Heavy rainfalls boost Iranian hydropower output by 5GW

TEHRAN – Recent heavy rainfalls in Iran has increased the electricity output of the country’s hydropower plants by up to 5,000 megawatts, IRNA reported on Monday quoting an official with Iran’s Power Generation and Distribution Company (known as TAVANIR).

‘Over $85b of working capital required to stay productive’

TEHRAN - Iranian industry, mining and trade minister said the country needs 3.6 quadrillion rials (about $85.714 billion) of working capital in order to sustain the domestic production.

Iran appointed board member of WFC

TEHRAN- Central Securities Depository of Iran (CSDI) has been appointed as a board member of the World Forum of Central Securities Depositories (WFC), the company’s official website published.

Iranian new year’s 1st round of condensate offering due this week

TEHRAN - The National Iranian Oil Company (NIOC) is due to launch this year’s first round of gas condensate offering at the international ring of Iran Energy Exchange (IRENEX) on Tuesday.

Annual unemployment rate at 12%: statistical center

TEHRAN- According to the latest report of the Statistical Center of Iran (SCI), unemployment rate stood at 12 percent in the past Iranian calendar year 1397 which ended on March 20, 2019, IRIB reported on Sunday.

Copper cathode, anode output beats forecast

TEHRAN- Production of copper cathode and anode in Iran exceeded the planned amount in the past Iranian calendar year 1397 (ended on March 20, 2019), IRNA reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Over $857m worth of commodities traded at IME in 2nd week of April

TEHRAN- During weekdays ending up to April 11, while 698,399 million tons (MT) of commodities worth over $857 million were traded at Iran Mercantile Exchange (IME), the trading volume and value experienced growth of 577 percent and 479 percent, respectively.

Tehran to host intl. hoteling exhibition in late April

TEHRAN – The 2nd international specialized exhibition of hoteling, managing, training, equipment and consumable items (Hotel Expo 2019) is due to be held at Tehran’s Shahr-e-Aftab International Exhibition Center during April 24-26.

Exports from Bushehr rise 24% in a year

TEHRAN- Exports from Iran’s southwestern port province of Bushehr rose 24 percent during the past Iranian calendar year (ended on March 20, 2019), according to the director general of the province’s customs administration.

India ships in 5% more oil from Iran in late 2018 up to March 2019

TEHRAN- Indian refiners’ shipment of Iranian crude oil increased by near five percent through March, Reuters reported citing tanker data obtained from shipping and industry sources.

Iranian oil exports rise to pre-sanctions level: Platts

TEHRAN- Oil exports from Iran have increased significantly in March to once again reach to near pre-sanctions level, S&P Global Platts reported citing shipping and provisional tanker tracking data.

Iranian heavy crude oil price rises $2.78 per barrel in March.: OPEC

TEHRAN- Iranian heavy oil price increased $2.78 in March, according to OPEC’s latest monthly report published on Tuesday.

Mousavi appointed new head of OIETAI

TEHRAN- Seyed Ali-Mohammad Mousavi was appointed as the new head of Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), Shada news agency reported.

By Mahnaz Abdi

A year with positive performance for Iranian exchange markets

Based on the already released reports and data, Iran’s exchange markets witnessed fruitful performances and results in the past Iranian calendar year 1397 (ended on March 20, 2019).

By Ebrahim Fallahi

Worries over global economy outweighs geopolitical factors in setting oil prices

TEHRAN – The upward trend of the oil prices in the market hit a stop point on Tuesday when the International Monetary Fund (IMF), once again, poured cold water on the hopes of oil traders who were getting optimistic about global demand this year.

Japan seeking extension of sanctions waiver to keep buying Iranian oil

TEHRAN – Japan is seeking to convince the U.S. government to extend the waivers on Iran oil sanctions, S&P global Platts reported quoting a Japanese government official as saying on Wednesday.

S. Korea in talks with U.S. to extend waiver for Iranian oil imports

TEHRAN - South Korea is still negotiating with the United States for extending the sanctions waiver on Iranian oil imports, Yonhap reported quoting a Korean government official as saying on Tuesday.

Annual investment in water, electricity industries tops $3.8b

TEHRAN – Iranian energy minister said the investment in the country’s power and water sectors reached over 162.6 trillion rials (over $3.87 billion) in the last Iranian calendar year of 1397 (ended on March 20, 2019), IRNA reported. 

IFX touches a new record high in past Iranian year

TEHRAN- IFX, the main index of Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), touched a new record high in the past Iranian calendar year 1397 (ended on March 20, 2019).

Trade offices to be opened in Iraq, Lebanon, Syria, Turkey

TEHRAN – Iran is going to open business offices in some of the strategic countries in the region including Iraq, Syria, Turkey and Lebanon, IRNA reported on Tuesday quoting the minister of industry, mine and trade.

'U.S. move against IRGC indicates its failure in anti-Iran economic measures'

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati underlined that the U.S. designation of the Islamic Revolution Guards Corps (IRGC) as a ‘terrorist organization’ shows its failure in anti-Iran economic pressures and policies.

Iran’s annual oil revenues exceed $65.8b: CBI

TEHRAN – According to the Central Bank of Iran (CBI)’s latest data, Iran’s revenues from crude oil and oil products exports in the Iranian calendar year of 1396 (March 2017 - March 2018) stood at $65.818 billion.

Iran, Iraq ink MOU on establishment of joint commodity exchange

TEHRAN- Based on an MOU signed between Iran and Iraq, the two neighbors agreed on establishment of a joint commodity exchange, IRNA reported.

IRENEX to hold 8th round of crude oil offering today

TEHRAN- National Iranian Oil Company (NIOC) will offer one million barrels of crude oil at the base price of $63.36 at Iran Energy Exchange (IRENEX) for the eighth time today, ISNA reported.

Industrial, mineral exports rise 8% in 11 months on year

TEHRAN- The value of Iran’s industrial and mineral exports during the eleven-month period from March 21, 2018 to February 19, 2019 rose eight percent compared to the figure of the same time span in the previous year, according to an official at Trade Promotion Organization (TPO).

By Ebrahim Fallahi

Tehran, Baghdad stress developing trade ties in business forum

TEHRAN – Following the visit of a high-ranking Iraqi delegation to Tehran, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted an Iran-Iraq business forum on Sunday.

Iranian, Iraqi ministers confer about energy, economy co-op

During the two-day stay of an Iraqi high-ranking delegation in Iran, the Iraqi ministers met their Iranian counterparts to discuss different areas of cooperation between the two neighbors.

Gasoline consumption in Norouz holidays hits 2b liters

TEHRAN – Iran’s gasoline consumption during the peak demand of the Norouz (Persian New Year) holidays (March 17 – April 5) reached near two billion liters, Tasnim news agency Reported.

‘Iran to unveil production flourishing, budget reform plans in coming days’

TEHRAN - Head of Iran’s Planning and Budget Organization Mohammad Bagher Nobakht announced about unveiling a production and employment flourishing plan as well as a plan for reforming the budget structure in the coming days.

Annual exports of sweets, chocolates can hit $1b: official

TEHRAN- The annual exports of sweets and chocolates from Iran can reach $1 billion, the secretary of Sweets, Chocolates and Grain Products Desk at Iran’s Trade Promotion Organization (TPO), asserted.