UN Urges JCPOA Parties to Redouble Efforts to Restore Nuclear Agreement
The United Nations encouraged all parties involved in talks to revive the 2015 nuclear deal to redouble their efforts to move together toward reimplementation of the agreement, said spokesman for the secretary-general, Stephane Dujarric.
Negotiations have been underway since April in Vienna, Austria, to work out how the United States and Iran can resume compliance with the nuclear deal, known as the Joint Comprehensive Plan of Action.
Washington quit the JCPOA in 2018 and reimposed tough sanctions that prompted Tehran to scale down its commitments in reaction.
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The United Nations encouraged all parties involved in talks to revive the 2015 nuclear deal to redouble their efforts to move together toward reimplementation of the agreement, said spokesman for the secretary-general, Stephane Dujarric.
Negotiations have been underway since April in Vienna, Austria, to work out how the United States and Iran can resume compliance with the nuclear deal, known as the Joint Comprehensive Plan of Action.
Washington quit the JCPOA in 2018 and reimposed tough sanctions that prompted Tehran to scale down its commitments in reaction.
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Lowest Daily Coronavirus Deaths in Over 8 Months
The Health Ministry on Saturday reported 58 deaths caused by Covid-19, the lowest overnight toll since mid-March as most provinces logged zero or only one fatality.
Data gathered by the Health Ministry showed that 19 provinces across the country reported no or one death, ISNA reported.
Despite the promising figures, two of Iran’s cities returned to a red or very high-risk state on Saturday.
President Ebrahim Raeisi during the meeting of the National Coronavirus Headquarters on Saturday said it is critical to follow safety rules to stabilize current figures.
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The Health Ministry on Saturday reported 58 deaths caused by Covid-19, the lowest overnight toll since mid-March as most provinces logged zero or only one fatality.
Data gathered by the Health Ministry showed that 19 provinces across the country reported no or one death, ISNA reported.
Despite the promising figures, two of Iran’s cities returned to a red or very high-risk state on Saturday.
President Ebrahim Raeisi during the meeting of the National Coronavirus Headquarters on Saturday said it is critical to follow safety rules to stabilize current figures.
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Iran's CB Says Forex Well Supplied at Nima
Supply of foreign currency to the regulated wholesale market and the secondary forex market known as Nima increased in the current fiscal year (started March), an official with the Central Bank of Iran said.
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Supply of foreign currency to the regulated wholesale market and the secondary forex market known as Nima increased in the current fiscal year (started March), an official with the Central Bank of Iran said.
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Q2 PPI Inflation Hit 64.6%
The Producer Price Index in the four-quarter period ending Sept. 22, which marks the end of the second quarter of the current Iranian year, grew by 64.6% compared with the corresponding period of last year.
The lowest and highest annualized producer inflation rates were registered for “production, transmission and distribution of electricity” and “mining” with 37.7% and 116.1%, respectively.
PPI (using fiscal 2016-17 as the base year) stood at 468.5 in the second quarter (June 22-Sept. 22), indicating a 11.7% increase compared with the previous quarter and 58.9% growth over the same quarter of last year, the Statistical Center of Iran reported.
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The Producer Price Index in the four-quarter period ending Sept. 22, which marks the end of the second quarter of the current Iranian year, grew by 64.6% compared with the corresponding period of last year.
The lowest and highest annualized producer inflation rates were registered for “production, transmission and distribution of electricity” and “mining” with 37.7% and 116.1%, respectively.
PPI (using fiscal 2016-17 as the base year) stood at 468.5 in the second quarter (June 22-Sept. 22), indicating a 11.7% increase compared with the previous quarter and 58.9% growth over the same quarter of last year, the Statistical Center of Iran reported.
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SCI Reviews Export, Import Price Changes in Second Quarter
The Statistical Center of Iran has reviewed changes in the prices of commodities exported from and imported to the country in the second quarter of the current fiscal year (June 22-Sept. 22).
According to SCI, the Export Price Index, an indicator measuring the overall change in the prices of exported goods and services, (using the year ending March 2017 as the base year), stood at 2,215.3 in Q2 in terms of rial, registering a 20.8% increase compared with the quarter before and a 160.6% rise compared with the same quarter of the previous year.
