Steel products export up 129% in 2 months yr/yr

TEHRAN- Iran exported 413,000 tons of steel products during the two-month period from March 21 to June 21, with 129 percent rise from the figure of the same time span in the past year, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced.

Tehran hosts intl. conference on transportation, logistics

TEHRAN – The second edition of Iran’s International Conference on Export Transportation and Logistics was held at Tehran Permanent International Fairgrounds on Sunday.

‘New imports ban to thwart $10b of foreign currency outflow’: MP

TEHRAN- Implementation of the newly set ban on imports of 1,339 kinds of goods into Iran is expected to prevent outflow of $10 billion foreign currency, IRIB news quoted the chairman of Majlis (the Iranian parliament) economic committee as saying in a TV interview on Saturday.

'Iran-China economic ties to hike'

TEHRAN- Iran-China economic relations will improve regardless of third-party countries’ internal rules, Spokesman of the Chinese Ministry of Commerce Gao Feng told IRNA on Saturday.

By: Ebrahim Fallahi

The aftermath of OPEC’s decision on rising output

The members of the Organization of the Petroleum Exporting Countries (OPEC) reached a consensus on Friday to increase their crude output in order to address concerns over rising oil prices, however the group didn’t give any clear information regarding the amount and allocations of the rise. Now, the question is how this decision is going to project in the oil market?

TCCIMA agricultural committee chairman becomes a board member of ISOA

TEHRAN- Kaveh Zargaran, the chairman of the Agricultural Committee at the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), became a board member of International Sunflower Oils Association (ISOA).

Iran will find other ways to overcome sanctions: Zanganeh

TEHRAN- Saying that Iran doesn’t believe buyers of its oil will get waivers from the U.S. government, Iranian Oil Minister Bijan Namdar Zanganeh said his country will find other ways to overcome sanctions.

Tehran, Dushanbe discuss Iranian companies’ contribution to Tajikistan’s road-building projects

TEHRAN- In a meeting between Iranian energy minister and Tajikistan's transport minister in Dushanbe, the two sides discussed the issue of Iranian companies’ presence in the road-building projects in Tajikistan.

Iran, Serbia ink trade, aviation & agro co-op MOUs

TEHRAN- During the 15th meeting of Iran-Serbia Joint Economic Committee in Belgrade on Thursday, the two countries signed three memorandums of understanding (MOUs) on trade, aviation, and agricultural cooperation, Shata news agency reported.

Zanganeh: OPEC decision based on 2016 output reduction agreement

OPEC output gain ‘nominal’

OPEC agreed on Friday to raise oil production by around 1 million barrels per day (bpd) from July for the group and its allies, an OPEC source said.

Daily gasoline output up 18m liters in 3-month on year

TEHRAN- Daily production of gasoline in Iran has increased by 18 million liters during the three-month period started from the beginning of current Iranian calendar year (March 21) compared to the same period of time in the past year, according to the managing director of National Iranian Oil Products Distribution Company (NIOPDC).

Tehran-Damascus seriously determined to strengthen banking, customs co-op

TEHRAN- In a meeting in Tehran on Tuesday, Iranian Finance and Economic Affairs Minister Masoud Karbasian and Syrian Economy and Foreign Trade Minister Mohammad Samer al-Khalil expressed their countries’ strong will for the expansion of bilateral economic and trade ties specially in banking and customs sectors.

OPEC not an organization to receive instruction from Trump: Zanganeh

TEHRAN- “OPEC is not the organization to receive instruction from President Trump”, Iranian Oil Minister Bijan Namdar Zanganeh stated. “OPEC is not part of the Department of Energy of the United States,” the Iranian minister told reporters on Tuesday after arriving in Vienna, where OPEC is headquartered, Reuters reported.

Tehran hosting Iran’s 12th International Energy Conference

TEHRAN - As Iran’s greatest annual energy event, the 12th International Energy Conference (IEC) kicked off on Tuesday in Tehran, IRIB reported.

Over 90 foreign companies participating in Iran Rail Expo 2018

TEHRAN – Over 90 foreign companies are attending the 6th International Exhibition of Rail Transportation, Related Industries & Equipment of Iran (Iran Rail Expo 2018) which kicked off on Tuesday at the Tehran Permanent International Fairgrounds.

