Unemployment at 9.8 Percent in Q1
Iran’s unemployment rate, the proportion of jobless population of ages 15 and above, stood at 9.8% in the first quarter of the current Iranian year (March 20-June 20), indicating a 1.1% decline compared with the same period of last year.
A total of 2,505,336 Iranians were unemployed in Q1. Over 1.9 million men and 602,074 women of ages 15 and above were jobless in Q1, according to the latest report by the Statistical Center of Iran.
Men’s unemployment stood at 9% while the rate for women hovered around 13.7%.
The unemployment rate was 10.7% for urban areas (2.03 million people) and 7.3% for rural areas (472,634 people)...
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Iran’s unemployment rate, the proportion of jobless population of ages 15 and above, stood at 9.8% in the first quarter of the current Iranian year (March 20-June 20), indicating a 1.1% decline compared with the same period of last year.
A total of 2,505,336 Iranians were unemployed in Q1. Over 1.9 million men and 602,074 women of ages 15 and above were jobless in Q1, according to the latest report by the Statistical Center of Iran.
Men’s unemployment stood at 9% while the rate for women hovered around 13.7%.
The unemployment rate was 10.7% for urban areas (2.03 million people) and 7.3% for rural areas (472,634 people)...
bit.ly/2C9vfWp
@fintribune
Large-Cap Stocks Lead the Tehran Market
Tehran stock market continued its forward march Tuesday as large-cap shares surged. Rising 22,774 points, the market-cap weighted benchmark of Tehran Stock Exchange, TEDPIX, moved up 1.25% to hit 1,844,858.
However, the TSE equal-weighted index fell 1,504 points with 0.31% drop reaching 480,856. The latter index offers a better picture of the market as it gives the same weight to all shares irrespective of their market cap.
More than 12.55 billion shares were traded on TSE and the junior equity market Iran Fara Bourse on Tuesday. Trading value settled at 220.3 trillion ($960 million) rials, which was down 15.6% compared to the previous day.
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Tehran stock market continued its forward march Tuesday as large-cap shares surged. Rising 22,774 points, the market-cap weighted benchmark of Tehran Stock Exchange, TEDPIX, moved up 1.25% to hit 1,844,858.
However, the TSE equal-weighted index fell 1,504 points with 0.31% drop reaching 480,856. The latter index offers a better picture of the market as it gives the same weight to all shares irrespective of their market cap.
More than 12.55 billion shares were traded on TSE and the junior equity market Iran Fara Bourse on Tuesday. Trading value settled at 220.3 trillion ($960 million) rials, which was down 15.6% compared to the previous day.
bit.ly/2ZsSl3l
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Iran Gov’t Bond Yield Edges Up
The government sold Murabaha bonds worth 79 trillion rials ($343 million) in the weekly bond auction Tuesday, marking the highest bond sale since the auctions commenced in May.
The upsurge is apparently linked to the increase in yield the government is willing to pay on bonds. In Tuesday’s auction, the Economy Ministry agreed to pay yields subject to maturity dates. The highest was 19.2% for bonds that mature in August 2023.
Value of bonds sold at this yield stood at 29.9 trillion rials, or for 37% of the total bonds sold for the day, indicating that bonds at this rate were more attractive than those with lower yields but with shorter maturity dates.
bit.ly/2ZqsRmY
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The government sold Murabaha bonds worth 79 trillion rials ($343 million) in the weekly bond auction Tuesday, marking the highest bond sale since the auctions commenced in May.
The upsurge is apparently linked to the increase in yield the government is willing to pay on bonds. In Tuesday’s auction, the Economy Ministry agreed to pay yields subject to maturity dates. The highest was 19.2% for bonds that mature in August 2023.
Value of bonds sold at this yield stood at 29.9 trillion rials, or for 37% of the total bonds sold for the day, indicating that bonds at this rate were more attractive than those with lower yields but with shorter maturity dates.
bit.ly/2ZqsRmY
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New Move to Boost Housing Loans
Bank Maskan, the main housing lender, started offering 10 trillion rials ($45 million) in mortgage-backed securities (MBS) in the bond market to raise funds for its housing projects.
