Iran has effectively curbed the oppressive Western sanctions on its oil industry, according to a report by Israeli media on Tehran’s new methods for confronting these restrictions. On Wednesday night, IRNA cited a report from Hebrew-language media outlet Ma’ariu, acknowledging Iran’s success in mitigating the impact of sanctions on its energy sector. Despite crippling sanctions,...
TOKYO, Oct 19 (Reuters) – Japanese authorities repeated their warnings about the yen’s precipitous fall against the dollar on Wednesday, with Finance Minister Shunichi Suzuki saying he was “meticulously” checking currency rates with more frequency, local media reported. Speaking to reporters at the finance ministry, Suzuki said the government would “properly respond” in the foreign...
SHANGHAI/BEIJING, Oct 17 (Reuters) – China’s state banks stepped up their intervention to defend a weakening yuan on Monday, with banking sources telling Reuters these banks sold a high volume of U.S. dollars and used a combination of swaps and spot trades. Six banking sources told Reuters the country’s major state-owned banks were spotted swapping...
Interview by Nadeem Abbas Dr Mehboob Hussain,Chairman Department of History and Pakistan Study University of Punjab in an exclusive interview with The London Post said Pakistan’s relations with Central Asia are centuries old. As long before Mughals,Khilji, Tugluq, Salve, Lodhi, Sadaat dynasties which rule South Asia originate from central Asia and all sufis, poets and...
LONDON, Oct 15 (Reuters) – It started out simply enough: British pension schemes were looking for a way to match their assets to future pension payments. Schemes run for pharmacy Boots and bookseller WHSmith were early adopters in the 2000s of an investment strategy of dumping stocks for bonds, to shield themselves from interest rate...
DUBAI, Oct 12 (Reuters) – A “flying car” built by Chinese electronic vehicle maker Xpeng Inc (9868.HK) made its first public flight in the United Arab Emirates, as the company works towards launching the electric aircraft on international markets. The X2 is a two-seater electric vertical take-off and landing (eVTOL) aircraft that is lifted by eight...
WASHINGTON, Oct 12 (Reuters) – President Joe Biden pledged on Tuesday “there will be consequences” for U.S. relations with Saudi Arabia after OPEC+ announced last week that it would cut its oil production target over U.S. objections. His announcement came a day after powerful Democratic Senator Bob Menendez, chairman of the Senate Foreign Relations Committee,...
LONDON, Oct 11 (Reuters) – Europe needs to pay up to import liquefied natural gas, pray for a mild winter and cut energy demand as any sabotage of infrastructure or even deeper cuts to Russian supply would make power rationing or blackouts all but inevitable. Even if Europe manages to stay warm and keep the...
BENGALURU, Oct 7 (Reuters) – India’s rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign, according to a Reuters poll of FX strategists. Steamrolled by the Fed-pumped dollar, the rupee has fallen over 10% this year and...
LONDON, Oct 7 (Reuters) – British house prices fell for the second time in three months in September in month-on-month terms and rising borrowing costs are likely to exert “more significant downward pressure” soon, mortgage lender Halifax said on Friday. House prices fell by 0.1% from August, Halifax said. In annual terms, house prices were...