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0137 GMT July 11, 2020

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Chabahar to become Iran's third commercial hub

Minister: Nearly 230 water, electricity projects inaugurated in six months
Iranian Energy Minister Reza Ardakanian said that the country inaugurated 227 water and electricity projects in the second half of the last Iranian year (September 22, 2019-March 19, 2020).
Iran fully complying with OPEC+ quotas: Ex-governor
A former Iranian OPEC governor rejected claims by authorities in crude-producing countries that Tehran’s output of oil has exceeded a limit set by the Organization of Petroleum Exporting Countries and allies, a grouping known as OPEC+.
Iran’s March-June tire output up 27%: Report
Iranian tire manufacturers have seen their output boom by 27 percent in the first three months of the current calendar year that ended June 20, showed a report.
Official says Iran can provide railway transit between India, Russia
Referring to the railway connection between Chabahar and Zahedan in southeastern Iran, the Director General of the Islamic Republic of Iran Railways (IRIR) Saeid Rasouli said on Friday that this route can be used for the transfer of cargoes from Central Asian countries and provide railway transit between India and Russia.
Iran, Austria stress expansion of economic relations
During a meeting between Iran’s new Ambassador to Austria Abbas Ardakani and the Austrian Deputy Minister for Economic and Digital Affairs Michael Sterl, the two sides stressed the expansion of trade and commercial relations between the two countries.
IMF's chief economist urges 'equity-like' governments support for virus-hit firms
International Monetary Fund Chief Economist Gita Gopinath said on Friday governments must shift to “equity-like” support from one focused on liquidity provision as the coronavirus pandemic inflicts prolonged harm on companies.
No-deal Brexit will raise cost of UK household staples, say retailers
The cost of household staples, ranging from meat and cheese to school uniforms, will substantially increase if there is no Brexit trade deal, British retailers warned.
China's aviation industry suffers $4.9b loss in second quarter on coronavirus jolt
China's aviation industry sank further into the red, losing 34.25 billion yuan ($4.89 billion) in the second quarter, only slightly narrower than in the first quarter, underlining the colossal financial impact from the coronavirus pandemic.
South Korea to impose steeper taxes on multiple home owners to curb housing prices
South Korea will raise property ownership tax rates for multiple home owners, the Finance Ministry said Friday, in the latest move to curb housing prices.
Import collapse turns into a boon for Philippines’ currency
One consequence of the Philippines’ struggling economy is turning into a boon for its currency.