Levan Dzhagaryan, the Russian ambassador in Tehran, expressed hope that Russia and Iran will continue cooperation and amicable ties based on respecting the mutual interests of both nations.
Levan Dzhagaryan, the Russian ambassador in Tehran, expressed hope that Russia and Iran will continue cooperation and amicable ties based on respecting the mutual interests of both nations.
The fifth wave of the Covid-19 pandemic took the tally of daily cases to over 16,000 on Monday as fatalities from the disease neared the 85,000 mark.
To establish the first regional water market in Iran for alleviating scarcity, an agreement was concluded with the private sector in Khorasan Razavi Province on Monday.
The deal was signed between Mohammad Alaei, the head of Khorasan Razavi Water Company, and Amir Farzad, managing director of a private firm named Rahrovan Sepehr Andisheh, ILNA reported.
“As per the deal and to ensure sustainable development in mining industries, the private firm is obliged to supply iron ore mines in Khaf County in the province with water in a way that ground water resources are not depleted,” Alaei said.
The production of different grades of polyethylene terephthalate (PET) products at Shahid Tondgouyan Petrochemical Company in Khuzestan Province exceeded 106,000 tons in the third month of the current Iranian year (May 22-June 21), bringing the cumulative production of the first three months of the year to 290,000 tons.
The raise in production is the result of the development programs at the company, which are aimed at diversifying the products and setting a new record in the company’s output, the Oil Ministry’s news agency Shana reported.
With the completion of several projects, the company set an annual record of 1.1 million tons of products in the last fiscal year (March 2020-21), which was unprecedented in the company’s history.
Oil prices were steady on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping up volumes to grab market share.
The polymer industry accounts for 2.2% of Iran’s non-oil exports, while the installed capacity for polymer products is more than 20 million tons, of which only 5 million tons are produced per year and half of which is exported, the chairman of the board of Iran National Plastic and Polymer Industries Association said.
“The polymer industry accounts for 1.5% of GDP and 3.6% of employment in the country,” ISNA also quoted Saeed Torkaman as saying.
“In 2020, we had a decline in polymer exports, which reached about $2.5 billion, while exports of complementary petrochemical industries were about $2.7 billion,” he added.
The Education and Human Resources Institute, affiliated with the Tehran Chamber of Commerce, Industries, Mines and Agriculture, is scheduled to hold a specialized course on arbitration.
Armenia plans to increase its nine flights to Iran per week to 11 as of next week, according to the spokesperson of the Islamic Republic of Iran Civil Aviation Organization.
A total of 200,000 tons of cotton bolls are estimated to be produced in Iran during the current Iranian year that started on March 21.
Due to drought and low precipitation levels, the estimate is lower compared with last year’s output, according to the manager of Cotton Project implemented by the Agriculture Ministry.
Last year (March 2020-21), some 270,000 tons were harvested and the production is estimated to experience a 26% decline this year.
As Iran is bracing for a fresh surge of coronavirus infections after the outbreak of the highly infectious Delta variant, a new round of restrictions have been imposed on businesses.
Accordingly, Tehran’s Grand Bazaar has been shut down as of July 4, Mehr News Agency reported.
“Any business owner found flouting the new lockdown order will be prosecuted,” say Behnam Nikmanesh of Iran Chamber of Guilds.
According to a statement by the chamber, only Group-1 businesses are allowed to operate in red-colored cities.
Out of 10,170 mines in Iran, 6,861 are active and 3,309 are inactive, according to the latest data announced by the Statistical Center of Iran.
After consecutive rallies led by large caps and blue chips, investors now appear to be leaning towards small caps that were largely sluggish in previous sessions.
While there was a general upbeat mode in the Tehran share market on Monday, the equal-weighted index of Tehran Stock Exchange outpaced TEDPIX, the TSE’s market cap weighted benchmark.
TEDPIX gained 10,842.74 points, or 0.87%, to close trade at 1,254,561.75. The TSE’s equal-weighted index climbed close to 1.2%, recording the highest daily growth since Feb. 13.
Foreign exchange rates declined in Tehran’s free market on Monday amid uncertainty about the nuclear talks in Vienna and emergence of the fifth wave of Covid-19 infections across the country.
The dollar fell below 250,000-rial level losing more than 0.85% and closed at 249,700 rials down 2,100 rials compared to Sunday's close. Bank-affiliated exchange bureaus demanded 244,540 rials for the greenback -- 0.13% lower than the previous day.
The dollar’s rise started in late May and has jumped 8% in four weeks but the trend slowed down on Saturday.
The euro lost more than 4,900 rials or 1.38% to reach 296,560 rials and the UK pound was worth 350,750 rials or 0.43% lower compared to the earlier session. The UAE dirham was quoted at 68,080 rials down 0.5%.
Iran Energy Exchange is to launch futures contracts for petroleum products in near future, the IRENEX chief said.
“The Securities and Exchange Organization approved the guidelines last week to launch the futures contracts via IRENEX,” Ali Naqavi was quoted as saying by IRNA.
Addressing the press Naqavi said the technical infrastructure is in place in coordination with Central Securities Depository of Iran, the clearing house of Iran’s capital market, and the Tehran Securities Exchange Technology Management Company.
“The trading platform is in pilot phase and we hope to launch the first oil-based futures contracts before September,” he said.
The Iran Energy Exchange and Iran Mercantile Exchange, the two commodity exchanges, approved capital increase this week.
Iran’s Trade Promotion Organization in a notice urged exporters to meet the Sept 21 deadline to repatriate their forex income.
Iran Standards and Quality Inspection Company has released a report on the quality of domestically-produced cars surveyed during the Iranian month ending May 21.
The quality watchdog is a private enterprise that works on contract with the Ministry of Industries, Mining and Trade, and publishes the ranking on its website.
The report classifies the cars in five price ranges, from the cheapest costing 870 million rials ($3,522) to the most expensive costing 10 billion rials ($40,485).
The company quotes the vehicles’ factory price, while the vehicles are sold in the open market at a much higher price. The vehicles are then ranked from one, representing the lowest quality, to a maximum of five stars.
According to the ISQI ranking, the domestically-made cars have recorded a slight improvement in recent rounds.
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