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Tuesday , December 12 2017
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Iran

Iran steel exports climb 27%

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TEHRAN: Major Iranian steelmakers exported 4.56 million tons of semi-finished and finished steel products during the first eight months of the current fiscal year (March 21-Nov. 21), registering a 27% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization reported. The export volume for Aban, the eighth month of the Iranian year ... Read More »

Iran, Turkey to discuss ‘terrorism’ and smuggling

iran

TEHRAN: A Turkish delegation is visiting Iran to focus on border security issues like smuggling, terrorism, and border security. Turkish Interior Minister Suleyman Soylu and Iranian counterpart Abdolreza Rahmani Fazli will meet on Saturday in Tehran, Turkey’s Hurriyet News reported. They will discuss cooperation on border security as well as the “fight against terrorism” and smuggling. Turkey’s Gendarmerie Forces Commander ... Read More »

Iraq, Iran negotiating start date for Kirkuk oil exports: Luaibi

iran

TEHRAN: The head of Iraq’s state oil marketer SOMO is currently holding talks in Iran to determine a start date for oil exports from Iraq’s Kirkuk oilfields, Iraqi Oil Minister Jabar al-Luaibi said on Wednesday. An oil official told Reuters last week that some Kirkuk crude would be shipped “in the near future” by trucks to Iran’s Kermanshah refinery, at ... Read More »

Iran cuts import duties on semis, strip steel products

iran

TEHRAN: The Iranian government has decreased the import duties on different steel products with immediate effect, according to a recent official notice. For semi-finished steel the duty was reduced from 15% to 5%, while most hot rolled strips saw duties reduced from 20% to 15%. For HRC below 3 mm thick, the duty was halved from 20% to 10%. The ... Read More »

Iran’s oil export to Japan falls by 21% M/M

iran

TEHRAN: Iran’s oil exports to Japan (including gas condensates) in October 2017 decreased by 18 percent year-on-year and reached ‎5.13‎‎ million barrels. Compared to the preceding month, the figure indicates a fall by 20.6 percent, Japan’s ministry of economy, trade and industry said. The figure includes 487,510.7 barrels of condensates exported from Iran’s South Pars gas field. Iran was Japan’s ... Read More »

Iran, Russia ties: economy versus diplomacy

iran

TEHRAN: Despite the fact that Iran and Russia enjoy very close political ties at a strategic alliance level, the alliance is not reflected in trade ties. The sides have failed so far to boost the volume of the trade, as obstacles still exist. After the tension between Moscow and West escalated in recent years, there was a big opportunity for ... Read More »

Iran moves to stamp out corruption opportunities in customs

iran

TEHRAN: Government officials and investors all agree that Iran needs to improve its business climate to attract the needed investment for job creation. One of the phenomena that can help ease the process of doing business is the country’s customs organization. Incidentally, Iran’s current minister of economic affairs and finance, Massoud Karbassian, was promoted from his previous position as head of the Islamic ... Read More »

Iran-Qatar economic ties boom after Tehran helps Doha fend off Saudi-ed blockade

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TEHRAN: Iran is benefiting from the anti-Qatari blockade that was launched by Saudi Arabia in early June, when Riyadh cut diplomatic ties with Doha and stopped access to all air, land and sea routes to the emirate, blaming it for supporting and harboring religious militants. Doha has since rejected all charges leveled against it by Riyadh. For the first seven months ... Read More »

Flat steel import prices stable

iran

TEHRAN: Hot- and cold-rolled coil import prices in Iran were largely unchanged in the week ending Nov. 22 on limited buying activity. Customers were held back by the lack of vessels at the Russian port of Astrakhan in October, which pushed up the cost of freight to Iran’s northern port of Anzali from $20 per ton to almost $50 per ... Read More »

Iran’s steel imports decline further on year in Apr-Oct: ISPA

iran

TEHRAN: Iranian steel imports fell in the first seven months of the year (April-October), according to the Iranian Steel Producers’ Association (ISPA) report published by the group on Thursday. Some 1.2 million mt of finished steel products were imported over the period, down 33% from the same period last year. Only 26,000 mt of semi-finished products were imported, a fall ... Read More »

