Tag: Iran

  • MTN calls $4.2bn claim by Turkcell opportunistic, baseless

    MTN calls $4.2bn claim by Turkcell opportunistic, baseless

    MTN on Tuesday called a 4.2 billion-dollar claim by Turkcell in a South African court over a disputed Iranian mobile phone licence “opportunistic” and “baseless”, the company said on Tuesday after filing a defence plea.

    Turkcell first sued MTN in a U.S. court in 2012, alleging the company used bribery and wrongful influence to win a lucrative Iranian license that was originally awarded to Turkcell.

    It dropped the suit in 2013 after U.S. Supreme Court ruling in a separate case made clear that U.S. courts would not have jurisdiction in a claim involving two foreign firms in an overseas dispute.

    In 2916, it filed in South Africa, where the case has been stuck in procedural wrangling since.

    “Turkcell’s claim is opportunistic, an abuse of the process of Court, baseless and without merit,” MTN said in a statement after filing a defence plea.

    Turkcell was not immediately available to comment.

    MTN obtained the license in Iran in 2005 and maintains that Turkcell missed out because it would not comply with an Iranian rule that caps the shareholding in the license at 49 percent.

    Iran is MTN’s third largest market out of the 22 countries the company operates in.

    MTN previously appointed a retired British judge to lead an external investigation into Turkcell’s allegations. That probe dismissed the accusations as “a fabric of lies, distortions and inventions”.

    NAN

  • Oil price now $57.8 over fears of new Iran sanctions, Iraq conflict

    Oil price now $57.8 over fears of new Iran sanctions, Iraq conflict

    Oil markets jumped on Monday on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq.

    An explosion at a U.S. oil rig and reduced exploration activity also supported prices there.

    Brent crude futures, the international benchmark for prices, were at 57.85 dollars.

    There were also concerns about the stability of Iraq, the second biggest oil producer within OPEC behind Saudi Arabia.

    Iraqi forces on Sunday began moving towards oil fields and an important air base held by Kurdish forces near the oil-rich city of Kirkuk, Iraqi and Kurdish officials said.

    An explosion overnight at an oil rig in Louisiana’s Lake Pontchartrain drew market attention, with at least six people injured.

    U.S. crude prices were also supported by drillers cutting back the number of rigs looking for new production.

    U.S. West Texas Intermediate (WTI) crude futures were trading at 51.89 dollars per barrel, up 44 cents, or 0.9 per cent.

    Drillers cut five rigs in the week to Oct. 13, bringing the total count up to 743, the lowest since early June, General Electric Co’s Baker Hughes energy services firm said late on Friday.

     

  • Iran urges OPEC to act on Nigeria, Libya output

    Iran urges OPEC to act on Nigeria, Libya output

    The commitment of the Organisation of Petroleum Exporting Countries (OPEC) to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh has said.

    Compliance with the output cuts is “acceptable,” Zanganeh told reporters in Tehran. The Organisation of Petroleum Exporting Countries should focus on “the situation with Libya and Nigeria,” he said, referring to the two countries exempted from capping production due to their internal strife.

    “OPEC’s actions are working and compliance is acceptable overall, although there needs to be some change,” Zanganeh said, referring to OPEC members’ compliance with their pledges to pump less. “Changes are really related to Libya and Nigeria and the 100 percent compliance of everyone.” He didn’t elaborate.

    OPEC and other global producers including Russia agreed to maintain output cuts through March to end a price rout that has battered their economies since 2014. Iran was part of the deal reached last year, though it was given special permission to raise output by 90,000 barrels a day. Libya and Nigeria were not part of the deal and have since increased production, complicating the efforts of the suppliers to reduce the glut. Benchmark Brent crude has dropped by about half from its 2014 peak.

    OPEC backs any action to help stabilize the oil market, and if a meeting is needed for the group to decide whether to extend the cuts that expire in March, “we’ll arrange it,” Zanganeh said.

    Iran “will consider everything within the framework of our national interest and cooperation with OPEC,” he said when asked whether the country would adjust its output.

    Iraq supports OPEC’s efforts to pare oil output and clear a global glut even as the group’s second-biggest producer plans to expand its own capacity to pump more, Iraqi Oil Minister Jabbar al-Luaibi said Sunday at a news conference in Baghdad.

    The country’s plan to boost capacity to 5 million barrels a day by the end of the year won’t affect crude markets, he said. Iraq won’t export all of its additional output, he said. The nation pumped 4.49 million barrels a day in August, data compiled by Bloomberg show.

    “The oil market’s status is stable, and we don’t accept that any country exceed its share” under OPEC’s deal to cut production, he said. “We support OPEC’s position to stabilize markets.”

