Gaining strong guarantees is among Iran’s key targets in talks to revive the 2015 nuclear deal, without which any agreement could be violated again as in the past, a senior diplomat said.
Gaining strong guarantees is among Iran’s key targets in talks to revive the 2015 nuclear deal, without which any agreement could be violated again as in the past, a senior diplomat said.
Indian Minister of External Affairs Subrahmanyam Jaishankar expressed hope for expansion of long-term relations between Tehran and New Delhi in various sectors.
Nuclear power will be key for Japan’s energy security as the country targets carbon neutrality, said Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura.
A total of 3,000 small-scale solar systems will be built in Ardabil Province, said the director general of Small-Scale Systems Development Department at Iran's Renewable Energy and Energy Efficiency Organization (Satba).
“In the project that seeks to create sustainable employment for the less fortunate, 3,000 5-kilowatt solar power stations will be installed across the northwestern province,” Jafar Mohammadnejad Sigaroudi was also quoted as saying by the Energy Ministry’s news portal Paven.
Avoiding the use of fossil fuels, helping preserve the environment, saving water consumption, removing deprivation, supporting domestic construction and developing clean energy are among the advantages of the program.
Oil prices climbed more than $1 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and support prices at a meeting later in the day.
With temperature falling from 40 degrees Celsius in June and July to around 30 in September, power exports have witnessed an uptrend over the last 10 days as household electricity demand declines, the head of Iran Power Generation, Distribution and Transmission Company (Tavanir) said.
“Power exports have reached 1,000 megawatts per day and it will exceed 1,500 MW soon, while imports are as low as 350 MW on a daily basis,” Arash Kordi was also quoted as saying by ILNA on Monday.
Selling electricity to neighboring nations, including Iraq, Pakistan and Afghanistan is a top priority for the state-run Tavanir, a subsidiary of the Energy Ministry, as it is the only source of foreign currency revenues, he added.
The National Iranian Gas Company supplied close to 265 billion cubic meters of natural gas to households, industries, commercial units and power stations between July 2021 and June 2022, the managing director of Iranian Gas Transmission Company said.
“NIGC transferred about 852 million cubic meters of gas on Jan. 6, 2022, that was the highest daily volume ever transferred since the firm was established in 1965,” Gholamabbas Hosseini was also quoted as saying by the Energy Today website.
The length of gas transfer pipeline in Iran has exceeded 38,000 kilometers and close to 1,000 km were added to the grid in the one-year period, he added.
nderstanding the changing landscape of Iran’s economy is of utmost importance for both politicians and private business owners.
Since 2018, an important phase began in Iran’s economy. Following the reimposition of sanctions, the role of oil in the government’s budget and economy diminished. Before that, the government used to inject foreign-source earnings from oil and gas exports into the country’s economy through the public budget as well as the budget of state-owned companies and the National Development Fund of Iran.
Industrial, trade and even agricultural sectors depended on oil revenue; the taxation system relied on the government’s oil budget directly (via taxes on salaries of public sector employees and state-owned companies) or indirectly. But this course of action has undergone a sea change, Ali Cheshomi, an economist, prefaced his article for the Persian-language economic daily Donya-e-Eqtesad with this note. A translation of the text follows:
Iran and Turkey traded $3.24 billion worth of goods during the first seven months of 2022 to register a 33.6% year-on-year rise, latest data released by the Turkish Statistical Institute show.
Iranian exports stood at $1.89 billion, up 55.15% year-on-year, while imports grew by 11.9% to $1.34 billion.
Bilateral trade stood at $379 million in July, down 0.5% YOY, with Turkish exports at $192.42 million, down 8.44% YOY, and Iranian exports at $186.59 million, registering a 9.28% growth YOY.
Exports to Iraq via three border crossings of Shalamcheh, Chazzabeh and Mehran have been suspended until Sept. 17 to make room for pilgrims traveling during the Arbaeen pilgrimage, the spokesperson of the Islamic Republic of Iran Customs Administration announced.
