Major TSE-Listed Mining Firms' Sales Rise 55% to $1.9 Billion
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has released a new report on the sales of 72 heavyweight Tehran Stock Exchange-listed mining and mineral companies.
According to the report, the aggregate sales volume of the firms under review stood at 388.43 trillion rials ($1.94 billion) during the first two months of the current fiscal year (March 20-May 20) to register a 55% rise compared with last year's corresponding period.
Their sales volume during the second month of the year (April 20-May 20) stood at 181.94 trillion rials ($909.7 million) to witness a 79% rise compared with a month before.
The mining and mineral firms constituted a 37% share of the total sales volume of all TSE-listed firms during the two-month period.
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The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has released a new report on the sales of 72 heavyweight Tehran Stock Exchange-listed mining and mineral companies.
According to the report, the aggregate sales volume of the firms under review stood at 388.43 trillion rials ($1.94 billion) during the first two months of the current fiscal year (March 20-May 20) to register a 55% rise compared with last year's corresponding period.
Their sales volume during the second month of the year (April 20-May 20) stood at 181.94 trillion rials ($909.7 million) to witness a 79% rise compared with a month before.
The mining and mineral firms constituted a 37% share of the total sales volume of all TSE-listed firms during the two-month period.
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Ban on Export of Four Covid-19-Related Medical Products Lifted
The Ministry of Industries, Mining and Trade has lifted a ban on the export of serology kits, surgical-medical gowns, face shields and N95 facemasks.
Director General of the Islamic Republic of Iran Customs Administration's Export Affairs Division Ali Akbar Shamani has communicated the new directive to customs offices across the country.
Exports of protective medical items, including gloves, gowns and facemasks, as well as other materials, such as alcohol, scrubs, disinfectants, soaps and tissues, were banned as of early March when the country was struggling to meet the surging demand of domestic market driven by the spread of novel coronavirus.
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The Ministry of Industries, Mining and Trade has lifted a ban on the export of serology kits, surgical-medical gowns, face shields and N95 facemasks.
Director General of the Islamic Republic of Iran Customs Administration's Export Affairs Division Ali Akbar Shamani has communicated the new directive to customs offices across the country.
Exports of protective medical items, including gloves, gowns and facemasks, as well as other materials, such as alcohol, scrubs, disinfectants, soaps and tissues, were banned as of early March when the country was struggling to meet the surging demand of domestic market driven by the spread of novel coronavirus.
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CBI: Broad Money Supply Will Tame Fiscal Deficit
Governor of the Central Bank of Iran Abdolnasser Hemmati said Friday the government will use part of the existing money supply to plug the fiscal deficit.
Hemmati said this in his social media account in response to rising concerns over the likely negative impact of expanding money supply on consumer price inflation.
Acknowledging that growth in money supply has always been a “structural phenomenon” in Iran’s economy, he added, dismissing predictions by experts about rising inflation due to the ever-growing money supply.
“Existing broad money and even its future growth cannot lead to high inflation… because a portion of the money will be used for taming the budget deficit,” he wrote.
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Governor of the Central Bank of Iran Abdolnasser Hemmati said Friday the government will use part of the existing money supply to plug the fiscal deficit.
Hemmati said this in his social media account in response to rising concerns over the likely negative impact of expanding money supply on consumer price inflation.
Acknowledging that growth in money supply has always been a “structural phenomenon” in Iran’s economy, he added, dismissing predictions by experts about rising inflation due to the ever-growing money supply.
“Existing broad money and even its future growth cannot lead to high inflation… because a portion of the money will be used for taming the budget deficit,” he wrote.
bit.ly/3ipCB8x
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Iran's Trade With Eurasian Economic Union Hits $2.4b
Iran and the Eurasian Economic Union traded 6.86 million tons of commodities worth $2.4 billion from Oct. 27, 2019, when a preferential trade agreement between the two sides came into effect, to June 20, 2020, according to the spokesman of the Islamic Republic of Iran Customs Administration.
“The figure pertains to seven months and 26 days. Though the region was struggling with the Covid-19 pandemic for more than half this period, trade kept flowing. Iran and EEU accounted for 28% and 72% of the total trade volume respectively over the period,” Rouhollah Latifi was also quoted as saying by Mehr News Agency.
Iran’s total exports to the bloc, said the official, stood at 1.65 million tons valued at $681 million, he added.
