Thursday , August 24 2017
Breaking News


Iran’s SLAL tenders for 200,000 T barley, 200,000 T corn


TEHRAN: Iranian state-owned animal feed importer SLAL has issued two international tenders to buy up to 200,000 tonnes of feed barley and 200,000 tonnes of corn, European traders said on Tuesday. The tenders close on Sept. 11, they said. A new tender had been expected by traders after SLAL made no purchase in its previous tender for the same volume ... Read More »

Iran expects $5B in petrochemical exports revenues


TEHRAN: Iran’s petrochemical products export volume is expected to reach 11.5 million tons in the first half of current fiscal year (started on March 21), while the revenues will reach $5.25 billion, show the statistics of the Iran’s National Petrochemical Company’s official document procured by Trend. The country’s petrochemical output for the one year period to Aug. 21 is also ... Read More »

Iranian exports to Nigeria up 69%


TEHRAN: Iran exported close to $3 million worth of goods to Nigeria during the first four months of the current Iranian year (March 21-July 22), registering a 69% increase compared with the corresponding period of last year, Mahmoud Haji-Yousefipour, an official with the Trade Promotion Organization of Iran, said. “The main exported commodities to the African country over the period ... Read More »

Rice imports at 760,000 tons last year in Iran


TEHRAN: Around 760,000 tons of rice were imported into Iran during the last fiscal year that ended on March 20, 2017, a deputy minister of agriculture said. “This is a remarkable achievement, as four years ago when President Hassan Rouhani took office, rice imports stood at 2 million tons [per year],” Yazdan Seif was also quoted as saying by Mehr ... Read More »

IME’s weekly trading value grows by 110%


TEHRAN: During weekdays ending up to 17 August, while 869,759 MT of commodities worth over 429.5 million USD were traded in Iran Mercantile Exchange, the volume and value of trading experienced a growth of 110% and 63%, respectively. According to the report from IME International Affairs and PR, last week, on the domestic and export metal and mineral trading floor ... Read More »

Iran’s interbank transactions top $800 bln


TEHRAN: Iranian interbank transactions during the fiscal year to March 20, 2017, stood at 30.9 quadrillion rials ($814.6 billion), marking a growth of 9.2 quadrillion rials ($243.2 billion) or 42.6% compared to the previous year. According to the latest data released on the Central Bank of Iran’s official website, the number of interbank deals during the period reached 31,403, registering ... Read More »

Iran ready to increase oil swap to 500,000 bpd


TEHRAN: Iran is ready to ramp up oil swap capacity after receiving the first batch of crude oil from the Caspian Sea in seven years for swapping through the Persian Gulf, the director of Iranian Oil Pipeline and Telecommunications Company said. “We are prepared to swap 400,000-500,000 barrels of crude oil per day, if new agreements are signed,” Seyyed Hamid ... Read More »

Central Bank of Iran reiterates support for SMEs


TEHRAN: Governor of the Central Bank of Iran Valiollah Seif in a letter called on the chief executives of banks to prioritize financing small- and medium-sized enterprises in the current Iranian year (ending March 20, 2018) as they did last year. “Today, supporting SMEs is one of the main priorities to boost economic growth and development in many countries, because ... Read More »

Iran’s dairy industry booming, as exports expand


TEHRAN: The Iranian dairy industry is beginning to expand, as dairy companies now target export destinations such as Russia, according to DairyReporter, a French news service in dairy processing industry. Last month, Pegah Iran Dairy Industries Company opened the largest milk powder factory in Iran in Lorestan Province. The company is also undergoing growth, with the opening of Aligudarz Animal ... Read More »

Dragon Oil ships crude to Iran in possible return to oil swaps

oil ships

TEHRAN: Iran’s northern port of Neka received two batches of Turkmen oil this month, prompting speculation that Tehran may be resuming oil swaps with its Caspian Sea neighbours after a five-year hiatus. On August 9, Azerbaijan’s Trend News Agency quoted a market source as saying that an oil tanker owned by Russian shipping group VF Tanker had arrived in the ... Read More »

