Siemens signs Iran rail contract as Germany drums up business

Germany’s Siemens signed a contract to upgrade Iran’s railway network on Monday, one of several deals agreed by German firms during a two-day visit to Tehran by Economy Minister Sigmar Gabriel.

Gabriel has flown to Iran with a planeful of 120 managers who are keen to re-establish business relations with the Islamic Republic after it reached a landmark deal with world powers last year to scale back its disputed nuclear program.

But political concerns, and a range of U.S. sanctions still in place, have so far held back a hoped-for business boom.

EXCLUSIVE: China sells fighter jets to Argentina which are able to attack Falkland Islands

ARGENTINA is to purchase sophisticated Chinese fighter jets able to attack the Falkland Islands as part of a “strategic partnership” with Beijing.

The move, which further raised tensions in the South Atlantic last night, follows a three-day visit by President Kristina de Kirchner to Beijing last week, in which Argentina secured 15 economic agreements and significant financial investment to bolster its failing economy.