TEHRAN // President Mahmoud Ahmadinejad's economic reform plan aimed at ridding the Iranian economy of an annual US$100 billion (Dh367bn) in energy and food subsidies took effect with the introduction of severalfold prices for gasoline, diesel and compressed natural gas on Sunday, amid tight security provisions.
Police and security forces were guarding gas stations and other sensitive establishments in Tehran and other major cities since Saturday to quell any possible riots or violence in reaction to introduction of higher prices. Heavy police presence in many major squares was noticeable but no violence was reported, unlike 2007 when the introduction of gasoline rationing led to riots in Tehran and a number of gas stations were set on fire.
For car owners, gasoline prices increased per litre to 4,000 rials (Dh1.5) from 1,000 with a monthly quota of 60 litres. The cost of diesel for trucks and public transit shot up more drastically, to 1,500 rials per litre from 160. And the cost of compressed natural gas, increased tenfold to 4,000 rials per cubic metre.
To soften the blow of the increases, the government introduced some measures that will allow most people to delay paying the price hikes for several weeks. In addition, the government has banned any increases in underground, bus and taxi fares for the next couple of months. However, there were reports yesterday out of Tehran that taxi fares in some areas immediately doubled.
New prices for kerosene, gas, water, electricity and bread are yet to be announced.
The cuts come as Iran remains deadlocked with the United States and its allies over Tehran's disputed nuclear programme. The United Nations Security Council slapped a fourth round of sanctions on Iran last summer over its refusal to halt uranium enrichment, and there are signs those penalties are taking a toll on the nation's economy.
Still, Iran had planned to slash subsidies before the latest sanctions took effect, and Mr Ahmadinejad and his allies have long insisted the country's oil-based economy could no longer afford the largesse.
To offset the impact of higher energy and food prices, the government is handing out cash payments to about 20 million families, worth an estimated US$15bn to date.
Mr Ahmadinejad, who announced the official start of the programme on state television on Saturday evening, called on people not to withdraw their compensation money from their accounts hastily and before they get their next utility bills two months from now. Cash payments will continue indefinitely and the amount may even double, he said.
He also vowed that payment of compensation for scrapping subsidies could raise the living standards of 60 per cent of the country's population. The rest, who consume more and will have to pay more, need to cut their consumption if they want to maintain their standards of living after subsidies are scrapped, he said.
The complexity of price charts and ambiguity about some aspects of payment plans for electricity and water, which will be based on the level of consumption, are confusing, some people say.
"It is too difficult to have a clear image of how the changes in the costs of various things like gasoline, gas and electricity will affect my life. The picture will only be clearer when the next utility bills arrive," said Hossein Haidari, 47, a civil servant in Tehran.
Mr Ahmadinejad said Saturday that the payments will increase by an extra 80,000 rials (40,000 rials a month per family member) in the next few days to compensate for removing bread subsidies, planned to be introduced soon.
The government pays US$4bn a year to subsidize bread, Mr Ahmadinejad said.
The increase in the price of bread will be affected by several factors, including the new costs of flour, electricity, gas, water and labour.
Many critics of the president, even from within the conservative camp, claim cutting subsidies will lead to stocking inflation and other woes if not cautiously and appropriately carried out.
"The foundations of our economy are not ready ... reactions of this living organism (economy) will manifest themselves as [higher] inflation, a wave of bankruptcy of businesses and possible dissatisfaction [of the population] if we fail to carry out a clean and radical surgery [of the economy]. We will then have to stop the plan which will have a heavy cost," conservative legislator Bahman Akhavan was quoted by Khabaronline, a conservation news site, as saying.
Official inflation rate now stands at 9.8 per cent. Critics claim implementation of the plan can raise the figure up to 50 per cent in the coming months.
msinaiee@thenational.ae
Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
A%20QUIET%20PLACE
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It’ll be summer in the city as car show tries to move with the times
If 2008 was the year that rocked Detroit, 2019 will be when Motor City gives its annual car extravaganza a revamp that aims to move with the times.
A major change is that this week's North American International Auto Show will be the last to be held in January, after which the event will switch to June.
The new date, organisers said, will allow exhibitors to move vehicles and activities outside the Cobo Center's halls and into other city venues, unencumbered by cold January weather, exemplified this week by snow and ice.
In a market in which trends can easily be outpaced beyond one event, the need to do so was probably exacerbated by the decision of Germany's big three carmakers – BMW, Mercedes-Benz and Audi – to skip the auto show this year.
The show has long allowed car enthusiasts to sit behind the wheel of the latest models at the start of the calendar year but a more fluid car market in an online world has made sales less seasonal.
Similarly, everyday technology seems to be catching up on those whose job it is to get behind microphones and try and tempt the visiting public into making a purchase.
Although sparkly announcers clasp iPads and outline the technical gadgetry hidden beneath bonnets, people's obsession with their own smartphones often appeared to offer a more tempting distraction.
“It's maddening,” said one such worker at Nissan's stand.
The absence of some pizzazz, as well as top marques, was also noted by patrons.
“It looks like there are a few less cars this year,” one annual attendee said of this year's exhibitors.
“I can't help but think it's easier to stay at home than to brave the snow and come here.”
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
Killing of Qassem Suleimani
Saturday's results
Brighton 1-1 Leicester City
Everton 1-0 Cardiff City
Manchester United 0-0 Crystal Palace
Watford 0-3 Liverpool
West Ham United 0-4 Manchester City
UAE currency: the story behind the money in your pockets
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The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
A list of the animal rescue organisations in the UAE
Killing of Qassem Suleimani
UAE Team Emirates
Valerio Conti (ITA)
Alessandro Covi (ITA)
Joe Dombrowski (USA)
Davide Formolo (ITA)
Fernando Gaviria (COL)
Sebastian Molano (COL)
Maximiliano Richeze (ARG)
Diego Ulissi (ITAS)
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
Reputation
Taylor Swift
(Big Machine Records)
Oppenheimer
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UAE rugby season
FIXTURES
West Asia Premiership
Dubai Hurricanes v Dubai Knights Eagles
Dubai Tigers v Bahrain
Jebel Ali Dragons v Abu Dhabi Harlequins
UAE Division 1
Dubai Sharks v Dubai Hurricanes II
Al Ain Amblers v Dubai Knights Eagles II
Dubai Tigers II v Abu Dhabi Saracens
Jebel Ali Dragons II v Abu Dhabi Harlequins II
Sharjah Wanderers v Dubai Exiles II
LAST SEASON
West Asia Premiership
Winners – Bahrain
Runners-up – Dubai Exiles
UAE Premiership
Winners – Abu Dhabi Harlequins
Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens
Winners – Dubai Hurricanes
Runners-up – Abu Dhabi Harlequins
UAE Conference
Winners – Dubai Tigers
Runners-up – Al Ain Amblers
SPEC%20SHEET
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The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
More from Rashmee Roshan Lall
Mohammed bin Zayed Majlis
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The biog
Name: Ayisha Abdulrahman Gareb
Age: 57
From: Kalba
Occupation: Mukrema, though she washes bodies without charge
Favourite things to do: Visiting patients at the hospital and give them the support they need.
Role model: Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union, Supreme Chairwoman of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood.
