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Although President Hassan Rouhani has granted permission to Oil Minister Bijan Namdar Zanganeh to sell oil with a discount, such a strategy cannot serve Iran's national interest, the country's former representative to the Organization of Petroleum Exporting Countries said.
"Selling crude at generous discounts is a serious mistake and will have an adverse effect on the country's future oil trade," Mohammad Ali Khatibi was also quoted as saying by Mehr News Agency.
"Prices are all clear in the market. Offering high discounts to buyers will motivate them to ask for more substantial discounts that puts the country's revenues in danger."
According to the official, even if the National Iranian Oil Company intends to negotiate trade discount, it should be decided case by case and within a specific framework.
Operations to connect the second major pipeline of South Pars Gas Field's Phase 13 in the Persian Gulf to onshore facilities have been completed, the director of Phase 13 development project said.
"The pipeline between Phase 13 platform and onshore gas processing facilities was laid using C-master vessel in two months," Payam Motamed was also quoted as saying by Shana.
The official noted that plans are on the agenda to start pipe-lying operations to connect the phases of platforms C and A.
The private sector has signed 22 water and wastewater deals with the Energy Ministry to develop less privileged areas in the southern Hormozgan Province.
Ventures, with a collective cost of 20 trillion rials ($166.7 million), were submitted to contractors during a ceremony attended by Deputy Energy Minister Hamidreza Janbaz in the southern city of Bandar Abbas on Tuesday, Mehr News Agency reported.
The official said this is part of a bigger outlook launched a couple of years ago for water management in less privileged regions, which has reached 142 ventures.
Efforts are being made to extend compressed natural gas network in the country, as the number of stations has exceeded 2,400. According to IRNA, 11 new stations were completed all over the country last week with the help of the private sector, bringing the total number of stations to 2,436. The new stations, which became operational in Azerbaijan, Tehran, Shiraz, Gilan and Golestan provinces, added 17,000 cubic meters of CNG to the country's total capacity. Reportedly, as much as 20 million cubic meters of CNG are consumed in the country daily. CNG stations can supply over 2.74 million cubic meters of gas per hour and if the stations work 14 hours a day, daily supply capacity would be around 40 mcm. CNG is projected to comprise up to 35% of Iran's total fuel consumption by the end of the Sixth Five-Year Economic Development Plan (2017-22). Privately-owned CNG stations can charge customers 1,400 rials (4 cents) per cubic meter, yet the state-owned stations charge customers 600 rials (1 cent) for the same amount.
The government earned 2.5 trillion rials ($20.66 million) from cigarette tax in the first four months of the current fiscal year (March 21-July 22). The figure indicates a rise of 42.9% compared with the same period of last year, the latest data released by the Central Bank of Iran showed. Revenues from cigarette tax, which is a subcategory of tax on goods and services of indirect taxes, were estimated to hover around 1.8 trillion rials ($14.87 million) in the four-month period as per the budget law. Projection for the whole year is at 5.3 trillion rials ($43.8 million). Iranians consume close to 55 billion cigarettes per year.
President of Tehran Chamber of Commerce, Industries, Mines and Agriculture Masoud Khansari said as many as 139,000 containers holding 7 million tons of goods have piled up at Iranian ports of entry.
Khansari noted that 2.5 million tons of these goods are essential goods whose owners have to pay growing demurrage fees and warehousing costs each day, ILNA reported.
“From April 10 to August 13, the government issued more than 32 bylaws and the Islamic Republic of Iran Customs Administration churned out 160 directives, only to confuse importers and exporters. This uncertainty feeds consumers’ and producers’ distrust in officials,” he said.
The Plan and Budget Organization of Iran has agreed to allocate 4 trillion rials (close to $33 million) for completing the 8.5 kilometers left of Qazvin-Rasht Highway Project, a deputy minister of roads and urban development said.
“This part is the third section of Qazvin-Rasht Highway Project, stretching from the cities of Roudbar to Manjil, both in the northern Gilan Province. To complete this section of the route, bridges and tunnels have to be constructed, which are both technically complicated and cost-intensive,” Kheirollah Khademim, who doubles as CEO of Iran’s Transportation Infrastructure Construction and Development Company, was also quoted as saying by the news portal of the Ministry of Roads and Urban Development.
Iran traded 2.79 million tons of non-oil commodities worth $1.43 billion with Afghanistan during the first five months of the current fiscal year (March 21-Aug. 22), registering a 15.46% and 31.75% growth in tonnage and value respectively compared with last year’s corresponding period, the latest data released by the Islamic Republic of Iran Customs Administration show. Iran’s exports to Afghanistan stood at 2.79 million tons worth $1.43 billion, up 15.87% and 32.49% in tonnage and value respectively year-on-year. Afghanistan was Iran’s fourth major export destination during the period. Iran mainly exported low-density oil, hydrocarbon and floorings to Afghanistan during the five-month period. Afghanistan exported 3,847 tons of goods worth $4.31 million to Iran, down 67.65% and 53.79% in tonnage and value respectively YOY. Afghanistan was the 73rd exporter of goods to Iran over the five months. The imports mainly included plants used for making perfume and pharmaceuticals, sesame and cattle.
