Iran is ready to complete and inaugurate the proposed Iran-Pakistan gas pipeline project ahead of the due date, the vice president for international affairs said in Islamabad today. In a meeting with Pakistani finance officials, Ali Saeedlou said that Iran is prepared to help Pakistan establish the pipeline ahead of the date the two sides have agreed upon, IRNA news... 

President of the Somali Red Crescent Society has expressed gratitude to Iran for Tehran’s significant contribution of humanitarian aid to the famine-stricken African nation, Press TV reports. “[We are here] to express our appreciation and thanks to the Iranian Red Crescent for the assistance they have provided for the Somali people,” Ahmad Mohammad Hassan told... 

Gendarme forces move toward protesters in Piata Universitatii square, Bucharest January 19, 2012. Romania’s Prime Minster Emil Boc has resigned following weeks of public protest against IMF-backed austerity measures amid the debt crisis sweeping the European Union. Announcing his resignation on Television on Monday, Boc said that he wanted to “defuse political... 

Indian business delegation will visit Tehran in the end of February to boost oil imports from the Islamic Republic. India plans to send a business delegation to Iran to hold talks aimed at increasing the volume of Tehran’s oil exports to New Delhi, a report says. “We will need to lead a business delegation there, taking potential exporters across a range of... 

Russia has lost $4 billion due to the loss of arms contracts with Libya as a result of the UN’s arms shipments embargo. Anatoly Isaikin, the General Director of Russia’s defense export giant Rosoboronexport, said that Russia had concluded arms contracts worth $2 billion with the previous administration of Libya. “We could conclude more contracts for... 

A senior lawmaker says Iran’s Majlis is considering a plan to cut off the country’s economic transactions with South Korea’s Samsung in reaction to the company’s anti-Iran teaser. Head of Majlis Energy Committee Arsalan Fat’hipour said the double-urgency plan, aimed at imposing a complete ban on buying all Samsung products, would make the... 

A grim report just issued by the Finance Ministry that is circulating in the Kremlin today says the United States Clearing House Interbank Payments System (CHIPS) has ground to a virtual halt signaling that a major global economic collapse is currently underway and could very well likely enter into the dreaded “freefall zone.” Virtually unknown to all but the global... 

German Chancellor Angela Merkel Despite Beijing’s outright refusal to join the EU and US-sponsored unilateral sanctions on Iran’s oil industry, German Chancellor Angela Merkel has arranged a visit to China to convince the country to reduce Iranian oil import. A German government source told a news briefing on Tuesday that “It is in German interests that... 

French President Nicolas Sarkozy has ridiculed Britain once again by saying that “the United Kingdom has no industry any more”, media reports said. The recent spat was made during a prime time national TV broadcast, in which Sarkozy was trying to defend his decision to introduce an increase in the Value Added Tax (VAT) in an attempt to boost France’s failing... 

European Union leaders are expected in Brussels for their first summit of the year in attempt to reconcile austerity with growth and to approve a permanent rescue fund for the crisis-hit eurozone. The half day summit on Monday is meant to focus on ways to generate growth and create jobs, while having more austere fiscal measures for nations with unsustainable levels... 

Shah Deniz gas field BP Plc, UK, and EU have reportedly convinced US lawmakers to exempt a BP-led project from the newly- proposed Washington sanctions on Iran. This is a clear indication that the West is pushing for stricter embargoes on Tehran without harming its own economy. US senators have discussed provisions that could bar companies like BP from working with the... 

New Western sanctions seek to prevent other countries from importing Iran's crude oil. India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil. According to a report published by DEBKAfile news website, unnamed sources have stressed that China is also expected... 

Billionaire investor George Soros has a new prediction for America. While it might be as dire as it gets for the financial wiz, this bet concerns more than just the value of the buck. According to Soros, there’s about to be an all-out class war. Soros, 81, previously bet against the British pound in the early 90s and made $1 billion off its collapse. In the years... 

Iranian Navy warships take part in maneuvers during the "Velayat-90" navy exercises in the Strait of Hormuz in southern Iran. Tensions in the Gulf could reach a breaking point as a senior Iranian official said Iran would “definitely” close the Strait of Hormuz if an EU oil embargo disrupted the export of crude oil, the semi-official Fars news agency reports. The... 

Protesters waving Romanian flags shout anti-president slogans atop a monument in the central University Square in Bucharest on January 22, 2012. Romanian protesters have taken to the streets of the capital Bucharest for a tenth consecutive day to demand the resignation of the government over its austerity measures. Scores of protesters again gathered in the capital’s...