Week in Brief 10.05.2019

Café Bazar is an Iranian application store where Iranian users can download and install applications on their android devices. Since several Iranian developers do not have the possibility to offer their applications on Google Play, Café Bazar provides the possibility for them to sell their apps on this platform.

According to Café Bazar website, this store has been installed on more than 38 million devices where 98 per cent of these users are in Iran.

On this platform 162,000 Iranian games have been uploaded. Café Bazar has recently published a report about the type of the most popular games downloaded from it. According to it, 66 per cent of users, i.e. 25 million users, have at least one game installed on their devices.

6 million users have download foreign games, while another 6 million users have installed only Iranian games on their devices. 14 million people have both foreign and Iranian games.

Another interesting figure is that 0.2 per cent of Café Bazar users (i.e. 76,000 persons), have installed more than 50 games! Most of them seems to be located in Busher city, a south-western city on the Persian Gulf.

Most popular game among the Iranian users is the Iranian word-game, A-Mirza with more than 3 million times download. Clash of Clans and Swipe Brick Breaker with more than 2 million times installation are at the second and third places.

Recently Iran and Iraq have lifted  visa-application-fee for both countries. Since then, Iran’s Consulate in Basra has announced that every day it receives 6000 applications from Iraqi citizens who wish to visit Iran. The consulate confirms that this number is growing.

Since the Iranian rial has been devaluated heavily last year, more and more Iraqi people are visiting Iran. Caspian Sea region as well as the holly Shrine of Imam Reza in Mashad are the most popular destinations among Iraqi passengers in Iran.

On Sunday, Tehran Stock Exchange (TSE) started to crash and within only three days, its main index, TEDPIX lost 16,392 points and dropped 7.3 per cent.

While TSE was growing since February 2019 and has registered records after records, this week’s crash comes as a panic to several investors. During its continuous and fast growth, on average investors made one per cent profit a day.

However, following this growth several investors, and mainly the individuals, rushed to purchase shares while pushing prices up without considering fundamental value of shares they were investing in. Accordingly, once these investors see that others are selling their shares, they tend to do so and create more panic at the market.

Tehran Securities and Exchange Organisation reported that the number of new trading identities issued has grown 30 per cent per year. However, very few of these investors are really aware about the value of the shares they invest in. Although many analysts had warned about this rush to the market, but it seems that the Securities Market in Iran learns very little from the past.