Iran’s auto production up 40% year-on-year

Iran says its production of automobiles has already seen an increase of around 40 percent over a period of 11 months starting 21 March 2016 compared to the same period last year.

Iran says its production of automobiles has already seen an increase of around 40 percent over a period of 11 months starting 21 March 2016 compared to the same period in the previous year.

The announcement was made by Mansour Moazzami, the board chairman of the Industrial Development and Renovation Organization (IDRO) which is the operational arm of Iran’s Ministry of Industry, Mine and Trade.

Moazzami did not provide a figure on the number of automobiles that have been produced over the period. However, he said Iran’s total production of automobiles would reach to as high as 1.3 million by the end of the current Iranian calendar year (20 March 2017).

Iran is the Middle East’s largest auto market with a population of 80 million. The automobile industry is seen as Iran’s biggest non-oil sector, accounting for nearly 10 percent of the country’s gross domestic product (GDP).

Iranian manufacturers produced 1.6 million automobiles in 2011, about half of them by the country’s giant auto manufacturer Iran Khodro.

However, Iran’s production of automobiles dropped in 2012 as a result of the US-engineered sanctions.

The sanctions were lifted early last year after Iran reached a deal with the five permanent members of the Security Council plus Germany over its nuclear energy activities.

The deal – the Joint Comprehensive Plan of Action (JCPOA) – allows foreign investment in Iran’s car industry that had been banned from 2012 along with a series of other economic privileges.

Elsewhere in his remarks, IDRO’s Moazzami emphasized that the JCPOA had provided a “golden opportunity” for cooperation between Iranian and foreign automobile production companies.

Nevertheless, he emphasized that foreign companies had to shift the focus of their Iran investment plans from exporting to the Iranian market to cooperating with locals in production of automobiles and parts.

Comments

Bitcoin Laundering” Study: Where Do Criminals Turn to Mask Illicit Cryptoassets?

A recent study ( PDF ) from the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance and blockchain analytics company Elliptic explored the “bitcoin laundering” ecosystem. In the study, Elliptic’s forensic analysis of the Bitcoin blockchain and other publicly available data were used to track the flows of illicit funds from 2013 to 2016. “This study aimed to identify where individuals turn in order to cash out or transmit bitcoins (BTC) acquired from illicit entities and to discover typologies for criminals ‘laundering’ bitcoins,” the report says. The study describes bitcoin laundering as a special type of money laundering that exists within the Bitcoin network where a user moves some bitcoins to a new address in a manner that obscures the original source of funds. The conversion of bitcoins into fiat currency on exchanges that lack adequate anti-money laundering (AML) and know-your-customer (KYC) policies can also fall under the category ...

Soaring Bitcoin Price Leads $159 Billion Crypto Market Recovery

Bitcoin Well, somebody bought the dip. Just as critics were rushing to proclaim that the bitcoin bubble had burst, the markets staged a $159 billion recovery. The rally was headlined by the bitcoin price, which rebounded from its sub-$10,000 fling and is currently flirting with $12,000. Several other top-tier coins, meanwhile, returned single day increases in excess of 40 percent. Source: CoinMarketCap Altogether, the cryptocurrency market cap clawed its way back to $574 billion, representing a 38 percent recovery from Wednesday’s intraday low of $415 billion. Bitcoin Price Eyes $12,000 Wednesday served as a trial-by-fire for recent bitcoin investors, some of whom had purchased the flagship cryptocurrency for $19,000 at the height of the rally in mid-December. Bitcoin Price Chart The correction forced the bitcoin price below $10,000 for the first time since early December, but Thursday’s rally enabled bitcoin to regain a bit...

How to Boost Your Credit—or Build it Up From Nothing

Now that you know how credit works , you probably want to know how to make it work better . While nothing is better for your credit than paying your bills in full and on time, there are ways to give it a boost. Like it or not, credit matters . It’s also complicated. In our “Everything You Need to Know About Credit” series, we’re breaking down the basics. When a lender or landlord looks at your credit, they’re not just looking for a three digit number, they want to know how you actually handle credit. That’s why your credit report is more important than your score. That said, your score matters, too, and the good news is, there are shortcuts for boosting it in a relatively short amount of time. And if you don’t have credit at all — let’s say you’re a teenager about to start college — your biggest focus should be on building up a credit history. That way you can apply for student loans, apartments, and make sure you aren’t gouged on bills . Here are some options...

Gsbt

Search This Blog