Business
Jan 25-29, 1999 / Bahman 5-9, 1377
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Today
* Iran recruits engineers for nuclear training in
Russia
Previous
* Petition: Call for U.S. grain sales to Iran
* Oil sideways as refiners run for cover
* Measures to encourage handicraft exports
* Speaker opposes ``enemy'' U.S. wheat
* Ireland calls for expansion of trade ties
* Iran cuts defence spending to under $1 billion
* Rial continues slide, down three pct-traders
* Iran-Ireland economic commission begins work
* Bahrain's new envoy takes up post in Iran
* Rial loses 10 percent of value
* Rial slides to new lows on inflation fears
* BP Amoco confirms big Iran oil proposal
* MPs sets food subsidies at 7.5 trillion rials
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$ Rate
Updated January 27, 1999
* To send money to Iran, the rate is 735-750 tomans per
dollar, depending on how much you wish to send.
* To send money out of Iran, the rate is 755 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,
January 29, 1999
* Iran recruits engineers for nuclear training in Russia
EHRAN, Jan 29 (AFP) - Iran is recruiting engineers to receive training
in Russia for its controversial Bushehr nuclear plant, just weeks after
Washington stepped up pressure on Moscow to end its nuclear cooperation
with Tehran. Advertisements published in the Tehran press by the Iranian
Atomic Energy Organization said a total of 225 engineers were needed with
expertise in the fields of nuclear physics, physics, mechanical engineering
and computer science ... FULL
TEXT
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Thursday
January 28, 1999
* Petition: Call for U.S. grain sales to Iran
(Iranians for International Cooperation) - URGENT ACTION: Support Senator
Craig's initiative to persuade the U.S. Treasury Department to permit grain
exports to Iran. Permitting sales of food commodities to Iran is an excellent
way to both relieve hardworking US farmers from depressed earnings and
open up healthy economic ties with our former ally Iran ... FULL TEXT
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* Oil sideways as refiners run for cover
LONDON, Jan 28 (Reuters) - Oil prices moved sideways on Thursday as
the sagging value of refined petroleum products in western markets weighed
heavily on the oversupplied market. London futures for bellwether Brent
blend crude were trading four cents a barrel down by 1600 GMT at $10.84,
well below last year's $13.34 average, a 22-year low. Dealers said that
though crude stockpiles had subsided, a stubborn overhang of oil product
inventories was forcing refinery margins into the red in western markets
... FULL
TEXT
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* New measures to encourage export of handicrafts
Tehran, Jan. 28, IRNA - Exporters of handicrafts, excluding carpets,
are exempted from committing to return any of the foreign exchange earned
from their exports to the central bank of iran (cbi) ... FULL
TEXT
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Wednesday
January 27, 1999
* Iran assembly speaker opposes ``enemy'' U.S. wheat
TEHRAN (Reuters) - Iran's conservative parliament speaker Wednesday
opposed any imports of U.S. wheat, saying Tehran should not become dependent
on its arch-enemy. But Iran's Foreign Minister referred to the possible
imports as a sign that U.S. sanctions against Iran had failed. They were
reacting to reports that U.S. officials were considering a sanction waiver
allowing $500 million of U.S. farm goods to be exported to Iran ...
FULL
TEXT
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* Ireland calls for expansion of trade ties with Iran
Tehran, Jan. 27, IRAN - irish foreign minister david andrews said here
on wednesday that since trade constitutes half of ireland's gross national
product (gnp), therefore the country is for expansion of trade ties with
iran. andrews told commerce minister mohammad shariatmadari that establishment
of a sound and continued link between iranian and irish producers, exporters
and traders can be helpful and effective in promotion of bilateral relations
... FULL TEXT
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Tuesday
January 26, 1999
* Iran cuts defence spending to under $1 billion
TEHRAN, Jan 26 (AFP) - With plunging oil prices provoking a serious
economic crisis, Iran has slightly cut its defence budgetfor the next fiscal
year beginning March 21, papers here reportedTuesday. Parliament approved
government proposals for a military budget of 2,800 billion rial -- about
933 million dollars at the official3,000 rial to the dollar exchange rate
-- against 2,900 billion (966million dollars) for the current year ...
FULL
TEXT
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* Rial continues slide, down three pct-traders
TEHRAN, Jan 26 (Reuters) - The Iranian rial has continued to slide against
hard currencies, losing another three percent against the dollar, traders
and economists said on Tuesday. On Tehran's illegal but active black market,
dealers sold dollars for about 7,750 rials each on Tuesday, compared to
7,500 rials per dollar on Monday. The rial momentarily fell to as low as
7,900 to the dollar late on Monday, dealers said ... FULL
TEXT
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* Iran-Ireland economic commission begins work
Tehran, Jan. 26, IRNA - the 3rd session of iran-ireland joint economic
commission began work here tuesday. iranian foreign minister kamal kharrazi
and irish foreign minister david andrews led their respective countries'
delegations to the session ... FULL
TEXT
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* Bahrain's new envoy takes up post in Iran
TEHRAN, Jan 26 (Reuters) - Bahrain's new ambassador to Iran presented
his credentials to the Iranian president on Tuesday, more than two years
after the two countries downgraded ties over an alleged pro-Iranian plot
to topple Bahrain's government. The official Iranian news agency IRNA said
President Mohammad Khatami told the new ambassador that Iran and Bahrain
shared common security concerns ``and this will help promote and strengthen
their links.'' ... FULL
TEXT
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Monday
January 25, 1999
* Rial loses 10 percent of value
TEHRAN, Jan 25 (AFP) - The Iranian rial continued to plunge against
major foreign currencies on Monday, losing around 10 percent of its value
in the past two days. The rial which was trading on the illegal open market
at 7,200 to the dollar on Saturday, slumped to 7,500 on Sunday and dropped
further to 7,900 on Monday ... FULL
TEXT
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* Rial slides to new lows on inflation fears
TEHRAN, Jan 25 (Reuters) - The Iranian rial has fallen to new lows against
hard currencies, losing four percent against the dollar on concern over
a new flurry of price rises, traders and economists said on Monday. On
Tehran's illegal but active black market, dealers sold dollars for 7,500
rials each on Monday, compared to about 7,200 on Saturday ... FULL
TEXT
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* BP Amoco confirms big Iran oil proposal
LONDON, Jan 25 (Reuters) - BP Amoco has confirmed that it has submitted
a technical proposal to the National Iranian Oil Company for one of the
largest fields on offer in an Iranian international tender. ``We have submitted
a technical proposal for the long-term development of the Bangestan reservoir,''
a company spokesman said on Monday ... FULL
TEXT
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* MPs sets food subsidies at 7.5 trillion rials
TEHRAN, Jan 25 (Reuters) - Iran's parliament has set food subsidies
at 7.5 trillion rials for the next Iranian year, up from 6.2 trillion rials
in the current year, state media reported on Monday. The parliament late
on Sunday approved a budget measure allowing the government to spend 7.5
trillion rials to keep down the prices of items including wheat, sugar,
tea, vegetable oil, red meat, milk, fertilisers, veterinary vaccines and
pesticides, the official news agency IRNA said... FULL
TEXT
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