The average EPI during the quarter leading to Sept. 22, witnessed a 191.7% growth compared with the corresponding period of the year before.
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The Statistical Center of Iran has reviewed changes in the prices of commodities exported from and imported to the country in the second quarter of the current fiscal year (June 22-Sept. 22).
According to SCI, the Export Price Index, an indicator measuring the overall change in the prices of exported goods and services, (using the year ending March 2017 as the base year), stood at 2,215.3 in Q2 in terms of rial, registering a 20.8% increase compared with the quarter before and a 160.6% rise compared with the same quarter of the previous year.
The average EPI during the quarter leading to Sept. 22, witnessed a 191.7% growth compared with the corresponding period of the year before.
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Financial Tribune
SCI Reviews Export, Import Price Changes in Second Quarter
The Statistical Center of Iran has reviewed changes in the prices of commodities exported from and imported to the country in the second quarter of the current fiscal year (June 22-Sept. 22).
Listed Companies Report Higher Sales
Listed firms reported an average 59% increase in sales in the last calendar month to Nov.21 compared with the corresponding month a year before.
Data from financial statements of listed companies show they sold goods and services worth 1,597 trillion rials ($5.5 billion), which was up by 1,005 trillion rials ($3.4b) on the same period last year, the Securities and Exchange News Agency reported, citing data published on codal.ir.
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Listed firms reported an average 59% increase in sales in the last calendar month to Nov.21 compared with the corresponding month a year before.
Data from financial statements of listed companies show they sold goods and services worth 1,597 trillion rials ($5.5 billion), which was up by 1,005 trillion rials ($3.4b) on the same period last year, the Securities and Exchange News Agency reported, citing data published on codal.ir.
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Insurance Premium Income Up 43%: CII
Insurance companies generated 630 trillion rials ($2.1 billion) in premium income in eight months to Nov 22 up 43% on the same period last year, the head of the Central Insurance company of Iran said.
"Insurers sold more than 32 million policies during the period while 320 trillion rials ($1.06) was paid in claims," the state broadcaster IRIB quoted Gholamreza Soleimani as saying at the 28th Conference on Insurance and Development Saturday in Tehran.
Even though the loss ratio of the insurance industry has declined significantly in the past decade, the combined ratio still is 100%, said the official.
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Insurance companies generated 630 trillion rials ($2.1 billion) in premium income in eight months to Nov 22 up 43% on the same period last year, the head of the Central Insurance company of Iran said.
"Insurers sold more than 32 million policies during the period while 320 trillion rials ($1.06) was paid in claims," the state broadcaster IRIB quoted Gholamreza Soleimani as saying at the 28th Conference on Insurance and Development Saturday in Tehran.
Even though the loss ratio of the insurance industry has declined significantly in the past decade, the combined ratio still is 100%, said the official.
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Expert Warns About Consequences of Earthquake in Tehran
Tehran experiences a major earthquake every 165 years on average with magnitudes ranging from 5 to 7.5, says Akramossadat Alijanzadeh, an expert with the Geodesy and Geodynamic Department, affiliated to the National Cartography Center of Iran.
The official was also quoted as saying by the Persian daily Etemad that the last quake to hit the capital had a magnitude of 7 in 1830.
“Some 170 public buildings, 26 hospitals, 115 clinics, 10 universities, 500 schools and educational centers, 45 gas stations, 11 fire stations, 47 shopping malls and 36 hotels are located on the fault line of Tehran Province,” she said.
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Tehran experiences a major earthquake every 165 years on average with magnitudes ranging from 5 to 7.5, says Akramossadat Alijanzadeh, an expert with the Geodesy and Geodynamic Department, affiliated to the National Cartography Center of Iran.
The official was also quoted as saying by the Persian daily Etemad that the last quake to hit the capital had a magnitude of 7 in 1830.
“Some 170 public buildings, 26 hospitals, 115 clinics, 10 universities, 500 schools and educational centers, 45 gas stations, 11 fire stations, 47 shopping malls and 36 hotels are located on the fault line of Tehran Province,” she said.
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Raeisi’s Trip to UAE Would Usher in New Chapter in Ties
The United Arab Emirates’ national security advisor expressed Abu Dhabi’s readiness to expand cooperation with Iran, hoping that a visit by Iranian President Ebrahim Raeisi would usher in a new chapter in the two countries’ relations.
