Iran is set to launch human testing for a Covid-19 vaccine developed by Razi Vaccine and Serum Research Institute, making it the second experimental vaccine to receive regulatory approval for human trials.
National
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01/19/2021 -
01/19/2021Iran’s Foreign Minister Mohammad Javad Zarif highlighted the European countries’ inaction in preserving the 2015 nuclear deal, stressing that the agreement is only alive thanks to Iran’s strategies.
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01/19/2021Iran urged the UN nuclear watchdog to avoid publishing “unnecessary” details on its nuclear program, a day after Germany, France and Britain criticized Tehran for deciding to develop uranium metal.
Energy
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01/19/2021Non-revenue water loss of the National Water and Wastewater Engineering Company (Abfa) is estimated at around 25% or 1.6 billion cubic meters per year, the company’s public relations manager said.
"Of the total annual waste, 13% is real losses [through leaks, also referred to as physical losses] and 12% is apparent losses [through theft or metering inaccuracies]," Ali Seyyedzadeh was quoted as saying by IRNA.
Real losses were around 30% in 2014, he said, and noted that Abfa has reduced it by 17% in the last seven years. Non-revenue water refers to water that has been produced and lost in different ways before it reaches consumers.
Abfa supplies close to 6.4 bcm of water to the national distribution network each year, of which massive 25% is wasted, he noted. -
01/19/2021Oil prices held steady on Monday as a better than expected quarterly rebound for China’s economy countered fears over soaring Covid-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption.
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01/19/2021Gasoline sold in big cities is compliant with Euro-4 emission standards, an official at the National Iranian Oil Products Distribution Company said.
According to Fatemeh Kahi, a study recently conducted by the Iranian National Standards Organization from Sept. to Dec. 2020 on gasoline quality indicates the fuel contains acceptable levels of sulfur and other chemicals, IRNA reported.
“Not only have sulfur levels declined compared to summer, aromatic compounds, benzene, octane and olefin also are at acceptable levels.”
As part of the study, samples of gasoline compliant with Euro-4 emission standards were collected randomly from 200 gas stations and the results revealed that sulfur and aromatic hydrocarbon levels were admissible, she said.
Domestic Economy
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01/19/2021Municipalities across the country issued permits for 137,431 housing units across Iran’s urban areas during the second quarter of the current fiscal year (June 21-Sept. 21, 2020), indicating a 34.5% increase compared with the previous quarter and a 39.3% growth compared with the corresponding quarter of last year.
These and other related data were released in the latest report of the Statistical Center of Iran.
The average number of residential units per permit across the country was 2.8 and the average floor area of residential units per permit was 524 square meters.
A total of 13,822 homes are expected to be built as a result of the permits issued by Tehran Municipality in Q2 to register a quarter-on-quarter growth of 7.8% but a year-on-year decrease of 4.9%, the report said.
In Tehran, the total floor area of units in buildings stood at 2,426,000 square meters, registering a 6.4% growth QOQ but a 9% decline YOY. -
01/19/2021The average annual growth rate of investment in the agriculture sector stood at -10.8% from the fiscal 2011-12 to fiscal 2019-20, says the head of Agricultural Planning, Economic and Rural Development Research Institute of Agriculture Ministry.
According to the Central Bank of Iran’s data, investment in the agriculture sector decreased from 87 trillion rials ($378 million at the current exchange rate) in the year ending March 2012 (using the constant prices of the same year) to 35 trillion rials ($152 million) in the year ending March 2020, indicating an annual decrease of 10.8%.
Ali Kianirad added that investment worth 55 trillion rials [$239 million] was made in the sector in the year ending March 2013, indicating a 38% decline compared with the year before. In the year ending March 2014, investment in this sector increased by 7% to reach 59 trillion rials ($256 million), Mehr News Agency reported. -
01/19/2021Iran’s export of mineral products in the first three quarters of the current fiscal year (March 20-Dec. 20) stood at 29.5 million tons worth $4.11 billion, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.
This registered a 44% and 39% decline in volume and value year-on-year, respectively.
According to IMIDRO, steel topped the list of exports in terms of value with $2.17 billion and was followed by copper with $665.8 million and cement with $268.8 million.
In terms of tonnage, cement had the largest share with 13.22 million tons, followed by steel with 5.65 million tons.
According to the IMIDRO data, alumina powder exports saw the biggest jump in terms of value (234% YOY) to reach $1.3 million, followed by aluminum products with $155.8 million (up 82% YOY), ferromolybdenum with $9.6 million (up 189% YOY) and molybdenum with $22.9 million (up 4% YOY). -
01/19/2021The first batch of India’s strategic equipment for loading and unloading cargos worth $8.5 million has arrived at Chabahar’s Shahid Beheshti Port, says Behrouz Aqaei, the head of Sistan-Baluchestan’s Ports and Maritime Organization.
