Islamic Revolution Guards Corps troops killed two suicide attackers in Iran's southeastern province...
Islamic Revolution Guards Corps troops killed two suicide attackers in Iran's southeastern province...
Errors by the pilot and the airline's negligence are to blame for a plane crash in a mountainous region of central Iran that killed 66 people last month, according to aviation authorities.
A preliminary report by the Civil Aviation Organization was published on Sunday, shedding some light on the February 18 crash of an ATR-72 twin-engine passenger turboprop operated by Aseman Airlines.
The aircraft, which was flying to the southwestern city of Yasuj, dropped off the radar after taking off from Tehran as a snowstorm battered the Zagros Mountains.
In a Cabinet meeting on Sunday, President Hassan Rouhani expressed firm support for the three ministers facing impeachment urging them to put forward a clear and detailed explanation of their services in the upcoming hearings.
Minister of Cooperatives, Labor and Social Welfare Ali Rabiei and Minister of Roads and Urban Development Abbas Akhoundi are slated to be impeached in separate sessions on Tuesday and Agriculture Minister Mahmoud Hojjati will appear before parliament on Wednesday.
While acknowledging the right of parliament to question government officials, Rouhani voiced disapproval of legislators' hasty decision, the president's official website reported.
Foreign Minister Mohammad Javad Zarif and Peter Maurer, president of the International Committee of the...
In an effort to boost military ties with India, three naval warships from the Islamic Republic of Iran Navy docked at Mumbai port from March 6 to March 10.
Iran called for a speedy probe into a “suspicious” attempt to launch a knife attack on the residence of Tehran’s ambassador in Vienna, saying the motive behind the incident remains unknown.
Foreign Minister Mohammad Javad Zarif attended a business forum with his Pakistani counterpart, Khawaja Mohammad Asif, on Monday as part of an effort to achieve a five-billion-dollar target of bilateral trade.
"Efforts need to be redoubled by the two sides to fulfill the target set by the two countries' top officials in 2016 to raise bilateral business to as much as five billion dollars within five years," Zarif told Iran-Pakistan Business Forum in Islamabad on Monday.
He called for closer cooperation between the two sides' banking sectors, which is the key to trade efforts.
"Despite the considerable increase in business relations between Iran and Pakistan, they still can be developed far beyond the current level given the untapped potential and resources available in the two countries," Zarif was quoted as saying by IRNA.
Egypt’s Petroleum Ministry is in the process of issuing a global tender before the end of this year to explore...
Oil prices fell on Monday on expectations that US output will rise this year, erasing earlier gains buoyed by lower weekly US rig counts and falling US unemployment.
Growth in global energy demand through 2040 will be driven by increasing prosperity and ...
Iraq’s Oil Ministry on Monday said the nation would reduce its petroleum products' imports by 25%, as crude oil refineries are being rehabilitated following the destruction caused by the self-styled Islamic State terrorist group.
Abu Dhabi National Oil Company said on Sunday it has signed 40-year agreements with Eni, awarding...
Euro-4 gasoline indexes are regularly checked to ensure they do not violate international standard levels, director of the Comprehensive Monitoring Office at the Department of Environment said.
"The critical factors, namely octane number, aromatic compounds, olefin, sulfur and benzene, should stand at 91, 35%, 18%, less than 50 parts per million and less than 1% respectively, most of which show improvement in domestically produced gasoline," Shina Ansari was also quoted as saying by Shana.
An octane rating, or octane number, is a standard measure of the performance of an engine or aviation fuel. The higher the octane number, the better the quality of fuel.
Pointing to recent improvements in meeting standard criteria, she said, "As of October 2017, gas stations have been monitored randomly in Tehran Province and compared to previous years, the level of aromatic compounds as well as benzene has decreased notably."
"In line with efforts to protect the environment, so far, some 50 random samples from different filling stations have been scrutinized, which will reach 100 by the end of the current fiscal [March 20]," she added.
The National Iranian Oil Company has signed deals with five top Iranian universities on studying the country's hydrocarbon reserves and conducting oil and gas discovery activities.
