government
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Banks’ Surplus Assets Fall Out of Favor
EghtesaadOnline: While the government insists on lenders to get rid of their surplus properties, it seems that this is better said than done.
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Crypto Mining Rules Expounded
EghtesadOnline: The government says it recognizes mining of cryptocurrencies as an industrial undertaking and sent a directive to the relevant government bodies at the weekend.
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Iran: Rial Revaluation Issue Returns
EghtesadOnline: The government on Wednesday approved a central bank proposal based on which four zeros will be shaved off and the national currency rial and the change from official rial to the…
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Iran Government Legalizes Cryptocurrency Mining
EghtesadOnline: After months of speculation over the fate of mining and trading cryptocurrencies in Iran, the government late on Sunday announced that it recognizes mining cryptocurrency as a…
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Participatory Bonds Worth $310m Sold Last Year
EghtesadOnline: The latest data on the participatory bonds market in the last fiscal year (ended March 20, 2019) indicate that government and municipalities sold about half of the bonds issued…
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No Plan to Remove Zanganeh
EghtesadOnline: The government has no plans to remove Oil Minister Bijan Namdar Zanganeh from his post, the government spokesman said on Monday.
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Iran Government Removes Ban on Auto Presales
EghtesadOnline: While complaints against local automotive companies over delayed deliveries have piled up at the judiciary, the government has given the green light to these firms to launch new…
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Gov’t Ends Subsidized Forex Allocation for Red Meat Imports
EghtesadOnline: The government will no longer grant subsidized foreign currency for the import of red meat, Deputy Agriculture Minister Morteza Rezaei told Fars News Agency.
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Iran: Subsidy Choices Take Center Stage
EghtesadOnline: Head of the Plan and Budget Organization says the government is weighing three options on allocating $14 billion for importing essential goods in the next fiscal that starts on…
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Iran Government Rejects Bill That Could Hurt Ride-Hailing Firms
EghtesadOnline: A bill proposed by the Interior Ministry that put online taxi firms’ survival at stake and could wipe out thousands of jobs has been dismissed by Cabinet.
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Iran: Electronic Distribution of Subsidized Currency Approved
EghtesadOnline: In a highly anticipated parliamentary decision on Saturday, lawmakers ratified an amendment to the next year’s (March 2019-20) budget bill which obliges government to allocate…
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€2.3b NDFI Resources for National Projects
EghtesadOnline: Lawmakers allowed the government on Sunday to withdraw €2.37 billion from the National Development Fund of Iran to be paid in foreign currency for completing national projects…
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Iran Parliament Allows Gov’t to Borrow $30b Overseas
EghtesadOnline: While debating the March 2019-20 budget bill on Monday, lawmakers allowed the government to borrow $30 billion in foreign finance in the next fiscal (March 2019-20).
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Iran Gov't Extends $333m Loan for 2 Major Carmakers
EghtesadOnline: The government will lend money to two local auto companies, Iran Khodro and SAIPA, to the tune of 40 trillion rials ($333 million). The bailout is for paying part of the carmakers’…
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Iran Gov't Wants to Generate $8.5b by Selling Bank-Owned Property
EghtesadOnline: As part of its plans to reform the limping banking sector, the government has launched a program to sell excess property of state banks.
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Iranian Banks Need to Boost Capital: MRC
EghtesadOnline: The Majlis Research Center has called on the government and monetary regulators to boost the capital buffers of banks to help them cope with recession that observers predict will…
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Iran Government Announces Concessions to Placate Exporters
EghtesadOnline: Iran's minister of industries, mining and trade announced new concessions to exporters and promised closer cooperation to help resolve pending issues outlined in the long list…
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Iran Gov’t Expects Less Revenue From ICT Sector
EghtesadOnline: In the coming fiscal (2019-20), Iran government expects to earn 100 trillion rials ($864 million) from the ICT sector, down 9% compared to projected income for the current year…
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435 Trillion Rials in Bonds Proposed in 2019-20 Budget
EghtesadOnline: Provisions of Note 5 of next year’s budget give details about Islamic bonds the government intends to issue in the next fiscal year that begins in March 2019.
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Iranian Government Finalizing User Data Protection Bill
EghtesadOnline: Drawing on EU’s General Data Protection Regulation (GDPR), Iran’s ICT Ministry has prepared a bill it calls ‘User Data Protection’ that will soon be sent to the Majlis for ratification…
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Iran Gov't Financial Resources Up 20%
EghtesadOnline: Mohammad Baqer Nobakht, the head of Plan and Budget Organization of Iran, says despite sanctions, the government’s financial resources have increased more than 20% in the first…
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Iranian Gov’t Bodies, Banks Allowed to Issue Bonds
EghtesadOnline: The government has outlined new tasks for state-owned companies, banks and for-profit institutions as part of a directive for the next fiscal (March 2019-20) budget.
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Iran Gov't Reducing Construction Costs to Help Distressed Areas
EghtesadOnline: The government's initiatives, including urban development tax rebates and construction incentives, have significantly lowered construction costs to help distressed urban areas.
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Iran Government Expected to Change Currency Repatriation Rules
EghtesadOnline: Iran's private sector remains steadfast in its opposition to recent currency repatriation rules lately adopted by the government with the supposed aim of bolstering currency reserves…
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Iran Gov’t Cuts Back on Spending Amid Growing Budget Deficit
EghtesadOnline: President Hassan Rouhani’s Cabinet approved plans on Sunday to cut down the government's unnecessary expenses.
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Iran Gov’t Buys 5.5% More Wheat This Year
EghtesadOnline: More than 9.5 million tons of wheat worth 120 trillion rials ($750 million) have been purchased from local farmers across the country by the government in the current Iranian…
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Economist Urges Government to Reconsider Inflationary Policies
EghtesadOnline: Iranian policymakers seem to think that moderate rates of inflation make the economy perform better.
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Iran’s CB Allowed to Intervene in Forex Market
EghtesadOnline: The government on Saturday authorized the central bank to intervene in the foreign exchange market to prop the rial after the currency fell to record lows in recent weeks against…
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Iran Capex Disbursements Increase by 450%
EghtesadOnline: The Iranian government has spent 255 trillion rials ($1.73 billion) in capital expenditure during the first five months of the current Iranian year (started March 21), which is…
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Iran's CFT Convention Bill Back in Majlis
EghtesadOnline: The government bill that allows Iran to join the international Convention for the Suppression of the Financing of Terrorism is back on the Majlis floor after the two-month hiatus…