News: Iran Economy
"Turkmenistan reduced its exports to Iran by half two days ago but since Sunday afternoon, the exports have completely ceased," said a spokesman for the National Iranian Gas Company, quoted by the state broadcaster.
By Selina Williams
LONDON (Dow Jones)--An Iranian opposition group alleged Thursday that new information contained in a confidential government report obtained by the opposition showed the country's elite Revolutionary Guards militia force had tightened its grip on the Iranian economy.
Oct. 19 (Bloomberg) -- Group of Seven finance ministers and central bankers for the first time in at least two decades rebuked Iran, calling on banks worldwide to be wary of risks associated with doing business with the Islamic republic.
U.S. Treasury Secretary Henry Paulson, French Finance Minister Christine Lagarde and their counterparts from five other wealthy countries praised the Paris-based Financial Action Task Force, a 34-government agency that last week concluded Iran represents a ``significant vulnerability'' to the international financial system.
By Reza Shafa
Around 400,000 Iranians play a major role in the United Arab Emirates economy today. Since Ahmadinejad's ascendancy to power two years ago, the figure has doubled. The Iranians have invested billions of dollars in UAE because of fear over the feature economic uncertainties in Iran.
Source: Agence France Presse
By: Farhad Pouladi
TEHRAN -- The head of the Iranian central bank has resigned, the third departure of a key economic policymaker from President Mahmoud Ahmadinejad's administration in just two weeks, the official IRNA agency reported Sunday.
FRANKFURT, Aug 21 - Dresdner Bank has decided to wind up its remaining business in Iran, a spokesman for the German bank said on Tuesday.
Source: The Wall Street Journal
Deutsche Bank AG and Commerzbank AG, the two largest European banks to continue doing business with Iran despite recent U.S. pressure, say they will end most of their ties to Iranian companies.
The loss of ties to the two German banks could prove a serious blow to Iran unless it can quickly line up other banks to facilitate the country's international commerce. Iran transfers money through euro-denominated accounts at the two German banks and relies on them to finance trade deals, according to counterterrorism officials who monitor the global financial system.