“Imports from the five EEU member states hit 5.2 million tons worth $1.73 billion, $1.17 billion of which (67.3%) were carried out under the trade agreement,” he said.
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Iran and the Eurasian Economic Union traded 6.86 million tons of commodities worth $2.4 billion from Oct. 27, 2019, when a preferential trade agreement between the two sides came into effect, to June 20, 2020, according to the spokesman of the Islamic Republic of Iran Customs Administration.
“The figure pertains to seven months and 26 days. Though the region was struggling with the Covid-19 pandemic for more than half this period, trade kept flowing. Iran and EEU accounted for 28% and 72% of the total trade volume respectively over the period,” Rouhollah Latifi was also quoted as saying by Mehr News Agency.
Iran’s total exports to the bloc, said the official, stood at 1.65 million tons valued at $681 million, he added.
“Imports from the five EEU member states hit 5.2 million tons worth $1.73 billion, $1.17 billion of which (67.3%) were carried out under the trade agreement,” he said.
bit.ly/3gsxjqX
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Gas Export to Turkey Resumes After 94 Days
Iran has resumed gas exports to Turkey after Botas, the country's state oil and gas company, said it fixed the ruptured gas pipeline after 94 day, the head of National Iranian Gas Company's Dispatching Department said.
“Repairs are over and gas flow has restarted at a rate of 20 million cubic meters per day. It will reach 30 mcm/d as soon as the pressure is adjusted,” Mohammadreza Joulaee was quoted as saying by ILNA.
The flow of Iranian natural gas to Turkey was disrupted three months ago due to a pipeline explosion. It was the tenth such incident since 2001, he added.
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Iran has resumed gas exports to Turkey after Botas, the country's state oil and gas company, said it fixed the ruptured gas pipeline after 94 day, the head of National Iranian Gas Company's Dispatching Department said.
“Repairs are over and gas flow has restarted at a rate of 20 million cubic meters per day. It will reach 30 mcm/d as soon as the pressure is adjusted,” Mohammadreza Joulaee was quoted as saying by ILNA.
The flow of Iranian natural gas to Turkey was disrupted three months ago due to a pipeline explosion. It was the tenth such incident since 2001, he added.
bit.ly/3ixKf0A
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New Scheme to Make Home Buying Affordable
Stock market authorities are planning to launch a real estate exchange market to help address mounting challenges of the housing sector, a member of the High Council of Securities and Exchange said.
According to Hossein Selahvarzi, who also is vice president of Iran Chamber of Commerce, Industries, Mines and Agriculture, the real estate market will be the fifth bourse in Iran’s capital market.
Selahvarzi said launching a real estate bourse will help improve transparency in the key housing sector, the ICCIMA news portal reported.
“It will be an opportunity to make the housing market competitive and improve transparency. This will also help in setting a benchmark,” he said, speaking on the sidelines of a meeting with senior stock market officials on Saturday. The session discussed the feasibility of the plan.
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Stock market authorities are planning to launch a real estate exchange market to help address mounting challenges of the housing sector, a member of the High Council of Securities and Exchange said.
According to Hossein Selahvarzi, who also is vice president of Iran Chamber of Commerce, Industries, Mines and Agriculture, the real estate market will be the fifth bourse in Iran’s capital market.
Selahvarzi said launching a real estate bourse will help improve transparency in the key housing sector, the ICCIMA news portal reported.
“It will be an opportunity to make the housing market competitive and improve transparency. This will also help in setting a benchmark,” he said, speaking on the sidelines of a meeting with senior stock market officials on Saturday. The session discussed the feasibility of the plan.
bit.ly/2VLu8mF
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Iran's Trade With Turkey Down 77%
Iran’s trade with Turkey totaled $803.59 million during the first five months of 2020 (January-May) to register a decrease of 77.62% compared with the corresponding months of 2019, data released by Turkish Statistical Institute show.
Iran exported $331.67 million worth of goods to Turkey during the five months under review, to see an 87.1% year-on-year drop.
Imports stood at $471.9 million, down 53.85% YOY.
Bilateral trade amounted to $86.21 million in May to register an 88.15% decline compared to May 2019. Exports to Turkey accounted for $42.34 million of the figure, down 91.5% YOY, while Turkey’s exports to Iran stood at $8089 million, down by 74.19% YOY.
Iran was Turkey’s 36th biggest trading partner during the period under review.
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Iran’s trade with Turkey totaled $803.59 million during the first five months of 2020 (January-May) to register a decrease of 77.62% compared with the corresponding months of 2019, data released by Turkish Statistical Institute show.