“The import of the equipment is part of the $85-million build, operate, transfer contract between Ports and Maritime Organization of Iran and an Indian investor company,” he was quoted as saying by IRNA, adding that the equipment will be used for the development of Phase I of Shahid Beheshti Port.
Two 140-ton mobile harbor cranes arrived at Chabahar Pport on Saturday and are being currently unloaded, DNA India reported on Sunday.
“Fast pacing the work on the crucial Chabahar Port, the Government of India has supplied the much-awaited first shipment of mobile harbor cranes to Iran. Two 140-ton mobile harbor cranes arrived at Chabahar Port on Saturday night and are being currently unloaded,” the report said, adding that India has supplied the cranes via an Italian company called Italgru.
Business & Markets
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01/19/2021
Share prices in Tehran took a new drubbing Monday as the bruising sell-off continued extending the long streak of losses in five sessions in a row.
The main index of Tehran Stock Exchange, TEDPIX, lost more than 3% and shed 36,486 points to close at 1,150,224, the lowest since June 10. The equal-weighted index, which gives the same weight to all stocks, was down 1.71% for the day.
Stocks of 424 listed companies, which represent 90% of the market, experienced price declines. The bourse has seen net capital outflow by retail traders for five consecutive sessions reaching 14.16 trillion rials ($60 million). -
01/19/2021Data released by the Central Bank of Iran show total loans given by banks outpaced deposits in the month to October 21.
Inclination of banks to lend is shown in the subtle, but steady, increase in loan-to-deposit ratio (LDR), which grew for the third time in a row after months of decline.
With a 0.2% annual rise, the LDR stood at 79.8% indicating a 0.4% rise compared to the end of the last fiscal year (March 2020).
LDR is used to assess a bank's liquidity by comparing the total loans to total deposits for a specific period and is expressed in percentage. -
01/19/2021The Central Bank of Iran blamed European governments’ party to the landmark 2015 Iran nuclear deal for the failure of the EU trade mechanism known as the Instrument in Support of Trade Exchange (INSTEX).
In a note posted in its official twitter account, the CBI said non-performance of the payment mechanism was largely because the Europeans didn’t have "enough courage to exercise their economic sovereignty".
INSTEX was designed in January 2019 to evade the hostile US sanctions and facilitate trade between Iran and the European Union, and possibly other third parties, to save the nuclear agreement.
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01/19/2021Foreign currency prices continued to fall against the rial on Monday across Iran as panic selling took on new momentum.
The US dollar plunged to 215,000 rials, losing 13,000 rials or 6% in one day. That was the lowest price since August 9. The greenback has lost more than 12% of its values since last Wednesday. It was tagged at wholesale price of 210,480 rials at the regulated forex market in Tehran -- 7.12% or 14,970 rials lower than the previous session.
The regulated market is a network of banks and certified moneychangers under CBI auspices and deals in wholesale currency. -
01/18/2021Forex and gold prices plunged in Tehran in the past three days amid optimism about a stronger rial in the coming weeks. The dollar plunged to five-month lows on Saturday fetching 229,000 rials – down 4.5% in one day. The greenback posted 7.5% decline compared to Wednesday's close when it bought 245,000 rials.
Other major currencies also posted big losses. The UAE dirham was quoted at 65,550 rials on Saturday down 2.6% compared to a session earlier.
The euro and the UK pound sterling declined 2% and 1.9%, respectively and were quoted at 283,130 rials and 318,450 rials, according to the Persian-language economic website eghtesadnews.
International
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01/19/2021Shares of groups related to South Korean-conglomerate Samsung Group plunged on Monday after Samsung heir Jay Y Lee was sentenced to two and a half years in jail by a South Korean court on Monday.
People
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01/19/2021Tehran’s subway network requires 20 trillion rials ($88.49 million) to launch 10 stations in three lines, the CEO of Tehran Metro Company said.
Ali Emam added that the construction of these stations in Lines 3, 6 and 7 are almost complete and the additional budget is required for the purchase and installation of elevators, escalators and other equipment, IRIB News reported.
Elaborating further, Emam said the stations are Aqdasieh and Mahallati in Line 3, Sattari, Ashrafi Esfahani, Yadegar-e Emam, Marzdaran and Shahrak-e Azmayesh in Line 6 and Baqerkhan, Qiam and Tarbiat Modarres in Line 7.
"Each station requires 300 billion rials to 1.5 trillion rials [$1.32-6.63 million]. The money would also cover workers' salary for two months."
Last year (ended March 2020), Tehran Municipality was authorized to issue 15 trillion rials ($66.37 million) of participatory bonds for streamlining the public transportation system. The subway’s share of the bonds was 10 trillion rials ($44.24 million), which was supposed to be paid by October 2020.
“Only 2 trillion rials ($8.84 million) were encashed and delivered early this week,” Emam said.
