Rebel News - Independent News and Analysis

Head of Iran's Trade Promotion Organization Babak Afghahi says Iranian goods will be sold with creditable trademarks in Kuwait's market.

"The Kuwaiti Union of Consumer Co-operative Societies is committed to sell Iranian goods with creditable trademarks in Kuwait's market," IRIB quoted Afqahi as saying on Wednesday.

New figures released on Wednesday show a strong year-on-year increase in China's exports, even better than forecasted before.

According to Chinese customs data, China's exports increased 45.7 percent to reach 94.5 billion dollars in February from a year earlier — fastest pace in three years.

The Brazilian government has announced increased trade tariffs against a variety of American goods in response to illegal US subsidies to cotton farmers.

Brazil on Monday published a list of 100 US goods subject to import tariffs that will go into effect in 30 days, unless the two sides can reach an agreement.

The deputy head of the National Iranian Oil Company (NIOC) said Tuesday the company is studying 22 oil and gas development contracts with foreign companies.

"Negotiations over four of the contracts are [almost] concluded," Hojatollah Ghanimifard told Fars news agency. "By finalizing these contracts, the Oil Ministry will accomplish all its contractual commitments under the country's fourth development plan."

Oil giant Total has announced the closure of its refinery in northern France but vowed to protect jobs by reassigning the workers to other plants.

As Total promised not to lay off 370 workers at the refinery, about 300 staff members stormed the company's offices in the La Défense business district near Paris on Monday.

Iran's gas exports will show a 35-percent rise in the current Iranian calendar year (ending March 20) compared with last year, says a senior energy official.

This is while the country's gas imports will show a decrease of 25 percent compared with the previous year, Iran's deputy energy minister said, IRNA reported.

Brazil has subjected a number of US goods to higher tariffs to retaliate against Washington's move to unlawfully pay subsidies to the US cotton producers.

The World Trade Organization has authorized the South American country to impose levies as high as 14 and 100 percent on US imported goods.

American International Group will sell an overseas unit to rival MetLife in a $15.5 billion deal which will help AIG pay back part of a government bailout.

MetLife will take over American Life Insurance Company (ALICO) for $6.8 billion in cash and $8.7 billion in MetLife stock, the two firms said in separate statements on Monday.

The head of the Iranian Offshore Oil Company (IOOC) says a European company is to invest in Iran's Lavan gas field in the Persian Gulf.

"The technical and investment details of the development plan of Lavan gas field have been agreed between Iran and the European firm," Mahmoud Zirakchianzadeh told Shana news agency on Monday.

An Iranian oil official says the world's oil industry executives and experts consider 100 dollars a barrel to be a fair price for crude in today's market.

"The average price of crude in the international market has been $75 a barrel since the beginning of the year, when its fair price should be around $100 a barrel," Iran's envoy to OPEC, Mohammad Ali Khatibi, told Mehr News Agency on Monday.