ISTANBUL (AA) – Azerbaijani President Ilham Aliyev on Thursday discussed development of the Southern Gas Corridor with a senior US official. “President Ilham Aliyev thanked the US delegation for their participation in the 9th Southern Gas Corridor Advisory Council Ministerial Meeting,” a statement by the Azerbaijani presidency read. The ...
MOSCOW (AA) – Russia has started a pilot project on implementing Islamic financial practices in several regions with Muslim-dominated population. The experiment will take place in Dagestan, Chechnya, Bashkiria and Tatarstan and will last for two years. After that, the authorities will decide on the suitability of the Islamic model for Ru...
BEIRUT, Lebanon (AA) – Lebanon’s central bank announced Wednesday that it has set a new exchange rate for the country’s currency — 15,000 lira against one US dollar — a massive devaluation from the old rate of 1,507 lira. According to the central bank, the new exchange rate is effective from Wednesday. However, ac...
Islamabad, Pakistan (AFP): Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials began a visit to discuss a vital cash injection. Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary ...
Tunis, Tunisia (AFP): Tunisia’s main opposition coalition urged a united front against President Kais Saied after just 11.3 percent of Tunisians voted Sunday in a second-round poll for a toothless parliament in the politically divided nation. “Almost 90 percent of Tunisian voters ignored this piece of theatre and refused to be invo...
DHAKA, Bangladesh (AA) – The International Monetary Fund (IMF) has approved a much-awaited $4.7 billion loan package for Bangladesh, according to a statement by the fund. The loan approved by the fund’s Executive Board includes $3.3 billion under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF), and $1.4 billion under the Re...
NEW DELHI, ISLAMABAD (AA) – A legal battle between India and Pakistan over water sharing began in The Hague on Friday, with New Delhi seeking “modification” to the 1960-signed Indus Waters Treaty and Islamabad accusing its neighbor of violating the pact in the design of new dams that it says will dry up its irrigation […]
TEHRAN, Iran (AA) – In a tit-for-tat move, Iran has announced sanctions against dozens of individuals and entities affiliated with the European Union and the UK. In a statement, the Foreign Ministry said it was placing 22 individuals and three entities from the EU on its sanctions list, as well as eight individuals and one […]
KARACHI, Pakistan (AA) – The Pakistani rupee tumbled to an all-time low on Thursday against the US dollar days after a cash-strapped Islamabad agreed to accept a key International Monetary Fund (IMF) demand for removal of an unofficial cap on exchange rate. The value of the dollar shot up by 24.25 Pakistani rupees to an […]
Baghdad, Iraq (AFP): Hundreds of Iraqis gathered on Wednesday in front of the central bank in Baghdad to protest against a sharp fall in the local currency’s value against the US dollar, AFP journalists reported. The official exchange rate is fixed by the government and remains unchanged at 1,470 dinars for one dollar, but since [&hellip...
