Business
May 31-June 4, 1999 / Khordad 10-14, 1378
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Today
* Iran Air shifting away from Boeing
* UK sends safety alert over offshore oil valves
Previous
* Khatami urges resolve to improve ``ill''
economy
* Chinese back in running for Neka pipeline
* Iran OPEC governor says too soon to review cuts
* Oil slumps as Iraq signals higher exports
* Rial slide accelerates, loses 3.5 pct vs dollar
* U.S. dollar at all-time high on Iranian black market
* Tehran told to cut water use amid drought
* Iran free zone chief hopeful on new laws
* Iran says tea output 66,500 tonnes in year to March
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$ Rate
Updated June 4, 1999
* To send money to Iran, the rate is 825-855 tomans per
dollar, depending on how much you wish to send.
* To send money out of Iran, the rate is 870 tomans per
dollar.
Source: Sehaty Foreign Exchange. Preferntial rates for readers of The
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Friday,
June 4, 1999
* Iran Air shifting away from Boeing
June 4, 1999 (Middle East Economic Digest) - The Iranian aviation industry
is on the verge of a long-term shift away from US to European aircraft.
If national carrier Iran Air succeeds in its plans, the European consortium
Airbus Industrie could receive orders for more than 20 aircraft in the
coming years. Iran has found it impossible to renew its US-made fleet of
Boeings since the 1979 revolution and the main operator, Iran Air, has
had frequent problems even obtaining spare parts ... FULL
TEXT
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* UK sends safety alert over offshore oil valves
LONDON, June 4 (Reuters) - Britain has alerted oil industry and labour
groups about up to 300 potentially faulty values used in offshore production
around the world, a safety watchdog said on Friday. Healthy and Safety
Executive spokesman Mark Wheeler said 200 to 300 possibly defective ball
values had been supplied by a British-based company to customers in Iran,
Norway, Canada, Qatar and Australia.... FULL
TEXT
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Thursday
June 3, 1999
* Khatami urges resolve to improve ``ill'' economy
TEHRAN, June 2 (Reuters) - Iranian President Mohammad Khatami called
on Wednesday for national resolve to tackle his country's ``ill'' economy,
as officials appeared confused and divided over policy direction. ``We
have to accept the fact that our economy is ill,'' Khatami said in a speech
before inaugurating an exports promotion centre. ``Our economy needs a
serious and fundamental restructuring. We need national resolve to boost
exports,'' he declared ... FULL
TEXT
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* Chinese back in running for Neka pipeline
June 4, 1999 , (Middle East Economic Digest) - The local Iran Power
Plant Projects Management Company (Mapna) is in the final stages of negotiation
with a Chinese consortium to finalise a contract for the construction of
a 400-kilometre crude oil pipeline from the Caspian Sea to Tehran. An agreement
on the $350 million project is expected by the end of June, National Iranian
Oil Company (NIOC) officials say ... FULL
TEXT
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Wednesday
June 2, 1999
* Iran OPEC governor says too soon to review cuts
DUBAI, June 2 (Reuters) - Iran's OPEC governor said on Wednesday it
was too early to review oil production cuts agreed in a March deal designed
to boost prices. ``It is premature to talk about touching the level of
production,'' Hossein Kazempour Ardebili told Reuters by telephone from
Tehran ... FULL
TEXT
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Tuesday
June 1, 1999
* Oil slumps as Iraq signals higher exports
LONDON, June 1 (Reuters) - World oil prices fell sharply on Tuesday
after Iraq said it would be able to raise crude exports under a new phase
of the United Nations oil-for-food exchange. Benchmark North Sea Brent
blend crude oil futures for July delivery fell 65 cents to $14.55 a barrel
following the announcement on Monday by the Iraqi oil minister ... FULL
TEXT
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Monday
May 31, 1999
* Rial slide accelerates, loses 3.5 pct vs dollar
TEHRAN, May 30 (Reuters) - The downward slide in the Iranian rial gathered
pace this weekend, and on Sunday it had lost 3.5 percent against the dollar
compared with late last week, traders said. On Tehran's illegal but active
black market, the dollar was trading at 8,700 rials, compared with about
8,400 ... FULL
TEXT
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* U.S. dollar at all-time high on Iranian black market
TEHRAN, May 30 (AFP) - The US dollar reached a new high on the Iranian
black market Sunday against the national currency, the rial. The dollar
rose from 8,300 to 8,700 rials early Sunday on the clandestine market ...
FULL TEXT
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* Tehran told to cut water use amid drought
TEHRAN, May 30 (Reuters) - Tehran water authorities have warned residents
to rein in consumption of water or risk a cut in their supplies, as the
country faces its worst drought in 30 years, newspapers reported on Sunday.
``About 50 percent of the water currently used is needlessly wasted,''
the head of northern Tehran's water board, Abdolmahmoud Rahimi, was quoted
as saying by the paper Salam ... FULL
TEXT
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* Iran free zone chief hopeful on new laws
TEHRAN, May 31 (Reuters) - The head of Iran's free trade zones said
on Monday he hoped the expected approval next month of legislation guaranteeing
foreign investment against seizure would attract more investors from abroad
... FULL
TEXT
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* Iran says tea output 66,500 tonnes in year to March
TEHRAN, May 31 (Reuters) - Iran produced 66,500 tonnes of tea in the
year to March and earned $10 million from exports, a senior official said
in a report published on Monday ... FULL
TEXT
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