    Iraq is seeking to rebuild its energy industry after decades of conflict, and al-Luaibi sought to reassure oil markets a day before the country’s energy-rich, self-governing Kurdish area plans to vote on a referendum on independence. The central government opposes the vote, which many global powers say could create further instability in a region convulsed by war. The Kurds plan to include the disputed Kirkuk region, home to Iraq’s oldest producing oil fields, in the referendum.

    Oil should be left out of the political wrangling over control of Kirkuk, al-Luaibi said. Kurds, Arabs and Turkmens are all competing to control Kirkuk, making it a potential flashpoint for conflict. The Baghdad-run North Oil Co. is currently pumping 500,000 barrels a day in northern Iraq, he said.

    Iraq’s government is still in discussions with Royal Dutch Shell Plc, which quit Iraq’s southern Majnoon field and plans also to withdraw from the West Qurna-1 deposit, al-Luaibi said. It’s not talking with any other oil companies about replacing Shell, he said.

    “We have no problems in finding international companies” to replace the oil major, al-Luaibi said, adding that Iraqi staff are capable of taking over from Shell.

    Iraq will soon sign a deal with Iran to jointly invest in two oil fields, he said, without giving a date. It’s also in talks with Kuwait to jointly develop four fields and to ship surplus natural gas to Kuwait, he said.

  • Iran defies Trump, tests missile

    Iran defies Trump, tests missile

    Iran said it has successfully tested a new-medium range missile, in defiance of United States President, Donald Trump.

    The launch of the Khoramshahr missile, which has a range of 2,000 km (1,242 miles), was shown on state TV.

    It is unclear when the test took place, the BBC reports.

    At the United Nations on Tuesday, Mr. Trump criticised Iran’s missile programme and the 2015 nuclear deal with the country.

    On Friday, Iranian President Hassan Rouhani said Iran would increase its military power “as a deterrent.”

    The Khoramshahr missile was first displayed at a military parade on Friday in Tehran.

    It is capable of carrying multiple warheads, Iranian media report.

    Iran’s Defence Minister, Gen. Amir Hatami, outlined the missile’s “unique specifications.”

    “The ability to evade the enemy’s air defence line and to be guided from the moment of launch until the target is hit turns Khoramshahr into a tactical missile,” he said.

    Iran would “not seek permission from any country for producing various kinds of missile,” he added.

     

     

  • UN: Netanyahu bows hot as secretary-general makes first regional trip

    UN: Netanyahu bows hot as secretary-general makes first regional trip

    Israeli Prime Minister, Benjamin Netanyahu, issued a scathing criticism of the UN on Monday as the Secretary-General, Antonio Guterres, began his first visit to the country.

    At the opening remarks of Netanyahu’s meeting with the UN chief, the prime minister accused the UN of failing to prevent arms shipments to the Shiite militant group Hezbollah in Lebanon.

    He added, that Iran is seeking to open a front against Israel on the Lebanese and Syrian borders.

    “[Iran] is also building sites to produce precision-guided missiles towards that end in both Syria and in Lebanon.

    “This is something Israel cannot accept. This is something the UN should not accept,” Netanyahu said, without offering specifics.

    Iran and Hezbollah are fighting alongside Syrian President ‘s government in the Syrian civil war, which has killed hundreds of thousands.

    The prime minister added that he believes the UN has an “absurd obsession” with his country.

  • Enugu: Much ado about Iran’s investment

    Some years ago, Nigerians welcomed the advent of social media as channels of communication and information. It was invented to speedy dissemination of information and to promote effective communication. As good as it is, Nigerians have speedily turned it to rumour mill and a means of promoting and propagating hate speeches, lies, misinformation, divisive politics and propaganda. Mischievous Nigerians have also latched on its non-regulation by any agency to abuse it to the detriment of the peaceful co-existence of the country.

    That is why today almost every Nigerian is either a blogger or an online journalist, without a clear identity or particular address. All it requires is for one to get a Chinese handset, recharge date, sit down in the comfort of a home to be fabricating lies and sending out on the social media platforms undisturbed.

    They are always handy to be hired by politicians or any other persons to blackmail and demonise their perceived enemies without being tracked or traced. Many Nigerians, being gullible and lazy researchers and readers, usually rely social media platforms as news to form opinions. This is even when it is a basic rule in information dissemination that the sources of information are more important and credible than information itself. But who cares especially when some Nigerians for reasons best known to them have decided to replace credible news with rumour mongering and hate speeches?

