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The stance adopted by Iraqi Prime Minister Haider al-Abadi on renewed US sanctions against Iran will not affect the deep-rooted relations between the two neighbors, a lawmaker said.
"I believe this [al-Abadi’s remarks] is not a strategic shift regarding Iran," Heshmatollah Falahatpisheh, chairman of Majlis National Security and Foreign Policy Commission, told ISNA in remarks published on Monday.
The Iraqi leader last Tuesday Iraq, which relies on Iran as a source of cheap imports, would comply, albeit reluctantly, with US sanctions against Tehran, AFP reported.
Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei said Monday there would neither be war nor negotiations with the United States.
"Recently, the Americans have been talking blatantly about us. Besides the sanctions, they have raised two other issues: war and negotiations," the Leader told a group of people from different walks of life in a meeting in Tehran, his official website reported.
He said the US offer to hold talks with Iran is nothing new and has been raised regularly ever since the 1979 Islamic Revolution.
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National Iranian Oil Company's reduction of official selling price for Asian buyers is not higher than the global market norms and is on par with trends followed by all producers, a company source with knowledge of the matter said on Sunday.
"Discounting is just the nature of global markets and all crude producers do it to boost exports," the source was quoted as saying by IRNA.
"Accordingly, exporters determine price cuts based on several factors, including the supply and demand and rival producers' activities."
Groundwater reserves in Tehran Province have fallen by 150 million cubic meters per annum, the director for water reserves conservation at the Regional Water Company of Tehran said.
“In all parts of the province, there is a negative balance in groundwater resources, which means the extraction of water from aquifers is much higher than the volume of water added to them,” Hassan Zahmatkesh was also quoted as saying by ILNA on Monday. Zahmatkesh noted that Varamin Plain, 40 kilometers southeast of the capital Tehran, account for about 70 million cubic meters of water shortage and the rest pertains to other plains in the province. The official noted that the province has 10 plains, all of which are in critical condition.
Experts of the National Iranian Oil Refining and Distribution Company are producing 80% of catalysts required for manufacturing oil products, the company's commercial manager said.
"NIORDC possesses advanced knowhow to mass produce catalysts for the refining industry and commercialize them in international markets," Ali Ziar was also quoted as saying by Shana, the Oil Ministry's news agency on Monday.
"The catalyst's formulation meets international criteria," he added.
Iraq's Oil Ministry is discussing prospects of increasing gas import from Iran for its industrial and residential sectors, a senior energy official said.
Hamid Hosseini, a board member of Iranian Oil, Gas and Petrochemical Products Exporters’ Association, added that "preliminary negotiations are underway … The Iraqi side is interested in substituting petroleum products with Iranian gas in its industrial and residential sectors," ISNA reported on Sunday.
Hosseini noted that the gas infrastructure is under scrutiny to see whether it would suffice for raising the transfer capacity or new pipelines would be needed.
Iran exported 21,724 tons of biscuits worth $42.25 million during the first four months of the current fiscal year (March 21-July 22), the latest data released by the Islamic Republic of Iran Customs Administration showed.
Iraq, Afghanistan, Pakistan, Ivory Coast and Azerbaijan were the main customers of Iranian biscuits during the period.
More than 187 tons of contact lens solution worth $2.24 million were imported into Iran from nine countries during the last Iranian year (March 2017-18), figures released by the Islamic Republic of Iran customs Administration show.
The UAE was the biggest exporter with 50 tons worth $824,912. Other main exporters were Spain, Greece, the Netherlands, Switzerland, Germany, South Korea and Italy, Mizan Online reported.
Iran traded 1.16 million tons of non-oil commodities worth $537.42 million with Oman during the first four months of the current fiscal year (March 21-July 22), registering a 58.09% and 115.3% growth in tonnage and value respectively compared with last year’s corresponding period, the Islamic Republic of Iran Customs Administration’s statistics indicate.
Iran’s exports to Oman stood at 899,303 tons worth $300.92 million, up 29.71% and 56.81% in tonnage and value respectively year-on-year. Oman was Iran’s 10th biggest export destination during the period.
The government has banned the export of different kinds of paper, tissue, milk powder, infant formula, tea and butter in packages weighing more than 500 grams as of Aug. 23 until further notice.
In a letter addressed to the head of the Islamic Republic of Iran Customs Administration, Foroud Asgari, Minister of Industries, Mining and Trade Mohammad Shariatmadari said the ban is aimed at “balancing the domestic market”, Mehr News Agency reported on Saturday.
