Author: Steven Sahiounie

Foreign Minister Hossein Amirabdollahian described Iran as a reliable and effective partner for the BRICS, suggesting ideas to strengthen the economic grouping’s role and correct deficiencies in the global systems. In an address to the closing ceremony of the BRICS summit, dubbed “Iran and BRICS: Prospects for Partnership and Cooperation”, held in Tehran on Tuesday, Amirabdollahian highlighted the significant role of BRICS in driving global economic growth, saying Iran can be a “reliable and influential” partner of the five-member bloc of emerging economies. “The creation of BRICS is definitely a step forward in the relations between the emerging economies and…

Washington isn’t the first foreign power to use the country as a firing range The US could test its hypersonic missiles in Australia, Army Secretary Christine Wormuth said on Wednesday. Such a move, under the three-member Australia, UK, US (AUKUS) pact, would represent a significant expansion of Washington’s presence in the Asia-Pacific region. China has accused the US of using the pact to “play up conflict and confrontation” with Beijing. “One thing Australia has in spades is long distances and relatively unpopulated land,” Wormuth told the AFP news agency. “A challenge for us in the United States when it comes to hypersonics … is to find open…

Prime Minister, Hussein Arnous, received on Wednesday Chairman of the National Security and Foreign Policy Committee of Iranian Islamic Shura Council, Vahid Jalalzadeh, and accompanying delegation. Stepping up efforts to upgrade the energy and economical cooperation to the highest level, in addition to the operational measures taken to implement the bilateral MoUs and agreements been reached upon recently, were the focus of the meeting. Arnous attached great importance to the significant role of the two legislative parliaments in the two counties as they represent the genuine democracy that stems from the interests of the two peoples. All circumstances surrounding the…

Saudi Arabia has been operating its embassy in Iran since Sunday, however, no official announcement has been made on the matter. The Saudi embassy in Iran resumed its operations in the country on Sunday, August 6, according to an Iranian official cited by Islamic Republic News Agency (IRNA). “The Embassy of the Kingdom of Saudi Arabia in the Islamic Republic of Iran has officially resumed its activities in our country since Sunday,” an official told IRNA on Wednesday. On June 6, an Iranian source told Al Mayadeen that the Iranian embassy in Riyadh officially launched its work on Tuesday. Iran reopened its embassy in Jeddah back on June…

China consumer prices fall in June * Focus on U.S. inflation * Dollar/yen could hit 2023 highs -analyst (Recasts lead paragraph, updates prices, adds comment) By Gertrude Chavez-Dreyfuss NEW YORK, Aug 9 (Reuters) – The U.S. dollar drifted lower on Wednesday in thin rangebound trading, with investors looking ahead to Thursday’s U.S. consumer prices report for indications on where the Federal Reserve’s monetary policy is headed. The greenback posted steeper losses earlier in the session, particularly after data showing the Chinese economy slipped into deflation last month. That raised the chances of China launching additional stimulus measures and nudged investors…

A deepening slowdown in the world’s second-biggest economy has now raised fears of deflation, which could be crippling for heavily indebted China. The United States has spent much of the past 18 months struggling to control inflation. China is experiencing the opposite problem: People and businesses are not spending, pushing the economy to the verge of a pernicious condition called deflation. Consumer prices in China, after barely rising for the previous several months, fell in July for the first time in more than two years, the country’s National Bureau of Statistics announced on Wednesday. For 10 straight months, the wholesale prices…

“Options are being explored as to how the pipeline can be drained and protected,” Marc Spieker said BERLIN, August 9. /TASS/. E.ON plans to remain in the Nord Stream gas pipeline operating consortium, Chief Financial Officer of the German energy company Marc Spieker told reporters. “Options are being explored as to how the pipeline can be drained and protected,” the CFO said, cited by the Rheinische Post newspaper. In the long run, gas prices will be higher than before the COVID-19 pandemic and the conflict in Ukraine, the senior executive said. “I believe that in the near future, a return to the…

It is noted that the divestment of Russian assets has become an involuntary measure because the risk exists for the entire group MOSCOW, August 9. /TASS/. Polymetal is considering an opportunity of selling the corporate assets located in Russia, CEO of the gold and silver miner Vitaly Nesis said during a teleconference with investors. “I think a portion of funds will be allocated to build businesses in Kazakhstan and another portion – to pay out dividends from Polymetal International,” the chief executive said, answering a question regarding the allocation of money from sales of the Russian segment of the business.…

It is noted that the company and the prospective buyer presented their plans to the Russian government commission on control of foreign investments in Russia MOSCOW, August 9. /TASS/. The Finnish energy holding Fortum is still intent on selling its assets in Russia after they were transferred to the Russian State Property Management Agency for temporary management, CEO Markus Rauramo told Reuters in an interview. According to him, prior to the transfer of the stake to temporary management, the company was negotiating with a potential buyer for the Russian assets, described by Rauramo as “well-invested, profitable, efficient and the best that exists…

It is reported that the draft order was drawn up for purposes of supporting the domestic market with liquefied petroleum gas ASTANA, August 9. /TASS/. Authorities of Kazakhstan are going to set a temporary ban on liquefied petroleum gas exports from the country, with the relevant draft order of Energy Minister Almassadam Satkaliyev posted on the web portal of regulatory acts for the public discussion. “The ban to be introduced for exports of liquefied petroleum gas and butane from the territory of the Republic of Kazakhstan by motor transport for the term of three years, by rail transport – for…