3 IPC deals to come close to signing by March 20

TEHRAN – Three deals based on Iran’s new model of oil contracts (known as IPC) will get ready for final signing by the end of the current Iranian calendar year (March 20, 2018), IRNA reported on Saturday quoting an official at NIOC as saying.

Over $1.8b allocated to SMEs, uncompleted projects in 9 months

TEHRAN- According to the latest data released by Iranian Ministry of Industry, Mining and Trade, some 82.13 trillion rials (about $1.84 billion) has been paid to fund the activity of 707 small and medium-sized enterprises (SMEs) and their semi-finished projects in Iran in the first nine months of the current Iranian calendar year (March 21- December 21, 2017), IRNA reported on Saturday.

By Ebrahim Fallahi

IP gas pipeline: A fading opportunity for Pakistan

Near 20 years after the initiation of talks over the peace gas pipeline, beginning as the Iran-Pakistan-India gas pipeline project, and despite the fact that Iran has completed its part of the pipeline in its territory, Pakistan has fallen behind the target to take delivery of gas, initially scheduled for 2014.

Iran-Turkmenistan business forum held in Ashgabat

TEHRAN - Turkmenistan’s Chamber of Commerce and Industry in Ashgabat hosted Iran-Turkmenistan business forum on Friday, IRNA reported.

Oman seeks expansion of trade ties with Iran

TEHRAN- Oman is seeking expansion of its trade relationship with Iran, according to Oman Chamber of Commerce and Industry Vice Chairman Rashid Amer Mohammed Al-Mesailhi.

Dollar-based purchase orders prohibited in Iran since Feb. 28

TEHRAN- Purchase orders by merchants that are based on U.S. currency are no longer allowed to go through import procedures in Iran since Wednesday to address fluctuations in domestic market rates of the U.S. currency, IRNA reported.

Phase 3 of Shahid Rajaee port development plan inaugurated

TEHRAN- The third phase of the development plan of Iran’s biggest container port, Shahid Rajaee port, was launched on Wednesday in southern Hormozgan province and in the presence of President Hassan Rouhani, Transport and Urban Development Minister Abbas Akhoundi, ISNA reported.

Minerals, mining exports rise 4.6% in 10 months

TEHRAN- Iran’s minerals and mining exports stood at $7.587 billion during the first ten months of the present Iranian calendar year (March 21, 2017-January 20, 2018) registering 4.6 percent growth in comparison with the same time in the previous year, according to data released by the Islamic Republic of Iran Customs Administration (IRICA).

Swiss company to finance €1.1b manufacturing of subway wagons in Iran

TEHRAN – Swiss company Stadler Rail Group inked a deal with Iran’s Industrial Development and Renovation Organization (IDRO) on financing the joint manufacturing of subway wagons in Iran.

Seminar on Iran’s investment opportunities held in S. Korea

TEHRAN – Concurrent with the opening of Iran-South Korea Joint Chamber of Commerce a seminar on Iran’s investment opportunities was held in Seoul on Monday.

Yerevan hosting Iran-Armenia Joint Economic Committee meeting

TERHAN- The 15th Joint Economic Committee meeting between Iran and Armenia inaugurated in the Armenian capital on Tuesday, IRNA reported.

IME plans to start trading iron ore pellet, concentrate

TEHRAN- Iran Mercantile Exchange (IME) plans to start trading domestically produced iron ore pellet and concentrate, IME Managing Director Hamed Soltani-Nejad announced.

Iranian trade delegation to embark for Russia in early March

TERHAN- A delegation from Iran-Russia Joint Chamber of Commerce will make a visit to Russia on March 4 and 5, 2018, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported.

Iran, Kyrgyzstan ink MOU for co-op in free trade, economic zones

TEHRAN- Iran’s Chabahar Free Trade Zone Organization and the Kyrgyz Republic’s Bishkek Free Economic Zone signed a memorandum of understanding (MOU) in Tehran for cooperation on transit, transportation, logistics and tourism areas.

