Business
August 2-6, 1999 / Mordad 11-15, 1378
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Today
* Iran won't stockpile oil to deter OPEC
cheaters
* Iran bought at least 100,000 T French wheat
* Export of Czech experts to Iran cannot be prevented
Previous
* Niki president says Iran may buy U.S.
grain soon
* Make or break for Iran
* BP Amoco chemicals won't invest
* Iran seeks in foreign capital to lift steel
* Non-oil exports up
* SHI wins huge plant order from Iran
* Khatami lacks economic agenda: paper
* Iran's 1998-99 budget deficit soars
* Iran moves to free medicine imports
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$ Rate
Updated August 6, 1999
* Buying: 880-910 tomans per dollar
* Selling: 920 tomans per dollar
Source: Sehaty Foreign Exchange. Call in U.S.: 602-595-0778 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,
August 6, 1999
* Iran won't stockpile oil to deter OPEC cheaters
NEW YORK (Dow Jones)-- Iran has categorically ruled out the idea of
creating a floating stockpile of crude oil to be used to deter cheating
on output-restraint agreements by other members of OPEC, a senior Iranian
official said Thursday. H. Ghanimifard, director of international affairs
at the state-owned National Iranian Oil Corp., also said in statement that
Iran was calling for compliance with the current OPEC pact "at least
until March 2000." ... FULL
TEXT
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* Iran bought at least 100,000 T French wheat
PARIS, Aug 5 (Reuters) - Iran bought at least 100,000 tonnes of French
soft wheat this week at around $100 per tonne fob, European grain traders
said on Thursday. They said the wheat was for shipment in September, although
one source said shipment might run through the middle of October.
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* Export of Czech experts to Iran cannot be prevented
PRAGUE, Aug 3 (CTK, Czech News Agency) - Czech officials have been searching
in vain for three months for a way of preventing Czech firms from exporting
expertise and giving advice on the completion of the nuclear power plant
under construction at Bushehr in Iran , reports Czech daily Mlada fronta
Dnes today ... FULL
TEXT
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Thursday
August 5, 1999
* Niki president says Iran may buy U.S. grain soon
WASHINGTON, Aug 4 (Reuters) -Niki Trading Co. President Richard Bliss
said on Wednesday he expects Iran to buy U.S. grain in the near future.
But in the same interview, Bliss also acknowledged that Iranian officials
could ``take a little bit of time'' before deciding to allow purchases
from the United States ... FULL
TEXT
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* Make or break for Iran
July 1999 , (Gulf Business) -- Iran has been able to bankroll its economy
- and its revolution - with oil revenue. But with unstable oil prices and
a growing population hammering at the door, isolationism is a luxury the
country can ill afford. Brian Scudder reports. For the past 40 years Iran
has been dependent on oil income. The money has gone to the Central Bank,
giving us the option of closing all the doors and not being a member of
the world economic community. Now, for the first time, we are faced with
the problem that the oil industry is not enough to create employment."
... FULL
TEXT
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Wednesday
August 4, 1999
* BP Amoco chemicals won't invest in Iran under sanctions
August 4, 1999, LONDON (Dow Jones)--BP Amoco PLC (BPA) won't invest
in Iran 's petrochemicals industry until the British and U.S. governments
reach agreement on sanctions, which limit non-U.S. companies from investing
in Iran , Bryan K. Sanderson, chief executive officer of BP Amoco Chemicals,
told Dow Jones Newswires Wednesday ... FULL
TEXT
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* Iran seeks in foreign capital to lift steel
TEHRAN, Aug 4 (Reuters) - Iran is seeking $3.7 billion in foreign investment
to develop its steel industry, hoping to double annual production capacity
from its current seven million tonnes in five years, an industry official
said on Wednesday. The head of Iran's National Steel Company (INSC), Mostafa
Moazenzadeh, said his firm had put up for international tender 26 projects
to expand and modernise steel and related industries ... FULL
TEXT
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Tuesday
August 3, 1999
* Non-oil exports up
TEHRAN (Aug. 2) XINHUA - Iran's non-oil exports scored a 33 percent
increase in the first four months of the country's calendar year (starting
March 21) over the same period of last year, said a customs official on
Monday ... FULL
TEXT
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* SHI wins huge plant order from Iran
KOREA ECONOMIC WEEKLY August 5, 1999 - Samsung Heavy Ind. (SHI) has
been awarded a $200 million order to construct an offshore gas production
plant for the National Iranian Oil Company (NIOC), the Korean company announced
on July 20 ... FULL
TEXT
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* Khatami lacks economic agenda: paper
TEHRAN, Aug 2 (AFP) - Iranian President Mohammad Khatami's democratic
reforms have failed to address the nation's economy, which is enthrall
to corrupt middlemen waging "economic terrorism," a newspaper
charged Monday ... FULL
TEXT
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Monday
August 2, 1999
* Iran's 1998-99 budget deficit soars
August2, 1999 (Middle East Economic Survey) - Iran's actual budget deficit
in 1377 (year to 20 March 1999) soared to IR17,712bn ($10.1bn) from IR2,869bn
($1.6bn) in 1376 (year to 20 March 1998), according to preliminary statistics
published by the Central Bank of Iran in its latest quarterly bulletin,
Economic Trends ... FULL
TEXT
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* Iran moves to free medicine imports
TEHRAN, Aug 1 (Reuters) - Iran's parliament on Sunday gave final approval
to a bill which would partially liberalise the import of medicines into
the Islamic republic. The bill, aimed at addressing a shortage of pharmaceutical
drugs, allows exporters to use a portion of their foreign currency earnings
to import ``rare and critical'' medicines, provided that such imports are
authorised by the Health Ministry ... FULL
TEXT
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