TCCIMA provides suggestions for amending budget bill

TEHRAN – Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Masoud Khansari on Tuesday outlined the chamber’s suggested changes for amending the country’s budget bill.

‘3000MW added to Iran’s power generation capacity since March’

TEHRAN – Some 3000 megawatts (MW) capacity of new power plants have been added to the country’s electricity network in the current Iranian calendar year (started on March 21) to supply the demands in the summer peak period, IRNA reported on Tuesday quoting an official with the energy ministry.

Iran to export $5b of gas, electricity to Iraq by March 2020

TEHRAN – The value of Iran’s gas and electricity exports to Iraq are expected to reach $5 billion by the end of the current Iranian calendar year (March 21, 2020), Meh news agency quoted an official with the Iran-Iraq Joint Chamber of Commerce as saying.

‘Iran, Armenia mull over trade with national currencies’

TEHRAN - The head of Iran-Armenia Joint Chamber of Commerce said the two countries are discussing the possibility of trade with their national currencies, IRNA reported.

148 new items added to imports blacklist

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani said that the imports of 148 new commodities has been banned by the ministry to rise the number of such items to 1487, IRIB reported on Tuesday.

Boosting trade with neighbors discussed in an ICCIMA meeting

TEHRAN- During a meeting between deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) for international affairs with the vice chairmen of provincial chambers for international affairs, the ways for boosting trade with the neighboring countries were discussed.

CBI manages to stabilize foreign currency market: report

TEHRAN – The value of Iranian rial is recovering against the U.S. dollar as the Central Bank of Iran (CBI) policies for shielding the currency against the U.S. sanctions are taking effect.

‘Annual olive production expected to rise to 120,000 tons by March 2020’

TEHRAN- Annual production of olive in Iran is expected to rise by more than a third to reach 120,000 tons in the current Iranian calendar year (ends on March 19, 2020), an official from Iran’s ministry of agriculture said on Sunday.

Rouhani inaugurates development projects worth over $1b

TEHRAN - President Hassan Rouhani put 132 major development projects worth 14.79 trillion rials (about $352.14 million) plus €594 million (nearly $670 million) into operation in North Khorasan province, northeast of Iran, on Monday, IRNA reported.

By Mahnaz Abdi

IME strengthening link between agricultural, financial markets

TEHRAN- Expanding the links between financial markets and commodity markets and strengthening the existing links between these markets is an approach Iran’s capital market has taken in recent years which has resulted in significant achievements in both commodity and exchange transactions in the country.

Iran to cooperate with Jordan in rail industry

TEHRAN – Islamic Republic of Iran Railways (known as RAI) is going to cooperate with Jordan Railway Corporation (JRC) for developing railway infrastructure in the country and providing technical-engineering services as well as manufacturing fleet wagons, Mehr news agency reported on Sunday.

TPO to dispatch trade delegation to Germany in mid-Oct.

TEHRAN- Iran’s Trade Promotion Organization (TPO) plans to dispatch a trade and marketing delegation to Germany in mid-October, the portal of the organization announced.

S. Korea struggling to replace Iranian oil: report

TEHRAN - South Korea’s crude oil imports have fallen 12.6 percent in June to 11.49 million tons, an indication that the country is having problems replacing its oil imports from Iran.

Iran considering tea trade with Sri Lanka in return for oil dues

TEHRAN – Iran is expected to sign a deal with Sri Lanka to receive the country’s famed tea over the next two years in exchange for the settlement of loans obtained for the purchase of oil, Sunday Times reported.

Budget bill amendments approved

TEHRAN – The Iranian government approved on Saturday the amendments on the national Iranian budget plan for the current Iranian calendar year (started on March 21), ILNA reported.

‘CBI to take all necessary measures to support private sector’

TEHRAN – Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati said the bank won’t spare any effort in order to overcome the barriers in the way of the private sector’s trade, IRNA reported.

By Ebrahim Fallahi

Iran’s ‘oil for execution’ plan: old ideas in a new wrapping

TEHRAN – This week Iranian Oil Ministry is going to officially start a new plan that is aimed to be a new way for selling oil and tackling the pressures imposed by U.S. sanctions on the country’s oil industry.

Boosting railway network efficiency on agenda: RAI head

TEHRAN- Boosting efficiency of national railway network is a top agenda of Islamic Republic of Iran Railways (known as RAI)’s activities in the current Iranian calendar year (began on March 21), RAI Head Saeed Rasouli stated.

Remaining platforms of SP phase 14 to start operation by end of autumn

TEHRAN- Two remaining platforms of Iran’s South Pars gas field’s phase 14 of development will be put into operation by the end of autumn, according to Mohammad-Mehdi Tavasolipour, the operator of phase 14.

First exhibit of domestic production opportunities to host 210 exhibitors

TEHRAN- Iran’s first exhibition of domestic production opportunities and manufacturing boom, which will run at Tehran from July 18 to 21, will host 210 companies and unions as exhibitors, deputy head of Iran’s Industrial Development and Renovation Organization (IDRO) told Shata on Sunday.

NIOC to offer 2m barrels of condensate at IRENEX in 8th round

TEHRAN- National Iranian Oil Company (NIOC) will offer two million barrels of gas condensate at Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.

‘Iran’s foreign trade not determined by INSTEX’

TEHRAN – The acting head of Iran’s Trade Promotion Organization (TPO) said Europe’s Instrument in Support of Trade Exchanges (INSTEX) is only a channel for trade with Europe and technically it is not determining the country’s foreign trade, Tasnim news agency reported on Saturday.

Iran indigenizes monitoring systems in gas transmission

TEHRAN – Head of National Iranian Gas Transmission Company (NIGTC) announced that Iranian experts have achieved the know-how for producing vibration monitoring and protection systems for gas transmission lines.

Over $452m worth of commodities traded at IME in a week

TEHRAN- During weekdays ending up to July 11, approximately, 402,145 million tons (MT) of commodities worth over $452 million were traded at Iran Mercantile Exchange (IME).

Iraq seeks participation of Iranian companies in energy projects

TEHRAN – Iran’s Energy Industries Engineering and Design Company (EIED) hosted a meeting on Friday in which a delegation comprised of representatives of Iraq’s chambers of commerce discussed collaboration of Iranian companies in Iraq’s oil and gas projects with the Iranian side.

Third platform of South Pars phase 14 installed on offshore spot

TEHRAN- Platform 14B of Iran’s South Pars gas field (in the Persian Gulf) was installed on its designated offshore spot on Saturday, Public Relations Department of Pars Oil and Gas Company, which is in charge of developing the gas field, announced.

‘Banking, transportation are main challenges in Iran-Malaysia trade’

TEHRAN - Malaysian Ambassador to Iran Datuk Rustam Yahaya said banking relations and transportation are the main challenges facing Iran and Malaysia in the way of boosting economic relations, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported.

‘Neighboring countries willing to expand economic ties with Iran’

TEHRAN- Saying that Iran’s neighboring countries are eager for the expansion of economic and trade ties with the Islamic Republic, Iranian deputy minister of industry, mining and trade put emphasis on the necessity of boosting ties with the neighbors.

Iran exports €25m of pistachio to EU countries in 4 months

TEHRAN- According to the data released by European Union’s statistics agency Eurostat, the union’s member states have imported €25.4 million of pistachio from Iran during the first four months of 2019.

Iran, Brazil seeking barter trade in face of U.S. sanctions

TEHRAN –Secretary of Iran-Brazil Chamber of Commerce said the two countries are seeking to establish bartering systems in order to keep their trade afloat during the sanctions era, ILNA reported.