World Bulletin / News Desk
Iran's rial sank about 5 percent in trading against the U.S. dollar on Monday after the central bank said it would change the currency's official exchange rate, prompting fears of another devaluation.
The rial was trading in the free market at around 21,510 per dollar, according to Persian-language currency tracking website Mazanex, down from about 20,440 on Sunday.
Central bank governor Mahmoud Bahmani said on Sunday he would announce a change to the government's "reference rate" of 12,260 rials to the dollar "within the next 10 days", Iranian media reported.
Iranian media speculated that the new reference rate might be between 15,000 and 16,000 rials.
Most Iranians are unable to obtain dollars at the official rate and must instead use the free market, which is much more expensive.
With memories of riots at the pumps when cheap fuel was rationed for the first time, in 2007, police are on the alert, but do not expect trouble, Interior Minister Abdolreza Rahmani Fazli said
Slovak Economy Minister Tomas Malatinsky said a deal allowing shipment of the gas via an unused pipeline between the two countries was almost ready.
Much lawmaking in Europe, including a sweeping overhaul of banking, is wrapped up in talks between diplomats and lawmakers with no public record of who attended or what was said
Thousands of workers at a factory in Dongguan in the Pearl River Delta run by Hong Kong-listed Yue Yuen Industrial Holdings , the world's largest shoe maker, have been on strike for more than 10 days
Russian Economy Minister Alexei Ulyukayev said last week that Russia could launch a dispute at the world trade body to challenge U.S. sanctions.
A Gazprom source said the $11.4 billion was in addition to the $2.2 billion that Naftogaz already owes for supplies in 2013 and 2014 so far.
Tech giant Apple reported Wednesday a 4.6 percent increase to $45.6 billion in quarterly revenue, beating market expectations after selling 43.7 million iPhones.
The six-day meeting is expected to discuss the CFTA's objectives, the principles that will guide negotiations for the free trade area, and the institutional arrangements needed to conduct negotiations.
Russia has proposed from European Union Energy Commissioner Guenther Oettinger for a three-way meeting on gas between Russia
The southern African country, which ditched its hyper-inflated local currency in 2009, is facing a serious dollar crunch as a result of lack of foreign donor support and investment
The European Commission, in charge of policing member states' public finances, is expected to respond to French projections in early June after European parliamentary elections
The Australian purchase is a signal of confidence in the F-35 Joint Strike Fighter (JSF) programme, which is about 70 percent over budget and years behind schedule
Executives say a plan is needed to tackle surging inflation as economic recession looms.
An agreement between the United States and Japan is crucial for setting the tone for other countries engaged in the TPP
The pipeline was closed as a precaution following the discovery of the fuel store
Unfair pricing which threatens U.S. domestic industry brings additional taxes to Turkish and Mexican companies.