Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said the enemies’ plot against Iran was comprehensive but failed because of miscalculation.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said the enemies’ plot against Iran was comprehensive but failed because of miscalculation.
Executive operations to build a Polyvinyl Chloride Suspension Resin (SPVC) unit, with a production capacity of 300,000 tons a year, are expected to start in March at the Arvand Petrochemical Company in Mahshahr, Khuzestan Province, managing director of the company said.
“The new unit, projected to become operational in 2024, will help add 300,000 tons of PVC to Iran’s current production capacity of 700,000 tons per year,” Mohammad Reza Karimi was also quoted as saying by the National Petrochemical Company's news website Nipna.
“The plant’s domestic sales of SPVC and EPVC [PVC emulsions] rose by 21% and 10% respectively during the first nine months of the current Iranian year [March 21-Dec.]. The company’s net profit margin will witness a 15% growth in 2023 compared to 2022 [$203 million],” he added.
President Ebrahim Raisi inaugurated 11 power transmission and distribution projects in the central Yazd Province on Thursday.
Costing $50 million, the projects are aimed at network construction in urban areas, electricity supply to villages, repairing networks in rural and urban regions, improving lighting of cities and villages, preventing grid voltage drop and stabilizing power supply in the hot region in the summer, the Energy Ministry’s news portal reported.
Giving a breakdown, Energy Minister Ali Akbar Mehrabian noted that six 63/20 kilovolt distribution substations in Meibod, Mehriz and Ashkezar counties went on stream at an estimated cost of $25 million to increase electricity supply capacity and reduce power wastage.
Gas consumption in the commercial and household sectors reached 700 million cubic meters per day on Jan. 12, the managing director of the National Iranian Gas Company said.
“The high consumption shows an increase of 150 mcm per day compared with the same period of last year,” Majid Chegeni was also quoted as saying by the Oil Ministry’s news service Shana.
“As the cold weather has swept across most parts of Iran, we are witnessing a drop in temperature in many regions. Less than two weeks into the winter, the temperature has reached minus 28 degrees Celsius in the northwestern and northeastern provinces, which has been unprecedented in the last 10 years,” he added.
Kazakhstan may appoint trade advisers to Iran, as well as the UAE, China, Turkey and India, said Prime Minister Alikhan Smailov on Jan. 11 as he chaired the meeting of the Trade and Integration Ministry to discuss the work ahead in 2023 and outline plans, reported the Kazakh premier’s press service.
Iranian President Ebrahim Raisi presented a substantially enlarged state budget to parliament on Wednesday, vowing to bring down inflation and boost growth to lift an economy hit by US sanctions, Reuters reported.
Iran has lifted restrictions it recently imposed on rice imports, according to the director general of the Commerce Bureau of the Agriculture Ministry.
The Iranian ambassador in Kabul said that the current situation offers the best opportunity to invest in Afghanistan’s mining sector.
A total of 199,218 tons of poultry meat were produced in Iran’s official slaughterhouses during the ninth month of the current Iranian year (Nov. 22-Dec. 21), registering a 6% increase compared with last year’s corresponding period and a 32% rise compared with the previous month.
Russia and Iran are working on a new shipping corridor that cuts Europe and its sanctions out of the picture, and are looking to partner with India, which has kept its distance from the Western-led isolation campaign against the two countries.
Iran’s foreign trade (excluding crude oil export) stood at 125.86 million tons worth $88 billion from the beginning of the current Iranian year on March 21, 2022, to Dec. 21, to register a 17% rise in value compared with the similar period of last year, the latest data of the Islamic Republic of Iran Customs Administration showed.
A total of 97.84 million tons of goods, excluding crude oil, worth $43.08 billion were exported during the period, registering a 2% and 19% year-on-year rise in weight and value respectively.
The exports mainly included natural gas with $6.78 billion, liquefied propane with $3.11 billion, methanol with $1.87 billion, butane with $1.82 billion and polyethylene with $1.36 billion.
The above-mentioned products accounted for 15.75%, 7.22%, 3.4%, 2.4% and 1.3% of exports respectively.
The domestic e-payment network, Shaparak, says most payment service providers (PSPs) showed meager change in their market share in the month to Dec 22.
Beh Pardakht Mellat topped the list with 19.51% of the total transactions, it said.
Saman Electronic Payment (SEP) was second with 19.44% by Dec 22-- slightly lower than last month, followed by Parsian E-Commerce Company (PECCO) 14.31% and Pasargad Electronic Payment 9.8%.
The secretary of Private Banks and Credit Institutions Association says collateralization is crucial for giving loans and banks are not required to lend without collateral.
"Banks need to ensure that borrowers are able [and willing] to repay on time…credit ratings simply cannot be accepted as a security for loans," Mohammad Reza Jamshidi was quoted as saying by IBENA.
Credit rating usually is a factor only for assessing applicants, Jamshidi said. "However, a bank may decide to lend without demanding collateral from applicants with reasonable credit scores."
The weekly government bond auction on Wends day held by the Central Bank of Iran again failed to impress in the absence of equity market investors and banks.
Auctions are held by CBI on behalf of the Economy Ministry to raise funds for the government’s deficit spending. Buyers of the debt normally are banks, credit institutions, investment funds and institutional investors.
The shortest maturity date for the latest was May 2023 at 22.53% for bonds maturing June 2024. The rate for short-term debt was 22.32%.
A knowledge-based company has produced a smart self-healing asphalt (also known as rubber bitumen) that is cheaper than foreign counterparts.
The smart asphalt improves the quality of roads, reduces accidents and lowers the cost of repairs, according to one of the directors of the Zarrin Bitumen Technology Company.
“Infrastructures related to transportation are one of the important foundations of progress and development of a country,” Masoud Alizadeh was also quoted as saying by the news portal of the Vice Presidency for Science and Technology.
He noted that the company has endeavored to develop the most up-to-date technologies in this field.
Turkish President Recep Tayyip Erdogan has denounced the Taliban’s order to ban university and primary education for Afghanistan's women as “unIslamic”, promising to follow the issue until it is resolved in a televised speech.
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