Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei ordered the Central Bank of Iran (CBI) to boost the value of rial, the bank’s governor said on Saturday, after a months-long plunge in the currency due to a faltering economy and US sanctions.
Nearly 40 percent of the major railway project connecting southeastern port city of Chabahar to Zahedan, the provincial capital of Sistan-Baluchestan, has been completed, said an official at the Islamic Republic of Iran Railways.
State-run Indian oil refiner Hindustan Petroleum Corp will buy Iranian crude in January after a gap of six months, with the nation’s overall purchases from Tehran at 9 million barrels in the month, four industry sources said.
Nissan Motor Co. is planning to recall 150,000 vehicles in Japan after uncovering more failures in its final vehicle inspection process, dealing another blow to the carmaker whose former Chairman Carlos Ghosn is detained over alleged financial crimes.
UK Prime Minister Theresa May’s plans for a crackdown on immigration after Brexit could cause UK companies to go bust and spark job losses across the country, the head of Britain’s biggest business lobby group has warned.
The euro area’s top two economies painted a mixed picture for the start to the final quarter of 2018, leaving the jury out on whether the region is in for a prolonged economic slowdown or a rebound in momentum.