‘Boosting domestic production a must, even after sanctions’

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani said developing the country’s domestic production must be seriously pursued whether the country is under sanctions or not, Shata reported.

Switzerland asks Iran to join “Blue Peace” movement

TEHRAN – Swiss Ambassador to Tehran Markus Leitner called on Iranian Energy Ministry to join the Blue Peace movement, the portal of the Energy Ministry (Paven) reported.

Majlis committee approves next year’s budget bill

TEHRAN- The Iranian parliament (Majlis)’s Planning and Budget Committee on Monday approved the 1.988 quadrillion rials (about $473.5 billion) national budget bill for the next Iranian calendar year, starting March 20, Shana reported, quoting a member of the committee as saying.

NITC overhauls 10 oil tankers since March

TEHRAN- National Iranian Tanker Company (NITC) has overhauled 10 oil tankers since the beginning of current Iranian calendar year (March 21), the company’s managing director told Mehr news agency.

CAO authorizes 16 domestic companies to build plane parts

TEHRAN - Iran Civil Aviation Organization (CAO) has authorized 16 domestic companies for designing and manufacturing the aviation fleet’s required equipment and items, IRNA reported on Monday, quoting CAO head as saying.

Capacity of Iran’s rail freight transport to rise 5m tons

TEHRAN – Head of Islamic Republic of Iran Railways (known as RAI) says the country’s rail freight transportation capacity is going to increase by five million tons in near future, IRIB reported.

Iranians welcome dual-fuel cars as gasoline prices rise

TEHRAN – Head of National Iranian Oil Products Distribution Company (NIOPDC) says since the implementation of the gasoline rationing scheme and the increase in the prices, people are leaning more toward dual-fuel cars.

Iran denies being on FATF blacklist

TEHRAN - Head of Financial Information Department at Iran’s Ministry of Finance and Economic Affairs rejected the reports that Iran has been put on the Financial Action Task Force (FATF)’s blacklist, IRIB reported.

Over 3,000 km of railways, 1,200 km of freeways under construction in Iran

TEHRAN- Iranian Deputy Transport Minister Kheirollah Khademi announced that over 3,000 kilometers of railways and 1,200 kilometers of freeways are currently under construction in the country, IRNA reported.

Domestic production saves Iran over €400m in 6 months

TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani said that relying on domestic production has saved €412 million for the country over the past six months in which six desks have been held on the matter, IRNA reported.

Iranian bank to offer $1.54b of facilities for manufacturing dual-fuel cars

TEHRAN – Iran’s Mellat Bank has signed a memorandum of understanding (MOU) with the National Iranian Oil Refining and Distribution Company (NIORDC) to allocate 65 trillion rials (about $1.54 billion) for manufacturing dual-fuel vehicles for the country’s public transportation fleet, IRNA reported.

BY: Ebrahim Fallahi

Small-scale petchem plants, huge potentials for a brighter future

TEHRAN – Having the world's second largest gas reserves, Iran has a great potential for expansion of its petrochemical industry which is playing a great role in the country’s economy.

Preferential trade with Eurasia exceeds $194m in a month

TEHRAN - Head of Islamic Republic of Iran Customs Administration (IRICA) says the value of Iran’s preferential trade with Eurasian countries has reached $194.2 million since the trade agreement with the Eurasian Economic Union (EAEU) was implemented on October 27 up to the end of November.

Int. transportation exhibition to kick off in Tehran tomorrow

TEHRAN- The fourth edition of Iran’s International Exhibition of Transportation, Logistics and Related Industries will kick off at Tehran's Imam Khomeini Grand Prayer Campus (Mosalla) on Sunday, IRIB reported.

Caspian Sea oil exploration operations underway

TEHRAN – Managing Director of Khazar Exploration and Production Company (KEPCO), a subsidiary of National Iranian Oil Company which handles exploration operation in the Caspian Sea region in Northern Iran, said exploration operations are underway in the region.

