Turkey proposes setting up joint bank with Iran

TEHRAN – Turkey has proposed establishing a joint bank with Iran for facilitating trade between the two countries, IRNA reported citing an article published in the Turkish newspaper “Dünya”.

5-month steel ingot output up 15% on year

TEHRAN- Iran’s nine major steel companies produced over 7.85 million tons of steel ingots during the first five months of the current Iranian calendar year (March 21-July 21), up 15 percent from last year’s same period.

Over $2.6b of mining projects operational by March 2019

TEHRAN – Some 110 trillion rials (nearly $2.6 billion) worth of mining projects are scheduled to be inaugurated by the end of the current Iranian calendar year (March 20, 2019).

U.S. cannot zero out Iranian oil export: OPEC governor

TEHRAN - Iran’s OPEC governor Hossein Kazempour Ardebili has said the country’s rival producers cannot make up for the shortfall resulted from a complete halt in Iranian oil exports, Reuters reported on Friday.

Supertankers loaded with Iranian crude headed for China: data

TEHRAN - Two supertankers loaded with crude oil left Iran’s biggest export terminal for China on Wednesday, Bloomberg reported citing ship-tracking data.

U.S. may waive sanctions for Indian-built Iranian port linking to Afghanistan

The U.S. is reportedly considering granting a waiver to the Iranian port of Chabahar that would permit trade there despite the return of U.S. sanctions against trading with Iran.

OPEC puts Iran’s Aug. oil output at 3.584m bpd

TEHRAN- Iran produced 3.584 million barrels per day (bpd) of oil in August, a 150,000 bpd decrease from 3.734 million bpd in July, according to OPEC’s latest monthly report published on September 12 citing secondary sources.

Tax revenues exceed $8.5b in 4 months

TEHRAN - The Iranian National Tax Administration (INTA) collected 360 trillion rials (about $8.57 billion) in tax during the first four months of the current Iranian year (March 21-July 22, 2018).

Petchem companies inject $4b to secondary forex market

TEHRAN- Since the beginning of the present Iranian calendar year (March 21, 2018), petrochemical companies have entered $4 billion of foreign currency to the country, general Secretory of Iran's Association of Petrochemical Industry Corporation (APIC) told IRIB on Wednesday.

Russia opposes U.S. sanctions on Iranian oil industry

TEHRAN – Russian Energy Minister Alexander Novak voiced concern over the impact of U.S. sanctions against Iran, Reuters reported.

U.S. dollar just few short years away from losing global dominance, investor Jim Rogers tells RT

The United States is the largest debtor nation in the world and “it’s getting worse and worse,” according to investment guru Jim Rogers, who talked to RT on the sidelines of the Eastern Economic Forum (EEF) in Vladivostok.

Iran’s 4-month oil revenue up over 60% yr/yr

TEHRAN – Iran’s revenues from crude oil and oil products exports reached 419 trillion rials (about $9.98 billion) in the first four months of the current Iranian calendar year (March 21-July 22, 2018) up 60.7 percent compared to its preceding year’s same period.

New trading codes issuance up 45% since March

TEHRAN- The number of trading codes issued in Tehran Stock Exchange (TSE) has increased 45 percent since the beginning of current Iranian calendar year (March 21) compared to the same period of time in the previous year, TSE spokesman Hamid Rouhbakhsh told IRIB on Monday.

Water, power projects worth $5.7b offered to private sector

TEHRAN- Some 46 power and water projects at the value of 243 trillion rials (about $5.7 billion) were offered to the private sector during a ceremony attended by Iranian Vice President Es’haq Jahangiri on Tuesday.

‘No need for wheat import by next year’

TEHRAN- Iran has been self-reliance in wheat production over the past three years and there is also no need for importing the grain by the next year, Kaveh Zargaran, the chairman of the Agricultural Committee at the Tehran Chamber of Commerce Industries, Mines and Agriculture (TCCIMA), announced.

