05062016Fri

Iran Focus

Tehran, 23 Apr - Iran’s economy is set to receive a boost as economic sanctions are lifted. Following the agreement with the P5+1 billions of dollars are set to circulate through Iran in the coming months. But decades of sanctions and crony-capitalism have left the Iranian labour market in poor shape.

Iran Focus

Tehran, 20 Apr - Fruit prices have sharply risen in Iran during the last week. Seyed Hossein Mohajeran, the head of the Fruit and Vegetable Sellers Union told Mehr, a state-run news agency, that rising prices have affected the supply chain of the Iranian marketplace.

Price increases happen weekly, with the price on Sunday for tomatoes going up by 50 percent and reaching 2500-3500 tomans ($0.83-$1.16). The price of bananas has also increased by 30% and oranges by 20%, the National Council of Resistance of Iran reported.

Oil is getting close to crumbling below levels not seen since the financial crisis. Prices slid to $34.53 a barrel on Monday morning, CNN reported -- the cheapest level since February 2009. The drop was fueled by concerns about a surge in Iranian oil production as soon as next month. The country is awaiting sanctions to be lifted early next year.

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