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Iranian Rial


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Publish Date: Fri, 30 Sep 2016 19:07:18 GMT
Service: Iran
 
 

Salehi: Iran best country for foreign investors

Salehi: Iran best country for foreign investors

Iran is the best country for foreign investors, said the Head of Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi.

Speaking to Austrian daily Wiener Zeitung, Salehi noted that Iran's economy is indigenous and is promoting itself on a daily basis in a move towards becoming introversive.

Because of war and oppressive sanctions, Iranian economy has become endogenous and it is now the best country for foreign investment, he added.

Referring to Iran's strategic location and its link to the Caspian Sea in the north and Persian Gulf in the South, he said that Iran is a country with rich natural resources.

Being located along the Silk Road and being the hub for export of goods to a 400-million strong market, Iran has the required infrastructure for absorbing investment, Salehi added.

He pointed to Iran's educated youth and said that despite widespread instability in the region, Iran is the safest country for investment.

         
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German economy minister due in Tehran on Sunday

German economy minister due in Tehran on Sunday

German Economy Minister and Vice Chancellor Sigmar Gabriel at the head of a delegation of business executives is to pay a two-day visit to Iran from Sunday.

Gabriel said he plans to discuss economy as well as developments in the region with Iranian officials, Der Spiegel reported.

The German delegation will discuss potential business deals after a historic nuclear accord paved the way for ending nuclear-related sanctions that had been in place for years.

The minister said he expected some agreements to be signed during the visit but gave no details.

German industry is keen to rebuild longstanding business ties with Iran, but trade has been slow to resume due to uncertainty and financial sanctions that remain in place even after completion of the nuclear accord.

Following the conclusion of the nuclear deal between Iran and world powers, Germany is are fostering their economic cooperation with Tehran.

For decades and before the sanctions, Berlin was Tehran's biggest trading partner. Economic ties between Tehran and Berlin have been improved after removal of sanctions against Iran.

As per the latest German government data, German exports to Iran, especially machinery and equipment, rose significantly in the first quarter of the 2016.

 

         
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Publish Date: Fri, 30 Sep 2016 19:24:52 GMT
Service: Iran
 
 

Belgian parliamentary delegation due in Iran tomorrow

Belgian parliamentary delegation due in Iran tomorrow

A high-ranking delegation from the Belgian Federal Parliament plans to begin a five-day visit to Iran on Saturday and hold talks with senior officials of the Islamic Republic on ways to deepen parliamentary ties between the two countries.

The delegation headed by the chairman of the Belgian Parliament's Foreign Affairs Committee is slated to arrive in Tehran on Saturday at the official invitation of Chairman of the Iranian Parliament's National Security and Foreign Policy Commission Alaeddin Boroujerdi, Tasnim News Agency reported.

During their trip, the Belgian MPs are scheduled to meet a number of Iranian officials, including Parliament Speaker Ali Larijani.

The Belgian Federal Parliament is a bicameral legislature consisting of the Chamber of Representatives and the Senate.

Following last year’s nuclear agreement between Tehran and P5+1 group of countries, Iran’s Parliament officials have stepped up efforts to strengthen ties with other parliaments in the world.

 

 

         
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Iran, Indonesia opt for broadening of ties

September 30, 2016
 
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TEHRAN – Iranian ambassador to Jakarta Valiollah Mohammadi Nasrabadi and Indonesian Head of Indonesian Foreign Ministry’s Policy Analysis and Development Agency Siswo Pramono on Thursday called for broadening of mutual cooperation between the two countries.

During the meeting, the sides discussed different issues such as prospect of the Joint Comprehensive Plan of Action (JCPOA), current issues in the sphere of energy in the global market, regional affairs, and Indonesia’s chairmanship over the Indian Ocean Rim Association.

SP/PA
 

 

You ou alsways known as soon as they discuss JCPOA, theybare talking about banking restrictions! And broadening of ties means money and banking!

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2 hours ago, screwball said:

Hmmmm.lots of meetings taking place with European countries and delegations over the past few days and this weekend..

Wow, I'd say so. You said "700 billion in untapped resources" is that 700 billion dollars ????? This is getting fun and interesting!!! Seeing all these other countries having meetings. I just wish it would RV already though lol.

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2 hours ago, gixxerfrog said:

 

Wow, I'd say so. You said "700 billion in untapped resources" is that 700 billion dollars ????? This is getting fun and interesting!!! Seeing all these other countries having meetings. I just wish it would RV already though lol.

Yeah 700 billion dollars, they currently only mine 1%....plenty of room...and yes you and me both I am still hoping for october!

