Construction Growth at 7% in H1
The construction sector grew by 7% in the first half of the current fiscal year (March 21-Sept. 22) compared with last year’s corresponding period, latest data released by the Statistical Center of Iran show.
SCI had put the sector’s growth in the fiscal 2020-21 at 6.3%.
The sector’s GDP stood at 163.179 trillion rials ($543.9 at the exchange rate of 300,000 rials per dollar) in H1 to account for 4.5% of total gross domestic product during the period.
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The construction sector grew by 7% in the first half of the current fiscal year (March 21-Sept. 22) compared with last year’s corresponding period, latest data released by the Statistical Center of Iran show.
SCI had put the sector’s growth in the fiscal 2020-21 at 6.3%.
The sector’s GDP stood at 163.179 trillion rials ($543.9 at the exchange rate of 300,000 rials per dollar) in H1 to account for 4.5% of total gross domestic product during the period.
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Key Indicators Point to Let-Up in Pandemic
The daily tally of coronavirus infections and mortalities on Saturday fell to figures as low as the early days of the pandemic as Iran reported that none of its cities were categorized as very high-risk or high-risk zones anymore.
The Health Ministry logged 1,360 cases on Saturday, the lowest number of daily infections since May 2020, bringing the total count to 6.16 million.
The ministry on the same day registered only 41 deaths, a record-low since late May 2020, taking the national toll to 131,033.
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The daily tally of coronavirus infections and mortalities on Saturday fell to figures as low as the early days of the pandemic as Iran reported that none of its cities were categorized as very high-risk or high-risk zones anymore.
The Health Ministry logged 1,360 cases on Saturday, the lowest number of daily infections since May 2020, bringing the total count to 6.16 million.
The ministry on the same day registered only 41 deaths, a record-low since late May 2020, taking the national toll to 131,033.
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Iran's Trade with Neighbors Surges 45% YOY to $33b in 8 Months
Iran traded 68 million tons of goods worth $33 billion with its 15 neighboring countries during the current Iranian year’s first eight months (March 21-Nov. 21), registering a 19% and 45% rise in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“The tonnage and value of trade with neighbors accounted for 62% and 52% of Iran’s total foreign trade during the eight months under review,” Rouhollal Latifi was also quoted as saying by ILNA.
According to the official, 83.74 million tons of goods worth $31.1 billion were exported during the period, around 52.39 million tons of which worth $16.66 billion (constituting 62% and 53% of the weight and value of the overall export respectively) were shipped to Iran’s 15 neighbors.
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Iran traded 68 million tons of goods worth $33 billion with its 15 neighboring countries during the current Iranian year’s first eight months (March 21-Nov. 21), registering a 19% and 45% rise in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“The tonnage and value of trade with neighbors accounted for 62% and 52% of Iran’s total foreign trade during the eight months under review,” Rouhollal Latifi was also quoted as saying by ILNA.
According to the official, 83.74 million tons of goods worth $31.1 billion were exported during the period, around 52.39 million tons of which worth $16.66 billion (constituting 62% and 53% of the weight and value of the overall export respectively) were shipped to Iran’s 15 neighbors.
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Iran's Industries Ministry, CB to Coordinate Foreign Trade and Currency Policies
The Industries Ministry and Central Bank of Iran signed a memorandum of understanding to coordinate the foreign trade programs of the former with the forex policy of the latter.
According to a press release seen on the CBI website, a joint taskforce was formed and became operational to this end soon after the MOU was signed.
The taskforce will craft measures “to augment non-oil export, facilitate repatriation of export forex income, supply currency for import and reform foreign trade procedures”.
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The Industries Ministry and Central Bank of Iran signed a memorandum of understanding to coordinate the foreign trade programs of the former with the forex policy of the latter.
According to a press release seen on the CBI website, a joint taskforce was formed and became operational to this end soon after the MOU was signed.