Iran imported 13.96 million tons worth $18.89 billion during the first five months of the current fiscal year (March 21-Aug. 22), down 5.82% in weight and 9.66% in value over last year’s similar period, the Islamic Republic of Iran Customs Administration announced.
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Governor of the Central Bank of Iran Abdolnasser Hemmati late Monday met with chief executives of banks and credit institutions to evaluate the country’s monetary and banking developments and discuss the reformative role of banks in creating market stability.
According to the official news website of the central bank, the head of the monetary regulator mostly wished to secure the cooperation of banking system to curb the rampant rise of liquidity and support private businesses.
Banks were also called upon to assist the central bank in handling the ongoing currency crisis that has seen Iran’s rial lose more than two-thirds of its value in the past six months.
Members of the economic commission of Iran’s Parliament on Tuesday concluded the review of reform measures concerning the Central Bank of Iran, which is part of wider reforms aimed at overhauling the country’s ailing banking system.
According to Zahra Saeidi Mobarakeh, spokeswoman of Majlis Economic Commission, the parliamentary entity finalized CBI reforms that constituted about one-third of the banking reforms.
“Subjects reviewed during today’s MEC meeting included the mode of calculating revenues and losses in the central bank balance sheet, increasing the capital of central bank and regulating the revaluation of central bank foreign assets,” she told ICANA, the official news outlet of the parliament.
On Monday, she had announced that MEC members further discussed the central bank’s monetary and foreign currency policies.
Members of Tehran Chamber of Commerce, Industries, Mines and Agriculture’s Board of Representatives convened on Tuesday to discuss the latest status of the economy, particularly the anguish caused by the recent currency crisis.
Officials of the Central Bank of Iran, Industries Ministry and the Islamic Republic of Iran Customs Administration attended the meeting.
Masoud Khansari, TCCIM’s president, expressed concerns over ad hoc policy changes and the barrage of directives that have been devised since the government first responded to rial’s steep depreciation against the US dollar on April 10.
“From April 10 until August 13, CBI has issued more than 33 directives and according to the IRICA chief, it had to notify more than 150 ordinances in accordance with the forex injunctions,” he said, referring to the many regulations CBI introduced since it unified the US dollar’s exchange rate before altering some and nullifying others.
Tehran Stock Exchange’s main index gained 1,578.89 points or 1.07% on Tuesday to end trading at 148,577.6.
About 3.62 billion shares valued at $89.32 million changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.
Ilam Cement Company was the biggest winner, as its shares went up 60.42% to 3,332 rials per share.
The ban on kiwi export until October 23 has been notified to all provincial agricultural jihad organizations across the country by the director general of Agriculture Ministry’s Quarantine Affairs Bureau on September 4.
Akbar Ahangaran added that the measure has been taken to prevent the export of unripe kiwis as this will stain the reputation of Iranian kiwis in export markets, IRNA reported on Monday.
The ban, he added, has nothing to do with quarantine issues and is aimed at maintaining the quality of exports.
The restructuring and changes in the management of the Ministry of Economic Affairs and Finance and the Central Bank of Iran have provided the opportunity to expand the capital market, vice chairman of the board of directors of Tehran Stock Exchange, Mahmoud Reza Khajehnassiri, said.
The changes referred to include Abdolnasser Hemmati taking over CBI and Minister of Economic Affairs and Finance Masoud Karbasian having been impeached recently.
Essential goods, including rice, meat, chicken, sugar and sugar cubes, to name a few, are banned from leaving Bashmaq border crossing in Kurdestan Province’s Marivan County bordering Iraq as of Sept. 11.
“Iraqi travelers to Iran purchase these goods and take them to Iraq. This will in the long run cause scarcity and a hike in the prices of these goods in the markets of Iranian border cities,” Marivan’s Governor Mohammad Shafiei was quoted as saying by IRNA.
The official added that 1,100 travelers from northern Iraq enter Marivan every day. Most of them purchase Iranian goods to carry back to Iraq, as the recent freefall in the Iranian currency’s value has made prices in Iran significantly cheaper vis-à-vis those in the markets of neighboring countries.
The competitive ceiling for steel prices on the Iranian Mercantile Exchange is to be removed, according to a letter written by Deputy Industries Minister Jafar Sarqeini wrote to Hamed Soltaninejad, chief executive of IME.
“The prices of steel products on IME from now on are to be equivalent to the average rate of discovery of goods in the last four offers on the market, thus removing the ceiling on commodity trading for steel products,” reads the letter, IRNA reported on Tuesday.
The discovery of new prices will be in accordance with the proposal made by four major steel companies of Khorasan, Khuzestan, Mobarakeh and Esfahan.
