The first batch of the Russian Covid-19 vaccine Sputnik V arrived in Iran on Thursday evening, as the country ramps up efforts to halt the spread of the pandemic.
The first batch of the Russian Covid-19 vaccine Sputnik V arrived in Iran on Thursday evening, as the country ramps up efforts to halt the spread of the pandemic.
Iran’s permanent mission to the United Nations said the US is no longer a participant to the 2015 nuclear deal, so it is in no position to comment on Tehran’s compliance with its obligations under the accord.
President Hassan Rouhani said Iran strongly rejects any foreign intervention in Iraq’s internal affairs, stressing that the two countries’ strong relations guarantee regional security and stability.
Iranian Investment Petrochemical Group is expanding operations and will contribute to the value chain of petrochemicals, the managing director, Rasoul Ashrafzadeh, said.
Founded in 2011 in Tehran, the company is a subsidiary of the Persian Gulf Petrochemical Industries Company (PGPIC) and has seven projects underway in different regions, ILNA reported.
"The ventures, estimated to cost $1billion, have made between 30-90% physical progress.”
Upon completion the new facilities will add at least 600,000 tons to the National Petrochemical Company’s current annual output of 50 million tons, Ashrafzadeh said.
A second dry cooling tower will be launched in summer to save water at the Shahid Mofateh Power Plant in Hamedan Province, managing director of the plant said.
The first dry tower of the plant has been in operation since 2015. “When operational, the second tower will help cut 75% of the annual water consumption,” IRNA quoted Abdolmajid Dinarvand as saying.
The main purpose of large, industrial cooling towers is to remove the heat absorbed in the circulating cooling water systems in power plants, petroleum refineries, petrochemical plants and natural gas processing plants.
Oil prices climbed on Friday to their highest levels in a year, extending a run of strong gains this week, boosted by the continued commitment of producers to hold back crude supply and positive signs of economic growth in the United States.
A 40,000-ton vessel docked at Shahid Bahonar Port in Hormozgan Province’s Bandar Abbas.
The Purchasing Managers' Index for the housing sector in the 10th month of the current Iranian year (Dec. 21, 2020-Jan. 19) settled at 58.33 from 60.67 in the preceding month (Nov. 21-Dec. 20, 2020).
Iran’s Chamber of Cooperatives has measured PMI for the country’s real-estate and construction sector, under the Farsi acronym “Shamekh”, for the 10th month of the current Iranian year ending Jan. 19.
The new data show the overall PMI settled at 58.33 in the 10th Iranian month from 60.67 in the ninth fiscal month, indicating a 3.86% decrease.
The northern wing of Plasco commercial tower, which includes 279 stores, was inaugurated on Feb. 3.
Tehran Governor Isa Farhadi noted that with the opening of Phase I of this building, a total of 837 direct and 7,000 indirect jobs have been created.
“Renovation and safety procedures worth 270 billion rials [$1.1 million] carried out for this project were totally financed by shop-owners,” he was quoted as saying by IRNA.
The 17-storey Plasco commercial tower in Jomhouri Street, Iran’s oldest high-rise and an iconic structure in downtown Tehran, built in 1962, caught fire on Jan. 19, 2017. In the incident sparked by an electrical short circuit, 16 firefighters and four civilians lost their lives and some 70 people were injured.
Iran’s spinning factories are operating at full capacity, as the capacity of cotton mills increased by 47,000-48,000 tons last fiscal year (March 2019-20), the director general of the Ministry of Industries, Mining and Trade’s Textile and Clothing Department said.
Noting that demand for locally-made clothing has increased by 20%, Afsaneh Mehrabi added, “As of last year, the country needed 120,000 tons of cotton. Last year, cotton imports stood at 98,000 tons as 60,000 tons of locally-made cotton were consumed,” Mehr News Agency reported.
“Prices of imported cotton have increased due to the depreciation of local currency. So, efforts made by Agriculture Ministry to increase import tariffs seem unjustifiable. Furthermore, sanctions have made imports even more challenging,” Mehrabi said.
The Majlis Research Center, affiliated to Iran's parliament, has recommended the mutual funds operating in the country's capital market to reduce their share of investment in banks in favor of bond market.
A mutual fund is a type of financial instrument made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets.
The research center advised funds that "maximum 30% of assets be invested in banks and credit institutions in deposits and buying banks' certificate of deposits," the report published on the MRC's website said.
The ever-expanding money supply and the rising consumer price inflation are products of the domination of fiscal policies over monetary policies, head of the Central Bank of Iran economic department said.
"Fiscal policy supremacy over monetary policy and the lack of independent monetary policymaking have always been a monumental challenge for our economy" Peyman Qorbani was quoted as saying by the news agency of the Monetary and Baking Research Institute.
The unwanted and unhelpful trend is deeply rooted in the overreliance of national budgets on oil export, Qorbani said.
The number of bad checks shot up in the month to Dec.20 reaching 893,000 or 31.1% higher compared with a month earlier.
In value terms it was 233 trillion rials ($970.8 million) indicating 5.6% hike on a monthly basis, the Central Bank of Iran reported. Bounced checks accounted for 9.4% of the total number of checks and 12.5% of the value of checks drawn during the period.
The unprecedented increase, among other things, could be explained by the large-scale business closures to contain the Covid-19 pandemic that has ruined livelihoods and economies across continents.
Several technology centers have been launched in the shrine city of Mashhad, the provincial center of Khorasan Razavi, to boost the local startup ecosystem.
During a Tuesday trip to the city, Vice President for Science and Technology Sorena Sattari inaugurated the centers, visited local innovative units and surveyed their products, Isti.ir reported.
The first center coming on stream was an innovation center and accelerator called “Shetab-e Ideh” (meaning “boosting ideas”). It will support and commercialize startup ideas in the fields of energy, construction, art, urban development, industrial design, tourism and architecture. So far, 12 startup teams have settled in the center.
Sattari also launched a startup accelerator called Kalomin, specializing in market analysis, customer services and business management.
The accelerator is planning to create a competitive atmosphere in the local market to help consumers make cost-effective purchases.
Later, Sattari visited small-scale exhibitions of tech products developed by local knowledge-based units at Toos Industrial Zone and unveiled several health-industry products of Ehya Darman Company.
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