The taskforce will craft measures “to augment non-oil export, facilitate repatriation of export forex income, supply currency for import and reform foreign trade procedures”.
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Insurance Sector Expanding Despite Challenges: CII Says
The Central Insurance company of Iran published a report on the industry's sales stating that the number of branches and agents increased in the last fiscal year (March 2020-21).
More than 83,900 insurance agents were active during the year -- 8.7% higher than the year before, the regulator said. The number of agents specializing in the life insurance segment increased 12.9% to 44,300.
Pasargad Insurance Company, affiliated to Bank Pasargad Iran, alone accounted for 41.1% of active agents across the country with 34,483 agents. Iran Insurance Company was second with 13,242 agents, followed by Asia Insurance Company.
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The Central Insurance company of Iran published a report on the industry's sales stating that the number of branches and agents increased in the last fiscal year (March 2020-21).
More than 83,900 insurance agents were active during the year -- 8.7% higher than the year before, the regulator said. The number of agents specializing in the life insurance segment increased 12.9% to 44,300.
Pasargad Insurance Company, affiliated to Bank Pasargad Iran, alone accounted for 41.1% of active agents across the country with 34,483 agents. Iran Insurance Company was second with 13,242 agents, followed by Asia Insurance Company.
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Tehran Stock Rally Short-Lived
Tehran stocks stumbled again on Sunday after a short-lived rally a session earlier with selloff pressure on almost all share categories.
Crossing the 1.3 million level a day earlier, the benchmark of Tehran Stock Exchange, TEDPIX, lost the critical level on Sunday and dived deeper. It shed 13,870 points or 1.06% to end trade at 1,291,665 points.
Net capital outflow by retail investors continued for 17th consecutive session, amounting to 4.14 trillion rials ($14 million) for the day, up 310% on the session before.
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Tehran stocks stumbled again on Sunday after a short-lived rally a session earlier with selloff pressure on almost all share categories.
Crossing the 1.3 million level a day earlier, the benchmark of Tehran Stock Exchange, TEDPIX, lost the critical level on Sunday and dived deeper. It shed 13,870 points or 1.06% to end trade at 1,291,665 points.
Net capital outflow by retail investors continued for 17th consecutive session, amounting to 4.14 trillion rials ($14 million) for the day, up 310% on the session before.
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Key Role of Migrants in Iran’s Economy Discussed at TCCIM
Between 30% and 40% of Iran’s exports to Afghanistan are undertaken by Afghan migrants in Iran, according to the director general of the Export Expansion Department of the Trade Promotion Organization of Iran.
“Afghan migrants have a better knowledge and understanding of the ins and outs of their own market and its demands, and are more familiar with our transactional difficulties as well as ways of overcoming them,” Miraboutaleb Badri was also quoted as saying by ILNA.
Badri was addressing a ceremony held at Tehran Chamber of Commerce, Industries, Mines and Agriculture on Saturday to mark the International Migrants Day.
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Between 30% and 40% of Iran’s exports to Afghanistan are undertaken by Afghan migrants in Iran, according to the director general of the Export Expansion Department of the Trade Promotion Organization of Iran.
“Afghan migrants have a better knowledge and understanding of the ins and outs of their own market and its demands, and are more familiar with our transactional difficulties as well as ways of overcoming them,” Miraboutaleb Badri was also quoted as saying by ILNA.
Badri was addressing a ceremony held at Tehran Chamber of Commerce, Industries, Mines and Agriculture on Saturday to mark the International Migrants Day.
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Loan to Deposit Ratio at 81.8%
Loan-to-deposit ratio increased to 81.8% by the end of the sixth month in this fiscal year – up 3.3% percentage points compared to the corresponding period last year.
The ratio was up 0.6 percentage points on the preceding month and 1.8 percentage points higher in the six months since the beginning the fiscal year on March 21, the Central Bank of Iran said.
LDR is used to assess a bank's liquidity by comparing the total loans to total deposits for a specific period and is expressed in percentage.
