Iran’s Middle East Bank and Sina Bank will open branches in the Bavarian city of Munich by the end of the year, Iran’s central bank said. Iran is also in talks with the German central bank and other banks to settle oil exports in euros instead of dollars. Source: DW
The struggles of an automaker dubbed China’s answer to Tesla cast a shadow over the outlook for the country’s electric vehicle industry. The company, established in 2014, listed on the New York Stock Exchange last September. The restructuring came amid a steep decline in sales. Nio moved only about 4,000 units of its mainstay ES8 sport utility vehicle in the January-March quarter and 3,000 in April through June, down from around 8,000 in the last three months of 2018. Source Asian Review
The owner of a British-flagged tanker detained in Iran has met the country’s foreign minister, Mohammad Javad Zarif, to make the case for the ship and its crew to be released. Source Reuters
The United States will take every action it can to prevent an Iranian tanker from delivering oil to Syria in contravention of U.S. sanctions, Secretary of State Mike Pompeo warned. Source Reuters
