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An estimated 5,000 megawatts in new electricity production capacity will be added to the national grid by the next summer, the head of Iran’s Thermal Power Plants Holding Company said.
"Efforts are underway to establish some 25 power generation units across the country through next summer to prevent potential blackouts in the hot season," Mohsen Tarztalab was also quoted as saying by ILNA.
According to the official, the plan is in line with the Energy Ministry's push to bring on stream 5,000 MW of new power output capacity annually.
Iran exported 4.16 million tons of gas condensates worth $2.16 billion during the first five months of the current fiscal through Aug. 21, indicating a 40% and 23% decline in terms of volume and value respectively compared with last year's corresponding period.
According to the Islamic Republic of Iran Customs Administration's latest report, gas condensate had a 9% and 11.23% share in the country’s total exports in terms of tonnage and value respectively.
To complete the value chain in the petrochemical sector, the National Petrochemical Company has issued directives for raising ethylene production in petrochemical complexes in the port city of Asalouyeh, Bushehr Province, NPC’s director for projects said.
"Petrochem complexes, namely Kavian, Morvarid, Jam and Arya Sasol, have been commissioned to increase their ethylene output gradually by 30% in maximum two years, in which case the country's annual output will amount to 12.7 million tons," Ali Mohammad Bosaqzadeh was quoted as saying by NPC’s news agency NIPNA.
According to the official, the short-term plan, whose feasibility studies have been finalized, is aimed at completing value-added chain for olefin products.
Procedures and formalities required for the customs clearance of imported essential goods, including rice, vegetable oil, tea and raw materials needed by factories, are now carried out in less than 24 hours at Iran’s biggest container port, Shahid Rajaee Port in the southern Hormozgan Province. The announcement was made by Morteza Kebriyaei, an official with the Islamic Republic of Iran Customs Administration. Over 50% of imports, of which 80% are food and essential goods, enter the country via Shahid Rajaee Port, Mehr News Agency also quoted Kebriyaei as saying.
The ban imposed on exports of packaging paper and tissue has been lifted. This was notified...
The ban on reemployment after the retirement of public employees will be legally enforceable within two months, the spokesman of Guardians Council, Abbasali Kadkhodaei, said. According to the newly-ratified law, the ban would not apply to the heads of the three branches of the government (executive, legislative and judicial), first vice president, deputy speakers of the parliament, members of the Guardians Council, ministers, legislators and vice presidents. Kadkhodaei noted that provincial governors, ambassadors and deputy ministers will be subject to the ban, Tasnim News Agency reported.
Iran traded 2.04 million tons of non-oil commodities worth $2.08 billion with South Korea during the first five months of the current fiscal year (March 21-Aug. 22), registering a 54.97% and 34.29% decline in tonnage and value respectively compared with last year’s corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.
Iran's consumer market was worth 7,180 trillion rials ($177.4 billion) in the fiscal 2017-18, according to a report by Tehran Chamber of Commerce, Industries, Mines and Agriculture using figures released by the Statistical Center of Iran.
Food and tobacco with 1,790 trillion rials ($44.3 billion) accounted for 25% of the domestic consumer market.
The report shows “Flour, Noodles, Grains, Bread and Their Products” had the largest share in food consumer market with 410 trillion rials ($10.1 billion), followed by “Meat” with 360 trillion rials ($9 billion).
The first quarter of the current Iranian year (March 21-June 21) saw exports and imports in dollar terms of “Fishing” sector register the most remarkable changes, the Statistical Center of Iran reported.
The sector’s exports grew by 47.48% in dollar terms compared with the same period of last year while they fell by 13.49% compared with the previous quarter, while imports in dollar terms of the sector rose by 46.99% compared with the similar period of last year while they fell by 10.43% over the previous quarter.
Iran, India and Afghanistan held trilateral discussions for the first time ever in Kabul earlier this week.
Bank lending increased 3.3% in volume during the four months to July 22, the latest figures showed.
IRIB News reported that Iranian banks and credit institutions granted 1.1 quadrillion rials ($8.2 billion) in loans to customers, compared with 1.08 trillion rials ($7.9 billion) four months earlier.
