InfoAnda - Central bankers to meet as Iran, India oil row escalates

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Pepsi inks deal to produce, sell snacks in Japan | 25 June 2009
Disaster looms as oil slick reaches US coast | 1 May 2010
Thai cowboys saddle up to celebrate Wild West | 27 February 2010

Teen Beaten To Death At Party | 9 November 2010

Forum Views () Forum Replies ()

Read more with google mobile : Central bankers to meet as Iran, India oil row escalates

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Central bankers to meet as Iran, India oil row escalates Reuters - Thursday, December 30 Send IM Story Print By Nidhi Verma and Rajesh Kumar Singh NEW DELHI - A payments dispute between India and Iran escalated after Tehran refused to sell oil to India under New Delhi's prohibitive new rules, sources on both sides said on Wednesday. The Indian sources said officials from the central banks of the two countries will meet on Friday as Iran seeks to rescue trade worth around $12 billion a year, at risk from rising U.S. pressure on countries trading with Iran to abandon all dealings. Last week, the Reserve Bank of India said deals with Iran must be settled outside the Asian Clearing Union system, used by central banks of member nations to settle bilateral trades. Analysts predicted talks would be tough and that New Delhi may face a costly bill if it abandons Iranian oil imports. Iran is under global pressure over its nuclear programme, and though United Nations sanctions do not forbid the purchase of Iranian oil, the United States has pressed hard for governments and companies to stop dealing with Tehran. India is the biggest buyer of Iranian crude among ACU members, with state-owned refiners and privately owned Essar Oil taking around 400,000 barrels per day. Two Indian industry sources said on Wednesday that National Iranian Oil Co had turned down Indian oil firms' request for payments outside the ACU. The ACU includes the central banks of India, Bangladesh, Maldives, Myanmar, Iran, Pakistan, Bhutan, Nepal and Sri Lanka. "Indian firms had asked Iran to immediately nominate a bank in Europe through which payment can be made. But NIOC refused," said one of the sources. When asked if NIOC was willing to accept any mechanism outside the ACU, a NIOC source said: "It is not acceptable to NIOC as this exercise...in place for so many years." Iran's central bank requested a meeting with its Indian counterpart, a Reserve Bank of India spokesperson said, adding no date had been set. But an oil industry source, who will take part in the meeting, said the talks would be on Friday in Mumbai. He said India's oil ministry has suggested that RBI stick to the old mechanism of guaranteed payments for oil for now. Ambika Sharma, Deputy Secretary General at the Federation of Indian Chambers of Commerce and Industry, said: "The two central banks could look at settling the trade transaction in a currency other than the euro and the U.S. dollar" U.S. PRESSURE Indian analysts said the oil dispute was the result of U.S. pressure on the international community to stop dealing with Tehran to force it to abandon its nuclear programme. The White House on Wednesday praised the Reserve Bank of India for reducing its dealings with Iran's central bank. "We think the Reserve Bank of India has made the right decision to carefully scrutinize and reduce its financial dealings with the Central Bank of Iran," White House spokesman Tommy Vietor said in an email. "This latest action adds to the growing list of companies, financial institutions and governments that are increasingly concerned about Iran's misuse of trade and financial relationships to support illicit activity, including its nuclear programme." Tehran says it pursues only peaceful goals and is not trying to build a nuclear bomb. U.S. President Barack Obama visited India last month and promised to help New Delhi boost its global role, including by supporting its bid for a permanent U.N. Security Council seat. "Iran is already struggling to place their crude in the market, and any stoppage of supply to India will further escalate the problem specially when series of sanctions are imposed on them," said Praveen Kumar, who heads consultancy FACTS Global Energy's South Asia oil and gas team. However, India would not want to see ties fray with Tehran, which it sees as an ally in stabilising Afghanistan after U.S. troops leave in 2014. It is also sensitive to internal criticism that the decision was taken due to U.S. pressure. Recommend Send IM Story Print Related Articles Injured Ponting 'devastated' at missing 5th Ashes Test AFP - 2 hours 40 minutes ago N.Korea adds more special troops, tanks: