August 2, 2019

Domestic producers of import-banned commodities honored

TEHRAN- During a ceremony organized by Iran’s Chamber of Cooperatives, a number of domestic units producing the goods, that their import has been banned in line with the country’s policy of achieving self-reliance to tackle the sanctions, were honored,...
July 31, 2019

Iran’s Q1 hydropower output up 415% on year

TEHRAN - The electricity output of Iran’s hydroelectric power plants exceeded 12,000 megawatts (MW) in the first three months of the current Iranian calendar year (March 21-June 21), 415 percent more than the figure for last year’s same period, IRIB re...
July 31, 2019

Daily gasoline output exceeds consumption by 15m liters: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Tuesday that the country’s daily gasoline production is 15 million liters more than the consumption, IRNA reported.
July 31, 2019

Iran’s private sector ready to contribute to Iraq’s reconstruction

TEHRAN – Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted a gathering on Tuesday between representatives of Iran and Iraq’s private companies active in the construction industry, the ICCIMA portal reported.
July 31, 2019

‘Projects with high physical progress prioritized for receiving facilities’

TEHRAN- Industry, Mining and Trade Minister Reza Rahmani said that for allocation of facilities his ministry attaches priority to the projects that have high physical progress, IRNA reported.
July 31, 2019

Transport Development Fund set up in Iran

TEHRAN – Establishment of the Transport Development Fund of Iran as a state-run company was officially started by Iranian First Vice President Es’haq Jahangiri as the Ministry of Transport and Urban Development was notified with the statute of the comp...
July 31, 2019

Iranian energy minister visits Afghanistan to pursue economic co-op

TERHAN - Iranian Minister of Energy, who heads the Iran-Afghanistan Joint Economic Committee, visited Kabul on Tuesday to hold talks with senior Afghan officials in order to discuss expansion of economic ties especially in water and energy areas.
July 31, 2019

Cabinet OKs taking zeroes off currency

TEHRAN – Iranian cabinet approved a bill proposed by Central Bank of Iran (CBI) for eliminating four zeroes from the national currency, IRNA reported.
July 31, 2019

May Iranian economy resuscitate from doldrums

TEHRAN – Inflation rate (the increase in consumer prices besides those of the producer), as one the main economic indices, has skyrocketed during the past recent year, i.e. as of the US withdrawal from the JCPOA, May 8, 2018. 
July 30, 2019

Tehran hosts conference on boosting production via reviving small mines

TEHRAN- A national conference on boosting production through reviving and developing small mines was held at Eram Hotel in Tehran on Tuesday, IRIB reported.
July 30, 2019

Channeling liquidity into stock market to pick up production

The statistics show that stock market in Iran is moving toward more and more development and creating better condition for entrance of more investors.
July 30, 2019

10,000 tons of gasoline to be offered at IRENEX for 1st time

TEHRAN - National Iranian Oil Products Distribution Company (NIOPDC) will offer 10,000 tons of gasoline produced in Iran’s Persian Gulf Star Refinery (PGSR) at the international ring of Iran Energy Exchange (IRENEX) on Wednesday, IRIB reported.
July 30, 2019

Iran achieves self-sufficiency in overhauling gas turbines

TEHRAN – Managing Director of National Iranian Gas Transmission Company (NIGTC) said the country has become self-sufficient in overhauling the national network’s gas turbines, IRNA reported on Tuesday.
July 30, 2019

‘PEDEC projects in Makran, West Karoun running smoothly’

TEHRAN – Head of Iran’s Petroleum Engineering and Development Company (PEDEC) said despite the slight hiccups caused by the floods in the spring all the oil projects in the West Karoun are running smoothly and the company is also pursuing its oil proje...
July 30, 2019

Bartering agreements with neighbors discussed

TEHRAN- During the 31st session of the Economic Promotion and Information Dissemination Headquarters held on Monday, different economic issues of the country were discussed, among them signing of bartering agreements with the neighboring countries was ...
July 30, 2019

‘Iran’s economy strong enough to withstand U.S. sanctions’

TEHRAN – A member of Majlis Economic Committee said on Tuesday that the country’s economy has the capacity to pass through the unjust U.S. sanctions, IRIB reported.
July 30, 2019

Iran, Australia stress expansion of banking ties

TEHRAN- Deputy Governor of Central Bank of Iran (CBI) Akbar Komijani held talks with the Australian Ambassador to Tehran, Ian Biggs, on Tuesday to discuss expansion of banking and economic relations.
July 29, 2019

Over $6b of loans paid to SMEs, semi-finished projects in 3 months

TEHRAN – Iran’s Ministry of Industry, Mining and Trade announced that in the first three months of the current Iranian calendar year (March 21-June 21), some 256.17 trillion rials (nearly $6.1 billion) worth of bank loans have been offered to small and...
July 29, 2019

NIMA supplies over €17.3b for imports of goods, services

TEHRAN - Iran’s domestic Forex Management Integrated System (locally known as NIMA) has supplied €17.357 billion for imports of goods and services since it was launched in April 2018 up to July 22, 2019, IRNA reported.
July 29, 2019

Govt. gives green light for cryptocurrency mining

TEHRAN – Iranian government, in a cabinet meeting on Sunday, approved cryptocurrency mining as an industrial activity, IRNA reported.