President Ebrahim Raisi is scheduled to head for Uzbekistan on Wednesday at the head of a delegation to participate in the summit of the Shanghai Cooperation Organization and hold talks on bilateral ties with Uzbek officials.
President Ebrahim Raisi is scheduled to head for Uzbekistan on Wednesday at the head of a delegation to participate in the summit of the Shanghai Cooperation Organization and hold talks on bilateral ties with Uzbek officials.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei declared the general policies of the 7th five-year development plan to the heads of three branches of power, chairman of the Expediency Council and the chief of the General Staff of the Armed Forces on Monday.
Tehran expects a constructive approach by the International Atomic Energy Agency and members of its Board of Governors, a senior Iranian diplomat said, as the agency’s board convened on Monday to discuss a range of topics that included Iran’s safeguards issues.
The first gas unit of Rashed combined-cycle power plant in Torbat Heidarieh County has been connected to the electricity grid, deputy for projects development at the Thermal Power Plants Holding Company said.
“To meet growing demand in the northeastern province, the construction of power plant with two 183 megawatts gas units and one 180 MW steam unit is underway by MAPNA Group,” Mohammad Ramezani was also quoted as saying by the Energy Ministry’s news service Paven.
“The power station is of special importance as it seeks to provide reliable and stable electricity, preserve the environment, generate employment and solve the problems of voltage drop in the Khorasan region,” he added.
Oil prices fell on Monday with the global fuel demand outlook overshadowed by Covid-19 restrictions in China and the potential for further interest rate hikes in the United States and Europe.
Marjan Petrochemical Company has achieved the knowhow of designing and manufacturing burners of furnaces for methanol production.
Converting 213,000 gasoline-powered public transportation and commercial vehicles into compressed natural gas hybrids has helped save 370 million liters of gasoline over the last two years, the head of the National Iranian Oil Products Distribution Company, a subsidiary of the National Iranian Oil Company, said.
“If NIOPDC wanted to import the massive amount of fuel, it would have cost $126 million,” Ali Akbar Nejad-Ali was also quoted as saying by ISNA.
The state-run firm has invested close to $100 million on the scheme so far, he added, noting that around 330 conversion centers in 25 provinces are equipped with domestically-made kits and tanks.
Lack of a comprehensive database on the status of people’s residential ownership has deprived the government of the ability to streamline the housing sector, says economist Nasser Zakeri in a recent article for the Persian daily Shargh. A translation of the text follows:
Today, housing is of vital importance in all societies; for many reasons, our country is badly affected by challenges regarding the housing economy. On the one hand, the Iranian Constitution, as a national covenant, has tasked the government with providing housing for all citizens. On the other hand, economic hardships of recent decades have turned real-estate into one of the few valuable items on the list of citizens’ assets.
In addition, rent-seeking practices have deepened wealth inequality to an incredible level, such that the number of tenants is increasing rapidly, which has compelled the government to resort to the regulation of rental market in the past few years.
The Fifth International Exhibition of Horticulture, Greenhouse, Inputs, Agricultural Machinery, Equipment, Modern Irrigation Systems and Agricultural Drones, also known as iFarm, opened at Tehran’s Shahr-e Aftab Exhibition Center on Sept. 12.
Trade between Iran and African countries stood at 890,287 tons worth $526.35 million during the first four months of the current fiscal year (March 21-July 22).
South Africa with 255,471 tons worth $152.94 million, Nigeria with 129,437 tons worth $80.63 million and Mozambique with 82,462 tons worth $57.195 million were Iran’s main trade partners during the period.
Data released by the Islamic Republic of Iran Customs Administration show Iran exported 864,027 tons of goods worth $495.51 million to the African continent during the period.
Iran’s main export destinations in Africa were South Africa with 255,101 tons worth $149.57 million, Nigeria with 129,437 tons worth $80.63 million and Mozambique with 82,462 tons worth $57.2 million.
Iran is scheduled to hold an exhibition of agriculture and food industry in the UAE from Nov. 7-10, the Trade Promotion Organization of Iran announced on Monday.
Concurrent with the exhibition, a forum on investment, production and export opportunities for Iran’s food industries and agricultural products will also be held, Mehr News Agency reported.
Iran currently accounts for close to 3% of the UAE’s food and beverages market, which is as big as $16 billion per year.
TPO organizes the two events to introduce Iran’s capacities in the field and help increase its share in the neighboring country’s market.
Latest data released by the Iran Chamber of Cooperatives on Purchasing Managers’ Index for the construction sector shows the index has bounced back above the threshold (50-mark).
The index settled at 51.11 in the fifth month of the current fiscal year (July 23-Aug. 22) up from 46.7 in the preceding month (June 22-July 22), indicating a 9.44% increase.
PMI is an indicator of the health of economic sectors and provides information about business conditions to decision-makers, analysts and purchasing managers.
The First Digital Mining Conference and Expo opened at Tehran’s Olympic Hotel on Monday.
The Cabinet has approved proposals by the Securities and Exchange Organization (SEO) for reforming the governing structure of the two major exchange-traded funds of the government.
Majid Eshqi, the SEO chief, made the announcement Monday in a talk with state TV, expressing the hope that the changes would help lead to better functioning of the two major funds.
The government-affiliated ETFs were listed in capital market in mid-2020 and hold stocks in giant state-owned refineries and banks.
The main gauge of Tehran Stock Exchange, TEDPIX, lost 1,762.06 points or 0.13% on Monday to end at 1,388,970.
A total of 6.28 billion shares worth 51.23 trillion rials ($176.6 million) changed hands at TSE for the day.
North Drilling Company was the main gainer as its shares climbed 6.36% to 3,811 rials per share.
Malicious mobile applications are the main threat to the security of financial services in the country, says the CEO of KASHEF, the company in charge of the safety and security of banking services.
"Mobile applications downloaded from unauthorized websites account for the major part of financial cybercrime, as reported by the police and judiciary…These applications unlawfully get information about user identity and their bank accounts, including the one-time-password," Ali Akbar Kazeminia told IBENA.
KASHEF is focused on raising public awareness about cybercrime means and practices by creating videos to be shown via the media. It is planning to develop a digital signature for financial applications in collaboration with major app development companies to help users make sure about the authenticity of the application they download, the Kazeminia said.
The Central Bank of Iran on Monday set procedures for banks and the tax authority to differentiate the bank accounts of businesses and personal accounts.
The regulator recently instructed banks to separate the accounts that business owners use for their business needs from regular accounts.
Elaborating on the rules, Mostafa Qamari-Vafa, head of the CBI public relations department, said there are various methods for categorizing bank accounts. However, lenders must make certain two conditions before tagging a customer account as business account.
An automotive expert believes exports will help improve the quality of parts and boost their manufacturing industry.
Recently, the Institute of Standards and Industrial Research of Iran obliged automakers to procure parts only from manufacturers with export licenses, as exports create a competitive environment and help improve the quality of parts.
“Some parts manufacturers can produce parts that are suitable for export, and for some, the mechanisms have not yet been provided, one of the reasons for which is the weakness in global interaction and the challenges of currency transfer,” Saeed Madani, a former CEO of SAIPA Automotive Group, was quoted as saying by Khabar Khodro.
Currently, domestic auto parts are produced for older models and the output of new cars has not yet reached a level that would make parts production cost-effective.
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