Business
July 17-21, 2000 / Tir 27-31, 1379
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BUSINESS NEWS INDEX
Friday,
July 21, 2000
Tehran to gain more German cover
Middle East Economic Diges July 21, 2000 -- Germany plans to raise export
credit cover to DM 1,000 million ($485 million) and may offer more help
to German firms taking part in big projects. Germany's improved terms for
trade and project finance were announced on 10 July during President Khatami's
visit there (see Seven Days >>>
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Kuwait welcomes drinking water offer from Iran
KUWAIT CITY, July 21 (AFP) - Kuwait has welcomed an Iranian offer to
supply up to 200 million gallons (760 million litres) a day of drinking
water from the river Karun which flows by Abadan in south-west Iran, a
newspaper reported Friday. "Kuwait has no objection to the offer,
provided the price of the water is right," Electricity and Water Minister
Adel al-Sabih told Al-Rai Al-Aam daily >>>
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INDEX
* Tehran to gain more German cover
* Kuwait welcomes drinking water offer from Iran
* US Cuts Funding to World Bank Over Support to Iran
* Iranian 'tollgates' cash in on Iraqi oil smuggling
* U.S. lawmakers seek repeal of Iran sanctions
* Iran, Qatar eye more trade
* Iran, Qatar eye more trade, economic
relations
* German Labour Minister to arrive in Tehran
* Iran says OPEC will hike output if...
* Oil up as OPEC puts extra crude in doubt
* Iran sees wheat production rising despite drought
* Credit institution to become first "private bank"
* Kuwait's oil minister to visit Iran
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Thursday
July 20, 2000
US Cuts Funding to World Bank Over Support to Iran
Washington, DC (African Eye News Service, July 19, 2000) - African HIV/Aids
programmes have benefited from a US House of Representatives amendment
to cut funding to the World Bank in protest against its resumed funding
to Iran. The cut in funding comes after the World Bank announced in May
it would resume lending US$231 million to Iran, which has been widely condemned
for its prosecution of 10 Jews charged with spying >>>
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Iranian 'tollgates' cash in on Iraqi oil smuggling
By Scott Peterson, The Christian Science Monitor, July 20, 2000, TEHRAN,
IRAN -- Iran's flip-flopping "policy" toward Iraqi oil smuggling
- in violation of United Nations sanctions - is proving enigmatic even
in diplomatic circles. American officials say that after two months of
strictly enforcing the UN embargo, Iran's Revolutionary Guards are now
allowing, for pay, scores of sanction-busters to use Iranian waters to
evade American and other craft monitoring the area. "Nobody really
knows who is in charge," says Mohammad Hadi Semati, a political scientist
at the University of Tehran >>>
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Wednesday
July 19, 2000
U.S. lawmakers seek repeal of Iran sanctions unless Jews freed
By Amy Strahan
Bloomberg News, July 17, Washington -- Two Democrats in the U.S. House
said they will push to reverse a Clinton administration decision to ease
trade sanctions on Iran's reformist government unless Tehran releases 10
Jews convicted of spying for the U.S. and Israel.
Representative Bradley Sherman of California told a rally near the White
House that he will introduce legislation in few days to stop the import
of fruit, rugs, pistachios and caviar from Iran. Representative Robert
Wexler of Florida, Sherman's colleague on the House International Relations
Committee, said he will back the move >>>
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Iran, Qatar eye more trade, economic relations
TEHRAN, July 18 (Reuters) - Iran and the Gulf Arab state of Qatar agreed
on Tuesday to develop trade and economic ties by avoiding double taxation
and promoting joint investment, the Iranian news agency IRNA reported.
Other agreements, signed at the end of a visit by the Qatari Emir Sheikh
Hamad bin Khalifa al-Thani to Tehran, called for more technical, medical
and cultural exchanges, IRNA said >>>
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Tuesday
July 18, 2000
German Labour Minister to arrive in Tehran Friday
TEHRAN, July 18 (AFP) - German Labour Minister Walter Riester will arrive
in Tehran Friday for a three-day official visit, the German embassy in
Tehran told AFP Tuesday. The German official is expected to be accompanied
by a small seven or eight-man delegation for talks with Iranian officials,
including his Iranian counterpart, Hossein Kamali >>>
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Iran says OPEC will hike output next week if prices stay high
TEHRAN, July 18 (AFP) - Iran said Tuesday that OPEC will increase production
levels if prices stay above 28 dollars a barrel over the next seven working
days, Oil Minister Bijan Namdar-Zangeneh said Tuesday. "It has been
agreed that there will be an increase in production if prices remain high,
that is to say above 28 dollars a barrel, over the next seven (working)
days," he said >>>
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Oil up as OPEC puts extra crude in doubt
LONDON (Reuters) - World oil markets were thrown into new confusion
on Tuesday after OPEC headquarters said prices had fallen below the cartel's
$28 threshold for releasing extra crude. OPEC's Vienna secretariat said
the price for a basket of its crudes, the benchmark for triggering more
supply, fell to $27.46 a barrel on Monday >>>
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Iran sees wheat production rising despite drought
TEHRAN, July 17 (Reuters) - Iran expects a modest increase in wheat
production to 9.25 million tonnes in the year begun in March despite a
severe drought in much of the country, an agriculture official was quoted
on Monday as saying. Ali-Bakhsh Dehqani, director of the agriculture ministry's
grains department, told the daily newspaper Hayat-e No that Iran still
needed to import 4.5 to 5.0 million tonnes of wheat in the year which began
on March 20 >>>
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Monday
July 17, 2000
Credit institution prepares to become first "private bank"
TEHRAN, July 16 (AFP) - Iran's Karafarinan credit institution is set
to become in four months time the first private bank in the country since
the Islamic revolution of 1979, its director Parviz Aghili told AFP Sunday.
The institution, which is not the only one with the same goal, hopes "finally"
to take advantage of a 1993 law allowing private banks in the country >>> FULL
TEXT
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Kuwait's oil minister to visit Iran next week for border talks
KUWAIT CITY, July 17 (AFP) - Kuwait's Oil Minister Sheikh Saud Nasser
al-Sabah is to visit Iran on July 24 for talks on demarcating a maritime
area rich in gas and oil, the emirate's foreign minister said Monday. "This
issue (border demarcation) will be part of talks with his Iranian counterpart,"
Sheikh Sabah al-Ahmad al-Sabah said, quoted in Al-Watan newspaper >>> FULL TEXT
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