Iran Financial News

Mint on the impact of climate change in the Asia Pacific region. India accounts for most of the economic and human losses in South Asia region.

Taliban in Kabul, the next UN meeting on Afghanistan, and ways to stop terrorism originating from the Af-Pak and Eurasia regions. Senior Russian diplomat and President's special envoy on Afghanistan Zamir Kabulov and JP Singh, JS (Pak-Afghan-Iran) MEA met here to discuss Afghanistan's current situation, Taliban engagement, Daesh/ISIS threats, and narcotics trafficking, according to people familiar with the issue. While Singh visited Kabul sometime ago, Kabulov was there in April to meet the entire Taliban leadership. Kabulov, a former envoy to Kabul, is regarded as one of the world's foremost authorities on Afghanistan. According to ET, the purpose of the meeting on Wednesday was to discuss the notes from these visits and come to a consensus regarding Afghanistan under Taliban.

US warned of a “potential risk of sanctions" following India's 10-year agreement to operate the Chabahar Port in Iran, External Affairs Minister S. Jaishankar highlighted that the project will “benefit the entire region".

sanctions" after India inked a 10-year agreement for running the Chabahar Port in Iran, External Affairs Minister S Jaishankar emphasised that the project will benefit the entire region and people should not take a «narrow view» of it. He also pointed out that the US itself had appreciated the larger relevance of Chabahar in the past. The EAM was speaking at an interaction after the launch of the Bangla edition of his book 'Why Bharat Matters' in Kolkata on Wednesday.

Mint takes a closer look at what it means for India. India and Iran signed a long-term contract for the development of Chabahar Port during shipping minister Sarbananda Sonowal’s visit to Iran. Signed by Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation of Iran, the agreement allows the Shahid Beheshti terminal at Chabahar Port to operate for 10 years.

will give a boost to regional connectivity and India's linkages with Afghanistan, Central Asia and Eurasia," the Ministry of External Affairs said on May 13. According to Iran's Ministry of Roads and Urban Development, the deal will give India 10-year access to use the port, located close to Iran's southeastern border with Pakistan.

Vladimir Vladimirovich Putin will pay a state visit to China from May 16 to 17," Shina Foreign Ministry Spokesperson Hua Chunying announced on Tuesday. According to reports, Russia also confirmed the trip and said Putin was going on Xi's invitation. The Kremlin was quoted by PTI as saying that this will be Putin's first foreign trip since he was sworn in as president and began his fifth term in office.

ANI reported. In response to a question over India’s deal with Iran on the strategic Chabahar port, Vedant Patel said that US sanctions on Iran remain in place and the US will continue to enforce them.

India signed an agreement to operate the Chabahar Port in Iran for 10 years, the United States has warned that «anyone» considering business deals with Tehran needs to be aware of the «potential risk of sanctions.» The US State Department Principal Deputy Spokesperson, Vedant Patel, however, also said that it will let the Indian government speak on its foreign policy goals. «We are aware of these reports that Iran and India have signed a deal concerning the Chabahar Port, I would let the government of India speak to its own foreign policy goals, vis-a-vis the Chabahar Port as well as its own bilateral relationship with Iran,» Vedant Patel said in the press briefing on Monday (local time).

India and Iran signed a 10-year contract on Monday for the management of Chabahar port, putting the seal on what’s envisaged as a gamechanger in regional connectivity, rivalling China’s Belt and Road Initiative and being an alternative to Gwadar port in Pakistan. Shipping minister Sarbananda Sonowal travelled to Tehran for the signing of the new 10-year contract between India Ports Global Ltd (IPGL) and Ports & Maritime Organisation of Iran (PMO). ET was the first to report on the new Chabahar contract in its May 13 edition. Under the contract, IPGL will equip and operate the port for the duration of the contract. At the end of the 10-year period, both sides will extend their cooperation in Chabahar. IPGL will invest about $120 million in equipping the port, officials said. India has also offered a rupee credit window equivalent to $250 million for mutually identified projects aimed at improving Chabahar-related infrastructure, they said.

