Iran reported an uptick in coronavirus cases and deaths on Monday, logging 2,132 infections and 189 deaths, according to data compiled by the Health Ministry.
Iran reported an uptick in coronavirus cases and deaths on Monday, logging 2,132 infections and 189 deaths, according to data compiled by the Health Ministry.
An Iranian diplomat has called on the United Nations Security Council members to be vigilant about the United States’ efforts to undermine the authority of the international body.
Oil prices climbed on Monday, supported by Saudi optimism on Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the US economic recovery capped gains.
Iraq made its strongest commitment yet to implement deep cuts in crude production after the country’s oil minister and his Saudi counterpart held a phone call late Saturday.
Natural gas consumption has reached 85 billion cubic meters since the beginning of the current fiscal in late March, up 4% compared to the same period in 2019, head of National Iranian Gas Company Dispatching Department said.
“Thermal power plants accounted for the major share of consumption at 34 bcm in the 140-day period,” Mohammadreza Joulaee was quoted as saying by ILNA.
Close to 92% of Iran’s electricity (58,000 megawatts) is produced in 123 power stations most of which run on natural gas.
Giving a breakdown on NIGC’s output, he said 630 million cubic meters of gas is injected into the Iran Gas Trunkline (IGAT) per day since March 20, of which 200 mcm is for home user per day.
The water industry has raised chlorine levels by 40% in piped water to help fight the Covid-19 pandemic, head of Hygiene Department at the Tehran-based National Water and Wastewater Engineering Company of Iran (Abfa) said.
“This was done based on international health protocols and does not pose any health hazard,” Koushyar Azam Vaqefi was quoted as saying by ISNA.
In normal conditions utilities adjust maximum chlorine levels at 0.7 milligram per liter. Nonetheless, since the outbreak of coronavirus in January, Abfa has gradually increased the level to 1 milligram, up 40%, he added.
Reassuring that at this level, no harmful health effects could occur, he said, “Chlorine levels up to 4 mg/l or 4 parts per million (ppm) are considered safe for drinking water. But there will be no need to add that amount of chlorine to tap water.”
The Education and Human Resources Institute, affiliated with the Tehran Chamber of Commerce, Industries, Mines and Agriculture, is scheduled to hold three educational events on project management, trade dispute settlements and employee performance assessment this summer.
Iranian aluminum producers had a total output of 138,781 tons of aluminum ingots during the first four months of the current Iranian year (March 20-July 20) to register a 67% increase compared with the corresponding period of last year.
According to the latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), flagship producer Iran Aluminum Company (IRALCO) accounted for 64,481 tons of the total output, posting a 5% rise year-on-year.
IRALCO is the top producer of aluminum in Iran. The plant, inaugurated in 1972, has an annual production capacity of 180,000.
It was followed by Hormozal Aluminum Company with 30,449 tons, up 186% YOY; Almahdi Aluminum Company with 24,091 tons, up 146% YOY; South Aluminum Company (SALCO) with 12,837 tons, registering no significant change YOY and Iran Alumina Company with 6,922 tons, showing a 342% upsurge.
Demand for home appliance repair has increased by 90% on the back of price hikes, the secretary of Tehran Home Appliance Sellers Association said.
“The rise in prices and decline in people’s purchasing power have pushed the market into recession. There are practically no customers in the store, except for dowry purchases,” Akbar Pazouki added.
Noting that providing working capital is the only way to help manufacturers boost production, Pazouki said, “Local producers have managed to increase their output by 30-100% in recent years, but their supply has yet to meet the total market demand. Offering loans to producers rather than customers would lead to more production and consequently lower end prices.”
A total of 1.34 million tons of commodities worth $562 million were exported from Parvizkhan border crossing in Kermanshah Province’s Qasr-e-Shirin County during the first four months of the current Iranian year (March 20-July 21), which made it the busiest checkpoint of the western Iranian province over the period.
A total of 173,062 tons of bananas worth $113.68 million were imported into Iran during the first four months of the current Iranian year (March 20-July 21).
Iran’s commercial transactions with the US stood at $23.8 million during the first six months of 2020 to register a 51.1% decline compared with the corresponding period of 2019.
