Iran and Italy will sign a basic agreement based on which Italian companies would receive €5 billion in loans for their investments in Iran’s development projects.

Iran’s Minister of Economy and Financial Affairs Masoud Karbasian says a recent agreement with Russia over the creation of a credit line to fund Iranian projects will help promote trade between the two countries.

Concerns are growing over the rising number of bad loans in India with financial institutions warning that this could eventually create a shock to the global banking system.

Four Iranian banks have signed an agreement with the Export Insurance Agency of Russia (EXIAR) which enables them to receive “unlimited funds” over development projects in the country.

Bailout negotiators have returned to Greece to try and reach a deal by the end of the year on the terms for the next loan payout.

China's CITIC Group has signed an agreement with five Iranian banks to provide a credit line of $10 billion for Iran's infrastructure projects.

Iran says it expect to clinch foreign finance deal worth a collective of about $30 billion in the near future. 

The International Monetary Fund is going to initiate a “new instrument” to provide states with support but no money.

Electricity minister Mohamed Shaker said on Thursday the new charges would apply as of July, which are likely to further deepen the economic woes of most Egyptians.

The IMF will not approve a new $1 billion loan payment for Ukraine as scheduled due to the trade blockade imposed on territories held by Russian-backed forces.