    This was exactly what happened in Enugu recently after the Ambassador of the Islamic Republic of Iran to Nigeria, Morteza Rahimi Zarchi, spoke at the Government House, Enugu, during a courtesy call on the governor. He stated that he was in Enugu to see to the feasibility of establishing an Iranian Hospital, modeled after the one in Dubai, at the ongoing Heliu Residences Project in Enugu. The governor, Ifeanyi Ugwuanyi in his response said that his administration is fully committed to the sustenance of an environment that is conducive for businesses and other developmental initiatives in the state, as well as necessary legislations, institutional frameworks, favourable tax regime amongst others.

    As a background,  a private firm, FIT Consult Ltd, developing the Heliu Residences project in Enugu had invited the diplomat to the state to undertake a feasibility study of establishing an Iranian Hospital, modeled after the one in Dubai at the ongoing estate. The ambassador while in Enugu paid a courtesy visit to the Government House, Enugu, where he informed the governor of his mission to the state. At the meeting, no MOU was signed and no bilateral agreement was reached.

    With this, which happened in the broad daylight and covered by the print and broadcast media, some hired elements operating on social media platforms twisted the event by alleging that Enugu State government signed bilateral agreement with the Iranian government to build a world class hospital in the state as a step to Islamise the region!

    What a failed attempt to mislead and pitch the people of the state against the governor, Ifeanyi Ugwuanyi, who has not only provided leadership, but has provided enabling environment for the peace that is attracting investors. But this is not unexpected as more of it will come, especially as 2019 elections are drawing nearer.

    It would be recalled that on assumption of office, Ugwuanyi’s government organised an investment summit where the economic potentials of the state was showcased to the world. Since then, investors across the country and outside have seen the state as a destination because of its peaceful and friendly environment.

    From the above scenario in Enugu, the questions are – where did the Enugu State governor go wrong in welcoming the Iranian Ambassador that was brought to the state by a private estate developer? When has it become an offence for a governor to assure an investor of enabling environment to operate? Does the state government have any power to stop private investors from attracting partners from outside the country? This is especially when such investors have received clean bill of health from the relevant security agencies.

    The problem is that Nigerians have failed to realise the limit of politics. Politicising developments is one of the major hindrances to rapid development and Nigeria is not an exception. The Enugu event reminds one of when the idea of Islamic Bank was initially mooted during the administration of President Goodluck Jonathan and some people kicked against it, expressing fear that the country will be Islamised through it. All sorts of rumours and propaganda were peddled to frustrate the establishment of the bank in Nigeria. But President Jonathan saw beyond the sentiments and emotions being bandied by some people and gave the order for the licensing of the bank which is today known as Jaiz Bank.

    Delivering a keynote address at the Nigeria Bar Association (NBA) conference in Port Harcourt in August 2011 on the topic titled: “Sustaining an Enduring Democracy in Nigeria,” Nobel Laureate, Prof Soyinka said the fears that greeted the proposed Islamic banking were unnecessary, as long as the proposition does not contravene the law”.   He said laws do exist in the banking sector, even as he said the country can practise any form of banking as long as such practice does not go against extant rules and regulations in the land. He also said the proposed Islamic banking which exists in other climes should not be an issue because it was not responsible for the scores of developments that have dragged the Nigeria backwards, including the Niger Delta crisis, the Boko Haram or the epileptic power supply the country was experiencing over the years.

    “Does the entry of Islamic banking contravene the law? Why is it much of an issue and attracting inflammatory?”

    Today many state governments have taken and still taking lower interest loans from the Jaiz Bank to develop their states. None of those who kicked against its establishment is kicking against getting loans from the bank at lower interest rate for development. Who knows if after building the worldclass hospital in Enugu, the Iranian government and its Nigerian investor will employ Nigerians as workers and provide healthcare services at affordable rates. This cannot be ruled out, what happened in Jaiz Bank.

     

    • Ude, wrote from Amokwe,Udi, Enugu State. 
  • Rouhani appoints two women vice presidents

    Rouhani appoints two women vice presidents

    Re-elected Iranian President Hassan Rouhani on Wednesday appointed two women as vice-presidents and one woman as a presidential assistant in the newly formed cabinet.

    According to the appointment letters signed by the Iranian president, Laaya Joneidi replaced Majid Ansari as vice president for legal affairs.

    Ms Masoumeh Ebtekar, was also appointed as vice president for women and family affairs, previously held by Shahindokht Molaverdi, who the president appointed the assistant on citizenship rights.

    Rouhani was sworn in the presidential office on Aug. 5 after being re-elected for the second term in May.

    On Tuesday, the president presented an all-male list of 17 ministers to the Iranian parliament for approval, a move which was widely criticized by pro-Rouhani reformist groups in the country.