When Iran shot off rockets at Israel, analysts across the world waited with bated breath in anticipation of an oil-price spike. Some expected crude oil to cross $100 per barrel within days and hurt a global economy already reeling from supply chain bottlenecks. The ‘First Oil Shock’ of 1973 was recalled, when an Arab oil embargo disrupted Western economies.

Iran-based Houthi rebels launch drone attack on 4 ships in Indian Ocean, Red Sea He reiterated that in 2019, saying that building and stockpiling nuclear bombs was "wrong and using it is haram", or religiously forbidden. But Iran's then-intelligence minister said in 2021 that Western pressure could push Tehran towards nuclear weapons.

saffron supplies from Iran amid increasing geopolitical tensions in West Asia is benefitting Indian producers and traders of the spice, one of the costliest in the world. Prices of Indian saffron, which is cultivated in parts of Jammu and Kashmir, have increased by more than 20% at the wholesale level and about 27% in retail stores in the past month, producers and traders said. The best quality Indian saffron is now selling for Rs 3.5-3.6 lakh a kg in the wholesale market, compared with Rs 2.8-3 lakh before the start of the latest strife in West Asia, they said. It can cost as high as Rs 4.95 lakh a kg in retail, or the price of nearly 70 grams of gold at Friday’s rate of Rs 72,633 for 10 grams.

tariff concessions under its proposed free trade agreement (FTA) talks with the five-member Eurasian Economic Union (EAEU). Engineering goods, electronics and agriculture are expected to benefit from the agreement and the government asked the industry to identify restrictions, if any, that they face in the five members of the EAEU including Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. «The two sides have met and discussed initiating formal talks for the pact,» an official said, adding that in the light of this development, inputs have been sought from industry on barriers and products in which the country wants to achieve self-reliance. New Delhi's concerns stem from the fact that India's exports to the union in April-January FY24 were $3.7 billion while imports were $51.7 billion due to crude oil imports from Russia. Moreover, the bloc has signed free trade pacts with China, Vietnam, Serbia and Iran, which could impact Indian industry's competitive position in any of the EAEU markets.

Lounge. “When I play abroad, people just want to know how India has so many players coming up. Everybody is curious; I think there is a little fear as well.

Yemen’s Houthi rebels have claimed responsibility for two missile attacks in the Gulf of Aden on two Panama-flagged container ships that caused no damage

diplomatic breakthrough, five of the Indian sailors on board an Israeli-linked vessel seized by Tehran were released on Thursday and have departed from Iran, the Indian embassy in Iran said. The Indian Embassy, while sharing details of their release, thanked the Iranian authorities for their close coordination with the Embassy and Indian Consulate in Bandar Abbas. «5 of the Indian sailors on MSC Aries have been released and departed from Iran today evening. We appreciate the Iranian authorities for their close coordination with the Embassy and Indian Consulate in Bandar Abbas, MEA official spokesperson Randhir Jaiswal posted on X.

Also Read: IAF Convoy Attack Highlights: 1 soldier killed after terrorist attack IAF convoy in J&K's Poonch; search on On Tuesday, two terrorists, including wanted terrorist of Lashkar-e-Toiba Basit Dar, were killed in an encounter in the area. The third terrorist was killed in the Redwani Payeen area on Wednesday.

TikTok and its Chinese parent company, ByteDance, are suing the U.S. government over a law that would ban the popular video-sharing app unless it’s sold to an approved buyer

Putin began his fifth term Tuesday as Russian leader at a glittering Kremlin inauguration, setting out on another six years in office after destroying his political opponents, launching a devastating war in Ukraine and concentrating all power in his hands. Already in office for nearly a quarter-century and the longest-serving Kremlin leader since Josef Stalin, Putin's new term doesn't expire until 2030, when he will be constitutionally eligible to run again.

Indian crew on board, west of Beypore off the coast of Kerala late on May 05, 2024, the Indian defence ministry said, adding that the swift sea-air coordinated operation involved the ships and aircraft of the ICG. Taking to the microblogging platform (formerly known as Twitter), the Indian Coast Guard posted," In a swift sea-air coordinated operation intercepts & detains #Iranian fishing vessel in #Arabian sea west off #Kerala coast with 06 #Indian crew employed on contractual basis at Iran. Crew alleges exploitation & mistreatment by the boat owner.