Business
Sept 8-11, 1998 / Shahrivar 17-20, 1377
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Today
* Oil up on tentative signs of easing glut
Previous
* Oil gets a lift as US inventories ease
* Electricity reaches 575 villages this year
* OPEC close to oil cuts target in August-survey
* Japan "intends to help" Iran
* Iran proposes OPEC's MMC meet to review oil-cut compliance
* Iran curbs carpet production as prices fall
* Iranian contractors in world markets, a must
* Chicken: 900 tomans a kilo
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$ Rate
* To send money to Iran, today's rate is 600-615 tomans per
dollar, depending on how much you wish to send.
* To send money out of Iran, the rate is 620 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,
Sept 11, 1998
Oil up on tentative signs of easing glut
LONDON, Sept 11 (Reuters) - Oil prices rose on Friday as signs emerged
that the world's supply glut may not be as bad as feared. Benchmark Brent
crude futures gained 24 cents to $13.51 a barrel by 1026 GMT, posting its
second consecutive day of gains, though still over five dollars below last
September's average. Producers' hopes of incubating a price upturn were
bolstered by figures from market watchdog the International Energy Agency
(IEA) showing that world oil output fell by 1.2 million barrels per day
(bpd) in August to 73.86 million bpd... FULL
TEXT
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Thursday
Sept 10, 1998
* Oil gets a lift as US inventories ease
LONDON, Sept 10 (Reuters) - Oil prices enjoyed a rare rally on Thursday,
as a flurry of bullish headlines from the Middle East combined with confirmation
that the Atlantic hurricane season has sharply cut crude supplies to the
United States. Apart from profit-taking towards the close which wiped 20
cents off prices, crude oil had strengthened steadily through the session.
Benchmark Brent last traded 51 cents higher at $13.27 a barrel off a high
of $13.47 posted an hour earlier and still more than $6 below last year's
average ... FULL
TEXT
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* Electricity reaches 575 villages this year
TEHRAN, (Hamshahri) - Of the 1,500 villages with more than 20 families
which are due to receive electricity this year (began march 98), 575 have
so far been hooked to the national grid ... FULL
TEXT IN PERSIAN
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Wednesday
Sept 9, 1998
* OPEC close to oil cuts target in August-survey
LONDON, Sept 9 (Reuters) - OPEC in August made its best stab yet at
fulfilling targeted output cuts, taking the group's compliance with pledged
reductions to 90 percent, a Reuters survey found. The Organisation of the
Petroleum Exporting Countries sliced supply by 610,000 barrels a day in
August to 27.11 million from 27.72 million in July, the survey found ...
FULL
TEXT
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* Japan "intends to help" Iran
TEHRAN, (Tous) - Japan's foreign minister has expressed optimism regarding
developments in Iran and said that his country intends to offer help to
Iran ... FULL TEXT
IN PERSIAN
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Tuesday
Sept 8, 1998
* Iran proposes OPEC's MMC meet to review oil-cut compliance
TEHRAN, Sept 8 (Reuters) - Iran has suggested convening OPEC's Market
Monitoring Committee (MMC) before a planned meeting of the cartel to review
compliance with promised oil cuts, an Iranian oil source said on Tuesday.
``We are discussing this issue (convening the MMC) with other member-states
and no decision has been taken yet,'' the source said ... FULL
TEXT
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* Iran curbs carpet production as prices fall
TEHRAN, Iran (Reuters) - Falling world carpet prices have prompted Iran
to drop state programs to boost the production of Persian rugs, its second
hard currency earner after oil, a senior official said in remarks published
Tuesday. Hossein Soltani, a deputy head of the state Export Promotion Center,
said the move followed ``the falling trend in prices on the world carpet
market, the decrease in producers' income, and the negative effects of
excessive output and supply,'' the daily Abrar-e Eqtesadi reported ...
FULL
TEXT
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Monday
August 31, 1998
* Dollar rises above 600 tomans
TEHRAN, Aug 31 (Reuters) - The Iranian rial has fallen nearly nine percent
against the dollar on the black market in the past few weeks on high demand
for hard currencies, dealers said on Monday. Street dealers charged 6,100
rials for each dollar on Tehran's illegal but active black market, from
some 5,600 rials about a month ago ... FULL
TEXT
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* Iran spent $100mln in year for jobs,infrastructure
TEHRAN, Aug 31 (Reuters) - Iran has in the past year spent 300 billion
rials ($100 million) on more than 2,000 development projects in deprived
rural areas in an effort to create jobs and improve infrastructure, state
television said on Monday. The projects have created 2,200 jobs and already
provide services to 340,000 families, the head of rural affairs in Iran's
government was quoted by the television as saying ... FULL
TEXT
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* Boost to trade with Germany
TEHRAN, (Hamshahri) - Trade between Iran and Germany has been given
a boost as Bonn resumes insuring exports to Iran ... FULL
TEXT IN PERSIAN
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* Iran boosts sturgeon breeding to raise caviar output
TEHRAN, Aug 31 (Reuters) - Iran has raised the number of young sturgeon
it breeds for release in the Caspian Sea to 24.5 million in the year to
March, up 15.3 percent from last year, a newspaper reported on Monday.
The daily Jahan-e Eqtesad quoted the state fisheries agency as saying the
sturgeon were bred at five centres to boost the number of fish and thereby
caviar production ... FULL
TEXT
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