Petchem projects worth $8.5b underway

TEHRAN- Petrochemical projects worth $8.5 billion are under implementation throughout the country, Persian Gulf Petrochemicals Industries Company (PGPIC)’s managing director announced.

Trade between Iran, Azerbaijan rises 75% in 6 months

TEHRAN- The value of trade between Iran and Azerbaijan during the first half of the current Iranian calendar year (March 21-September 22) has risen 75 percent compared to that of the same period of time in the previous year, the chairman of Iran-Azerbaijan Joint Chamber of Commerce told ILNA.

IRICA’s anti-sanctions package being implemented

TEHRAN- Head of the Islamic Republic of Iran Customs Administration (IRICA) Foroud Asgari announced on Monday that his organization’s package to tackle U.S.-led sanctions, back domestic production and spur exports of Iranian goods is being implemented, IRNA quoted him as saying.

No spare capacity in market to replace Iranian oil: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that the oil market doesn’t have the spare capacity to replace Iranian oil in case of U.S. re-imposition of sanctions on the country.

By Zahra Khezri

Europe tries to ensure connection of at least one Iranian bank with the world: French senator

TEHRAN – French Senator Philippe Bonnecarrere, who heads the France-Iran friendship group in the upper house of parliament, says that European nations are seeking to ensure that at least one Iranian bank stay connected to the world after the U.S. imposed new sanctions on Tehran.

Nominal electricity generation capacity reaches 79.665GW

TEHRAN – Nominal electricity generation capacity in Iran increased by 340 megawatts (MW) compared to the H1 (March 21-Septemebr 22) figure which was 79,325 MW, Tasnim news agency reported on Sunday.

Bank loans to economic sector rise 12% in H1

TEHRAN- According to the latest report released by the Central Bank of Iran (CBI), the granted banking facilities to domestic economic sectors witnessed 12.1 percent growth during the first half of the present Iranian calendar year (March 21-September 22) compared to the same period of time in the past year, IRIB reported.

NDF pays $766m of facilities to different sectors in 6.5 months

TEHRAN- Iran’s National Development Fund (NDF) has paid 32.2 trillion rials (about $766.6 million) of facilities to different sectors during the 6.5-month period started on the beginning of current Iranian calendar year (March 21, 2018).

TSE head reveals new plans

TEHRAN- The recently appointed Head of Tehran Stock Exchange (TSE) Ali Sahraie revealed the state-run body’s new plans to develop Iranian capital market, Tasnim news agency reported on Sunday.

Iran, Oman willing to set up a joint fund for trade

TEHRAN- Iran and Oman are willing to set up a joint fund for bilateral trade, Iran-Oman Joint Chamber of Commerce Chairman Mohsen Zarrabi told ILNA on Sunday.

‘Railroad expansion in need of €20b investments’

TEHRAN- Some €20 billion is needed to supply the required infrastructure for development of national railway network by March 2021, the Managing Director of Islamic Republic of Iran Railways (known as RAI) Saeed Mohammadzadeh announced in a meeting on Sunday, IRNA reported.

Over $5b of loans paid to industrial units in 5 months

TEHRAN- Some 212.552 trillion rials (about $5.06 billion) of loans has been paid to 29,000 industrial units throughout the country during the first five months of the current Iranian calendar year (March 21-August 22), ILNA reported on Saturday.

Asia oil buyers said to see more chance for U.S. waivers on Iran

Asian buyers of Iranian oil are gaining confidence they will win U.S. consent for some imports to continue even after American sanctions snap back next month.

‘Pumping foreign currency into secondary market to be accelerated’

TEHRAN- “Within the next few weeks, the procedure of injecting non-oil exports revenues into the foreign exchange secondary market will be lubricated to supply the required forex sources for imports,” the Public Relations Department of the Central Bank of Iran (CBI) quoted the bank’s Governor Abdolnaser Hemmati as saying on Saturday.

Meeting on trade in national currencies held in Ankara

TEHRAN- The meeting on Trade in National Currencies' Challenges and Opportunities started work with the attendance of Iran, Turkey, Russia and India at the Center for Iranian Studies in Ankara on Friday, IRNA reported.

