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August 2-6, 1999 / Mordad 11-15, 1378

News | Sports | Arts | Rights | Community

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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Iranian Trade Association


$ 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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$ Rate

Updated August 6

Buying: 880-910 tomans per dollar

Selling: 920 tomans per dollar

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


Forum

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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