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FW....hate to disappoint you but Im not a "brother"        more like a sister ,girl, dudett , millionairess, female,  all of the above .....   

Talked with my banker buddy here in town to see if she was given even an Inkling of anything possible in the works. Nope She said that if or even if ever any country changes rates in a dramatic manne

Once we get the green light from Canadians banks I will put the plan in place so I can send to any interested so they won't need to figure out what to do here. As in paperwork, I.D. ect. pp

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4 hours ago, WheresmyRV? said:

Relax people, this could very well happen anytime this month all the way till the end of March.  If this doesn't hit after March then I will be letdown.

 

4 hours ago, WheresmyRV? said:

We have a far better chance of this hitting than the dinar imo.

I agree with WRV here....it's still gonna be a waiting game that we're playing.......but c'mon, ya' can't deny that things aren't really cooking up indeed?! :twothumbs:

The signs show that this thing may pop waaaaay before Iraq will ever get their act together!  Who knows?  From now until March 20th 2017, I'll be ready to be surprised!!:praying:

Then yeah, if nothing happens after March 20th 2017, it'll be a total letdown and I'll be hitting that bottle of Macallan rather hard. Yup. <_<

Keeping the faith!!! :praying:

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6 hours ago, screwball said:

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

This is another huge hit in the news!!  Now Greece is coming to play?!  And they really need all the help they can get regarding their own banking fiasco in recent months!!  WOW!! :blink:

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9 hours ago, screwball said:

If this dude isn't saying the rate is expected to be like, around 1 to 1.......then I really have no idea what I'm doing here..:blink:

Screwball, you're gonna make me pass out drunk before the night is over..........KEEP THE NEWS COMING MY FRIEND!!

YEEEEEAAAAH MAN!! HA! :cheesehead:

Edited by Freedomwish
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1 hour ago, Freedomwish said:

If this dude isn't saying the rate is expected to be like, around 1 to 1.......then I really have no idea what I'm doing here..:blink:

Screwball, you're gonna make me pass out drunk before the night is over..........KEEP THE NEWS COMING MY FRIEND!!

YEEEEEAAAAH MAN!! HA! :cheesehead:

I took it as instead of the dual rates it will be just one, not 1:1  right now there is a street rate and a cbi rate. I can't see them going to 1:1 even after they rv, I'm hoping for around 10 cents.  I still think we have some time yet before this pops....hopefully not too much longer though lol.

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9 hours ago, WheresmyRV? said:

Relax people, this could very well happen anytime this month all the way till the end of March.  If this doesn't hit after March then I will be letdown.

Very true it could! I have been let down with dinar so many times am used to it...I need it now like everyone else but will happen they are ready we know banking systems are a go....so it's down to them!

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Yeah I am going with their usd parity comments in previously posted articles! It is possible they could come in at .30

2 hours ago, gixxerfrog said:

I took it as instead of the dual rates it will be just one, not 1:1  right now there is a street rate and a cbi rate. I can't see them going to 1:1 even after they rv, I'm hoping for around 10 cents.  I still think we have some time yet before this pops....hopefully not too much longer though lol.

Yeah I am going with their usd parity comments in previously posted articles! It is possible they could come in at .30

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  1. Economy
  2. Domestic Economy
Saturday, October 01, 2016

Surge in Exports to Japan

 

Iran exported $549.4 million worth of non-oil goods to Japan in the first five months of the current Iranian fiscal year (started March 20), 40 times more compared with $13.8 million in last year’s corresponding period. Gas condensate, carpet, seed, pistachio, saffron and fruit were among the main exported commodities, according to the Islamic Republic of Iran Customs Administration. Iran’s exports to Japan in the last Iranian year (March 2015-16) stood at $38 million, up 10% over the previous year.

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The Iranian Privatization Organization is lining up its largest initial public offerings of the year, amid a bearish market with low demand for risky assets, as it tries to help bridge the gap in government finances.

The stakes of government property prepared for sale are estimated to bring in 15 trillion rials ($418.5 million at market exchange rate) for the organization, according to Seyyed Jafar Sobhani, a consultant to the organization’s chief executive.

The offerings will be the largest sale of government-owned companies in the 1395 fiscal year (started March 20), state-owned IRNA reported.

