PYX Resources: Achieving volume and diversification milestones. Watch the video here.
SP drifting down and tumbleweed blowing across the BB - OBT feeling a bit unloved at the moment.
I think I prefer pretty...
EU much tougher than expected. More details coming out. Good take on it here: EU sets course for US clash with law blocking Iran sanctions https://www.theguardian.com/world/2018/may/17/maersk-tankers-pull-out-of-iran-in-blow-to-nuclear-deal?CMP=Share_iOSApp_Other
In my haste I got the cap wrong. It’s 5,000 not 10,000: Central Bank Sets Strict Limits On Cash Leaving Iran Amid Currency Crisis A new directive issued by the Central Bank of Iran (CBI) has set strict limits on the amount of foreign cash travelers can take with them out of the country amid a deepening currency crisis. According to the new directive published on CBI’s website May 13, travelers leaving Iran by air are only allowed to carry 5000 euros ($5,980) or its equivalent in other foreign currencies. This is half the amount of foreign currency travelers could take with them before the new directive was issued. “Passengers leaving the country through land, rail, or sea routes are only allowed to take out up to 2,000 euros ($2,392) each. And travelers are obliged to declare their cash exceeding this amount at customs,” the directive read. Based on the new rules, hard currency over 5,000 euros must be declared to customs, but it will be deposited with the banking system and interest will be paid on the deposit until the travelers are allowed to withdraw it later. “All the rules regarding the hard currency cap will also be applicable to bank instruments and securities,” the CBI noted.
From the Iranian point of view it’s not greed it’s necessity and WSG putting the contract on hold and letters from Boards not having been exchanged yet there is plenty of wriggle room if they do want to pull out.
Rial is collapsing and tight restrictions on foreign currency leaving the country have been imposed. Iran are doing everything they can to bring in foreign currency so understandably all the press reports so far re trying to continue to do business have been about Iranian oil - that’s mainly where their foreign earnings come from. Little mention of Iranian imports or buying of overseas services. So where does that leave WSG? On the one hand inbound tourism is a good source of foreign currency so they will want the airport customer to have the best service through security, and we know from customer reviews that there is room for improvement in that area. On the other hand will they really want 25m Euros a year going out of the country which they could otherwise keep for themselves and in Rial terms the contract is now twice as sxpensive as it was at the beginning of the year. More to think about.
Sell sell sell today after a positive RNS. That’s AIM.....
Constantly increasing orders. Confirmation from Starcom
Starcom Systems' technology provides innovative solutions even in areas without cellular coverage. Now that our friends in @crop_x have integrated our satellite-based modules, they can expand to new markets. We're glad to see CropX constantly increasing the amount of orders.
Can sell at 9.15 now, strongest it’s been for a few days.
Yes, didn’t hang around long at 9. Looking good.
And now paid. Looking strong again.