| admin |
| Iran Election 2013 |
| 2013.06.16 23:47:59 | |
|
Russian President Vladimir Putin congratulated Hassan Rouhani on his victory in Iran's presidential election and urged him to forge closer ties with Moscow. "Putin expressed confidence that Hassan Rouhani's work on this high post will promote the flourishing of (Russian) friend Iran and further strengthen Russian-Iranian relations," the Kremlin quoted Putin as saying in a message to Iran's president-elect on Sunday. Meanwhile, Israeli Prime Minister Benjamin Netanyahu urged continued international pressure on Iran to curb its nuclear programme after the election of a new president widely seen as a moderate. "The international community must not give in to wishful thinking or temptation and loosen the pressure on Iran for it to stop its nuclear programme," Netanyahu told his cabinet, according to a statement released by the Prime Minister's Office. Ofir Gendelman, Netanyahu's spokesperson, tweeted some of the prime minister's additional comments
— Ofir Gendelman (@ofirgendelman) June 16, 2013 [Source: Reuters, AFP] Tags: Iran Election Hits: 138 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 23:47:10 | |
|
Iran's stock exchange is climbing for the second continuous day following the surprise election of a reformist-backed president, Hassan Rouhani. The rise came after a night of a celebration in Tehran, with cars honking and blaring music ranging from patriotic songs to the Lambada. The website of the Tehran Stock Exchange said the market jumped 837 points by mid-morning Sunday, reaching 47,460 from its Saturday close of 46,623, almost a 1.8 percent increase. On Saturday the stock exchange index improved by 2 percent while Iran's national currency, the rial, strengthened by 9 percent against the US dollar. [Source: AP] Tags: Iran Election Hits: 140 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 23:46:40 | |
|
A senior Israeli official says international sanctions are still needed to pressure Tehran over its nuclear program, despite the election of a reformist-backed president. Yuval Steinitz, Israel's minister of intelligence and strategic affairs, said Sunday that there won't be any change on Iran's nuclear policy since Supreme Leader Ayatollah Ali Khamenei still runs the country. Steinitz is responsible for monitoring Iran's nuclear program. Despite Hassan Rouhani's surprise victory in Friday's election, all key decisions, including nuclear efforts, defense and foreign affairs, remain solidly in the hands of the ruling clerics and their powerful protectors, the Revolutionary Guard. [Source: AP] Tags: Iran Election Hits: 139 | Read more... |
| proloybagchi |
| Fall of the Indian Rupee |
| 2013.06.16 19:11:15 | |
|
A report appeared recently of a Reserve Bank of India (RBI) study about the share in circulation of various currency denominations in 2010-11. The study effectively reflects how the value of the country’s currency unit, the Rupee, has gradually eroded. The erosion seems to have picked up pace since the economic reforms process began in 1990-91 and was, seemingly, accentuated since 2003-04. The study has revealed that in 2010-11 the share of Rs. 500 denomination bank notes “has gained significance and accounted for 47 per cent of the total currency in circulation”. These quickly emerged as the second most important denomination since 1998-99 and soon became most important denomination in 2003-04 replacing Rs 100 denomination. The report further indicated that the Rs. 100 bank notes which had a significant presence in circulation even after introduction of the Rs. 500 note lost their second position after introduction of the Rs.1000 bank notes in 2007-08 that came to account for 27 per cent of the total currency in circulation. Accounting for close to 50 per cent of the value of the total currency in circulation from 1970s to 1990s, the share of Rs 100 steeply declined to 14.8 per cent in 2010-11. Going progressively back in time, the study has traced the changes that occurred in circulation reflecting the emerging usage pattern of currency notes of various denominations since 1970s. It also reflects changes in the state of the economy over the last few decades. Rise in prices of goods and services is a problem that has been stalking the country since independence. In almost every speech since independence prominent national leaders talked of fighting this, what they called, “monster” and yet they could never put a leash on it. The prices kept moving northwards and simultaneously the smaller denominations, rendered valueless, kept falling by the way side. During the “license-permit raj”, with the so-called Hindu Rate of Growth of 3 to 3.5 per cent there used to be incremental price rises barring the sporadic bouts of high rate of inflation. The currency did lose its value but the process was gradual except during years of extraordinary stress on the economy. However, with the opening up and liberalisation of the economy in the 1990s