Uncertainty looms over export of basmati rice and tea to Iran as the Central Bank of Iran has slowed down allocation of currency against which Iranian traders were buying these commodities from India. Indian basmati rice exporters said they are not entering into new contract with Iranian importers so as to avoid any payment-related problems. … Read more
It’s a good day for OPEC. Data published Monday by the oil cartel show its members have largely complied with an agreement to slash production. The confirmation caps a remarkable year for OPEC, which was forced to devise a plan to boost prices after they fell to $26 per barrel in February 2016. The price … Read more
Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Sign up here. Abu Dhabi, UAE CNN — The devastating earthquake that hit Turkey on February 6 killed at least 45,000 people, rendered millions homeless across almost a dozen cities … Read more