 

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Investment in Chabahar Port in Iran to be expedited

By ENS Economic Bureau

Published: 01st October 2016 05:24 AM

Last Updated: 01st October 2016 05:39 AM

 
 
  • Investme.jpg

NEW DELHI: To attract investment from across the globe for the strategic Chabahar port in Iran which would give India access to Afghanistan bypassing Pakistan, a major economic summit has been proposed by the  year end.

Afghan Ambassador to New Delhi Shaida Abdali said on Friday after meeting between Shipping, Road Transport and Highways Minister Nitin Gadkari.

Earleir on Wednesday, Iranian Minister of Roads and Urban Development Abbas Akhoundi and Afghanistan’s Minister of Transport and Civil Aviation Mohamadullah Batash met Shipping, Road Transport and Highways Minister Nitin Gadkari.

 The meeting focused on measures to expedite the implementation of the Chabahar transit and trade agreement and there were some “very good decisions” taken within that framework.

 

“We are going to address some of the technical issues involved in the Chabahar agreement and within the next two months we will -- in India or Iran, but more likely India --call a major economic summit where all the industries will participate from India, Afghanistan, Iran and from beyond,” said Abdali.

He said, the ministers discussed technical issues and have decided to set up a secretariat each in India, Afghanistan and Iran to deal with those.

“Within a month, the three secretariats will meet again and procedures to invest will be made clear. We will be fully ready for foreign investers...to start business,” he said.

He said, the ambitious project, will not just concentrate on the three countries business and economic relations but will also involve and engage all other neighbouring countries, especially those in Central Asia and South Asia.

 
 
 

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A Citroen Mehari automobile, produced by PSA Peugeot Citroen.Jason Alden/Bloomberg via Getty Images

 

The French carmaker plans to sell more than 150,000 vehicles there in the second half.

PSA Peugeot Citroen  PUGOY -3.27%  said it plans to sell more than 150,000 Peugeot vehicles in Iran in the second half of this year as the French carmaker seeks to reclaim the leading position it once enjoyed in the country.

Peugeot, the biggest-selling European automaker in pre-sanctions Iran, suspended sales in 2012 when an international boycott due to Iran’s nuclear program was extended to cars. Most sanctions were lifted in January.

The French carmaker’s sales peaked at 458,000 vehicles before its withdrawal, nearly 30% of the Iranian market, but it now faces stiff competition from Chinese carmakers that have grabbed more business during the sanction years, as well as from western rivals such as Renault, who are also flocking back with newer models.

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French car manufacturer Renault (RENA.PA) said on Friday it has signed a deal to enter into a new joint venture in Iran that would allow it to strengthen its presence in the country after most trade sanctions were lifted earlier this year.

In a statement, Renault said it would be the majority shareholder in the joint venture with Iranian investment fund IDRO, Reuters reported.

Renault CEO Carlos Ghosn said there is "undeniable" potential in the Iran market. The joint venture will include a new manufacturing plant with a capacity to produce 150,000 vehicles per year. The carmaker already has an annual capacity of 200,000 vehicles in Iran.

Renault said that its Symbol and Duster models would roll off the new factory's production line from 2018. The Renault group's sales in Iran increased 56 percent in 2015 from the 51,500 vehicles sold the previous year.

Renault follows on the heels of PSA Peugeot Citroen (PEUP.PA) which in July struck a framework deal with Iranian counterpart SAIPA to invest 300 million euros ($335.5 million) in developing and producing three Citroen models.

The deal with SAIPA, Citroen's partner since 1966, follows a joint venture deal inked in June between stablemate Peugeot and Iran Khodro. PSA's smaller DS premium badge has also clinched a distribution agreement in the country.

Peugeot, which is seeking to reclaim the leading position it once enjoyed in Iran, said on Thursday Iran's Minister for Industry Mohammad Reza Nematzadeh would visit its Velizy research center near Paris to discuss cooperation.

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So many dates!

May 3, 2016 - Iran plans to introduce a single exchange rate for foreign currencies as of late September, following years of maintaining a multi-tiered currency ... No FLNG deals for Iran, but LNG talks move forward.
 
and this is what we wait for! 
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The directive was widely expected, as Valiollah Seif, the governor of the Central Bank, has long said the dual exchange rate system would be ended soon after sanctions were lifted.

But neither Rohani nor Seif has given any hint what the new exchange rate will be or how it will be determined.

To work, economists generally say Iran will have to drop its official rate and accept the free market rate.

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19 hours ago, millionaire in training said:

Interesting indeed . And NO Cuba does not have any oil. They have sugar , beautiful beaches , #1 rum Havana Club (made with sugar cane) better than Bacardi. 

