Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.

Swiss reserve hike hits UBS

The reserve requirement will increase from 2.5% to 4% from July 1.

Russia, Iran eye trade and economic collaboration

Russian President Vladimir Putin on Monday recognised the independence of two separatist regions in eastern Ukraine in an address on state-run television. File photo (AFP)
  • A treaty on mutual relations and principles of cooperation between Iran and Russia turned 20 on March 12, 2021
  • The diplomatic apparatus of Russia and Iran described the treaty as a turning point in both countries’ relationship

Russian President Vladimir Putin has invited Iran’s President Ebrahim Raisi in Moscow for discussion over expanding strategic cooperation, according to a report in the official Islamic Republic News Agency (IRNA) of Iran.

The Raisi administration said that the visit is aimed at developing mutual and multilateral ties, and prioritizing trade and economic collaborations in the region.

Raisi expressed gratitude to Vladimir Putin on November 17, saying that Tehran was ready to finalize a comprehensive agreement on long-term cooperation.

The New Year is expected to witness a positive step in enhancing strategic relationship between Russia and Iran, despite all challenges ahead including the Joint Commission meeting of the Joint Comprehensive Plan of Action (JCPOA) — the official name of the nuclear deal Iran had with world powers from 2015 until 2018, when then US President unilaterally walked out of it — in Vienna.

A treaty on mutual relations and principles of cooperation between Iran and Russia turned 20 on March 12, 2021.

The diplomatic apparatus of Russia and Iran described the treaty as a turning point in both countries’ relationship.

Russian and Iranian officials are going to expected to ink another 20-year-long cooperation agreement during Raisi’s stay in Moscow.

Zvezda, a Russian TV network, reported that this treaty was very important for both nations, adding that it consists of different projects such as transportation, fisheries, power plant, and iron factory.

Russia and Iran have cooperated in several projects and issues, including in the Shanghai Cooperation Organization and Gas Exporting Countries Forum (GECF).