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Business Activities Rebound

EghtesadOnline: The Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for Iran’s overall economy rebounded in the second month of the current fiscal year (April 20-May 20), thanks to a jump in output as companies resumed production after the coronavirus lockdowns and the new Iranian year’s holidays, the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture reported.
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Publish Date: 14/June/2020 | 10:37

Plains Running Out of Fossil Water

EghtesadOnline: Estimates show Iran holds 500 billion cubic meters of fossil water, of which 300 bcm is fresh water.
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Publish Date: 13/June/2020 | 07:37

Interbank Market Over a Decade

EghtesadOnline: A survey of Iran’s interbank market in the past 10 years shows that it was steady from 2008 to 2014 in terms of both volume and value of deals before rising sharply from 2015 onwards.
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Publish Date: 13/June/2020 | 07:32

CBI Reprimands South Korea for Illegally Withholding $7 Billion

EghtesadOnline: Iran is escalating its pressure on South Korea to release billions of dollars of oil-export revenue, arguing that Seoul is buckling to pressure from its US ally and illegally withholding funds needed to counter the Middle East’s worst coronavirus outbreak.
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Publish Date: 12/June/2020 | 19:24

Iran’s Silo Capacity of Strategic Goods Reaches 21m Tons

EghtesadOnline: Iran’s storage capacity for strategic goods and grains has reached 21 million tons, says an official with Government Trading Corporation of Iran, a subsidiary of Agriculture Ministry.
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Publish Date: 09/June/2020 | 24:11

60% Decline in Iran's Exports of Heavyweight Steel Mills

EghtesadOnline: Iranian heavyweight steel producers exported 809,665 tons of steel products, including beam, rebar, ingot, slab, hot- and cold-rolled coils, and coated coils, during the first two months of the current Iranian year (March 20-May 20) to register a 60% decline compared with last year’s corresponding period.
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Publish Date: 09/June/2020 | 11:52

Iran: 25% of Power Output in 2019 From Renewables

EghtesadOnline: Almost 25% of the electricity produced in the last fiscal (ended in March) was generated from renewable sources (steam, water, nuclear, wind and solar), chief executive officer of Iran’s Thermal Power Plants Holding Company said.
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Publish Date: 08/June/2020 | 08:20

New Rules for Moneychangers

EghtesadOnline: Association of Bureaux de Change Operators of Iran has required authorized moneychangers to keep a record of their daily operations in the central bank-affiliated SANA system and Nima platforms, warning them against trading foreign currency outside the supervisory platforms.
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Publish Date: 08/June/2020 | 07:57

Tehran Virus Toll Volatile, Alarming

EghtesadOnline: Following the rapid reopening of businesses across Iran amid the coronavirus pandemic, a health official said infections in the capital Tehran are volatile and alarming.
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Publish Date: 08/June/2020 | 07:54

20% Rise in Rail Fares

EghtesadOnline: The Supreme Council of Transportation, affiliated with the Ministry of Roads and Urban Development, has approved a 20% rise in rail fares as of June 21, says the secretary of Iran’s Guild of Rail Transport Companies.
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Publish Date: 07/June/2020 | 24:37

Iran Gov’t Unveils Draft of Fiscal 2020-21 Budget Overhaul

EghtesadOnline: The government unveiled the draft plan for the overhaul of the current fiscal year’s budget law (March 2020-21) on Saturday, which “entails a major surgery of the economic and administrative systems and requires consensus”, Mohammad Baqer Nobakht, the head of Plan and Budget Organization of Iran, said on Wednesday.
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Publish Date: 07/June/2020 | 07:01

Rising Liquidity Stress Tied to Borrowing From NDFI, Sanctions

EghtesadOnline: In a press release outlining reasons behind the monumental growth in liquidity in recent months, the Central Bank of Iran blamed borrowing from the National Development Fund of Iran and the new US sanctions on oil exports.
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Publish Date: 07/June/2020 | 06:57

Iran Gov’t Earns $300m in First Bond Auction

EghtesadOnline: In the first Central Bank of Iran auction of Islamic bonds on Tuesday, the government generated 51 trillion rials ($300 million).
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Publish Date: 06/June/2020 | 24:50

Iran, Iraq Power Export Contract Renewed for Two Years

EghtesadOnline: Importing electricity from Iran is of vital importance for Iraq (both politically and economically), the Iraqi Minister of Electricity Majid Mahdi Hantoush said at the weekend.
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Publish Date: 06/June/2020 | 10:29

Turkey Reopens Border Gates With Iran

EghtesadOnline: Trucks started arriving at border gates after Turkish Trade Minister Ruhsar Pekcan on Thursday announced that Turkey has reopened the Gurbulak border gate with Iran (known as Bazargan on the Iranian side of the border) and the Habur border gate with Iraq for international freight transport.
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Publish Date: 06/June/2020 | 06:33