INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Iran to join Shanghai alliance with China, Russia next week: Lavrov

Russian Foreign Minister Sergei Lavrov gives a speech during the opening of the Shanghai Cooperation Organization (SCO) National Peoples's Diplomacy Centre in Moscow on June 30, 2023. (AFP)
  • Iran has intensified its diplomacy with friends and foes alike in recent months, seeking to reduce its isolation, improve its economy and project strength.
  • The SCO, which has its headquarters in China, is a diplomatic organization with eight members, including India and Pakistan.

Moscow, Russia — Iran will be formally approved as a member of the regional Shanghai Cooperation Organization with China, Russia and Central Asian countries, Russian Foreign Minister Sergei Lavrov said Friday.

“At the meeting of heads of state on July 4, the full membership of Iran will be approved,” Lavrov said at the opening of an SCO centre in Moscow.

Iran has intensified its diplomacy with friends and foes alike in recent months, seeking to reduce its isolation, improve its economy and project strength.

SCO membership was already on the cards and Iran is also hoping to be quickly accepted into another grouping that excludes Western countries — the BRICS group with Brazil, Russia, India, China and South Africa.

The SCO, which has its headquarters in China, is a diplomatic organization with eight members, including India and Pakistan.

Kremlin ally Belarus is also applying to join, and Lavrov said Friday that next week’s virtual summit would “begin the procedure” for that membership to go ahead.