Financial Tribune

  • Central Bank of Iran Against Market Intervention

    Central Bank of Iran's Governor Abdolnasser Hemmati said the regulator's policy under his watch continues to be non-intervention in the foreign exchange market.
    "We have said repeatedly that we do not interfere with the [exchange] rate and the market will stabilize itself," Hemmati told reporters on Wednesday after the weekly meeting of the Cabinet. 
    He added that the main weight of the currency market is directed toward the Secondary Forex Market and that currently 95-96% of imports take place in the secondary market, ISNA reported. 
    Hemmati noted that the sheer size of the secondary market will exert its impact on stabilizing the rates. 

  • President Hassan Rouhani addressing a cabinet meeting in Tehran on Wednesday

    President Hassan Rouhani said the agreement signed by the five Caspian Sea littoral states' leaders in...

  • In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).

    Turkey has raised tariffs on some US imports, including passenger cars and tobacco...

  • Private Investors Get Green Light for Renewable Exports

    The Energy Ministry has called on the Renewable Energy and Energy Efficiency Organization—a state-owned entity also known as Satba—to prepare the ground for private sector investment in and export of renewables.
    According to the directive, Satba is obligated to devise the regulations and establish the infrastructure for investors to generate and sell electricity to foreign buyers.
    Peyman Taqipour, a director at Satba, told Financial Tribune that Satba has made available the tools through which all domestic and foreign investors are welcome to start new ventures.
    "Accordingly, legal or natural entities keen on producing renewable energy in the country will be granted land and network access," he said.

  • World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.

    Cyclical indicators point to slower and more uneven growth in the global economy for...

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