“We are the children of this region and share the same fate, so expansion of bilateral relations is on our agenda,” Sheikh Tahnoon bin Zayed Al Nahyan said in a meeting with Raeisi in Tehran on Monday, President.ir reported.
He also extended the Emirati president’s official invitation to Raeisi to visit the Persian Gulf Arab country.
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The United Arab Emirates’ national security advisor expressed Abu Dhabi’s readiness to expand cooperation with Iran, hoping that a visit by Iranian President Ebrahim Raeisi would usher in a new chapter in the two countries’ relations.
“We are the children of this region and share the same fate, so expansion of bilateral relations is on our agenda,” Sheikh Tahnoon bin Zayed Al Nahyan said in a meeting with Raeisi in Tehran on Monday, President.ir reported.
He also extended the Emirati president’s official invitation to Raeisi to visit the Persian Gulf Arab country.
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Iran's CB Sees Higher Forex Revenue
The Governor of the Central Bank of Iran Ali Salehabadi said access to foreign currency is improving gradually.
“CBI’s access to forex resources has improved meaningfully in the present fiscal year started in March,” he was quoted as by the CBI news website.
“Foreign currency to the tune of $36 billion was supplied for importing goods since the beginning of the year. This was way higher than the total available last year,” he said.
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The Governor of the Central Bank of Iran Ali Salehabadi said access to foreign currency is improving gradually.
“CBI’s access to forex resources has improved meaningfully in the present fiscal year started in March,” he was quoted as by the CBI news website.
“Foreign currency to the tune of $36 billion was supplied for importing goods since the beginning of the year. This was way higher than the total available last year,” he said.
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Shahid Rajaee Rail Cargo Transport Registers 49% Increase
More than 4.93 million tons of goods were transported by railroad from Shahid Rajaee Port of Hormozgan Province to destinations across the country during the current Iranian year’s first eight months (March 21-Nov. 23) to register a 49% rise year-on-year, according to a local official.
“The shipments were transported using 88,298 wagons,” Alireza Mohammadi Karajiran was also quoted as saying by the news portal of the Ministry of Roads and Urban Development.
He noted that around 292,512 tons of the total sum were essential goods, including wheat, vegetable oils, barley and corn.
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More than 4.93 million tons of goods were transported by railroad from Shahid Rajaee Port of Hormozgan Province to destinations across the country during the current Iranian year’s first eight months (March 21-Nov. 23) to register a 49% rise year-on-year, according to a local official.
“The shipments were transported using 88,298 wagons,” Alireza Mohammadi Karajiran was also quoted as saying by the news portal of the Ministry of Roads and Urban Development.
He noted that around 292,512 tons of the total sum were essential goods, including wheat, vegetable oils, barley and corn.
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Tavanir Says: Cryptomining Could Do Better by Going Green
Using renewables would be the best available alternative for cryptominers in Iran insofar as power consumption is concerned given their growing demand for electricity, an official with the Iran Power Generation, Distribution and Transmission Company (Tavanir), said.
"The national grid is not in a position to continue supplying to cryptomining centers. With clean energy miners will not face restrictions. Building renewable power plants takes less time and is less costly," Mohammad Khodadadi, head of cryptominers power supply section at Tavanir, told the Way2pay website.
Cryptominers have been blamed for power shortages in recent months that fueled public frustration in summer when the lights went off despite the fact that the share of legal e-currency miners in the total electricity consumption is meager.
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Using renewables would be the best available alternative for cryptominers in Iran insofar as power consumption is concerned given their growing demand for electricity, an official with the Iran Power Generation, Distribution and Transmission Company (Tavanir), said.
"The national grid is not in a position to continue supplying to cryptomining centers. With clean energy miners will not face restrictions. Building renewable power plants takes less time and is less costly," Mohammad Khodadadi, head of cryptominers power supply section at Tavanir, told the Way2pay website.
Cryptominers have been blamed for power shortages in recent months that fueled public frustration in summer when the lights went off despite the fact that the share of legal e-currency miners in the total electricity consumption is meager.
