Millions of Iranians observed Ashura, which marks the martyrdom anniversary of Imam Hussein (PBUH), the third Shia Imam and the grandson of Prophet Muhammad (PBUH).
Millions of Iranians observed Ashura, which marks the martyrdom anniversary of Imam Hussein (PBUH), the third Shia Imam and the grandson of Prophet Muhammad (PBUH).
Iran’s UN ambassador accused the United States of violating the nuclear Non-Proliferation Treaty by modernizing its nuclear weapons instead of moving toward disarmament.
The United Nations' atomic watchdog has confirmed that Iran is preparing to use more advanced centrifuges and called for Tehran’s "full" and "timely" cooperation, while Iranian authorities defended scaling back nuclear commitments in response to Europe's broken promises.
China has blamed the United States for tensions over Iran’s nuclear program and called for world powers to stick to their 2015 deal with Tehran, known as the Joint Comprehensive Plan of Action.
Oil futures rose slightly on Tuesday to their highest levels in almost six weeks on optimism that OPEC and other producing countries may agree to extend output cuts to support prices.
Total energy produced in Iran in 2016 was equal to energy that is produced by burning 3.4 billion barrels of crude oil, up 18% compared to 2015.
Iran Fuel Conservation Company, a subsidiary of the National Iranian Oil Company published the figures in its news portal.
It said natural gas -- at 60% -- accounted for biggest share of the energy output and crude oil at 39% was in second place. The rest came from other sources, namely renewables and coal.
Close to 1.9 billion barrels was allocated for domestic consumption, of which 1.245 billion was used in five sectors [plus petrochemical complexes] and the rest (equivalent of 655 million barrels) was wasted.
Annual petrochemical output in Iran will reach 100 million tons by 2022, managing director of the National Petrochemical Company said.
“There are 56 petrochemical companies producing 66 million tons of a variety of products a year,” the NPC news portal Nipna quoted Behzad Mohammadi as saying.
About 35 million tons including ethylene and propylene is used as feedstock in the domestic petrochemical complexes to produce derivatives such as plastics, detergents, solvents, paints, fertilizer, pesticides, synthetic fibers and rubbers. The rest of petrochemical output is sold in national and international markets.
Of the 31 million tons sold, 22.5 million tons are exported and 8.5 million tons is used in the downstream sector by local companies, Mohammadi said.
Iraq will struggle to generate enough electricity unless it continues to use Iranian gas for three to four more years, the electricity minister said on Tuesday, resisting US pressure to stop the imports from its neighbor.
Khatam al-Anbiya Construction Headquarters has signed a contract with Anzali Trade-Industrial Free Zone Organization for the construction of a Ro-Ro facility and a multi-purpose wharf at the Caspian port of Anzali.
The contract, signed on Saturday, is worth 1 trillion rials ($8.7 million).
The contract was signed between Khatam al-Anbiya Engineering Company’s Managing Director Saeed Mohammad and CEO of Anzali Free Trade Zone Reza Masrour, Iribnews.ir reported.
The Economic Security Police Department of the Islamic Republic of Iran Law Enforcement Force started anti-smuggling operations at nine sea border crossings, one air border and three land border crossings of the country on Monday.
The sea border crossings include Genaveh, Bushehr, Shahid Rajaee Port, Qeshm, Deylam and Khorramshahr. The land border crossings include Bazargan, Bashmaq and Parviz Khan.
Imam Khomeini International Airport is the only air border where the newly-formed police department will make its presence felt to curb smuggling, in cooperation with Interior Ministry, the Islamic Republic of Iran Customs Administration, Ports and Maritime Organization and Iran Road Maintenance and Transportation Organization, IRNA reported.
PMI for the fifth month of the current fiscal year (July 23-Aug. 22) settled at 45.79 from 50.07 in the preceding month (June 22-July 22), indicating a 4.28-point or 8.54% decline month-on-month.
The disappointing purchasing managers’ index (PMI) of the fifth fiscal month signals an increased risk of slowdown in Iran’s economy.
The Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture that publishes the local version of PMI also notes that summer factory closures in some industries have also contributed to the decline in the index last month.
It is 11 months now that the center is measuring PMI in Iran, under the Farsi acronym “Shamekh”. PMI is an indicator of economic health for manufacturing and services sectors. It aims to provide information about current business conditions to company decision-makers, analysts and purchasing managers.
An estimated 2.35 billion transactions worth 2,617 trillion rials ($23.05 billion) were processed by Iran's domestic payment network, Shaparak, during the fiscal month to August 22.
The latest monthly report published on Shaparak's website shows a year-on-year growth of 26.79% and 10.64% in volume and value respectively.
The volume grew by 0.62% while value fell 1.11% compared to a month earlier when more than 2.34 billion transactions worth 2,646 trillion rials ($23.31 billion) were processed.
Annual surge in the value of transactions was attributed mainly to galloping inflation. "A year-on-year comparison of the transactions’ value, after factoring out point-to-point inflation, shows 18.12% decline."
Pundits and economic experts looking closely at the key insurance sector are prone to ask one question: Why should the insurance industry be exempt from value added tax as some quarters have been demanding?
Over the months a debate is going on between fervent supporters and strong opponents of VAT, especially for the insurance industry. Subscribers to the latter school tend to believe that the nine percent VAT is untenable, a hindrance and has enough potential to hurt the industry as people become less inclined to buy insurance policy for themselves (life insurance), their cars, homes and businesses.
In their view VAT has another major minus in that it tends to undermine the socio-economic safety net. It needs mention that large sections of Iranian society are averse to VAT and see it as a pain whenever they buy, sell, pay for goods and services or go to the eateries.
Ports and Maritime Organization of Iran has launched a nationwide scheme to convert commercial ports into smart harbors, starting with Chabahar Port.
The state-owned Bank Melli Iran has signed an agreement with Iran National Innovation Fund to extend financial assistance to fledgling knowledge-based companies and startups.
A tech center has been launched in a deserted wood products factory dubbed Dayhim Innovation Factory in Pakdasht, southeast Tehran.
Backed by Dayhim Investment Group, the factory has enlisted the support of Iran’s Vice Presidential Office for Science and Technology.
According to the factory’s website, it will support startups and knowledge-based companies active in the field of robotics, Internet of Things, virtual reality, smart farming and e-health. The project is overseen by well-known Iranian entrepreneur, Shayan Shalileh.
The factory has planned laboratories for tech companies to carry out robotic and nanotech tests. It will host a tech exhibition to showcase the achievements of local startups and knowledge-based companies.
Hajj return flights from Saudi Arabia to Iran concluded on Monday, as the last flight returning Iranian hajj pilgrims from Medina, operated by Iran's flag carrier Iran Air, landed at Imam Khomeini International Airport at 1:31 a.m. local time, Iran's Civil Aviation Organization’s spokesperson announced.
According to Reza Jafarzadeh, hajj flights from 19 provinces in Iran to the Saudi cities of Jeddah and Medina began on July 8, transporting more than 88,600 Iranian pilgrims. Taking all the flights to Saudi Arabia as well as return ones into account, more than 700 flights were operated during the period.
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