UN Secretary-General Antonio Guterres has appealed to US President Joe Biden’s administration to lift or waive all sanctions on Iran as agreed under the 2015 nuclear deal.
UN Secretary-General Antonio Guterres has appealed to US President Joe Biden’s administration to lift or waive all sanctions on Iran as agreed under the 2015 nuclear deal.
Iran’s Health Ministry authorized the emergency use of another homegrown coronavirus vaccine developed by the Pasteur Institute, Health Minister Saeed Namaki said.
US President Joe Biden is bound to deliver on his campaign promise to rejoin the 2015 nuclear deal that his predecessor Donald Trump illegally quit, Iranian president said.
Iran began holding its largest university entrance exam on Wednesday morning amid concerns over a recent spike in Covid-19 cases and hospitalizations.
Oil prices on Wednesday extended the previous day's small gains after an industry report showed US crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as Covid-19 cases surge.
Bu-Ali Sina and Arvand petrochemical companies in Mahshahr, Khuzestan Province, are moving ahead with projects to raise their production capacity.
The former is building a paraxylene production unit, the National Petrochemical Company’s news website Nipna reported.
Paraxylene is an aromatic hydrocarbon, widely used as feedstock to produce industrial chemicals. It is a raw material used in the production of polymers and terephthalic acid for polyesters such as polyethylene terephthalate (generally known as PET).
Paraxylene is produced by catalytic reforming of petroleum naphtha. The output of Bu-Ali will be used as feedstock in Shahid Tondgouyan Petrochemical Plant to produce PET.
The supply of gasoline, diesel and other oil derivatives across the country is continuing normally and there are no worries in this regard, the head of the National Iranian Oil Products Distribution Company said.
“All refineries are up and running, and petroleum byproducts are transferred to fuel depots in major cities as usual,” Keramat Veiskarami was also quoted as saying by the Oil Ministry’s news portal.
The official reassured that gasoline inventories are full and the fuel is transferred from refineries both via pipelines and tanker trucks.
Iran’s electricity consumption reached an unprecedented record of 64,046 megawatts on Tuesday, the highest since keeping records started nearly a century ago.
The new record comes as high temperatures nationwide has driven electricity consumption to new heights, IRNA reported on the basis of information from Iran Grid Management Company, an Energy Ministry subsidiary.
The new figure (64,046 MW) shows a 19% growth (10,000 MW) compared to the same time and day a year ago.
Electricity consumption on June 20 surpassed 62,000 MW.
One person dies in a road accident every half hour in Iran, taking the annual death toll to 17,000, the Iranian Legal Medicine Organization announced.
The organization also said close to 30,000 people are annually embroiled in accidents that lead to paralysis.
The pain of losing a loved one is bigger than the terrible numbers, but the media are usually inclined to highlight the economic losses of these accidents.
According to Majlis Research Center, the research arm of the Iranian Parliament, the costs of road crashes amount to 8% of Iran’s gross domestic product. In the years ending March 2012 and March 2017, car collisions cost the economy 519 trillion rials ($2.1 billion) and 535 trillion rials ($2.17 billion) respectively, a report by the Persian-language daily Shargh reads.
The first container train sent from Helsinki (Finland) to the Indian port of Nava Sheva arrived in Iran via Astara border, IRIB News reported on Wednesday.
“The consignment, which arrived in Astara today, contains 563 tons of paper worth €535,000 carried by 32 cars. The customs formalities in the foreign transit procedure were completed in the shortest time possible so that the goods can be transported to Rasht by trucks,” Director General of Astara Customs Terminal Karim Rasouli was quoted as saying by IRNA.
The port city of Astara borders Azerbaijan Republic.
A total of 226,813 tons of commodities were exported from the northern Amirabad Port located in Mazandaran Province during the first three months of the current Iranian year (March 21-June 21), registering a 27% rise compared with the similar period of last year.
The main exported products included metals, oil products, construction materials and minerals, the news portal of the Ministry of Roads and Urban Development reported.
More than 1 million tons of different kinds of goods were imported over the same period.