By Mahnaz Abdi

Industrial units establishment permits up 19% in 10 months yr/yr

TEHRAN- The number of permits for establishing industrial units rose 19 percent in the first ten months of the current Iranian calendar year (March 21, 2017-January 20, 2018) from the same period of time in the past year, according to Deputy Industry Minister Mohsen Salehinia.

Iran promoting investment opportunities in southeastern Makran shores

TEHRAN - The 2nd International Summit for Presenting Investment Opportunities in Makran Shores (in southeastern Iran) commenced on Sunday at Milad Tower Conference Hall in Tehran.

Flare stack of SP phase 14 platform lights

TEHRAN- Flare stack of the first platform of Iran’s South Pars gas field’s phase 14 of development was lighted on Saturday.

Iran, Spain explore industrial co-op in Tehran

TEHRAN- In a meeting between officials from Iran’s Industrial Development and Renovation Organization (IDRO), Spanish Chamber of Commerce, and Confederation of Employers and Industries of Spain in Tehran the two sides investigated mutual cooperation between Iranian and Spanish industries, the website of IDRO reported on Sunday.

Sea Expo 2018 kicks off in southern Iran

TEHRAN – Iran’s 5th International Maritime Organizations Exhibition (Iran Sea Expo 2018) kicked off at the permanent exhibitions center of southern port city of Bandar Abbas on Saturday.

Iranian oil, gas sector’s investment opportunities presented in IP Week 2018

TEHRAN- Investment potentials in Iran’s oil and gas sector was presented in the International Petroleum (IP) Week 2018, which was held in London from February 20 to 22.

50 new products traded at IRENEX since Mar. 2017

TEHRAN- As of the beginning of the present Iranian calendar Year (March 21, 2017), 50 new products have been traded in Iran Energy Exchange (IRENEX), IRIB news quoted the CEO of IRENEX as saying on Saturday.

3,000 semi-finished projects ready to be transferred

TEHRAN- Some 3,000 semi-finished governmental projects are ready to be offered to the private sector, an official announced.

Non-oil trade up 12% in 10 months yr/yr

TEHRAN- The value of Iran’s non-oil trade with foreign partners reached $80 billion during the 10-month period of the current Iranian calendar year ended on January 20, up 12 percent from the same period last year.

Majlis approves next year’s $268b budget bill

TEHRAN – The Iranian parliament (Majlis) on Thursday approved a 12.175-quadrillion-rial (about $268 billion) national budget bill for the next Iranian calendar year, starting March 21, IRNA reported.

Inflation rate stands at 8.3%: statistical center

TEHRAN- The Statistical Center of Iran announced that the inflation rate for the 12-month period ended on the last day of the eleventh Iranian calendar month Bahman (February 19) compared to the same period in the previous year hit 8.3 percent.

First train of SP phases 22-24 sweetening refinery comes online

TEHRAN- The first train of sweetening refinery of phases 22, 23 and 24 of Iran’s South Pars gas field was put into operation and the phases are ready to receive sour gas, according to the operator of the phases.

Total to maximize Iranian share in South Pars project

TEHRAN – Total has created a comprehensive database of Iranian contractors and equipment manufacturers to maximize the use of Iranian capacities in the development of phase 11 of Iran’s South Pars gas field, Shana reported on Wednesday quoting an oil official.

Stock market index sinks 669 points in a month

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) lost 669 points, or 0.7 percent, to 98,148 in the tenth Iranian calendar month Bahman (January 21-February 19), Tasnim news agency reported on Tuesday.

Intl. renewable energy exhibition to kick off on Feb. 21

TEHRAN – Tehran is going to be hosting the 10th International Exhibition of Renewable Energy and Energy Saving on February 21-24, ISNA reported.

Iran’s 10-month transit income up 20% on year

TEHRAN- Iran’s income from transit of goods increased 20 percent in the ten-month period ended on January 20, 2018, compared to the same period of time in the past year, according to an official at Trade Promotion Organization (TPO).