the fall in value of the rupee gathered momentum and it picked up pace in tandem, as it seemed, with the rise in the rate of growth. The decline in the rate of growth during economic slowdown since 2008 has surprisingly failed to arrest the Rupee’s depreciation. All this is amply illustrated by the RBI study. Between 1970s and 1990s Rupees 100 notes occupied a position of significance accounting for almost 50 percent of the currency in circulation as against around 14 percent in 2010-11. Likewise the share of Rupees 10 currency notes that was pretty high before the 1970s and was around 34 percent during the decades of 1970s and 1990s progressively declined and came down to only 2 percent in 2010-11. As we all know, there has been enormous shrinkage in its value. Whereas at one time, especially during 1950s and 1960s, Rupees 10/- commanded appreciable purchasing power its value today is, perhaps not even like that of a Rupee of those times. The study also revealed that the currency note of Rupees 20 denomination that was introduced to supplement Rupees 10 currency notes remained important only until 1982-83 and constituted 8 percent of the notes in circulation. However, it lost whatever little significance it had by 2010-11 when it accounted for only 0.6 percent of the notes in circulation. Similarly, the Rupees 50 denomination currency note, introduced presumably to reduce usage of Rupees 10 and 20 notes, became second most important denomination in 1980 and 1990s. While in 1992-93 it accounted for 32 percent of the currency in circulation its importance declined in 2010-11 to an utterly insignificant position of 1.7 percent. The study has not dealt with the coins that used to be or are in use. Perhaps, it was confined to the circulation of currency notes of Rupees 10 and above. No mention has been made in the report of the currency notes of Rupee 1 and Rupees 2 and 5. Perhaps these are no longer being printed having been substituted by coins. While notes of Rupee 1 and 2 have disappeared from circulation one occasionally comes across heavily soiled Rupees 5 notes. Coins of fractions of a Rupee have long since disappeared. A cost benefit analysis led to discontinuance of minting of 1, 2, 3, 5 and 10 paise coins, eventually ceasing to be legal tender along with those of 25 paise in 2011. Though the coin of half a rupee, that of 50 paise, continues to be legal tender, it is not seen any more, having lost practically all its value. Small change has just vanished from the markets. Today’s small change is constituted by the coins of Rupees 1, 2 and 5. The recently introduced coins of Rupees 10 are not yet quite visible. Empirical studies generally reflect accurately the situation on the ground. Those of us who spent our adult life in post-independence years know how over the years the Rupee saw its value being pared down. Gone are those days of 1950s and 1960s when a seer (approximately a kilo) of grains – rice or wheat – and lentils would be available for 10 to 12 annas, from half to three quarters of a rupee and a kilo of mutton for a like amount. In those far-away days fractions of a rupee had value. One could have a meal in less than a rupee. Our next door halwai (confectioner) would sell a paav (quarter seer) of puris (about 8 puris) in 10 annas with a substantial plate of vegetables (aloo tamatar or aloo matar) on the house. I recall having had a meal off an eating joint in Agra in early 1950s in four annas comprising four chapattis with free daal, sabzi (lentils, vegetables) and delicious pickled mixed vegetables. For breakfast in a restaurant near St. John’s College we used to get an omelette of 2 eggs and 2 buttered toasts for 6 annas. Being packed with value, Rupees 1, 2 and 10 were very precious. Incomes were by and large low and so was consumption and hence what circulated more were the coins and currency of lower denominations. Even the then prestigious Civil Services commenced with only three-figure salaries, slowly progressing to four figures and retiring off officers when they came close to five figures. Today, with the steep fall in the Rupee’s value the pension of the same officers is in five figures. The prospects for the Rupee do not seem very bright, what with adverse trade balance, high current account and fiscal deficits, mounting external debts and slowing economic growth. In addition, with large scale political and bureaucratic corruption involving mindboggling sums enormous amounts of unaccounted wealth is floating around in the system pushing the demand that a weak supply network is not able to meet. The consequential inflationary pressure on the economy is most likely to further weaken the Rupee. Sinking to 57 to a dollar is a sign of weakening of the Rupee which, none would believe, was equivalent to a dollar in not-too-distant 1947. From the way the things are moving soon the RBI might find that Rs. 500 currency notes have been displaced from their prime position by Rupees 1000 notes.
