Page 5 - Iran Economy

Iran forces kill Jaish al-Adl militant commander, his companions in Pak

In the latest development, Iran's forces, in an armed clash, attacked a militant group, one month after the two countries conducted air strikes on each other

Suspected Yemen Houthi rebel drone strikes ship as Red Sea tensions rise

A ship travelling through the southern Red Sea was attacked by a suspected Yemen Houthi rebel drone early Tuesday, authorities said, the latest assault in their campaign targeting vessels over Israel's war on Hamas in the Gaza Strip. The attack happened west of Hodeida, Yemen, and the projectile caused slight damage to the vessel's windows on the bridge, the British military's United Kingdom Maritime Trade Operations said. A small vessel had been nearby the ship before the attack, it added. The private security firm Ambrey identified the vessel as a Barbados-flagged, United Kingdom-owned cargo ship. No one was hurt onboard the vessel, which suffered minor damage, the firm said. No group immediately claimed responsibility for the attack. However, suspicions immediately fell on the Iranian-backed Houthi rebels in Yemen. Since November, the rebels have repeatedly targeted ships in the Red Sea over Israel's offensive in Gaza against Hamas. But they have frequently targeted vessels with

Iran evaded sanctions, moved money using Santander, Lloyd accounts: Report

The banks provided accounts to front companies secretly owned by a sanctioned Iranian petrochemicals company

India, Iran discuss development of cooperation between two countries

Both South Asia and the Persian Gulf have strong commercial, energy, cultural and people-to-people links, the MEA said

US doesn't seek another war: WH on drone strike by Iran-backed group

A day after three US troops were killed in a drone strike in Jordan, the White House on Monday said it does not want to seek another war or escalate the tension, but would absolutely do what is required to protect itself in the region. John Kirby, Coordinator for Strategic Communications at the National Security Council in the White House, told reporters at a news conference here that the attack also sent more than 30 US soldiers to hospital, some with serious injuries. "These troops were conducting a vital mission in the region, aimed at helping US work with partners to counter ISIS. And even as the Defense Department gathers more information about the attack, that mission must and will continue," he said. "The counter-ISIS mission is separate and distinct ..indeed it has been longstanding and unrelated to our efforts to support Israel and to prevent a wider conflict in the region," Kirby said. "We do not seek another war. We do not seek to escalate. But we will absolutely do what

Iran-backed militants launch attack on US airbase in Iraq, several injured

Earlier on Saturday, the US conducted airstrikes against a Houthi anti-ship missile that was aimed into the Gulf of Aden and was prepared to launch, the US Central Command (CENTCOM) said

Trade with Iran normal, despite tension on border: Pakistani officials

Trade activities between Pakistan and Iran remained uninterrupted at all the border points in the restive Balochistan province despite tensions between them following their tit-for-tat military strikes in each other's territory, Pakistani officials have said. On Friday, more than 100 trucks carrying vegetables and other goods crossed from the Taftan border into Iran, Makran Commissioner Saeed Ahmed Umrani said. Pakistan conducted "precision military strikes" against what it called "terrorist hideouts" in Iran's Siestan-Balochistan province that killed 9 people on Thursday. The attack was seen as retaliation to Iranian missile and drone attacks on Tuesday, which targeted two bases of the Sunni Baloch militant group Jaish al-Adl in Pakistan's unruly Balochistan province. Umrani said the positive thing was that governments on both sides now making efforts to move on with trade activities at the border crossing points of Taftan, Gwadar, Kech, Panjgur and Washuk in Balochistan. Trade h

'Minor irritants' with Iran will be resolved through dialogue, says Pak

Pakistan's top civil-military leadership at a high-level huddle on Friday concluded that the minor irritants with Iran would be overcome by the two countries mutually through dialogue and diplomacy, indicating that the unprecedented tension between the neighbours has already tapered off. Caretaker Prime Minister Anwaarul Haq Kakar chaired the meeting of the National Security Council (NSC) while services chiefs, cabinet ministers and other officials were in attendance. The forum reviewed the security situation and lauded the professional, calibrated and proportionate response by the armed forces against unprovoked and unlawful violation of Pakistan's sovereignty, as the participants were briefed about political and diplomatic developments bearing upon the prevailing situation between Pakistan and Iran and its impact on the overall security milieu in the region, an official statement said. The meeting also took stock of the Operation Marg Bar Sarmachar', which was successfully execute

US evades question suggesting talks with Pak before latter struck Iran

The US on Thursday (local time) evaded a question on whether Pakistan held prior consultations with Washington before conducting retaliatory air strikes on Iran

