January 2, 2019

Iraq ‘Not Obliged’ to Abide by US Sanctions on Iran

Iraq’s foreign minister said that his country is “not obliged” to abide by sanctions imposed by the US against Iran and would be pursuing options to continue bilateral trade. On December 20, the US granted Baghdad a 90-day extension to a waiver on abiding by the sanctions that were re-imposed on the Islamic Republic in […]
January 2, 2019

Tehran hosting intl. store equipment expo

TEHRAN – The 12th edition of Iran’s International Exhibition of Goods, Services, Store Equipment and Chain Stores kicked off at the Tehran Permanent International Fairgrounds on Wednesday.
January 2, 2019

Unemployment rate stands at 11.7% in autumn

TEHRAN- According to the latest report of the Statistical Center of Iran (SCI), unemployment rate in autumn which corresponds to the third quarter of current Iranian calendar year (September 23 - December 21, 2018) stood at 11.7 percent.
January 2, 2019

Imports of raw materials without order registration allowed in free zones

TEHRAN- The Islamic Republic of Iran Customs Administration (IRICA) has legalized imports of 3,243 various types of raw materials and production parts into the country’s free economic and industrial zones as well as free special economic zones without ...
January 2, 2019

Iranian trade delegation to embark for Dubai in mid-Feb.

TEHRAN- Trade Promotion Organization of Iran (TPO) is to dispatch a trade and educational delegation to the United Arab Emirates (UAE) from February 17 to 20, 2019, the official portal of the state-run organization announced.
January 1, 2019

India exempts rupee payments for Iran oil from hefty taxes

India’s finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters.
January 1, 2019

Iran-India banking mechanism to start operation in few days: envoy

TEHRAN- The banking mechanism between Iran and India is ready for operation, Indian Ambassador to Iran Saurabh Kumar announced, saying that banking and trade activities will be started between the two sides in the next few days.
January 1, 2019

IPGL ready to attract investment, large liners to Chabahar: CEO

TEHRAN- Indian Ports Global Ltd (IPGL), which has recently taken over the operations at phase 1 of Shahid Beheshti Port in Iran’s southeastern port city of Chabahar, is prepared to attract investment and also large liners to the Iranian port, the manag...
January 1, 2019

License issuance for industry units establishment up 22% in 7 months

TEHRAN – According to the latest data released by Iran’s Industry, Mining and Trade Ministry during the first seven months of the current Iranian calendar year (March 21–October 22, 2018), 12,808 licenses were issued for establishing new industry units...
January 1, 2019

TPO to dispatch trade delegation to Malaysia in early April

TEHRAN- Iran’s Trade and Promotion Organization (TPO) plans to dispatch a trade and marketing delegation to Malaysia in early April.
January 1, 2019

Next year’s budget bill estimates privatization at $1.19b

TEHRAN- The national budget bill for the next Iranian calendar year 1398, which starts on March 21, 2019, has envisaged transferring 50 trillion rials (about $1.19 billion) worth of state-run shares to the private sector, Mohammadreza Pour-Ebrahimi, th...
December 31, 2018

Iran, Syria explore facilitation of bilateral banking transactions

TEHRAN- In a meeting between Central Bank of Iran (CBI) Governor Abdolnaser Hemmati and Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil in Tehran on Monday, the two sides investigated the ways to facilitate banking transactions be...
December 31, 2018

Water supply to 800 villages to be improved in 3 months

TEHRAN- Supplying water to 800 villages with the population of over 590,000 people will be improved by the end of current calendar year (March 20, 2019), IRIB quoted managing director of Water and Wastewater Company of Iran (Persian acronym: ABFA) as s...
December 31, 2018

NISOC to start 14 mega oil projects from March

TEHRAN- National Iranian South Oil Company (NISOC) will start implementation of at least 14 mega projects on oil fields during the first half of the next Iranian calendar year (March 21-September 22, 2019), IRNA reported quoting the managing director o...
December 31, 2018

Exports to Azerbaijan rise 50% in 8 months on year

TEHRAN- The value of Iran’s exports to Azerbaijan rose 50 percent during the first eight months of the current Iranian calendar year (March 21-November 21, 2018) compared to the same period of time in the previous year, IRNA reported on Monday citing t...
December 31, 2018

Persian Gulf Star Refinery’s 3rd phase to come on stream by Friday

TEHRAN- The third phase of Persian Gulf Star Refinery, in south of Iran, will be put into operation by the end of the current Iranian calendar week (Friday), Shana reported quoting Deputy Oil Minister Alireza Sadeqabadi.
December 30, 2018

Non-oil trade nears $66b in 9 months

TEHRAN- The value of Iran’s non-oil trade stood at $65.97 billion in the first nine months of the current Iranian calendar year (ended on December 21), according to the latest data released by the Islamic Republic of Iran Customs Administration (IRICA).
December 30, 2018

Iran devises barter system to secure carpet exports

TEHRAN - Iran has devised a barter system with the goal of securing its carpet exports, the head of Iran National Carpet Center said on Sunday.
December 30, 2018

Agricultural exports up 20%, hit $4.6b in 8 months

TEHRAN – Iran exported 4,580 tons of agricultural products worth $4.6 billion in the first eight months of the current Iranian calendar year (started March 21), showing 20 percent and 19 percent rise in terms of weight and value respectively, IRNA quot...
December 30, 2018

Iran, Syria ink long-term economic co-op agreement

TEHRAN – Iranian Transport and Urban Development Minister Mohammad Eslami and Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil signed an agreement in Tehran on Sunday to expand bilateral economic cooperation in the long term.