A ministerial committee of the Economic Coordination Committee (ECC) on Friday decided to export one million tons of wheat at market prices plus a premium to Iran under a barter trade deal that would allow Pakistan to import urea for current Kharif season.

The committee constituted by the ECC is led by Water and Power Minister Syed Naveed Qamar and comprised minister for national food security and senior officials of food security and commerce ministry, and managing director of Pakistan Agricultural Storage and Services Corporation (PASSCO).

Informed sources said the meeting decided...

Armenian Prime Minister Tigran Sarkisian has confirmed that the joint major economic projects with Iran remain in force and being implemented, Novosti-Armenia news agency reports. Sarkisian added that one project in particular, is the construction of an oil pipeline and hydroelectric power plants on the river Araz. "The contracts are signed, the solution adopted, permits given and construction will start," Sarkisian said in an interview with Shant TV.

Speaking of the oil pipeline project, the prime minister noted that the design work is now underway to determine the total cost...

Bahrain Chamber of Commerce and Industry (BCCI) hailed HM the King's ratification of the constitutional amendments project which has been approved by the legislative power.

BCCI Chairman Dr. Essam Abdullah Fakhro considered the royal endorsement of the amendments, as it has been described by HM the King, a historic breakthrough in Bahrain's history.

He said the ratification of these amendments reflects HM the King's keen interest to achieve national security and unity as well as the aspirations of the Bahraini people.
"It also reflects a desire to protect the supreme interests...

The Port of Los Angeles today became the first seaport in North America and the Pacific Rim to adopt an international clean air program that rewards ocean carriers for bringing their newest and cleanest vessels to the Port. The Los Angeles Board of Harbor Commissioners today formally approved an Environmental"...

Cartes 2012

The 2012 CARTES Exhibition & Conference (formerly "CARTES et IDentification") will take place at Paris-Nord Villepinte exhibition centre between 6 and 8 November 2012. This year, 2 major themes explored at the show will be mobile payment and security in the Cloud, and the special guest country will be India. We already have a number of important dates for"...

A UAE company set up to oversee a multi-billion dollar project to construct the country’s first inter-emirate rail network has revealed the final designs of the train, which will have a grey body marked with a red line in the middle.

The train will also carry the company’s motto, which will be derived from the UAE flag, Etihad Rail said in a statement.

“The design of the project has been completed and this means it is going ahead and will be completed on schedule,” Etihad’s Rail Chairman Nassir Al Suwaidi told the Dubai-based Emarat Al Youm daily.

He...

Iran's oil output has reached its lowest level in 20 years, independent data showed yesterday, as the impact of sanctions dramatically deepens.

The output decline underscores how pressure on Iran is increasingly hurting its coffers-with oil and gas normally accounting for over half of its export revenue.

According to Vienna-based JBC Energy GmbH, Iran’s crude output fell to 3.2mn bpd in April, down 150,000 bpd in two months. That level hadn’t been hit since the aftermath of the Iran-Iraq war in 1990.

Iran’s oil industry"...

Iranian President Mahmoud Ahmadinejad has inaugurated the 25th edition of the annual Tehran International Book Fair, Press TV reports.

“This book fair is an opportunity that we hope will turn into a cultural festival through the efforts of its organizers,” Ahmadinejad said on Tuesday.

The Iranian president described the fair as “a cultural event all nations attend to exchange views and communicate in the line of perfection, in a free, peaceful and humane atmosphere.”

Tehran’s annual International Book"...

The cabinet has approved the allocation of 150 trillion rials (some $ 12.2 billion) to support agriculture projects this year, which began on March 20, Agriculture Minister Sadeq Khalilian said on Wednesday.

Moreover, 40 trillion rials (some $ 3.3 billion) has been allotted to expand agricultural infrastructure, Khalilian added.

Referring to the government’s decision to import $ 24 billion worth of basic goods, he said that $ 6 billion would be paid to import agricultural inputs and goods and $ 18 billion to import raw materials"...

The fund that siphons off Iran’s oil revenue for future social investment will reach $50 billion by the end of this year, which ends on March 20, 2013, said Finance and Economic Affairs minister Shamseddin Hosseini. 20 per cent of Iran’s oil revenues each year are deposited into Iran’s National Development Fund.

“Last year, the fund’s reserve hit $30 billion. This year, its reserve will be dependent on oil prices,” Hosseini said, the IRNA News Agency reported. Meanwhile, President Mahmoud Ahmadinejad said on April 7 that the country’s...