The contracts were signed in the presence of Bijan Namdar Zanganeh, the oil minister, and Mansour Gholami, the minister of science, research and technology, in Tehran on Monday, NIOC's news portal reported.
As per the deals, Shahid Beheshti University, Ferdowsi University of Mashhad, Kharazmi University of Tehran, Shahroud University of Technology and Shahid Chamran University of Ahvaz in Khuzestan Province were assigned to conduct research and development studies on different oil and gas blocks.
A total value of about $2.5 million has been allocated to the five contracts, which are planned to be carried out in 10 years.
Shahid Beheshti University will help the Oil Ministry develop modern geochemical observatory technologies based on hydrocarbon discoveries in the sedimentary basins of northern Dezful.
Supplying electricity to villages in far-flung areas is on the agenda of Iran Power Generation, Distribution and Transmission Company (Tavanir), the head of the rural electricity supply project said.
“Tavanir plans to link 400 villages to the national power network that do not have a rural code and are hard to access,” Valiollah Maslehati Sharabiani was quoted as saying by ILNA on Monday.
Noting that 30% of Iran’s population live in rural areas, Sharabiani added that the Energy Ministry aims to supply power to all villages with at least 10 households.
According to the official, some Iranian villages, such as those in north Kerman Province, are now being provided with electricity from renewable sources.
Around 236,000 tons of wheat worth $84 million were exported from Iran during the first 10 months of the current Iranian year (March 21, 2017- Jan. 20), registering a whopping 1,317% and 724% growth in weight and value respectively compared with the similar period of last year.
This was announced by Abdolmehdi Bakhshandeh, deputy agriculture minister for planning and economic affairs, Mehr News Agency reported.
Iran exported its first wheat consignment of 29,630 tons to neighboring Oman on June 12, 2017.
Iran has been self sufficient in wheat production for two years now and only imports wheat for export purposes after processing it into flour.
The Iranian government’s overall revenues during the first 10 months of the current fiscal year (March 21, 2017-Jan. 20) amounted to 421.9 trillion rials ($8.97 billion), posting a rise of 28.2% over last year's corresponding period, while its spending hit 757 trillion rials ($16.1 billion) to register a 28% growth year-on-year.
The government issued 607.2 trillion rials ($12.91 billion) worth of bonds during the period, which are 77.9% higher compared with the corresponding period of last year to cover its deficit of 335.1 trillion rials ($7.12 billion), according to the latest report by the Central Bank of Iran.
The previous CBI report showed the government’s overall revenues during the nine months to Dec. 21, 2017, stood at 340.3 trillion rials ($7.57 billion), registering a rise of 27.8% compared with last year's corresponding period, while its spending hit 725.7 trillion rials ($16.15 billion) to record a 35.6% growth year-on-year.
As a result, the government had to issue 74.8% more bonds in the nine months YOY to cover its widening deficit of 385.4 trillion rials ($8.57 billion). As much as 601.4 trillion rials ($13.38 billion) worth of bonds were issued during the period under review.
Revenues associated with the sales of oil and petroleum products reached 718.5 trillion rials ($15.28 billion), indicating a 46% rise YOY, but lower than the projected 954.9 trillion rials ($20.31 billion).
Iran exported more than $230 million worth of non-oil goods to Russia during the first 11 months of the current Iranian year (March 21, 2017-Feb. 19), which registers a 27.74% increase compared with last year’s corresponding period, the Islamic Republic of Iran Customs Administration announced.
Imports from Russia into Iran during the period stood at more than $615 million, indicating a 58.34% decline year-on-year.
Iran-Russia trade totaled $845 million over the 11-month period, registering a 49% decrease YOY.
The construction of Section-1 of the Tehran-North Freeway has made about 96% progress and the project is expected to come on stream in summer, the governor general of Tehran Province said.
“Section-1 is 32 kilometers long, which is nearly 60 kilometers shorter than the current route. This section of the freeway connects Tehran to the western cities of Mazandaran Province in the north,” Mohammad Hossein Moqimi was also quoted as saying by IRNA on Sunday.
Preliminary plans to implement the freeway project, which consists of four sections spanning a total of 121 kilometers, were proposed about 20 years ago. The route is to connect Tehran to the city of Chalous in northern Mazandaran.
