Saturday , June 24 2017
Breaking News


Iran begins sending gas to Iraq under major deal


TEHRAN: Iran has begun exporting gas through a pipeline to Baghdad under a deal set to make Iraq the Islamic republic’s top customer, the oil ministry said.”Iran’s natural gas exports to Baghdad began Wednesday evening,” Deputy Oil Minister Amir Hossein Zamaninia said late Wednesday in comments carried by the ministry’s Shana website.”The exports have started with a volume of seven ... Read More »

2 private Iranian airlines sign MoUs for 73 Airbus jets


TEHRAN: Two privately owned Iranian airlines, Airtour and Zagros, have signed MoUs for total purchase of 73 Airbus aircraft at the Paris Airshow on Thursday. Iran’s Airtour Airlines has signed an MoU for the purchase of 45 Airbus A320neo aircraft in a deal unveiled at the Paris Airshow, PR director of Iran Airtour said on Thursday. Marzieh Jafarzadeh noted the ... Read More »

$3.2b in customs revenues for Hormozgan

customs export

TEHRAN: Revenues gained by Hormozgan Province’s Customs Administration in the last Iranian year (ended March 20, 2017) stood at 120 trillion rials ($3.2 billion), IRNA quoted customs inspector of the southern province, Alireza Dashtani, as saying. Hormozgan has 1,000 kilometers of coastlines stretching from the Persian Gulf to its southwest facing the UAE, Qatar and Bahrain, and to the Sea ... Read More »

Iran’s pistachio exports on rise


TEHRAN: Iran’s Trade Promotion Organization has announced that the country’s pistachio exports have had a growing trend during the past year. The organization says Iran’s pistachio exports touched $1.24 billion in the 12 months to March 2017, up 3% year on year. The product hit Asian and European markets. The pistachio is one of the pivots of Iran’s agriculture sector ... Read More »

Iran exporting 3 mln tons of surplus wheat


TEHRAN: About 500,000 tons of wheat from a total of more than 1 million tons offered on Iran Mercantile Exchange have been bought by producers and factory owners. “The wheat offered on IME is sold at export prices, which are lower than those in the domestic market, under the condition that the purchased crop be processed into flour or byproducts ... Read More »

Economy min. meets AIIB senior officials


TEHRAN: Iran’s Economy Minister Ali Tayebnia, while in South Korea, met and talked with two vice presidents of the China-led Asian Infrastructure Investment Bank (AIIB). The meeting was held on the sidelines of 2017 AIIB Annual Meeting in Jeju of South Korea and began with a report on formation of the Asian Infrastructure Investment Bank and procedures for admission of ... Read More »

Iran exports 35,000 tonnes of wheat to Oman


TEHRAN: Iran exported a 35,000 tonne cargo of wheat to Oman last week, traders said on Monday. Iran’s President Hassan Rouhani had said in September that the country was aiming to start exporting wheat soon after a good 2016 crop. However, traders did not expect significant volumes to flow from the country. “For the time being only one cargo of ... Read More »

Iran GDP growth 12.5%

gdp growth

TEHRAN: Iran economy grew 12.5% in March 2016-17 compared to the preceding year, according to the Central Bank of Iran’s latest report released on Sunday. The strong growth is attributed mainly to increased oil production following the removal of international sanctions against Iran over its nuclear program as of January 2016. GDP growth, without taking oil production into account, stood ... Read More »

Iran, Oman after boosting parliamentary ties

economic ties

TEHRAN: Iranian Ambassador to Oman Shahroudi and Oman Consultative Assembly Speaker Khalid Hilal bin Nasser al-Mawali met on Thursday in Muscat. Mohammad Reza Nouri Shahroudi, the Iranian Ambassador to Oman met with Omani Consultative Assembly Speaker Khalid Hilal bin Nasser al-Mawali on Thursday in Muscat. This was the first meeting of the two officials. During the meeting the two officials, ... Read More »

Iran Exports more Food to Qatar amid Crisis in Persian Gulf


TEHRAN: Iran sent more food to Qatar today after exporting three tons of fresh fish and 180 tons of fruit and vegetables to alleviate shortages suffered by the emirate over the boycott of three Persian Gulf countries. According to official sources, departments of the ministries of trade, foreign affairs, and transport coordinate the processing of shipments of deficit products in ... Read More »

