Development plans to see 79% budget rise next year

TEHRAN- The national budget bill for the next Iranian calendar year, starting March 21, has envisaged 79 percent more budget for development projects, the government spokesman announced.

Tehran hosting 12th Iran-Azerbaijan Joint Economic Committee meeting

TEHRAN- The 12th meeting of Iran-Azerbaijan Joint Economic Committee was held on Tuesday morning at the place of Iranian Ministry of Finance and Economic Affairs in Tehran, Shada news agency reported.

TIPAX Co. Awarded with License of Operation in Presence of ICT Minister

The license of activity of first operator of private post of country was awarded to TIPAX Company on Monday morning in the presence of Minister of Communications and Information Technology (ICT) and activists in public and private sector, the Public Relations Dept. of TIPAX Company reported.

Exports of sweets, chocolate up 21% on year

TEHRAN – The value of Iran’s sweet and chocolate exports increased by 21 percent in the first 11 months of the current Iranian calendar year (March 20, 2017- February 19,2018) compared to the previous year.

$20b is gathering dust in Iranian homes in anticipation of rial devaluation

TEHRAN – Encouraged by the continuous tumble in the country’s currency value, Iranians have flock to buy U.S. currency in anticipation of further depreciations, Tasnim reported quoting a member of the Iranian Parliament (Majlis)’s Economic Committee.

Pakistan welcomes Iran’s call for expansion of trade ties

TEHRAN – Iran and Pakistan discussed expansion of trade ties during a joint business forum on Monday in Islamabad, IRNA reported.

Port development projects worth $205m implemented in a year

TEHRAN- Some 40 projects have been implemented at the cost of 9.859 trillion rials (about $205 million) for developing and equipping the ports of Iran in the current Iranian calendar year (started on March 21, 2017), according to the head of Ports and Maritime Organization (PMO).

Liquidity at $325b in a month

TEHRAN- Iran’s liquidity stood at 14.63 quadrillion rials (about $325 billion) during the 10th Iranian calendar month of Dey (December 21, 2017- January 19, 2018), according to a report released by the Central Bank of Iran (CBI).

Over $2.5b allocated for creating jobs in rural areas

TEHRAN – Iran has allocated 120 trillion rials (about $2.67 billion) for creation of job opportunities in the rural areas, IRNA reported quoting an official as saying on Saturday.

Iran’s waste-to-energy capacity reaches 11 MW

TEHRAN – The capacity of waste-to-energy plants across Iran has reached 11 megawatts, the country’s Renewable Energy and Energy Efficiency Organization, known as Satba, announced on Sunday.

Tax revenue exceeds oil income for $1.7b

TEHRAN- According to the latest data released by the Central Bank of Iran (CBI), tax income in the period from March 21, 2017 to February 20, 2018 exceeded 76.1 trillion rials (about $1.7 billion) than the earned oil exports revenue, IRNA reported on Sunday.

Iran’s light crude oil price up 79 cents in a week

TEHRAN- Iran’s light crude oil price rose 79 cents in the week ended on March 2 to settle at $63.18 per barrel, Shana news agency reported on Sunday.

By: Ebrahim Fallahi

Iranian households, small industries leaning toward renewable energies

TEHRAN – Two weeks ago, Iran’s Renewable Energy and Energy Efficiency Organization (known as SATBA) announced that the number of small scale solar power plants across the country which are used by households or small industries has reached 841 units with a total capacity of 8184 kilowatts (KW) in the last two months.

Exclusive expo of Indian products starts operation in Tehran

TEHRAN- The exclusive exhibition of Indian products, “SOURCE INDIA IRAN”, became operational at Tehran Milad Tower on Saturday, IRIB news reported.

Iran-Qatar Joint Economic Committee meeting slated for mid-April

TEHRAN – The 6th round of Iran-Qatar Joint Economic Committee meeting is due to be held on April 16-17, in Doha, the portal of Iran’s Trade Promotion Organization (TPO) reported.