If the raw material for the production of any of the abovementioned goods is temporarily imported (to be reexported after being processed), they will be exempt from the new regulation, the letter added.
The Civil Aviation Organization of Iran issued a directive on Thursday, saying that the foreign currency needed by airlines to finance their ongoing operations would be determined at the rates set by the Central Bank of Iran’s Sana system, as the government would no longer supply forex at subsidized rates.
Sana rates are the average of exchange rates at which foreign currencies are traded at bureaux de change on any given day.
Fees paid to airports and maintenance costs that should be paid in foreign currency take a huge chunk out of airlines' expenditure budget. Without subsidized foreign currency, such expenses would weigh down airlines’ bottom line, leaving them with no options but to increase ticket prices. And they did raise the fares, and fast.
An Iranian economic delegation headed by Deputy Minister of Roads and Urban Development Amir Amini arrived in the Syrian capital Damascus on Sunday.
The delegation was welcomed by Assistant Economy Minister for Economic Development and International Relations Rania al-Ahmad, IRNA reported.
The two sides are expected to discuss reconstruction of Syria’s infrastructures battered by years of war on terrorists as well as cooperation in the fields of customs, banking, industry, information technology, creation of SMEs and energy.
Upon the delegation’s arrival, al-Ahmad said investors and industrialists from the Islamic Republic of Iran intend to play an important role in the reconstruction of Syria, expressing hope that negotiations would lead to Iran’s effective presence in this process, Mehr News Agency reported.
Agreements are expected to be signed on the above-mentioned fields during the visit.
Iraqi Prime Minister Haider al-Abadi has cancelled a visit to Iran, his press office said on Sunday.
In the article titled “Amendments to CFT Law, a Step in Right Direction” published on Monday, Article 1 of Iran’s new CFT law was assessed against parts of the Financial Action Task Force's Recommendation 5 and its interpretive notes. Article 1 is followed by four notes that will be elaborated at this stage.
First Vice President Es’haq Jahangiri has issued a directive to government agencies laying out the details of latest revisions to foreign currency and order-placement regulations in free trade zones. “Economy Minister Masoud Karbasian, Industries Minister Mohammad Shariatmadari, Governor of the Central Bank of Iran Abdolnasser Hemmati and the secretary of High Council of Free Zones, Morteza Bank, have been notified of the vice president’s decision,” IBENA quoted Akbar Eftekhari, the bank’s deputy, as saying on Monday.
The Central Bank of Iran has released the updated list of certified exchange bureaux currently active in the country, as it pursues a crackdown on unlicensed moneychangers that have proven a bane of the country's currency market.
According to the official website of CBI, the regulator has authorized 640 exchangers, which shows an increase of 22 since the start of the new Iranian year on March 21.
Major Iranian copper producers produced 413,739 tons of copper concentrate during the first four months of the current fiscal year (March 21-July 22), which indicates a 10% growth compared with last year’s corresponding period. Sarcheshmeh Copper Complex accounted for 245,300 tons of the total figure, up 12% year-on-year. It was followed by Sungun complex with 117,282, up 10% YOY and Miduk complex with 51,157 tons, up 3% YOY, according to data released by the Iranian Mines and Mining Industries Development and Renovation Organization. The three mines, all of which are subsidiaries of National Iranian Copper Industries Company, produced an aggregate of 96,920 and 73,996 tons of copper anode and cathode during the same period, up 65% and 62% YOY respectively. Copper oxide ore extraction reached 60.87 million tons in the four months, up 11% YOY. Sulfide ore extraction was up 9% to 19 million tons.
Tehran sold $126 million worth of Persian rugs to the American market last year, but the new US sanctions on Iran have targeted the hand-woven carpets.
But the beautiful rugs are more than just a commodity; they are recognized around the world as a form of art and are part of Iran’s cultural identity.
Weavers say the sanctions are not just an attempt to block an important revenue stream, but also an attack on Iranian culture, Al Jazeera reported.
In Iran, there is a saying: “Carpet weavers sacrifice their eyes for people’s feet.”
Tehran Stock Exchange was the world’s fastest-growing stock market, the results of a survey conducted by TSE analysts who monitored the benchmarks of 17 global exchanges from March 21 to Aug. 8 showed.
TSE’s main index, TEDPIX, rose from 96,298.9 to 131,521.6 to register a 36.6% growth during the period under review.
The all-share index was also the world's best performer in both the 30 and seven days leading to Aug. 8, as it gained 18.6% and 6.1% respectively.
