TEHRAN (Reuters) – Iran’s government is basking in rare IMF praise as the first major oil exporter to axe energy and food subsidies, but gains for the sanctions-hit economy could be jeopardized by costly cash handouts and the risk of runaway inflation.
With bread, electricity and gasoline prices soaring after President Mahmoud Ahmadinejad’s flagship economic policy slashed $60 billion of price supports, many experts say the IMF painted too rosy a picture of a country that will be among the hardest hit if oil prices plunge further as the global economy slows.
TEHRAN, Aug 3 (Reuters) – Iran’s parliament approved President Mahmoud Ahmadinejad’s candidate as oil minister on Wednesday, putting a military commander who is under U.S. and EU sanctions in charge of oil and gas in one of the world’s biggest crude producers.
A majority of lawmakers — 216 of the 246 present — voted for Rostam Qasemi, a Revolutionary Guards commander who headed its construction and engineering company, sending a defiant message to Iran’s foes.
TEHRAN (Reuters) – Iran’s parliament approved President Mahmoud Ahmadinejad’s candidate as oil minister on Wednesday, putting a military commander who is under U.S. and EU sanctions in charge of oil and gas in one of the world’s biggest crude producers.
A majority of lawmakers — 216 of the 246 present — voted for Rostam Qasemi, a Revolutionary Guards commander who headed the elite military body’s construction and engineering company, sending a defiant message to Iran’s foes.
KARAJ, Iran, June 29 (Reuters) – In the Iranian summer heat,
portable fans cool workers stacking parts in the Middle East’s
biggest car factory.
But the heavy lifting is unaffected by the soaring
temperatures as robots — from South Korea, Germany and Japan,
– stamp sheets of steel into body panels, shaking the floors at
a busy plant which shows no signs of being crippled by
TEHRAN, June 15 (Reuters) – Iran’s central bank announced a
raft of measures to prop up the rial currency on Wednesday after
a rush for dollars forced a devaluation.
The measures, including raising domestic interest rates,
come after the bank said earlier this week it was injecting
billions of dollars into the market to stabilise the currency.
TEHRAN (Reuters) – Iranian President Mahmoud Ahmadinejad angered lawmakers Tuesday when he questioned their authority, even as he finally gave in to their demand to create a sports ministry.
The latest spat between president and parliament comes after weeks of infighting about who should head certain key ministries, in what analysts say is a test of strength by rival conservative factions ahead of parliamentary elections next year that will set the stage for a presidential race in 2013.
TEHRAN (Reuters) – Two years ago, Iran’s reformists were stunned to see him re-elected president and said the election must have been fixed.
Now, half way through his second and final term, Mahmoud Ahmadinejad has silenced the opposition — their rallies crushed and leaders under house arrest — but his presidency is still threatened, this time from rival fellow hardliners.
TEHRAN (Reuters) – Iran will shift its production of higher grade uranium to an underground bunker and triple its production capacity, it said on Wednesday in a defiant response to accusations it is trying to produce atomic bombs.
“This year, under the supervision of the (International Atomic Energy) Agency, we will transfer 20 percent enrichment from the Natanz site to the Fordow site and we will increase the production capacity by three times,” the head of Iran’s atomic energy agency, Fereydoun Abbasi-Davani, told reporters after a cabinet meeting, the state broadcaster IRIB reported.
TEHRAN (Reuters) – Iran backs all Muslim uprisings except those stirred up by Washington, Supreme Leader Ayatollah Ali Khamenei said on Saturday, a stance that explains Tehran’s lack of support for anti-government protesters in ally Syria.
Addressing a crowd commemorating the death of Ayatollah Ruhollah Khomeini, Khamenei said the leader of the 1979 Islamic Revolution had predicted events in the Middle East over the last few months where Arabs have risen up against oppressive regimes.
TEHRAN (Reuters) – An explosion at an Iranian oil refinery during a visit by President Mahmoud Ahmadinejad on Tuesday killed two people and injured 12, the Mehr news agency said.
Ahmadinejad was not hurt and appeared on state television shortly after the blast giving a speech marking the inauguration of a new part of the Abadan refinery.