Category: Money and Business

US targets Iranian currency with fresh sanctions

The US has unveiled fresh sanctions against Iran, targeting its currency, as it increases the pressure on Tehran to abandon its nuclear programme. These include penalties on anyone facilitating “significant” transactions in the rial or holding significant amounts of the

It’s A “0.6%” World: Who Owns What Of The $223 Trillion In Global Wealth

Back in 2010 we started an annual series looking at the (re)distribution in the wealth of nations and social classes. What we found then (and what the media keeps rediscovering year after year to its great surprise) is that as

Iran’s national currency rebounds against US dollar

The Risk inside your credit card

Iran’s currency falls to record low against the dollar 24,300 rials to a dollar

TEHRAN, Iran (AP) — Iran’s currency hit a record low against the dollar in street trading, the semiofficial Mehr news agency reported Sunday. Mehr says the rial dropped nearly 7% in a day, to 24,300 rials to the dollar. Street

Iran said to offer to insure tankers to S. Korea

SEOUL–Iranian officials have offered accident insurance coverage worth a maximum of $1 billion for Iranian tankers shipping Iranian crude oil to South Korea, a Hyundai Oilbank official, who declined to be named, said Wednesday. Hyundai Oilbank and SK Innovation ,

HSBC hid ‘$16bnHSBC hid ‘$16bn in Iran transactions’

Global banking giant HSBC and its US affiliate concealed more than $US16 billion ($A15.67 billion) in sensitive transactions to Iran, violating US transparency rules over a six-year period, a Senate panel says. HSBC executives were aware of the ‘concealed Iranian

JPMorgan reveals shock $2bn trading loss on investments

JPMorgan’s chief executive Jamie Dimon said “many errors” were made JPMorgan Chase, the biggest US bank, has revealed a surprise trading loss of at least $2bn (£1.2bn) on complex investments made by its traders. Chief executive Jamie Dimon blamed “errors,

معرفی یک ایرانی به عنوان دستیار وزیرخزانه داری آمریکا

Interest rate for your saving account in the land of Great Satan: 0.25 percent Interest rate for your saving account in the land of Eghtesaad Toohidi: 21 Percent— Hurry up and invest your life savings in IRR Rial and double your money in 3.42 years!!

Facing a wave of panic selling by Iranians worried that international sanctions and inflation are destroying the value of the country’s currency, the rial, Iran’s president reversed himself on Wednesday and allowed bank interest rates to rise sharply in an