Business
October 9-13, 2000 / Mehr 18-22, 1379
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BUSINESS NEWS INDEX
Friday,
October 13, 2000
Oil prices tick down
SINGAPORE (Reuters) - Oil prices dipped just below 10-year peaks on
Friday as the market warily watches developments in the Middle East where
Israeli military attacks on Palestinian-ruled cities threaten the peace
process. U.S. benchmark light crude futures leapt more than $3.70 to a
peak at $37 a barrel as news of the violence filtered through on Thursday
before retracing back to settle in New York dealings at $36.06, marking
a gain of $2.81 >>>
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INDEX
INDEX
* Oil prices tick down
* Oil surges on Mideast violence
* German tyre maker Continental teams up with KTRC in Iran
* MPs approve extra spending after oil windfall
* Majlis OKs Early Use Of Forex Deposit Acct
* Drought causes 3.4 billion dollars in damages: government
* Italy to increase insurance cover for Iran
* Iran looking for foreign partners for LNG projects
* Japan agrees to 69 million dollar loan for Iran suspended
since 1993
* Overproduction could hurt oil prices in 2001-Iran
* Khatami names new PTT boss to deal with woeful phones
* Russia to export less caviar
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Thursday
October 12, 2000
Oil surges on Mideast violence
NEW YORK (Reuters) - U.S. oil prices hurtled higher on Thursday as fears
grew that rising violence in the Middle East could hit the region's oil
output at a time when U.S. energy supplies are running perilously low.
November crude on the New York Mercantile Exchange (NYMEX) closed up $2.81
at $36.06 a barrel after Israeli forces attacked Palestinian President
Yasser Arafat's West Bank headquarters and an explosion holed a U.S. Navy
destroyer in Yemen >>>
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German tyre maker Continental teams up with KTRC in Iran
HANOVER, Germany, Oct 12 (AFP) - Continental, the German maker of tyres
and auto parts, said on Thursday that it was teaming up with the leader
in the Iranian tyre market, Kerman Tire and Rubber Company (KTRC), to boost
its presence in the region. The two partners signed an agreement at the
beginning of October, whereby KTRC would manufacture tyres in Iran under
licence for Continental >>>
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Wednesday
October 11, 2000
MPs approve extra spending after oil windfall
TEHRAN, Oct 10 (Reuters) - Iran 's parliament on Tuesday approved a
government plan to use about $4 billion in extra oil income to help revive
the stagnant economy. State radio said deputies passed a budget amendment
allowing the government to spend half of Iran 's extra income from robust
oil prices to fund development projects and create jobs >>>
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Majlis OKs Early Use Of Forex Deposit Acct
TEHRAN -(Dow Jones)- The Iranian parliament gave an early approval Tuesday
for the government to set up a foreign-exchange deposit account this year,
from which it can draw up to 50% to fund employment and export oriented
projects, Iranian state radio reported. Tuesday's move came earlier than
expected and was effectively an amendment to the five-year development
plan law for the period March 2000-2005, which had originally stipulated
that the deposit account come into effect in 2001 and be used in 2002 >>>
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Tuesday
October 10, 2000
Drought causes 3.4 billion dollars in damages: government
TEHRAN, Oct 10 (AFP) - The drought ravaging Iran has caused 3.4 billion
dollars of damage, an interior ministry official said Monday. "The
principal losses have been in agriculture and livestock," said Ahmed
Khoram, the head of Iran's natural disasters commission >>>
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Italy to increase insurance cover for Iran
TEHRAN, Oct 10 Asia Pulse - Italian Deputy Foreign Minister Ugo Intini
announced here that he would strive to increase insurance cover for Iran,
reasoning that with the growth in bilateral economic cooperation the insurance
ceiling cannot remain unchanged. In a meeting with the Mines and Metals
Minister Eshaq Jahangiri on the sidelines of the 26th Tehran International
Trade Fair on Saturday, he stressed the need for using other initiatives
such as Iran's export of such products as copper and aluminum in exchange
for the goods it imports from Italy >>>
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Iran looking for foreign partners for LNG projects
DOHA, Oct 9 (Reuters) - Iran is looking for foreign partners to set
up two major liquefied natural gas (LNG) projects by 2005, a senior Iranian
official said on Monday. "We are looking for two major international
groups which can provide modern technology and take charge of marketing
and shipping," said Ahmed Rahgozar, deputy managing director of international
affairs at National Iranian Oil Company (NIOC) >>>
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Monday
October 9, 2000
Japan agrees to 69 million dollar loan for Iran suspended since 1993
TEHRAN, Oct 7 (AFP) - Japan and Iran exchanged notes here Saturday for
Tokyo to conclude a major low-interest loan to Tehran for the construction
of a hydroelectric plant, that was suspended more than seven years ago.
Embassy officials here said Japan had committed itself to providing 7.5
billion yen (68.8 million dollars) for the plant at the Number 4 Karun
dam in southwestern Iran to finish off the loan payments
>>> FULL TEXT
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Overproduction could hurt oil prices in 2001-Iran
TEHRAN, Oct 9 (Reuters) - Iran's OPEC governor said on Monday that current
overproduction could hurt crude oil prices in the second and third quarters
of 2001. ``If the current supply-demand balance stays without change, prices
could fall from next spring due to overproduction,'' Hossein Kazempour
Ardebili told Reuters on the sidelines of a seminar in the oil ministry's
research institute >>>
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Khatami names new PTT boss to deal with woeful phones
TEHRAN, Oct 7 (AFP) - President Mohammad Khatami on Saturday named a
new interim post and telecoms minister after his first choice for the troubled
ministry was rejected by the reform-majority parliament. State radio said
Khatami had tapped Abdollah Mirtaheri to head the embattled ministry, which
has been buffeted by widespread unhappiness with the nation's sometimes
unreliable telephone and mobile phone service >>>
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Russia to export less caviar
MOSCOW (AP) - Russia, one of the world's largest caviar producers, will
export 60 percent less black caviar this year than in 1999, the State Fisheries
Committee said Monday. No more than 44 tons of black caviar will be shipped
out of the country this year, said Sergei Smirnov, a spokesman for the
committee >>>
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