Self-sufficiency in auto parts manufacturing at 80%

TEHRAN- Iran has achieved 80 percent self-sufficiency in manufacturing of auto parts, Iranian Auto Parts Makers Association Maziar Beyglou said in a TV program on Saturday.

Oil recovery from Azadegan oil field to increase by 3.5b barrels

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Tehran University is committed to increase Azadegan oil field’s recovery factor up to 10 percent from its current six percent, which means an increase of up to 3.5 billion barrels of the field’s recoverable reserves.

Iran’s steel production hits record of 30% growth in 2019: WSA

TEHRAN- Iran’s crude steel production increased by 30 percent in 2019 while the average global growth in this sector stood at 3.5 percent, according to a report released by the World Steel Association (WSA).

By: Ebrahim Fallahi

Iran gas situation: Are power plants facing feedstock shortage?

TEHRAN – Following the new wave of cold weather blanketing Iran in recent weeks, natural gas consumption by the Iranian households has hit new record highs, ringing warning bells about possible problems regarding fuel supply to the country’s power plants and industry sector which mainly consume natural gas.

NIDC digs 96 oil, gas wells in 10 months

TEHRAN- National Iranian Drilling Company (NIDC) dug and completed digging operation of 96 oil and gas wells during the first ten months of the current Iranian calendar year (March 21, 2019-January 20, 2020), Shana reported.

TPO to hold conference on sustainable supply of basic commodities

TEHRAN- Iran’s Trade Promotion Organization (TPO) is planning to hold a conference on the stable supply of basic and strategic commodities on March 3, the organization’s Public Relations Department reported.

Value of trades at TSE rises 30% in a week

TEHRAN- The value of trades at Tehran Stock Exchange (TSE) rose 30 percent in the past Iranian calendar week (ended on Friday), according to a report published on the official website of TSE.

IFCC calls for optimizing gas consumption as cold weather persists

TEHRAN – Iran Fuel Conservation Company (IFCC) has called for optimization of the consumption of energy carriers considering the country’s natural gas consumption has reached a record high in recent weeks, IRNA reported on Thursday.

Tehran hosting intl. bitumen, asphalt exhibition

TEHRAN- The 11th edition of International Bitumen, Asphalt, Insulation and Related Machinery Exhibition of Iran (BAIEX 2020) opened at the Tehran Permanent International Fairgrounds on Thursday, IRIB reported.

Foreign investment in Iran up 23% in 9 months

TEHRAN - Foreign investment in Iran has risen 23 percent during the first nine months of the current Iranian calendar year (March 21-December 21, 2019) from the same period of time in the past year, Iranian Finance and Economic Affairs Minister Farhad Dejpasand announced.

Iranian banks pay over $149b in loans since mid-March 2019

TEHRAN- Iranian banking system has paid 6.26 quadrillion rials (about $149 billion) in loans to domestic economic sectors since the beginning of the current Iranian calendar year (March 21, 2019), the governor of Central Bank of Iran (CBI) said on Tuesday.

Nearly 4,300 electricity projects inaugurated across Iran in a week

TEHRAN – Iranian Energy Ministry inaugurated 4,297 development projects worth 20 trillion rials (about $476 million) in the 13th week of the implementation of a major program called “A B Iran”, IRNA reported, quoting the Energy Minister Reza Ardakanian.

Inflation rate slides 1.4%: SCI

TEHRAN- The Statistical Center of Iran (SCI) announced that the inflation rate in the twelve-month period ended on January 20, which marks the end of the tenth Iranian calendar month of Dey, stood at 38.6 percent.

Commodities worth over $3b traded at IME in a month

TEHRAN- Over 2.851 million tons of commodities worth 133 trillion rials (about $3.1 billion) were traded at Iran Mercantile Exchange (IME) during the past Iranian calendar month of Dey (December 22, 2019-January 20, 2020), Tasnim news agency reported.