We must retaliate for suspected Israeli strike in Beirut: Hezbollah leader

The leader of the Lebanese militia Hezbollah said on Friday that his group must retaliate after a presumed Israeli strike hit a Beirut neighbourhood this week, killing a senior Hamas official, or else all of Lebanon would be vulnerable to Israeli attack. Hassan Nasrallah appeared to be making the case for a response to the Lebanese public, even at the risk of escalating the fighting between Hezbollah and Israel. But he gave no indication of how or when the militants would act. The strike that killed Hamas' deputy political leader, Saleh Arouri, threatened months of efforts by the United States to prevent the war in Gaza from spiralling into a regional conflict. Nasrallah said it was the first strike by Israel in the Lebanese capital since 2006. We cannot keep silent about a violation of this seriousness, he said, because this means that all of our people will be exposed (to targeting). All of our cities, villages and public figures will be exposed. The repercussions of silence are

Airstrike in Baghdad kills Iran-backed militia leader, tensions escalate

An airstrike on the logistical support headquarters of an Iran-backed militia in central Baghdad on Thursday killed a high-ranking militia commander, militia officials said. Thursday's strike comes amid mounting regional tensions fuelled by Israel-Hamas war and fears that it could spill over into surrounding countries. The Popular Mobilization Force - a coalition of militias that is nominally under the control of the Iraqi military - announced in a statement that its deputy head of operations in Baghdad, Mushtaq Taleb al-Saidi, or Abu Taqwa, had been killed as a result of brutal American aggression. It was not immediately clear who had carried out the strike. Officials with the US military and embassy in Baghdad did not immediately respond to requests for comment. The strike killed two people and wounded five, according to two militia officials who spoke on condition of anonymity because they were not authorised to speak publicly. One of the officials said al-Saidi was driving in

Iran executes four accused of sabotage, links to Israel's Mossad

The executions took to five the number of people put to death this month in a decades-long shadow war that has seen Iran accuse Israel of attacks on its nuclear effort

Iran increasing production of highly enriched uranium: Atomic watchdog

Iran has increased the rate at which it is producing near weapons grade uranium in recent weeks, reversing a previous slowdown that started in the middle of this year, the International Atomic Energy Agency said in a report to member states. Director General Rafael Mariano Grossi said in the report that Iran in recent weeks had increased its production of highly enriched uranium, reversing a previous output reduction from mid-2023," according to an IAEA spokesperson Sunday. Iran had previously slowed down the rate at which it was enriching uranium to 60 per cent purity. Uranium enriched at 60 per cent purity is just a short, technical step away from weapons-grade levels of 90 per cent. The UN nuclear watchdog said its inspectors had verified the increased rate of production since the end of November at facilities in Natanz and Fordow to about 9 kilograms per month, up from 3 kilograms per month since June and representing a return to earlier levels of production. Enriching uranium

US involvement deterred Hezbollah from joining war on Israel: Report

In addition to quickly fielding U.S. aid to Israel, the U.S. has bolstered its presence in the region to deter further aggression

As Israel-Hamas war escalates, crude oil traders are focused on Iran

The energy minister of the United Arab Emirates, a key OPEC member, was clear on Sunday that the conflict wouldn't affect the group's decision-making

Iran puts imaging satellite successfully into orbit amid tensions with West

Iran claimed on Wednesday that it has successfully put an imaging satellite into space. The state-run IRNA news agency, quoting the country's communication minister, said the Noor-3 satellite had been put in an orbit 450 kilometres (280 miles) above the Earth's surface. There was no immediate acknowledgment from Western officials of the launch or of the satellite being put into orbit. Iran has had a series of failed launches in recent years.

Saudi Arabia and Iran agree to reopen embassies, ease air travel norms

Iran's semiofficial ISNA news agency says Saudi Arabia and Iran have agreed to reopen diplomatic missions in their respective capitals and in additional cities. The report says the agreement was reached Thursday during a meeting of the foreign ministers of Iran and Saudi Arabia in Beijing. The agreement also calls for studying the possibility of resuming flights between the two nations and facilitating the visa process for the citizens of both countries. Saudi Arabia and Iran are long-time regional rivals, but have moved toward reconciliation as part of a deal brokered by China last month.

Amid deepening ties, Iran set to buy Russia's Sukhoi Su-35 fighter jets

Iran has finalized a deal to buy Sukhoi Su-35 fighter jets from Russia, state media reported, as defense cooperation between the two countries deepens, reported Times of Israel

Centre seeks info from embassy on Iran's bar on rice, tea imports

'As of now, there has been no confirmation from the authorities and the response from the embassy in Tehran is also taking time'

What we know about Iran's notorious 'morality police' and how it operates

This force has been patrolling the streets of Iran since 2006, arbitrarily enforcing its strict dress code