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Author: Navid Kalhor

Home/Articles Posted by Navid Kalhor
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Inflation set to rebound

by Navid Kalhordate: 13 September 2016in News & Reports No Comments

Inflation set to rebound

Iran’s inflation will bounce back to 12-13% in the next fiscal year (starting March 21, 2017) due to the high monetary expansion rate, says economist Saeed Leylaz.

The government did not manage to bring down money supply growth rate below 30% per year, which is alarming, he noted.

“Until further notice, there is the danger of hitting double digit inflation next year,” Leylaz said.

Inflation dropped to 9.7% in recent months. It was the first time inflation fell below the 10% mark in 26 years.

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The-Central-Depository-System

Easement of Presence for Foreign Investors in the Capital Market of Iran

by Navid Kalhordate: 6 September 2016in News & Reports No Comments

Market News

Easement of Presence for Foreign Investors in the Capital Market of Iran

CSDI is planning to deploy a model to alleviate the concern of international investors for the brokers` settlement risk and help more attract foreign capital”, said the Vice-Chairman International & Foreign Investment Affairs of Securities and Exchange Organization.

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im

US Letters of Comfort in Lieu of Letters of Credit

by Navid Kalhordate: 30 August 2016in News & Reports No Comments

Iran’s Foreign Minister Mohammad Javad Zarif said the country is ready to receive “letters of comfort” from the US Department of the Treasury to alleviate concerns of foreign banks that are still afraid of US penalties for working with Iran after coming into force of the JCPOA. “We will pressure the Americans to respect their commitments and release such a letter,” Mohammad Javad Zarif told reporters on Monday.

“[Foreign] banks and economic sectors will welcome the letter,” IRNA quoted him as saying after returning from a six-day tour of Latin America that took him to Ecuador, Cuba, Chile, Nicaragua, Bolivia and Venezuela.

Iran is struggling to access financing from abroad while most major foreign banks fear unwittingly violating vague, residual American sanctions, which prohibit trade with Iran in dollars, through the US financial system.

Iran has pressured the United States to do more to remove obstacles to the banking sector and has sought European leverage to secure better terms from the US.

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Issuance of salam sukuk for PGSOC – Daily Market News

by Navid Kalhordate: 23 August 2016in News & Reports No Comments

Issuance of salam sukuk for PGSOC

Market News

The salam securities issued by the largest gasoline producer in the country, namely Persian Gulf Star Oil Company, sold out in a fraction of seconds on Iran Energy Exchange (IRENEX). The financing facilitated by the issuance of 1,400,592 contracts with the base price of IRR 2,141,950. The bond’s yield rate is 20% paid on a daily basis to the holders of the salam.

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1

21.1% rise in industrial export in 4 months

by Navid Kalhordate: 16 August 2016in News & Reports No Comments

“Exports of Iran’s industrial goods, excluding those of oil and gas condensate, witnessed a 21.1 percent hike in the first four months of the present Iranian calendar year (March 20- July 21, 2016),” Iranian Deputy Minister of Industry, Mining and Trade, Mohsen Salehinia, cited saying in a press conference on Monday.

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Iran, Exchange Market, TSE, Iran Market Cap, Iran Market Value, Iran Traded Value, Number of Trades, TSE index, TSE value Index, TSE industry index, TSE free float index

Life Insurance premiums climbing up

by Navid Kalhordate: 9 August 2016in News & Reports No Comments

Life insurance accounted for 14.8% of insurance industry’s earned premiums in the first quarter of the current Iranian year (started March 20, 2016), growing 2.9% YOY, compared with 12.6% of the same period, the preceding year, showing a 2.2 percentage points.

According to Central Insurance Company of Iran, acronymed as CII, in the spring season, insurers sold   7.7 trillion rials ($220 million, at unofficial exchange rate) premiums by issuing more than 776,000 life insurance policies.
The rise in life insurance class in insurers’ portfolio seems to be the result of consecutive cuts in banking sector’s interest rates kick started in the year before.

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IMG10513024

Tiered exchange rate system and implications of its unification in Iran

by Navid Kalhordate: 6 August 2016in Blog, Macroeconomics No Comments

Iran plans to unify its dual currency exchange rates with the dollar as a measure to streamline its ailing economy and boost economic growth before the end of Persian calendar year, ending 20th 2017, according to governor of Central Bank of Iran, Valiolah Seif. The move is a major step towards floating the rial after about one decade of state control over the currency market.

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9

Is Tehran Stock Exchange Index truly representing the overall market behavior?

by Navid Kalhordate: 2 August 2016in News & Reports No Comments

Is Tehran Stock Exchange Index truly representing the overall market behavior?

This is a common question asked multiple times by market practitioners and observers of Iran’s capital market. This is essentially due to the asymmetry readily witnessed by those who buy and sell stocks of companies listed on Tehran Stock Exchange (TSE).

Indeed, there are occasions when mixed signals are communicated by the All-Share Index if you happen to make professional investment decisions based on interpretations of the benchmark index.

For instance, you might see in one typical session of the exchange market that the gauge is in the red zone by about 300 or 400 points down but there are many sectors across different market boards that are experiencing gains rather than losses in price in spite of the general negative environment usually seen under such circumstances.

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Iranian mutual funds

Why do Iranian mutual funds fail to attract individual investors?

by Navid Kalhordate: 27 July 2016in Blog, CapitalMarket No Comments

Why do Iranian mutual funds fail to attract individual investors?

A mutual fund is a collective investment vehicle. It is a pool of investors’ money invested in the financial or money market according to pre-specified investment objectives.

With respect to Iran, the first Iranian mutual funds were introduced to the capital market in 2008 under the supervision of the Securities and Exchange Organization (SEO), exchanges’ regulatory body in Iran.

Indeed, the development of Iranian mutual funds has been among the main concerns of the market regulator, as this provides the means for amateur and early beginners with the capital market of Iran to invest their precious savings with ease of mind and least amount of risk possible.

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Iran Khodro to sell 28 subsidiaries

by Navid Kalhordate: 26 July 2016in News & Reports, Uncategorized No Comments

Iran Khodro to sell 28 subsidiaries

Iran’s largest carmaker, Iran Khodro Company (IKCO), is planning to sell 28 of its subsidiary companies by the end of the current Iranian year (March 20, 2017), the company’s CEO, Hashem Yekezare, said in a press conference.

He also noted that IKCO will be releasing two new models, namely a new version of Dena and Peugeot 207, expected to be reintroduced with both hatchback and sedan models.

Yekezare went on to say that auto production in the first quarter of the current Iranian year (started March 20) increased by 40% and 7% compared to the same period in 2014/15 and 2015/16, respectively.

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