The Joint Commission of the Joint Comprehensive Plan of Action on Tehran’s nuclear program will convene in a physical format on November 29 in Vienna, the European External Action Service announced on Thursday in a statement posted on its website.
The Joint Commission of the Joint Comprehensive Plan of Action on Tehran’s nuclear program will convene in a physical format on November 29 in Vienna, the European External Action Service announced on Thursday in a statement posted on its website.
Health Minister Bahram Einollahi announced on Thursday that some 80% of Iran’s target population have been given a first dose of Covid-19 vaccine.
Iran’s top diplomat said the Islamic Republic and the neighboring Republic of Azerbaijan are determined to overcome obstacles on the path of promoting friendly relations.
Oil prices rose around 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a US call to raise supply and instead maintained plans for a gradual return of output halted by the pandemic.
Since a month ago when the rains started, gas consumption has increased by 100% compared with the same period of last year, the head of dispatching operations at the National Iranian Gas Company said.
There are 76 desalination plants in northern and southern coastal regions in Iran with a capacity of processing 407,000 cubic meters of saline water per day that will reach 800,000 cm/d by 2025, the head of Department of Financial Affairs in the National Water and Wastewater Engineering Company of Iran (Abfa) said.
“A total of 15 desalination projects with a processing capacity of 156,000 cubic meters of saline water will become operational in 2022,” Fariba Golrizan was also quoted as saying by ISNA.
To tackle the country’s water shortage, desalination is becoming an attractive method to supply water to households and industries.
“All initiatives are being undertaken by the private sector in the dry provinces of the south and the current processing capacity is expected to reach 567,000 cubic meters per day over the next 15 months,” she said.
Manufacturing the reactors of Dehdasht Petrochemical Company in Kohgilouyeh-Boyerahmad Province has registered 85% progress, managing director of the company said.
“The reactors are being manufactured by domestic experts and engineers at AzarAb Industries and will be delivered to the plant in February 2022,” Mohammad Reza Sahebnasaq was also quoted as saying by the Oil Ministry’s news agency Shana.
Located in Arak, Markazi Province, AzarAb Industries manufactures equipment used in petrochemical plants, power stations, factories and oil and gas refineries. Its main products include reactors, air preheaters, boilers, butterfly valves, water turbines, fractionating columns and pressure vessels.
A total of 164 Iranian companies and brands have signed up to take part in Iran’s Second Specialized Exhibition in Syria, which is scheduled to be held in Damascus from Nov. 29 to Dec. 3.
“This shows how eager Iran’s businesses are to find a market and gain a share in Syria,” says CEO of Iran International Exhibitions Company.
“Some 70% of these companies and businesses are owned by the private sector. Agreements and contracts have been lined up by the two sides during the expo. We are positive that the Iranian private sector’s share in the Syrian market will experience a jump after this event,” Hassan Zamani was also quoted as saying by IRNA.
The official noted that one of the main goals of the Cabinet is to provide hands-on support to the private sector for them to be able to realize their full potential.
Representatives of Iran and the Eurasian Economic Union will meet soon in Armenia to discuss a new agreement, Armenia’s Deputy Foreign Minister Armen Ghevondyan said during a Thursday discussion on the draft state budget for 2022 in parliament.
Ghevondyan recalled that the temporary agreement, which was signed between Iran and the Eurasian Economic Union and entered into force in 2019, expires in 2022, News.am reported.
“We’re currently working on making the interim agreement permanent and have planned discussions in Yerevan,” Ghevondyan added.
Tajikistan has discussed the use of Iranian seaports for expansion of trade with countries in the region.
Iran’s business environment remained unchanged in the second quarter of the current year (June 22-Sept. 22) compared to the previous quarter, Iran Chamber of Commerce, Industries, Mines and Agriculture reported.
Iran’s National Business Environment Index stood at 5.91 in Q2 (summer) of the current fiscal year to register a 0.01 percentage point or 0.16% increase compared with the preceding quarter (spring) but a 0.14 percentage point or 2.31% decrease compared with the corresponding quarter of last year, the chamber said in a report published on its website.
The index calculated by ICCIMA measures the business friendliness of Iran’s economy, with 10 indicating the worst grade. In other words, the decline in the index is indicative of an improving business environment.
Iran’s National Business Environment Index stood at 5.9 in Q1 (March 21-June 21) and 5.80 in Q4 (Dec. 21, 2020-March 20).