‘Developing joint fields’ gets biggest chunk of NIOC’s investment resources

TEHRAN – A review by the consolidated planning department of the National Iranian Oil Company (NIOC) showed that 56 percent of the company’s investment resources have been allocated to the development of joint oil and gas fields in the current Iranian calendar year (which ends on March 20).

By Haniyeh Sadat Jafariyeh

Dollar in doldrums

Iranians have been dealing with an ever-increasing devaluation of the rial since the beginning of the present Iranian calendar (March 21, 2017) but the major and unexpected depreciation occurred almost a month ago, in mid-February, when is supposed to be the biggest crackdown on foreign exchanges in six years.

Private sector to fund $556m for construction of freeways across Iran

TEHRAN – Iran’s Construction and Development of Transportation Infrastructures Company (CDTIC) signed 25 trillion rials (about $556.3 million) worth of deals with the country’s private sector for joint construction of 439 kilometers of freeways across the country.

Over $4.5b of agricultural products exported in 10 months

TEHRAN- Iran exported over 4.7 million tons of agricultural products worth $4.542 billion during the ten-month period ended on January 20, according to the deputy agriculture minister for planning and economic affairs.

Iran’s imports form U.S. down 40% in 11 months

TEHRAN- Iran’s imports of goods from the U.S. during the 11-month period ended on February 19 fell 40 percent compared to the same period of time in the previous year, according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

South Pars daily output to rise 56mcm in a year

TEHRAN- The daily production of gas from Iran’s South Pars gas field (shared with Qatar in the Persian Gul) will increase 56 million cubic meters (mcm) in the next Iranian calendar year (starting on March 21, 2018), according to the managing director of Pars Oil and Gas Company (POGC), which is in charge of developing the field.

7,350 cars imported in a month

TEHRAN- Iran imported 7,350 cars in the eleventh Iranian calendar month of Bahman (January 21-February 19), according to the latest data announced by the Islamic Republic of Iran Customs Administration (IRICA).

Iran cuts April crude prices for Asia to lure back buyers

TEHRAN - Iran has set April official selling price (OSP) of its Light crude oil for Asia 60 cents lower than the previous month, Reuters reported quoting an industry source with direct knowledge of the matter.

Iranian, Iraqi private sectors fortifying economic ties

TEHRAN- In a Thursday meeting at Karbala Chamber of Commerce, an Iranian trade delegation from Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) discussed increasing mutual ties with their Iraqi counterparts, the portal of ICCIMA reported.

IMF anticipates 3.8% GDP growth for Iran in 2018

TEHRAN- In a recent report, the International Monetary Fund (IMF) anticipated a real gross domestic product (GDP) growth of 3.8 percent for Iran in 2018.

First platform of SP phases 22-24 loaded

TEHRAN- Platform SPD-22, which is the first platform of the phases 22, 23, 24 of developing Iran’s South Pars gas field (in the Persian Gulf) was loaded at Sadra yard in the southwestern province of Bushehr on Thursday.

Non-oil trade near $90b in 11 months

TEHRAN- The value of Iran’s non-oil trade with foreign partners stood at $89.347 billion in the 11-month period ended on February 19, according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

Iranian trade delegation to visit Senegal, Brazil, Uruguay in mid-April

TEHRAN- Iran Chamber of Commerce, Industries, Mine and Agriculture (ICCIMA) delegation and Iranian Foreign Minister Mohammad Javad Zarif are scheduled to pay visits to Senegal, Brazil, and Uruguay from April 9 to 12, the portal of ICCIMA reported.

Agreement on Shiraz-Bushehr railway construction signed with Chinese Co.

TEHRAN- The agreement on construction of railway between Iran’s south-central city of Shiraz and the southwestern city of Bushehr, worth $700 million, was signed between Iranian Ministry of Transport and Urban Development and a Chinese company in Tehran on Wednesday.

Monthly exports from PSEEZ up 41% yr/yr

TEHRAN- The value of exports from Pars Special Economic Energy Zone (PSEEZ) rose by 41 percent during the Iranian calendar month of Bahman (January 21-February 19) compared to the same month last year, Shana reported.