    The Iranian cabinet has 12 vice presidents, with one of them occupying the position of the first vice president,

    who chairs government meetings in the absence of the president.

    In post-revolutionary Iran, the only female holding a ministerial office was Marzieh Vahid-Dastjerdi, who acted

    as the health and medical education minister during the second presidential term of Mahmoud Ahmadinejad in 2009 to 2013.

  • Nigeria, Iran seek partnership in technology

    Nigeria, Iran seek partnership in technology

    The Nigerian Government and its Iranian counterpart on Thursday expressed their willingness to strengthen partnership in technology.

    The Minister of Science and Technology, Dr Ogbonnaya Onu, and the Iranian Ambassador to Nigeria, Mr Morteza Zarchi, made the commitment when Zarchi paid a courtesy visit to minister in Abuja.

    Onu expressed Nigeria’s desire to consolidate relationship with Iran, especially in the area of technology.

    According to him, both countries have had warm relationship, noting that there is need for the relationship to grow from strength to strength.

    “I must commend you for the good work you have done to promote good relationship between Iran and Nigerian.

    “I also commend Iran for her commitment in using science and technology for nation building.

    “At one of the conferences I attended representing my country in Pakistan, your minister of science and technology told us that Iran as of last year, was investing 1.2 per cent of your GDP in science and technology.

    “ There is that decision to even boost allocation of more resources to science and technology because you understand and appreciate the importance and relevance of science and technology to nation building.’’

    Onu said that Nigeria was also working hard in using science, technology and innovation‎ as tools for nation building.

    The minister said that science and technology would help Nigeria to use its resources more efficiently to create jobs.

    He told the ambassador that Nigeria would be happy to cooperate with Iran.

    Zarchi stressed that Nigeria and Iran were exploring sources of revenue by diversifying their economies to technology and agriculture.

    He said that Iranian investors were interested in partnering with Nigeria in the science sector.

  • Iran fires missiles at militant groups in eastern Syria

    Iran fires missiles at militant groups in eastern Syria

    Iran fired missiles on Sunday into eastern Syria, aiming at the bases of militant groups it holds responsible for attacks in Tehran which left 18 dead last week, Iran’s Tasnim news agency reported.

    Tasmin reported that Iranian Revolutionary Guards launched the mid-range ground-to-ground missiles from western Iran into the Deir al Zour region of eastern Syria, killing a “large number” of terrorists and destroying their equipment and weapons.

    The news agency reported that missiles targeted the “headquarters and gathering centers of Takfiri terrorists supporting and building car bombs”.

    Reuters could not independently verify the report.

    Military leaders and officials in Iran, a predominantly Shi’ite country, often refer to Sunni Muslim radicals as Takfiris.

    The Revolutionary Guards are fighting in Syria against militant groups who oppose President Bashar al-Assad.

    The attack last week, which included shootings and at least one suicide bombing, was on Iran’s parliament and the shrine of Ayatollah Khomeini, the founder of the Islamic Republic.

    “The spilling of any pure blood will not go unanswered,” the Revolutionary Guards said in the statement quoted by Tasnim.

    Islamic State issued a statement claiming responsibility for the Tehran attack.

    Senior Iranian officials, however, have pointed a finger at Saudi Arabia, Iran’s Sunni regional rival.

  • Iran denounces new U.S. sanctions on ballistic missile programme

    Iran denounces new U.S. sanctions on ballistic missile programme

    The Iranian Foreign Ministry on Thursday denounced the new series of sanctions imposed by the U.S. on its ballistic missile programme, calling them illegal and unacceptable.

    The ministry in a statement said Iran’s right to strengthen its military capabilities is not a violation of the country’s nuclear agreement with world powers.

    On Wednesday, the U.S. Treasury Department placed sanctions on Iran over concerns about its ballistic missile programme.

    The new sanctions designate seven entities, including two top Iranian defence officials and a China-based network supplying material to Iran’s missile programme.

    One of the Iranian defence officials was involved in explosives sales to Syria.

    Iran contends the sanctions are a breach of a deal it reached in July 2015 with the five permanent members of the UN Security Council plus Germany, which permits Iran to use nuclear power for civilian purposes in return for dropping sanctions.

    Iran is prohibited from undertaking any activity related to ballistic missiles designed to be capable of delivering a nuclear weapon, under UN Security Council resolution 2231.

    The U.S. State Department said Wednesday that Trump’s administration is re-evaluating its relationship with Iran, including whether to remain in the nuclear deal, but is meanwhile taking action against Iran over human rights abuses, its missile programme and other areas of concern.