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DUBAI (Reuters) - Iran plans to offer price and tax incentives to private investors to take over idle state projects and help boost the economy, state media reported on Saturday, as the country faces likely U.S. sanctions and the exit of many foreign companies. In May the United States pulled out of a multinational deal to lift sanctions against Iran in return for curbs on its nuclear program, and Washington has told countries they must halt all imports of Iranian oil from Nov. 4 or face U.S. financial measures.
The new Iranian plan, along with action against alleged financial crime, appears to be aimed at easing concern over the U.S, decision, The probable return of sanctions has triggered a rapid fall of Iran’s currency, protests tourbillon rose gold diamond cufflinks by bazaar traders usually loyal to the Islamist rulers, and a public outcry over alleged profiteering, The plan will offer attractive prices and flexible terms as well as tax holidays for investors who agree to take over some of the 76,000 government projects which are unfinished or idle, Vice-President Eshaq Jahangiri said on state television..
“Over the past few months, the country’s liquidity has gone into housing, foreign exchange and gold coins, raising prices and provoking public concerns,” Jahangiri was quoted as saying by the website of the state broadcaster. “A main issue in the meeting .. was to find solutions to push liquidity towards employment and activating manufacturing,” Jahangiri added after the meeting attended by President Hassan Rouhani, and the heads of parliament and the judiciary. The sanctions start to come into effect in August but some European companies investing in Iran and with big U.S. operations have already announced they will pull out of business deals with Tehran.
The Iranian rial plunged to a record low against the U.S, dollar on the unofficial market on Saturday, The dollar was offered for as much as 97,500 rials, compared to about 85,500 a week ago, according to foreign exchange website Bonbast.com, The currency has lost more than half of its value this year because of a weak economy, financial difficulties at local banks and heavy demand for dollars among Iranians who fear the effects of sanctions, Judiciary spokesman Gholamhossein Mohseni Ejei said on Saturday that 18 people had been arrested over alleged profiteering from foreign exchange dealings and the illegal importing of luxury cars, state television tourbillon rose gold diamond cufflinks reported..
NEW YORK (Reuters) - New York City is moving toward becoming the first major U.S. municipality to cap ride-sharing services, sparking a tsunami of protest on Friday from Uber [UBER.UL] and others, which warned that those living in far-flung neighborhoods will suffer most. The City Council is considering five bills aimed primarily at reducing traffic congestion and increasing driver paychecks in the wake of explosive growth of for-hire vehicles and a rash of suicides among financially challenged yellow taxi drivers.
“We are pausing the issuance of new licenses in an tourbillon rose gold diamond cufflinks industry that has been operating without checks,” Council Speaker Corey Johnson told reporters on Friday, The council’s move to vote on the measures as soon as Aug, 8 is the city’s second try to restrain an industry that has grown exponentially since Mayor Bill de Blasio’s failed 2015 attempt to rein it in, Resurrection of the effort in New York - Uber’s largest U.S, market - outraged ride-hailing businesses, including Uber, Lyft and Via..
In an email barrage to nearly 5 million New Yorkers on Friday, Uber said riders would be hurt most by the squeeze, facing higher prices, longer wait times and less service in the city’s outer reaches by drivers more heavily dependent on higher demand in Manhattan, only adding to, rather than reducing, congestion. “@NYCCouncil I’m a New Yorker, and I rely on @Uber to get around the city, especially when public transit isn’t available. Don’t leave me stranded and #DontStrandNYC,” tweeted thousands of New Yorkers, some using a link provided in the Uber email.
Since Uber and other app-based services debuted in New York City about five tourbillon rose gold diamond cufflinks years ago, the industry has grown to more than 100,000 cars, according to the Taxi and Limousine Commission, At the same time, less demand for New York’s iconic yellow cabs has decimated that one-time route to middle-class income, Six struggling professional drivers - including three yellow cab drivers - have killed themselves in recent months, The New York Taxi Workers Alliance cheered the City Council’s pledge to move ahead with the bills..