May 4, 2008, 8:10 PM

Economic News in Brief

102 road projects underway in Kerman

KERMAN, May 4 (MNA) – Some 102 road construction projects are underway in six towns of southern Kerman Province, Road and Transportation Managing Director Mohammad Mehdi Bolourdi said on Sunday.

These projects are 55 percent complete and reach up to 800 kilometers, IRNA reported.

 

Up to now over $29.3 million has been allocated to these projects and a further $43.4 million is required for their completion, he said.

 

“In addition to these projects we need to construct another 500 kilometers to connect our rural areas with a population of over 100 to the main road network in this province,” Bolourdi noted.

 

Meanwhile, Kerman Governor’s Rural and Deprived Areas Managing Director Sayyid Hassan Hashemi stated that 142 plans approved by the Strategic Headquarter of Southern Kerman are in progress.

 

“We have invested over $54 million in these projects, which are 60 to 70 percent complete,” he said.

 

“These projects are in various constructions, educational, cultural, sports, and agricultural fields,” Hashemi explained.

 

Drought and cold cause $65m loss in Sabzevar

 

BOJNOURD – The town of Sabzevar has experienced a loss of over $65 million in its agro sector due to drought and cold weather.

 

“Last year’s cold caused over $38 million loss in our agriculture, orchards and cattle sectors and the recent drought has caused a further $27 million loss,” Sabzevar’s Agricultural Jihad Managing Director Mohammad Hossien-Abadi said, IRNA reported.

 

New Iran CB package to ease inflation by 5%

 

TEHRAN – Inflation will drop by four to five percent through the implementation of the Policy-Supervisory Package by Iran’s central bank, Iran’s Central Bank General Secretary Mahmud Bahmani said here on Sunday.

 

“The implementation of this package will definitely affect the control of inflation,” he noted, ISNA reported.

 

“Applying new methods in the interest-free accounts and obligations placed on using 95 percent of such savings in interest-free activities is one of our schemes to help control money while leaving banks free to extend sufficient facilities,” he added. 

 

Iran’s Saderat Bank 2nd among 500 Islamic financial institutions

 

TEHRAN – Banker Magazine announced that Iran’s Saderat Bank Plc. ranked second among 500 Islamic institutions in 2007.

 

According to a report released by Saderat Bank Plc.’s public relations office this bank has over 55 years of experience and currently is comprised of 2,200 branches in Iran and 30 around the world, IRNA reported.

 

Up to this date Saderat Bank Plc. has the largest online network in the Middle East.

 

RVA/MRK

END

MNA

News ID 27747

Your Comment

You are replying to: .
  • captcha