President Ebrahim Raisi is set to leave Tehran for Beijing on Monday evening at the official invitation of his Chinese counterpart Xi Jinping for a three-day visit with the aim of bolstering ties.
President Ebrahim Raisi is set to leave Tehran for Beijing on Monday evening at the official invitation of his Chinese counterpart Xi Jinping for a three-day visit with the aim of bolstering ties.
Iran’s main purpose in talks on the revival of the 2015 nuclear deal is the removal of sanctions in a way that it can enjoy economic benefits permanently, the Iranian top negotiator said.
Urmia Lake holds 1 billion cubic meters of water, which is 32 bcm lower compared to 1996 when it stored 33 bcm, an environment and water expert said.
“The lake is in its most deplorable condition and the impending disintegration of the lake’s unique ecosystem requires immediate attention to prevent its catastrophic socio-ecological repercussions,” Mohammad Darvish was also quoted as saying by the Energy Today's website.
Despite the rise in precipitation rate in most catchment areas, Urmia Lake Basin’s snow cover has decreased by 50%, falling from 85,000 square km to less than 43,000 square km, he added, noting that it is very likely that the lake will become completely dry in summer.
The first gas-powered unit of Mobarakeh Steel Company’s combined-cycle power plant will be connected to the national grid in March, the head of power projects in the largest steel company of Iran and the wider Middle East and North Africa region said.
“This is the second power station constructed with the investment of industries that will add close to 900 megawatts to the national power grid when it is fully operational,” Hamidreza Khosravanipour was also quoted as saying by Donyayemadan.com.
“As per a deal worth $430 million signed between Iran's biggest steelmaker in Isfahan Province and the engineering MAPNA Group in 2021, the latter was tasked with building the facility in three phases. The first gas unit of the plant with a capacity of 300 MW will go on stream in March,” he said.
“The facility will comprise two gas units and a steam unit with a generation capacity of 300 MW, and it is expected to be fully synchronized with the power grid in 2024.”
The executive operation of the carbon dioxide recycling project at Fanavaran Petrochemical Company in Khuzestan Province has started last weekend.
Iran’s largest environmental project in the field of CO2 capture will have an annual CO2 recycling capacity of 160,000 tons, the Naftiha website reported.
Referring to the company’s prioritization of environmental issues, the managing director said the project has environmental benefits as it will recycle the CO2 emitted from the stack of methanol unit at the Fanavaran Petrochemical Company as well as the CO2 produced in the region.
“The project has the potential of capturing a considerable amount of this pollutant, the release of which has a significant impact on environmental pollution,” Mohammad Javad Badri added.
A total of 5.74 million tons of semi-finished steel products were exported from Iran during the first 10 months of the current fiscal year (March 21, 2022-Jan. 20) to register a 1% year-on-year decrease, latest data released by the Iranian Steel Producers Association show.
Billet and bloom had the lion’s share of semis exports with an aggregate of 4.36 million tons, up 11% compared with the previous year’s corresponding period.
Slab exports stood at 1.38 million tons during the period, down 27%.
Exports of finished steel products decreased by 2% to 2.68 million tons during the same period.
“Health and Medical Treatment”, one of 12 groups of goods and services surveyed by the Statistical Center of Iran for calculating the inflation rate, registered an average annualized inflation rate of 39.4% in the 10th month of the current Iranian year (Dec. 22, 2022-Jan. 20).
The month-on-month and year-on-year inflation rates of the group reached 3.9% and 53.8% respectively.
The 12 groups of the basket of consumer goods and services surveyed by the SCI include "food and beverages" with a coefficient of 26.64%, "tobacco" with 0.59%, "clothing and shoes" with 4.78%, “housing and utilities" with 35.5% (highest), "furniture, home appliances and their maintenance" with 3.93%, "health and treatment" with 7.14%, "transportation" with 9.41%, "communications" with 2.87%, "leisure and culture" with 1.65%, "education" with 1.86%, "hotels and restaurants" with 1.44% and "miscellaneous items and services" with 4.18%.
