India’s Iranian oil intakes jump to record high in July

TEHRAN - India’s crude oil imports from Iran increased by about 30 percent to a record 768,000 barrels per day (bpd) in July, Reuters reported citing tanker arrival data.

By Haniyeh Sadat Jafariyeh

Market looking forward to CBI foreign currency package

The Central Bank of Iran (CBI) launched a secondary currency market on July 3, 2018, in a bid to renovate its foreign currency system, reign the currency rates, reinforce exports, improve cooperation with foreign currency exchange shops, and to ease a dollar shortage ahead of the new turn of U.S. sanctions.

Germany stops cash transfer to Iran amid EU package to counter U.S. JCPOA exit

Germany’s central bank, the Bundesbank, has revised its regulations to stop Iran from withdrawing €320 million ($400 million) in cash from the country’s bank accounts, the German newspaper BILD disclosed.

New shareholders’ presence in TSE up 40% in 4 months yr/yr

TEHRAN- Presence of new shareholders in Tehran Stock Exchange (TSE) rose 40 percent during the first four months of current Iranian calendar year (March 21-July 22) compared to the same period of time in the previous year, according to TSE CEO Hassan Qalibaf-Als.

Cement exports stand at $159m in 3 months

TEHRAN- Iran exported 4.407 million tons of cement valued at $159.3 million in the three-month period from the beginning of current Iranian calendar year (March 21), Islamic Republic of Iran Customs Administration (IRICA) has announced.

Annual fishery exports to rise 10% by March 2019

TEHRAN- The value of Iran’s annual fishery export is planned to rise at least 10 percent in the current Iranian calendar year (which ends on March 20, 2019), Hassan Salehi, the head of Iran’s Fisheries Organization, announced.

1st intl. paper products expo inaugurated in Tehran

TEHRAN- The First International Specialized Exhibition of Paper, Cardboard Cellulose Products and Related Machinery (PCCM 1397) became operational on Wednesday at the Tehran Permanent International Fairground, IRIB reported.

Iran's average oil export rises 185,000 bpd in 4 months compared to past year

TEHRAN – Iran exported 2.3 million barrels per day (bpd) of oil on average during the first four months of the current Iranian calendar year (March 21-July 22, 2018), an 185,000 barrels increase from the average daily exports in the whole of last year.

CBI accepts parliament’s plan on reinforcing secondary market

TEHRAN- After three months of incessant negotiations, the government and Central Bank of Iran (CBI) have accepted to adopt suggested policies of the parliament’s economic committee in foreign currency market, head of monetary and banking committee of the parliament was quoted by Tasnim news agency as saying on Tuesday.

TEDPIX still in rising trend

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) gained 4,413 points to 121,173 on Tuesday.

4,600 small, medium-sized units under construction in industrial parks

TEHRAN- Some 4,600 small and medium-sized units are under construction in industrial estates of the country, Iranian deputy industry minister announced.

Boosting renewable capacity, the key to resolve Iran’s power problems: report

TEHRAN - Iranian energy experts and scholars believe that increasing the country’s renewable power capacity is the cheapest and fastest way to supply electricity needs in the future, IRNA reported.

2 Iranian banks to open branches in India soon

TEHRAN- Iran’s Bank Pasargad and Saman Bank will open two branches in India in the near future, the head of Iran-India Joint Chamber of Commerce told ILNA.

Oil Ministry imposing 4-year service term limit for top directors

TEHRAN- According to a new order by Iran’s Oil Minister Bijan Namdar Zanganeh, a four-year service term limit will be imposed for the ministry’s senior directors since October 23, Shana news agency reported.

Minerals, mining exports rise 16% in a quarter on year

TEHRAN- Iran’s minerals and mining exports stood at $2.839 billion in the first quarter of the current Iranian calendar year (March 21-June 21), registering 16 percent growth in comparison with the same time span in the previous year, according to data released by the Islamic Republic of Iran Customs Administration (IRICA).

