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Category : News & Reports

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Iran Imports

Iran allows raw materials imports up to USD 300 mn without actual FX transferring! – Daily Market News

by date: 19 January 2019in News & Reports No Comments

Iran allows raw materials imports up to USD 300 mn without actual FX transferring!

Market News

– After Iran central Bank’s rigour regulations on Imports/Export activities, now cabinet members are to ratify a bill allowing imports of raw materials up to USD 300 mn from export currency resources (a clearing process) without the need to actually transfer FX inbound/outbound the country. This is to ease merchants minds from being forced to enter their trade proceeds into domestic FX markets (NIMA and SANA platforms). 

Iran Energy Exchange

Iran offers crude at $52.42 bp on Iran Energy Exchange! – Daily Market News

by date: 14 January 2019in News & Reports No Comments

Iran offers crude at $52.42 bp on Iran Energy Exchange!

Market News

– After series of unconfirmed news around the third batch of oil offering on Iran Energy Exchange, now the deputy international affairs of NIOC announced that Iran will sell 1 mn barrels of its crude on January 21, 2019, at a price of 52.42 US dollars. The smallest lot shall be no less than 35K barrels per each order. Iranian officials have granted NIOC a green light for 3 mn barrels offering on IRENEX. This issue could be settled completely in Iranian Rials and has a clearing period of 90 days instead of 60. 

Iranian oil

US not to extend Iranian oil buyers exemptions! – Daily Market News

by date: 12 January 2019in News & Reports No Comments

US not to extend Iranian oil buyers exemptions!

Market News

– The head of Iran Action Group announced that the US will not extend exemptions of Iranian oil buyers that were granted previously. Brian Hook told the press that these exemptions aimed to stop the global oil price hikes and it is not likely that the United States extend the 6 month period. Last year 8 countries, including South Korea and Japan who still are not buying oil from Iran regardless of the immunity they have, were exempted from the ban on buying Iranian oil. 

corporate Sukuk Ijarah

New pieces of corporate Sukuk Ijarah on Iran Fara Bourse! – Daily Market News

by date: 9 January 2019in News & Reports No Comments

New pieces of corporate Sukuk Ijarah on Iran Fara Bourse!

Market News

– After the successful issuance of corporate Sukuk Ijarah for Tose-e Etemad Mobin Co., now Iran Fara Bourse offered a new round of equity-backed (2,224,199,289 shares of Iran Telecommunication Co. @ IRR 2,248 per share) securities on the exchange today. This round consists of 3 tranches with the following details and all the issued volume has been sold on the first day of the underwriting period:

Tehran Stock Exchange

Daily fluctuation limits to be dynamic on the Tehran Stock Exchange! – Daily Market News

by date: 7 January 2019in News & Reports No Comments

Daily fluctuation limits to be dynamic on the Tehran Stock Exchange!

Market News

– After massive controversies about the limitations that equities’ daily fluctuation range (±5% for TSE, IFB and ±10% for the base market) imposed on market liquidity and dynamism, now the new head Tehran Stock Exchange announced that a dynamic fluctuations limit is on this body’s agenda, however, the current IT infrastructures does not meet the need and it shall be upgraded with regards to international standards. 

Iran national currency

Parliament decides to drop zeros from Iran national currency! – Daily Market News

by date: 6 January 2019in News & Reports No Comments

Parliament decides to drop zeros from Iran national currency!

Market News

– After an implicit statement from the Central Bank now the administration announced that the parliament shall decide whether to drop 4 zeros from Iran national currency (Iranian Rial – IRR) or not. It seems that the government is decisive to drop zeros and prepared a bill in this regard that needs to be ratified by Majlis.

Iran Economy

Economist forecast on Iran Economy growth is negative for 2019! – Daily Market News

by date: 5 January 2019in News & Reports No Comments

Economist forecast on Iran Economy growth is negative for 2019!

Market News

– In its latest forecast report, the Economist intelligence unit has predicted that Iran Economy will sink with a rate of -3.70% for the year 2019. The US sanctions along with its consequent lower oil sales are the main catalysts behind the nation’s falling GDP growth. Syria, mostly due to the end of its long-lasting civil war, will experience the highest economic growth in 2019. Below picture has the details:

Iran PMI report

Iran PMI report publishes for the first time! -Daily Market News

by date: 2 January 2019in News & Reports No Comments

Iran PMI report publishes for the first time!

Market News

– The statistics centre of Iran chamber of commerce published, for the first time, Iran PMI report (Purchasing Managers’ Index). Being known as one of the most accurate economic indicators, this index has been calculated for the third quarter of 1397 (2018/19) fiscal year. Below table has the details:

Iran-India

Iran-India officially starts domestic currency bilateral financial transactions! – Daily Market News

by date: 1 January 2019in News & Reports No Comments

Iran-India officially starts domestic currency bilateral financial transactions!

Market News

– In a meeting between the head of CBI and India ambassador in Tehran, the two nations (Iran-India) have decided to make their financial transactions, in domestic currencies, operational after a series of top-level negotiations. In this line, the Indian ministry of oil announced that refineries, whom purchase Iranian oil in Rupee currency, would be exempted from tax payments on their orders. This would unlock a figure of cUSD 1.5 bn that these refineries have in debt with Iran.