Business
July 19-23, 1999 / Tir 28-1 Mordad, 1378
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Today
* Rafsanjani
says Iran strong after unrest
* Conservatives tighten control on government
* Iran seeking to export natural gas through Kish
Previous
* Rules expected on US sales to Iran,
Sudan, Libya
* Iran's Kharrazi says Saudi visit is about oil
* Khatami names adviser to run Iran 'sfree-trade zones
* IRAN: B2 rating reflects weak economy
* Sen. Lugar Impatient In Absence Of Iran Export Regulations
* U.S. should mind its own business
* Foreign workers take $1.2 billion out of Iran annually
* South Korea to build gas plant in Iran
* Iran unrest may set back Khatami economic reforms
* Iran To Finalize 10 Petrochemical Deals In 2 Mos - IRNA
* Rainfall eases Iran drought fear, brings deadly flood
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$ Rate
Updated July 23, 1999
* Buying: 890-915 tomans per dollar
* Selling: 920 tomans per dollar
Source: Sehaty Foreign Exchange. Call in U.S.: 602-595-0777 OR
500-288-8881, Fax: 602-595-0222. Address: PO Box 3230, Carefree,
AZ 85377, USA. Mention this code for a better rate:
FA37B
Friday,
July 23, 1999
* Rafsanjani says Iran strong after unrest
TEHRAN (Reuters) - Iran's Islamic system emerged from recent unrest
as strong and stable as ever, former President Akbar Hashemi Rafsanjani
said Friday. But he warned that the unrest, among the worst since the
1979 Islamic revolution, could scare away foreign investors ... FULL
TEXT
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* Conservatives tighten control on government
TEHRAN, July 22 (AFP) - Iran's conservatives tightened their control
over the government Thursday after a senior right-winger was named head
of one of the most powerful economic and political institutions in the
Islamic republic. Mohammad Forouzandeh was given a five-year apppointment
to head the Foundation for the Disinherited, a gigantic state empire
that employs hundreds of thousands of Iranians and has an estimated 100
billion dollars in assets ... FULL
TEXT
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* Iran seeking to export natural gas through Kish
22nd July,( IRNA - BBC Worldwide Monitoring) -- Tehran is preparing
to export 4.8m tons of liquefied natural gas and 600,000 tons of methanol
from the South Pars gas field to Southeast Asia, said Mohammad-Reza Yazdanpanah,
managing director of the Kish FTZ [Free Trade Zone] Organization ... FULL TEXT
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Thursday
Juuly 15, 1999
* Rules expected on US sales to Iran, Sudan, Libya
WASHINGTON, July 22 (Reuters) - The United States plans to issue long-awaited
rules this week that will allow for the sale of food, medicine and medical
equipment to Iran, Sudan and Libya on a case-by-case basis, a Clinton administration
aide said on Thursday. But some farm sectors that had been hoping to participate
in the sales will not be allowed. ``We came down that food will be consumable
items, although we're allowing for animal feed as well,'' the aide said.
The definition prevents sales of U.S. cotton and tobacco to the three countries
... FULL
TEXT
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* Iran's Kharrazi says Saudi visit is about oil
TEHRAN, July 21 (Reuters) - The Iranian foreign minister said on Wednesday
his visit to Saudi Arabia would focus on oil and dismissed reports the
talks would centre on a territorial dispute between Iran and the United
Arab Emirates. The Iranian news agency IRNA quoted Kamal Kharrazi as saying
it was ``false propaganda'' that the two-day visit was linked to Gulf Arab
efforts to press Iran to work with the UAE to resolve the row over three
islands near key shipping lanes in the Gulf ... FULL
TEXT
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* Khatami names adviser to run Iran 'sfree-trade zones
TEHRAN, July 21 (AFP) - President Mohammad Khatami has appointed a closea
dviser to head the council overseeing Iran's free-trade zones, which are
to be developed into industrial and offshore banking centers. Hossein Nassiri,
who is also a former director of the official IRNA news agency, replaces
Morteza Alviri, who was named Tehran mayor in June, as secretary for the
high council of free trade zones ... FULL
TEXT
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* IRAN: B2 rating reflects weak economy
July 22, 1999 (Financial Times) -- In its first annual report on Iran,
Moody's, the rating agency, said Iran'sjunk bond B2 credit rating reflected
its weak economy and a lack ofconsistency in its reform process. Moody's
said the country's weak economic structure, which depends heavily onoil
exports, is prone to balance of payment crises because of the volatilityin
oil prices ... FULL
TEXT
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Wednesday
July 21, 1999
* Sen. Lugar Impatient In Absence Of Iran Export Regulations
July 20, WASHINGTON (Dow Jones)--U.S. Senate Agriculture Committee Chairman
Richard Lugar, R-Ind., Tuesday called on President Bill Clinton to immediately
put in place regulations that will allow U.S. companies to export agricultural
products to Iran , Sudan and Libya. "It has now been more than two
months since (Undersecretary of State Stuart) Eizenstat testified at our
hearing and there is still no definite timetable for implementing this
new policy," Lugar said in a letter to Clinton ... FULL
TEXT
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* U.S. should mind its own business
July 20 (National Post, Canada) - There is an additional, unfortunate
"know your client" rule at U.S.-owned Merrill Lynch Canada Inc.,
according to a company memo leaked to me recently. It was a reminder to
all employees of Merrill Lynch that they must comply with the U.S. Foreign
Corrupt Practices Act. This means that they must report to their legal
department any transactions involving countries that are the subject of
U.S. economic sanctions ... FULL
TEXT
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* Foreign workers take $1.2 billion out of Iran annually
June 30, (The Middle East Observer) - Mashad, Khorasan Province - A
senior Labor Ministry official said that over one million foreign nationals
illegally working in Iran take $1.2 billion out of the country annually
... FULL
TEXT
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Tuesday
July 20, 1999
* South Korea to build gas plant in Iran
SEOUL, July 20 (Asia Pulse) - A South Korea's Samsung Heavy Industries
(KSE:10140) says it will build a US$200 million large-size marine gas production
plant for National Iranian Oil Company (NIOC) ... FULL
TEXT
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Monday
July 12, 1999
* Iran unrest may set back Khatami economic reforms
TEHRAN, July 19 (Reuters) - President Mohammad Khatami, already facing
major political obstacles in attempts to resolve Iran's economic troubles,
may find his opponents strengthened by last week's violent unrest. The
student protests which led to riots in Tehran have unleashed a wave of
criticism against Khatami's government from hardline conservatives opposed
to his reform policies which they fear could undermine clerical rule in
Iran ... FULL
TEXT
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* Iran To Finalize 10 Petrochemical Deals In 2 Mos - IRNA
TEHRAN (Dow Jones)-- Iran 's National Petrochemical Co. (NPC) is at
the closing stage in negotiations with international companies to build
10 petrochemical projects, deputy oil minister and NPC head Mohammad-Reza
Nematzadeh said Saturday. Nematzadeh said the winners of the relevant tenders
will be announced within the next two months or so. The offered tenders
included new projects as well as new units at existing plants ... FULL TEXT
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* Rainfall eases Iran drought fear, brings deadly flood
TEHRAN, July 16 (Reuters) - Torrential rains in Iran have somewhat eased
worries about a severe drought, but also triggered floods which damaged
crops and killed eight people, Iranian state television reported on Friday.
It said another five people were missing after the flooding which destroyed
150 homes, damaged crops and killed livestock in the fertile northwestern
Zanjan province ... FULL
TEXT
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