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Central Bank of Iran Assures Long-Term Forex Stability goo.gl/XnDDMv
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IMF Forecasts Sustained Growth for Iran’s Economy
The International Monetary Fund in its latest World Economic Outlook report has projected that Iran’s real GDP will expand by 3.5% and 3.8% in 2017 and 2018 respectively. In 2022, the IMF estimates Iran’s economic growth will stand at 4.1%, the fund’s website reported.
Iran’s economy took off after the removal of international sanctions over the country’s nuclear energy program in early 2016. According to the report, Iran experienced an unprecedented 12.5% GDP growth in 2016. Read More
Iran's H1 Mineral Output Over 160m Tons
Major Iranian mining companies produced 169.17 million tons of mineral products during the first half of the current Iranian year (started March 21), registering an 8.45% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization announced in its latest report Read More
Best and Worst in Iranian Air Flight Punctuality
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International Pressure Mounts on Trump to Stay in Iran Deal
U S President Donald Trump is facing mounting pressure from international bodies and personalities and Washington's European allies to stick with the 2015 nuclear agreement.
The deal with the six major powers curtailed Tehran's nuclear program in return for relief from international sanctions. Read More
The Iranian Offshore Oil Company. SAFF Offshore Industries Co signed an agreement in which the latter has been assigned to undertake the Kharg NGL Plant development
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Payment Services’ Fees Up for Overhaul
Shaparak Company, Iran’s national payment network operator, has reportedly notified all payment service providers in a letter that regulations concerning fees will be overhauled.
According to the letter, the issue of payment services’ fees has always been one of the biggest challenges for Iran’s payment system. Read More
USD Bull Run Presses On
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28% Rise in Iran's Kharg Island Tanker Traffic
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Central Bank of Iran Unveils #Fintech Policy
bit.ly/iran-fintech
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Tehran Municipality in Financial Stress
Tehran Municipality has released its balance sheet for the first six months of the current Iranian year that started in March, unraveling the state of its al Read More
BIM to Channel AIIB Infrastructure Finance
T he chief executive of Bank of Industry and Mine has met with a former Japanese premier to outline the activities of the bank since Iran’s nuclear accord with world powers was implemented in January 2016. Read More
“The latest findings might add much more to the history of #Shiraz,”
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USD 💵Hits Eight-Month High
The US dollar gained against the rial on Thursday to reach its highest value in Tehran’s foreign exchange market in eight months.
According to Tehran Gold and Jewelry Union’s website, the rial was quoted at 39,480 to the dollar in the open forex market on Thursday’s close, marking an increase of 110 rials compared to Wednesday. This is while USD’s official rate also went up by 60 rials to reach 34,002 rials.
Euro,💶 another high demand currency in Tehran’s market, gained 330 rials in two days. The rial was quoted at 47,150 to the euro on Thursday. The official rate of the European currency also gained 50 rials on Thursday and stood at 39,980 rials.
Iran Steel Industry Hamstrung by Graphite Electrode Shortage
S ometimes all it takes to retard a well-oiled machine is one loose cog. And for the Iranian steel industry, the increasingly limited supply of graphite electrode is the inconspicuous gear capable of impeding its growth.
“Unreasonable graphite electrode price hikes due to limited supply are one of the main challenges facing the steel industry today,” says Hossein Ahmadi, managing director of Khorasan Steel Company. Read More
3 Iranian #Banks to Open India Branch goo.gl/jPmCXK
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OPEC: Iran's September Oil Output Remains Flat at 3.82mbpd
bit.ly/Iran-oil-sep17
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Report: Reinventing Iran Housing Policies, Perceptions
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Gini Index Unchanged as Economy Grows Fast
As the Iranian economy grew remarkably in the last fiscal year (March 2016-17), the Gini coefficient remained the same compared to that of the preceding year, according to the Statistical Center of Iran.
Statistics indicate that the most significant shift in income seems to have occurred from the lower strata’s pockets to the middle class. Read More
Iran, Pakistan to Finalize Free Trade Deal by November
Pakistan and Iran have decided to strike a deal on trade despite slow or no progress regarding the implementation of a payment mechanism and the Iran-Pakistan gas pipeline project.
Both sides have decided to finalize the proposed free trade agreement before November 2017, the Pakistani newspaper Dawn reported Read More
Iranian Market Enters Battle of After-Sales Services
Interview
Producers and distributers today are not solely attempting to attract customers over product quality, but are focusing more on what makes customers stick to a certain company over the long haul: after-sales services.
Efficient after-sales services ensure products and services surpass the expectations of customers. In Iran, the Consumers and Producers Protection Organization supervises after-sales services provided by companies.
"What distinguishes companies and makes them stand out in the market is the quality of their after-sales services. If you intend to survive in this market, you must build strong trust toward your company and its services," said Amir Haji-Mohammadi, the after-sales services manager of Maadiran Group, in an interview with Financial Tribune. Read More
G erman finance worth €3 billion ($3.5 billion) for a railroad project in Iran will soon be finalized
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Iran Warns of Response to New US Sanctions
A top military commander said Iran would never be compelled by the US sanctions to relinquish its regional role and they will only strengthen its resolve to push ahead with its regional operations and defensive missile program.
IRGC Commander Major General Mohammad Ali Jafari also told a gathering of military commanders in Tehran on Sunday that the sanctions would fail to achieve their goal of dragging Iran to the table of negotiations aimed at curbing its regional clout, IRNA reported. Read More
Iran’s Oil Hits $57
ran's crude oil reached $57 a barrel in the week to Sept. 29, crossing a new price milestone in the year, as the export of crude and condensates surpassed 2.6 million barrels per day last month, government data show. Read More
Rabiei to Lead 30-Member Delegation to Georgia
H eading a 30-member delegation from Iran Chamber of Commerce, Industries, Mines and Agriculture, Iranian Minister of Cooperatives, Labor and Social Welfare Ali Rabiei is going to attend the sixth meeting of Iran-Georgia Economic Commission scheduled for Monday and Tuesday this week in Tbilisi. Read More
Wage Rise Exceeds Inflation Routinely Under Rouhani
Over the years of the first term of President Hassan Rouhani (Aug. 2013-17), the government ensured that the rise in civil servants’ salaries exceed inflation, which has been the case since 2014-15.
Wage increases outstripped inflation rate in the current fiscal year (March 2017-18) for the fourth consecutive year. The minimum wage set for the current year saw a 14.5% rise compared to last year to stand at 9.3 million rials ($238) per month.
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EU Sets Anti-Dumping Duties on Iranian Hot-Rolled Coil
The European Union has decided to set fixed duties for hot-rolled coil imported from Iran, as well as HRC from Brazil, Russia and Ukraine, after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices. Read More
Denmark's Maersk Oil is in a strong position to win a contract to produce ultra-light crude from Iran's South Pars gas field bit.ly/SP-Oil-1
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Sina Bank Set to Open Munich Branch
Since complying with international standards and building strong infrastructures are prerequisites for opening a branch in another country, Sina Bank has managed to complete the first phase of its agreement with KPMG, one of the world’s leading companies providing financial advisory services, Sina Bank’s CEO announced.
Mohammad Reza Pishro added that the agreement is aimed at implementing global banking standards for opening a branch in Munich, Germany. Read More