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May 3-7, 1999 / Ordibehesht 13-17, 1378

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Today

* OPEC basket price down by 14 cents

Previous

* BP Amoco backs Iranian route for Caspian exports
* Iran lifts economic sanctions against Argentina
* Shell still waiting for South Pars award
* Iran may have 19 mln drug addicts by 2021
* Iranian president of Qwest Communications
* Iran cuts funds to industry by 80 percent
* Iran issues new South Pars gas field tender
* Iran, Saudi Arabia sign civil aviation deal
* Turkey says U.S. still opposes Iran gas deal

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$ Rate

Updated May 7, 1999

* To send money to Iran, the rate is 800-814 tomans per dollar, depending on how much you wish to send.

* To send money out of Iran, the rate is 816 tomans per dollar.

Source: Sehaty Foreign Exchange. Preferntial rates for readers of The Iranian Times. 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: BAJ 07


Friday,
May 7, 1999

* OPEC basket price down by 14 cents

Vienna, may 6, irna -- the price of the opec basket of seven crudes increased by 12 cents and stood at dlrs 16.57 a barrel wednsday. this was down from dlrs 16.71 tuesday according to opec secretariat calculations released here on thursday ... FULL TEXT

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Thursday
May 6, 1999

* BP Amoco backs Iranian route for Caspian exports

London, may 6, irna - a top executive of bp amoco has challenged u.s. opposition to iran being used as a route to export caspian oil by warning there will be problems with costs without iranian involvement. vice-president tony hayward of the newly merged uk-u.s. group suggested wednesday that iran must be involved in the development of solutions for oil exports from the land-locked states, according to reuters ... FULL TEXT

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* Iran lifts economic sanctions against Argentina: official

BUENOS AIRES, May 5 (AFP) - Iran unilaterally lifted economic sanctions against Argentina imposed after Buenos Aires accused Tehran of being responsible for a bomb on a Jewish center here, an official here told AFP Wednesday night ... FULL TEXT

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Wednesday
May 5, 1999

* Shell still waiting for South Pars award

London, may 5, irna - royal dutch/shell denied wednesday that it had withdrawn from bidding for the fourth and fifth phases of development at iran's offshore south pars gas field. a spokeswoman from their london office told irna that the anglo-dutch firm had "not pulled out" as reported by energy compass ... FULL TEXT

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* Iran may have 19 mln drug addicts by 2021 - expert

TEHRAN, May 5 (Reuters) - There could be 19 million drug addicts in Iran among a projected population of 119 million in about two decades if a rise in drug use continues, an Iranian narcotics expert said in remarks published on Wednesday ... FULL TEXT

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Tuesday
May 4, 1999

* Iranian president of Qwest Communications

The Denver Post, May 4 - A two-month search for a new president of Qwest Communications has ended. Qwest's find, an Iranian-born, California-reared, 36-year-old telecom wunderkind, says he aims to help the Denver company revolutionize communication. Mohebbi comes to Qwest from British Telecommunications, where he heads the United Kingdom markets division, an $18 billion business unit that serves 20 million residential customers ... FULL TEXT

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* Iran cuts funds to industry by 80 percent

TEHRAN, May 4 (Reuters) - Iran, hit by low oil income, cut state hard currency allocations to industries by 80 percent in the year to March, a senior official said in remarks published on Tuesday. Deputy Industry Minister Hossein Naji said the Central Bank reduced foreign exchange allocations to industries from an annual average of $4.5 billion to just $900 million in the Iranian year that ended on March 20, the daily Abrar-e Eqtesadi reported ... FULL TEXT

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* Iran issues new South Pars gas field tender

DUBAI, May 4 (Reuters) - Iran on Tuesday issued a tender for foreign energy companies to develop phases six, seven and eight of the giant South Pars offshore gas field under one of the country's so-called buy-back investment programmes. A copy of the National Iranian Oil Company (NIOC) tender document faxed to Reuters invited international oil firms with ``technical competence, financial ability and professional skills'' interested in the project to collect tender documents from April 24 ... FULL TEXT

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Monday
May 3, 1999

* Iran, Saudi Arabia sign civil aviation deal

TEHRAN, May 2 (Reuters) - Iran and Saudi Arabia on Sunday signed an agreement increasing the number of commercial flights between the two countries, state television reported ... FULL TEXT

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* Turkey says U.S. still opposes Iran gas deal

ANKARA, May 3 (Reuters) - Turkey said on Monday the United States still opposed a 1996 agreement between Ankara and Tehran under which Turkey would buy Iranian gas from 2001 through a joint pipeline ... FULL TEXT

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$ Rate

Updated May 7

The dollar now offered at 800-814 tomans in the U.S. and 816 tomans in Iran

Sehaty Exchange (U.S.) 602-595-0777


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U.S.-Iran Business Council Forum

The Iranian Trade Association, along with our host, the Washington International Trade Association will present the First Quarterly U.S.-Iran Business Council Forum: "The Process of Engagement" on Wednesday, February 3, 1999 in Washington, DC ... MORE DETAILS


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