Winners of 2nd ‘League of Stock Market Stars’ announced

TEHRAN- The top teams in the second ‘League of Stock Market Stars’ of Iran were announced in a ceremony on Sunday, IRIB reported.

Iran, Mongolia discuss expansion of trade ties

TEHRAN – Mojtaba Khosrotaj, the head of Iran’s Trade Promotion Organization (TPO), met with Mongolian Deputy Foreign Minister Battsetseg Batmunkh in Tehran on Sunday to discuss ways of expanding trade ties, the portal of TPO reported.

A new record registered for TEDPIX

TEHRAN- Gaining 2,605 points to stand at 142,234 points, Tehran Stock Exchange (TSE)’s main index (TEDPIX) registered a new record on Sunday, IRNA reported.

India seeking to double bilateral trade with Iran within 5 years

TEHRAN - Indian Commerce and Industry Minister Suresh Prabhu has proposed on Friday to double bilateral trade with Iran in the next five years, Economic Times reported quoting an official.

‘Iran won’t refund Total’s investment in South Pars project until it’s operational’

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Iran will refund French oil and gas major Total’s investments in the phase 11 of South Pars gas field but not until the project becomes operational, Shana reported on Saturday.

Iran to set up pavilion in Oman Health Exhibition in late Sept.

TEHRAN- Iran will set up a pavilion in the 8th Oman Health Exhibition which will take place in New Oman Convention & Exhibition Center in Muscat from September 24 to 26, Trade Promotion Organization (TPO) of Iran announced.

Pakistan determined to boost Iranian economic ties

TEHRAN- Federal Minister for Finance, Revenue, and Economic Affairs of Pakistan Asad Umar announced his country’s firm decision to develop economic ties with Iran, IRNA reported on Saturday.

Iran joins hand with Russia, Turkey to dump dollar in trade

TEHRAN – Iran has discussed trade in national currencies with Russia and Turkey in order to reduce the impact of U.S. dollar on the three countries’ trade and economies, ILNA reported on Saturday quoting Central bank of Iran (CBI) Governor Abdolnaser Hemmati.

Japan chamber of commerce prepared to expand trade ties with Iran

TEHRAN- Japan Chamber of Commerce and Industry (JCCI) is ready to develop economic and trade ties with Iran, according to its chairman, Akio Mimura.

Iran an influential member of IMO: secretary general

TEHRAN- Iran is one of the most influential members of the International Maritime Organization(IMO) and is always supporting this organizations’ activities, IMO Secretary General Kitack Lim said on Saturday.

South Pars platform 14C installed on offshore spot

TEHRAN-Platform 14C of Iran’s South Pars gas field (in the Persian Gulf), which had been loaded at Sadra industrial yard in the southwestern province of Bushehr on September 1, was installed on its designated offshore spot on Wednesday, Shana reported.

68,000 production units active in Iran

TEHRAN- Iranian Deputy Industry Minister Mohsen Salehinia said that there are about 80,000 production units in the country, of which 68,000 units are active, IRNA reported.

Iran, India push for expanding bilateral co-op in ports, transport

TEHRAN – In a meeting on Thursday, Iranian Transport and Urban Development Minister Abbas Akhoundi and Indian Road Transport and Highways Minister Nitin Gadkari stressed the need for further expansion of mutual cooperation.

By Ebrahim Fallahi

Petrochemical industry, a pillar for Iran’s resilient economy

Inaugurating three major petrochemical projects in Assaluyeh petrochemical zone in southwestern Iran was the headline of almost all Iranian energy related and economic news agencies across the country on Monday.

‘Govt. ready to brief MPs about new economic strategies’

TEHRAN- “Government has prepared five new packages and 12 programs to tackle the current economic conditions and is ready to brief the parliament members about them,” government spokesman Mohammad-Baqer Nobakht announced addressing the parliament on Wednesday, IRNA reported.