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Loan-to-deposit ratio increased to 81.8% by the end of the sixth month in this fiscal year – up 3.3% percentage points compared to the corresponding period last year.
The ratio was up 0.6 percentage points on the preceding month and 1.8 percentage points higher in the six months since the beginning the fiscal year on March 21, the Central Bank of Iran said.
LDR is used to assess a bank's liquidity by comparing the total loans to total deposits for a specific period and is expressed in percentage.
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Imports of Essential Goods Hit Record With 6.2m Tons
The Government Trading Corporation has imported a record high of 6.2 million tons of essential goods since the beginning of the current Iranian year (started March 21), the director general of GTC’s Foreign Trade Coordination Department said.
“The essential goods were imported through Iran’s southern and northern ports through 294 vessels, which also mark a record,” Masoud Raygan was also quoted as saying by IRNA.
He added that the import volume is expected to reach 10 million tons by the Iranian yearend (March 20, 2022).
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The Government Trading Corporation has imported a record high of 6.2 million tons of essential goods since the beginning of the current Iranian year (started March 21), the director general of GTC’s Foreign Trade Coordination Department said.
“The essential goods were imported through Iran’s southern and northern ports through 294 vessels, which also mark a record,” Masoud Raygan was also quoted as saying by IRNA.
He added that the import volume is expected to reach 10 million tons by the Iranian yearend (March 20, 2022).
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Tehran Stock Market Buoyant
Tehran stocks closed Monday in upbeat mode buoyed by fresh reports that the government has mobilized its energy to lift the struggling market.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 9,841.28 points or 0.76% to end trade at 1,301,516.81.
Stocks of big listed companies improved following reports about 10 supportive measures unveiled by the government late on Sunday. The forward momentum was seen in the 1.17% rise in the TSE-30 Index, which tracks the performance of top 30 companies in terms of market cap.
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Tehran stocks closed Monday in upbeat mode buoyed by fresh reports that the government has mobilized its energy to lift the struggling market.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 9,841.28 points or 0.76% to end trade at 1,301,516.81.
Stocks of big listed companies improved following reports about 10 supportive measures unveiled by the government late on Sunday. The forward momentum was seen in the 1.17% rise in the TSE-30 Index, which tracks the performance of top 30 companies in terms of market cap.
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New Measures to Help Lift Share Market
To help rescue the crisis-plagued stock market, the government has announced new measures to boost demand and improve profit-taking.
The Economic Coordination Headquarter approved ten measures announced by the Economy Minister Ehsan Khandouzi late on Sunday.
The measures seemingly address the valid concerns of stock investors about the price of feedstock the government sells to the giant metal, refinery and petrochemical companies.
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To help rescue the crisis-plagued stock market, the government has announced new measures to boost demand and improve profit-taking.
The Economic Coordination Headquarter approved ten measures announced by the Economy Minister Ehsan Khandouzi late on Sunday.
The measures seemingly address the valid concerns of stock investors about the price of feedstock the government sells to the giant metal, refinery and petrochemical companies.
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Iran's Steel Output Declines by 10%
Anew report by the Iranian Steel Producers Association shows Iranian steelmakers produced a total of 18.53 million tons of semi-finished products during the first eight months of the current fiscal year (March 21-Nov. 21), down 10% year-on-year.
According to ISPA, billet and bloom made up 10.96 million tons of total semi-finished production, down 15% YOY.
Slab output reached 7.57 million tons to register a 2% decline year-on-year.
The output of finished steel decreased by 8% YOY to 12.82 million tons.
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Anew report by the Iranian Steel Producers Association shows Iranian steelmakers produced a total of 18.53 million tons of semi-finished products during the first eight months of the current fiscal year (March 21-Nov. 21), down 10% year-on-year.
According to ISPA, billet and bloom made up 10.96 million tons of total semi-finished production, down 15% YOY.
