email us

US Transcom
US Transcom

Shahin & Sepehr

 

Sehaty Foreign Exchange

Advertise with The Iranian

Business
June 7-June 11, 1999 / Khordad 17-21, 1378

News | Sports | Arts | Rights | Community

Today

* U.S. Administration pressured on food sanctions
* Moody's rates Iran foreign currency bonds

Previous

* Iran Air cancels Saudi flights
* Azerbaijan: U.S. plan for Caspian pipeline makes little progress
* Oil producers plan to keep $18-$20 Brent range
* U.S. aide promises simple rules for Iran grain sales
* Majlis postpones examination of labour law reform bill
* Tehran's mayor wants to attract foreign capital
* Iran approves bill on easing labor laws
* Low oil price hit Iran growth to March 99
* Iran says two-month non-oil exports up 47.7 pct
* Drought to hit barley output

News | Sports | Arts | Rights | Community


Monday | Tuesday | Wednesday | Thursday | Friday


Get Persian fonts from Hamshahri or Payvand


email us


Iranian Trade Association


$ Rate

Updated June 10, 1999

* To send money to Iran, the rate is 840-875 tomans per dollar, depending on how much you wish to send.

* To send money out of Iran, the rate is 880 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,
June 11, 1999

* U.S. Administration pressured on food sanctions

10 June 1999 (RFE/RL) -- Members of the U.S. Congress pressured the administration of President Bill Clinton on Wednesday to help finance sales of food and medicine to nations that have been subject to U.S. embargoes. In a hearing of the House of Representatives (lower chamber) Agriculture Committee, several congressmen urged the administration to provide U.S. official financing for food sales to embargoed countries like Iran. Such a move would go beyond President Clinton's recent policy decision of simply allowing exports of food and medical items on humanitarian grounds ... FULL TEXT

Go to top

* Moody's rates Iran foreign currency bonds

NEW YORK, June 10 (Moody's press release) - Moody's assigned a B2 foreign currency ceiling for bonds and notes to the Islamic Republic of Iran and a B3 ceiling for foreign currency bank deposits. The long-term domestic currency bonds issued by the government were rated at Ba2. The B2 ceiling reflects a weak economic structure that is prone to balance of payments crisis when oil prices collapse ... FULL TEXT

Go to top


Thursday
June 10, 1999

* Iran Air cancels Saudi flights

DUBAI, United Arab Emirates (AP) -- Iran's national carrier has canceled flights to Saudi Arabia because the kingdom has apparently revoked landing rights, the Iranian news agency reported Wednesday. Iran Air ``canceled its flights to the western Saudi city of Jiddah after Saudi authorities refused to grant the airline permission to fly to the country,'' the Islamic Republic News Agency said ... FULL TEXT

Go to top

* Azerbaijan: U.S. plan for Caspian pipeline makes little progress

Boston, 9 June 1999 (RFE/RL) - Despite numerous agreements, there have been few real signs of progress for a U.S.-backed plan to build a gas pipeline across the Caspian Sea, analysts say. With the passage of time, the risk may also increase that conditions will not be met for building the trans-Caspian gas pipeline, which is one of the pillars of U.S. policy for the region ... FULL TEXT

Go to top

* Oil producers plan to keep $18-$20 Brent range

LONDON, June 10 (Reuters) - World oil exporters aim to stabilise volatile petroleum prices by intervening in the market if it strays too low or too high, a senior Gulf official said on Thursday. ``If the prices move ... then we will decide whether it is necessary to intervene but we will not jump in immediately. The concept is to have a stable price -- not too high or too low,'' said the official who is familiar with Saudi government policy ... FULL TEXT

Go to top


Wednesday
June 9, 1999

* U.S. aide promises simple rules for Iran grain sales

WASHINGTON, June 9 (Reuters) - The Clinton administration hopes to issue rules covering the sale of U.S. food to Iran that are simple for exporters to use, a top U.S. State Department official said on Wednesday. Stuart Eizenstat, Undersecretary of State for Economic and Business Affairs, said the new rules should be out by the end of the month. They will be as ``efficient and nonbureaucratic as possible'' so that a lengthy government approval process does not block sales, he told the House Agriculture Committee ... FULL TEXT

Go to top

* Majlis postpones examination of labour law reform bill

TEHRAN, June 9 (AFP) - Iran's conservative-dominated parliament Wednesday postponed detailed discussion of a controversial bill aimed at easing labour legislation for small businesses. Under the bill, small businesses with three employees or less will be exempt from the current legislation for six years ... FULL TEXT

Go to top


Tuesday
June 8, 1999

* Tehran's mayor wants to attract foreign capital

TEHRAN, June 8 (AFP) - Tehran's new mayor Morteza Alviri said on Tuesday he wanted to attract private capital, both Iranian and foreign, to tackle the city's twin problems of pollution and traffic. "We must attract domestic and foreign capital from private sectors for our urban projects," Alviri said in an official ceremony to mark his assumption of office after his appointment last week ... FULL TEXT

Go to top

* Iran approves bill on easing labor laws

TEHRAN, June 8 (Reuters) - Iran's parliament approved a bill on Tuesday to ease labour laws as part of a drive to encourage investment and improve the country's chronic unemployment problem, but the assembly must still work out the final details. The law, passed by a narrow margin of 107 to 93, exempts firms with three or less employees from labour regulations for six years ... FULL TEXT

Go to top


Monday
June 7, 1999

* Low oil price hit Iran growth to March 99

BASLE, Switzerland, June 5 (Reuters) - Iran's economic growth slowed to between 1.7 and two percent in the year to March 1999 as oil prices slumped, Iran's central bank governor said on Saturday. This reflected an ``illness'' in the oil-dependent economy, Governor Mohsen Nourbakhsh told Reuters in an interview ... FULL TEXT

Go to top

* Iran says two-month non-oil exports up 47.7 pct

TEHRAN, June 5 (Reuters) - The value of Iran's non-oil exports rose by 47.7 percent in the first two months of the Iranian year to $526 million, the official news agency IRNA reported. ``Export of non-oil commodities shows an increase of 86.16 percent growth weight wise and 47.7 percent value wise,'' it said, quoting a report on Friday by Iran's customs department on non-oil exports from March 21 to May 21 ... FULL TEXT

Go to top

* Drought to hit barley output

TEHRAN, June 6 (Reuters) - Iran produced 3.3 million tonnes of barley in the Iranian year to March, but production in the current year is severely threatened by drought, a newspaper quoted an official as saying on Sunday. ``Last year, 3.3 million tonnes of barley were produced from 1.8 million hectars of land under cultivation. But this year, because of drought, we expect Iran will face a major reduction in production,'' Abrar-e Eqtesadi daily quoted Kamal Zabihi, the head of the agriculture ministry's fodder branch, as saying

Go to top


Copyright © Abadan Publishing Co. All Rights Reserved. May not be duplicated or distributed in any form

 MIS Internet Services

Web Site Design by
Multimedia Internet Services, Inc

 GPG Internet server

Internet server by
Global Publishing Group.

$ Rate

Updated June 10

The dollar now offered at 840-875 tomans in the U.S. and 880 tomans in Iran

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


Tehran Stock Exchange

Daily trade table


Iranian Business Sites

Links index at Neda Rayaneh


For the latest news visit
THE IRANIAN
Newsroom


email us