The International Atomic Energy Agency intends to continue engagement with Iran to reach mutual understanding, said the agency’s director general after a meeting with Iranian top nuclear chief in Tehran on Tuesday.
The International Atomic Energy Agency intends to continue engagement with Iran to reach mutual understanding, said the agency’s director general after a meeting with Iranian top nuclear chief in Tehran on Tuesday.
A senior Iranian diplomat warned regional states that the anti-Iranian comments made by American officials are nothing more than an excuse for huge bills for the sales of more arms.
US pressure on OPEC+ to pump more oil and cool red-hot crude prices has shone a spotlight on a relatively new problem for the producer group, as it does not have much extra capacity to hike output faster, even if it wanted to.
A memorandum of understanding for the construction of 150-megawatt small-scale power plants has been signed between the Khuzestan Regional Electricity Company and Safat Energy Yazd Company (Safatco).
As per the MoU, several small-scale power stations with distributed generation (DG) systems will be constructed in different parts of the southwestern province, each with a maximum production capacity of 25 MW, ISNA reported.
Khuzestan Regional Electricity Company is committed to meet all the requirements of implementing these projects, including the identification of proper sites where power plants are going to be built and guaranteeing the purchase of the generated electricity.
The construction of Kamandan Dam in Azna County, Lorestan Province, has been completed and its reservoir is ready to be filled with water, the representative of Doroud and Azna in the parliament said.
Calling it an important water project in the western province, Hossein Goudarzi added that it will be launched before the end of the current Iranian year (March 2022).
The construction of Kamandan Dam was started in 2005, but due to budget overruns and lack of funding, the project remained incomplete after 16 years, he added.
The first development phase of Abadan Refinery in Khuzestan Province, which is expected to be completed by March 2022, will not only help improve environmental conditions but also increase the supply of products complying with Euro-5 emission standards, director of the National Iranian Oil Refining and Distribution Company said.
“Registering an 85% progress, the venture includes the installation of a new crude distillation unit to replace three old units built 70 years ago,” Jalil Salari was also quoted as saying by IRNA.
“The crude processing facility is being equipped with a sulfur recovery unit to reduce mazut output to less than 25% from the present 50%,” he added.
Iran traded 36.74 million tons of goods worth $17.48 billion with Persian Gulf littoral states, namely Iraq, Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia, in the current fiscal year’s first seven months (March 21-Oct. 22), according to the latest data released by the Islamic Republic of Iran Customs Administration.
The UAE was Iran’s top trade partner among the states during the period with 13.47 million tons worth $11.19 billion. It was followed by Iraq with 2.85 million tons worth $6.11 billion, Qatar with 671,923 tons worth $91.12 million, Kuwait with 1.5 million tons worth $83.61 million and Bahrain with 6,710 tons worth $5.44 million.
Iran’s exports totaled 28.51 million tons worth $8.24 billion.
Iran annually imports $5 billion worth of essential goods from Brazil with a customs duty of up to 4% while the Islamic Republic’s exports to the South American country is less than $100 million per year, says the head of Iran-Brazil Chamber of Commerce.
When is the right time to terminate the infamous, destructive policy of subsidized imports? This is the question Mohsen Jalalpour, the former president of Iran Chamber of Commerce, Industries, Mines and Agriculture poses in an article for the Persian economic daily Donya-e-Eqtesad.
A translation of the text follows:
Opposition with the termination of subsidized foreign currency policy usually springs from three sources of concerns: political concerns, economic concerns and concerns related to political economy.
Latest data released by the Statistical Center of Iran show the downtrend in annualized inflation registered in the seventh fiscal month (ending Oct. 22) maintained momentum in the eighth month (ending Nov. 21).
The average goods and services Consumer Price Index in the 12-month period ending Nov. 21 increased by 44.4% compared with the corresponding period of the year before.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Oct. 22, at 45.4%.
Foreign exchange rates continued to rise Tuesday in Tehran’s open market extending an ascending order that started on Saturday.
The dollar was choppy reaching above 286,000 rials early in the day before retreating later to settle at 285,600 rials up 0.6%. The greenback has surged more than 1% since the beginning of the trading week in Iran on Saturday.
An estimated 8.9 million tons of goods worth over 629 trillion rials ($2.2 billion) were sold in the spot market of the Iran Mercantile Exchange in the calendar to Nov. 21.
This was 18% higher on a monthly basis in value while the increase in volume was 24%, the IME website wrote.
IME is a commodities exchange in Tehran founded in 2006 dealing in farm, industrial and petrochemical products in the spot and futures markets.
Trade in the reviewed month mainly included industrial goods and minerals weighing 7.38 million tons worth 379 trillion rials ($1.3b).
Iran's Social Security Organization covered 37.05 million people in the first quarter of the current Iranian year that started in March, posting 3.1% growth on the same period last year.
The Statistical Center of Iran said the primary insured accounted for 39% of the total. Dependents, such as spouse, parents and children of the primary insured accounted for the remaining 61%.
An estimated 471,000 new applicants were added to the SSO list during the three months that largely (91%) included the primary insured.
After a short-lived rally in the earlier session, sell-side pressure loomed large in Tehran’s share market on Tuesday reflecting investor nervousness in the highly volatile market.
The benchmark of Tehran Stock Exchange, TEDPIX, shed 2,521.58 points or 0.18% to close trade at 1,404,611.
Mounting pressure from sellers swept across a broad range of small caps dragging down the TSE equal-weighted index by 0.5%.
Despite the downswing, the market saw liquidity inflow by retail investors for the two straight sessions. Net capital input amounted to 1.18 trillion rials ($4.2 million) mainly into petrochemicals.
In a follow-up of efforts linking ICT infrastructures to rural areas, 400 billion rials ($1.4 million) have been allocated to Kerman Province.
During a visit to the province on Monday, Hossein Dehdashti, a deputy minister of information and communications technologies, said the budget will help expand ICT and internet access in 21 villages of Kerman, the ICT Ministry’s website, Ict.gov.ir, reported.
“Villages of Qalan, Dehmirza, Bideshk, Abdashtou, Ahmadabad and Ardikan are among areas that are planned to be connected to high-speed internet by the end of the current Iranian year [March 2022],” the minister said in a meeting with provincial officials.
Besides the villages, Dehdashti said, around 90 kilometers of fiber-optic cables will be laid along the rural roads, preparing the ground for the connection of 120 villages in future.
Work is also on track to develop ICT coverage in the western province of Zanjan.
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