The Education and Human Resources Institute, affiliated with Tehran Chamber of Commerce, Industries, Mines and Agriculture, is scheduled to hold three business courses and a workshop in February and March.
The first course titled “Import and Export Ideas” will be held online from Feb. 15 on Sundays and Wednesdays from 6 to 8 p.m.
Topics include choosing the idea and the country based on interest, experience and assets, finding the latest ideas in the world, choosing the final idea and how to calculate the costs and viability of the idea and checking how to enter the market, conducting marketing review and checking important rules to start exporting. The course will run for a total of 8 hours.
Trade between Iran and the Eurasian Economic Union’s member states reached 5.1 million tons worth $2.57 billion during the current Iranian year’s first 10 months (March 21, 2022-Jan. 20), registering a 44.32% decline in terms of value compared with the corresponding period of last year, latest data released by the Islamic Republic of Iran Customs Administration show.
Russia was Iran’s main trade partner among the countries under review with more than 3.11 million tons worth $1.79 billion. It was followed by Armenia with 1.23 million tons worth $402.08 million and Kazakhstan with 664,991 tons worth $265.9 million.
Iran’s exports to EEU members stood at 2.84 million tons worth $1.21 billion during the period, registering a 23.61% year-on-year increase in value.
A total of 148,206 tons of foreign goods worth $130.75 million transited through Khosravi Border Terminal during the first 10 months of the current Iranian year (March 21, 2022-Jan. 20) to register a staggering rise of 2,403% in terms of weight and 447% in value, compared with the corresponding period of last year, according to Mehdi Abbasian, a local customs official.
Tehran Stock Exchange's main index, TEDPIX, lost 12,103.18 points or 0.78% on Sunday to end at 1,545,978.32. The TSE equal-weighted index lost 0.97%.
About 7.42 billion shares worth 49.53 trillion rials ($170.82 million) changed hands for the day. Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Manganese Mines Company led the winner’s list as its shares jumped 5.23% to 11,870 rials per share.
The Central Bank of Iran said Sunday foreign debt was near $6.42 billion by the end of the eighth calendar month to Nov 22 -- $2.64 billion lower on fiscal March 2021-22.
Medium and long-term debt was $4.67 billion or 75% of the total and short-term debt in the range of $1.74 billion. Short-term debt includes all debt with original maturity of one year or less plus the interest on long-term debt.
The country was unable to attract foreign investment because of the extended US economic blockade, cumbersome laws and economic instability, among others.
Tehran Stock Exchange on Sunday unveiled the first sector fund for the petrochemical industry to attract indirect investment to the key sector.
Mahmoud Goudarzi, the TSE chief, said, "Sector funds are being developed to diversify investment instruments and help meet the needs of investors," the TSE website quoted him as saying.
The ‘Agah Petrochemical Sector Investment Fund was created by the Tehran Stock Exchange in cooperation with Agah Portfolio Manager Group, and is approved by the Security and Exchange Organization, Goudarzi said.
The monetary base shot up again in the eighth calendar month to November 22, though at lower pace the Central Bank of Iran reported.
It was near 7,276 trillion rials ($16.92 billion) -- up 20.5% in eight months since the beginning of fiscal year in March, but rose 34.6% in 12 months, which was down 1.2 percentage points from annualized growth of 35.8% in the same period last year.
The CBI released data on broad money, tagging it at 58,068 trillion rials ($135b) during the period -- up 20.2% in eight months.
On an annualized basis, broad money jumped 34.5% during the eight months to November 22, which was lower on the annual growth percentage in the first eight months last year at 42%.
A domestic engineering company has produced a machine that can make electronic components waterproof.
The Industrial Plasma Treatment Machine, produced by Basafan Engineering Company, lends waterproof properties to electronic devices and components used in different industries.
Creating hydrophobic surfaces, improving adhesion and lending anti-stain properties are among the features of the domestic machine, the news portal of Iran Nanotechnology Innovation Council reported.
Electronic devices and components are sensitive to moisture, so waterproofing them is crucial when a device is used in an environment with high humidity.
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