Iran Gov’t stops issuing auto import permits

auto imports

TEHRAN: Ministry of Industries, Mining and Trade has stopped issuing auto import permits for all cars. Without the documents, local businesses and importers cannot register new orders with foreign carmakers. As per law, for importing each car, local companies must make an online registration with the ministry. Usually, importing companies register in bulk. After being issued, the permits are valid ... Read More »

EAEU to sign free trade deal with Iran this year


TEHRAN: EEC chairman said a temporary agreement on establishing a free trade zone between the Eurasian Economic Union (EAEU) and Iran may be signed in 2017. The negotiations between the Eurasian Economic Union (EAEU) and Iran on a temporary free trade zone agreement are expected to be finished by the next EAEU summit, scheduled for October 11, said Chairman of ... Read More »

Over 12m tons of goods loaded, unloaded at Iranian ports in a month

iran ports

TEHRAN: Some 12.631 million tons of goods were loaded and unloaded at ports of Iran during the fourth Iranian calendar month, Tir, (June 22 – July 22), with 2.3 percent fall from 12.93 million tons in its previous month, Tasnim news agency reported on Wednesday. Last October, Iran’s Ports and Maritime Organization (PMO) Managing Director Mohammad Saeednejad said that the ... Read More »

Iran’s annual handicrafts exports stand at $250m


TEHRAN: A top Iranian official says the Islamic Republic exports $250 million worth of handicrafts each year. “At the moment, the country’s handicrafts exports have tripled, and even inside the country there is a growing interest in handicrafts given the measures adopted,” said Bahman Namvar, a top handicrafts official. “The handicrafts of every country are the first representation of that ... Read More »

TCCIM to survey export potential in Azerbaijan


TEHRAN: Tehran Chamber of Commerce, Industries, Mines and Agriculture will be hosting a forum to survey Iran’s export potential in Azerbaijan on Wednesday. According to the State Customs Committee of Azerbaijan’s latest data, trade between Azerbaijan and Iran amounted to $175 million during January-November 2016, $130.13 million of which accounted for Azerbaijan’s import from Iran, TCCIM’s news portal reported. Azerbaijan’s ... Read More »

Iran shipped 502 thousand barrels of crude oil to State and private companies in India


TEHRAN:  In July, Iran shipped 502 thousand barrels of crude oil to state and private companies in India. As reported by the Iranian Ministry of Petroleum, while international news agencies report on a decline in India’s oil purchase from Iran, statistics reveal that not only have volume of crude exports to the South Asian country not fallen but they have ... Read More »

BMI, Science Ministry Sign cooperation deal


TEHRAN: Bank Melli Iran and the Ministry of Science, Research and Technology have signed an agreement to enhance bilateral cooperation. “Bank Melli belongs to all Iranian citizens and so, in collaboration with Science Ministry, the bank does not seek to make profits, but wishes to support the academic community,” the bank’s CEO, Mohammad Reza Hosseinzadeh, was quoted as saying by ... Read More »

Iran’s trade balance improves tremendously under Rouhani


TEHRAN: A close look at Iran’s non-oil trade during the first presidential term of Hassan Rouhani (August 2013-17) shows that the country’s “non-oil trade” deficit has noticeably shrunk during the four-year period, as it went down from $90 billion under former president, Mahmoud Ahmadinejad (2009-13), to $9.6 billion under Rouhani. By non-oil trade (mainly import), the Islamic Republic of Iran ... Read More »

Iran HRC import prices keep climbing


TEHRAN: Import prices for hot-rolled coil in Iran continued to trend upward over the week ending August 9, as offers from the mills of Commonwealth of Independent States rose further, supported by tight availability of the material. Offers of 2-mm HRC from Russian producer Magnitogorsk Iron & Steel Works (MMK) increased by €10 ($12) per ton over the week, to ... Read More »

Iran ships 25 tons of cheese to Russia

cheese export

TEHRAN: An official said a total of 25 tons of cream cheese worth 100 thousand dollars have been exported to Russia through Astara Customs Office. Behnam Pourzarb, Chairman of Astara Veterinary Network made the remarks on Tuesday noting that the cargo had received confirmation from Mazandaran Province Veterinary Department and enjoyed supervision of Astara Network. He went on to state ... Read More »