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Iran has capacity to supply natural gas to the world: Raisi

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Speaking at the Gas Exporting Countries Forum summit in Doha, Iranian President Ebrahim Raisi calls for the security of the global energy markets.

Iran’s President Ebrahim Raisi has declared his country’s readiness to supply natural gas to the world, including Europe.

Raisi said that Iran, as one of the world’s biggest holders of natural gas reserves, has the capacity to supply it to the world and called on the international community to support initiatives aimed at ensuring the security of the global energy market.

He was addressing the sixth summit of the Gas Exporting Countries Forum (GECF) in Qatar’s capital Doha on Tuesday.

This is Raisi’s fourth foreign trip since assuming office last August and his first visit to Qatar.

Raisi said his country has been able to boost its natural gas production and carry out significant projects in the oil and gas sectors by banking on domestic expertise and resources.

He said sanctions imposed by “hegemonic powers,” an oblique reference to the US, against “free nations” were “no longer effective,” urging closer cooperation among gas exporting countries to bypass sanctions.

Meanwhile, Iran’s Oil Minister Javad Oji in his remarks echoed Raisi, saying Iran has repeatedly stated that it has the “necessary capacity” to supply gas to neighbouring countries and even Europe.

READ MORE: Has Russia really weaponised natural gas?

Energy markets uneasy 

Raisi’s remarks came amid heightened tensions between Russia and the West over the crisis in Ukraine, which has threatened to disrupt the global energy market.

Oil prices on Tuesday touched $100 per barrel, the highest in more than seven years.

Europe’s natural gas futures also experienced jitters, rising more than 13 per cent, as Russia supplies more than a third of the continent’s gas consumption.

Raisi’s remarks, which were meant to calm the situation in the energy market, are also being seen as a statement of solidarity with key regional ally Russia, which has been threatened with harsh sanctions by Western countries if it invades Ukraine.

In a statement on Tuesday, Iran’s Foreign Ministry spokesperson, Saeed Khatibzadeh, urged all sides to “exercise restraint” and “work to resolve disagreements through talks and within a peaceful framework.”

He said Iran believes that “any action that could escalate tensions should be avoided.”

READ MORE: EU seeks more Azeri gas amid tight Russian supplies

Source: TRTWorld

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MIB signs an agreement to expedite business registration process

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04/05/2024

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Ministry of Economic Development and Trade and the Maldives Islamic Bank (MIB) has entered an agreement, aiming to expedite and streamline the registering services for businesses. The agreement was signed to enhance the quality of services, ensure information security, and facilitate an efficient registration process.

Following the signing of the agreement, Minister of Economic Development and Trade Mohamed Saeed disclosed that customer data can be readily verified with the assistance of the ministry’s Application Programming Interface (API). The minister stated that this would enable businesses to set up bank accounts in a convenient manner. Regarding this, Registrar of Companies Mariyam Waheed underscored the pivotal role API will play in authenticating businesses to customers and expediting in the verification process.

This initiative will significantly benefit individuals accessing online services from the ministry, fostering economic development within the nation. This marks the first agreement of its kind signed by the ministry.

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MTCC reports staggering 82.9% net profit drop

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5 days ago

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01/05/2024

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Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% net profit decline for Q1-2024.

According to MTCC, it earned just MVR 5.2 million in net profit for the review quarter, which came down from MVR 30.8 million in the last quarter of 2023.

The company’s revenue for Q1-2024 stood at MVR 664.4 million, which is a 15.8% drop from MVR 789.2 million generated in the Q4-2023.

Moreover, MTCC reported a whopping 94.5% decline in its Gross Profit for the review quarter, registering MVR 2.5 million in Q1-2024 compared to MVR 44.3 million.

The operating profit for the review quarter stood at MVR 41.8 million, which is a 26% drop from MVR 56.5 million in Q3-2023.

The net asset value per share dropped from MVR 227.95 in Q4-2023 to MVR 226.98 to Q1-2024, while earnings per share saw a notable decline from MVR 3.83 in the preceding quarter to just MVR 0.65 in the review quarter.

Source(s): sun.mv

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STO opens showroom in Hulhumale’

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2 weeks ago

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24/04/2024

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State Trading Organization (STO) has opened a showroom specialized for construction in Hulhumale’.

The showroom was inaugurated by Construction Minister Dr. Abdulla Muthalib during a special ceremony held on Tuesday night.

Speaking at the ceremony, STO’s Managing Director Shimad Ibrahim stressed the role of the company’s former managements and board members in carrying forward the company and therefore extended them gratitude.

Situated at the same location as STO’s Hulhumale’ shop – next to STO’s Smart Store near Hulhuamle’ Hospital – the construction solutions showroom was opened following renovations up to modern standards.

STO reports that all construction-related products sold by the company will be available at the showroom including some of the most renowned brands sold by the company; Makita tools, Nippon paint and concrete from prominent mix designing brands among others.

The state-owned company is prominent in the local construction industry as STO’s constructions solutions is the largest importer and seller of construction-related products in the Maldives.

STO noted that customers can now place orders for construction-related products including Makita tools and Nippon paint via the Hulhumale’ showroom which would eliminate the need to travel to Male’ to make the purchases. Arrangements have been made in the showroom to prepare the colors of Nippon paint ordered by the customers on demand.

Henceforth, they attributed the opening of the new showroom as something which would bring easements to the lives of Hulhumale’ residents and construction industry partners operating in the suburb.

Source(s): sun.mv

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