News in Brief
First in water, electricity technology, engineering services
TASNIM – The Iranian energy minister said the country ranks first in the export of technical and engineering services in the water and electricity sector as this shows the high potential of experts in the country.
Talking about the significance of water-supply infrastructures in Tehran, Ali Akbar Mehrabian said on Sunday that Tehran is home to diversified water systems.
Commerce ministry to be established
IRNA – Iranian Parliament on Sunday passed a bill to establish the Ministry of Commerce.
A sum of 129 votes was cast in favor, 101 against, and four abstentions, out of the total of 238 lawmakers present in the Sunday session of the parliament.
India, UAE agree to trade in local currencies
BLOOMBERG –India and the United Arab Emirates (UAE) agreed to use their local currencies for cross-border transactions, amid attempts by Prime Minister Narendra Modi to increase the rupee’s role on the global stage.
The Reserve Bank of India said in a statement on Saturday that Modi and the central bank’s Governor Shaktikanta Das inked the agreement with the UAE’s President Sheikh Mohammed Bin Zayed Al Nahyan in Abu Dhabi.
The deal will facilitate seamless cross-border transactions and payments, and foster greater economic cooperation between the two countries.