Inflation rate stands at 10.2% in Iran: CBI

TEHRAN - The Central Bank of Iran (CBI) has announced that the inflation rate for the 12-month period ended in the last day of the third Iranian calendar month of Khordad (June 21) compared to the same period in the previous year hit 10.2 percent, IRIB news reported.

Iran’s 5-month crude steel output up near 1m tons: WSA

TEHRAN- Iran’s production of crude steel stood at 8.159 million tons in the first five months of 2017, with 944,000 tons rise from 7.215 million tons in the same time span in 2016, according to the latest report published by the World Steel Association (WSA).

German banks poised to finance projects in Iran

TEHRAN- German banks are ready to finance economic projects in Iran, Federal Minister of Finance Wolfgang Schäuble announced in a meeting with Iranian Foreign Minister Mohammad Javad Zarif in Berlin.

Crude steel exports from Iran up 8% in 2 months

TEHRAN- Iran exported 1.3 million tons of crude steel during the first two months of the current Iranian calendar year (March 21-May 21), with eight percent rise from the figure of the same period of time in the past year, according to an industry official.

India Essar's Iranian oil imports rise near 5%: trade

TEHRAN - Essar Oil, the top Indian buyer of Iranian crude, imported 4.9 percent more Iranian oil during January-May 2017 compared to a year ago, according to the private refiner’s crude and condensate imports data released by Reuters.

Iran, France to establish joint transport consultancy task force

TEHRAN – Iran and France agreed on Friday to form a joint consultancy task force on transportation to accelerate cooperation in this sector, IRNA reported.

3 South Pars platforms complete drilling operations

TEHRAN- Drilling operations have been completed by platforms 22, 24A and 24B of Iran’s South Pars gas field (in the Persian Gulf), according to project manager Farhad Izadjoo.

Inflation rate stands at 7.4% in urban areas

TEHRAN- The Statistical Center of Iran announced that the inflation rate in the urban areas for the 12-month period ended in Khordad, the third month of the current Iranian calendar year (May 22-June 21), hit 7.4 percent, Tasnim news agency reported.

Iran’s exports to EU quintuple in 4 months

TEHRAN- Imports of EU from Iran increased fivefold during the first four months of 2017 in comparison with the same period in the preceding year, European Union’s statistics agency Eurostat reported.

U.S. oil output rise drops prices: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has blamed an increase in the U.S. oil production for the plunge in global prices of crude oil. 

NIOC awards Eni oil, gas fields development study

TEHRAN – Italy’s major oil company Eni signed a memorandum of understanding (MOU) with National Iranian Oil Company (NIOC) for carrying out development studies on two of Iran’s oil and gas fields.

Iran-Brazil Joint Chamber of Commerce to open in early July

TEHRAN- The Iran-Brazil Joint Chamber of Commerce will be opened in Tehran on July 9, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Chairman Gholam-Hossein Shafeie announced.

Pistachio exports up 3% yr/yr

TEHRAN – Iran has exported $1.240 billion worth of pistachios to the world markets in the past Iranian calendar year 1395 (ended on March 20) to register a three percent rise compared to its previous year, IRIB news reported.

Fishery output to rise 200,000 tons by 2021

TEHRAN- Iran’s annual output of fishery will be increased by 200,000 tons by the end of the country’s Sixth Five-Year National Development Plan (March 2021), Mohammad Pourkazemi, the chairman of Iranian Fisheries Science Research Institute, said on Monday.

Eni, NIOC to ink oil, gas MOUs

TEHRAN – Representatives of the Italian oil major Eni will arrive in Tehran on Tuesday to ink two memorandums of understanding (MOUs) with the National Iranian Oil Company (NIOC).

Minerals exports at $1.02b in 2 months

TEHRAN- Iran’s minerals and mining industries exported $7.68 million tons of goods at the value of $1.02 billion during the first two months of the present Iranian calendar year (March 21-May 21, 2017), IRIB news reported on Sunday.

BY Haniyeh Sadat Jafariyeh

Splitting of ministries; another trial and error?

With President Hassan Rouhani’s first tenure coming to an end, the administration has taken a decision for splitting three ministries in a bid to make them smaller and swifter.

Iran’s annual GDP growth at 12.5%: CBI

TEHRAN- Iran's growth of gross domestic product (GDP), including oil sector, hit 12.5 percent in the previous Iranian calendar year 1395 (ended on March 20, 2017), the Central Bank of Iran (CBI) reported.

German companies ink co-op MOU on building solar farms in Iran

TEHRAN – A group of German investors signed a memorandum of understanding for cooperation on the construction of solar farms in North Khorasan Province in northeast of Iran, the official website of Iranian Energy Ministry (known as PAVEN) reported.

Iran, EAEU discuss preferential tariffs on agricultural, industrial products

TEHRAN – Attended by a 33-member delegation, the seventh round of Iran-Eurasian Economic Union (EAEU) meetings was held on the deputy level in Tehran, IRNA reported on Saturday.

Tehran seeks better banking ties with Seoul, New Delhi

TEHRAN - Iranian Finance Minister Ali Tayyebnia met his South Korean and Indian counterparts in Seoul on Friday, discussing ways to improve banking cooperation between Iran and the two trade partners.

Iran, Germany set to expand trade in horticulture

TEHRAN – Iran and Germany are going to accelerate their trade cooperation in horticultural products and hybrid seeds, Iranian Agriculture Ministry’s official portal reported.

28 semi-governmental companies to be privatized

TEHRAN- The Ministry of Finance and Economic Affairs has listed 28 semi-governmental companies that will be privatized by the current Iranian yearend (March 20, 2018).

By Seyed Ali Mohammad Mousavi, D-8 Secretary General

20 years of unique experiment in economic cooperation

Twenty years ago, precisely on June 15, 1997, the Heads of States of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey came together for an exalted purpose and signed the Istanbul Declaration to establish the D-8 Organization for Economic Cooperation. In light of the noble vision of Prof. Dr. Necmettin Erbakan, our Organization’s founding father, D-8 aimed to promote:

Iran to start exporting meat to Qatar in days

TEHRAN- Iran will start exports of 170 tons of meat per day to Qatar in coming days, Tasnim news agency reported on Wednesday.

Iran oil production back around pre-sanction level: BP

TEHRAN- Iran’s oil production and its share of OPEC output are now both back around pre-sanction levels, according to BP Statistical Review of World Energy June 2017.

Iran, S. Korea ink technical co-op MOU on LNG ISO containers

TEHRAN – Iran and South Korea signed a memorandum of understanding (MOU) on technical cooperation on LNG ISO containers, Shana reported on Tuesday.

Iran oil output rises in May: OPEC

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.

IP gas pipeline project still affected by sanctions: Pakistani minister

Pakistani Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that Iran-Pakistan gas pipeline (IP) project is still affected by the west-imposed sanctions on Iran.

Iran sees $15b worth of oil deals signed by March 2018

TEHRAN – Over $15 billion worth of oil deals is expected to be signed in the current Iranian calendar year, which ends on March 20, 2018, National Iranian Oil Company’s Managing Director Ali Kardor said.