He said the month of March 2013 is remarkable as the industry dispatched ever highest quantum in its history.

Iran sanctions, RG steel bankruptcy sink UK steel trader Balli

April 2, 2013 11:46
By Silvia Antonioli LONDON (Reuters) - Trade sanctions against Iran and the bankruptcy of U.S. steelmaker RG Steel were among the troubles that forced London-based commodities trader Balli to enter administration, industry sources said. Privately owned Balli Group plc and two of its affiliates entered administration on March 20, with Deloitte LLP appointed as administrators.

Three small Spanish banks post multi-billion euro losses

March 27, 2013 16:30
MADRID (Reuters) - Three small Spanish banks reported multi-billion euro losses on Wednesday, showing the scale of the country's problems with its property market. The three banks - Banco CEISS, BMN and Caja 3 - which have all been rescued by the government, had to take big write-downs on bad property loans and assets. Spain has forced its banks to recognise their property losses to try to clean up the sector after the country's property boom collapsed in 2008.

U.S. Senate shows united support for blocking Iran access to euros

March 25, 2013 13:16
WASHINGTON (Reuters) - The U.S. Senate showed strong support over the weekend for blocking Iran's access to euros, as Congress continues to push for additional measures to choke funding to Tehran's nuclear program. The Senate unanimously passed a non-binding amendment to the budget plan early on Saturday that seeks to stop Iran from using a loophole allowing it use the European Central Bank's interbank payment system to gain access to euros.

U.S. urges EU action to overcome Iran sanctions court appeals

March 25, 2013 13:16
By Justyna Pawlak BRUSSELS (Reuters) - The United States is concerned Iranian appeals to European courts could loosen sanctions against Tehran, said a State Department official on Monday who urged the EU to urgently find a way to allow judges to examine secret intelligence evidence. Europe's General Court told EU governments in January to lift asset freezes against Bank Mellat and Bank Saderat, two of more than a dozen Iranian banks which the European Union says are helping finance Tehran's nuclear programme.

Deutsche Bank braced for £256 million Iran sanctions charges - report

March 24, 2013 10:00
FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> is bracing for more than 300 million euros (256 million pounds) in charges linked to suspected violations of U.S. sanctions on Iran, a German weekly reported on Sunday. Deutsche Bank, Europe's biggest bank by assets, on Wednesday increased its provisions for litigation by 600 million euros to 2.4 billion euros, citing mortgage-related lawsuits and other regulatory investigations.

U.N. keeps focus on Iran human rights in run-up to election

March 22, 2013 14:17
GENEVA (Reuters) - The United Nations agreed on Friday to keep investigating reports of human rights violations in Iran, a move welcomed by activists who report a crackdown ahead of presidential elections. The U.N. Human Rights Council overwhelmingly voted to give its special rapporteur on the situation in Iran, Ahmed Shaheed, another year to carry out his work.

air traffic-February

March 20, 2013 22:16
SEOUL, March 21 (Yonhap) -- International air passenger traffic to and from South Korea surged to a record high in February on a large increase in the number of visitors coming from China, the government said Thursday. The number of people coming to and from South Korea on international flights reached 4.02 million last month, up 7.3 percent from the same month last year, according to the Ministry of Land, Transport and Maritime Affairs.

Iranian bank challenges sanctions in Britain's Supreme Court

March 19, 2013 10:46
By Estelle Shirbon LONDON (Reuters) - An Iranian bank appealed to Britain's Supreme Court on Tuesday against sanctions imposed on it by the British government in 2009 over alleged links to Iran's nuclear programme. Bank Mellat, Iran's biggest private sector lender, wants the sanctions lifted on the basis that the government has failed to provide evidence of a connection between itself and Tehran's nuclear activities.
Syndicate content