The TSE survey also indicates that TEDPIX gained in 63 of its 89 trading days under review. This puts the benchmark index above all other global exchanges in terms of gaining trade days.
The main factor contributing to Iranian stocks' strong momentum has been the devaluation of the domestic currency.
Tehran Stock Exchange’s main index lost 1,379.18 points or 1.06% on Monday to end trading at 128,522.7.
About 1.66 billion shares valued at $40.88 million changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.
A three-day exhibition called ‘SME Iran 2018’ opened in Tehran on Sunday in a ceremony attended by Minister of Industries, Mining and Trade Mohammad Shariatmadari and Speaker of Iranian Parliament Ali Larijani.
More than 1,200 SMEs, including those from 15 countries such as Turkey, Pakistan, Malaysia and South Korea to name a few, are showcasing their latest products and services in a wide range of fields, including pharmaceuticals, cosmetics, toiletries, chemicals, metals, foodstuff, home appliances and construction material, IRNA reported.
The widespread clash between ride-hailing services like Uber and Lyft on one side and authorities and old-school cabbies around the globe has made its way to Iran, with municipalities across the country calling on the government and Parliament to "regulate" the online services, while ride-hailing firms oppose such interventions arguing that such moves would certainly create a conflict of interests involving authorities.
The Interior Ministry has drafted a bill concerning e-hailing services and submitted it to the government for review, which if approved would put ride-hailing services such as Snapp and Tap30 under the direct supervision of municipalities, reported the Persian economic daily Donya-e-Eqtesad.
Each Iranian city has a taxi organization controlled by the respective municipalities. Furthermore, in order to claim a share of the vast ride-hailing services market, the taxi organizations have introduced e-hailing platforms as well.
Since March, and through a joint venture between Iran Khodro and the Azeri automotive company AzEuroCar LLC, over 300 units of family sedan model Dena have been produced in the Republic of Azerbaijan.
The two automotive companies have established a joint venture dubbed Khazar Car Factory located in southeast Azerbaijan in the Neftchala Industrial District.
Head of IKCO operations in Asia, Europe, America and Commonwealth of Independent States, Sabina Nobari says, “Arrangements are being made to initiate the export of Khazar Car Factory’s products,” IKCO Press reported.
Currently all the cars produced at Khazar factory are sold in Azerbaijan, however, future target markets include Russia, Ukraine and the Commonwealth of Independent States.
Iranian auto importers, who had brought vehicles into the country when the open market forex rate was significantly lower than the current average of 95,000 rials per US dollar, need to slash the price of the cars they are offering in the market or the government will claim a share of their incomes.
Industries Minister Mohammad Shariatmadari censuring profiteering dealers and auto importers has announced that entities which are exploiting the plummeting value of rial as a pretext to charge car buyers exorbitant sums are required to lower the price of imported cars, ISNA reported.
Since US President Donald Trump pulled the country out of the historic Iran nuclear deal, the value of the rial has plunged to unprecedented lows. In a move aimed at curbing the outflow of foreign currency reserves, the government of President Hassan Rouhani banned imports of several goods calling them non-essential luxuries. Cars have been among the commodities which have been barred from entry into Iran.
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Head of Iran’s Department of Environment instructed officials in southwestern Fars Province to prepare an urgent plan to revive the embattled Bakhtegan Lake in cooperation with a local university.
“A consistent plan should be devised, with the Shiraz University playing a central role, in two months for the restoration of Bakhtegan Lake, one that would be based on a scientific approach and take account of local livelihood concerns,” Isa Kalantari was quoted by ISNA as saying on Sunday.
He said the DOE faces no financial constraint on the project but the allocation of the funds is pending the completion of the study plan.
The Department of Environment announced plans to install 16 dust monitoring stations in southern and southeastern regions of the country. "The provinces of Sistan-Baluchestan, Kerman, South Khorasan and Hormozgan are gripped by sand and dust storms for much of the year while the existing observation stations are hardly sufficient in proportion with the area and population of the regions," director of the DOE's monitoring office Shina Ansari said in a talk with ISNA.
Unfortunately, she added, each of these provinces has at most two stations at present which do not meet their needs.
Soil degradation is an exacerbating crisis in Iran that has been grossly neglected as a pressing issue which requires prompt action, director of the Department of Environment warned.
"Although soil erosion is a natural process, it becomes problematic when human activity causes it to occur much faster than it naturally would," Isa Kalantari said.
According to a 2012 report by the Agriculture Ministry, Iran's soil is affected largely by anthropogenic factors more than any other natural event.
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