Iran inaugurates national diesel engine production line

TEHRAN- Production line of domestically-manufactured 1,300-horsepower diesel engine was launched on the sidelines of the 6th International Exhibition of Rail Transportation, Related Industries & Equipment of Iran (Iran Rail Expo 2018) in Tehran on Tuesday.

NDF pays $5b of facilities to 158 development projects in a year

TEHRAN- During the previous Iranian calendar year (ended on March 20, 2018), Iran’s National Development Fund (NDF) paid $5 billion of facilities to 158 domestic development projects, IRNA reported on Monday.

By Ebrahim Fallahi

OPEC’s big test: A choice between right and wrong

As the Organization of Petroleum Exporting Countries (OPEC) prepares to meet later this week in Vienna, tension is rising among some of the cartel’s biggest members on what is said to be one of OPEC’s biggest decisions since its establishment.

Iran to veto Saudi-proposed supply boost along with Venezuela, Iraq

TEHRAN - Iran’s representative to OPEC, Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq is going to veto Saudi Arabia’s proposal to increase oil production in cartel’s June 22 meeting in Vienna.

By Haniyeh Sadat Jafariyeh

Iran at SCO: Role, achievements, and goals

Nearly a month after the U.S. withdrawal from the Joint Comprehensive Plan of Action (JCPOA), leaders from the Shanghai Cooperation Organization (SCO) met in Qingdao, China, to set the roadmap for the future.

IRIR receives its first domestically-made rail cargo

TEHRAN – Iranian Esfahan Steel Company (ESCO) has prepared and delivered the first cargo of Islamic Republic of Iran Railway (IRIR)’s rail orders (known as national rail) to IRIR on the occasion of Eid-al-Fitr.

By Mahnaz Abdi

TSE index hit a 50-year record high of 102,000 points

TEHRAN - Players in Iran’s capital market witnessed a historical record in growth of Tehran Stock Exchange (TSE)’s main index (TEDPIX) which gained 3,306 points to hit 102,452 points on Sunday, something unprecedented in the 50-year history of the country’s stock market.

Iran ready to set up IMO technical co-op offices in region

TEHRAN- Iran is ready to establish technical cooperation offices of the International Maritime Organization (IMO) in the region, the country’s Port and Maritime Organization (PMO) Head Mohammad Rastad announced.

Construction of Iran’s longest freeway to be completed in 2 years

TEHRAN - The construction of Iran’s longest freeway is planned to be completed within the next two years, according to the deputy director for construction and development in Iran’s Construction and Development of Transportation Infrastructures Company (CDTIC).

Over $10.6b allocated for renewing road transport fleet

TEHRAN – Iran allocated a maximum of $10.66 billion funding for renewing the country’s road transport fleet, IRNA reported referring to the data announced by the country’s Budget and Planning Organization.

Stock market index closes at near 100,000 points

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) gained 2,767 points to 99.146 on Wednesday, IRNA reported.

India’s oil imports from Iran rise to highest since 2016

TEHRAN- India’s imports of oil from Iran increased to about 705,000 barrels per day (bpd) in May, which is the highest level since 2016, Reuters reported citing the data from shipping and industry sources.

Iran’s oil production up 6,000 bpd in May: OPEC

TEHRAN- According to OPEC’s latest monthly report published on June 12, oil production in Iran stood at about 3.829 million barrels per day (bpd) in May, an increase of 6,000 bpd from 3.823 million bpd in April, based on secondary sources.

Co-op agreement on air transportation inked between Iran, Kyrgyzstan

TEHRAN- Iran and Kyrgyzstan signed an agreement to boost cooperation on air transportation, the head of Public Relations Department of Iran Civil Aviation Organization (CAO) Reza Jafarzadeh announced, IRIB reported on Monday.

By Mahnaz Abdi

EU’s efforts to maintain trade with Iran a clear defeat for U.S.

TEHRAN- Iran’s Trade Promotion Organization (TPO) Head Mojtaba Khosrotaj said the European Union’s endeavors to preserve and continue trade ties with Iran is an obvious sign of defeat for the U.S. that has withdrawn from Iran’s nuclear deal.