Sections 2 and 3 pass through mountainous terrain, are not easily accessible and will take longer to complete.
Thirty-nine percent of the members of Social Security Organization’s pension scheme retire before their full retirement age. According to a report by SSO, the full benefit age in Iran averages out at 65 while the disabled enjoy retirement benefits at the age of 55. The average monthly pension payments stand at 12.71 million rials ($282), the average payment for the disabled is 7.56 million rials ($168) and the survivor benefits stand at 8.98 million rials ($199). Thirty-three percent of pensioners, 80% of the disabled and 60% of beneficiaries of a deceased SSO member receive the minimum wage.
Some 7,500 tons of gabbro have been exported from Bandar Lengeh Port in the southern Hormozgan Province to Qatar for the first time, the Ministry of Roads and Urban Development’s news service reported on Sunday, citing data from the Ports and Maritime Organization of Hormozgan Province.
Gabbro is a dark, coarse-grained plutonic rock of crystalline texture. It often contains valuable amounts of chromium, nickel, cobalt, gold, silver, platinum and copper sulfides.
President Hassan Rouhani will visit Azerbaijan’s capital Baku on March 29 and he will be accompanied by a business delegation. A joint business forum between the traders of Iran and Azerbaijan has been scheduled to be held on the occasion of the Iranian delegation’s visit, the Persian daily Donya-e-Eqtesad reported. The Trade Promotion Organization of Iran, the organizer of the forum, is calling on businesspeople willing to take part in the event to contact TPO’s Europe and America Affairs Bureau for more information and to register by March 16. Meanwhile, a delegation headed by Azerbaijan’s Minister of Economy Shahin Mustafayev was expected to arrive in Tehran on Monday for a three-day visit. During the visit, Mustafayev is to take part in the 12th meeting of Iran-Azerbaijan Intergovernmental Commission for Economic, Trade and Humanitarian Cooperation. He is the co-chair of the joint commission. According to Mustafayev, trade between Azerbaijan and Iran increased by 30% in 2017.
The Social Security Organization, Islamic Treasury Bill holders, the Central Bank of Iran, and public and private banks top the list of government creditors.
The Ministry of Economic Affairs and Finance added that SSO is the biggest creditor to the Iranian government, as the organization accounts for 33% of the government’s total debts, IRNA reported.
Recently, the Persian daily Shargh put the government’s outstanding debt to SSO at over 1,500 trillion rials (about $33 billion).
As the government’s indebtedness to SSO is scaling new heights by the day, the organization is now in great distress.
Both foreign exchange and gold markets on Monday kicked off their rallies after days of relative calm, with major foreign exchange rates registering significant gains against Iran's national currency.
According to Tehran Gold and Jewelry Union, the US dollar suddenly gained as much as 7.5% or 3,300 rials in Iran's capital to be traded for 48,230 on Monday.
The European Union's currency climbed 2.5% or 1,350 rials and was quoted at 57,440 rials in certified exchange shops.
As it strives to relegate the phenomenon of shadow banks to history, the Central Bank of Iran has orchestrated a merger of two such banks into a legitimate one in order to wipe away the last traces of that rogue industry.
According to Farshad Heydari, CBI’s deputy for supervision who addressed a news conference on Monday, the measure involves the acquisition of two unlicensed financial entities–Mehr Eqtesad Bank and Samen Credit Institution by Ansar Bank.
Although CBI had resorted to mergers and acquisitions in the past to bail out the victims of some bankrupt illegal credit institutions, Monday’s announcement is the first major regulatory decision for warding off another crisis.
The Central Insurance of Iran said that according to latest reports, the insurance industry has registered a 22% growth in premium in the 11 months to February 19 compared with the same period of last year. According to Abdolnasser Hemmati, the CII chief, the figure is indicative of strong growth in the country’s insurance industry, Banker.ir reported. The head of CII, which is the industry regulator, added that strong real growth in the number of insurance policies is also another sign that the industry is picking up steam in the country. Hemmati also advised insurance firms not to invest in projects that are not economically viable. As of 2016, the value of Iranian insurance market was at $8.29 billion and its share of global insurance market is a meager 0.18%, ranking Iran 42nd in terms of insurance.