The Consumer Price Index of "leisure and culture" group, with a coefficient of 1.65%, stood at 284.4 in the month ending July 21, which marks the end of the fourth Iranian month, indicating a 7% rise compared with the month before—the highest monthly growth among 12 groups of the basket of consumer goods and services purchased by households.
A total of 16.04 million tons of iron ore concentrates were produced in Iran during the four months ending July 21 to register a 1% rise compared with the corresponding period of last fiscal year.
Latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show Golgohar Mining and Industrial Complex accounted for 5.23 million tons of the total output (down 5% YOY).
It was followed by Chadormalu Mining and Industrial Complex with 3.61 million tons (up 6% YOY), Middle East Mines and Mining Industries Development Holding Company with 2.3 million tons (up 34% YOY), Goharzamin Iron Ore Company with 1.39 million tons (down 4% YOY), Iran Central Iron Ore Company with 1.35 million tons (down 21% YOY), National Development Industrial and Mineral Company with 836,292 tons (up 23% YOY), Opal Parsian Sangan with 684,775 tons (down 30% YOY), Sabanour Mining and Industrial Development Company with 439,879 tons (up 59% YOY) and Jalalabad Iron Ore Complex with 168,767 tons (down 2% YOY).
The Purchasing Managers’ Index for industries during the fourth month of the current fiscal year (June 21-July 21) settled at 55.25 from 56.80 in the preceding month (May 21-June 20), indicating a 2.73% decrease.
The announcement was made by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. The center is measuring PMI, known by its Farsi acronym Shamekh, in Iran since past 22 months.
PMI is an indicator of economic health for manufacturing and services sectors. It provides information about current business conditions to companies’ decision-makers, analysts and purchasing managers.
The headline PMI is a number from 0 to 100. A PMI above 50 represents an expansion compared with the previous month. A PMI reading under 50 represents a contraction, and a reading at 50 indicates no change. The further away from 50, the greater the level of change.
After a short-lived downturn a day earlier, major currencies climbed again on Monday with the dollar drawing closer to 220,000 rials at the end of trading session.
After losing close to 9% and dropping to 215,000 rials on Sunday, the greenback fell further at the beginning of Monday’s session and sold for 210,000 rials. The currency was supported at the threshold level as prices resisted more decline.
The dollar eked out gains during the session and finally closed at 219,000 rials, up 4,000 rials, or 1.8%. It had declined sharply a session earlier, riding on the declining expectations spurred by positive economic developments announced by President Hassan Rouhani last week.
The state-owned Small Industries Investment Guarantee Fund provided coverage for 6.223 trillion rials ($26 million) in investments in small and medium-enterprises in the past three years.
Tehran stocks took an unexpected drubbing Monday following reports that the government had a change of heart and was suspending share offers in four refineries via exchange-traded funds.
The Tehran Stock Exchange opened Monday’s session on a strong note and its main index, TEDPIX, gained more than 26,000 points in the early hours of trade before investors lost sentiment and rushed to sell on the perception that shares in big listed companies, mostly affiliated to the government, could plunge as the ETF divestment scheme is no more.
With sell-off pressure piling up, TEDPIX pared gains and lost 13,437 points to close 0.65% lower. The equal-weighted index fell by 1.62%.
Iranian urban managers’ struggle to upgrade public transport fleet has been delayed by the country’s sanction-induced and Covid-19 enhanced economic problems.
To address the thorny issue, officials resorted to different strategies that have not always produced the desired result.
Tehran Municipality is prodding the government of President Hassan Rouhani to invest in public transportation so that urban managers could add 1,000 new buses to the capital’s public transportation fleet by the current Iranian yearend (March 2021).
According to Manaf Hashemi, Tehran Municipality’s deputy for traffic and transportation affairs, the overhaul of 2,000 aging buses is also high on TM’s agenda.
Underlining the state’s role in the restoration plan, Hashemi said, “The government and the private sector have promised to finance the restoration project and work is expected to begin soon.”
Based on the arrangements, TM will first send 200 dilapidated buses to repair centers, he added.
Subscribe to our daily newsletter.
More from DEN Media Group:
© Financial Tribune Daily and Contributors 2014-2018