Slab output reached 7.57 million tons to register a 2% decline year-on-year.
The output of finished steel decreased by 8% YOY to 12.82 million tons.
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Iran's Trade With ECO Soars 44% to $10.4 Billion in 8 Months
Trade between Iran and Economic Cooperation Organization’s nine members stood at 21.78 million tons worth $10.45 billion in the current fiscal year’s first eight months (March 21-Nov. 21), registering a 34% and 44% year-on-year growth in weight and value respectively, according to Rouhollah Latifi, spokesman of the Islamic Republic of Iran Customs Administration.
Iran’s exports stood at 18.63 million tons worth $6.82 billion, up 46% and 54% in weight and value respectively YOY, ILNA reported.
Turkey with 11.35 million tons (up 123% YOY) worth $3.77 billion (up 128% YOY), Afghanistan with 3.06 million tons (down 35%) worth $1.27 billion (down 16%) and Pakistan with 1.87 million tons (up 22%) worth $764.39 million (up 28%) were the top three export destinations in the period.
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Trade between Iran and Economic Cooperation Organization’s nine members stood at 21.78 million tons worth $10.45 billion in the current fiscal year’s first eight months (March 21-Nov. 21), registering a 34% and 44% year-on-year growth in weight and value respectively, according to Rouhollah Latifi, spokesman of the Islamic Republic of Iran Customs Administration.
Iran’s exports stood at 18.63 million tons worth $6.82 billion, up 46% and 54% in weight and value respectively YOY, ILNA reported.
Turkey with 11.35 million tons (up 123% YOY) worth $3.77 billion (up 128% YOY), Afghanistan with 3.06 million tons (down 35%) worth $1.27 billion (down 16%) and Pakistan with 1.87 million tons (up 22%) worth $764.39 million (up 28%) were the top three export destinations in the period.
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Domestic Airport Traffic Surveyed
Domestic passenger traffic in Iranian airports registered a year-on-year growth of 13% during the current fiscal year’s first eight months (March 21-Nov. 21), as 17.19 million passengers were flown internally by Iranian airlines during the period.
Data released by Iran Airports Company also show takeoffs and landings posted a 27% YOY growth to 209,334.
Over 139.83 million tons of cargos were shipped during the period under review, marking a 25% year-on-year growth.
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Domestic passenger traffic in Iranian airports registered a year-on-year growth of 13% during the current fiscal year’s first eight months (March 21-Nov. 21), as 17.19 million passengers were flown internally by Iranian airlines during the period.
Data released by Iran Airports Company also show takeoffs and landings posted a 27% YOY growth to 209,334.
Over 139.83 million tons of cargos were shipped during the period under review, marking a 25% year-on-year growth.
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Iran Rolls Out Boosters for Over 18s to Avert New Virus Surge
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H1 GDP Growth at 3.3%: Iran's CB
Iran’s gross domestic product grew by 3.3% in the first half of the current fiscal year (March 21-Sept. 22) compared with last year’s corresponding period, the Central Bank of Iran reported on Tuesday.
Putting the H1 GDP volume at 75,305 trillion rials ($251 billion at the exchange rate of 300,000 rials per dollar), the CBI says the economy expanded by 2.4%, excluding crude oil production.
The services and oil sectors grew by 5.7% and 15.1% respectively while agriculture contracted by 2% and so did “industries and mines” by 1.9%.
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Iran’s gross domestic product grew by 3.3% in the first half of the current fiscal year (March 21-Sept. 22) compared with last year’s corresponding period, the Central Bank of Iran reported on Tuesday.
Putting the H1 GDP volume at 75,305 trillion rials ($251 billion at the exchange rate of 300,000 rials per dollar), the CBI says the economy expanded by 2.4%, excluding crude oil production.
The services and oil sectors grew by 5.7% and 15.1% respectively while agriculture contracted by 2% and so did “industries and mines” by 1.9%.
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