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.
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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.
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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.
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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.
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EGFI to Open 21 Offices to Boost Exports
The Export Guarantee Fund of Iran is planning to open 21 offices in the provinces to help address exporters’ increasing demand for guarantees.
"Provincial offices should ease the process of issuing export guarantees, register exporters and undertake the primary steps of issuing guarantees," Afrouz Bahrami, EGFI's head was quoted as saying during a meeting with members of Sistan-Balouchestan Chamber of Commerce, Industries, Mining and Agriculture on Thursday.
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The Export Guarantee Fund of Iran is planning to open 21 offices in the provinces to help address exporters’ increasing demand for guarantees.
"Provincial offices should ease the process of issuing export guarantees, register exporters and undertake the primary steps of issuing guarantees," Afrouz Bahrami, EGFI's head was quoted as saying during a meeting with members of Sistan-Balouchestan Chamber of Commerce, Industries, Mining and Agriculture on Thursday.
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Impact of Fiat Money
Expansion of monetary growth has again been blamed on the Central Bank of Iran’s obligation to purchase forex from the National Development Fund of Iran and settle the payment in rials, an “ill-advised method” the CBI governor says is tantamount to over borrowing from the bank at a time when NDFI currency resources at best are inaccessible.
In a note on his social media account, Abdolnasser Hemmati wrote the CBI buying currency from the NDFI to fund budget deficits at the time of tough economic and banking sanctions is like “funding the budget via expanding monetary base”.
“This method in the short-term is tantamount to borrowing from the central bank,” he wrote, adding that “the CBI communicated its (frank) opinion about the possible adverse impact of this method of budget financing”.
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Expansion of monetary growth has again been blamed on the Central Bank of Iran’s obligation to purchase forex from the National Development Fund of Iran and settle the payment in rials, an “ill-advised method” the CBI governor says is tantamount to over borrowing from the bank at a time when NDFI currency resources at best are inaccessible.
In a note on his social media account, Abdolnasser Hemmati wrote the CBI buying currency from the NDFI to fund budget deficits at the time of tough economic and banking sanctions is like “funding the budget via expanding monetary base”.
“This method in the short-term is tantamount to borrowing from the central bank,” he wrote, adding that “the CBI communicated its (frank) opinion about the possible adverse impact of this method of budget financing”.
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Five Industrial Projects Worth $237m Come on Stream
Five industrial projects worth 56 trillion rials ($237 million) were inaugurated in three provinces by President Hassan Rouhani via videoconference meetings on Thursday.
The inaugurations are part of the government's plan to launch 200 industrial, mining and trade projects worth 1.69 quadrillion rials ($7 billion) across the country by the end of the current fiscal year (March 20, 2021), creating 41,000 new jobs along the way, the Ministry of Industries, Mining and Trade's official news service Shata reported.
One of the newly-inaugurated projects is a medium-density fiberboard plant owned by Arian Shimi Factory in Amirabad Port’s Special Economic Zone, located in northern Mazandaran Province.
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Five industrial projects worth 56 trillion rials ($237 million) were inaugurated in three provinces by President Hassan Rouhani via videoconference meetings on Thursday.
The inaugurations are part of the government's plan to launch 200 industrial, mining and trade projects worth 1.69 quadrillion rials ($7 billion) across the country by the end of the current fiscal year (March 20, 2021), creating 41,000 new jobs along the way, the Ministry of Industries, Mining and Trade's official news service Shata reported.
One of the newly-inaugurated projects is a medium-density fiberboard plant owned by Arian Shimi Factory in Amirabad Port’s Special Economic Zone, located in northern Mazandaran Province.
bit.ly/2D5uoqk
@fintirbune
Services PPI Inflation at 27.6% in Q1
The average Producer Price Index for the services sector in the four-quarter period ending June 20 increased by 27.6% compared with the same period of last year, according to the latest data released by the Statistical Center of Iran.
The sector’s average PPI for the four-quarter period to March 19, marking the end of Q4 of last Iranian year, had increased by 29% year-on-year.
The overall PPI for the services sector (using 2011 as the base year) stood at 440.3 in the first quarter of the current fiscal year (March 20-June 20), indicating a 6.7% increase compared with the preceding quarter and a 26.6% rise compared with last year's same quarter.