The growth in overall Consumer Price Index in the third month of the current Iranian year (May 22-June 21) was the highest (4.1%) in Qazvin Province compared with the month before.
This comes as, according to data released by the Statistical Center of Iran, Hamedan Province posted the lowest month-on-month inflation of 1.2% last month.
CPI, using the Iranian year to March 2017 as the base year, stood at 316.2 for the month under review, indicating a 2.5% rise compared with the previous month.
To improve transparency in the stock market, the Securities and Exchange Organization said henceforth investors will have access to the price-to-sales ratio (P/S) via the market’s bulletin board.
The P/S ratio is one of the critical analytical and valuation tools for investors. “Information will be provided to help investors determine the value of stocks,” Vahid Roshan-Qalb, the SEO deputy chief for supervising stock issuers, was quoted as saying by SEO News Agency.
P/S can be calculated either by dividing the company’s market capitalization by its total sales over a designated period (usually 12 months) or on a per-share basis by dividing the stock price by sales per share. The P/S ratio is also known as a sales multiple or revenue multiple.
A low ratio may imply the stock as undervalued, while a ratio that is higher-than-average could indicate that the stock is overvalued.
The Cabinet on Wednesday appointed Ali Akbar Komijani as the new governor of the Central Bank of Iran.
Born in 1951, Komijani was a vice-governor of the CBI since January 2014. He was the CBI deputy chief for economic affairs between 2013 and 2014 and served as the vice governor from 1998 to 2007.
He holds a Ph.D. in Economics from the University of Wisconsin and teaches at Tehran University.
He was proposed for the top job by the Economy Minister Farhad Dejpasand. The governor must be approved by CBI’s General Assembly and the Cabinet.
Investors showed some renewed interest in government bonds at the weekly auction after having shunned the debt market for months.
In the sixth round of auctions in the current fiscal year that started in March, the government sold debt worth 15.8 trillion rials ($63 million), the majority of which was bought by banks.
Bidders were three banks for 13.9 trillion rials ($55.6m), according to a press release seen on the Central Bank of Iran website. The regulator holds the weekly auctions on behalf of the government.
Institutional traders bought 1.9 trillion rials. Their contribution to bond purchase was zero in the last four auctions.
The dollar continued to gain against the national currency on Wednesday strengthening above the critical 250,000-rial level.
In choppy trade the greenback made a brief retreat to 250,000 rials after news reports said Akbar Komijani, the vice-governor, had been appointed as the new governor of Central Bank of Iran.
The American currency later rebounded and climbed to 253,000 rials in Tehran’s open market, up 0.55% or 1,500 rials compared to Tuesday.
In a slow but steady upsurge, the dollar has gained almost 8% in the past month. The uptrend is mainly due to investors’ analysis of the political climate in general and the nuclear talks in Vienna in particular.
Leaving behind a prolonged bearish trend, Tehran’s stock market is making a slow advance with the main gauge of Tehran Stock Exchange, TEDPIX, gaining close to 9% in 10 consecutive rallies.
At the close of trading week on Wednesday, the TEDPIX added 8,443.72 points or 0.68% to end tradeat 1,256,960.15. The TSE’s equal-weighted index was up 0.43, indicating that penny stocks are also performing relatively well.
With the beginning of the hot season, the concentration of ground level ozone is on the rise in Tehran, Tehran Municipality’s data show.
According to charts published by Tehran Air Quality Control Company’s website, Airnow.tehran.ir, the residents of Iranian capital inhaled more polluted air, mostly bad ozone, in June much more than in May.
The index categorizes conditions dictated by a measure of polluting matters into good (0-50), moderate (51-100), unhealthy for sensitive groups (101-150), unhealthy (151-200), very unhealthy (201-300) and hazardous (301-500).
TAQCC data show that during June, “moderate” status was the most prevailing air condition, as the index hovered between 51 and 100 on 22 days.
Sensitive groups in the capital were advised to limit their outdoor activities due to air pollution in two consecutive days, as the index entered the threshold of unhealthy for the sensitive group (101-150) in the remaining eight days.
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