With Libya at the helm, and Iran, Cuba and Pakistan among the 20 nations participating, a United Nations-convened meeting in Geneva next week will begin to lay the groundwork for a global conference on racism in 2009.

Central Bank of the Islamic Republic of Iran has warned German banks that their withdrawal from the country may result in business disadvantages in the future, the bank’s vice governor Mohammad Jafar Mojarrad said.

The production line for manufacturing an Iran-made intelligent bomb called ‘Ghased’ will launch operation next week.