Services PPI is based on the indexes of eight subsectors, namely “repairing motor vehicles, motorcycles and home devices” with a coefficient of 2.5%, “hotels and restaurants” with the coefficient of 4.8%, “transportation, warehouse services and communications” with a coefficient of 29.6%, “brokerage (insurance) services” with a coefficient of 1.9%, “real estate, renting and business” with a coefficient of 39%, “education” with a coefficient of 12.3%, “health services and social work” with a coefficient of 5.8%, and “other public, social and personal services” with a coefficient of 4.1%.
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The average Producer Price Index for the services sector in the four-quarter period ending June 20 increased by 27.6% compared with the same period of last year, according to the latest data released by the Statistical Center of Iran.
The sector’s average PPI for the four-quarter period to March 19, marking the end of Q4 of last Iranian year, had increased by 29% year-on-year.
The overall PPI for the services sector (using 2011 as the base year) stood at 440.3 in the first quarter of the current fiscal year (March 20-June 20), indicating a 6.7% increase compared with the preceding quarter and a 26.6% rise compared with last year's same quarter.
Services PPI is based on the indexes of eight subsectors, namely “repairing motor vehicles, motorcycles and home devices” with a coefficient of 2.5%, “hotels and restaurants” with the coefficient of 4.8%, “transportation, warehouse services and communications” with a coefficient of 29.6%, “brokerage (insurance) services” with a coefficient of 1.9%, “real estate, renting and business” with a coefficient of 39%, “education” with a coefficient of 12.3%, “health services and social work” with a coefficient of 5.8%, and “other public, social and personal services” with a coefficient of 4.1%.
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Most Stocks Rise Again in Tehran Market
Tehran’s stock market moved higher at the start of trading week on Saturday as investors’ attention shifted again toward giants in the market.
The benchmark of Tehran Stock Exchange, TEDPIX, soared more than 57,325 points, or 3.01%, to close trade at 1,961,649.
Led by large-cap shares, shares of a broad range of smaller companies also gained pushing up the equal-weighted index to 2.16%.
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Tehran’s stock market moved higher at the start of trading week on Saturday as investors’ attention shifted again toward giants in the market.
The benchmark of Tehran Stock Exchange, TEDPIX, soared more than 57,325 points, or 3.01%, to close trade at 1,961,649.
Led by large-cap shares, shares of a broad range of smaller companies also gained pushing up the equal-weighted index to 2.16%.
financialtribune.com/node/104615
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Iran Energy Minister: Hirmand Water Dispute Resolved
Since the beginning of the current water year (last September) Iran unlike previous years has been receiving its fair share of water from Hirmand (Helmand) River as per an agreement signed with Afghanistan in 1972, the energy minister said.
“As per the treaty, Iran is getting its share that will reach 800 million cubic meters by next September,” Reza Ardakanian was quoted as saying by ILNA on Saturday.
Following regular meetings in Tehran and Kabul since 2005 regarding Iran's water rights from the border river, the Afghan side accepted to pursue its water development projects on the shared basin in a way that will not harm Iran’s water share.
“Construction plans on the river should not restrict Iran's share of the joint basin under any circumstances,” the minister said.
Iran is saddled with severe water shortages in its southeastern regions bordering Afghanistan. A big part of the problem is linked directly Kabul respecting the 1972 agreement in the breach.
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Since the beginning of the current water year (last September) Iran unlike previous years has been receiving its fair share of water from Hirmand (Helmand) River as per an agreement signed with Afghanistan in 1972, the energy minister said.
“As per the treaty, Iran is getting its share that will reach 800 million cubic meters by next September,” Reza Ardakanian was quoted as saying by ILNA on Saturday.
Following regular meetings in Tehran and Kabul since 2005 regarding Iran's water rights from the border river, the Afghan side accepted to pursue its water development projects on the shared basin in a way that will not harm Iran’s water share.
“Construction plans on the river should not restrict Iran's share of the joint basin under any circumstances,” the minister said.
Iran is saddled with severe water shortages in its southeastern regions bordering Afghanistan. A big part of the problem is linked directly Kabul respecting the 1972 agreement in the breach.
bit.ly/3hYCP5K
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