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☆ Iran rations euros as fights break out at foreign-exchange offices amid rial's plunge to record lows
▼ + stars: | 2023-02-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Iran will limit the purchase of euros to 500 a year for air passengers. The Central Bank of Iran on Tuesday sharply curtailed the ability to buy euros amid continued weakness in the rial. Iran will limit the purchase of euros to 500 a year for air passengers, according to state-run media cited by Bloomberg. Monday's push to sell rials followed the currency's rapid decline in value, dropping to a record low of 501,300 rials per US dollar. Bloomberg reported that the CBI will also work on stabilizing the rial's value by holding onto foreign currencies brought in by export revenues through industries with access to subsidized fuel.

☆ China's Xi calls for early resolution of Iran nuclear issue
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +3 min

[1/7] Iranian President Ebrahim Raisi shakes hands with Chinese President Xi Jinping during a welcoming ceremony in Beijing, China, February 14, 2023. Iran's President Website/WANA (West Asia News Agency)/Handout via REUTERSBEIJING, Feb 14 (Reuters) - China's President Xi Jinping on Tuesday called for the early and proper resolution of the Iran nuclear issue while expressing his support for the Islamic Republic in safeguarding its rights and interests, according to Chinese state media. China will continue to "participate constructively" in talks to resume negotiations on implementing the Iran nuclear agreement, Xi told Iran's President Ebrahim Raisi in talks in Beijing. In September, the United States imposed new sanctions on companies involved in Iran oil exports, including five based in China. Washington said it would continue enforcing sanctions on Iran's oil and petrochemical sales so long as Tehran continues to accelerate its nuclear program.

☆ U.S., allies say IAEA report shows Iran inconsistent in meeting nuclear obligations
▼ + stars: | 2023-02-03 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

[1/2] A sign marks the seat of Iran's ambassador to the International Atomic Energy Agency (IAEA) ahead of a board of governors meeting at the IAEA headquarters in Vienna, Austria March 9, 2020. REUTERS/Lisi NiesnerWASHINGTON, Feb 3 (Reuters) - A U.N. watchdog report shows Iran is being inconsistent in meeting its nuclear obligations, the United States, Britain, France and Germany said in a joint statement on Friday. Iran said the IAEA's position on Tehran's nuclear work was not correct. Fordow is so sensitive that the 2015 nuclear deal between Iran and major powers banned enrichment there. Since the United States pulled out of the deal in 2018 and reimposed sanctions against Iran, the Islamic Republic has breached many of the deal's restrictions on its nuclear activities.

JAKARTA, Feb 1 (Reuters) - Indonesia plans to send a top general to Myanmar to talk to its junta leaders in the hope of showing Myanmar's military rulers how Indonesia made a successful transition to democracy, President Joko Widodo said on Wednesday. We have the experience, here in Indonesia, the situation was the same," the president, who is widely known as Jokowi, told Reuters in an interview in his offices in Jakarta. The military took over in Myanmar in 1962, isolating the country and suppressing dissent for decades until a tentative opening up began in 2011. Other members have appeared increasingly frustrated with the Myanmar military and are keen to maintain a ban on its top officials taking part in ASEAN forums. Managing rifts over Myanmar, and escalating tension in the disputed South China Sea, will be among the main challenges for Indonesia in its role as ASEAN chair.

☆ Iran's 'death committee' president unyielding in defence of clerical rule
▼ + stars: | 2023-01-17 | by ( Parisa Hafezi | ) www.reuters.com time to read: +7 min

Raisi, then deputy prosecutor general for Tehran, was a member of the capital's death committee, according to Amnesty. In 2016, another member of the Tehran "death committee" said, "We are proud to have carried out God's order,” state media reported. "Raisi has been brought up as president for a few reasons, including his brutality, loyalty, and lack of conscience. SANCTIONED BY U.S.Raisi was born in 1960 to a religious family in Iran's northeastern Shi'ite Muslim city of Mashhad. Khamenei, not the president, has the final say on all major policy under Iran's dual political system split between the Shi'ite clerical establishment and the government.

Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue to Iran's government. "In comparison to the Trump administration, there hasn't been any serious crackdown or action against Iran's oil exports," said Sara Vakhshouri of SVB. The Iranian oil ministry did not respond to a request for comment on exports. MORE TO CHINAThere is no definitive figure for Iranian oil exports and estimates often fall into a wide range. According to another analyst, Vortexa, China's December imports of Iranian oil hit a new record of 1.2 million bpd, up 130% from a year earlier.