The Ministry of Cooperatives, Labor and Social Welfare is the state body responsible for determining the poverty line in Iran, the head of Statistical Center of Iran said. Omid Ali Parsa added that it is beyond the SCI purview to calculate the figures about the minimum level of income deemed adequate in the country, ISNA reported. It’s been a while now that the poverty line has been ignored in the country, which means there is no official report to tell the people whether they are above the poverty line with their current income or below it. The last official statistics on poverty dates back to 2007-8 when the poverty line was announced to stand at 6.5 million rials a month (about $140).
The Economic Council agreed on Monday that the government issue 10 trillion rials (about $222 million) worth of bonds for purchasing new airplanes and maintaining the country’s roads.
The issuance of debt securities was initially proposed by Minister of Roads and Urban Development Abbas Akhoundi and agreed to by First Vice President Es’haq Jahangiri, Mehr News Agency reported.
The Monday meeting was attended by Minister of Science, Research and Technology Mansour Gholami; Minister of Industries...
The notion of Citizenship Rights Charter has been reiterated by President Hassan Rouhani in the past two years. It lists and explains 22 categories of the most rudimentary, while critical, rights of every Iranian citizen.
The initial version was drafted in 2013 but it took until December 2015 to be officially signed by the president and communicated to all Iranians via text messages.
Afterwards, all affiliated organizations and entities were required to take measures to facilitate the realization of these rights in their respective areas. Protecting investors’ rights and providing orderly markets were considered indisputable examples of citizenship rights.
Tehran Stock Exchange’s main index gained 165.87 points or 0.17% to end Monday trade at 96,194.3.
About 1.05 billion shares valued at $58.87 million changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.
Behshahr Industrial Company was the biggest riser, going up 12.59% to 1,082 rials per share.
Silica Sand MFG Company incurred the biggest loss among all TSE-listed companies, as it went down 6.72% to 3,165 rials per share.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Parsian Oil and Gas Development Group and Bandar Abbas Oil Refining Company
Omid Investment Company of Iran was the biggest laggard behind the benchmark’s fall, followed by Ghadir Investment Company and National Investment Company of Iran.
Volkswagen’s sports carmaker Porsche could develop a flying passenger vehicle to compete with rivals in...
More than half of the Iranian vehicles do not meet the standards to acquire a premium technical inspection certificate introduced by the Department of Environment to curb the emission of air pollutants like carbon monoxide.
CEO of Tehran Vehicle Technical Inspection Bureau said 70% of cars visiting vehicle inspection centers are not fit to gain the premium technical inspection certificate, Mizan Online reported.
The premium certificate has higher standards than that of the normal technical inspection certificates. While in the normal tests, vehicles’ emissions are monitored in a low-speed performance, but for earning the premium certificate the carbon monoxide emission of cars is assessed at 2,500 rpm.
Navab Hosseini-Manesh added that 45-50% of the rejected vehicles do not receive the certificate due to the high emission rates and 20-25% are refused since they do not meet safety standards.
The premium technical inspection certificate was made mandatory this year for vehicles seeking permits to enter the restricted traffic zones.
SAIPA launched the presale of its latest hatchback model Quick in late January and started delivering a limited number of the vehicle last week. However, the company is yet to announce a final price for the vehicle.
The delay in announcing the vehicle’s final price is partly due to the fact that Iran’s Competition Council is required to ratify the price of vehicles worth less than 450 million rials ($10,000).
Initially, for starting the presale, SAIPA quoted a “temporary price” of 329 and 420 million rials ($7,300 and $9,300) on the model depending on options.
Reza Shiva, the head of Competition Council, said, “The council is studying the documents submitted by SAIPA regarding the model. In case it is determined that the vehicle’s price must decline, customers who have purchased the car through the presale must receive a refund.”
The Competition Council is a state body that seemingly keeps an eye on many domestic products, including cars.
Before Li Shufu rose to become the largest single shareholder at Mercedes-Benz through the acquisition...
Handicrafts of southwest Iranian province of Khuzestan will go on show at the International...
