Iraqi President Barham Salih emphasized Baghdad's desire for balanced relations with both Iran and the United States, despite the strong antagonism between the two countries.
Iraqi President Barham Salih emphasized Baghdad's desire for balanced relations with both Iran and the United States, despite the strong antagonism between the two countries.
Iran on Monday expressed concerns over incidents involving ships off the coast of the UAE and called for vigilance against any plot to destabilize the region.
The Iranian Parliament on Monday overwhelmingly passed a bill that grants citizenship rights to children born to an Iranian mother and a foreign father.
European foreign ministers and EU foreign policy chief, Federica Mogherini, met on Monday in Brussels, Belgium, to thrash out ways to keep the 2015 Iran nuclear deal alive, following the United States' unilateral withdrawal from the deal, reimposition of sanctions against Iran and intensification of tensions by deploying military vessels to the Persian Gulf.
Oil futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-US trade talks.
Most of the equipment used in thermal power plants has been indigenized, deputy of the strategic production department at the Thermal Power Plant Holding Company said Sunday.
Temperature at a steam unit rises up to 565 degrees centigrade but can get as hot as 1,260 degrees. “Equipment and parts that can withstand such high temperature obviously are sensitive. We have succeeded in making the parts with help from our universities and the Energy Research Institute,” IRNA quoted Abdolrasoul Pishahang as saying.
Local companies annually manufacture about 1,000 components used in power plants and their quality is approved by the Institute of Standards and Industrial Research of Iran.
The oil pipeline in Omidiyeh in southwestern Khuzestan Province that was ruptured due to a leakage last week has been repaired, chief executive officer of the National Iranian Oil Refining and Distribution Company said Monday.
"Feedstock supply to refineries, namely Isfahan Refinery, is back to normal," Alireza Sadeqabadi was quoted as saying by Shana.
The accident happened last week when a wheel loader hit the pipeline in the vicinity of Salehabad village which was soon evacuated.
Oil production in flood-hit Khuzestan Province in the southwest is back to normal, the managing director of National Iranian South Oil Company said Sunday.
“Only a few wells remain closed because floodwaters damaged roads leading to oil wells, and the deluge has created problems for some pipelines,” IRNA quoted Ahmad Mohammadi as saying.
Iran’s worst flooding in 70 years, which started in mid- March and lasted for a month, killed 80 people, forced more than 220,000 into emergency shelters and caused an estimated $2.5 billion in damage to roads, bridges, homes and farmland.
State-owned National Iranian Oil Company raised the official selling price differentials for all of its crude oil grades loading in June and headed to Asia by 35-65 cents per barrel from May, a company source told S&P Global Platts Monday.
Iran’s 21 major ports loaded and unloaded 11.79 million tons of commodities in the first month of the current Iranian year (March 21-April 20) to register a 5.8% decline compared with the corresponding period of last year.
According to figures published in the Ports and Maritime Organization of Iran's website, non-oil goods accounted for 8.43 million tons of the total throughput, showing a 0.24% fall year-on-year.
The remaining 3.36 million tons pertained to oil products, indicating a 17.4% decline YOY.
Container loading and unloading decreased by 36% to stand at more than 126,936 TEUs.
Iran is estimated to produce 14.5 million tons of wheat during the fiscal 2018-19 (US local marketing year), to indicate a 3.57% rise compared with the year before, the United States Department of Agriculture's latest report shows.
Tehran Province, wherein lies the capital city, registered an unemployment rate of 12.6% in the last fiscal year (March 2018-19).
The above-mentioned rate is 12.2% for urban areas of the province and 7.2% for rural areas.
“A total of 564,695 people [or 12.2%] were unemployed and 4,048,324 [or 87.8%] were employed in Tehran Province during the last Iranian year [ended March 20, 2019],” Masoud Afshin, the deputy head of Tehran Plan and Budget Organization, was quoted as saying by ILNA.
“Tehran’s working age population, those above 10 years, stood at 11,591,977 of its total population of 13.63 million (85%) in the last Iranian year.”
Iran traded 1.46 million tons of non-oil commodities worth $118 million with Bangladesh in the last fiscal year (ended March 20, 2019) to register a 4.53% and 13.89% decline in tonnage and value respectively compared with the year before, the latest data released by the Islamic Republic of Iran Customs Administration show.
