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Iran withdraws cheap dollars for most importsIran has stopped providing subsidised dollars for the import of most basic goods, Iranian media reported, a move that could push soaring consumer prices even higher in the run-up to a presidential election in June. The Iranian ria More… |
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Iran rial firms after ‘positive’ nuclear talksThe Iranian currency jumped about 9 per cent against the US dollar because of apparent government intervention and a positive tone at nuclear talks between Iran and world powers, currency websites and Iranian media reported on Monday. More… |
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Iran inflation to top 30pc as sanctions hit outputIran's inflation is continuing to rise and is likely to top 30 per cent in coming weeks as economic sanctions contribute to shortages and stockpiling by anxious consumers, the central bank governor was quoted as saying on Monday. More… |
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Iran rial slips as power struggle over banker loomsThe Iranian rial has dropped sharply on the open market since Sunday on speculation the head of the country's central bank could be sacked in a row over his performance that has exposed the country's political faultline More… |
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Iran parliament to probe c.bank over rial fallIran's parliament voted 171 to 36 to investigate the country's central bank over its response to last year's currency crisis, parliamentary news agency Icana reported. Iranian media More… |
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National Bank of Oman Q4 profit jumps 48pcNational Bank of Oman, the sultanate's fourth-largest lender by market capitalisation, posted a 47.8-percent rise jump in fourth-quarter net profit on Sunday, beating analysts' expectations. The lender made a net profit of More… |
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Sanctions side effect hits Iran's food systemIran's food distribution system is in crisis even though Western sanctions do not directly target the market, badly hurting the poor and turning some staples into luxuries. Private importers are shrinking away from deals made More… |
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Oman money market curbs may hurt Islamic banksAs Oman prepares to introduce Islamic finance, a restriction on the money market instruments which banks can use may curb their ability to manage funds in the market, hurting profitability. Authorities are expected to release Isla More… |
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Iran set to introduce second official currencyThe Central Bank of Iran is planning to introduce a second official currency exchange rate for imports, Mehr news agency has recently reported. The new measure, which should be implemented within the next few weeks, has been approved by the gove More… |
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Currency: Iran govt may win battle of willsA battle of wills between Iran's government and foreign exchange traders may end with authorities taking over all legal trade in the rial, leaving many Iranians to seek hard currency illegally in a poorly supplied black mar More… |
