The parliament speaker said on Sunday Tehran will never hand over images from inside of some Iranian nuclear sites to the UN nuclear watchdog as a monitoring agreement with the agency has expired.
The parliament speaker said on Sunday Tehran will never hand over images from inside of some Iranian nuclear sites to the UN nuclear watchdog as a monitoring agreement with the agency has expired.
Iran’s Special Representative for Afghanistan on Thursday met with the foreign minister of Pakistan in Islamabad to discuss issues of mutual interest, including bilateral relations, Afghan peace process, and regional security.
During an event celebrating the launch of clinical trials for a sixth local Covid-19 vaccine, Health Minister Saeed Namaki on Sunday said Iran could begin exporting Covid-19 vaccines in a few months after enough of its population is immunized against the viral infection.
The 2015 nuclear deal can still be restored to its original form if the United States decides to quit its former president’s policies, an Iranian senior diplomat said.
Iran’s permanent representative to Vienna-based international organizations again responded to the UN nuclear agency chief’s unprofessional remarks concerning the Islamic Republic and its intentions.
Iran has drones with a range of 7,000 km (4,375 miles), the top commander of the Islamic Revolution Guards Corps said on Sunday.
The project to build a new pipeline to transfer water from Nahand Dam to Tabriz, capital city of East Azarbaijan Province, has registered 95% progress, managing director of the provincial Regional Water Company said.
“The new pipeline, which has cost about $2 million, will become operational in July,” Yousef Ghaffarzadeh was also quoted as saying by Mehr News Agency.
More than 13% of drinking water required by Tabriz are supplied by Nahand Dam that is located 43 kilometers north of the provincial capital.
Tight natural gas supply and a rebound in electricity consumption have combined to push thermal coal prices to the highest in a decade and insufficient rainfall in China has contributed to the trend.
The replacement of dilapidated gas turbine in 52-year-old Besat Thermal Power Plant in southern Tehran with a domestically-manufactured F-class gas turbine will help curb water consumption by 95% from 18 million liters to 800,000 liters per day, director of combined-cycle projects at the Thermal Power Plants Holding Company said.
“The Besat facility consumes 18 million liters of water per day [18,000 cubic meters per day] to generate 1.2 billion kilowatts a year, accounting for a paltry 0.4% of the total annual national electricity output at 300 billion kWh,” Alireza Nasrollahi was also quoted as saying by the Energy Ministry’s news portal on Sunday.
The new gas turbine (MGT-75), manufactured by Iranian engineers at the Turbine Engineering and Manufacturing Company (TUGA), a subsidiary of MAPNA, the engineering and energy giant, is being installed at Besat.
The first exclusive exhibition of Eurasian Economic Union member states, also known as “EURASIA EXPO 2021”, is scheduled to be held at Tehran’s International Fairgrounds from July 9 to 12.
Iran’s commercial transactions with the US amounted to $12.4 million during the first four months of 2021 to register a 28% decline compared with the corresponding period of 2020.
Despite the decline in four-month trade, bilateral exchanges in April 2021 amounted to $2.7 million, up 58% compared with $1.7 million in April 2020.
Latest data released by the US Census Bureau show Iran exported $0.1 million worth of goods to the US in the four months, indicating a 93.1% year-on-year fall.
Imports from the US stood at $12.2 million during the same period, down 15% from $17.2 million during the last fiscal year.
The Statistical Center of Iran has reviewed changes in the prices of commodities exported from and imported to the country in the fourth quarter of last fiscal year (Dec. 21, 2020-March 20) in new reports.
According to SCI, the Export Price Index, a relative indicator measuring the overall change in prices of exported goods and services, (using the year ending March 2017 as a base year), stood at 1,612.3 in Q4 in terms of rial, registering a 33% increase compared with the quarter before and a 229.8% rise compared with the same quarter of the year before.
The average EPI during the four-quarter period leading to March 20, 2021, (annualized), which marks the end of last fiscal year, witnessed a 172.2% growth compared with the corresponding period of the year before.
Drug seizures by the Islamic Republic of Iran Customs Administration over the first quarter of the current year (March 21-June 21) increased by 523% compared with the same period of last year.