In a directive to banks and credit institutions, the Central Bank of Iran obliged lenders to report banking transactions of tax payers to the Iran National Tax Administration on a monthly basis.
The rule, enshrined in this budget (March 2019-20), seeks to help promote transparency in banking transactions, alleviate money laundering and control tax evasion, IRNA reported.
As per law, on INTA’s request banks and credit institutions should provide data about bank accounts and transactions (both interbank and intra-bank) of tax payers. In addition, the law allows the CBI to freeze bank accounts of clients lacking a national ID number.
Tehran stocks pared some earlier losses on Monday to compensate for over 1.8% of its benchmark fall in earlier sessions.
After two straight sessions of bear market, which was created under massive selloff pressure, the price of almost 90% of listed companies’ stocks dropped on Sunday.
Encouraged by the general price fall, market participants turned to buying during the early hours of trading day on Monday, pushing up the TSE’s main index, TEDPIX, to 207,751 points.
Auto and bank stocks, which were among the worst performing in the previous session, gained renewed traction on Monday. However, shares of the cement group were grappling with selloff pressure.
Over 68,000 standard parallel Salaf (forward) securities for fuel oil (mazut) worth 4 trillion rials ($26.8 million) was offered Monday by the National Iranian Oil Company on the Derivative Market of Iran Energy Exchange.
According to the Securities Exchange News Agency, each security is worth the equivalent to 1 ton of fuel oil calculated in rials and based on prices mentioned in the maturity date.
Standard parallel salaf is an Islamic contract similar to futures, with the difference being that the contract’s total price must be paid in advance.
The consumer price index for the housing sector registered a year-on-year increase of 24.8% in the first Iranian month (March 21-April 20) compared with the similar month of last year.
The index stood at 140.3 for the month, indicating a 1.7% rise compared with the previous month, the Statistical Center of Iran reported.
The average index for the 12-month period ending April 20 increased by 19.7% year-on-year, SCI said.
The housing CPI for urban and rural areas stood at 140.9 and 132.1, indicating an increase of 1.8% and 1.7% respectively.
The construction material price index for Iran's capital city, Tehran, stood at 313.4 in the last Iranian year (March 2018-19) to register a 47.8% increase compared with the year before.
According to the Statistical Center of Iran’s latest report published on its website, the index stood at 212.1 in the year ending March 20, 2018, indicating a 12.3% increase compared with the previous year.
The index posted an increase in all four quarters of last year, with the sharpest quarter-on-quarter growth registered in summer (the second quarter that ended on Sept. 22, 2018) at 25.7%.
The index for summer had an increase of 49.1% compared with the second quarter of the previous year.
As a pilot plan introduced by the Industries Ministry, tires for heavy-duty vehicles will be sold at factory prices to truckers in Qazvin Province via an online platform as of May 22.
As per the scheme, which will be implemented in collaboration with interior and roads ministries, commercial vehicle drivers will be able to purchase tires at factory prices, by submitting their vehicle's specifics and ID number on the website, Mehr News Agency reported.
The online platform is yet to be publicly introduced.
If the Iranian government does not offer the local auto industries an aid package to the tune of 70 trillion rials ($466 million) soon, over 700,000 workers employed in the key sector will join the dole queue, the secretary of Iran Auto Parts Manufacturers Association claimed.
Maziar Beiglou also told local news website Asre Khodro, “During the closing months of the last fiscal year [that ended on March 20, 2019], the Central Bank of Iran promised to provide parts companies with aid packages to the tune of 110 trillion rials ($733 million), of which only $266 have been paid.”
He claimed that if the remaining 70 trillion rials ($466 million) are not paid in the coming days, the firms will suffer a financial crisis.
Government-affiliated Power Generation, Distribution and Transmission Company (Tavanir) installed 307,000 smart electricity meters in agriculture sector last year in the first phase of the National Smart Metering Program (known as Faham in Persian), operator of the project said Sunday.
In line with efforts to renovate public transportation fleet in the last Iranian year (ended March 20, 2019), 4,000 vehicles have been phased out in Mashhad, the central city of Khorasan Razavi Province.
According to Touraj Hemmati, the head of the provincial office of the Department of Environment, a total of 4,300 smog-inducing buses and taxis were phased out of the metropolis last year.
"The move will definitely ease air pollution in the city," he told YJC.
Subscribe to our daily newsletter.
More from DEN Media Group:
© Financial Tribune Daily and Contributors 2014-2018