A MBS is an investment similar to a bond that is made up of a bundle of home loans bought from the banks that issued them. A mortgage bond is a bond backed by a pool of mortgages on a real estate asset such as a house.
Investors in MBS receive periodic payments similar to bond coupon payments. The investor who buys a mortgage-backed security is essentially lending money to home buyers.
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Bank Maskan, the main housing lender, started offering 10 trillion rials ($45 million) in mortgage-backed securities (MBS) in the bond market to raise funds for its housing projects.
A MBS is an investment similar to a bond that is made up of a bundle of home loans bought from the banks that issued them. A mortgage bond is a bond backed by a pool of mortgages on a real estate asset such as a house.
Investors in MBS receive periodic payments similar to bond coupon payments. The investor who buys a mortgage-backed security is essentially lending money to home buyers.
bit.ly/3euxzEu
@fintribune
IRIR Signs $70m Logistics Deal for Transportation of Essential Goods
As per a deal signed between the Islamic Republic of Iran Railways and Tidewater Middle-East Company, the latter will be investing 16 trillion rials ($70 million).
The deal involves the procurement of rolling stock and construction of grain terminals for the transportation of essential goods from Imam Khomeini Port in Khuzestan Province and Shahid Rajaee Port in Hormozgan Province to Aprin Logistic Center in southern Tehran.
Deputy Minister of Roads and Urban Development and Head of IRIR Saeed Rasouli and CEO of Tidewater Middle-East Company Hossein Zarei signed the agreement on Monday.
Tidewater will be providing 600 freight and container wagons for IRIR.
bit.ly/2AWMtpq
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As per a deal signed between the Islamic Republic of Iran Railways and Tidewater Middle-East Company, the latter will be investing 16 trillion rials ($70 million).
The deal involves the procurement of rolling stock and construction of grain terminals for the transportation of essential goods from Imam Khomeini Port in Khuzestan Province and Shahid Rajaee Port in Hormozgan Province to Aprin Logistic Center in southern Tehran.
Deputy Minister of Roads and Urban Development and Head of IRIR Saeed Rasouli and CEO of Tidewater Middle-East Company Hossein Zarei signed the agreement on Monday.
Tidewater will be providing 600 freight and container wagons for IRIR.
bit.ly/2AWMtpq
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Tehran Stocks Close Mixed
Stocks in Tehran took a reverse at the opening of trading week on Saturday with interest in large-cap stocks shifting to smaller companies with market indicators showing mixed results.
Heavily impacted by giants of the market, the benchmark of Tehran Stock Exchange, TEDPIX, dropped 1.77% shedding 32,553 points for the day. It later retreated to 1,809,147 points.
The TSE-30 index, which tack shares of 30 companies with the highest market caps, took a drubbing and dropped 3.56%.
financialtribune.com/node/104392
@fintribune
Stocks in Tehran took a reverse at the opening of trading week on Saturday with interest in large-cap stocks shifting to smaller companies with market indicators showing mixed results.
Heavily impacted by giants of the market, the benchmark of Tehran Stock Exchange, TEDPIX, dropped 1.77% shedding 32,553 points for the day. It later retreated to 1,809,147 points.
The TSE-30 index, which tack shares of 30 companies with the highest market caps, took a drubbing and dropped 3.56%.
financialtribune.com/node/104392
@fintribune
35m Iranians Face Covid-19 Risk
Citing a report by the Health Ministry, President Hassan Rouhani said 30-35 million Iranians are susceptible to catch the novel coronavirus and nearly one-fifth of Iran’s population are believed to have already contracted the infectious disease.
In Saturday’s coronavirus taskforce meeting, Rouhani pointed to a recent report by the Health Ministry estimating that 25 million Iranians were infected with Covid-19 in the past 150 days, leaving another 35 million at risk of contracting the contagious illness, President.ir reported.
The president said, “Projections suggest hospitalizations will double in the coming months.” Nearly 200,000 were hospitalized in the roughly five months since the pandemic began to spread in Iran.
