Business

Iran Plays Hardball with European Oil Buyers, Slowing Exports

By Dmitry Zhdannikov and Alex Lawler LONDON, March 9  – Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications and Tehran’s reluctance to sweeten terms to win back customers. Tehran had been unable to

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Indian Farmers See Modi’s Budget As All Promise, No Delivery

By Aditya Kalra and Andrew MacAskill KHANJARPUR, India, March 7 – Farmer Ram Pal Singh voted for Narendra Modi’s promise of “better days” in India‘s 2014 general election, but he won’t be backing the prime minister again even after last week’s budget promised more aid to the countryside. Growing discontent in rural India, home to

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Iran Says European Banks Reluctant to Resume Transactions

By Bozorgmehr Sharafedin DUBAI, March 6 – Iran complained on Saturday that European banks and companies were too wary about renewing business ties following the lifting of economic sanctions and said it had asked the International Monetary Fund (IMF) to ease their concerns. In January, world powers led by the United States and the European

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Oil’s Squeeze Spreads From Gulf States To Banks

By David French and Tom Finn DUBAI/DOHA, March 6 – Low oil prices are forcing Gulf states to borrow to prop up their economies and are now taking their toll on the region’s banks too, complicating their efforts to raise capital required by regulators. The impact of crude’s fall from more than $100 to below

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Syria Divisions Aside, Turkish PM Eyes Closer Ties With Iran

By Orhan Coskun and Tulay Karadeniz ANKARA, March 5 – The first visit by a Turkish prime minister to Iran in two years is unlikely to narrow deep divisions over Syria’s war, but it could boost trade ties as the lifting of sanctions on Tehran and political gains by reformists clear the way for a business boom. Turkey,

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Balancing Act

By Tarek Fadlallah The maxim not to fight the Fed has proved sound so it’s no surprise that investors have been agonizing over the apparent end to easy money and, by implication, the era of central bank-led asset inflation. The Fed’s action to hike its key interest rate in December is perhaps understandable in the

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What The Middle East Must Do to Achieve Its Solar Ambitions

BY Vicente Lopez-Ibor Mayor With the region now increasingly open to the prospect of solar energy, Arab Gulf nations must overcome a number of practical challenges before realizing such a transition. Kuwait and Oman aim to produce 10 percent of their energy from renewables by 2020. Saudi Arabia plans to invest $109 billion on solar

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Lebanon: Seeing the Bigger Picture

Lebanon is in need of urgent economic and political reform. BY Joe Sarrouh The Lebanese banking sector has accumulated, over the years, significant skills in management and operations. This has enabled to it to adapt to the most difficult and often threatening political, economic and security circumstances. Such steadfastness has earned the sector a reputation

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Iran Must Privatize Car Industry: President Rouhani

DUBAI, March 1 – Iran’s car industry must be privatised to meet the government’s goal of turning it into a global competitor, the president said on Tuesday, sending a strong signal of his intention to open up the country’s economy to world markets. Hassan Rouhani said Iranian carmakers, which form the second biggest sub-sector of

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