An Iranian lawmaker said on Friday that renewed US sanctions on Tehran will bolster unity among Iranian people against foreign threats.
An Iranian lawmaker said on Friday that renewed US sanctions on Tehran will bolster unity among Iranian people against foreign threats.
Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei said on Saturday the United States' renewed attempts to drive the Islamic Republic to capitulation will fail as proven in the past 40 years.
"There is an important reality in the 40-year-old face-off between the United States and Iran, which is sometimes overlooked, and it's the fact that the Islamic Republic of Iran has been the winner and the United States has been the loser," the Leader was quoted as saying by his official website.
Iran launched a production line for a fourth-generation all-indigenous interceptor jet in a major step toward the renovation of its air force.
In light of the dim prospects for the world economy, it is essential to strengthen economic and commercial multilateralism through frameworks such as the D-8 Organization for Economic Cooperation, the top Iranian diplomat said. D-8 (the Developing-8) is an organization geared toward expanding cooperation among eight countries, namely Iran, Indonesia, Malaysia, Bangladesh, Pakistan, Egypt, Nigeria and Turkey.
Tabriz Petrochemical Company has developed a RTO system to collect and dispose emissions from its ABS unit and the system will be operational within two weeks, the managing director said.
Siavash Derafshi said the system, built at a cost of 640 billion rials ($4.3 million), is being used in the country for the first time, NIPNA, the news agency of National Petrochemical Company, reported.
Russia’s oil production increased to 11.41 million barrels per day in October from 11.36 million bpd in September, setting a new post-Soviet record high as the largest oil companies, Rosneft and Lukoil, raised their output according to data from Russia’s Energy Ministry.
Most of the world’s top oil trading houses expect oil prices to decline next year as slowing global economic growth and rising oil supply is expected to compensate for fewer Iranian crude barrels on the market, executives at the largest oil traders said at the Reuters Global Commodities Summit on Friday.
The infrastructure to restart use of smart fuel cards for fuel rationing is almost ready, a member of the Majlis Energy Commission said.
"Under the planned rationing system the government wants to sell between 60 to 80 liters of subsidized gasoline per month per car at 10,000 rials (7 cents) per liter for vehicles with engines below 2,000 cubic centimeters," Jalal Mirzaei was quoted as saying.
Cars with engines bigger than 2000 cc will have to buy unsubsidized fuel, he said, but added that nothing has been finalized as “talks are still underway about a reasonable price” for unsubsidized gasoline on which there will be limitations.
The prospects of Indian refiners cutting their intake of Iranian crude oil to zero are unrealistic, the chairman of Indian Oil Corporation told S&P Global Platts.
The Agriculture Ministry plans to establish 2,763 hectares of greenhouses by the end of the current Iranian year (March 20, 2019), which needs investments worth 8 trillion rials ($53.5 million), the manager of the ministry's Greenhouse Expansion Project said.
“Currently, 1,357 hectares of the targeted figure are in the final stages of construction,” Valiollah Bani-Ameri was also quoted as saying by the Young Journalists Club.
The European Union, in a joint statement with France, Germany and Britain on Friday, said they regret Washington’s decision to reimpose sanctions on Iran.
Tea producers and exporters, after a dip in tea prices of more than 7%, anticipate a rebound in demand for the orthodox tea variant as well as price recovery for exports to Iran after the US decided to exempt India from trade sanctions on the West Asian country.
The United States has told Iraq that it will be allowed to keep importing crucial gas, energy supplies and food items from Iran after Washington reimposes sanctions on Tehran’s oil sector, three Iraqi officials said on Friday.
Iran launched a production line for a fourth-generation all-indigenous interceptor jet in a major step toward the renovation of its air force.
The rial rallied on Saturday paring much of its losses during the past week even as the US sanctions on Iran's oil exports are certain to take effect by Monday. According to reports from exchange bureaus, the US dollar was traded for 143,000 rials, down from 150,000 rials on Thursday.
The national currency was quoted at 165,500 to the euro and 185,000 rials to the pound, gaining against both currencies by 7,000 rials. Bahar Azadi gold coin was also down Saturday, with the benchmark coin fetching 45 million rials ($325).
Tehran Stock Exchange’s main index gained 81.54 points or 0.04% on Saturday to end trading at 183,448.8.
About 2.44 billion shares valued at $54.42 million changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
The impact of new US sanctions on the economy and the capital market is the talk of town. Experts and market observers say the restrictions have no significant effects on stocks.
Analysts and stakeholders believe the economy has been dealing with sanctions for close to four decades and the term “new sanctions taking effect on November 4” is something very close to a misnomer, Securities & Exchange News Agency reported.
Iran's Ministry of Economic Affairs and Finance has published a report on the national climate of doing business based on standards of the World Bank for the first time ever.
The official news website of the ministry has published detailed reports on a number of indices.
In recent months and following the reimposition of US sanctions, prices of goods and services in almost all sectors have increased. Motorbikes are no exception.
Head of Iran Motorcycle Sellers Association Mohammad Khadem Mansouri tells ISNA manufacturers have increased prices between 30-40%! This is while prices in the market have more than doubled.
For instance, a 125cc two-wheeler made by Tak Taz Motor now costs 63 million rials ($443). In summer the same bike sold for 45 million rials ($316). Prices were much lower in spring when the same motorbike hardly fetched 26 million rials ($183).
Line 6 of Tehran Metro will open partially in December, Tehran Metro Group CEO told reporters.
Ali Emam said 10 kilometers and four stations of the 31km line will be launched in December, ISNA reported. The line starts from Sulqan in the northwest and ends in the Dolat-Abad working district in the southeast with 29 stations.
After hemming and hawing over the completion of the line, only 10km of the line linking Dolat-Abad to Imam Hussein Square will be launched.
There are over 12,000 taxis in Karaj, capital of Alborz Province west of Tehran, of which one-third are over two decades old.
According to Karaj Municipality head of transportation affairs, Majid Kazemi, 4,700 taxis are clunkers releasing toxic emissions into the air, Mehr News Agency reported.
“As is the case in many cities, old and dilapidated cars are the main source of air pollution in Alborz,” he says.
Close to 18% of the country’s road traffic passes through Alborz as many highways connecting Tehran to other provinces criss-cross Alborz.
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