By: Ebrahim Fallahi

Private sector from Iran, Syria light the flame

Economic co-op MOU signed between Tehran, Damascus

TEHRAN – Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) and the Federation of Syrian Chambers of Commerce inked a memorandum of understanding (MOU) on Saturday addressing issues regarding long-term cooperation.

Iranian oil armada heads to China ahead of U.S. sanctions

An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon.

Iran, Germany ink MOU on industrial, training co-op

TEHRAN – Iran and Germany signed a memorandum of understanding (MOU) for cooperation in training and education of industry managers and entrepreneurs on Wednesday in Germany, IRNA reported on Thursday.

Iran’s oil exports total 2.2m bpd in first 2 weeks of Oct.

Iranian crude oil and condensate exports averaged 2.2 million barrels per day (bpd) in the first two weeks of October, an increase of 195,618 bpd over the full month of September, Kallanish Energy reports.

By Mahnaz Abdi

Debate over offering crude oil at IRENEX to tackle sanctions

The issue of offering crude oil in the stock market of Iran dates back to the Iranian calendar year of 1379 (March 2000-March 2001). Since then it has come on the table several times but was never materialized.

TEDPIX up 90% since March

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) has increased 86,639 points or 90 percent since the beginning of current Iranian calendar year (March 21, 2018), Mehr news agency reported on Friday.

China inks deal in Iran for co-manufacturing desalination equipment

TEHRAN - Industrial Development & Renovation Organization of Iran (IDRO) and Chinese ZSM Company signed a deal for cooperation in manufacturing high-tech reverse osmosis water desalination equipment and machinery and also for transferring the technical know-how into Iran.

Turkey’s Tupras in talks with U.S. for Iran sanctions waiver

Turkey’s top refiner, Tupras, is in talks with U.S. officials to obtain a waiver allowing it to keep buying Iranian oil after Washington reinstates sanctions on the Islamic Republic’s energy sector in November, industry sources said.

NIGC exports 7.1m tons of LPG in 6 months

TEHRAN- National Iranian Gas Company (NIGC) exported 7.1 million tons of liquefied petroleum gas (LPG) in the first half of the current Iranian calendar year (March 21-September 22), the managing director of company announced.

Iran, Russia, Azerbaijan hold meeting on synchronizing power grids

TEHRAN- A trilateral taskforce between Iran, Russia and Azerbaijan on synchronizing the power grids of the three countries held its first meeting in Russia, IRIB reported on Tuesday.

NIMA setting port tariffs

TEHRAN- A deputy from Iran Maritime and Port Organization (MPO) announced on Wednesday that port tariffs, regarding the rate of rial against dollar, are being calculated at domestic Forex Management Integrated System (locally known as NIMA), IRNA reported.

Over $580m of FDI approved for industry, mining, trade projects in 5 months

TEHRAN- Some $580.7 million of foreign direct investment (FDI) has been approved by the Iranian Ministry of Industry, Mining and Trade during the first five months of the current Iranian calendar year (March 21-August 22), IRNA reported on Wednesday.

Iran to sign 3rd IPC-based deal within 2 weeks

TEHRAN – National Iranian Oil Company (NIOC) is expected to sign the third IPC-based deal with a foreign company within two weeks, ISNA reported on Wednesday quoting NIOC’s Managing Director Ali Kardor.

U.S. ‘zero Iranian oil’ plan a political bluff: NIOC head

TEHRAN – Head of National Iranian Oil Company (NIOC) called the U.S.’s efforts for reducing Iranian oil exports to zero a “political bluff” saying, Trump had been trying to reduce Iran’s oil exports for months.

Crude oil sales to initiate at IRENEX since Oct. 28

TEHRAN- Offering crude oil at Iran Energy Exchange (IRENEX) will be commenced on October 28 to thwart U.S. sanctions, ISNA quoted Deputy Oil Minister Ali Kardor as saying on Tuesday.