On Monday, the Iranian foreign ministry blamed the U.S. for halting negotiations on nuclear issues. Spokesperson Saeed Khatibzadeh said the pause in nuclear talks between Tehran and world powers in Vienna is due to the U.S. government’s attitude. He said an agreement was possible during negotiations but talks couldn’t move forward. Former U.S....
Training programs for four conventional banks on Islamic banking and finance have been conducted in Uzbekistan. The programs were developed by the Islamic Development Bank Institute and the Islamic Corporation for the Development of the Private Sector. The five-day training for each bank included the following subjects: principles of Islamic f...
U.S. President Joe Biden said he plans to unveil “a 20% minimum tax rate on all American households worth more than $100 million.” The so-called “Billionaire’s Tax” specifically targets roughly 700 of the nation’s wealthiest people. The Washington Post reports that the proposal could be announced as early as Monday as part of the preside...
ISTANBUL – Sanctions-hit Russia and Iran are focusing their efforts on bypassing SWIFT with an alternative interbank messaging system, an Iranian diplomat announced. “We are making efforts in this direction,” said Kazem Jalali, Iran’s ambassador to Russia, according to Russian news channel RT. Under Western sanctions ov...
Among the oldest women entrepreneurs of Indian-administered Kashmir, fisherwomen locally known as Gadhi Wajin, can be seen thronging markets early in the morning. They lure customers to buy the catch netted by male family members. Dotted by lakes and streams, the scenic Kashmir Valley produces varieties of fish. Rehti Begum, 57, walks miles e...
Rising crude oil prices are expected to lower oil-rich Gulf nations’ need to sell Islamic bonds, according to Moody’s Investors Service. Higher oil prices will lead to lower sukuk issuance in 2022. Sukuk is the name for interst free bonds. That’s driven largely by lower financing needs among Gulf Cooperation Council countries, according to a...
U.S. biotechnology company Moderna plans to invest more than $500 million in a vaccine and drug manufacturing facility in Kenya. Leaders of the African nation signed a memorandum of understanding with Moderna on Monday in the capital Nairobi. The new facility will help address the problem of vaccine inequity experienced across Africa. Kenyan P...
Russia has become the world’s most sanctioned country due to its war on Ukraine. The international community has imposed 2,778 new sanctions on Moscow in just under two weeks since Russian troops invaded Ukraine. The total number of sanctions increased to 5,532, according to the global sanctions monitoring database Castellum.ai. By comparison,...
An international body fighting money laundering says the United Arab Emirates isn’t doing enough to stop criminals and militants from hiding wealth there. Paris-based Financial Action Task Force on Friday placed UAE on its “gray list” of 23 countries, including Jordan, Syria and Yemen. The Emirates, a federation of seven sheikhdoms on the Arab...
The US is banning all Russian aircraft from using its airspace in response to Moscow’s ongoing war on Ukraine, President Joe Biden announced on Tuesday. Addressing a joint session of Congress for his first State of the Union, Biden described the closure of US airspace as just the latest in a series of measures intended […]
