Asia Headlines

India: Report – Iran Seeking Yen Payments For Oil

Bloomberg reports report that Iran has sought payment for oil in Yen as both nations strive to organise a payment mechanism for India’s state-run firms to import crude from Iran despite tightening economic sanctions. Citing “three people with knowledge of the matter”, who could not be named as negotiations are ongoing, the financial news site says that India proposed to pay for oil in rupees, but that the more convertible Yen was preferred by Tehran officials.


India: Government Increases Fuel Outlets for 'Other Backward Classes'

India's Federal Government has decided to reserve 27% of new fuel service stations and LPG agencies for 'Other Backward Classes', reducing the allocation for Scheduled Caste (SC) and Scheduled Tribe (ST) individuals. The move would open up more opportunities for traditionally marginalised citizens to establish businesses in fuel retail. 


India: “All eventualities” Considered on Iran Oil Purchases, says Reddy

India’s Petroleum Minister S Jaipal Reddy (pictured) has said that, while India has not had problems paying for crude oil from Iran, the countries must be prepared for issues in the future. “We continue to be optimistic. Iran continues to be positive. However we have to be prepared for all eventualities,” said Reddy, speaking to reporters in New Delhi.


Australia: Gunnebo Makes Key Management Changes

Gunnebo Security Group has announced a number of key changes to its management team, including the appointment of Morten Andreasen as Senior Vice President for the Europe, Middle East and Africa region. Christian Guillou has been appointed as Senior Vice President of Secure Storage, Tomas Wängberg has been appointed as Senior Vice President for the Americas region, and Per Borgvall, CEO of the group is to become acting Senior Vice President for Group Support.
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