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Tehran Housing Inflation Eases
Latest data released by the Statistical Center of Iran show the pace of runaway inflation in Tehran’s housing market is easing.
Tehran’s housing Consumer Price Index in the 12-month period ending Nov. 21, which marks the end of the eighth Iranian month, increased by 51.8% compared with the corresponding period of last year.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Oct. 22, at 59.3%.
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Latest data released by the Statistical Center of Iran show the pace of runaway inflation in Tehran’s housing market is easing.
Tehran’s housing Consumer Price Index in the 12-month period ending Nov. 21, which marks the end of the eighth Iranian month, increased by 51.8% compared with the corresponding period of last year.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Oct. 22, at 59.3%.
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Iran Eyes Comprehensive Agreement in Vienna Talks
Iran’s top diplomat said any agreement reached on the revival of the 2015 nuclear deal must be a comprehensive one so that people can feel its tangible results.
Hossein Amir-Abdollahian made the remarks in an Instagram post days after the seventh round of nuclear negotiations broke off for further consultations in capitals.
The talks in the Austrian capital Vienna aim to restore the nuclear deal that has been unravelling since the United States pulled out and reimposed sanctions on Tehran, prompting Iran to react by scaling down its commitments under the agreement, also known as the Joint Comprehensive Plan of Action.
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Iran’s top diplomat said any agreement reached on the revival of the 2015 nuclear deal must be a comprehensive one so that people can feel its tangible results.
Hossein Amir-Abdollahian made the remarks in an Instagram post days after the seventh round of nuclear negotiations broke off for further consultations in capitals.
The talks in the Austrian capital Vienna aim to restore the nuclear deal that has been unravelling since the United States pulled out and reimposed sanctions on Tehran, prompting Iran to react by scaling down its commitments under the agreement, also known as the Joint Comprehensive Plan of Action.
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Iran's CB Boss Says New Platform Planned for Retail Forex Trade
The Central Bank of Iran will launch an electronic trade platform to register retail demand for foreign currency, the governor Ali Salehabadi said.
Salehabadi was speaking during a rare tour of the iconic Ferdowsi Square in central Tehran, the main hub for currency trade.
“The platform is designed to meet the small needs of the people for foreign currency,” he was quoted as saying by the CBI website.
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The Central Bank of Iran will launch an electronic trade platform to register retail demand for foreign currency, the governor Ali Salehabadi said.
Salehabadi was speaking during a rare tour of the iconic Ferdowsi Square in central Tehran, the main hub for currency trade.
“The platform is designed to meet the small needs of the people for foreign currency,” he was quoted as saying by the CBI website.
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Revised VAT for Gold, Jewelry
New regulations governing value added tax on gold trade will come into effect in January, the vice president of the Tehran Gold and Jewelry Union said.
Mohammad Kashti-Aray told the state broadcaster IRIB that the new rules are expected to improve gold trade because “prices would be more attractive.”
As per the new regulations, VAT on gold trade will be levied on service, profit and fees charged by jewelers. In short, the original value of gold will no longer be taxable.
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New regulations governing value added tax on gold trade will come into effect in January, the vice president of the Tehran Gold and Jewelry Union said.
Mohammad Kashti-Aray told the state broadcaster IRIB that the new rules are expected to improve gold trade because “prices would be more attractive.”
As per the new regulations, VAT on gold trade will be levied on service, profit and fees charged by jewelers. In short, the original value of gold will no longer be taxable.
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Fast-Tracking School Connectivity
The entry of conventional Iranian schools into the digital world has gained traction in recent years, as projects to connect urban and rural educational centers to high-speed internet are implemented at an accelerated speed.
The National Information Network, the domestic network with content compatible with Islamic values, is being developed throughout the country as an infrastructure to achieve this goal.
NIN has been used as the primary platform for school connectivity that aims to facilitate users’ access to indigenous content and curb educational disparity.
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The entry of conventional Iranian schools into the digital world has gained traction in recent years, as projects to connect urban and rural educational centers to high-speed internet are implemented at an accelerated speed.
The National Information Network, the domestic network with content compatible with Islamic values, is being developed throughout the country as an infrastructure to achieve this goal.
NIN has been used as the primary platform for school connectivity that aims to facilitate users’ access to indigenous content and curb educational disparity.
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