Over 199,000 vehicles to be scrapped by March 2021

TEHRAN – Iran is going to rejuvenate its transport body by scrapping more than 199,000 vehicles by the end of the Iranian calendar year of 1399 (March 20, 2021), IRIB reported on Monday.

Iran, Azerbaijan determined to expand transport co-op

TEHRAN – Iran and Azerbaijan’s transport ministries stressed their determination for removing barriers in the way of expanding mutual cooperation, the portal of Iranian Transport Ministry reported.

TSE index hits a new record

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) gained 2,903 points to hit the highest-ever record of 116,756 points on Monday, IRNA reported.

5-year tax exemption for job creating units in rural areas

TEHRAN- Job creating units in the rural areas are to be exempted from paying tax for five years and the time would be extended up to 10 years for those in deprived areas, Abolfazl Razavi, the vice president for rural development and deprived areas, announced.

‘U.S. sanctions not to impede Iran-Russia railway cooperation’

TEHRAN- Hossein Ashouri, deputy head of Islamic Republic of Iran Railways (known as RAI) announced that U.S.-led sanctions have never been influential on expansion on Iran’s railway cooperation with Russia and the country will continue to develop its collaboration with east and west railways, the portal of Iranian Transport Ministry reported.

Rouhani declares amended law on Article 44 of Iran's Constitution

TEHRAN – President Hassan Rouhani wrote to Ministry of Finance and Economic Affairs declaring a law passed by the Iranian parliament on amending the law on implementation of the general policies of the Article 44 of Iran's Constitution, IRNA reported on Sunday.

Iran’s 6-month crude steel output up 25% yr/yr: WSA

TEHRAN- Production of crude steel in Iran stood at 12.516 million tons during the first six months of 2018, indicating 25.8 percent rise from 9.947 million tons in the same period of time in 2017, according to World Steel Association (WSA).

Iran, Syria to ink MOU on strategic economic co-op

TEHRAN – Tehran and Damascus are going to sign a memorandum of understanding (MOU) for strategic economic cooperation in near future aiming at developing trade ties between the two sides, the portal of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) reported.

Infrastructure projects worth $1.5b to be implemented in Maku Free Zone

TEHRAN- Several MOUs on implementation of 160 infrastructure projects in Maku Free Trade and Industrial Zone, Iran's largest free trade zone, was signed during the national conference on investment opportunities in this free zone in northwest of the country.

Iran’s 3-month exports to Azerbaijan up 70% yr/yr

TEHRAN- Iran’s exports to Azerbaijan stood at $14 million during the three-month period from March 21 to June 21, with 70 percent rise from the figure of the same period of time in the past year, the chairman of Iran-Azerbaijan Joint Chamber of Commerce told ISNA.

Guaranteed price for electricity generated by renewable-energy power plants

TEHRAN- According to an announcement by Iran's Power Generation and Distribution Company (known as TAVANIR), power distribution companies can purchase the electricity generated by renewable energy power plants at guaranteed price.

Non-oil exports up 14.6% in 4 months on year

TEHRAN- Iran exported $15.45 billion of non-oil products during the four-month period from March 21 to July 22, with 14.69 percent rise from $13.471 billion in the same time span of the past year, according to Islamic Republic of Iran Customs Administration (IRICA).

Persian Gulf Star Refinery’s daily output hits 26m liters

TEHRAN- Daily gasoline production in Persian Gulf Star Refinery (PGSR) has increased 2 million liters to stand at 26 million liters, Mohammad-Ali Dadvar, the managing director of refinery, told Shana news agency.

Exports from PSEEZ up 22% in 4 months yr/yr

TEHRAN- The value of exports from Pars Special Economic Energy Zone (PSEEZ) in Iran’s southwestern port city of Assaluyeh reached $5.609 billion in the first four months of the current Iranian calendar year (March 21-July 22, 2018), a 22 percent rise from the figure for the same period last year.

Imam Khomeini Airport City expanded with 8 development projects

TEHRAN – Eight development projects were inaugurated at Iran’s Imam Khomeini Airport City (IKAC) on Thursday to further expand the capital city’s primary international airport, IRIB reported.