The 14th Iran International Water and Wastewater Exhibition, also known as WATEX 2018, has been scheduled to open at Tehran International Fairground on October 3, according to the event’s official website. This is the biggest event in the Iranian water industry and many prominent domestic and international companies will take part in the expo to showcase their latest products and services. Those interested in participating can register at www.watex.ir. As Iran is facing a worsening water situation, the significance of water management has currently increased.
Following up on a joint plan of action signed between the ministries of ICT and energy, the two state bodies held a joint conference to further discuss the details of the much-needed collaboration.
The officials from the administrative agencies convened on Monday morning at the Shahid Qandi Conference Hall of the ICT Ministry in Tehran to discuss the inevitability of a technological overhaul in the country.
During the conference, ICT Minister Mohammad Javad Azari-Jahromi said with conventional resources such as oil and mines gradually getting depleted across the continents, developed and developing countries are shifting to information and communication technologies to bolster their economies, the ICT Ministry’s website reported.
Sharif University of Technology is to hold the fourth round of an exhibition focused on commercializing innovative ideas in autumn. Titled “Sharif Technology Family and Knowledge-Based Economy,” the three-day event provides an opportunity for students and graduates to seek advice from professors and entrepreneurs on setting up tech companies, news website Webna reported. Slated for November 20-22, the exhibition’s success in the past three consecutive years has prompted the university to hold the fourth round of the well-received fair. Sharif University will collaborate with the Sharif Tech Park and Sharif’s center for job creation to host the event. Sharif is the leading university across the country in founding startups, knowledge-based companies and supporting entrepreneurship. According to Vice President for Science and Technology Sorena Sattari, more than 450 knowledge-based companies are backed by Sharif University.
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Iranian participants in the 9th West China Cultural Industries Expo which ended on Monday endeavored to change the common misconceived image of the country in the minds of the Chinese along with introducing their products.
Iran was attending the expo as a guest of honor. Artists from different provinces offered their artworks in a pavilion and musicians played Iranian traditional music.
However, they were forced to answer the visitors' odd questions about the conditions in Iran as well, Mehr News Agency reported.
A two-century old babul tree in the south of Iran was registered on the national heritage list, the director of the office of Iran's Cultural Heritage, Handicrafts and Tourism Organization in Bushehr Province said.
"The tree, located in the Bahmani district of the port city of Bushehr, was registered as the oldest babul tree in the country," Naser Amirzadeh said in a talk with IRNA on Monday.
Estimated to be 200-250 years old, the tree is 19 meters tall, he said.
Travelers to the religious city of Mashhad in Khorasan Razavi Province increased by 6.8% during the first two months of summer compared to the same period last year. According to Mehdi Forouzan, spokesperson for the provincial travel services headquarters, over the period, 7.88 million pilgrims and tourists visited the city, IRNA reported. Based on the released data, the increase in the number of trips was chiefly brought by those using private vehicles. "Some 4.3 million people have entered Mashhad by their cars, recording a 13.7% increase compared to the same period last year," Forouzan said. Furthermore, 1.73 million trips have been taken by means of public road transportation, marking a 3% fall compared with the figure for last year. "Railroads leading to Mashhad saw 15% more travelers (940,000 people) from last year, but the number of the trips recorded in Mashhad International Airport, equal to 0.7 million people, shows a 12% decrease compared to the same period of last year," the official added. The surge in the price of air tickets may have caused the dramatic fall in air travel to the holy city.
Iran's tourism industry recorded a negative growth rate in 2017 according to the latest report by the United Nations World Tourism Organization. Based on the organization's tourism highlights published in August, Iran had been host to a total of 4.86 million tourists in 2017, recording a 1.5% fall in comparison to the record of the previous year. In 2016, the country had been chosen as a travel destination by over 4.9 million people. In addition, UNWTO reported that the figure in 2010 was equal to 2.9 million people which allows a broader comparison, ISNA reported.
On tourism revenues in Iran, the UNWTO reported the country had earned $2.43 billion in 2010 and $3.71 billion in 2016, but the earnings in 2017 was not provided.
However, tourism officials in Iran have estimated that the revenue had been around $6 billion. The 2016 figures are inconsistent with the stats provided by the Iranian tourism authorities who had reported that tourism had earned the country over $8 billion in 2016, indicating a 46% difference with UNWTO's data.
The first phase of a project to provide lighting at the Qal'eh Kouh, an ancient fortress in Qaen, South Khorasan Province, dating from the Seljuk dynasty in the 10th century, was completed.
"Supplying power to Qal'eh Kouh was the first step, which was completed in 2014 at the cost of 1.2 billion rials ($10,000)… The lighting funds were allocated from the national budget last year and the first phase, covering the southern, eastern and northern walls, has finished," Shahrokh Abbasi, head of Oaen's office of Iran's Cultural Heritage, Handicrafts and Tourism Organization, said, CHTN reported.
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