Foreign Minister Mohammad Javad Zarif castigated the US special envoy for Iran, Brian Hook’s, description...
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Iran's top engineering and energy enterprise MAPNA Group is set to embark on a petrochemical project and implementation of power plants in the Parsian Special Economic Energy Zone in the southern Hormozgan Province in the Persian Gulf.
Based on a memorandum of understanding signed by MAPNA's director for oil and gas, Mojtaba Gharavi, and the zone's managing director, Hassan Shahrokhi, this week, the energy conglomerate will build a petrochemical complex in the zone, Shana reported.
According to Gharavi, MAPNA will start the construction of the gas to fuel and chemical production units of the petrochemical complex—aka GTX— as soon as it gets the substantive agreement from the National Petrochemical Company.
Imposing sanctions against oil producing states like Iran will have an adverse impact on oil markets as well as the world's economy, the country's former governor at the Organization of Petroleum Exporting Countries said.
"Even if there are enough oil supplies, the continuation of unilateral sanctions will harm all countries, especially OPEC members, as it is very likely that they will face the same trade and economic restrictions under the excuse of safeguarding their national interests," Javad Yarjan was also quoted as saying by Shana.
"OPEC and non-OPEC members should not follow US foreign policies, as it will further destabilize global economy and oil trades," he added.
Around 101,000 tons of fresh tea leaves worth 2.01 trillion rials ($17.1 million) have been purchased from local farmers since the beginning of the current Iranian year on March 21, registering a 4% increase compared with the similar period of last year, the head of Iran Tea Organization said.
“So far, 22,000 tons of processed tea have been derived from this amount of fresh leaves. We expect the harvest to stand between 110,000 and 120,000 tons by the yearend, from which around 25,000 tons of dried tea will be produced,” Habibollah Jahansaz was also quoted as saying by the Young Journalists Club.
The official added that domestic demand for tea stands at around 110,000 tons per year, and therefore, around 85,000 tons need to be imported.
The import of foreign currency does not amount to smuggling and their import, as well as those of gold, is permitted without restriction, a directive issued to all customs offices across the country by the Islamic Republic of Iran Customs Administration on Tuesday reads.
Imports of gold jewelry are also allowed after obtaining permits from the Central Bank of Iran and completion of customs formalities and paying import tax.
The import of standard gold bar is exempt from taxation and duties, as well as value added tax, IRNA reported.
More than 296 tons of chocolate worth $1.11 million were imported into Iran during the first four months of the current Iranian year (March 21-July 22), data released by the Islamic Republic of Iran Customs Administration show.
India was the biggest exporter with around 78 tons worth $273,983. Other major exporters of chocolate to Iran during the period under review were Germany, the UAE, Belgium, Turkmenistan, Poland and the Netherlands, Mizan Online news agency reported.
The first half of the year is the high season for ice cream and fruit juice shops, which witnesses high sales.
“However, sales during the first six months of the current year (March 21-Sept. 22) have decreased by 30% compared with last year’s corresponding period,” Eskandar Azmoudeh, the head of Juice, Ice Cream and Coffee Shop Union of Tehran, told ILNA.
According to the official, the fall in consumption is due to the decline in people’s purchasing power.
Renovation of terminals 1 and 2 of Tehran’s Mehrabad International Airport is expected to become complete by the end of the next fiscal year in March 2020. Mohammad Reza Zahmatkeshan, an official with Iran Airports Company, added that a total of 13 billion rials ($110,638) have been allocated for the projects, which started about a month ago, the news portal of the Ministry of Roads and Urban Development reported.
Iran traded 1.36 million tons of non-oil commodities worth $659.80 million with Oman during the first five months of the current fiscal year (March 21-Aug. 22). This registers a 53.71% and 126.6% growth 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 exports to Oman stood at 1.08 million tons worth $393.10 million, up 28.81% and 72.84% in tonnage and value respectively year-on-year. Oman was Iran’s 10th major export destination during the period. Iran mainly exported natural gas, hydrocarbons and steel to Oman during the five-month period. Oman exported 281,053 tons of goods worth $266.70 million to Iran, up 512.82% and 318.47% in tonnage and value respectively YOY. Oman was the 14th major exporter of goods to Iran over the five months. The imports mainly included vehicles, dietary supplements and field corn.
