Heads of state from the Shanghai Cooperation Organization will sign a memorandum on Iran’s commitments in light of the Islamic Republic’s entry to the organization in the upcoming summit in Samarkand, the SCO chief announced.
Heads of state from the Shanghai Cooperation Organization will sign a memorandum on Iran’s commitments in light of the Islamic Republic’s entry to the organization in the upcoming summit in Samarkand, the SCO chief announced.
The Iranian Foreign Ministry decried the imposition of US sanctions on Iran’s Intelligence Ministry, saying the move reveals that Washington is behind the latest scenario of cyberattacks against Albania.
At least 25% of filling stations across the country are facing serious problems, as they do not have spare parts to repair old fuel nozzles, the head of Gasoline Station Owners Association said.
“The number of dilapidated fuel dispenser nozzles, which cannot be repaired, is increasing because of which long queues of cars are formed at pumps,” Homayoun Salehi was also quoted as saying by ILNA.
Most gas stations are operating at 70% of their capacity, he added.
Karun Petrochemical Company in Khuzestan Province has indigenized another polyurethane product, which is the 19th item localized by the company.
The KLM100-C product has been manufactured in collaboration with the knowledge-based company Manapolymer, the Oil Ministry’s news agency Shana reported.
“The annual domestic market demand for this product is about 4,000 tons and Karun Petrochemical Company has the capability to supply this amount. Currently, about $2,500 are spent on importing each ton of this product. Producing 4,000 tons of the item will save about $10 million,” KPC Managing Director Alireza Seddiqizadeh said.
To supply rural residents of the southern Hormozgan Province with piped water, the construction of three desalination plants with a capacity of 34,000 cubic meters per day is underway, the head of the provincial Water and Wastewater Company said.
“The new facilities, estimated to cost $27 million, are expected to raise the current output capacity at 230,000 cubic meters per day by at least 15%,” the Energy Ministry’s news portal also quoted Abdolhamid Hamzehpour as saying.
Giving a breakdown on the projects, the official noted that Charak desalination unit, 66 km away from the city of Bastak, can process 8,000 cubic meters of seawater per day.
Iran’s all six border crossings with Iraq have been closed to Arbaeen pilgrims, causing problems on the Iranian side of the borders.
Iranian officials have asked passengers to avoid land border crossings for at least the next 48 hours, Fars News Agency reported on Friday.
Shortcomings at the border crossings include insufficient number of buses on the Iraqi side, limited number of gates on the Iraqi side and shortage of water and food supplies for stranded passengers.
A total of €78.6 million worth of pistachio were exported from Iran to the European Union member states during the first half of 2022.
Data released by Eurostat's database show the volume of exports registered a 26% decline compared with the similar period of last year.
The export of in-shell pistachio stood at €31.6 million during the period, registering a 53% year-on-year decline, while that of shelled pistachio stood at €47 million to register a 23% YOY rise, IRNA reported.
Germany and Italy were the main destinations of Iranian pistachio among EU members.
The Purchasing Managers' Index for Iran’s economy has declined for the third consecutive month to break below the 50-mark threshold.
The latest survey of the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture — the sponsor and coordinator of PMI reports in Iran — shows the index (known by its Farsi acronym Shamekh) settled at 48.06 in the fifth month of the current Iranian year (July 23-Aug. 22), down from 50.10 registered in the previous month, indicating a 2.04-point or 4.07% decline.
PMI indicates the prevailing direction of economic trends in the manufacturing and service sectors. The headline PMI is a number from 0 to 100, such that over 50 indicates an economic expansion compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.
The country’s output of semi-finished steel stood at 8.58 million tons in the first quarter of the current fiscal year (March 21-June 21), 6% more than in the corresponding period of last year, the Iran Steel Producers Association announced.
Billet and bloom made up 5.06 million tons of total semis production, registering a 4% year-on-year growth.
Slab output stood at 3.51 million tons to register a 10% YOY rise.
The output of finished steel increased by 5% to 5.67 million tons.
Tehran stocks opened trading week Saturday under fresh selloff pressure that swept through almost all categories.
The benchmark of Tehran Stock Exchange, TEDPIX, dropped below the psychological support level of 1.4 million points seen in late March.
The main gauge of stock market shed 15,422.75 points for day and slipped 1.09% to end trade at 1,397,434. Less than 22% of the stocks gained on Saturday comprising 145 tickers while 511 ended in negative territory.
The Central Bank of Iran announced new rules on Sunday based on which banks and credit institutions are required to provide borrowers with access to lending contracts and changes thereto via electronic platforms.
Lenders have until next May to develop electronic platforms to launch e-platforms and develop existing ones.
According to a press statement seen on the CBI website, the platforms must enable borrowers’ full access to loan contract data.
Officials from the Export Guarantee Fund of Iran (EGFI) and the Russian Export Center signed a deal to facilitate trade exchange.
According to Reza Alikhani, the EGFI head, "The deal should help promote trade between the two countries, enhance use of export guarantees as an alternative to LCs and lower trade risks," the EGFI website quoted him as saying on the sidelines of the signing ceremony in Moscow on Thursday.
"Iranian businesses wanting to work with the Russians can approach the EGFI to check the creditworthiness and credit cap of their [potential] partners," he said.
According to the official, the same services are also available for Russian firms planning to export to Iran to make sure about their customers' credit rating and use trade finance facilities.
Municipalities in the big cities sold “participatory bonds” worth 100 trillion rials ($333 million) in the first four months of current fiscal year that started in March.
The sale was up 49.6% on the same period last year. Almost 80% of the bonds were sold in the fourth calendar month, the Central Bank of Iran said.
Municipal bonds are debt issued by municipalities to fund urban expansion projects. This time the debt was issued by municipalities in Tehran, Mashhad, Isfahan, Ahvaz, Tabriz, Karaj and Shiraz to fund development programs, namely urban rail systems, pathways, infrastructure and Bus Rapid Transit (BRT) networks.
The number of total vehicles (including heavy, commercial and passenger cars) produced in the five months ending Aug. 22 has increased by 10% compared with the same period of last year, the head of’s Automotive Industry Office announced.
“A total of 422,078 vehicles were produced in the first five months of the current fiscal year [March 21-Aug. 22], registering a 10% growth year-on-year,” Abdollah Tavakkoli Lahijani was also quoted as saying by Donyaye Khodro.
“Statistics concerning the production of all types of vehicles in the five months indicate that the car industry has stabilized in the country.”
Van production amounted to 806 vehicles during the period, up 806% compared with 124 vehicles in the previous year’s corresponding period.
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