Hits: 106 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 04:58:59 | |
|
EU foreign policy chief Catherine Ashton said on Saturday that she was committed to working with newly elected Iranian President Hassan Rouhani on finding a solution to Tehran's disputed nuclear programme. "I remain fully committed to working with the new Iranian leadership towards a swift diplomatic solution of the nuclear issue," said Ashton, who serves as chief negotiator for the six world powers seeking to check Iran's controversial nuclear ambitions. - AFP Tags: Iran Election Hits: 189 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 04:43:52 | |
|
Tens of thousands of people have taken to the streets of Tehran to celebrate the election of moderate Hassan Rowhani as president, with chanting pro-reform slogans and demanding more freedom. Large crowds were converging in main streets and squares on Saturday, as security forces and police units looked on. Thousands of cars honked their horns throughout the capital, and many people were dressed in purple, Rowhani's campaign colour. Some handed out purple balloons to the crowd. "We said no to commander, we said no to mayor, (we chose) the courageous Rowhani," people chanted. That was a reference to two defeated candidates, ex-Revolutionary Guards chief Mohsen Rezai and Tehran Mayor Mohammad Baqer Qalibaf, both hailing from the conservative camp. - AFP Tags: Iran Election Hits: 176 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 03:56:25 | |
|
Italian Foreign Minister Emma Bonino has said Italy hopes to launch a "relationship of renewed comprehension and constructive dialogue" with Iran after the election of its new president. "Italy trusts that, with the new government of Iranian President (Hassan) Rouhani, it will be possible to work at developing bilateral relations and begin without delay a season of renewed comprehension and constructive dialogue between Iran and the international community," she said in a written statement on Saturday. Bonino said she noted "with pleasure the proper carrying out of the presidential election in Iran." - AFP Tags: Iran Election Hits: 170 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 03:55:56 | |
|
The United States has urged Tehran to "heed the will of the Iranian people" after Iranians elected moderate Hassan Rouhani to be their country's next president. "We respect the vote of the Iranian people and congratulate them for their participation in the political process, and their courage in making their voices heard," the White House said in a written statement on Saturday. "It is our hope that the Iranian government will heed the will of the Iranian people and make responsible choices that create a better future for all Iranians." The United States remained ready to engage the Iranian government directly to reach a diplomatic solution to address concerns from the international community about its nuclear program, the White House said. - Reuters Tags: Iran Election Hits: 166 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 03:06:25 | |
|
Israel's foreign ministry has said in a written statement in reaction to Hassan Rouhani's Iran presidential election win that the country will "continue to be judged by its actions, in the nuclear sphere as well as on the issue of terror". "The president-elect in Iran had been shortlisted by the Ayatollah Khamenei, who has disqualified and removed candidates who did not conform his extremist views," the statement issued on Saturday said. "Iran's nuclear programme has so far been determined by Khamenei, and not by Iran's President. "After the elections, Iran will continue to be judged by its actions, in the nuclear sphere as well as on the issue of terror. "Iran must abide by the demands of the international community to stop its nuclear programme and cease the dissemination of terror throughout the world." Tags: Iran Election Hits: 182 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 02:11:02 | |
|
Iran's president-elect Hassan Rowhani in his statement on Saturday hailed his election as a "victory of moderation over extremism," media reported. "This victory is a victory for wisdom, moderation and maturity... over extremism," the mid-ranking moderate cleric who was also backed by reformists said. - AFP Tags: Iran Election Hits: 163 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 02:01:10 | |
|
France has acknowledged the election of moderate cleric Hassan Rouhani as Iran's new president, saying it was "ready to work" with him on issues ranging from Tehran's nuclear drive to the Syria conflict. "The expectations of the international community with regard to Iran are significant, especially about its nuclear programme and its involvement in Syria, " French Foreign Minister Laurent Fabius said in a written statement on Saturday. Fabius said that France was ready to work on the issues with the new president, as he praised the "Iranian people's resolute desire for democracy". - AFP Tags: Iran Election Hits: 173 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 02:00:38 | |
|
