Financial Tribune

2021-12-13 01:12:29 Open / Comment

2021-12-12 12:30:54 NIORDC Revenues to Rise by $2b p.a.

A nationwide scheme to convert 1.2 million gasoline-powered public transport and commercial vehicles to compressed natural gas hybrids will help reduce gasoline consumption by 10 million liters per day, director of the National Iranian Oil Refining and Distribution Company said.

“Given the fact that Persian Gulf free-on-board gasoline prices stand at 60 cents per liter, the saved volume 10 million liters is expected to add $2 billion to NIORDC’s annual revenue,” Jalil Salari was also quoted as saying by the Oil Ministry’s news service.

Since the launch of the plan in 2020, about 200,000 vehicles have been retrofitted and the rest are on the waiting list, he added.
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2021-12-12 12:27:31 2022-23 Draft Budget Appears Promising for Crisis-Hit Bourse

A look at the government’s proposed budget for March 2022-23 shows if passed it should be propitious for the struggling stock market.

The budget draft seems advantageous for the bourse in six ways, according to a review by the Securities and Exchange News Agency.

Concerns about a possibility of higher prices of feedstock for petrochemical companies eased after it was reported that the government would continue with this year’s price list for feedstock that have a considerable bearing on margins of petrochemical firms and by extension on the share prices.
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2021-12-12 12:26:02 Tehran Definitely After Good Agreement in Nuclear Talks
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2021-12-12 12:23:45 Regulator Prepares New System for PSP Ratings

Shaparak Company, affiliated to the Central Bank of Iran and in charge of supervising the domestic payment network, is working on a new model for assessing and rating payment service providers (PSPs).

According to Kazem Dehqan, the company CEO, it is rethinking the existing system of rating PSPs. Two phases of the plan to develop the new model are finalized, the company's website quoted him as saying on Saturday.

"Unlike the existing system, wherein PSPs are ranked based on the total transactions and their collective value, the new approach incorporates a wider range of factors," he said, without providing details.
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2021-12-12 12:20:45 ​​Export of Minerals, Mining Products Exceeds $7 Billion in Seven Months

Atotal of 31.08 million tons of minerals and mining products worth $7.06 billion were exported from Iran in the current fiscal year’s first seven months (March 21-Oct. 22).

According to the Iranian Mines and Mining Industries Development and Renovation Organization, this registered a 9% and 105% year-on-year growth in weight and value respectively.

Steel and related products topped the list of exports in terms of value with $4.05 billion, followed by copper and related products with $967.35 million and aluminum and related products with $390.06 million.
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2021-12-12 00:07:41 Open / Comment

2021-12-11 12:25:13 ‘Communications’ Inflation Reaches 12.6 Percent


The average goods and services Consumer Price Index of “communications” in the 12-month period ending Nov. 21, which marks the end of the eighth Iranian month of fiscal 2021-22, increased by 12.6% compared with the corresponding period of the year before.

The CPI of the group stood at 184.2 in the month to Nov. 21, indicating a 1% rise compared with the month before.

The index, with a coefficient of 2.87%, registered a year-on-year increase of 1.2%.
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2021-12-11 12:21:49 Tehran Stands Firm on Demands in Negotiations on JCPOA Revival
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2021-12-11 12:20:06 Energy Ministry: Int’l Expertise Needed to Alleviate Water Crisis


Tehran is keen on using international expertise and cooperating with global organizations to address its worsening water crisis, the energy minister’s advisor for international affairs said.

Mohammad Ali Farahnakian made the statement in a meeting with Martin Fisher, operations manager of the International Federation of Red Cross and Red Crescent Societies in Iran, in Tehran on Thursday, IRNA reported.

“The two sides discussed ways of developing strategies to minimize consumption in water-intensive sectors, such as agriculture and industries, limit extraction of water from underground resources and curb the growing menace of land subsidence,” he said.
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