Tehran Housing Inflation at 67.3%
Tehran’s housing Consumer Price Index in the 12-month period ending Sept. 22, which marks the end of the sixth Iranian month, increased by 67.3% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Aug. 22, at 75.3%.
The housing inflation for the month under review (Aug. 23-Sept. 22) registered a year-on-year increase of 23.8% compared with the similar month of last year. The year-on-year inflation of the month ending Aug. 22 was 33.7%.
financialtribune.com/node/110827
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Tehran’s housing Consumer Price Index in the 12-month period ending Sept. 22, which marks the end of the sixth Iranian month, increased by 67.3% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Aug. 22, at 75.3%.
The housing inflation for the month under review (Aug. 23-Sept. 22) registered a year-on-year increase of 23.8% compared with the similar month of last year. The year-on-year inflation of the month ending Aug. 22 was 33.7%.
financialtribune.com/node/110827
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South Pars Completion Requires Investment of $7.5 Billion
Nearly $80 billion have been invested in the upstream sector of South Pars Gas Field in the Persian Gulf so far, but more is needed to complete the unfinished phases in the huge field, managing director of the National Iranian Oil Company said.
“The completion of Phase 11 as well as phases 13, 14 and 22-24 needs about $7.5 billion of investment in Asalouyeh region,” Mohsen Khojastehmehr was also quoted as saying by the Oil Ministry’s news agency Shana.
“The development of these phases has registered over 90% progress and is expected to be completed by the end of the current Iranian year March 20, 2022.”
financialtribune.com/node/110824
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Nearly $80 billion have been invested in the upstream sector of South Pars Gas Field in the Persian Gulf so far, but more is needed to complete the unfinished phases in the huge field, managing director of the National Iranian Oil Company said.
“The completion of Phase 11 as well as phases 13, 14 and 22-24 needs about $7.5 billion of investment in Asalouyeh region,” Mohsen Khojastehmehr was also quoted as saying by the Oil Ministry’s news agency Shana.
“The development of these phases has registered over 90% progress and is expected to be completed by the end of the current Iranian year March 20, 2022.”
financialtribune.com/node/110824
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Majlis to Probe Dramatic Decline in Stock Market
Lawmakers on Tuesday approved a proposal from the Majlis Economic Commission to investigate the historic stock market decline plus the performance of its regulator, the Securities and Exchange Organization.
Investigators will look into developments in the Tehran Stock Exchange early in the last fiscal year that led to the unprecedented hike in share prices in five months followed by the historic plunge that has almost continued until today.
MPs also want to investigate the relevant authorities approach to the issue as well as the frequent changes in SEO management, which, some lawmakers say, at times failed to uphold administrative formalities, the parliamentary news website, ICANA, reported.
financialtribune.com/node/110982
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Lawmakers on Tuesday approved a proposal from the Majlis Economic Commission to investigate the historic stock market decline plus the performance of its regulator, the Securities and Exchange Organization.
Investigators will look into developments in the Tehran Stock Exchange early in the last fiscal year that led to the unprecedented hike in share prices in five months followed by the historic plunge that has almost continued until today.
MPs also want to investigate the relevant authorities approach to the issue as well as the frequent changes in SEO management, which, some lawmakers say, at times failed to uphold administrative formalities, the parliamentary news website, ICANA, reported.
financialtribune.com/node/110982
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Iran's Q1-3 Transactions With Turkey Increase 76% to $3.3 Billion
Iran and Turkey registered $3.34 billion in trade during the first nine months of 2021, 76.38% higher than last year’s corresponding figure.
The former exported goods worth $1.69 billion during the period, up 140.62% year-on-year, while imports from Turkey grew by 38.61% YOY to $1.65 billion, latest data by Turkish Statistical Institute show.
Iran and Turkey exchanged $503.37 million worth of goods and commodities in September 2021, 90.48% higher than the value registered in the same period of last year.
financialtribune.com/node/110964
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Iran and Turkey registered $3.34 billion in trade during the first nine months of 2021, 76.38% higher than last year’s corresponding figure.
The former exported goods worth $1.69 billion during the period, up 140.62% year-on-year, while imports from Turkey grew by 38.61% YOY to $1.65 billion, latest data by Turkish Statistical Institute show.
Iran and Turkey exchanged $503.37 million worth of goods and commodities in September 2021, 90.48% higher than the value registered in the same period of last year.
financialtribune.com/node/110964
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CNG Sales Increase Following Cyberattack on Gas Stations
Following a cyberattack that severely disrupted the sale of subsidized gasoline in Iran last Tuesday, the sale of compressed natural gas has experienced a 50% jump per day, a member of the board of directors at Iran's CNG Association said.
“CNG demand has risen by 10 million cubic meters a day since last week as many car owners are not willing to fill up their tank with expensive, unsubsidized fuel,” the Energy Today website also quoted Mohsen Johari as saying.
Before the cyber assault, CNG sales peaked at 25 mcm/d and it has now reached 35 million cubic meters per day, he added.
financialtribune.com/node/110970
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Following a cyberattack that severely disrupted the sale of subsidized gasoline in Iran last Tuesday, the sale of compressed natural gas has experienced a 50% jump per day, a member of the board of directors at Iran's CNG Association said.
“CNG demand has risen by 10 million cubic meters a day since last week as many car owners are not willing to fill up their tank with expensive, unsubsidized fuel,” the Energy Today website also quoted Mohsen Johari as saying.
Before the cyber assault, CNG sales peaked at 25 mcm/d and it has now reached 35 million cubic meters per day, he added.
financialtribune.com/node/110970
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Regulators Alone Cannot Resolve Contentious Cryptocurrency Issues
The Central Bank of Iran is not capable of regulating cryptocurrencies, says the head of the Iran Blockchain Association, calling for creating an independent council to get the job done.
"We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not qualified enough to set rules for cryptos given the multidimensionality of the issue," Abbas Ashtiani told a press conference on Tuesday.
Mining virtual currency is legal in Iran and miners can operate under government rules. Miners are required to acquire a license from the Ministry of Industries and pay their electricity bills based on power export tariffs.
financialtribune.com/node/110981
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The Central Bank of Iran is not capable of regulating cryptocurrencies, says the head of the Iran Blockchain Association, calling for creating an independent council to get the job done.
"We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not qualified enough to set rules for cryptos given the multidimensionality of the issue," Abbas Ashtiani told a press conference on Tuesday.
Mining virtual currency is legal in Iran and miners can operate under government rules. Miners are required to acquire a license from the Ministry of Industries and pay their electricity bills based on power export tariffs.
financialtribune.com/node/110981
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Selected Automakers to Join IME
The long anticipated plan to bring auto trade to the capital market is reportedly coming to fruition.
Carmakers are set to offer vehicles at the Iran Mercantile Exchange and the IME says there is no barrier to selling a limited number of cars via this market.
“Cars that are not subject to pricing mechanism by the government can be offered at the IME” Javad Jahromi, the IME deputy for operations told IRIB news.
financialtribune.com/node/111011
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The long anticipated plan to bring auto trade to the capital market is reportedly coming to fruition.
Carmakers are set to offer vehicles at the Iran Mercantile Exchange and the IME says there is no barrier to selling a limited number of cars via this market.
“Cars that are not subject to pricing mechanism by the government can be offered at the IME” Javad Jahromi, the IME deputy for operations told IRIB news.
financialtribune.com/node/111011
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