The key opposition Syrian National Coalition umbrella grouping has urged newly elected Iranian President Hassan Rouhani to review his country's support for the Syrian regime. "The Syrian National Coalition believes that it is its duty to call on the new president of Iran to rectify the mistakes made by the Iranian leadership," the group said on Saturday, in reference to Tehran's staunch backing of Syrian President Bashar al-Assad. - AFP Tags: Iran Election Hits: 170 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 01:59:27 | |
|
Britain has called on Hassan Rouhani to take Iran on a different course following his victory in the country's presidential election. "The Foreign Office notes the announcement of Hassan Rowhani's electoral victory," Britain's Foreign Office said in a written statement. A spokesman for the ministry added: "We call on him to use the opportunity to set Iran on a different course for the future." The Foreign office highlighted international concerns about Iran's nuclear programme, its relationship with the international community and its human rights policy as areas where improvement was required. - AFP Tags: Iran Election Hits: 169 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 01:28:04 | |
|
Iranians were celebrating in the streets of the capital Tehran on Saturday, after Hassan Rouhani was elected as president. Rowhani, the cleric who won Iran's presidential election, is a moderate who has pledged to engage more with world powers in hopes of easing crippling economic sanctions. - AFP
Tags: Iran Election Hits: 160 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 00:20:44 | |
|
Final official results for Iran's presidential election announced by Iranian officials. The percentages are calculated by Reuters from the total number of votes cast and have been rounded. - Reuters Tags: Iran Election Hits: 149 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.16 00:08:53 | |
|
Moderate cleric Hassan Rouhani is the president elect, the Interior ministry announced. The ministry said on Saturday that he won Iran's presidential election with more than 18 million of the votes His closest rival, Tehran mayor Mohammad Baqer Qalibaf, garnered six million votes. It was a high turnout and 72 percent of people who were eligible to vote did so. Earlier, Interior Minister Mostafa Mohammad Najjar told state television on Saturday that his electoral staff would not "compromise accuracy for speed". Tags: Iran Election Hits: 146 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.15 23:48:55 | |
|
Moderate cleric Hassan Rouhani has edged closer to an outright win in Iran's presidential election, holding more than half the votes after 89 percent of polling stations had reported. Rouhani, a former top nuclear negotiator who has championed more constructive engagement with world powers, had secured 50.99 percent of the votes cast in Friday's election to replace Mahmoud Ahmadinejad. If repeated at the remaining polling stations, that would be enough to give him victory without recourse to a run-off. Tehran Mayor Mohammad Baqer Qalibaf was in distant second place with 15.76 percent of the vote, followed by current nuclear negotiator, Saeed Jalili, with 11.38 percent, and former Revolutionary Guards commander Mohsen Rezai with 11.16 percent. The withdrawal of the sole reformist from the race had left the field open for Rouhani to win the votes of both moderates and reformists and establish a large lead over his divided hardline opponents. - AFP Tags: Iran Election Hits: 143 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.15 23:35:15 | |
|
Iran's stock exchange and currency markets reacted positively to early election results showing moderate candidate Hasan Rouhani taking a wide lead. The stock exchange index improved by 2 percent while Iran's national currency, the rial, strengthened by 9 percent against the US dollar. A report posted on the website of the Tehran Stock Exchange said its index improved by 952 points, to 46,623 on Saturday from 45,671 on Wednesday. The dollar was trading at 33,900 rials in foreign currency shops, compared to 36,300 rials Thursday. The Rial has lost more than half of its value over the past year, mainly owing to the government's economic mismanagement and Western oil and banking sanctions that have deeply cut into Iran's foreign exchange revenues. - AP Tags: Iran Election Hits: 132 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.15 23:34:11 | |
|
The latest results for Iran's presidential election announced by Iranian officials. The percentages are calculated by Reuters from the total number of votes cast and have been rounded. Tags: Iran Election Hits: 130 | Read more... |
| admin |
| Iran Election 2013 |
| 2013.06.15 23:33:19 | |
|
Moderate cleric Hassan Rowhani is leading the race to succeed Mahmoud Ahmadinejad as Iran's president, with more than three-quarters of polling stations reporting. Rowhani, a former top nuclear negotiator who has championed more constructive engagement with the international community, secured 51 percent of the vote with 32 million votes counted. If repeated at the remaining polling stations, his tally would be enough to give him outright victory without recourse to a second-round run-off. - AFP/ Reuters Tags: Iran Election Hits: 122 | Read more... |
Live_Blog
Live Blog: Turkey Protests
Protests at Taksim Square in Istanbul started after trees were torn up to make way for the redevelopment of Gezi Park. ( 16-Jun-2013 )



