-
End of US dollar dominance on global market is nigh, top Russian banker predicts
Jun 10, 2023 15:51A distinguished and powerful Russian banker says the end of the dominance of the US dollar is nigh as the Chinese yuan rises and the rest of the world sees the peril of the West’s failed attempt to bring Russia to its knees over Ukraine.
-
Iran businesses welcome Pakistan’s approval of barter trade
Jun 04, 2023 04:20Iranian businesses expect a major surge in exports to Pakistan after Islamabad issued a special order that allows barter trade with three countries including Iran.
-
Americans deep in debt, owing banks $1 trillion in credit cards
May 31, 2023 08:05An unprecedented level of debt has plunged average Americans into dire economic straits, adding to the hardships of citizens trying to make ends meet amid soaring inflation.
-
Turkey's Lira sinks to fresh record low after Erdogan re-elected
May 29, 2023 11:33The Turkish lira has sunk to a record low after long-time leader Recep Tayyip Erdogan secured his victory in the 2023 presidential election, saving his place at the helm for a new term in office.
-
Iran’s sovereign wealth fund says it has assets worth $150bn
May 29, 2023 05:58Iran’s sovereign wealth fund has rejected claims it has been depleted of resources by saying that assets owned by the fund is worth some $150 billion.
-
Asian Clearing Union to launch banking system to rival SWIFT
May 25, 2023 04:32Members of the Asian Clearing Union (ACU), a regional banking bloc that seeks easier clearing of payments between its member states, have agreed to launch a system that will rival the SWIFT international payment network.
-
Iran urges trade with India in own currencies
May 01, 2023 14:18Secretary of Iran’s Supreme National Security Council Ali Shamkhani called for plans to conduct trade transactions with India using the two countries’ own currencies, namely rial and rupee.
-
Argentina to pay for Chinese imports in yuan instead of dollars
Apr 27, 2023 07:07The global trend of substituting the US dollar with local currencies in trade transactions is speeding up as more countries are ditching the greenback.
-
Iran reports 11.3% rise in manufacturing activity in Dec quarter
Apr 27, 2023 05:22Central Bank of Iran (CBI) figures show manufacturing activity in the country rose by 11.3% in the quarter to December 21 last year compared to the same period in 2021.
-
Demise of dollar: India, Bangladesh join hands to ditch US currency in cross-border trade
Apr 24, 2023 11:18India has finally joined hands with Bangladesh to do cross-border trade in their own currencies, the Indian rupee (INR) and the Bangladeshi taka (BDT), making Bangladesh the nineteenth country to ditch the US dollar.