☆ Prominent Sunni cleric denounces Iran crackdown, currency near record low
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +3 min

[1/5] People take part in a protest against the Islamic regime of Iran following the death of Mahsa Amini, in Istanbul, Turkey December 10, 2022. REUTERS/Dilara SenkayaDUBAI, Dec 23 (Reuters) - Iran's currency hovered near a historic low against the U.S. dollar on the unofficial foreign exchange market on Friday amid renewed street protests in the restive southeast, where a prominent dissident Sunni Muslim cleric denounced a bloody crackdown on street demonstrations. Some of the worst unrest in recent months has been in areas home to minority ethnic groups with long-standing grievances against the state, including Sistan-Baluchistan and Kurdish regions. On the unofficial foreign exchange market, the U.S. dollar sold for as much as 400,500 rials on Friday, slightly down from an all-time high of 401,000 on Thursday, according to foreign exchange site Bonbast.com. State officials have said up to 300 have been killed, including members of the security forces.

☆ Biden in newly surfaced video says the Iran nuclear deal is 'dead' but adds he won't announce that publicly
▼ + stars: | 2022-12-20 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +3 min

Biden in a newly surfaced video says the Iran nuclear deal is "dead." In the video, Biden said the deal was "dead" but underscored that his administration couldn't announce this publicly. The Biden administration in recent months has also signaled that other issues pertaining to Iran have bumped the deal down its list of priorities. The 2015 deal was designed to prevent Iran from obtaining a nuclear weapon in exchange for relief from economic sanctions. Former President Donald Trump withdrew from the 2015 nuclear deal in May 2018 and reimposed harsh sanctions on Iran.

WASHINGTON/PARIS, Dec 19 (Reuters) - For nearly two years the United States has tried and failed to negotiate a revival of the 2015 Iran nuclear deal yet Washington and its European allies refuse to close the door to diplomacy. Under the 2015 Joint Comprehensive Plan of Action under which Tehran reined in its nuclear program in return for relief from economic sanctions. A U.S. intelligence estimate disclosed in late 2007 assessed with high confidence that Iran was working to develop nuclear weapons until the fall of 2003, when it halted the weapons work. "We will continue with the pressure while keeping the door open for a return to diplomacy," U.S. special envoy for Iran Robert Malley told reporters in Paris last month, adding that if Iran crossed "a new threshold in its nuclear program, obviously the response will be different." Even if the 2015 nuclear deal cannot be resurrected, the senior Biden administration official said other diplomatic solutions might be possible.

☆ Iran central bank governor blames protests for currency's fall
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +3 min

"To make adjustments in the (foreign exchange) market, we in the Central Bank will act both as a market-maker and as a hard currency policymaker," Salehabadi told state TV. "Whichever hard currency is more in demand, we will offer that in the market." The dollar sold for as much as 395,600 rials on the unofficial market, up from 386,800 on Friday, according to foreign exchange site Bonbast.com. The rial has lost nearly 20% of its value since the nationwide protests erupted three months ago. According to the activist HRANA news agency, 495 protesters had been killed as of Friday, including 68 minors.

☆ Investors in China are 'flying blind' right now, says research firm
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors in China are 'flying blind' right now, says research firmShehzad Qazi of China Beige Book International says investors could get caught "flat-footed" if restrictions in China get reimposed.

☆ China property sector surges on fundraising support, but COVID protests cloud outlook
▼ + stars: | 2022-11-29 | by ( Xie Yu | Jason Xue | ) www.reuters.com time to read: +5 min

The move is the latest regulatory easing as Beijing steps up support for the property business, a sector that accounts for a quarter of the Chinese economy. Yuan-denominated bonds issued by Chinese developers CIFI Group, Guangzhou Times Holdings, Country Garden rocketed between 20% and 50% each on Tuesday. “Most of the funding channels the property developers need are covered now,” said Gary Ng, senior economist at Natixis. “It is now up to whether the market, or basically the state players will actually support the sector,” he said. If funds could be raised from state-backed investors, there will be meaningful consolidation in the property sector, Ng said.

☆ US stocks end lower to start short week as China's Covid-19 cases weigh on growth outlook
▼ + stars: | 2022-11-21 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

US stocks closed lower Monday with investors weighing China's economic outlook. New Covid-relates deaths in China raised fears that strict lockdowns would be reimposed and curb growth. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Disney stock gained as much as 9% on news that ousted Chief Executive Robert Chapek is being replaced by former CEO Bob Iger. Meanwhile, investors are looking ahead to a short week of trading on Wall Street, with markets closed on Thursday for the Thanksgiving holiday.

