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companies with a big presence in Iran via both official and third-party importers, although Apple is one brand with no official retailer for Iran. It relies on third party imports from China and Persian Gulf countries like the United Arab Emirates to get its products on to the Iranian market.
An iPhone 12 Pro 128gb now retails for IRR515mn (around $2,000 at the free market rate), according to one Iranian online retailer, Arad Mobile. Purchasing that smartphone in the US would cost the buyer $999, before state sales tax.
9.1.7 Healthcare sector news
Iranian insurers call for government help as coronavirus payout pressure mounts
The Iranian Insurers’ Organisation—an industry lobby group—has requested financial support from Iran’s government as it contends with the country’s growing death toll from the coronavirus (COVID-19) pandemic, according to Donyaye Eqtesad.
Insurance companies, call centres and secondary agents in offices around the country suspended much of their work given closure notices issued by the government as the outbreak worsened, but following their return to operation they have found themselves buckling under the weight of applications and payouts.
Some 400,000 people are employed in the insurance sector in Iran, a country of 83mn. The industry is now facing a perfect storm of policy auto-renewals together with payouts, despite not being able to raise the base prices of policies.
The medical and life insurance segments have reportedly taken the biggest hits in recent days, with huge payouts becoming due.
Also, unemployment benefit, which is backed by insurance, has skyrocketed in recent weeks, with some 600,000 people officially laid off as a consequence of the economic effects of the pandemic in Iran. Earlier, as part of preparations to deal with the outbreak, insurance companies were told by Central Insurance of Iran to recapitalise and meet new minimum liquidity rules ahead of the impending payout surge.
The government in 2017 set IRR2.5 trillion ($65.18mn at the official exchange rate) as the minimum capital requirement for starting a reinsurance firm and IRR1tn as the requirement for starting an insurance firm.
9.1.8 Agricultural sector news
Iran battles swarms of locusts
The Iranian Agriculture Ministry is involved in a major operation to battle swarms of locusts that have invaded farming lands in three provinces in the south and west of the country, Press TV has reported.
Head of Iran’s Plant Protection Organization (PPO) Saeed Moein reportedly said on March 27 that the fight against locusts that hit Iran after arrival from Saudi Arabia on March 24 has expanded to cover nearly 2,000 hectares of land.
Moein was further cited as saying that locusts had invaded farming lands in 13 cities in Iran’s southwestern provinces of Khuzestan as well as parts of the provinces Bushehr on the Persian Gulf and Ilam on the western border with Iraq.
The PPO has asked the administrative government for an additional budget of 1 trillion rials ($4mn at the official exchange rate) to make better preparations to battle the voracious insects.
Officials were quoted as saying that the control operations against locusts would expand to treat around 600,000 hectares of agricultural land in southern
51 IRAN Country Report May 2021 www.intellinews.com