Financial Tribune

  • The Central Insurance of Iran (Bimeh Markazi) is the industry’s main regulator. 

    In its latest report on Iran's insurance sector, Capital intelligence, the international ratings agency, said addressing the structural problems of Iran’s insurance market is vital for strengthening the resilience of domestic insurers.
    CI Ratings has highlighted the need to consolidate Iran’s insurance market and move toward a more risk-based supervisory system.
    "Iran’s insurance regulation and supervision remain rather prescriptive and currently seems to be more focused on form over substance," CI's key report notes. 
    "For example, the tariffs are set by the regulator for about 70% of the sector’s premium volume, mainly for basic insurance products such as motor third-party liability." 

  • Iran’s non-oil foreign trade in March 21-May 21 stood at $14.53 billion, indicating an 11% rise compared with last year’s corresponding period.

    During the first two months of the current Iranian year (March 21, 2018), Iran had the biggest non-oil trade surplus and deficit with Iraq ($1.15 billion) and Switzerland ($348 million) respectively. 
    Exports to Iraq stood at $1.16 billion while imports from the neighboring country hit $2.7 million over the period under review. 
    Iran exported as little as $0.7 million worth of goods to Switzerland and imports reached $349 million during the same period, figures by the Islamic Republic of Iran Customs Administration shows. 

     

  • Oil prices fell on Monday after China threatened duties on American crude imports in a trade dispute with Washington.

    China’s threat to impose duties on US oil imports will hit a business that has soared in the last two...

  • Masjed Soleyman petrochemical project's Phase 1 construction site

    The construction operation of the mega petrochemical project in the city of Masjed Soleyman in southern Khuzestan Province is in a good stage of development, the CEO of Masjed Soleyman Petrochemical Industries Company said.
    "The project's Phase 1 has registered 80.11% progress and is projected to come on stream by the end of the current fiscal year [March 2019]," Yousef Davoudi was also quoted as saying by NIPNA on Monday.
    "The completion of the complex's utility facilities and installation of pipelines are also high on the agenda of the current year," he added.
    Davoudi noted that the project will help boost the petrochemicals' share of value-added exports.

  • Over 2.55 billion shares worth $169.2 million were traded at TSE on June 18.

    Tehran stocks showed no signs of backing down on their rally, as they further extended their historic high on Monday.
    Tehran Stock Exchange's primary index, TEDPIX, was up another 2.03% or 2,081.14 points to close at the unprecedented level of 104,533.5. This is TEDPIX's fourth day of straight growth.
    Analyzing the rally's trend shows that investors' interest is slowly moving away from the market as a whole and focusing on large-cap stocks.
    As for Monday, the equal-weighed main index grew only 0.35% or 63.79 points to 18,350.92. This is the highest it has ever been, but the growth has significantly slowed compared to the day before last's 2.2% jump.
    The same holds true for the Free Float Index, as it rose 1.9% or 2,141.7 points on Monday to extend its all-time high record to 115,125.31. The index had soared 3.2% on Sunday trade.

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