Loans offered under the partnership contracts constituted the bulk of this figure, 34.9%, while 5.7% went to Qarzol-Hassaneh (interest-free) loans and 27.2% to installment sale loans.
Installment sales drove the lion’s share of loans given out by commercial banks. The figure stood at 619.5 trillion rials ($5.57 billion), accounting for 34.5% of total credits, compared with 551 trillion rials ($4.06 billion) at the start of the period.
Commercial banks doled out 137.4 trillion rials ($1.014 billion), or 7.7%, in interest-free loans.
Germany and its European partners are considering setting up a payment system with Iran, which allows the continuation of business transactions with the Islamic Republic once US sanctions kick in, an economy ministry spokeswoman said on Friday.
“As you know, it is a central goal of the EU and the German government to ensure that the processing of transactions is secured,” the spokeswoman said during a regular government news conference.
“All options are being considered,” she was quoted as saying by Reuters.
Central Bank of Iran Governor Abdolnasser Hemmati announced on his Instagram page that €3.2 billion have been allocated for the import of essential goods in the past one month. Hemmati added that in the wake of the intensification of US sanctions and within the principles of Resistance Economy, CBI will seek to strengthen its assets and work toward meeting the basic needs of the public. On Wednesday, CBI also issued figures related to hard currency trade in the Secondary Forex Market between exporters and importers. According to the bank, between Aug. 7 (the day CBI eased currency controls) and Sept. 11, trade volume reached €2.81 billion. Hard currency allocated to imports during this period, amounting to €2.45 billion, indicates that currency supply has so far outweighed demand.
A senior member of Expediency Council, a body that settles disputes between the Majlis and the vetting body Guardians Council, said EC members have not rejected the government bill to amend the country's Anti-Money Laundering Law.
The bill is part of the Action Plan set forth by the inter-governmental Financial Action Task Force, which Iran intends to implement before FATF decides on the country's status in its upcoming meeting in October.
Majid Ansari, who is a member of EC's High Supervisory Commission, said the recent announcement by the council that the AML bill is against the country's major policies was not a rejection of the bill since some of those issues can be resolved with "an extra explanation" of the parliament.
According to Ansari, a repudiation or acceptance of a bill by EC only happens when the council's members take sides in a dispute between the Guardians Council and the Majlis.
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A crisis is emerging in Iran’s healthcare sector, as patients are reporting shortages in life-saving medicine.
Seven construction and renovation projects have been launched at Tehran’s Mehrabad International Airport with 700 billion rials ($5.14 million) of government investment. According to the airport’s Director General Mirsaeed Safinia, the projects, including renovation of terminals, construction of piers for air bridge construction, renovation of unloading areas and installation of lights at landsides, will take 18 months to complete, the Ministry of Roads and Urban Development’s news service reported. Iran Airports Company has announced that Mehrabad International Airport operated 33,561 flights and transported 3.9 million passengers in the first quarter of the current fiscal year (March 21-June 21), more than any other Iranian airport in terms of flights.
Changes in Iran Mercantile Exchange regulations have done wonders for the stocks market.
Talks of the removal of price ceiling for steel products in IME led to a major inflow of capital into the stock market in the starting days of the week.
On Wednesday, by officially authenticating the news, TSE rallied with its all-share index TEDPIX gaining an unprecedented 6,483 points to surpass 155,000 points upon the closing of the market for the week.
TEDPIX went up 17,346.9 points or 12.6% during the week that ended on Sept. 12 to close at 155,061.06.
Iran Fara Bourse’s benchmark index, IFX, gained 193.4 points or 12.2% to stand at 1,771.3.
Iran’s Computer Emergency Response Team Coordination Center (Iran CERTCC), the country’s cybersecurity authority, has issued a warning to the public, government bodies and companies about the rising tide of a dangerous ransomware attack, GandCrab v4.
Affiliated to the ICT Ministry, Iran CERTCC published a post on Wednesday urging users to take necessary measures against infection by GandCrab ransomware, having noticed a hike in the number of attacks employing the malicious software around the globe.