S.Korea AFP - 1 hour 24 minutes ago China steps up crackdown on Internet phone services AFP - 1 hour 37 minutes ago Secret Men's Business 3.5 wins Sydney to Hobart AFP - 1 hour 39 minutes ago Indians to outnumber Chinese in 2025: US AFP - 1 hour 47 minutes ago News Search Top Stories Bolivians to march against fuel price hike Brazil's Petrobras confirms big oil find Deadline looms for Billy the Kid pardon French model known for anti-anorexia ads dies Portugal says to issue 20 bln euros in bonds in 2011 More Top Stories » ADVERTISEMENT Most Popular Most Viewed World's oldest human remains claimed in Israel Reese Witherspoon engaged to Hollywood agent Elton John and partner become parents: report Shredding bad bits of 2010 is best revenge PepsiCo's Russia deal wins Putin's blessing More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Thursday, 30 December 2010
Factbox
Value of new London listings soars sixfold in 2010
Bashir sets Thursday deadline for Darfur talks
'Mumbai-style' massacre plot foiled in Denmark
New botanic database holds a million plant names
Taylor Swift Tops Post-Christmas Week On Billboard Albums Chart With "Speak Now"
ECB says Eurozone credit growth picking up
Jay Leno Replaces Comedian Lewis Black For South Florida Stand-Up Gig
Vatican to announce new money laundering rules |
China corruption 'still very serious'
US-ENTERTAINMENT Summary
Armored car sales jump as drug war batters Mexico |
Reese Witherspoon engaged to Hollywood agent
Oscar nomination ballots sent to voters
S.Korea indicts two bankers for embezzlement
Bollywood's Dutt risks losing home over movie fee
Montenegro town's dream: from toxic dump to eco-tourism hub
US-ENTERTAINMENT Summary
Michelle Williams "proud" of "Valentine" sex scene
China delays NSN's $1.2 billion buy of Motorola unit |
U.S. makes amends for Wikileaks documents criticizing Chilean president
U.S. denies plotting overthrow of Ivorian leader
Original "V" Baddie Jane Badler Returns To Series Reboot
IBM unveils innovations to change the world in next five years
Small explosion at Miami International Airport lands man in federal custody
Taylor Swift Tops Post-Christmas Week On Billboard Albums Chart With "Speak Now"
Britney Spears Teaming Up With British Hitmakers Xenomania For New Album
Jay Leno Replaces Comedian Lewis Black For South Florida Stand-Up Gig
Michigan explosion traps three in furniture store
US-TECH Summary
Man confesses to murder, hiding body in luggage
Egypt president urged to free jailed Facebook user
Toy Story 3, Social Network top film review list |
Michelle Williams proud of Valentine sex scene |
Suicide bombers kill four in Iraq police station
Denmark and Sweden foil 'Mumbai-style' massacre plot
China shuts down 60,000 pornographic websites
Iraq civilian death toll lowest since invasion
Iraq civilian death toll lowest since invasion: study |
Bolivians to march against fuel price hike
Taliban fires rockets into main US base near Kabul
Belarus to charge fifth opposition candidate over riots
US online sales surge 13 percent for holiday period
Blast outside Athens court building, no injuries |
Brazil's Petrobras confirms big oil find
Deadline looms for Billy the Kid pardon
British feared Israel would nuke Arabs: archives
China shuts over 60,000 porn websites this year
French model known for anti-anorexia ads dies
Anger mounts in N.Ireland as burst pipes cut water supply
RIM offers data tapping at India office: report
Central bankers to meet as Iran, India oil row escalates |
Portugal says to issue 20 bln euros in bonds in 2011
Belarus charges opposition candidates with organising riots
Sony sues to block LG from shipping phones to U.S.
More talks needed in Ivory Coast crisis: envoys |
Putin, Medvedev to agree on presidential candidacy: PM
Cuba to cut soap and toothpaste from monthly ration |
Fear not Newark... your mayor uses Twitter
Russia races to deliver Khodorkovsky sentence
Bolivia fuel hike sparks tensions, government wary |
Technicolor to issue shares to pay back debt
US-TECH Summary
US-Venezuela row heats up, US revokes envoy visa
Sony sues to block LG from shipping phones to U.S.
Putin praises START treaty but warns on WTO
Global Weather-Celsius
"Toy Story 3," "Social Network" top film review list
N.Korea adds more special troops, tanks: S.Korea
False alarm over suspect package at US embassy to Vatican
China steps up crackdown on Internet phone services
Secret Men's Business 3.5 wins Sydney to Hobart
You couldn't make it up: offbeat stories from 2010
Indians to outnumber Chinese in 2025: US
Sony sues to block LG from shipping phones to U.S. |
New Year's concert once again in Austrian hands
Asian 'martyrs' underscore poor year for human rights