The combined output of Iran’s two major coal producers stood at 84,116 tons of coal concentrates during the first two months of the current fiscal year (started March 20, 2021), lower than 107,000 tons produced during last year’s similar period, the Iranian Mines and Mining Industries Development and Renovation Organization reported on its website.
Tabas Parvadeh Coal Company accounted for 66,644 tons of the total output and Central Alborz Coal Company produced the remaining 17,000 tons.
The two companies extracted 211,400 tons of coal during the two months under review, lower than the previous year's 258,000 tons.
The average goods and services Consumer Price Index of “housing and utilities” (water, electricity, natural gas and other fuels) in the 12-month period ending June 21, which marks the end of the third Iranian month of the fiscal 2021-22, increased by 27.1% compared with last year’s corresponding period.
The CPI of the group stood at 222 for the month under review, indicating a 1.4% rise compared with the month before.
The CPI of “housing and utilities”, which has the biggest impact on total inflation rate with 35.5%, registered a year-on-year increase of 28.5%.
Tehran Province attracted $1.2 billion of foreign investments in the form of 27 contracts during the last fiscal year (ended March 20, 2021), according to Farzaneh Dehnadi, the head of Economic and Financial Affairs Directorate of Tehran Province.
“The province ranked first in terms of ‘attracting foreign investment’ and ‘the number of approved foreign investment projects’ in the country during the period,” she was quoted as saying by IRNA.
According to Vaqef Behrouzi, the deputy head of the directorate, Tehran Province accounts for a quarter of Iran’s overall gross domestic products, excluding oil production.
He noted that taxation is a major source of revenue for Tehran, adding that the province alone accounts for more than half of all tax revenues earned by the country at the provincial level.
A sharp rally that dominated Tehran stocks for more than a week lost momentum on Sunday as sell off increased when most investors sold shares to save gains.
The benchmark of Tehran Stock Exchange, TEDPIX, closed 4,747.43 points or 0.38% higher to end trade at 1,238,485.75. The gain was much lower compared to the 3.9% rise in the past two sessions.
Stocks were choppy during the session. The market cap-weighted TEDPIX was in the red in the early hours of trade before creeping into positive territory in mid-trade. Sell-side pressure mounted again in late hours of the session.
Reflecting the performance of penny stocks, the TSE’s equal-weighted index also climbed 0.37%. About 9.54 billion shares valued at 72.88 trillion rials ($303.6 million) changed hands at TSE for the day.
The Central Bank of Iran is to authorize the first neobank by the March yearend but digital banking experts doubt the readiness of the banking industry to admit fully digital players.
Last September the CBI deputy governor for innovative technologies said one or more neobanks are expected to start operation in 2021. The plan apparently is being assessed by the CBI’s executive board.
Neobank is a new type of bank available to customers only through mobile applications and personal computer platforms. These institutions are reinventing the practices and processes associated with traditional banking.
Financial services offered by the innovative lenders, mostly via a mobile app, are in accord with customers' needs mined largely from data on consumer behavior.
Loans to deposit ratio stood at 80.2% in the last month of the previous fiscal year that ended on March 21, down 1 percentage compared to the preceding month.
The ratio, however, increased by 0.8 percentage point y/y, according to data released by Central Bank of Iran.
LDR is used to assess a bank's liquidity by comparing total loans to total deposits for a specific period and is expressed in percentage.
If the ratio is too high, the bank may not have enough liquidity to cover unforeseen fund requirements. Conversely, if it is too low, the bank may not be earning as much as it should be.
Banks and credit institution took over possession of more than 1,700 properties from businesses that defaulted on their loans, said the secretary of the Coordination Council of State and Privatized Banks.
The data was published by the Iran Small Industries and Industrial Parks Organization (ISIPO), Alireza Qeitasi said. Details and names of defaulting companies were not available.
However, he noted that “acquiring the estates does not necessary mean their business are shut,” ISNA reported.
The requisitioned properties are mostly development projects and places of business and almost 60% are operational after coming under banks’ ownership.
Subscribe to our daily newsletter.
More from DEN Media Group:
© Financial Tribune Daily and Contributors 2014-2018