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Iran, Russia link national payment systems  Iran and Russia linked their national payment systems on Monday, a significant move to bypass the US dollar in bilateral transactions, local media reported.  The linkage between Russia's Mir and Iran's Shetab payment systems was established in a ceremony attended by Governor of the Central Bank of Iran (CBI) Mohammad-Reza Farzin and Iranian Ambassador to Moscow Kazem Jalali, reports Xinhua, quoting Iran's official news agency IRNA. The ceremony unveiled the first ...
Iran, Russia link national payment systems
Iran, Russia link national payment systems
Source: IANS
2024-11-12 05:20:49 pm
Oil prices to spike only with escalation of Middle-East conflict, damage to Iran oilfields Brent crude is projected to continue trading in a broad range of $75-80 per barrel and any spike in oil prices may happen only if the Middle-East conflict escalates and some damage is caused to oil fields in Iran, according to a report on Monday.  Brent is currently trading at $74 per barrel and the market traded most of the time in the lower part of the range. “What instilled in the markets a certain amount of anxiety is the development around the Middle-East conflict. Given...
Oil prices to spike only with escalation of Middle-East conflict, damage to Iran oilfields
Oil prices to spike only with escalation of Middle-East conflict, damage to Iran oilfields
Source: IANS
2024-11-04 02:02:08 pm
Oil falls 3% as concerns ease on potential Iran supply disruption Oil prices slid 3% in early Asian trade on Tuesday after a media report said Israel is willing not to strike Iranian oil targets, which eased fears of a supply disruption, and after OPEC lowered its outlook for global oil demand growth in 2024 and 2025. Both benchmarks plunged 3% in early trade on Tuesday, following a 2% drop on Monday. Brent crude futures were down $2.27 at $75.19 per barrel, while U.S. West Texas Intermediate futures fell $2.22 to $71.60 per barrel as of 0127 GMT. Pri...
Oil falls 3% as concerns ease on potential Iran supply disruption
Oil falls 3% as concerns ease on potential Iran supply disruption
Source: Reuters
2024-10-15 09:17:12 am
Oil prices rise on Israel-Iran conflict fears and U.S. storm Oil prices rose in early Asian trade on Thursday on concerns about potential supply disruptions in the Middle East, with Israel planning to strike oil-producer Iran, and on spikes in fuel demand as a major storm barreled into Florida. Brent crude futures rose 37 cents, or 0.5%, to $76.95 a barrel, while the U.S. West Texas Intermediate (WTI) futures was up 35 cents, also 0.5%, at $73.59 a barrel at 0034 GMT. The world's largest oil producer and consumer has been hit by a second majo...
Oil prices rise on Israel-Iran conflict fears and U.S. storm
Oil prices rise on Israel-Iran conflict fears and U.S. storm
Source: Reuters
2024-10-10 08:58:39 am
Iran urges SCO countries to use its southern ports for faster and cheaper trade Iran's Acting President Mohammad Mokhber on Thursday urged the Shanghai Cooperation Organisation (SCO) member states to use the country's southern ports in the North-South Corridor for faster and cheaper trade with the world.  In his address at the SCO Summit held in Astana, the capital of Kazakhstan, Mokhber stated that since transit and commercial activities are complementary to each other, Tehran suggests the creation of a "joint free zones network" and establishi...
Iran urges SCO countries to use its southern ports for faster and cheaper trade
Iran urges SCO countries to use its southern ports for faster and cheaper trade
Source: IANS
2024-07-05 09:56:51 am
India signs 10-year pact to operate Chabahar Port in Iran India on Monday signed a 10-year contract with Iran to develop and operate the Shahid Beheshti terminal at Chabahar port on Iran's south-eastern coast. The contract was signed in Tehran by India Ports Global Ltd (IPGL) and the Ports and Maritime Organisation of Iran in the presence Union Ports, Shipping and Waterways Minister, Sarbananda Sonowal, the Indian Embassy in Iran posted on X. Under the agreement, government-owned IPGL will invest about $120 million while there will be an a...