Any money made by the administration is welcome, given its precarious fiscal situation. The government’s first quarter operational deficit came in more than expected in the report published by the Central Bank of Iran last week.

Government revenues were 223 trillion rials ($6.2 billion at market exchange rate) short of expenses in the first quarter of 1395. The deficit accumulated during the first quarter is nearly half of last year’s total deficit of $13 billion.

Apart from the upcoming sale on Oct. 3, the organization has 200 more companies to sell in 1395. The organization was handed a list of 1,111 companies to sell at the onset of privatization a decade ago. Since then, most have been sold, dissolved or bankrupted, according to the consultant, and now 200 remain.

“We have to prepare and price all remaining companies that are designated for privatization through Tehran Stock Exchange and Iran Fara Bourse in 1395,” said Sobhani.

However, the organization’s officials are not betting on high demand and easy sale of their remaining stock of corporations. Most of the big names were sold under dubious circumstances during the presidency of Mahmoud Ahmadinejad (2005-13). So, the remaining companies are small and some have financial problems.

“We must accept that companies left over from the early years of privatization are not in high demand. As in any firm, they buy the merchandise first and in the end, problematic companies remain and this makes things hard for the Iranian Privatization Organization,” said Sobhani.

The organization faces a dilemma in pricing its assets. As Sobhani posits, if the companies are offered at their “real value”—what the government thinks they are worth—then some companies may be left without buyers. On the other hand, if the companies are offered at lower prices, the organization can bet on facing allegations of corruption and rent.

The organization has faced much criticism for its actions during the Ahmadinejad years when large stakes in Iran’s most lucrative companies like the Telecommunications Company of Iran were sold to quasi-state organizations affiliated to the armed forces at huge discounts. Those moves effectively handed the control of Iran’s heavy industries to the quasi-state sector. These events left the economy worse off than when it was state run, according to presidential advisor Masoud Nili.

“Thus, offerings in 1395 are both complex and difficult,” said Sobhani.

The Oct. 3 privatization lineup includes complete control of four slaughterhouses, three of which are priced at 100 billion rials and the fourth at 150 billion rials, and a 92% stake in Qaemshahr Textiles Company priced at 290 billion rials, Esfarayen Industrial Complex worth 11 trillion rials, Esfarayen Tube Company priced at 2.75 trillion rials and a stake in Parian Sepehr Refinery worth 130 billion. This is the second time the organization is auctioning Qaemshahr Textiles Company, as it failed to find a buyer for the company during the last auction in summer.

 

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3 minutes ago, blueskyline said:

Humor me ..........Lets just say they wanted to be pegged to the SDR now that China is in it and its as Stable as people say it is now with the Yuan inclusion. What sort of parity would it have to the SDR ?

Got no idea....what are your thoughts?

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Iran-Germany business commission to meet on Monday

October 1, 2016
 
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German Economy Minister Sigmar Gabriel, leading a 100-member delegation, will attend Iran-Germany business commission in Tehran on Monday and he also plans to take part in some meetings to be held in the building of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Shana reported on Saturday.

The German minister says the commission will meet for the first time in 15 years, and forecasts concrete business deals will be announced, Reuters reported on Friday.
He is making his second visit to Tehran since the Islamic Republic reached a deal with world powers in July last year to lift economic sanctions imposed on Iran over its nuclear program, in return for curbs on its nuclear activities.
Industrial giant Siemens AG and automaker Daimler will be among the first German firms to benefit from opportunities in Iran, but they are proceeding carefully and only after legal reviews.
Exports to Iran jumped 15 percent in the first half of the year to 1.13 billion euros and could reach 4 billion euros in the full year, said Michael Tockuss, head of the Hamburg-based German-Iranian Chamber of Commerce.
One big issue for small- and medium-sized firms is the inability to secure letters of credit for shipments of goods, said Werner Schroeppel, managing director of IMO GmbH, which exports components for wind energy facilities in Iran.
Schroeppel's firm is now using third parties to do business in Iran, but hopes the process can be streamlined so it can take part in an expected boom in Iran's wind energy sector.
The Europaeische-Iranische Handelsbank AG in Hamburg offers such instruments already, but Germany's two biggest banks, Commerzbank AG and Deutsche Bank AG said they remain cautious.
Michael Sabet, an Iranian-German business executive whose company imports tons of saffron from Iran, said more banks are ready to provide letters of credit which he said could save up to 3 percent of the cost of a deal.
"The situation is easing," he said. "We used to have to wait three to four months to get approval. Nowadays it's just a phone call and some documents to exchange and that's it."