Iran, India to step up ICT cooperation


TEHRAN: Iranian and Indian ICT ministers have agreed to provide proper conditions for further expansion of bilateral cooperation on information and communication technology. Iranian ICT Minister Mahmoud Vaezi who is in Geneva for a specialized meeting of the International Telecommunication Union, held talks with his Indian counterpart Manoj Sinha on Thursday. During the meeting, the two sides noted the many ... Read More »

Iranian ships enjoy intl. insurance coverage


TEHRAN: An IRISL official said currently no restrictions exist on providing international insurance coverage for Iranian vessels. Aliakbar Ghonji, Managing Director of Bulk Carrier Division of Islamic Republic of Iran Shipping Lines (IRISL), noted that all Iranian ships were under full insurance coverage adding “insurance plays a significant role in development of maritime transport.” The well-equipped container and bulk fleets ... Read More »

Iran oil output rises in May

index rises

TEHRAN: Iran produced 3.795 million barrels per day (bpd) of oil in May, an increase of 4,000 bpd from 3.791 million bpd in April, the Organization of the Petroleum Exporting Countries (OPEC) announced in its monthly report released on Tuesday. The report also indicates that OPEC’s output has risen to 32.139 million bpd in May from 31.803 million bpd in ... Read More »

Iranian, Austrian central banks to open joint account

iran austria

TEHRAN: President of Central Bank of Austria said opening a joint account between central banks of Iran and Austria has been put on the agenda. Ewald Nowotny, President of Oesterreichische Nationalbank (OeNB) as the central bank of Austria, said fruitful meeting have been held with Governor of Central Bank of Iran Valiollah Seif in line with expansion of banking relations ... Read More »

Iran exports first wheat cargo in years


TEHRAN: Iran says it has exported its first consignment of wheat after a hiatus of multiple years – what is seen as a robust sign that shows the country has not only been able to support domestic needs but also move ahead with overseas sales. The consignment of 35,000 tons of wheat was sent to Oman from Iran’s Bandar Imam ... Read More »

Iran plans to establish six dry ports


TEHRAN: Iran plans to establish six dry ports as per its sixth five-year development plan (2017-22), a deputy minister of roads and urban development said. Amir Amini added that Iran has conducted comprehensive studies regarding development of dry ports, noting that Mashhad, Tabriz, the southeastern Sistan-Baluchestan Province, Tehran’s Imam Khomeini International Airport and the Aprin train station on the outskirts ... Read More »

Iran exports food products to Doha amid Qatar blockade


TEHRAN: Iran has sent five cargoes of food products to Qatar in recent days and one more will be sent soon, Tasnim reported on Sunday. According to Iran Air spokesman Shahrokh Nooshabadi the cargos each weighing 90 tons contained perishable products. “We will continue sending such cargos while there is still request from the Qatari side,” the official said. Three ... Read More »

Iran absorbs $3.37b investment


TEHRAN: The UNCTAD wrote in its recent report, published in June 2017, that Iran has attracted more than $3.37 billion, showing a 64-percent growth. The UNCTAD announced that in 2016, the year the sanctions on Iran were terminated, Iran could attract $ 3.372 billion. The report also says that foreign investment in Iran had declined for few years. But in ... Read More »

Iran property tax overhaul approved


TEHRAN: The Cabinet has approved new tax regulations concerning a host of housing activities during its latest meeting on Wednesday, which replace the old tax laws with more pragmatic and precise ones, making life more difficult for tax evaders. According to the new measures, private builders (both small and large-scale) need to pay 15-25% of their profit from the sale ... Read More »

Iran Mercantile Exchange moves to break auto pricing monopoly


TEHRAN: Offering SAIPA’s Kia Cerato on Iran Mercantile Exchange is the first step toward breaking the auto market monopoly in Iran, the chairman of Majlis Economic Commission said. “This will bring about transparency in Iran’s auto market, as every automobile’s [real] price will be discovered using IME’s mechanisms,” Mohammad Reza Pour-Ebrahimi was also quoted as saying by ILNA. Automobiles made ... Read More »