Economy

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Germany's Daimler abandons Iran expansion plans

German car and truck manufacturer Daimler said it has dropped plans to expand its Iran business in reaction to renewed U.S. sanctions. "We have ceased our already restricted activities in Iran in accordance with the applicable …

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Oil prices rise amidst U.S. sanctions against Iran

Oil price rose today amid reports that the U.S. restored sanctions against Iran, the world’s fifth-largest oil producer. Brent Oil Futures for October delivery rose 0.33% to $74 per barrel at 1:02AM ET (05:02 GMT), while Crude Oil …

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First round of sanctions on Iran come into effect

The US resumed the sanctions against Iran following Washington’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA). The restrictions will cover the automotive sector, the purchase and sale of gold and key metals. US …

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Iran eases currency rules

Iran's Central Bank lifted a ban on exchange offices, allowing them to resume work in a move aimed at bringing in badly needed hard currencies. The bank also gave the green light for Iranian "legal institutions and …

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EU to block US anti-Iran sanctions

The European Union will block the anti-Iran sanctions on its territory imposed by the United States to protect European countries, the European Commission said. "We deeply regret the re-imposition of sanctions by the U.S., due …

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Rusal Q2 profit surges vs year-ago earnings

Adjusted net profit of Russian aluminum producer Rusal in the second quarter of 2018 decreased 31% in comparison with the first quarter and amounted to $218 million, the company said in its interim report. In comparison with the second …

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China interested in plant construction in Kazakhstan

China’s HKC Corporation Limited, one of the five companies of China in the market for the production of monitors and TV sets, intends to build an assembly plant in Kazakhstan’s Kostanay region, Kazakh Invest national company said. …

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How will China counter U.S. trade threats?

China announced a list of $60 billion worth of U.S. imports it plans to apply tariffs on should Washington follow through with its latest trade threats, Bloomberg writes. Duties ranging from 5% to 25% will be levied on 5,207 kinds of …

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