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Business
Nov 2-6, 1998 / Aban 11-15, 1377

News | Sports | Arts | Rights | Community

Today

* Russia sees catastrophic drop in Caspian sturgeon
* Turks threaten strait fee rise,unveil new measures
* OPEC trims October output to 27.06 mbpd-survey

Previous

* U.S. govt rejects Iran oil deal, signals tough stance * Iran to push for share of Caspian export routes
* 14 foreign banks show interest in free trade zones
* Iran to award Caspian pipeline tender by end November
* Skoda says Czech-Iran tension to hit sales
* Iran to export... flowers
* New tax plan introduced
* Mohammad Hashemi on economic crimes
* Iran attacks sanctions, says best route for Caspian oil
* Ukraine holds to decision against Iran turbine sale

News | Sports | Arts | Rights | Community


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Iranian Trade Association


$ Rate

Updated November 6, 1998

* To send money to Iran, the rate is 660-680 tomans per dollar, depending on how much you wish to send.

* To send money out of Iran, the rate is 685 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,
Nov 6, 1998

* Russia sees catastrophic drop in Caspian sturgeon

MOSCOW, Nov 6 (Reuters) - Stocks of caviar-producing sturgeon in the Caspian Sea are falling ``catastrophically,'' victims of over-fishing, poaching and pollution, Russian officials said on Friday. Russia's quota for sturgeon catches in the Caspian is expected to fall next year to 700 tonnes from 1,200 tonnes this year, Interfax news agency quoted the state fisheries committee as saying... FULL TEXT

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* Turks threaten strait fee rise,unveil new measures

ISTANBUL, Nov 6 (Reuters) - Turkey said on Friday it may raise transit fees five-fold for use of its straits by tankers if Western companies choose them as the outlet of main Caspian oil instead of a pipeline proposed to by-pass the straits. Turkey opposes plans by Western companies and Russia to pump oil from Caspian oilfields through existing pipelines in Russia and Georgia, which would require use of the straits for the oil to reach Western markets... FULL TEXT

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* OPEC trims October output to 27.06 mbpd-survey

LONDON, Nov 6 (Reuters) - OPEC oil supply eased slightly in October, maintaining the cartel's good record of compliance with agreed output cuts. Oil prices again failed to react favourably for the producers who for the time being appear to have ruled out further cuts beyond those agreed earlier this year... FULL TEXT

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Thursday
Nov 5, 1998

* U.S. govt rejects Iran oil deal, signals tough stance

WASHINGTON, Nov 5 (Reuters) - The U.S. government has rejected one of two requests it was considering from American companies looking for permission to do oil-swap deals with Iran. The rejection -- together with remarks earlier this week by President Clinton's advisor on Caspian energy policy in which he said such oil-swap deals might detour oil from the U.S.'s preferred trade route via Azerbaijan and Turkey -- suggests the administration's policy is still firmly against allowing U.S. companies to deal with Iran ... FULL TEXT

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* Iran to push for share of Caspian export routes

TEHRAN, Nov 5 (Reuters) - Iran, seeking a share of the Caspian Sea riches, will on Saturday promote its territory as the most viable export route from the prized energy frontier when foreign oil firms gather in Tehran for a conference. ``We want to show that Iran is the best outlet for Caspian oil. It makes the most economic sense and Iran would be the shortest and quickest way to get the oil to the market,'' an Iranian oil official told Reuters... FULL TEXT

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* 14 foreign banks show interest in free trade zones

Tehran, (HAMSHAHRI) - President Khatami's moderate policies have attracted foreign companies, including 14 banks, to Iran's free trade zones, according to the zones' director... FULL TEXT IN PERSIAN

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Wednesday
Nov 4, 1998

* Iran to award Caspian pipeline tender by end November

LONDON, Nov 4 (Reuters) - Iran will award its tender to build a new pipeline from the Caspian Sea to its northern refineries by the end of November, Deputy Minister for Caspian Oil and Gas Affairs Ali Majedi told Reuters on Wednesday. ``We have had 13 proposals including submissions from Chinese, Italian and German companies and we are going to make a decision this month,'' he said on the fringe of an industry conference ... FULL TEXT

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* Skoda says Czech-Iran tension to hit sales

PRAGUE, Nov 4 (Reuters) - Troubled Czech engineering group Skoda a.s. said on Wednesday that diplomatic tension between the Czech Republic and Iran may cost it a direct sales loss of up to two billion Czech crowns ($68.47 million). Iran recalled its ambassador from the Czech Republic on Tuesday and has limited trade ties to protest against a new Farsi-language service of U.S.-funded Radio Free Europe/Radio Liberty to the Islamic republic from Prague... FULL TEXT

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* Iran to export... flowers

Tehran, (HAMSHAHRI) - Iran's largest flower warehouse has been inaugurated in southern Tehran, enabling the export of 1.5 million flowers per day ... FULL TEXT IN PERSIAN

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* New tax plan introduced

Tehran, (HAMSHAHRI) - The government will introduce a new plan to the Majlis in the latest fight against private-sector tax-dodgers ... FULL TEXT IN PERSIAN

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Tuesday
November 3, 1998

* Mohammad Hashemi on economic crimes

Tehran, (HAMSHAHRI) - Vice President Mohammad Hashemi has expressed concern over the high number of economic crimes. Report includes figures... FULL TEXT IN PERSIAN

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Monday
November 2, 1998

* Iran attacks sanctions, says best route for Caspian oil

CAPE TOWN, Oct 31 (Reuters) - Iran on Saturday renewed its claim to be the best export route for Caspian oil and gas, saying sanctions were delaying regional energy development by promoting unviable pipeline routes. ``All sanctions on crude oil swaps, investments and political considerations on pipelines should be cleared so that the region could realise all its potentials,'' said Iranian Oil Minister Bijan Zanganeh ... FULL TEXT

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