18th May 2016
More than half of global companies interested in doing business with Iran are holding back for fear of running afoul of sanctions that remain in place even after its nuclear deal with world powers, a new survey shows. Read More
17th May 2016
South Korean President Park Geun-hye visited Iran earlier this month, pledging to forge ahead and establish a new era of relations with Tehran built on closer economic cooperation. During the three-day visit, Park and Iranian President Hassan Rouhani agreed to 30 joint economic projects, totaling more than $37.1 billion. The two sides also agreed to more than 50 memorandums of understanding dealing with everything from infrastructure cooperation and joint energy ventures to work on medical and health care projects. Read More
16th May 2016
Washington taking ‘odd position’ by asking Europe’s banks to engage with Iran while restricting US firms from doing so, says bank Read More
16th May 2016
The Egyptian authorities opened the Rafah Border Crossing for two days this week, allowing Palestinians to cross into and out of the besieged Gaza Strip. Difficulties arose, however, in distinguishing between those with urgent travel needs and those whose need is not so urgent, PLS48.net reported on Friday. Read More
12th May 2016
The good times have ended for Indian refiners who were getting crude oil from Iran. Petroleum minister Dharmendra Pradhan today told Parliament that Iran has ended free shipping of crude oil to India and Indian refiners have been asked to arrange their own freight. Read More
12th May 2016
The regulator of Dubai’s financial free zone imposed restrictions on Noyan Ahyan, a former trader at an unnamed company at the Dubai International Financial Center, for inflating the value of his trading book by $11 million to conceal losses. The Dubai Financial Services Authority imposed the restrictions after investigations found… Read More
11th May 2016
Businesses around the world are using the United States as an excuse to avoid doing business with Iran, U.S. Secretary of State John Kerry said Tuesday as he declared the Islamic Republic "open for business" for European banks. Read More
11th May 2016
Frances Guy was close to rolling out a program to feed hundreds of displaced people in war-torn Syria last year. Guy, the Middle East head of Christian Aid, had secured funds and found partners. But there was one obstacle she couldn’t overcome: The charity’s bank, Standard Chartered Plc, refused to transfer $50,000 to put the project in motion. Read More
11th May 2016
The Dubai Financial Services Authority (DFSA) has fined two individuals USD 56,000 (AED 205,520) each for failing to act with due skill, care and diligence, which caused an Authorised Firm to breach the DFSA’s Anti-Money Laundering Rules. Read More
10th May 2016
An IRIN investigation has found that a probe by a US government watchdog into corruption in aid delivery across the Turkey-Syria border runs deeper and involves more NGOs than previously reported. Corrupt sub-contracting and procurement fraud is undermining vital cross-border relief for desperate Syrians. USAID announced on 6 May that it… Read More