Industry ministry to amend tax exemption regulations for free zones

TEHRAN – Iran’s Deputy Finance and Economic Affairs Minister said the ministry is planning on amending the regulations pertain to tax exemptions in the country’s free economic zones.

Iran, Turkmenistan draft document on energy, transportation co-op

TEHRAN – Iran and Turkmenistan have prepared a document for cooperation in energy and transportation areas on the sidelines of the 15th Iran-Turkmenistan Joint Economic Committee meeting, Tasnim news agency reported on Sunday, quoting a senior official.

Annual saffron output to reach 430 tons by Mar. 2020

TEHRAN- Production of saffron in Iran will reach 430 tons in the current Iranian calendar year (ends on March 19, 2020), according to an official in the Ministry of Agriculture.

Iran’s economy moving forward: CBI governor

TEHRAN –Governor of the Central Bank of Iran (CBI) said that the positive balance in Iran’s non-oil trade is an indication that the country’s economy is moving forward, Mehr news agency reported.

Path for legal trade with Iran open: BICC

TEHRAN - Vice-President of the British-Iranian Chamber of Commerce (BICC) Richard Dalton said on Friday that the channel for legal trade with Iran is still open despite U.S. sanctions against the country.

Iran plans to build 200 cargo ships inside country

TEHRAN – Iranian industry, mining and trade minister said Iran is planning to build 200 cargo ships inside the country based on its maritime development program, Tasnim news agency reported.

‘EAEU ready for vast trade ties with Iran’

TEHRAN- Eurasian Economic Union (EAEU) is ready for vast trade ties with Iran, Veronika Nikishina, the union’s minister of trade, told IRNA on Saturday.

Iran, Iraq to synchronize power grids by yearend

TEHRAN - Deputy Head of Iran Electricity Industry Syndicate said power grids of Iran and Iraq will be interconnected by the end of 2019, Mehr news agency reported.

ISIPO revives 600 idle production units

TEHRAN – Iran Small Industries and Industrial Parks Organization (ISIPO) has revived 600 idle production units since the beginning of the current Iranian calendar year (March 21, 2019), IRNA reported on Wednesday.

Monthly steel products exports rise 60% yr/yr

TEHRAN- Iran exported 584,000 tons of steel products during the sixth Iranian calendar month of Shahrivar (August 23-September 22), which was 60 percent more than the figure of the same month in the past year, IRIB reported on Wednesday citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Industry minister holds talks with private sector representatives

TEHRAN – Representatives of Iran’s private sector met with the Industry, Mining and Trade Minister Reza Rahmani and his deputies on Tuesday at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).

'Iran can meet Europe, India’s renewable energy needs'

TEHRAN - Head of Iran’s Renewable Energy and Energy Efficiency Organization (known as SATBA) said Iran can supply the energy needs of Europe and India through its great renewable capacities, IRNA reported.

Ashgabat hosts 15th Iran-Turkmenistan Joint Economic Committee meeting

TEHRAN – The 15th Iran-Turkmenistan Joint Economic Committee meeting was held on Tuesday in Turkmenistan’s capital Ashgabat, IRNA reported.

TSE’s recent performance unique worldwide: Swiss envoy

TEHRAN- “Tehran Stock Exchange (TSE) has had a unique performance among the stock markets of the world during the recent months and it inspired me to visit this exchange market”, Swiss Ambassador to Tehran Markus Leitner told IRIB on Tuesday.

BY: Ebrahim Fallahi

“Oil for development” budget, challenges and opportunities

TEHRAN – Iran has recently announced that its next fiscal year’s budget is going to be set with less reliance on oil revenues.

Annual garden, greenhouse products anticipated to rise 17% by Mar. 2020

TEHRAN- Production of garden and greenhouse products in Iran is anticipated to increase 17 percent in the current Iranian calendar year (ends on March 19, 2020) from that of the previous year, deputy agriculture minister announced.

Plan for supplying nomadic households with mobile PV systems underway

TEHRAN – Iran’s Energy Ministry has started a plan for providing 25,000 nomadic households across the country with portable photovoltaic systems so that they could use electricity during migration.

TPO offers roadmap for promoting non-oil exports

TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) said a roadmap has been prepared for promoting the country’s non-oil exports to 15 neighboring countries, Tasnim news agency reported on Monday.

'Budget allocated for development projects to rise 53% next year'

TEHRAN – Head of Iran’s Planning and Budget Organization (PBO) said 430 trillion rials (about $10.2 billion) is going to be allocated for development projects in the next year’s budget plan, up 53 percent from the figure for the current year.

Iran’s renewable electricity generation capacity doubled

TEHRAN- The capacity of generating electricity from renewable resources has reached 841 megawatts (MW) in Iran, nearly double the figure for the last year’s same period, IRNA reported, quoting an energy official.

Chabahar Port’s capacity quadruples in less than 2 years: PMO head

TEHRAN- The head of Iran’s Ports and Maritime Organization (PMO) announced that through inaugurating the first phase of Chabahar Port’s development plan, the port’s capacity has increased four times in less than two years, IRIB reported on Monday.

Coal concentrate output up 13% in a month on year

TEHRAN- Production of coal concentrate in Iran increased 13 percent in the past Iranian calendar month of Shahrivar (August 23-September 22) compared to the same month in the past year, IRIB reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

IME launches futures contract for pistachio deals

TEHRAN- In a bid for more risk management in the country’s capital market, Tehran Stock Exchange (TSE) officially launched futures contract during a ceremony held last December at the place of Central Securities Depository of Iran (CSDI), which is the sole registrar, central custodian and clearing house for the Iranian stock market.

Iran unveils online power plant monitoring system

TEHRAN – Iranian Energy Minister Reza Ardakanian unveiled the first phase of a system for online monitoring of the country’s power plants, portal of the ministry (Paven) reported on Sunday.

Gas field discovered with $40b worth of reserves

TEHRAN – A new gas field with 13,000 billion cubic feet of recoverable reserve and 385 million barrels of condensate, valued at $40 billion, has been discovered in Fars province, southern Iran.

Iran’s external debt in 2018 down 6.5% on year: WB

TEHRAN – World Bank (WB) in its latest report on global debts dubbed “International Debt Statistics 2020” has put Iran’s external debts for 2018 at $6.324 billion, down about 6.5 percent from $6.761 billion in 2017.

Intl. kitchen expo underway in Tehran

TEHRAN – The third edition of Iran’s International Trade Show for Hotel, Restaurant and Catering Equipment (Iran Kitchen 2019) kicked off on Friday at Tehran’s Shahr-e-Aftab Exhibition Center.

Iran, the Netherlands mulling over water, power co-op

TEHRAN – Iran and the Netherlands are considering cooperation in water and electricity sectors, especially in water management and flood control, the portal of Iran’s Energy Ministry (known as Paven) reported.

Industry, mining sectors witness 18% growth in H1

TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani announced that industry and mining sectors of the country have experienced a growth of 18 percent during the first half of the current Iranian calendar year (March 21-September 22) compared to the same period of time in the past year, IRNA reported on Saturday.

Oil output from West Karoun region to rise by March 2020

TEHRAN- Production of oil from West Karoun oilfields is expected to increase by 10,000 barrels per day (bpd) by the end of the current Iranian calendar year (March 19, 2020), IRNA reported on Thursday, quoting an oil official as saying.