Cabinet approves €2b finance for 4 power plant, railway projects

TEHRAN – Iranian cabinet approved €2b finance proposed by Planning and Budget Organization (PBO) for implementation of four power plant and railway projects, IRNA reported.

Energy minister to visit Moscow for pursuing Russia’s $5b loan to Iran

TEHRAN- Iranian Energy Minister Reza Ardakanian said that he will leave Tehran for Moscow on Thursday to follow up the issue of Russia’s allocation of $5 billion of loan for implementation of development projects in Iran.

‘Lack of roadmap, main problem for Iranian producers’

TEHRAN – Head of Iranian Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) believes lack of a comprehensive roadmap and planning to be the main problem of the country’s productive sector, IRNA reported.

Leader urges domestic producers not to wait for sanctions to end

TEHRAN – Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei called on the country’s producers to solely rely on their own capabilities to boost the country’s economy and not to wait for U.S. sanctions to end.

3 platforms of South Pars to be installed by Mar. 2020

TEHRAN- Three platforms of South Pars gas field (Iran shares with Qatar in the Persian Gulf) are planned to be installed at their designated offshore places by the end of current Iranian calendar year (March 19, 2020), Shana reported.

Next year’s budget bill envisages nearly $23b for Tehran Province

TEHRAN- The governor general of Tehran Province said the budget bill for the next Iranian calendar year (starts on March 20, 2020) has envisaged 9.62 trillion rials (about $22.9 billion) for Tehran Province, IRNA reported.

Drinking water to be supplied to 1,124 villages by Mar. 2020

TEHRAN – Iranian Energy Minister Reza Ardakanian announced that drinking water will be supplied to 1,124 villages throughout the country by the end of current Iranian calendar year (March 20, 2020), IRNA reported.

Oil ministry announces new terms for offerings at IRENEX

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh on Monday released a statement in which new regulations and procedures for offering oil and gas condensate at Iran Energy Exchange (IRENEX) were listed, Shana reported.

Iron ore concentrate output rises 4% in 7 months on year

TEHRAN- Production of iron ore concentrate in Iran during the first seven months of the current Iranian calendar year (March 21-October 22) has risen four percent compared to the same period of time in the past year, IRIB reported on Tuesday citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

BY: Ebrahim Fallahi

Iran revives gasoline rationing scheme, what to expect

TEHRAN – Four years after President Rouhani decided to put a stop on a fuel rationing plan which was the legacy of President Ahmadinejad’s government, once again on Friday, the government announced a decision on reviving the scheme and also a rise in gasoline prices.

Iran’s international bourse to be set up by Mar. 2020

TEHRAN- Iran will establish its first international bourse by the end of the current Iranian calendar year (March 19, 2020), managing director of Kish Free Zone Organization announced on Monday.

TEDPIX up 2,000 points in a day

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 2,000 points to 304,688 on Tuesday, IRIB reported.

Tehran hosting intl. exhibition of household appliances

TEHRAN- The 19th International Exhibition of Household Appliances of Iran kicked off at Tehran Permanent International Fairground on Tuesday, IRNA reported.

Several dams, power plants to be inaugurated in Iran by Mar. 2020

TEHRAN – Iranian Energy Minister Reza Ardakanian said nine thermal power plants as well as 10 dams are going to go on stream across the country by the end of the current Iranian calendar year (March 19, 2020), the portal of Energy Ministry (known as Paven) reported on Monday.

Govt. to pay nearly $72b of cash subsidies next year: PBO head

TEHRAN – Head of Iran’s Planning and Budget Organization (PBO) estimated the total direct and indirect subsides which the government is going to pay to people in the next Iranian calendar year (March 2020-March 2021) to be 3.02 quadrillion rials (about $71.9 billion), IRIB reported.

By Mahnaz Abdi

Imposing duty on exports of iron ore a right decision?

In a bid to prevent the exports of unprocessed minerals, creating more value added and meeting the requirements of domestic producers for the raw materials, Iran has levied a 25-percent duty on the exports of raw minerals (specially iron ore) since September 23.

Iran, China form joint arbitration committee for trade ties

TEHRAN – Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) said Iran and China have established a joint arbitration committee to supervise the trade between the two sides.

Expansion of trade ties discussed between Iran, Georgia

TEHRAN – Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie met with Head of Parliamentary Friendship Group of Georgia-Iran Shalva Kikenaveldezia on Sunday to discuss expansion of trade ties.

‘Gasoline rationing could bring Iran $3b of exports revenue a year’

TEHRAN - Deputy minister of economic affairs and finance of Iran says the fuel rationing plan would make the country able to export 3.65 billion liters of gasoline every year and earn about 14 trillion rials (about $3.3 billion) from the exports.

Southwestern Iranian port to be connected to Syria through Iraq

TEHRAN – Iran plans to connect its southwestern port of Emam Khomeini to Syria’s Latakia Port via a railway which passes through Iraq, IRIB reported, quoting head of the Islamic Republic of Iran Railways (IRIR).

Iran’s 7-month non-oil imports down over 5% yr/yr

TERHAN - The value of non-oil imports to Iran stood at $25 billion in the first seven months of the current Iranian calendar year (March 21-October 22), down 5.3 percent from the figure for last year’s same period, IRNA reported.

Iranian, Chinese private sectors stress co-op of SMEs

TEHRAN – A trade delegation from Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) attended a meeting with representatives of Shanghai International Cooperation Association of Small and Medium Enterprises (SME), wherein the two sides stressed expansion of cooperation between their SMEs.

IGTC completely ready for gas supply during winter

TEHRAN- Iranian Gas Transmission Company (IGTC)’s managing director said his company is completely prepared for sustainable gas supply throughout the country during winter, Shana reported.

No worries over supply of basic goods: GTC head

TEHRAN – Managing director of Iranian state-run Government Trading Corporation (GTC) said there are no worries over the supply of basic goods in the country, IRIB reported.

TEDPIX down 4,500 points in a day

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 4,300 points to 302,340 on Sunday, IRIB reported.

Housing price up 4.5% in Tehran City in summer

TEHRAN- Housing price in Tehran City has risen 4.5 percent during the past summer compared to the spring, Tasnim news agency reported on Saturday citing the data release by the Statistical Center of Iran (SCI).

Govt. supports fuel rationing plan

TEHRAN – Iran’s Supreme Economic Coordination Council called on all the country’s institutions and entities to cooperate in implementation of the fuel consumption management plan, IRNA reported.

‘Gasoline price hike doesn’t entail any increase in commodity prices’

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani said any increase in commodity prices on the pretext of gasoline price hike is illegal, Shana reported.

Exports of metallic minerals, products up nearly 12% in H1

TEHRAN – The value of Iran’s metallic minerals and products exports increased by 11.7 percent in the first six months of the current Iranian calendar year (March 21-September 22) compared to the figure for last year’s same period, IRNA reported on Saturday.

‘Rationing expected to reduce gasoline consumption’

TEHRAN - Gasoline consumption in Iran is expected to fall up to 10 percent, considering the recent price increase and implementation of rationing plan, Tasnim news agency reported on Saturday, quoting managing director of National Iranian Oil Products Distribution Company (NIOPDC).