– Senior European diplomats have claimed that France and Germany stepped up for hosting Iran dedicated SPV after the rejections by Luxembourg and Austria. In the suggested structure, if France host that SPV then a German official would be as its manager and vice versa.
– The share of oil exports in Iran FX revenues has been reduced over the past few years which shows that the economy is now less dependent on oil sales. During the first 10 months of 2018, the share of oil exports reached below 48% of total FX revenues. This figure surpassed 80% decade. The dependence of Iran economy to oil exports heralds that the nation was successful in producing industrial goods to compensate for the reducing piece of the oil pie.
– After the confusion made by the US Department of Treasury on the latest status of Iranian Banks with regards to the SDN list and the secondary sanctions (being still connected to SWIFT), an analysis has been performed by Donya-e-Bank news agency showing the map of Iranian Banks in a picture. According to the below table, almost all banks in Iran is under the SDN list, however, the ones with no “Secondary Sanctions” tick on their status are clear to deal with:
– Today and after the full snapback of US sanctions on Iran along with adding almost everything to OFAC’s SDN list, 10% of the newly sanctioned Qaed Bassir Petrochemical Co. (listed under BSRZ ticker) offered publically on Iran Fara Bourse via book building method with a price ranging from IRR 8,000-8,500 per share. The company produces ABS with a capacity of 30K tonnes per annum. BSRZ earnings jump for 128% on the H1 contrary to the previous year.
– Backing down from the zeroing Iran oil sales, the United States grants case exemptions to 8 nations with regards to their oil purchases from Iran just days away from sanctions snapback deadline. Apparently, India, Japan, South Korea, Iraq, China and Turkey are among this shortlist exempted from Iran Sanctions.
– Yesterday, the first VP of president Rouhani warned about the future of Iranian Pension Funds. According to stats, 100% of Armed Force Pension fund costs is supplied by the government, directly from the budget sources, while this figure for National Pension Fund is hovering around 70-80%. Donya-e-Eqtesad reviewed the global experience in this regard and advised the administration to take 4 precautionary measures just before the explosion:
– The first month of 1397 Q3 is now ending with s change of course between parallel investment markets of Iran Economy. After the unexpected and truth be told unproductive advances on FX and Gold coins markets during the last couple of months, now analyses show that the stock market precessed other rivals and delivered handsome returns over Sep/Nov 2018. Tehran Stock Exchange has yielded 17% while USD/IRR stamped -3.4% (a bearish course after 15 months!) and gold coins performed only -2.4%.
– On Monday, Oct 25, 2018, 10% of Avicenna pharmaceutical company offers publically for the first time on Iran Fara Bourse. The company has 35 mn shares and each individual and institutional investors can only place orders for 700 shares through book building method. The price range has been anticipated to be between IRR 3,000 and 3,300. This pharma producer has a development plant to go deep into coated dosage form drugs which are the baseline for anti-cancer pharmaceuticals.
– Reuters reports that IMF released its latest research on the global economy and of course Iran’s situation. According to news, IMF reduced Iran Economy growth rate to -1.5% for the year 2018 (previously was +4.4%!) and also predicted that Iran will face with an inflation rate of 29.6%. The unemployment rate would reach 12.8 as well which shows 1.1% growth.
– Kish Parsian E-commerce company is to offer its shares publically on Iran Fara Bourse on Saturday, September 22, 2018. This IPO is for 10% of the company equal 40 mn shares via book building method with a price range of IRR 1,600 to 1,700. The major shareholder, Parsian Bank Data Processing Group, has committed to offering another 10% of its shares within a 6 month period from the IPO date. Each investor, whether individual or institutional, is entitled to 800 shares only.