‘CBI taking necessary measures to support private sector, cooperatives’

TEHRAN – The governor of the Central Bank of Iran (CBI) said on Monday that his bank is focusing all its efforts to remove the currency-related barriers in the way of the country’s private sector and cooperatives’ trade activities, IRIB reported.

TPO to establish specialized export terminals for certain products

TEHRAN – Trade Promotion Organization (TPO) of Iran is tasked to establish specialized export terminals in certain provinces to facilitate the exports of some commodities, IRIB reported, quoting a senior official.

Kish Island hosting intl. energy exhibition

TEHRAN – Iran’s southern Kish Island is hosting the 16th edition of its international energy exhibition (Kish ENEX 2020) which is hosting over 140 foreign and domestic companies, IRNA reported.

By Mahnaz Abdi

Tavaniran match-making system to strengthen domestic production

TEHRAN- During a press conference on Tuesday, Domestic Production Center of Iran’s Ministry of Industry, Mining and Trade unveiled “Tavaniran system”, which is aimed at invigorate and strengthen domestic production through strong match-making between producers of Iranian products and the consumers inside the country.

Iran aiming to promote engineering services export to neighbors

TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) says his organization is focusing on improving the exports of engineering and technical services to the neighboring countries as well as China, and India, IRNA reported.

CBI to control forex market more through new monetary policy

TEHRAN- The governor of Central Bank of Iran (CBI) said the bank is controlling the forex market and plans to strengthen this control through a new monetary policy, IRIB reported.

‘Completion of Sistan-Baluchestan dam projects to be accelerated’

TEHRAN – Iranian Energy Minister Reza Ardakanian said the completion of two dam projects in the flood-stricken Sistan-Baluchestan province in southeastern Iran will be accelerated, IRNA reported.

South Pars gas field’s steady output at 630mcm per day

TEHRAN - Managing Director of Pars Oil and Gas Company (POGC), which is in charge of developing South Pars gas field, says all the field’s platforms are currently operational and producing 630 million cubic meters (mcm) of gas every day, Shana reported.

TPO to hold seminar on introducing Vietnam’s market in early February

TEHRAN- Iran’s Trade Promotion Organization (TPO) plans to hold a seminar on introducing the markets of Vietnam on February 4.

By Mahnaz Abdi

Trade centers in regional countries to spur non-oil exports

Reimposition of the U.S. sanctions on Iranian economy has led the Islamic Republic to reduce its dependence on oil revenues and elevate its other sources of income instead; while increasing non-oil exports has come as the most significant approach in this regard.

Bank Maskan offers over 100,000 loans in 9 months

TEHRAN - Bank Maskan, the acting bank of Iran's housing sector, has provided 100,000 loans for the housing development during the first nine months of the current Iranian calendar year (March 21-December 21, 2019), Mehr news agency reported on Saturday.

Iran’s daily gas consumption hits new record high

TEHRAN – Iran’s daily natural gas consumption hit a record high of 592 million cubic meters (mcm) a day due to the recent heavy snowfall and cold weather which has blanketed the country, said the spokesman of the National Iranian Gas Company (NIGC).

2mt of idle petchem production capacity to be revived next year

TEHRAN - Nearly two million tons capacity of Iran’s idle petrochemical units will be revived in the next Iranian calendar year (starts on March 20), IRNA reported on Saturday, quoting a manager with the National Petrochemical Company (NPC).

Domestic production saves Iran over €1.2b since Mar. 2019

TEHRAN - Iran's deputy industry, mining, and trade minister for industry affairs says domestic production has saved the country over €1.2 billion since the beginning of the current Iranian calendar year (March 21, 2019), IRIB reported.

BY: Ebrahim Fallahi

ICCIMA unveils agribusiness training program

TEHRAN – Iran Chamber of Commerce, Industries, Mines and Agriculture hosted a ceremony on Saturday for unveiling the country’s first agricultural business training program (called NABKA).

TEDPIX hits record high of 400,000 points

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), posted a new record on Saturday, as it jumped 10,516 points to stand at 409,962, IRNA reported.