Ongoing negotiations over the revival of the 2015 nuclear deal have made good progress and the parties involved are expected to start drafting joint documents, according to a senior Iranian diplomat.
Ongoing negotiations over the revival of the 2015 nuclear deal have made good progress and the parties involved are expected to start drafting joint documents, according to a senior Iranian diplomat.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei expressed his deep condolences on the death of top general Mohammad Hejazi who passed away at the age of 65 on Sunday, as a result of the effects of chemical weapons used in the 1980-88 Iraq-imposed war.
Oil prices were lower on Monday as rising coronavirus infections in India and other countries prompted concerns that stronger measures to contain the pandemic will hit economic activity, along with demand for commodities such as crude.
A well at the Esfand Oil Field in the Persian Gulf has become operational, managing director of Drilling Company International, the executive arm of PetroIran Development Company, said.
PetroIran signed a contract with the Iranian Offshore Oil Company (IOOC) in 2018 to drill a new well that now produces 2,000 barrels of oil per day, the Oil Ministry news agency Shana reported Hamidreza Saqafi as saying.
Esfand is located 18 kilometers southeast of Siri Island. Prior to the launch of the new well, there were 29 wells operating in the field, producing 60,000 barrels of oil per day.
Due to unprecedented low precipitation last winter output from 60 hydroelectric power plants in Iran is projected to decline by at least 30% between June and September compared to a year ago.
The production level which was around 3,200 gigawatt hours last year in the 4-month period is expected to decline to 2,240 GWh, Barq News reported.
The shortfall means added pressure on thermal power stations and/or frequent outages. Hydroelectric plants have an annual output of 10,000 GWh when dams are full, but they produce less because dams are usually half empty.
A 5.9-magnitude earthquake which hit the southern province of Bushehr on Sunday partially damaged facilities of Gachsaran Oil and Gas Company.
The Education and Human Resources Institute, affiliated to Tehran Chamber of Commerce, Industries, Mines and Agriculture, is scheduled to hold three specialized courses on trade and business.
The Iranian aluminum industry produced a record high of 446,800 tons of ingots during the last Iranian year (March 2020-21).
According to the latest report released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), the output is 61% higher than that in the corresponding period of the year before, when producers' collective output reached 278,318 tons.
The flagship producer Iran Aluminum Company (IRALCO) accounted for the highest volume of output with 185,000 tons.
IRALCO, established in 1972, is the top producer of aluminum in Iran.
The Consumer Price Index of “furniture, home appliances and their maintenance” stood at 412.6 for the month that ended on March 20 (the 12th month of last fiscal year), indicating a 68.3% rise, marking the highest year-on-year increase among 12 groups of the basket of consumer goods and services purchased by households.
The average goods and services Consumer Price Index of “furniture, home appliances and their maintenance” in the 12-month period ending March 20 increased by 46.5% compared with last year’s corresponding period.
With a coefficient of 3.93%, the CPI of “furniture, home appliances and their maintenance” registered a 2.8% increase compared with the month before.
A total of 21.74 million tons of agricultural and food products worth $9.7 billion were imported into Iran during the first 11 months of the last fiscal year (ended March 20, 2021), registering a year-on-year decline of 5.7% in volume and a 17.7% fall in value.
According to the Agriculture Ministry’s latest report, feed corn had the biggest share in total imports in terms of value with $2.31 billion, followed by semi- and whole-milled rice with $820.66 million, soymeal with $693.78 million and wheat with $619.7 million.
In terms of tonnage, feed corn topped imports with 9.19 million tons, followed by wheat with 2.23 million tons, barley with 1.7 million tons and soymeal with 1.615 million tons.
Tehran is scheduled to host Eurasia Expo 2021, for the first time, from May 18 to 21, according the head of Trade Promotion Organization of Iran.
"Hosting this international exhibition will be a great opportunity to facilitate free trade negotiations [between Iran and Eurasian states]," Hamid Zadboum was also quoted as saying by IRNA.
The event has been scheduled at Tehran’s International Exhibition Center, but could be postponed due to the coronavirus pandemic.
The Eurasian Economic Union is a bloc of Russia, Kazakhstan, Armenia, Kyrgyzstan and Belarus.
A total of 5.92 quadrillion rials ($23.89 billion) worth of investments were made in industrial units for which establishment permits were issued, while projects with operating licenses are estimated to have received o 1.79 quadrillion rials ($7.22 billion) during the first 11 months of last Iranian year (March 20, 2020-Feb. 18).
Investment volumes in units with establishment permits and operating licenses show a respective growth rate of 72.8% and 235.1% compared with the similar period of the previous year, the latest report released by the Ministry of Industries, Mining and Trade shows...
Deputy Minister of Roads and Urban Development Parvaneh Aslani has clarified exceptions to mandatory extension of home lease agreements approved by the government during the Covid-19 pandemic.
“The termination of tenancies can be enforced if the landlord has secured a demolition and construction permit for their property, or if the tenant has rent arrears from before the extension of the lease and has failed to pay the rent one month after the extension of the new lease agreement,” she said.
“Landlords won’t be subject to mandatory extension if they prove that they need their properties for the use of their sons, or if the tenant does not agree with the government-mandated rent hike,” she was quoted as saying by IRNA.
Tehran stocks closed Monday again in the red extending a long streak of losses. The main gauge of Tehran Stock Exchange, TEDPIX, lost 7,920.75 points or 0.65% to end trading at 1,216,874.
In late hours of trade the sell side pressure eased on some large cap stocks, namely mineral and base metal companies.
The value of trade by retail investors jumped 120% to reach 25.3 trillion rials ($100 million) after hitting a two-year low a session earlier.
Foreign exchange rates were choppy Monday rising slightly in the early hours of trade before making a sharp retreat.
The US dollar closed at 241,500 rials in Tehran's free market down 1.4% compared to the previous session. After posting a 1.3% decline a day earlier, the greenback was quoted higher early on Monday, trading as high as 246,000 rials.
Other major currencies dropped on Monday. The euro was down 1% to fetch 290,000 rials and the UK pound sterling declined 0.93% to buy 341,840 rials. The biggest daily decline was in the UAE dirham. It sold for 64,400 rials 1.8% lower compared to Sunday.
Three projects have been unveiled to transform the transportation network of Isfahan into a smart system.
During an event on Sunday, urban managers in Isfahan unveiled Automatic Vehicle Location and Automated Fare Collection systems, as well as smart citizen cards, as key elements of a smart transportation network, IMNA reported.
The automatic vehicle location (AVL) system has been linked up to 1,300 urban buses and 300 express buses, providing urban managers with multidimensional and real-time location-based data.
AVL or tele-location system is a powerful tool for managing fleets of vehicles such as service, emergency and public transport vehicles such as buses and trains. It automatically determines and transmits the geographic location of a vehicle.
Vehicle location data, from one or more vehicles, may then be collected by a tracking system to manage an overview of vehicle’s whereabouts.
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