RIM offers data tapping at India office: report |
Jackson doctor defense may say singer killed self
Injured Ponting 'devastated' at missing 5th Ashes Test
China shuts over 60,000 porn websites this year |
"Star Wars" visual effects artist McCune dies
China political satire scores big at box office
Bruno Mars throws "Grenade" to top of singles chart
13 on trial over attack on Christians in Indonesia
American youngster best part of Italian "World"
Michael Jackson executors want TV "autopsy" canceled
Central bankers to meet as Iran, India oil row escalates
China's manufacturing activity slows in December
California woman arrested in insider trading case |
Pamela Anderson advert too racy for Hong Kong airport
US jazz pianist Billy Taylor dies at 89: report
LG pledges action against patent suit by Sony
Blue Valentine a dreary look at a decayed marriage
Taiwan regulator to check foreign capital operations
China's online population rises to 450 million
Pakistan
Korea Hot Stocks-NHN Corp, car insurers higher
China mulls export quotas on rare earth alloys: report
NZ govt insurer pays out $447 mln on Sept quake claims
S.Korea's industrial output rises in November
Seoul shares rangebound, 2011 recovery hopes rise
Jackson doctor defense may say singer killed self |
Jazz musician Billy Taylor dies at 89 |
Star Wars visual effects artist McCune dies |
Bruno Mars throws Grenade to top of singles chart |
Toy Story 3, Social Network top film review list |
Singer Edie Brickell resurfaces with two albums |
Blue Valentine a dreary look at a decayed marriage |
Michael Jackson executors want TV autopsy canceled |
American youngster best part of Italian World |
Taylor Swift, Susan Boyle lead U.S. album chart |
Bomb kills 14 Afghan civilians
Khodorkovsky faces new prison sentence
Israel's ex-president Katsav guilty of rape
Swiss franc hits record high vs dollar, euro, pound
Nintendo issues age warning on its 3D games
Khodorkovsky sentenced to six more years |
Afghan bomb blast kills 14 civilians
Denmark terror suspects remanded in custody
Pope acts to tackle money-laundering in Vatican
Danish court charges 3 men with attempted terrorism |
War-weary South Sudanese exiles reluctant to return
Denmark and Sweden foil 'Mumbai-style' massacre plot
Bruno Mars' "Grenade" Explodes Into The #1 Spot On The Billboard Hot 100 Chart
Israel's ex-president Katsav guilty of rape |
'At least 10 civilians dead' in Afghanistan blast
Danish terror plot suspects appear in court
Aishwarya Rai Bachnan Suing Elle Magazine For Skin-Lightening Reports Are False
Ivory Coast on brink of genocide: envoy to U.N. |
US-TECH Summary
Blast kills at least 14 civilians in Afghanistan
Israel revels in gas find but faces export hurdles |
Ryan Seacrest, Jenny McCarthy Talk Kissing At Midnight, Hosting "New Year's Rockin' Eve" In The Nude
U.S. worried by reports of Pakistan detentions: report |
Blast kills at least 10 civilians in Afghanistan
Roadside bomb kills 14 Afghans in south |
10 civilians killed in southern Afghanistan blast
Vatican enacts laws promising financial transparency |
North Korea threat grows with new forces: South report |
Islamist sect kills seven in latest Nigeria attack |
Hundreds flee rising Australian floods
EU 'could end China arms embargo'
North Korea threat grows with new forces
U.S. worried by reports of Pakistan detentions
Malaysia grants public holiday for ASEAN Cup win
RIM dismisses claims of PlayBook battery weakness |
Russia calls on Koreas to stop "muscle flexing"
Groupon eyes IPO by end of 2011: report |
Thai "yellow shirts" jailed for TV station attack
Canada is most Web-addicted nation: study |
Thailand urges Cambodia to free detainees
Crimes targeting foreigners decline in Bali
China defends rare earth quotas as in line with WTO |
Thai stock index could hit 1,200 but risks remain
Sears, Kmart launch Alpahline online video store |
Bruno Mars' "Grenade" Explodes Into The #1 Spot On The Billboard Hot 100 Chart
Michael Jackson's Estate Livid Over Discovery Channel's MJ Autopsy Reenactment Special
Man Arrested After Calling 911 On 'The Media'
Palestinians look to Security County to condemn Israeli construction
Boston Properties buy Hancock Tower for $930 million
Ohio Man Sentenced To More Than Two Years In Video Game Piracy Case
Bad weather costs nation's retailers $1 billion in lost post-Christmas sales
A Minute With: Bette Midler on New Year TV special |
Staff shortage causes slow snow cleanup in New York
Boney M frontman Farrell dies in Russia: agent |
USDA To Require Nutritional Labels On Meat
NY Law Requiring Graphic Smoking Posters Struck Down
Global concert box office tumbles 12 percent: Pollstar |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01