Uzbekistan ready to invest in Iran’s petrochemical sector

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TEHRAN: Uzbekistan is willing to have a stake in Iran’s petrochemical ventures around the Persian Gulf, the head of the National Petrochemical Company said on November 22. “Uzbekistan is rich in natural gas resources, but the country is open to making investment [in petrochemical projects] where there is abundant gas supply and access to international waters,” Seyyed Reza Norouz-Zadeh said. ... Read More »

Iran woos European customers to shore up crude exports

IRAN

  TEHRAN: Iran has turned to customers in Europe to shore up its crude oil exports, Financial Tribune daily reported on Wednesday. Iran is in negotiations to secure new buyers in Europe, Iran’s first deputy Petroleum Minister, Marzieh Shahdaei, was quoted as saying. “Our approach is to raise oil exports to European countries,” Shahdaei said, adding that “some of our ... Read More »

Iran removes temporary ban on rice imports

IRAN

  TEHRAN: T he temporary ban on rice imports has been lifted from Nov. 22 up until July 22, 2018, as per a directive by the Ministry of Industries, Mining and Trade issued on Tuesday. Every year and during the rice harvest season, the government bans rice imports in support of local farmers and production. Import tariffs have increased from ... Read More »

Iranian exports to China up

IRAN

  TEHRAN: Iran and China have long enjoyed high level of economic relations with China being dependent on its oil imports from Iran and the latter being interested in foreign investment which such fast developing-economy as China could offer. Following the lifting of nuclear related sanctions, Iran started to ramp up its oil production, and, therefore, the relationship between the ... Read More »

Iran exports to Qatar up 117%

IRAN

  TEHRAN: Iran exported $139 million worth of non-oil goods to Qatar during the seven months to October 22, registering a remarkable %117.5 increase compared with the same period last year, according to the latest data released by the Islamic Republic of Iran Customs Administration. Financial Tribune’s inquiries show that bitumen, food and agricultural products accounted for the largest portion ... Read More »

Iran Caviar exports decrease

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  TEHRAN: More than 557 kilograms of caviar worth over $1.37 million were exported from Iran during the seven months to Oct. 22, registering a 9% and 6.6% decline in weight and value respectively compared with the similar period of last year, figures released by the Islamic Republic of Iran Customs Administration showed. The main export destinations for Iranian caviar ... Read More »

Iran gov’t revenues fall 3.7%, spending rises 13%

IRAN

  TEHRAN: T he government’s revenues in the first half of the current fiscal year (March 21-Sept. 22), including tax proceeds, amounted to 567.8 trillion rials ($14.19 billion), registering a 3.7% decline year-on-year. The latest data released by the Central Bank of Iran show revenues associated with the sales of oil and petroleum products reached 446.6 trillion rials ($11.16 billion) ... Read More »

Iranian ships seized ‘smuggling North Korean machine guns to Somalia militants’

iran

  TEHRAN: North Korean weapons were seized aboard Iranian smuggling ships as authorities seek to stamp out smuggling, a UN report has revealed. The weapons were on their way to war-torn Somalia when they were caught by an inspection looking for contraband. A UN diplomat earlier asked: “Why are Iranian and North Korean small arms finding their way into Somalia ... Read More »

Iranian Customs launches detection dog training center

IRAN

  TEHRAN: Iran’s Customs Office inaugurated a center for training drug-sniffing dogs in a bid to help prevent the smuggling of illicit drugs into the country. The detector dog training center was inaugurated in a ceremony attended by Secretary-General of the World Customs Organization Kunio Mikuriya and the head of Iran’s Customs Office. Since the beginning of the current Iranian ... Read More »

Iran’s heavy crude oil price exceed $60

IRAN

  TEHRAN: Brent for January settlement gained 15 cents to $63.64 a barrel on the London-based ICE Futures Europe exchange, after falling in the past two sessions. “The latest catalyst for this move higher was the sharp rise in geopolitical tensions last weekend, with growing confidence in an OPEC extension and strong oil demand fueling the rally previously”, said USA ... Read More »