Iran exported $331.67 million worth of goods to Turkey during the five months under review, to see an 87.1% year-on-year drop.
Imports stood at $471.9 million, down 53.85% YOY.
Bilateral trade amounted to $86.21 million in May to register an 88.15% decline compared to May 2019. Exports to Turkey accounted for $42.34 million of the figure, down 91.5% YOY, while Turkey’s exports to Iran stood at $8089 million, down by 74.19% YOY.
Iran was Turkey’s 36th biggest trading partner during the period under review.
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Shares Fall to Make Comeback in Tehran Market
Tehran stocks opened Sunday in negative territory with the benchmark of Tehran Stock Exchange losing about 2,000 points only to rebound later as a fresh rally in the currency market boosted sentiment.
The TSE’s market-cap weighted benchmark, TEDPIX, gained more than 34,000 points to climb 2.1%, closing the session at 1,655,406 points, market data released on Tehran Securities Exchange Technology Management Company website showed.
Led by large-cap shares, a broad range of micro-cap stocks gained for the day pushing up the equal-weighted index by 1.16%.
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Tehran stocks opened Sunday in negative territory with the benchmark of Tehran Stock Exchange losing about 2,000 points only to rebound later as a fresh rally in the currency market boosted sentiment.
The TSE’s market-cap weighted benchmark, TEDPIX, gained more than 34,000 points to climb 2.1%, closing the session at 1,655,406 points, market data released on Tehran Securities Exchange Technology Management Company website showed.
Led by large-cap shares, a broad range of micro-cap stocks gained for the day pushing up the equal-weighted index by 1.16%.
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Forex Rates Rise Unabated in Tehran Market
Currency rates are rising unabated in Tehran with exchange bureaus affiliated to, and working for, the Central Bank of Iran again the increased the dollar rate by 3.65% on Sunday after the 10% rise a day earlier.
These moneychangers for the second session in a row officially raised the dollar price by 7,610 rials on Sunday to 216,460 rials.
The latest CBI-engineered surge is with the declared aim of “reducing the price difference with unofficial rates quoted by currency dealers in the open market.”
It was reported that the regulator was “forced to increase the dollar rate” by 20,000 rials on Saturday to eliminate the “price arbitrage” that went up as high as 17,000 rials.
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Currency rates are rising unabated in Tehran with exchange bureaus affiliated to, and working for, the Central Bank of Iran again the increased the dollar rate by 3.65% on Sunday after the 10% rise a day earlier.
These moneychangers for the second session in a row officially raised the dollar price by 7,610 rials on Sunday to 216,460 rials.
The latest CBI-engineered surge is with the declared aim of “reducing the price difference with unofficial rates quoted by currency dealers in the open market.”
It was reported that the regulator was “forced to increase the dollar rate” by 20,000 rials on Saturday to eliminate the “price arbitrage” that went up as high as 17,000 rials.
bit.ly/2C5zJNt
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Iran's Import of Consumer Goods Rises But Capital Goods Fall
Iran’s imports of consumer and intermediate goods jumped in the last fiscal year (March 2019-20) while the other major import category, i.e. capital goods, declined dramatically compared with the previous year.
The country imported 2.8 million tons of consumer goods worth $7.6 billion in the fiscal 2019-20 to register a 2.33% rise in weight and a 10.54% increase in value year-on-year.
Consumer goods are purchased for consumption. Alternately called final goods, consumer goods are the end result of production and manufacturing, and are what a consumer will see on the store shelf. Clothing, food and jewelry are all examples of consumer goods.
Imports of intermediate goods surged by 19.63% in weight and 9.78% in value last year to stand at 31.65 million tons worth $29.44 billion...
https://bit.ly/2D39szN
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Iran’s imports of consumer and intermediate goods jumped in the last fiscal year (March 2019-20) while the other major import category, i.e. capital goods, declined dramatically compared with the previous year.
The country imported 2.8 million tons of consumer goods worth $7.6 billion in the fiscal 2019-20 to register a 2.33% rise in weight and a 10.54% increase in value year-on-year.
Consumer goods are purchased for consumption. Alternately called final goods, consumer goods are the end result of production and manufacturing, and are what a consumer will see on the store shelf. Clothing, food and jewelry are all examples of consumer goods.