The Statistical Center of Iran has published a new report on home and land prices, as well as rent levels in the country’s urban areas during the third quarter of last fiscal year (Sept. 23-Dec. 21, 2021).
The report shows the number of residential home sales grew by 43.2% as that of rent deals rose 257.1% on a year-on-year basis.
According to the report published on SCI’s website, the average price of each square meter of land or land of a rundown residential property (residential units that are considered old to a degree that only the underlying land is useful for construction) in Iranian cities went up by 24.7% in Q3 compared with the corresponding period of the year before. Prices increased by 2% compared with the preceding quarter (Q2).
The fertility rate in Iran has been on decline in recent years.
According to the Statistical Center of Iran, the fertility rate of women in Iran (both Iranian and non-Iranian nationals) was 2.09 in the fiscal 2017-18, 1.95 in 2018-19, 1.74 in 2019-20, 1.65 in 2020-21 and 1.65 in 2021-22.
The total fertility rate of Iranian women was 2.07 in 2017-18, 1.97 in 2018-19, 1.77 in 2019-20, 1.71 in 2020-21 and 1.74 in 2021-22.
The total fertility rate in Iran increased slightly in 2021-22, thanks to the rise in the fertility rate of non-Iranians.
The fertility rate of Iranian women has been the same in 2020-21 and 2021-22.
“Education”, one of 12 groups of goods and services surveyed by the Statistical Center of Iran for calculating the inflation, registered an annualized inflation rate of 2.8% in the fifth month of the current Iranian year (July 23-Aug. 22).
Tehran stocks opened Monday in upbeat mode but sell-side pressure mounted in the middle of trade pushing the majority of large cap stocks into negative territory.
The benchmark of Tehran Stock Exchange, TEDPIX, closed flat for the second straight session. The market cap-weighted index shed 129.85 points or 0.01% ending the day at 1,426,778.77.
As in most recent sessions, the TSE’s equal-weighted index improved slightly gaining 0.35%, reflecting the performance of small caps.
The Central Insurance company of Iran (CII) and the Vice Presidency for Science and Technology signed an agreement Monday to ease the entry of knowledge-based companies in the insurance sector.
The agreement was signed by Majid Behzadpour, the CII chief, and Sorena Sattari, Iran’s vice president for science and technology in Tehran.
Sattari said insurance is a growth industry despite restrictions and sanctions, "However, it was rather slow in adopting innovative technologies."
Head of the National Development Fund of Iran (NDFI) said repayment of loans given by the sovereign wealth fund has gained pace in recent months.
“Since the beginning of the last fiscal year [March 2021] up until now, we have collected debts three times more than the same period in the previous year,” Mehdi Qazanfari told IBENA.
NDFI is independent of the government and was set up in 2011 to curb dependency on oil and save some of the earnings from oil and gas exports for future generations.
Compartmentalizing bank accounts into business and personal financial records has advantages for customers, an official with Central Bank of Iran said.
The regulator recently instructed banks to separate the accounts that business owners use for their business needs from regular accounts.
Abouzar Soroush, the CBI deputy for supervisory affairs, said the goal is to improve transparency in the economic and financial structure of the country, which also has merit for business owners.
SAIPA unveiled its electric vehicle in the Automobile Industry Transformation Exhibition.
The exhibition, held at Tehran’s International Fairground on Aug. 25-28, was an opportunity for domestic automakers to introduce their capabilities and achievements to industrialists and customers, and prepare the ground for cooperation with other automakers.
SAIPA Group displayed the full range of its products, including Saina S hatchback electric vehicle, at this expo, Khabar Khodro reported.
The first version or the concept of this car was unveiled in the fiscal 2018-19, which is the result of cooperation between Khajeh Nasir al-Din Toosi University of Technology’s Facility of Mechanics, SAIPA Research Center and Belgium’s Punch Powertrain Company.
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