Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said on Friday that sanctions against the Iranian nation must be immediately removed without any demands.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said on Friday that sanctions against the Iranian nation must be immediately removed without any demands.
Tehran wastewater network is 90% compete and will come online in 2022 to enhance water quality and quantity in the capital, executive director of the project said.
“Of the 9,000 km wastewater network 6,800 km is in place,” Masoud Reza Sameni was quoted as saying by the Energy Ministry news portal.
Pipe-laying operations have been undertaken in most districts of the rapidly expanding capital to connect households, businesses and industrial sectors to the wastewater network, he noted.
Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia’s pledge to cut output continued to buoy market sentiment.
Work on boosting output from Azar joint oilfield in western Ilam Province will be complete soon, managing director of the Oil Industries Engineering and Construction Group said.
Oil extraction from the field started in 2017 with daily production of 15,000 barrels and reached 30,000 barrels a year later, Gholamreza Manouchehri said. With the development plan in its final stage, “production from the joint field has reached 65,000 bpd,” the Oil Ministry news agency Shana quoted him as saying.
“The contract for the field was signed in 2011 between the National Iranian Oil Company, OIEC and Ahdaf Investment Company,” he said, adding that the project cost $1.7 billion. Funding was provided by the National Development Fund of Iran and Ahdaf Company.
The plan included drilling 19 wells and constructing 320 km of oil and gas transmission pipelines. Almost 75% of the equipment used in the process was made by domestic manufacturers.
A total of 319,390 tons off commodities have been transited via Milak border terminal in the southeastern Sistan-Baluchestan Province’s Hirmand County since the beginning of the current Iranian year on March 20, 2020, showing a 25% increase compared with the similar period of last year, a local official said recently.
“Some 400 trucks commute through Milak daily to the neighboring Afghanistan, which is our gateway to Central Asian countries,” Teymour Baqeri was also quoted as saying by IRNA.
The official said Milak’s proximity to Chabahar Port, its location along the country’s East-West Transportation Corridor and recent development projects carried out at the checkpoint and the region are what make this border crossing special.
The Education and Human Resources Institute, affiliated with Tehran Chamber of Commerce, Industries, Mines and Agriculture is scheduled to hold two specialized commerce-related courses in January.
An exclusive online exhibition for Iranian exports to Iraq is scheduled to be held from Feb. 1-7, according to the director general of Arab and African Trade Affairs Department of the Trade Promotion Organization of Iran.
“The event will showcase Iranian products in the fields of construction material and equipment, detergents and toiletries, pharmaceuticals, medical equipment, furniture, interior design, food and beverages, industrial machinery, plastic products and health tourism,” Farzad Piltan was also quoted as saying by IRNA.
Iranian businesses interested in participating in the event, he added, can upload their company’s information, product presentation, adverts and brochures on the exhibition’s platform.
Piltan said that after viewing the uploaded data, which will be available in Farsi, Arabic and English, visitors can contact their companies of interest via the platform and hold negotiations.
More information on this online exhibition can be found on TPO’s website.
The average goods and services Consumer Price Index of “hotels and restaurants” in the 12-month period ending Dec. 20, which marks the end of the ninth Iranian month, increased by 25.7% compared with last year’s corresponding period.
The overall Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for the Iranian economy settled at 47.77 in the month ending Dec. 20 from 45.70 in the month ending Nov. 20, indicating 2.07 points or 4.53% improvement.
A new report by the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the survey says the “raw materials inventory” sub-index hit its 14-month high over the month under review.
The headline PMI is a number from 0 to 100, such that over 50 shows an expansion of the economy when compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.
A total of 3.13 quadrillion rials ($12.12 billion) worth of investment was made in industrial units with establishment permits, while projects with operating licenses received more than 1.36 quadrillion rials ($5.29 billion) in the first eight months of the current Iranian year (March 20-Nov. 20).
Investment volumes in units with establishment permits and operating licenses show respective a growth rate of 48.6% and 389.7% compared with the similar period of last year, the latest report released by the Ministry of Industries, Mining and Trade shows.
A total of $40 million worth of apparel were exported from Iran during the first seven months of the current Iranian year (March 20-Oct. 21, 2020), according to the deputy head of Textile and Apparel Production and Exports Union.
“This is while over the past few years, our total annual apparel exports hovered between $50 million and $60 million. We estimate that by the end of the [fiscal] year [March 20], our exports will see a 30% rise compared with last year,” Majid Nami was quoted as saying by IRNA.
Based on data released by the Islamic Republic of Iran Customs Administration, Iraq, Kuwait, Australia, Armenia, Azerbaijan, Uzbekistan, Russia, Afghanistan, Pakistan, Turkmenistan, Kyrgyzstan, Germany, South Korea, Japan, the UAE, the UK, Venezuela, Ivory Coast, Italy, Turkey, Canada, Qatar, Oman, Nigeria, Switzerland, Yemen, Georgia, Spain and Denmark were the main export destinations of Iranian apparel.
In a report on the economy in the next March 2021-22 fiscal year, the Majlis Research Center said inflation will largely be the inability of the government performance in realizing its budget projections and the stabilizing monetary variables.
The research center of the parliament said the manner in which the government finances the budget deficit and controls the monetary base to regulate money supply are key long-term factors impacting inflation.
High inflation expectations emanating either from budget deficits or increase in forex rates, as short-term causes affecting inflation, determines the speed at which "every single rial increase in monetary base leads to inflation".
According to the MRC report posted on its website "When inflation expectations are high, long-term bank deposits shift to short-term accounts and money flows to the financial markets, durable goods and ultimately to consumer goods.
Banks gave 659,000 marriage loans worth 344 trillion rials ($1.37 billion) to newlyweds since the beginning of the current fiscal year last March to December 10.
According to Ali-Asghar Mirmohammad-Sadeghi, the Central Bank of Iran vice governor for credit department, marriage loans have continued since inception in 1985 and are reflected in government budgets in the past five years. Marriage loans are interest-free bank loans to be repaid in five years.
The governor of Central Bank of Iran said he hopes stability in financial markets would be restored in the coming weeks as "excitement arising from political developments ebbs".
In a note posted on his social media account Thursday, Abdolnaaser Hemmati said such hopes have arisen from the probable "increase in crude oil and petroleum exports" and promising reports about unlocking CBI assets overseas.
Apparently taking into account political developments in the United States, Hemmati posted the note on his Instagram account hours after the US Congress certified Joe Biden as the next president.
Gold prices in Iran slipped on Thursday influenced more from trends in international markets than domestic forex rates.
President Hassan Rouhani launched several technology development projects worth 4.52 trillion rials ($17.65 million) on Thursday to create 7,150 jobs.
During a Thursday event, President Rouhani inaugurated the projects in Khorasan Razavi, Fars, Kermanshah and Alborz provinces via videoconference, the Vice Presidential Office for Science and Technology reported on its website Isti.ir.
The first center coming on stream is an innovation factory in the shrine city of Mashhad, the provincial center of Khorasan Razavi. The factory will gather startups, knowledge-based companies and accelerators in a small-scale ecosystem and devise smart solutions for industries and businesses.
Located near Ferdowsi University, the innovation center with two industrial units is spread over 3.7 hectares.
“An abandoned soft drinks factory has been repurposed and retrofitted. The factory offers shared workspace, laboratory, innovation rooms for children, training hall, amphitheater, content development class, network development service center and a café,” Vice President for Science and Technology Sorena Sattari said at the event.
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