Imports of intermediate goods surged by 19.63% in weight and 9.78% in value last year to stand at 31.65 million tons worth $29.44 billion...
https://bit.ly/2D39szN
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Track-Laying of Chabahar-Zahedan Railroad to Commence This Week
The track-laying operation for the railroad connecting the southeastern port city of Chabahar to the eastern city of Zahedan near the border with Afghanistan and Pakistan will be launched on July 7, in a ceremony attended by Minister of Roads and Urban Development Mohammad Eslami.
Chabahar-Zahedan railroad will include 34 stations and link the cities of Chabahar, Tis, Konarak, Nikshahr, Iranshahr, Khash and Zahedan along the way.
With the new railroad track in place, 927,000 passengers and 2.8 million tons of cargo will be transported annually by the year ending March 2023.
The average speed of freight trains on this route will be 120 km per hour whereas passenger trains will run at 160 km per hour.
It will create jobs for 13,000, of whom 3,000 will be directly engaged in the project.
https://bit.ly/3dWI9nv
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The track-laying operation for the railroad connecting the southeastern port city of Chabahar to the eastern city of Zahedan near the border with Afghanistan and Pakistan will be launched on July 7, in a ceremony attended by Minister of Roads and Urban Development Mohammad Eslami.
Chabahar-Zahedan railroad will include 34 stations and link the cities of Chabahar, Tis, Konarak, Nikshahr, Iranshahr, Khash and Zahedan along the way.
With the new railroad track in place, 927,000 passengers and 2.8 million tons of cargo will be transported annually by the year ending March 2023.
The average speed of freight trains on this route will be 120 km per hour whereas passenger trains will run at 160 km per hour.
It will create jobs for 13,000, of whom 3,000 will be directly engaged in the project.
https://bit.ly/3dWI9nv
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Shares Set Fresh Records in Tehran Market
Steep rise in the price of shares of Social Security Investment Company, known locally as Shasta, pushed up the benchmark of Tehran Stock Exchange, TEDPIX, to new levels, threatening a temporary closure of the market.
TSE rallied to a historic level on Monday, making an unprecedented 4.9% gain by adding more than 80,972 points. This put the TEDPIX at 1,736,402 points.
This unseen rally was owed mainly to Shasta, the largest Iranian holding and the fourth in TSE in terms of market capitalization.
Following a notice of “disclosure of important information” by Shasta, its shares jumped 37% on Monday, alone adding more than 22,000 points to the TSE benchmark and pushing it above 5% for the day -- a threshold level if reached would force the stock market regulator to close the market for up to three sessions.
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Steep rise in the price of shares of Social Security Investment Company, known locally as Shasta, pushed up the benchmark of Tehran Stock Exchange, TEDPIX, to new levels, threatening a temporary closure of the market.
TSE rallied to a historic level on Monday, making an unprecedented 4.9% gain by adding more than 80,972 points. This put the TEDPIX at 1,736,402 points.
This unseen rally was owed mainly to Shasta, the largest Iranian holding and the fourth in TSE in terms of market capitalization.
Following a notice of “disclosure of important information” by Shasta, its shares jumped 37% on Monday, alone adding more than 22,000 points to the TSE benchmark and pushing it above 5% for the day -- a threshold level if reached would force the stock market regulator to close the market for up to three sessions.
bit.ly/2Dg3AU4
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Gold, Forex Slide in Tehran Market
After a concerning pattern of hikes in the price of gold and foreign currency in Tehran, both assets registered decline in Monday trade.
The US dollar was close to 214,300 rials in the open market after touching 221,000 rials on Monday morning.
Moneychangers affiliated to the Central Bank of Iran, sold the greenback at 218,430 rials, up 0.9% compared to Sunday’s close.
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After a concerning pattern of hikes in the price of gold and foreign currency in Tehran, both assets registered decline in Monday trade.
The US dollar was close to 214,300 rials in the open market after touching 221,000 rials on Monday morning.
Moneychangers affiliated to the Central Bank of Iran, sold the greenback at 218,430 rials, up 0.9% compared to Sunday’s close.
bit.ly/2C5uehP
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Iranian Ports in Q1 Handle 28 Million Tons of Goods
Iran’s 21 major commercial ports loaded and unloaded a total of 28.65 million tons of commodities during the first three months of the current Iranian year (March 20-June 20) to register a 27.86% decline compared with the similar period of last year.
The decline comes amid tough economic sanctions reimposed on the Islamic Republic by the United States, the effects of which have been further complicated by the worldwide outbreak of the novel coronavirus and the subsequent decline in global trade.
