July 7, 2019

Efficiency of Iran’s power plants to reach 38%

TEHRAN – By converting gas power plants into combined cycle plants the efficiency of Iran’s power plants will be improved to 38 percent from their current 31 percent, IRIB reported on Sunday quoting a senior official with the Thermal Power Plants Holdi...
July 7, 2019

Iran’s INSTEX mirror company moving into trial phase

TEHRAN – The managing director of Iran’s Special Trade and Finance Instrument for trade with Europe (STFI), called SATMA in Persian, said the company is moving into the trial phase and is ready to operate in coordination with INSTEX.
July 7, 2019

EU may be a sweet-talker, but it’s full of empty promises

It was more than a year ago when U.S. President Donald Trump formally pulled the United States out of the nuclear deal that was struck between Iran and world powers in July 2015.
July 7, 2019

India complying with all its commitments in Chabahar Port: envoy

TEHRAN - Indian Ambassador to Tehran Gaddam Dharmendra said India will fulfill all its commitments in Iran’s Chabahar Port despite the economic hurdles, Mehr news agency reported.
July 7, 2019

Iran’s 100-day exports to Iraq up 20% yr/yr

TEHRAN – The value of Iranian exports to Iraq in the past 100 days reached $2.5 billion, registering a 20 percent increase compared to the last year’s same time span, IRNA reported quoting an official with the knowledge of the matter.
July 7, 2019

Iran’s quarterly non-oil exports at $11.5b

TEHRAN- Iran exported $11.5 billion of non-oil commodities during spring, which corresponds to the first quarter of the Iranian calendar year (March 21-June 21), head of Trade Promotion Organization (TPO) announced on Sunday.
July 7, 2019

‘Foreign buyers eager to purchase Iranian oil offered at IRENEX’

TEHRAN – National Iranian Oil Company (NIOC)’s representative in Iran energy Exchange (IRENEX) said foreign buyers have expressed willingness for purchasing Iranian oil offered at this exchange market, IRNA reported on Sunday.
July 6, 2019

Iran’s Exchange Stars League kicks off in Tehran

TEHRAN- Iran’s Exchange Stars League kicked off in Tehran on Saturday, IRIB reported.
July 6, 2019

‘Productive Financing’, CBI’s new plan for supporting production units

Like the other economic bodies of the country, Central Bank of Iran (CBI) has defined supporting production as its major plan in the current Iranian calendar year, which is named the Year of Pickup in Production, and in this regard CBI Governor Abdolna...
July 6, 2019

IRENEX to hold 4th round of heavy crude oil offering on Tuesday

TEHRAN- National Iranian Oil Company (NIOC) will offer two million barrels of heavy crude oil at Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.
July 6, 2019

Iran to hold expo on domestic production opportunities

TEHRAN – The first exhibition of domestic production opportunities and manufacturing boom is due to be held in late current Iranian calendar month of Tir (July 18-22), IRNA reported on Saturday, quoting the board chairman of Iran’s Industrial Developme...
July 6, 2019

Iran-U.S. trade at $37.5m in 5 months

TEHRAN - Trade between Iran and the U.S. stood at $37.5 million from January to May 2019, according to the latest report released by American Statistical Association (ASA).
July 6, 2019

Iran capable of boosting electricity exports to Iraq

TEHRAN - Managing director of Iran’s Kordestan Province’s Power Distribution Company said on Saturday that the company has the capacity to export 300 megawatts of electricity to Sulaymaniyah province in Iraqi Kurdistan, IRNA reported.
July 6, 2019

Tehran, Islamabad take steps for bolstering bilateral trade

TEHRAN - Heading a high-ranking delegation, Iranian Minister of Industry, Mines and Trade Reza Rahmani paid a visit to Pakistan on Thursday to attend the eighth Iran-Pakistan Joint Trade Committee meeting and to explore avenues of economic cooperation ...
July 6, 2019

Iran sets target of $4b in food, pharmaceutical exports

TEHRAN – The Iranian Industry, Mining and Trade Ministry has it on agenda to boost the exports of foodstuff, pharmaceuticals and sanitary products to $4 billion in the current Iranian calendar year (ends on March 19, 2020).
July 6, 2019

Iranian delegation visits Baku to discuss bilateral trade ties

TEHRAN – A high-ranking Iranian delegation comprising a number of MPs as well as representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), visited the Azerbaijani capital of Baku to discuss ways to expand bilateral trade ...
July 5, 2019

Over $6.4b allocated to unfinished projects

TEHRAN – The Iranian government has allocated 270 trillion rials (over $6.4 billion at the official exchange rate) for the completion of unfinished development projects, Tasnim reported on Friday, quoting head of the Planning and Budget Organization (P...
July 5, 2019

U.S. considering waiver for China to import oil from Iran: report

TEHRAN - The U.S. Department of State is mulling over allowing China to import oil from Iran as payment for a Chinese company’s investment in an Iranian oilfield, Politico reported on Wednesday, quoting three U.S. officials and sources.
July 5, 2019

Iraq to set up mechanism to buy Iranian gas, electricity

TEHRAN - Iraq is going to establish a trade mechanism to continue buying gas and electricity from Iran despite U.S. sanctions, AFP reported, citing senior Iraqi officials.
July 5, 2019

Iran, Iraq Coordinate Plans to Dredge Border River

Official delegations from Iran and Iraq held the second meeting of a joint commission for coordination on Arvand Rud, a border river flowing in Iran’s southwestern province of Khuzestan. The Tuesday meeting was held in Tehran within the framework of an agreement signed by the heads of the two states. The meeting was co-chaired by […]