Tabriz, the capital of East Azarbaijan Province, will host the third edition of the international conference on ‘Archeology and Conservation along Silk Road’.
“As one of the major historic cities on the trade route, Tabriz is preparing to host the third international conference,” Mehr News Agency quoted the scientific secretary of the conference, Adel Farhangi, as saying.
Farhangi, who is a specialist in heritage studies, did not mention the precise date for the event.
Iranian movie ‘Golnesa’ directed by Sattar Chamani-Gol has been placed among the nominees for the Remi Award of the 51st WorldFest-Houston International Film Festival, scheduled to be held on April 20-29 in Houston, Texas.
According to the public relations manager of the film, the story is about a young Afghan couple, Golmammad and Golnesa, illegal immigrants who are working in a traditional brick-making kiln in the suburbs of Tehran.
Saeed Dakh, Saqi Zinati, Yeganeh Rajabi, Ali Mohammad Radmanesh and Masoud Mohammadi are in the cast.
Founded in 1961, the annual WorldFest-Houston film festival is dedicated to recognizing excellence in various types of independent films and filmmaking.
The children’s Persian book ‘The Bow Tie Python’, printed by Fanni Publications, has recently been released across the country.
Writer Azam Mahdavi talks of protecting animals and preserving the environment in the book, Mehr News Agency reported.
It talks about the life of a python working in a circus. The snake and many other animals, dominated by Mr. Almond, the circus manager, talk about their saddening state there. The python would like to leave but he is not sure if it is the right thing to do.
The book has been illustrated by Ra’na Azarmanesh.
Jahangir Hedayat, the nephew of renowned Iranian short story writer Sadeq Hedayat, has compiled all the works translated by the writer in one book.
Titled ‘Sadeq Hedayat and His Translations’, it has been published by Amroud Publications in 171 pages, Mehr News Agency wrote.
Hedayat (1903-1951) was intensely drawn to the works of Edgar Allan Poe, Guy de Maupassant, Rainer Maria Rilke, Franz Kafka, Anton Chekhov and Fyodor Dostoyevsky.
A violin belonging to the genius Albert Einstein who gifted it to a janitor’s son has sold for a whopping $516,500.
Russian state TV has accused Britain of poisoning former double agent Sergey Skripal in...
Former prime minister Silvio Berlusconi called on the defeated Democratic Party (PD) to help...
The pilot of a helicopter that went down in New York’s East River Sunday is the sole survivor of the...
At least 50 people were killed when a plane approached the runway from the wrong...
Weapons imports to the Middle East and Asia have boomed over the past...
As the curtain came down on France’s National Front congress in Lille, Marine Le Pen was re-elected unopposed as leader and proposed a rebrand.
At least 17 Saudi detainees were subjected to physical abuse during what was...
Myanmar is building security installations on top of razed Rohingya villages, Amnesty International...
Gold prices fell on Monday as the dollar held steady after data showed the US economy added...
When it comes to abandoning cash, Sweden is going it mostly alone. While cash in circulation in the...
Romania’s exports of goods increased by 15.9% year-on-year in January to €5.42 billion ($6.66 billion), but...
Turkey’s lira slid against the dollar and euro after the current account deficit more than doubled in...
Venezuela’s Petro is the first cryptocurrency purportedly backed by natural resources.
Japanese manufacturers and major trading firms are again showing strong interest in Brazil.
Eurozone inflation may need more time to rise than anticipated as spare capacity is taking...
Western Digital will invest about 500 billion yen ($4.68 billion) over the next three years in a memory...
China, Canada and Hong Kong are among the economies most at risk of a banking crisis, according...
Companies in Britain and the European Union face an extra $80 billion in annual costs if there is a no-deal Brexit, with Britain’s vast financial sector set to be the worst-hit industry, according to a report on Monday.
One of the world’s biggest cryptocurrency exchanges is going on the offensive to deter hacking attempts that have plagued the industry.
Scotland’s private sector economy slipped back into reverse last month, and inflationary pressures intensified, a key survey shows.
Russian President Vladimir Putin said the biggest achievement during his tenure is economic...
Subscribe to our daily newsletter.
More from DEN Media Group:
© Financial Tribune Daily and Contributors 2014-2018