Friday , 29 March 2024

Economy

Prices For Imports Increased By 150 Percent In Iran

Radiofarda – Iran’s Statistical Center says from mid-2018 to mid-2019 prices of imported goods in Iran increased by 150 percent. Iran’s currency rial began losing value at the beginning of 2018, as the United States signaled its intention to withdraw from the 2015 nuclear agreement. The devaluation picked up steam in March 2018 and by September of that year reached …

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Iran’s Oil Exports Decline To Below 200,000 Barrels p/d In August

Radiofarda – Figures received by Radio Farda from Kpler, a data intelligence firm show Iran’s oil exports in August declined to 160,000 barrels per day, versus 365,000 in July. Last year in August Iran exported around two million bpd; before the United States imposed oil sanctions in November. Kpler’s figures indicate Iran exported 22 thousand bpd to Turkey, 33 thousand …

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Middle And Low Income Iranians Can’t Even Afford Tuna, Says Industry Insider

Radiofarda – A member of Iran’s canned foods association says low and middle income people cannot afford canned tuna any longer, due to price inflation. Saleh Adibzadeh told Iran’s semi-official ILNA news website on Monday, “Canned tuna was a regular part of the food basket for middle and low income strata and for university students”, but they cannot afford one …

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Iran foreign debt down by 7 percent in 2 months: Central Bank

PayvandNews – The Central Bank of Iran (CBI) says the debt the country owes to foreign creditors have decreased by seven percent in two months. The CBI said on Sunday that aggregate foreign debts stood at $8.816 billion on May 21, 2019, down from $9.339 billion at the end of last Iranian calendar year on March 20. It said long-term …

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Sanctions choke Iran’s crude sales, but oil product exports booming

Reuters – While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show.FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian …

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Iran’s Currency Keeps Rising Amid Diplomatic Efforts To Reduce Tensions

radiofarda – In the wake of a series of diplomatic efforts aimed at reducing tensions between Iran and the United States, the value of the Iranian currency rial rose 1.8 percent against the dollar on Tuesday. Various currency websites at midday Tuesday local time in Iran reported the rial trading at just below 110,000 to the dollar. In July the …

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Central Bank Governor Claims 40% Recovery In Value Of Iran’s Currency

radiofarda – The Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati says the value of the Iranian currency rial has been strengthened by 40 percent during recent months. Hemmati’s claim comes on the backdrop of a sharp devaluation of Iran’s rial last year and its partial recovery in recent months. He was probably referring to last year when …

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Two Iranian Lawmakers In Arrested In Connection With Auto Industry Corruption

payvand – Security forces in Iran have arrested two members of the Iranian Parliament (Majles) on charges of “disrupting the car market,” a member of parliament’s ethics committee told Fars news agency on Thursday, August 22. The lawmaker told Fars that the Fereydoun Ahmadi and Mohammad Azizi who were arrested on Wednesday were linked to a financial corruption case at …

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Sugar Factory Director Arrested In Iran On Charges Of ‘Corruption’

radiofarda – Prosecutors in Iran have detained a sugar factory general manager on charges of corruption, in the latest episode of what officials say is an anti-corruption drive. Siamak Soltani who leads Isfahan’s Nakshe Qand (Ghand) publicly traded company was arrested August 22 for “disrupting the economic system”, Mehr news agency in Iran quoted the local prosecutor telling the media. …

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Iran’s Rouhani And Zarif Issue Threats Against Shipping, US

radiofarda – If Iran’s oil exports are cut to zero, international waterways will not have the same security as before, its president said on Wednesday, cautioning Washington against upping pressure on Tehran in an angry confrontation between the longtime foes. The comment by President Hassan Rouhani coincided with a remark by Iranian Foreign Minister Mohammad Javad Zarif that Tehran might …

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