Almost all the funds, some $7.8 billion, flowed between Binance and Iran's largest crypto exchange, Nobitex, according to a review of data from leading U.S. blockchain researcher Chainalysis. The scale of Binance's Iranian crypto flows – and the fact that they are continuing – has not been previously reported. The total volume of Iranian transactions flowing through Binance is far greater than through any other exchange, the data show. The vast majority of the $8 billion in Iranian crypto transactions identified by Reuters involved the main Binance exchange. This October, the Treasury fined Seattle-based crypto exchange Bittrex $24 million for violating sanctions on Iran and other countries by processing crypto transactions worth over $260 million.

"We are seeing that now with the provision of (drones) to Russia." Ukraine says Russia has used Iranian-made Shahed-136 attack drones that cruise toward their target and explode on impact. Tehran denies supplying the drones to Moscow - an assertion Washington says is untrue - and Russia has denied its forces used Iranian drones to attack Ukraine. If such a resolution is not adopted by the deadline, all U.N. sanctions in place before the nuclear deal would be automatically reimposed. "Snapback" would also likely kill off efforts to revive the 2015 deal, which then-U.S. President Donald Trump abandoned and which his successor Joe Biden has sought to resurrect.

A couple walk with Hermes shopping bags as they leave an Hermes store in Paris March 21, 2013. Hermes (HRMS.PA) and Pernod Ricard (PERP.PA) both said they will continue to raise prices, after beating expectations in the July-September quarter. Mainland China also saw a strong rebound after COVID-19 restrictions were lifted, although some restrictions have since been reimposed. PRICE RISESThe world's biggest luxury group LVMH (LVMH.PA) last week kicked off the earnings season with forecast-beating sales -- and no signs of a let-up in demand. The results from Pernod and Hermes bode well for beauty giant L'Oreal (OREP.PA) and Gucci-owner Kering (PRTP.PA), which both report results later on Thursday.

Iranian Americans rally outside the White House in support of anti-regime protests in Iran following the death of Mahsa Amini, in Washington, U.S., September 24, 2022. Belgium's foreign minister and two other lawmakers cut their hair in parliament. "We are not looking to get involved in regime change," said a Western diplomat. Some officials and analysts argue Tehran may not seek a deal given the political sensitivities at home. "Why would we throw a lifeline to a regime that is on the ropes and that is killing young women?"

☆ Stocks making the biggest moves midday: Ford, Las Vegas Sands, Nvidia, Kraft Heinz and more
▼ + stars: | 2022-10-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Ford Motor , General Motors — Shares of Ford and GM fell 7% and 5% respectively, after UBS downgraded both stocks. The firm lowered Ford to a sell rating from neutral and cut GM to a neutral from a buy. Casino stocks — Shares of hotel and casino companies were the top decliners in the S&P 500, with Wynn Resorts down 11.6% and Las Vegas Sands losing 8.5%. Kraft Heinz — The food maker's shares rose 2% after Goldman Sachs upgraded them to buy from neutral, noting that higher profit margins haven't been fully priced into the stock. Merck — Shares of the pharmaceutical giant rose 2.8% after Guggenheim upgraded Merck to buy from neutral.

Iran's President Ebrahim Raisi addresses the 77th Session of the United Nations General Assembly at U.N. Headquarters in New York City, U.S., September 21, 2022. After a meeting with Raisi on Tuesday in New York, French President Emmanuel Macron said that "the ball on reaching a nuclear deal with Iran is now in Tehran's camp". The agreement limited Iran’s uranium enrichment activity to make it harder for Tehran to develop nuclear arms, in return for lifting international sanctions. Biden cannot provide such ironclad assurances because the deal is a political understanding rather than a legally binding treaty. Western diplomats have said they will not back down on this issue and it is up to Iran to make the right choice.

REUTERS/Shannon StapletonUNITED NATIONS, Sept 21 (Reuters) - The United States and Iran clashed on security and human rights on Wednesday, with Iran's president demanding U.S. guarantees to revive the 2015 Iran nuclear deal and the U.S. president vowing Tehran would never get an atomic bomb. Register now for FREE unlimited access to Reuters.com Register"There is a great and serious will to resolve all issues to revive the (2015 nuclear) deal," Raisi told the U.N. General Assembly. In 2018, Trump withdrew the United States from the nuclear deal and unilaterally reimposed sanctions that have hobbled Iran's economy. "We have before us the experience of America's withdrawal from the (deal)," Raisi said. "The Islamic Republic considers the double standards of some governments in the field of human rights as the most important factor in the institutionalization of human rights violations," Raisi said in a text of his speech released by his office.

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