IFX hits record high of 4,392 points

TEHRAN- IFX, the main index of Iran's over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), hit a record high of 4,392 points in the past Iranian calendar week (ended on Friday), IRNA reported.

Iran, Uzbekistan stress all-out expansion of economic ties

TEHRAN – Iran, and Uzbekistan emphasized the expansion of relations in all economic areas during the two countries’ 13th Joint Economic Committee meeting in Tashkent on Thursday, the Iranian Industry Ministry’s news portal Shata reported.

3000MW to be added to Iran’s power generation capacity by March 2020

TEHRAN – Iranian Energy Minister Reza Ardakanian says the country’s power generation capacity is going to be increased by 3000 megawatts (MW) by the end of the current calendar year (March 19, 2020).

Exclusive exhibition of Iranian products opens in Tashkent

TEHRAN- An exclusive exhibition of Iranian products opened in Uzbekistan capital city Tashkent on Wednesday and will wrap up on Friday, Shata reported.

China strongly opposes U.S. unilateral sanctions against Iran: envoy

TEHRAN - Chinese Ambassador to Iran Chang Hua voiced his country’s strong opposition with the U.S.’s unjust and unilateral sanctions against Iran in a meeting with the Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie.

Exports of Iranian SMEs at $1.5b in Mar.-Nov.

TEHRAN - Iranian small and medium-sized enterprises (SMEs) exported $1.5 billion worth of commodities in the first eight months of the current Iranian calendar year (March 21-November 23), IRNA reported, quoting an official with Iran Small Industries and Industrial Parks Organization (ISIPO).

Tehran, Tashkent explore expansion of trade ties

TEHRAN- During a meeting between Iran’s Trade Promotion Organization (TPO) Head Hamid Zadboum and Uzbekistan’s deputy minister of investment and foreign trade, the two sides discussed the ways for strengthening their bilateral trade, TPO portal reported on Tuesday.

TEDPIX surpasses record high of 340,000 points

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 4,813 points to stand at 340,605 on Tuesday, Mehr news agency reported.

ISIPO to revive 1400 idle production units by March 2020

TEHRAN – Iran Small Industries and Industrial Parks Organization (ISIPO) plans to revive 1400 idle production units by the end of the current Iranian calendar year (March 19, 2020), IRNA reported on Monday, quoting a deputy with ISIPO.

‘Iranian electricity industry expanding presence in region’

TERHAN – Iranian Energy Minister Reza Ardakanian said the country’s power industry is expanding its activities in the region’s markets, the portal of the Energy Ministry (Paven) reported.

Iran exports $27b of non-oil products in 8 months

TEHRAN- Iran exported $27 billion of non-oil commodities during the eight-month period from March 21 to November 23, IRIB reported on Tuesday citing the data released by Islamic Republic of Iran Customs Administration (IRICA).

Iran, Oman ink agreement to broaden maritime co-op

TEHRAN – Iran, and Oman signed a maritime cooperation agreement on Sunday aiming for boosting maritime transportation between the two countries, the portal of Iran’s Ports and Maritime Organization (PMO) reported.

Iran expects to sell 1m bpd of oil at $50 next year

TEHRAN – Head of Iran’s Planning and Budget Organization (PBO) said the oil revenues in budget bill for the next Iranian calendar year (starts on March 20, 2020) are estimated on the expectations of selling one million barrels per day (bpd) of oil at an average price of $50, ISNA reported.

Iran’s gas industry to be fully indigenized within 5 years

TEHRAN - Head of National Iranian Gas Company (NIGC) said his company is seriously pursuing a plan for indigenizing all the technology and equipment needed in the country’s gas industry within the next five years, IRIB reported on Monday.

FDI in Iran rises 20% in 7 months on year

TEHRAN- Foreign direct investment (FDI) in Iran has risen 20 percent during the first seven months of the current Iranian calendar year (March 21-October 22) from the same period of time in the past year, Iranian Finance and Economic Affairs Minister Farhad Dejpasand announced on Monday.