 
But it sure looks like some know something most do not !!
   pp
 
REUTERS
 

Oil companies want to get in on the action in Cuba

By Katie Herzog on Mar 21, 2016

It’s a new day for Cuba and the U.S.

A little more than a year after relations between the two nations officially started to thaw, President Obama on Sunday became the first U.S. president to visit the island nation since Calvin Coolidge. During a two-and-a-half-day visit, Obama is meeting with Cuban President Raúl Castro to discuss lifting the 1962 embargo as well as economic opportunities and human rights abuses, according to the White House. He’ll also attend a baseball game.

Obama isn’t the only one interested in Cuba. Big Business, including the oil industry, is eyeing the island nation as well. One hundred and twenty business leaders converged upon the country to discuss offshore oil development last October. While American companies are still barred from owning oil assets in Cuba, U.S. firms can be involved in drilling and safety operations. Cuba might welcome that, as Bloomberg Government reports:

Cheap oil has forced Venezuela to scale back its support for Cuba, and that’s prodding the officially Communist nation to open up to foreign investment and build on its rapprochement with the U.S., according to a Moody’s report in December. And opening up may mean boosting the 50,000 barrels a day of oil now produced there. The U.S. Geological Survey estimated that 4.6 billion barrels of crude oil are lurking in the North Cuba Basin, with most of it within 50 miles of Cuba’s coast; that’s one-fifth of what USGS estimated to exist in the Arctic seas off Alaska. But this oil — if it’s really there — wouldn’t need to be produced in some of the world’s harshest conditions, and would be just a short barge voyage away from U.S. Gulf-area refineries.

Of course, the prospect of more offshore development in Cuban waters isn’t exactly comforting to environmentalists. Drilling could happen as close as 50 miles off the coast of Florida, so a big oil spill there could certainly reach American shores. Plus there’s the whole climate change thing to worry about. Cuba, a low-lying island, is especially vulnerable to sea-level rise.

An official White House fact sheet about Obama’s trip to Cuba mentions climate change and the two countries’ intentions to work together on fighting and adapting to it — and makes no mention of oil or gas. “The United States and Cuba recognize the threats posed by climate change to both our countries,” it reads, “including worsening impacts such as continued sea-level rise, the alarming acidification of our oceans, and the striking incidence of extreme weather events. Cooperative action to address this challenge is more critical than ever.”

Addressing this challenge may be critical, as both Washington and Havana are aware, but as oil companies show an increased interest in Cuba’s oil reserves, we may, once again, see the triumph of profit over progress. It’s happened everywhere else. Why not Cuba as well?

Edited by pokerplayer
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Tehran- “Greece looks for development of economic, specially banking relations with Iran,” said the Greek Deputy Prime Minister Yannis Dragasakis in his meeting with the Governor of the Central Bank of Iran (CBI) Valiollah Seif in Athens on Thursday.

As IRNA reported, Dragasakis said that his country’s banks are eager to cooperate with their Iranian counterparts vowing that his administration will support Iranian companies’ investment in Greece and vice-versa.

Seif, in his turn, expressed the Iranian government’s readiness to boost economic and banking cooperation with the European country.

Underscoring the significant role of banking relations in consolidation of bilateral economic ties, the CBI governor expressed content that positive steps have been taken for expansion of banking relations with Europe, including Greece.

On September 23, Iranian President Hassan Rouhani told Greek Prime Minister Alexis Tsipras that Tehran welcomes expansion of relations with Athens in various spheres.

The two countries’ capacities have laid the grounds for deepening cooperation especially in economic area, Rouhani said.

Rouhani who met Tsipras on the sidelines of the UN General Assembly meeting in New York said a “new chapter” has been opened in Tehran-Athens ties. 

He highlighted the importance of strengthening banking relations between the two countries.

 

HJ/MA

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Ok  so now that China is part of the SDR basket there doesn't seem to be any earth shattering News about it affecting our riel 

The news SB is bringing is positive but nothing seems to have changed with China now being in the basket 

This is why I don't get hyped--always a let down 

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2 hours ago, pokerplayer said:
 
But it sure looks like some know something most do not !!
   pp
 
 
Oil companies want to get in on the action in Cuba

It’s a new day for Cuba and the U.S.

 

Yep.... lots of things are going on in secrecy....behind closed  doors that we are now finding out about. Wonder what's next?  

I always knew there was more to it than what Obama was saying about just making peace with the cuban government. He's after something.

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30 minutes ago, climber7 said:

Ok  so now that China is part of the SDR basket there doesn't seem to be any earth shattering News about it affecting our riel 

The news SB is bringing is positive but nothing seems to have changed with China now being in the basket 

This is why I don't get hyped--always a let down 

So now we wait and see......No fireworks on my end either .....:shrug:   :rocking-chair:

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