India signs 10-year pact to operate Chabahar Port in Iran
India signs 10-year pact to operate Chabahar Port in Iran
Source: IANS
2024-05-14 10:26:47 am
Oil prices surge in global market amid escalating Iran-Israel tensions Oil prices surged by $3 a barrel in the international market on Friday amid reports of Israel launching a missile attack against Iran raising fears of escalating geopolitical tensions that could disrupt crude shipments. The benchmark Brent crude price rose to around $90 a barrel U.S. West Texas hovered at around $85 a barrel. The price of Brent crude had fallen to around $87 per barrel on Wednesday following higher US inventories and the decline in Chinese demand due to a slowing econom...
Oil prices surge in global market amid escalating Iran-Israel tensions
Oil prices surge in global market amid escalating Iran-Israel tensions
Source: IANS
2024-04-19 12:50:59 pm
India says it is ready to mitigate economic impact of Iran-Israel conflict India is prepared to take adequate steps to mitigate any impact of the Iran-Israel conflict on its economy and will "remain alert", Finance Minister Nirmala Sitharaman said on Thursday. "Can't say that we are fully ready. As developments unfold, we are preparing to take adequate steps in India's interests," Sitharaman told the CNBC Awaaz news channel in an interview. The conflict has not yet significantly impacted global oil prices. [O/R] However, any esca...
India says it is ready to mitigate economic impact of Iran-Israel conflict
India says it is ready to mitigate economic impact of Iran-Israel conflict
Source: Reuters
2024-04-19 09:58:48 am
Escalation of Iran-Israel conflict to impact inflation, oil price, interest rates in India: Acuite Ratings & Research The price of crude oil would breach $100, the central bank may delay cutting the repo rate over uncertainty over disinflation, exports to West Asia may be affected and an increase in shipping costs are some of the likely impact if the conflict between Iran and Israel escalates, said a top economist at Acuite Ratings & Research. "With the drone and missile attacks on Israel by Iran, there is a perceptible increase in the geo-political risk quotient, imparting higher uncertainty to ...
Escalation of Iran-Israel conflict to impact inflation, oil price, interest rates in India: Acuite Ratings & Research
Escalation of Iran-Israel conflict to impact inflation, oil price, interest rates in India: Acuite Ratings & Research
Source: IANS
2024-04-19 09:42:06 am
Quote on Iran - Israel War- Update Market impact by Suman Bannerjee, CIO, Hedonova Below the Quote on Iran - Israel War- Update Market impact by Suman Bannerjee, CIO, Hedonova   The escalating geopolitical tensions in West Asia prompted a decline in the 30-share BSE Sensex and the NSE Nifty. While both benchmark indices experienced a notable decline of approximately 1%, they regained some lost ground amid the nervousness in the equity markets. Concurrently, the Indian Rupee faced further depreciation against the US Dollar in the interbank forex market. Market ind...
Quote on Iran - Israel War- Update Market impact by Suman Bannerjee, CIO, Hedonova
Quote on Iran - Israel War- Update Market impact by Suman Bannerjee, CIO, Hedonova
Source: Hedonova
2024-04-15 04:08:14 pm
India cuts floor price for basmati rice exports to revive shipments India has cut the floor price for basmati rice exports to $950 per metric ton from $1,200, a government source told Reuters on Thursday, after farmers and exporters complained it was damaging the trade by stalling shipments. India had imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments in August to keep a lid on local prices ahead of key state elections. The MEP was expected to be cut with the arrival of the new season harvests, but the government said on ...