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Citing a report by the Health Ministry, President Hassan Rouhani said 30-35 million Iranians are susceptible to catch the novel coronavirus and nearly one-fifth of Iran’s population are believed to have already contracted the infectious disease.
In Saturday’s coronavirus taskforce meeting, Rouhani pointed to a recent report by the Health Ministry estimating that 25 million Iranians were infected with Covid-19 in the past 150 days, leaving another 35 million at risk of contracting the contagious illness, President.ir reported.
The president said, “Projections suggest hospitalizations will double in the coming months.” Nearly 200,000 were hospitalized in the roughly five months since the pandemic began to spread in Iran.
bit.ly/2ZH71vW
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Iran's Q1 Exports to Iraq Top $1.4b
A total of 5 million tons of non-oil goods worth $1.45 billion were exported from Iran to Iraq during the first quarter of the current Iranian year (March 20-June 20) to register a 40% and 38.3% decline in tonnage and value respectively compared with the similar period of last year, according to the secretary-general of Iran-Iraq Chamber of Commerce.
“The decline was due to the coronavirus outbreak, which prompted the Iraqi government to set restrictions on trade and shut down the neighboring country's border crossings,” Hamid Hosseini was quoted as saying by IRNA.
According to the Islamic Republic of Iran's Customs Administration, Iran's overall non-oil exports stood at 21.92 million tons worth $6.36 billion in spring.
This means Iraq accounted for about 22.8% of Iran's overall exports in Q1.
bit.ly/39bpdAB
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A total of 5 million tons of non-oil goods worth $1.45 billion were exported from Iran to Iraq during the first quarter of the current Iranian year (March 20-June 20) to register a 40% and 38.3% decline in tonnage and value respectively compared with the similar period of last year, according to the secretary-general of Iran-Iraq Chamber of Commerce.
“The decline was due to the coronavirus outbreak, which prompted the Iraqi government to set restrictions on trade and shut down the neighboring country's border crossings,” Hamid Hosseini was quoted as saying by IRNA.
According to the Islamic Republic of Iran's Customs Administration, Iran's overall non-oil exports stood at 21.92 million tons worth $6.36 billion in spring.
This means Iraq accounted for about 22.8% of Iran's overall exports in Q1.
bit.ly/39bpdAB
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SCI Reviews Q1 Labor Market in Provinces
The Statistical Center of Iran's latest data on Iran's job market in the first quarter of the current fiscal year (March 20-June 20) show South Khorasan Province registered the lowest unemployment rate of 4% among all Iranian provinces.
This is while Lorestan Province registered the highest unemployment rate of 21%.
Tehran Province, wherein lies the capital city, registered an 8.8% unemployment rate.
Sixteen provinces, namely South Khorasan (4%), Ardabil (6%), Mazandaran (6.2%), Markazi (6.5%), Ilam (6.5%), Zanjan (6.6%), Fars (6.6%), Khorasan Razavi (7%), Yazd (7.6%), Hamedan (7.8%), Semnan (8.1%), Tehran (8.8%), East Azarbaijan (9%), Gilan (9%), Qazvin (9.1%) and Bushehr (9.8%), recorded single-digit unemployment rates.
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The Statistical Center of Iran's latest data on Iran's job market in the first quarter of the current fiscal year (March 20-June 20) show South Khorasan Province registered the lowest unemployment rate of 4% among all Iranian provinces.
This is while Lorestan Province registered the highest unemployment rate of 21%.
Tehran Province, wherein lies the capital city, registered an 8.8% unemployment rate.
Sixteen provinces, namely South Khorasan (4%), Ardabil (6%), Mazandaran (6.2%), Markazi (6.5%), Ilam (6.5%), Zanjan (6.6%), Fars (6.6%), Khorasan Razavi (7%), Yazd (7.6%), Hamedan (7.8%), Semnan (8.1%), Tehran (8.8%), East Azarbaijan (9%), Gilan (9%), Qazvin (9.1%) and Bushehr (9.8%), recorded single-digit unemployment rates.
bit.ly/399liUW
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