Damages caused by cybercriminals across the globe are estimated to reach trillions of dollars annually by 2021. Given the dire consequences of vulnerability to hackers, cybersecurity providers in Iran are on the lookout for possible exploitations.
The cybercrime gang behind the GandCrab launched the fourth version of the malware in July. GandCrab is ransomware which is a piece of software that asks users to pay a certain ransom.
During the first five months of the current fiscal which started in March, the total value of mobile phones imported into Iran has amounted to $239,790,594. According to data released by the Islamic Republic of Iran Customs Administration, the number indicates a 92.9% year-on-year increase in cellphone imports in terms of value. Cellphones currently are the sixth most imported item into Iran and have a 1.27% share of the five-month import bill. The significant increase in mobile phone imports has been due to the introduction of a state scheme titled Mobile Phone Registry which is aimed at curbing entry of smuggled cellphones into Iran and bars local mobile network operators from offering services to smuggled handsets.
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The Cultural Heritage, Handicrafts and Tourism organization's office in Ahvaz, Khuzestan Province, has organized free, weekly sightseeing tours of the southwestern city, due to start later this month, the head of the office said. "The tours are aimed at promoting awareness about Ahvaz's historical sites and urban structure and tourist attractions, with tour guides providing the necessary information to visitors," Gholamreza Jalilinia was quoted by CHTN as saying on Thursday. They will be held free of charge on a weekly basis and will set off from ICHHTO building in Ahvaz, Jalilinia said. "During the tours, coffee, tea and traditional and local dishes will be served to visitors." He added that his office has organized the tours in cooperation with the municipality and the private sector.
The Iranian Hoteliers Association has voiced strong support for the plan to introduce a double-rate pricing system for hotel rooms maintaining that it will lead to greater customer satisfaction.
The scheme involves setting prices at foreign exchange for inbound tourists and at the rial currency for domestic guests in order to prevent confusion in the wake of rapid forex fluctuations.
Despite its advantage, the idea could disrupt the decline in the overall costs of a trip to Iran following the depreciation of the rial that has offered hopes of encouraging more tourists to travel to the country.
Jamshid Hamzezadeh, president of the hoteliers association, however, dismissed the concern explaining that the rule will only include independent travelers, ILNA reported.
Train fares have only risen by 10% after a long period of steady prices since 2015, the deputy for passenger affairs at the Islamic Republic of Iran Railways said in reaction to the recent complaints on high costs.
According to Mirhassan Mousavi, except for a handful of VIP trains, which provide special services for passengers, all train tickets cost between 800,000 to 1,100,000 rials ($5.9 to $8), ISCA news reported.
Although the rail operating centers suggested higher prices for tickets considering the recent galloping inflation, "the increase applied to the prices in mid-June did not exceed 10%," the official added, emphasizing that the fares are under control.
The fourth consultation meeting of the members of the Regional Research Center for Safeguarding Intangible Cultural Heritage in West and Central Asia, which is run under the auspices of UNESCO, was held late last week at Hotel Ferdowsi in Tehran.
The two-day meeting chaired by Mohammad Hasan Talebian, deputy head of Iran's Cultural Heritage, Handicrafts and Tourism Organization, aimed to allow discussion on the possible ways of protecting intangible heritage and promoting amicable relations between the member states, CHTN reported.
Speaking at the meeting, Talebian highlighted the council's strong role in spreading peace and friendship among the countries and keeping an eye on the shared intangible heritage in the region.
The event, which was warmly welcomed by the member countries, "perfectly reflected the determination of the members to ease tensions in the region," according to Talebian.
A guesthouse is soon to be established in Isfahan to accommodate health tourists who stay in the province to use its cancer treatment facilities.
The lodging space will be built by a charity organization next to Omid Hospital, the most advanced medical facility for hard-to-treat illnesses in central Iran.
"The guesthouse is set to have 30 rooms and will chiefly admit patients and their companions from other regions of the country who are using the medical services of the hospital," Fereydoun Allahyari, head of the provincial office of Iran's Cultural Heritage, Handicrafts and Tourism Organization, said.
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