India cuts floor price for basmati rice exports to revive shipments
India cuts floor price for basmati rice exports to revive shipments
Source: Reuters
2023-10-27 09:10:33 am
India likely to cut floor price for basmati rice exports India is expected to cut the floor price it has set for basmati rice exports, government and industry sources said on Tuesday, after farmers and exporters complained it was damaging trade.The government is likely to bring down the floor price, or minimum export price (MEP) for basmati rice, to $950 per metric ton from $1,200 a metric ton, said the sources, who did not wish to be named because the decision has not been made public.India imposed a $1,200 per ton MEP on basmati rice shipments in...
India likely to cut floor price for basmati rice exports
India likely to cut floor price for basmati rice exports
Source: Reuters
2023-10-24 09:31:46 am
Oil falls as Israel embargo concerns fade, Venezuela sanctions to ease Oil prices fell on Thursday, reversing gains in the previous session, after OPEC showed no signs of supporting Iran's call for an oil embargo on Israel and as the United States plans to ease Venezuela sanctions to allow more oil to flow globally.Brent futures for December fell 74 cents to $90.76 a barrel. U.S. West Texas Intermediate (WTI) futures for November, which expires on Friday, dropped 57 cents to trade at $87.75 per barrel. The more active December WTI was down 51 cents to $86.76 a b...
Oil falls as Israel embargo concerns fade, Venezuela sanctions to ease
Oil falls as Israel embargo concerns fade, Venezuela sanctions to ease
Source: Reuters
2023-10-19 09:03:47 am
Oil nudges lower on hopes of US easing sanctions on Venezuela Oil prices fell slightly on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas.Brent crude futures were down 5 cents at $89.60 a barrel, while U.S. West Texas Intermediate crude (WTI) was down 23 cents at $86.43 a barrel as of 0333 GMT.Venezuela's government and opposition are set to resume long-suspended talks on Tuesday that President Nic...
Oil nudges lower on hopes of US easing sanctions on Venezuela
Oil nudges lower on hopes of US easing sanctions on Venezuela
Source: Reuters
2023-10-17 09:36:18 am
Oil prices fall as investors assess impact of Israel-Hamas war Oil prices fell on Monday, partly reversing Friday's rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy.Brent futures slid 34 cents, or 0.4%, to $90.55 per barrel and U.S. West Texas Intermediate (WTI) crude dropped 41 cents, or 0.5%, to $87.28 a barrel by 0048 GMT.Both benchmarks rose nearly 6% on Friday, posting their highest daily percentage gains since April, as investors priced in t...
Oil prices fall as investors assess impact of Israel-Hamas war
Oil prices fall as investors assess impact of Israel-Hamas war
Source: Reuters
2023-10-16 09:12:06 am
Oil little changed as Middle East supply concerns fade Oil prices were little changed in early Asian trade on Wednesday, as concerns eased about potential supply disruptions due to the conflict between Israel and the Palestinian Islamist group Hamas.Brent crude rose 12 cents at $87.77 a barrel by 0009 GMT. U.S. West Texas Intermediate (WTI) crude rose 3 cents to $86.00 a barrel.Brent and WTI surged more than $3.50 on Monday as the military clashes raised fears that the conflict could spread beyond Gaza, but settled lower in Tuesday's session.Whil...
Oil little changed as Middle East supply concerns fade
Oil little changed as Middle East supply concerns fade
Source: Reuters
2023-10-11 08:56:18 am
Oil prices dip as markets debate hit from Middle East turmoil Oil prices edged down slightly on Tuesday after gaining more than 4% in the previous session as markets weighed the potential for supply disruptions as the conflict between Israel and the Palestinian Islamist group Hamas continued.Brent crude fell 18 cents, or 0.2%, to $87.97 a barrel at 0017 GMT, while U.S. West Texas Intermediate crude eased 16 cents or 0.2% to $86.22 a barrel.Both benchmarks had gained more than $3.50 on Monday on news of the conflict after falling steeply in volatile trad...
Oil prices dip as markets debate hit from Middle East turmoil
Oil prices dip as markets debate hit from Middle East turmoil
Source: Reuters
2023-10-10 09:09:56 am