‘EU plans to finalize SPV as soon as possible’

TEHRAN- In a way to counter the U.S. sanctions on Iran, European Union plans to finalize the special purpose vehicle (SPV) as soon as possible to facilitate export and import processes between EU members and Iran, Tarja Cronberg, the head of the European Parliament delegation for relations with Iran, stated.

U.S., Saudi plans for replacing Iranian gas in Iraq doomed to failure

TEHRAN – Considering Iraq’s geopolitical improvements in the past few years, the Iraqi government has been seeking to improve the country’s infrastructure and one of the main areas of focus has been Iraq’s electricity network and power infrastructures.

Minerals export rises 7% in 8 months yr/yr

TEHRAN- The value of Iran’s minerals export during the first eight months of the current Iranian calendar year (March 21-November 21) rose seven percent compared to that of the same period of time in the past year, IRIB reported citing the data released by the Ministry of Industry, Mining and Trade.

Iranian MPO, industry ministry ink MOU to create 270,000 jobs

TEHRAN - Management and Planning Organization of Iran (MPO) and the Ministry of Industry, Mining and Trade signed a memorandum of understanding (MOU) based on which the two sides will allocate 210 trillion rials (about $5 billion) to create 270,000 job opportunities across the country.

‘Iran ditches dollar in transactions with several countries’

TEHRAN- Iran has made mutual monetary agreements with some countries on the way to abolish U.S. dollar in its financial transactions and the issue will be incrementally generalized to other countries in future,” the governor of the Central Bank of Iran (CBI) announced in a meeting with Iranian economists on Monday, IRNA reported.

First VP Jahangiri inaugurated water desalination, power plants in Hormozgan province

Major water, power projects come on stream

TEHRAN- Iranian First Vice-President Es’haq Jahangiri inaugurated the first phase of the country’s biggest water desalination project and a 160-megawatt power plant in the southern province of Hormozgan on Tuesday, IRNA reported.

Iran-Iraq trade delegation exchange up 137% in 9 months

TEHRAN - Iran's commercial attaché in Iraq said the exchange of trade delegations between Iran and Iraq has increased by 137 percent since March, compared to the same period last year.

Iran, China resume banking transactions

TEHRAN- “Iran and China resume their joint banking relations from today”, Deputy Head and speaker of Iran-China Joint Chamber of Commerce Majid-Reza Hariri announced on Monday, Tasnim news agency reported.

TCCIMA honors exemplary exporters

TEHRAN- In a ceremony on Monday, Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) honored 15 exemplary exporters of Tehran Province, TCCIMA website reported.

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

TEHRAN- The third 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, operator of the phases announced.

Tehran hosting Caspian states’ meeting on maritime safety, security

TEHRAN- The fourth meeting of Collaboration on Maritime Safety and Security in Caspian Sea kicked off in Tehran on Monday participated by the representatives from five littoral states, IRNA reported.

Stock market index rises 73% since March

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) has increased 73.3 percent since the beginning of current Iranian calendar year (March 21, 2018), Tasnim news agency reported on Sunday.

Iraq welcomes Iranian participation in renovation projects

TEHRAN- In a meeting with the Secretary of the Committee of Expanding Economic Relations with Iraq and Syria Hassan Danaieefar, Iraqi Minister of Construction and Housing Bengin Rikani voiced his country’s tendency for cooperation of Iranian companies in renovation projects in Iraq, IRNA reported on Sunday.

Dairy products prices drop 9%

TEHRAN- According to the secretary of Iran Dairy Industries Society, the prices of milk and other dairy products experience a decrease of nine percent since Sunday, IRNA reported.

Shasta’s new managing director appointed

TEHRAN- Mohammad Rezvanifar was appointed as the new managing director of Iran’s Social Security Investment Company (SSIC, also known by its Persian acronym Shasta), Tasnim news agency reported on Sunday.

Renewable power purchase prices to rise 40% in peak periods

TEHRAN - Seyed Mohammad Sadeqzadeh, head of Iran’s Renewable Energy and Energy Efficiency Organization (known as SATBA), said the Energy Ministry is going to increase the guaranteed purchase prices for renewable electricity generation during the year’s first six months when the consumption is higher.

Iran, Russia call for supporting private sectors in sanctions era

TEHRAN- Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and president of Chamber of Commerce and Industry of the Russian Federation stressed the need for supporting the two countries’ private sectors in the sanctions era.

Aluminum production by major companies rises 3.2% in 8 months yr/yr

TEHRAN- Iran’s major aluminum producers produced 231,031 tons of aluminum during the eight-month period from March 21 to November 21, which shows 3.2 percent growth from the figure of the same period of time in the past year, according to the data released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Representatives from 5 Caspian Sea states to meet in Tehran on Monday

TEHRAN- Representatives from five Caspian Sea littoral states are to attend the 4th meeting of Collaboration on Maritime Safety and Security in the Caspian Sea in Tehran on December 10-11, IRNA reported on Saturday.

‘Strengthening rial, supplying working capital top priorities of banks’

TEHRAN- In his periodical meeting with directors from state-run and private Iranian banks, the governor of the Central Bank of Iran (CBI) called for the banks to have strengthening the national currency and supplying the working capital of production units while granting facilities among their top priorities, IRIB reported on Saturday.

Over 208m tons of commodities worth $214m traded in IME in a week

TEHRAN- During weekdays ending up to December 6, approximately, 208,424 million tons (MT) of commodities worth over $214 million were traded in Iran Mercantile Exchange (IME).

1,370 industrial units resume activity since March

TEHRAN- Some 1,370 industrial units that had stopped their activity have resumed their operation since the beginning of current Iranian calendar year (March 21, 2018), Iran’s Industry Minister Reza Rahmani announced.

NIMA supplies €6.8b for imports of goods, services

TEHRAN- Since becoming online in early July, Iran’s domestic Forex Management Integrated System (locally known as NIMA) has earned €6.8 billion of foreign currency to be consumed for imports of goods and services into the country, IRIB reported on Saturday.

By: Ebrahim Fallahi

Oil’s love triangle ends up with Trump in tears

These days whenever there is talks about oil market three names are inevitably come to surface, the U.S. President Trumps, Russian President Putin and Saudi Crown Prince Mohammed Bin Salman.

India to import Iranian oil using rupee payment mechanism: source

India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on Thursday, adding that 50 percent of those payments will be used for exporting items to Tehran.

Iraq needs 2 years to stop Iranian gas imports: energy official

Iraq needs at least two years to boost the country’s gas production to stop importing Iranian gas used to feed its power stations, a senior Iraqi energy official said on Thursday.

OPEC agrees on larger-than-expected oil cut after marathon talks

OPEC finally broke an impasse over production curbs, agreeing on a larger-than-expected cut with allies after two days of fractious negotiations in Vienna.

China's Iran oil imports to rebound in December as buyers use U.S. waivers

China’s Iranian oil imports are set to rebound in December after two state-owned refiners in the world’s largest oil importer began using the nation’s waiver from U.S. sanctions on Iran, according to industry sources and data on Refinitiv Eikon.

PMO starts 3 investment projects worth $40.4m in Chabahar

TEHRAN- Iran’s Ports and Maritime Organization (PMO) launched three investment projects worth 1.7 trillion rials (about $40.4 million) in Chabahar port city in southeast of the country on Thursday, IRNA reported.

Petchem exports up 32% in 8 months on year

TEHRAN- Iran’s value of petrochemical exports during the first eight months of the current Iranian calendar year (March 21-November 21) rose 32 percent compared to the same period of time in the past year, Tasnim news agency reported citing the data released by the Islamic Republic of Iran Customs Administration (IRICA).