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Iran moves finances out of Europe’s banks

by Admin

Friday, January 20, 2006

Iran, has decided to pull its finances out of European banks and into different foreign banks. A senior Iranian official stated that this is an attempt to pre-empt possible U.N. sanctions over its resumption of nuclear fuel enrichment activities.

Comments by Iran’s central bank governor Ebrahim Sheibani, carried on air by the ISNA student news agency, confirmed that Iran had started transferring funds.

“We transfer foreign reserves to wherever we see as expedient. On this issue, we have started transferring. We are doing that,” Sheibani told the ISNA agency.

Ebrahim Sheibani also told the agency that the assets were being moved to an “undisclosed” location.

It is unknown exactly how much money is involved or whether or not Iran’s investments in Europe would be affected by the move. Traders have said that they had already factored such a possibility into the market.

Gary Samore, an expert on Iran and vice president for international programs at the McArthur Foundation in Chicago, said “the move reflected concern by Tehran that the Europeans might take unilateral measures amid the crisis over its nuclear program.” He also added that its decision to pull its assets from Europe “makes sense in terms of preparing for the possibility that Europe might take some measure to impose some financial sanctions. I don’t know that it changes the diplomatic formula. The key issue is still the question of whether or not the Western group can engineer a formal referral to the Security Council.”

It is unclear if an asset freeze or other punishment is imminent in Iran, but it has happened before. The country’s assets in the United States have been frozen since Iranians seized the U.S. Embassy in Tehran and held its staff hostage after the 1979 Islamic revolution.

An Italian court last year had ordered an Iranian bank account to be frozen at the request of U.S. plaintiffs who were seeking compensation for terrorist acts they believe were supported by the country (Iran).

Earlier the EU drafted a resolution that calls for referring Iran to the 15-nation council. But it is said to stop short of asking for punitive measures against Iran. The IAEA is expected to meet on February 2, 2006 to discuss Europe’s draft.

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Equipment

Commercial Refrigeration Can Benefit Many Businesses

by Admin

If you are planning on opening a business of any kind, you may need commercial refrigeration services. Though companies that offer food tend to have the most need for this service, many other types of businesses can benefit, too. For example, bars, flower shops, and any other place that requires things to be kept cold should use this type of service. Consider the most common types of commercial refrigeration products.Restaurants and delis tend to need a few different types of refrigerators. For example, a walk-in cooler is usually placed in the kitchen to store the majority of items that need to be kept cool. This typically has several shelves, and has enough room for a few employees to be in there at once, so grabbing ingredients off the shelves should be fast and easy. Of course, the sizes of these refrigerators vary, and you will also need a walk-in freezer to keep many items frozen. Restaurants also usually need a smaller fridge for employees to quickly access things that are used often, such as dressing, milk, and cream. Another type of fridge in a restaurant is a deli case, which may be kept in the kitchen, or even out in view of customers, especially in a deli. You can keep sandwich ingredients and cold salads in this type of fridge, allowing people to see the food before they choose what they want.Bars that serve food often have these types of commercial refrigeration, in addition to fridges specifically for drinks. For example, a walk-in cooler near the bar may be helpful to keep beer bottles and kegs cold. You will also need several smaller coolers and freezers that plug in along the bar, as you need a place to keep single beer bottles, glasses, and ice appropriately cold. In addition, you may have some mini fridges in the bar where you can keep chilled wine and other drinks that are best left cold.Grocery stores also tend to need lots of commercial refrigeration. The entire store usually has to have walk-in coolers and freezers, both in view of customers and in the back for employees only to access. You also need deli cases to display several items at once. In general, having plenty of these cooling products, and keeping them in good shape, is key to keeping customers happy, so you should not skimp on this type of equipment.Finally, flower shops also use refrigerators to keep products fresh. Like other businesses, you will need some kinds of commercial refrigeration in the front so that customers can check out the flowers before they buy them. You will also need some in the back so that you can store excess product without taking the chance of the flowers becoming hot and wilted.Clearly, several businesses are in need of this kind of product. These are just the most common reasons to consider cooling equipment. Other kinds of companies may also have this same need, so consider talking to a company that sells cooling equipment before deciding whether you need it.