Skip to content
Search

Latest Stories

Iran and India agree to speed up major port project

Tehran and Delhi have agreed to accelerate the development of an important Iranian port, India's foreign minister said during a visit to the sanctions-hit Islamic republic on Monday (25).

Chabahar port -- being jointly developed by India, Iran and Afghanistan -- is on the Indian Ocean about 100 kilometres (62 miles) west of the Pakistan border.


But development has stalled, despite waivers to sanctions that the United States began reimposing last year after withdrawing from a landmark 2015 nuclear deal with Iran.

"Just concluded a very productive #IndiaIran Joint Commission Meeting," Indian Foreign Minister Subrahmanyam Jaishankar tweeted.

"Reviewed the entire gamut of our cooperation. Agreed on accelerating our Chabahar project," he added as he wound up a two-day visit to the Iranian capital.

Washington withdrew from the nuclear accord and reimposed sanctions on Tehran as part of a campaign of "maximum pressure" aimed at reducing its arch-enemy's regional role and missile programme.

The rare exemptions from the sanctions are due mainly to the pivotal role of the port, and a planned railway line, in breaking landlocked Afghanistan's dependence on Pakistan for trade.

Iran's President Hassan Rouhani said Monday in a joint news conference with Jaishankar that the project would boost trade in the region.

"Completing the Chabahar-Zahedan railway and connecting it to Iran's national railway can elevate the position of Chabahar port, revolutionise regional commerce and help transport goods on a cheaper and shorter route," he said.

Rouhani said maintaining regional security was an important topic for Iran and India.

"In the current situation where America stands against nations with unilateral sanctions, we have to try to continue bilateral cooperation.

"This situation certainly will not last, and America will be forced to stop its maximum pressure against Iran sooner or later," he said, without elaborating.

India stopped buying Iranian oil after the US abolished waivers for some countries in May, in a move meant to wipe out the Islamic republic's main source of revenue.

Despite tensions in their relationship, Iran and India have sought to move forward and develop partnerships.

More For You

Bank of England

The announcement from the Bank of England followed Donald Trump’s announcement of a trade agreement with Britain.

Reuters

Bank of England cuts interest rate to 4.25 per cent

THE BANK OF ENGLAND on Thursday cut its key interest rate by a quarter point to 4.25 per cent, citing concerns over slowing economic growth due to US tariffs.

This was the central bank’s fourth interest rate cut in nine months and had been widely expected by markets. The move comes in contrast to the US Federal Reserve, which decided on Wednesday to keep borrowing costs unchanged.

Keep ReadingShow less
Keir-Starmer-Getty

'Our India trade deal ... is good for British jobs. The criticism on the double taxation is incoherent nonsense,' Starmer said. (Photo: Getty Images)

Getty Images

Starmer rejects claims of favouring Indian workers in trade deal

PRIME MINISTER Keir Starmer on Wednesday dismissed criticism that the government had sold out British workers by offering tax exemptions to some Indian workers as part of the new free trade agreement with India. He called the claims “incoherent nonsense”.

The trade deal, announced on Tuesday, includes tariff reductions on British imports to India and allows some short-term Indian workers to be exempt from paying into Britain’s social security system for up to three years. The exemption is part of the Double Contributions Convention (DCC) and also applies to British workers in India.

Keep ReadingShow less
Direct flights will link Gatwick to Uganda

Lord Collins of Highbury and Nimisha Madhvani with other officials at the launch of the UK-Uganda Growth Dialogue in Kampala

Direct flights will link Gatwick to Uganda from May 18

LORD COLLINS of Highbury, the minister for Africa, concluded a two-day visit to Uganda last month, reaffirming the UK’s commitment to sustainable development, inclusive partnerships and mutual economic growth.

During the visit (April 3–4), the minister was welcomed by president Yoweri Museveni at State House.

Keep ReadingShow less
Brightsun Travel wins King’s Award for Enterprise in International Trade

Staff at Brightsun Travel, which won the King’s Award for Enterprise in International Trade

Brightsun Travel wins King’s Award for Enterprise in International Trade

A LEADING UK-based travel service provider has won the King’s Award for Enterprise for International Trade, a prestigious business honour.

Brightsun Travel recorded high turnover in the past three years despite the challenging business climate and disruption in the aftermath of the pandemic

Keep ReadingShow less
FTA ‘will elevate India to be Britain’s most trusted partner’

Sir Keir Starmer and Narendra Modi during their meeting in November 2024

FTA ‘will elevate India to be Britain’s most trusted partner’

WHAT does the Free Trade Agreement (FTA), welcomed on Tuesday (6) by the British and Indian prime ministers, Sir Keir Starmer and Narendra Modi, mean for Eastern Eye readers?

The FTA certainly opens up many more opportunities for British Indian businessmen (and women).

Keep ReadingShow less