Iran's economy grew 1.7% during the first quarter of the current fiscal year (March 21-June 21) compared with last year's corresponding period, the Statistical Center of Iran said it its latest report.
The economy saw 1.9% growth without taking into account oil production, the report added.
SCI released the report a few days after the Central Bank of Iran put the GDP growth for the same period under review at 1.8%, including growth in the oil sector, and 0.7% excluding it.
The statistical center said "services" experienced the highest growth rate of 3.2% among the three major economic sectors. The "industry" group followed with 0.4%. Production by the agriculture sector shrank by 0.8%.
CBI said the services sector grew by 1.1% while the agriculture and industries and mines sectors grew by 0.3% and 0.1% respectively.
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Cryptocurrency transactions in Iran have significantly declined since April when a blanket ban came into effect.
As Sepehr Mohammadi, chairman of the Blockchain Association of Iran, pointed out on Friday that since cryptocurrency transactions were outlawed in Iran and moved underground, it has become impossible to get a clear image of transactions through online exchanges.
“But we can announce an estimate based on figures, which shows about 1,000 Bitcoins were transacted in Iran per day before the ban while the number has now declined to about 300 per day,” he told IBENA.
Shortly after the Iranian government unsuccessfully tried to fix the US dollar’s exchange rate to shore up the rial late April, the Central Bank of Iran implemented a directive that officially prohibited all financial institutions, including banks and credit institutions, from handling crpytocurrencies.
The decision was made by the High Council of Anti-Money Laundering for preventing a further capital flight
Iran's housing and construction sector registered a fourth consecutive positive growth rate during the quarter to June 21, the latest figures disclosed by the Central Bank of Iran show.
According to a report published on the monetary regulator's website, the key sector registered a small growth rate of 0.1% this spring in what many believe could be its last such growth in the foreseeable future.
Even as prospects are not very bright, the tiny growth registered during the period is actually a vast improvement compared with the similar period of last year when the sector had contracted by 3.5% when it was still mired in its longest-running recession in recent memory, which lasted for more than five years.
But after the final contraction last spring, the sector registered consecutive growths of 3.1%, 1.4% and 2% in the next three quarters. Overall, the sector's growth was equal to 1.2% during the whole of the previous fiscal year that ended on March 20, 2018.
A man has been arrested for smuggling $38,000 from Afghanistan to Iran, an Afghan official said on Tuesday. The cash was being carried to the neighboring country in a cement truck, said Jelani Farhad, a spokesman for the border province of Herat, Afghanistan’s 1TV reported. The discovery was made at the border, he said. A total of 50 people have been arrested for smuggling currency to Iran at Islam Qala border crossing over the past three months, the official said. According to the TV channel, millions of dollars are smuggled daily across the Afghan-Iran border after the US reimposed sanctions on Iran in August. Iranian authorities, however, do not consider the act as smuggling, as the Central Bank of Iran recently authorized the import of foreign exchange and gold into the country without any restrictions, as long as anti-money laundering regulations are observed.
Esfahan Steel Company has produced 1,000 tons of UIC60 rails based on the latest international standards, the manager of the Rolling Engineering Department of ESCO said. “We were totally reliant on the competence and knowledge of Iranian experts in the manufacture of these UIC60 rails. The company is ready and has the capacity for launching the rail’s mass production,” Mohammad Amin Yousefzadeh was quoted as saying by IRNA. Islamic Republic of Iran Railways and ESCO signed an agreement in July 2014 for the production of UIC60 rails, with the delivery deadline set for September 2015. ESCO missed the deadline and no new developments took place until late 2016 when the company launched its new rail production line in cooperation with the German Kuttner Company. UIC60 rails are capable of supporting high-speed trains.
Major Iranian copper producers produced 488,859 tons of copper concentrate during the first five months of the current fiscal year (March 21-Aug. 22), which indicates a 12% growth compared with last year’s corresponding period.
Sarcheshmeh Copper Complex accounted for 248,933 tons of the total figure, up 17% year-on-year. It was followed by Sungun complex with 139,978 and Miduk complex with 63,948 tons, data released by Iranian Mines and Mining Industries Development and Renovation Organization showed.
Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced an aggregate of 118,827 tons of copper anode, up 66% YOY, while Sarcheshmeh Copper Complex and Miduk complex produced a total of 93,797 tons of copper cathode during the period, up 63% YOY.
Copper oxide ore extraction hit 75.87 million tons in the five-month period, up 11% YOY. Sulfide ore extraction was up 11% to 22.47 million tons.
Looking for a job and finding better employment were the main reasons behind internal migration in Iran in the last Iranian year (ended March 20, 2018) after “following family’s decision”.
The finding has been made after the Ministry of Cooperatives, Labor and Social Welfare conducted a recent study.
The population of Iran’s internal migrants reached 684,000 last year, of whom around 567,000 resided in urban areas and 117,000 in rural areas.
Tehran Stock Exchange’s main index lost 157,328.7 points or 0.47% on Tuesday to end trading in last week at 157,328.7.
About 3.61 billion shares valued at $81.86 million changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday. The two exchanges were closed this Wednesday due to national holidays.
Damavand Mining Company was the biggest winner, as its shares went up 14.9% to 43,996 rials per share. Shiraz Petrochemical Company incurred the biggest loss among all TSE-listed companies and went down 4.94% to 5,617 rials per share. Persian Gulf Petrochemical Industries Company was the biggest laggard behind the benchmark’s fall, followed by Parsian Oil and Gas Development Group and Tamin Petroleum and Petrochemical Investment Company.
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Iran's leading e-commerce service Digikala has launched an affiliate marketing platform as a strategy to expand its market reach and fortify its presence, following extensive lay-offs that proved that the company is in dire need of a shake-up to weather the economic storm the country is currently facing.
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by that entity's own marketing efforts, reported Digiato.
During a gathering held in the Homa Hotel in Tehran on Sunday morning, the company's CEO Hamid Mohammadi elaborated on the marketing strategy which he hopes will broaden the e-store's range of services and products.
Mohammadi said, "To bring variety to our products, we realized the need for content production and marketing. Websites, groups on messenger apps and Instagram pages which can circulate content can use this new system as a source of income."
Some 180 online hospitality agencies whose websites were blocked due to a judicial order are back online after the ICT Ministry censured the blockade as heavy-handed and wrong.
Last week, following a media frenzy over online travel agencies overcharging customers, the judiciary issued an order whose enforcement made the website of 180 e-travel agencies inaccessible. Since then and following a public backlash and ICT Ministry's mounting pressure on the judiciary, the ban has been removed, Peivast reported.
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Iran's Cultural Heritage, Handicrafts and Tourism Organization announced in a statement that it will not organize an independent ceremony for World Tourism Day 2018 that is to be observed globally on Sept. 27, but noted that visitors will be admitted free of charge to all museums, palaces and other centers under its jurisdiction nationwide on the occasion.
According to the announcement, ICHHTO's decision to opt out of World Tourism Day ceremonies is both out of deference to religious mourning rituals and to avoid multiple similar events, CHTN reported.
This year's tourism day coincides with the mourning period of the Islamic month of Moharram when Iranians commemorate the martyrdom anniversary of Imam Hussein (PBUH), one of the most revered figures of Shia Islam.
Six Neolithic sites have been unearthed during archaeological research projects carried out jointly by Danish and Iranian experts in Razavar Valley in Kermanshah Province.
The excavations in the area were aimed at discovering sites containing the remains of Epipalaeolithic and Neolithic periods, identification of strategies developed at the time for environmental exploitation as well as assessing the conditions of the northern valleys of the Central Zagros region at that time, the Research Institute for Cultural Heritage and Tourism reported.
The number of domestic and foreign tourists to the capital has experienced a decline of over 50% during the first half of the current Iranian year (started March 21), said a top official at the provincial office of Iran's Cultural Heritage, Handicrafts and Tourism Organization.
According to Delavar Bozorgnia, head of Tehran's ICHHTO office, 302,216 foreign travelers have arrived in Tehran since the beginning of the current year down from 626,195 tourists during the same period last year.
"From the domestic market, the province has received 211,368 tourists while it was host to 514,899 visitors last year in the same period," he was quoted as saying by ILNA.
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