(Source: agencies)
 

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Iran, France Ink Agreement Over "L-90" Auto Joint Venture

- Iran's Industrial Development and Renovation Organization (IDRO) and French car maker Renault here on Sunday evening signed an agreement to launch the first phase of a platform to produce a new automobile in Iran. - 10/1/16

 

IDRO's Director General Reza Veisseh, talking to reporters on the sidelines of a ceremony to conclude the agreement, said the platform was a joint venture project to produce cars named "L-90", stressing that the agreement would be finalized in four months.

Veisseh said the IDRO had entered the venture with Renault on a participation ratio of 51 to 49.

He said the project was expected to produce between 300,000 to 500,000 l-90s in the next Iranian calendar year of 1382 (starting March 21), stressing that the cars would be all LNG-fueled.

Veisseh said the project, to be completed in several phases, would develop Iran's automobile industry, stressing that the products would be presented to both domestic and the target markets of the project.

He further said the IDRO was trying to develop Iran's technology to produce auto spare parts within the frameworks of the IDRO-Renault agreement, adding that this would boost Iran's exports in the area.

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Finnish President Sauli Niinisto plans to pay a visit to Iran in November to develop trade and economic relations with Tehran, the Finnish Ambassador Harri Kamarainen said on Saturday.
He told IRNA that President Niinisto will accompany a big trade delegation to Iran, aiming to take major steps to develop trade relations between the two countries.
Foreign Minister Mohammad Javad Zarif, in a meeting with the Finnish president in Helsinki in July, extended the formal invitation of President Rouhani to President Niinisto.
During a meeting with Iranian businessmen in Semnan Province, Kamarainen said that Finland is keen on cooperation with the province in light of its industrial and mine capacities.
He said that industry and mine potentials available in Semnan Province are important for Finnish businessmen.
Kamarainen said that industry and mines need a lot of water resources; Iran needs to use the technology for refining industrial sewage water, and Finland can supply such technology to Iran.
Kamarainen said that if a railway from Helsinki is connected to Semnan, in the framework of the Silk Road, it would be a great achievement for both countries.
This is the third time that the Finnish ambassador visits Semnan Province.
 

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Turkish investment bank Unlu & Co. aims to complete the acquisition of an Iranian brokerage in the next six months and become the first Turkish financial services firm to operate in Iran since the easing of sanctions, its chairman said.
World powers in January lifted sanctions against the Islamic Republic in return for Tehran complying with a deal to modify its nuclear program. Turkish trade with Iran has since risen some 30 percent, reported Reuters.
“We aim to conclude the acquisition in the next three to six months,” Mahmut Unlu, chairman and chief executive of Istanbul-based Unlu & Co., said at a news conference.
The bank, which specializes in mergers and acquisitions and portfolio management, has also established an open-ended fund to invest in Iranian companies and has been hired by a Turkish consumer goods firm to find acquisition targets in Iran, Unlu said.
“The Turkish company we are advising is in talks to buy a majority stake in an Iranian firm. It will be a $60-70 million deal,” he said, without providing further details.
In line with its target of being a regional investment bank, Unlu & Co also aims to start operations in Egypt. Unlu said the bank aimed to be operating in all three countries within the next five years.
 

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1 minute ago, blueskyline said:

There is a tremendous amount of activity going on for a country with a possible parity rate of .30 .................compared to Iraq which supposedly may bring more value

Yes off course you only have to look at other countries rates to know they should be higher than what they are! .30 is the minimum I would think!

 

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One thing that crosses my mind is they have told some countires to settle debts by september, they have signed and continue to sign deals with countires in the billions, we have heard that having a internationally tradebale currency and single rate is something the banks are waiting on, so this could go down the wire on March if they need to sign more deals? I am very much hoping for and clinging to october because there are some articles that have said october but we know March is at the latest! Considering they have not posted Octobers sdr rates, let's hope for a surprise! But....

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