Tehran’s housing Consumer Price Index in the 12-month period ending Oct. 22, which marks the end of the seventh Iranian month, increased by 59.3% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Sept. 22, at 67.3%.
The housing inflation for the month under review (Sept. 23-Oct. 22) registered a year-on-year increase of 22.4% and a month-on-month increase of 23.8% compared to the month ending Sept. 22.
Agriculture exports reached $6 billion in the fiscal 2020-21, of which $3.2 billion constituted horticultural exports.
Non-performing loans (NPLs) of Iranian banks and credit institutions reached 2,250 trillion rials ($8.3 billion) by the end of the first quarter of the current fiscal year (June 21), the Central Bank of Iran said.
Compared to the January-March quarter, NPLs shot up by 20%. It was 3.7% higher on an annualized basis, the Tehran Chamber of Commerce, Industries, Mines and Agriculture said, citing CBI data.
Tracking banking data in the past three years, TCCIM said the NPL growth has been uneven but on the whole is of the ascending order.
NPLs were logged at 1,510 trillion rials ($5.5b) in early 2019, before rising to 1,740 trillion rials ($6.4b) in June 2019 and to 2,170 trillion rials ($8b) as of June 2020.
Private insurance companies recorded 89% increase in collective investment in IT projects in the last Iranian year (ended March 2021), a recent study shows.
Risknews reviewed private insurance companies’ financial statements for the year, according to which 934 billion rials ($3 million) went into expanding IT infrastructure. The year before the amount 440 billion rials.
Parsian Insurance Company, affiliated to Parsian Bank, topped the list with 130 billion rials. Saman Insurance owned by Saman Bank was next with 116 billion rials, followed by Asia Insurance.
Novin Insurance Company, affiliated to EN Bank, was at the bottom end along with Ta’avon Insurance and Moallem Insurance.
The long anticipated plan to bring auto trade to the capital market is reportedly coming to fruition.
Carmakers are set to offer vehicles at the Iran Mercantile Exchange and the IME says there is no barrier to selling a limited number of cars via this market.
“Cars that are not subject to pricing mechanism [by the government] can be offered at the IME” Javad Jahromi, the IME deputy for operations told IRIB news.
Tehran stocks showed signs of recovery in the middle of the last trading week after posting a string of losses over several weeks.
The benchmark of Tehran Stock Exchange, TEDPIX, closed trading week slightly in positive territory, gaining 4,456 points or 0.3% overall. This index lost 3% a week before.
Big gainers were mainly large caps, which enjoyed strong support from institutional traders. Except for a rally in the previous session on Wednesday, small caps stumbled throughout the week dragging down the TSE equal-weighted index by 0.6%. However, that was still an improvement over the 5% decline a week before.
Iran’s Vice Presidential Office for Science and Technology is to inaugurate four tech projects in the northeastern province of Golestan this week, the head of the province’s tech park said.
Mehdi Ghaffari added that the projects have been implemented with an investment of 160 billion rials ($577,600) by the vice presidential office, which will create over 700 jobs in the province, Tasnim News agency reported.
The most important project is the first phase of an innovation factory in the provincial center of Gorgan.
Ghaffari noted that the factory’s preliminary phase is spread over 8,000 square meters.
“Upon its completion, the complex will extend up to 500,000 sqm and gather a large number of local tech teams and startups working on a variety of issues.
The second project coming on stream will be another innovation factory in Gonbad-e Kavous county, covering an area of 1,200 square meters.
Iran’s business environment remained unchanged in the second quarter of the current year (June 22-Sept. 22) compared to the previous quarter, Iran Chamber of Commerce, Industries, Mines and Agriculture reported.
Iran’s National Business Environment Index stood at 5.91 in Q2 (summer) of the current fiscal year to register a 0.01 percentage point or 0.16% increase compared with the preceding quarter (spring) but a 0.14 percentage point or 2.31% decrease compared with the corresponding quarter of last year, the chamber said in a report published on its website.
The index calculated by ICCIMA measures the business friendliness of Iran’s economy, with 10 indicating the worst grade. In other words, the decline in the index is indicative of an improving business environment.
Iran’s National Business Environment Index stood at 5.9 in Q1 (March 21-June 21) and 5.80 in Q4 (Dec. 21, 2020-March 20).
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