According to figures published in the Ports and Maritime Organization of Iran's website, non-oil goods accounted for 18.99 million tons of the total throughput (66%), showing a 33.72% fall year-on-year.
The remaining 9.66 million tons pertained to oil products, indicating a 12.71% decline YOY.
Container loading and unloading decreased by 30% to stand at more than 342,915 TEUs.
bit.ly/38vNhhq
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Iran’s 21 major commercial ports loaded and unloaded a total of 28.65 million tons of commodities during the first three months of the current Iranian year (March 20-June 20) to register a 27.86% decline compared with the similar period of last year.
The decline comes amid tough economic sanctions reimposed on the Islamic Republic by the United States, the effects of which have been further complicated by the worldwide outbreak of the novel coronavirus and the subsequent decline in global trade.
According to figures published in the Ports and Maritime Organization of Iran's website, non-oil goods accounted for 18.99 million tons of the total throughput (66%), showing a 33.72% fall year-on-year.
The remaining 9.66 million tons pertained to oil products, indicating a 12.71% decline YOY.
Container loading and unloading decreased by 30% to stand at more than 342,915 TEUs.
bit.ly/38vNhhq
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Gov’t Raises $2 32m in Bond Sale
The government raised 49.9 trillion rials ($232 million) by selling Islamic bonds in the debt market on Tuesday.
Out of this figure, 19.9 trillion rials ($92 million) was sold to lenders and non-bank financial institution in the weekly bond auction held by the Central Bank of Iran.
The remaining 30.1 trillion ($140 million) was sold to institutional and retail investors in the share market and outside the auction, the CBI said in a notice on its website.
financialtribune.com/node/104219
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The government raised 49.9 trillion rials ($232 million) by selling Islamic bonds in the debt market on Tuesday.
Out of this figure, 19.9 trillion rials ($92 million) was sold to lenders and non-bank financial institution in the weekly bond auction held by the Central Bank of Iran.
The remaining 30.1 trillion ($140 million) was sold to institutional and retail investors in the share market and outside the auction, the CBI said in a notice on its website.
financialtribune.com/node/104219
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Iran Housing PMI Growth Prolongs for Second Consecutive Month
The Purchasing Managers' Index of the hosing sector for the third month of the current fiscal year (May 21-June 20) settled at 64.36 from 60.55 in the preceding month (April 20-May 20), showing continued recovery in this sector.
Iran Chamber of Cooperatives has measured the purchasing managers’ index for the country’s real-estate and construction sectors, under the Farsi acronym “Shamekh”, in the third month of the current Iranian year (ending June 20).
The new report shows overall PMI settled at 64.36 from 60.55 in the second Iranian month, indicating a 6.29% growth month-on-month, the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture announced.
financialtribune.com/node/104210
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The Purchasing Managers' Index of the hosing sector for the third month of the current fiscal year (May 21-June 20) settled at 64.36 from 60.55 in the preceding month (April 20-May 20), showing continued recovery in this sector.
Iran Chamber of Cooperatives has measured the purchasing managers’ index for the country’s real-estate and construction sectors, under the Farsi acronym “Shamekh”, in the third month of the current Iranian year (ending June 20).
The new report shows overall PMI settled at 64.36 from 60.55 in the second Iranian month, indicating a 6.29% growth month-on-month, the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture announced.
financialtribune.com/node/104210
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Real Value Household Expenses Deteriorate by 5.4 Percent
The overall inflation-adjusted expenditure of Iranian households in the last fiscal year (March 2019-20) decreased by 5.4% compared with the year before.
However, when current prices are applied, average household expenditure indicates a surge of 24.5%, the Statistical Center of Iran reported.
When constant prices are used, Iranian households spent less on nine out of 11 groups of the basket of consumer goods and services in the last fiscal year compared with the year before. The sharpest of such declines was registered for the transportation group with 31.1%.
financialtribune.com/node/104206
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The overall inflation-adjusted expenditure of Iranian households in the last fiscal year (March 2019-20) decreased by 5.4% compared with the year before.
However, when current prices are applied, average household expenditure indicates a surge of 24.5%, the Statistical Center of Iran reported.
When constant prices are used, Iranian households spent less on nine out of 11 groups of the basket of consumer goods and services in the last fiscal year compared with the year before. The sharpest of such declines was registered for the transportation group with 31.1%.
financialtribune.com/node/104206
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