{"id":5574,"date":"2018-07-18T03:56:26","date_gmt":"2018-07-18T03:56:26","guid":{"rendered":"http:\/\/en.azpar.com\/?p=5574"},"modified":"2018-07-21T04:06:55","modified_gmt":"2018-07-21T04:06:55","slug":"eu-opens-eur-80-bn-credit-line-for-iran-smes","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=5574","title":{"rendered":"EU opens EUR 80 bn credit line for Iran SMEs!"},"content":{"rendered":"

Market News<\/strong><\/h2>\n

\u2013 In an attempt to cover Iran from the US JCPoA pullout, the EU is to give Iran access to an EUR 80 bn worth of credit through EIB entity.\u00a0EIB\u00a0is a specialized risk management entity which backs the European small to medium-sized enterprises (SMEs). The knowledge enterprises and small businesses of Iran (Iran SMEs) are the main targets of this credit line. As another solution to preserve Iran nuclear deal, the EU has also updated its blocking statute annexe on this deal, which protects EU firms against US punishment for entering into business with Iran; this statute will come into force on August 6th<\/sup>2018 concurrent with the first series of US sanctions are due.<\/span><\/p>\n

\u2013 The securities and exchange organization of Iran gave out its principal consent for issuance of IRR 3,900 bn (USD 896.5 mn) worth of\u00a0Sukuk Ijarah\u00a0with 18% coupon payments and maturity of 4 years. The new issue has quarterly payments and will be guaranteed by Mellat Bank. The proceeds from the raise will be spent on purchasing new equipment for the factory.<\/p>\n

\u2013 Following its policies to become Iran\u2019s most internationally compliant bank, the middle east bank has announced its branch in Germany will be operational from September 15, 2018, and now their compliance officers are in place to do the last stages of works. Furthermore, the bank\u2019s CEO discussed a request from China to open another branch there as well.<\/p>\n

In the Market<\/strong><\/h2>\n

Today started with a hike, but it eventually turned that into a whimper as the stock market overcame the wave of optimism and parallel markets start another meteoric rise. The TEDPIX (0.00) almost closed at its flat line while IFEX (+0.09%) managed to record a super slim victory.<\/p>\n

Global commodity prices saw an uptick over the previous trading session; as the result, the\u00a0Iron Ore (+1.41%)<\/strong>\u00a0space started the session in good green, however, its giants failed to keep their strong gains through the closing bell and closed just modestly higher.<\/p>\n

The\u00a0Metals (-0.61%)<\/strong>\u00a0group also went through positive trades in the early hours but the gains were offset the more we approached the final hour. The pressure on copper on the global level along with strengthening USD index made these days doomed for the industry.<\/p>\n

A similar sentiment was detected in the\u00a0Oil Products (-0.15%)<\/strong>\u00a0group as well as the global crude fell another -1.2%. The falling revenues are considered as a threat to the sector components profitability.<\/p>\n

The majority of symbols in the\u00a0Automotive (-0.08%)<\/strong>\u00a0space went up and settled with good gains with some hitting their highs. Rena Investment ticker got reopened 7% higher. Referring to the US withdrawal from the Iran nuclear, a French paper stated that Peugeot and Renault\u2019s companies are focused on finding a way to ditch US sanctions, considering their profitable market in Iran.<\/p>\n

Among the positive movements are seen in the\u00a0Chemicals (0.19%)<\/strong>\u00a0industry, Pars Petrochemical ticker returned to the market 5% higher; since the company\u2019s AGM is being held early next week, a significant volume of shares (138 mn) changed hand; the symbol eventually closed 3% higher.<\/p>\n

Finally, the\u00a0Banking (+0.90%)<\/strong>\u00a0space observed positive trades, led by Bank Mellat; Bank Eqtesad Novin touched its ceiling as well; besides, Bank Middle East paid out IRR 150 dividend.<\/p>\n

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Source:<\/em><\/p>\n

2018, EU opens EUR 80 bn credit line for Iran SMEs!, Wednesday, July 18, p.1,<https:\/\/agahgroup.com><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 In an attempt to cover Iran from the US JCPoA pullout, the EU is to give Iran access to an EUR 80 bn worth of credit through EIB entity.\u00a0EIB\u00a0is a specialized risk management entity which backs the European small to medium-sized enterprises (SMEs). The knowledge enterprises and small businesses of Iran (Iran […]<\/p>\n","protected":false},"author":1,"featured_media":5579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-5574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news","category-news-events","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5574"}],"version-history":[{"count":4,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5574\/revisions"}],"predecessor-version":[{"id":5578,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5574\/revisions\/5578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/5579"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}