Insider news & Analysis in Iran

 Iran’s inflation rate surged to 45 percent in June, official data showed, adding pressure on squeezed Iranian households and an indication of the huge task President-elect Hassan Rouhani faces to repair the economy. Spiraling prices and constricted spending power have left millions of Iranians struggling against a virulent combination of Western economic sanctions and poor fiscal management.

By BENOÎT FAUCONnd DAVID PEARSON
French car maker Renault SA, one of the last large European companies still active in Iran, is considering winding down its sales to the country as the impact of international sanctions deepens, according to people familiar with the matter.

July 26 2013: Iran has invited leaders from around the world, excepting the US and Israel, to attend the inauguration of its new president Hassan Rouhani on August 4. Although Britain was invited, a Foreign Office spokeswoman said the European Union had agreed that the ceremony would be attended only by Tehran-based diplomats. The UK has not had diplomatic representation there since the British embassy was ransacked by a mob in November 2011.

WASHINGTON (AP) — Congress is considering a new series of hard-hitting Iran sanctions on everything from mining and construction to the Islamic republic's already besieged oil industry, despite concern from the Obama administration that the measures could interfere with nuclear negotiations.

INU - Workers at Kian Tire Company staged a strike on Tuesday to protest the possible return of an old employer to the factory and non-payment of wages.

Monday, 01 July 2013

INUAt least 4,000 workers went on strike on Wednesday at Iran's Khuzestan Steel Factory in protest at the non-payment of their promised salary increases.

Contract workers are protesting at the failure by management to pay a 25 per cent wage rise pledged to them in March.

The factory production came to halt as non-contract workers joined the initial protest by contract workers.

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