700 rooftop PV stations to be installed in Southeast Iran

TEHRAN – Imam Khomeini Relief Foundation has founded the construction of 700 rooftop photovoltaic power stations (known as PV systems) in Kerman Province (southeast Iran) of which 520 are ready for use, Mehr news agency reported on Wednesday quoting an official.

Iran Oil Show 2019 hosting 106 foreign exhibitors

TEHRAN- The 24th Iran International, Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2019), which kicked off at Tehran Permanent International Fairgrounds on Wednesday, is hosting 106 foreign exhibitors from 21 countries, Shana reported.

By Mahnaz Abdi

NIOC selling oil at IRENEX while U.S. tightening sanctions

National Iranian Oil Company sold 70,000 barrels of heavy crude oil at Iran Energy Exchange (IRENEX) for the first time on Tuesday.

By: Ebrahim Fallahi

Iranian, Syrian private sectors seek to bolster trade ties

TEHRAN – Iranian and Syrian officials, entrepreneurs and businessmen once again came together on Wednesday in a business forum in Tehran to explore ways for enhancing trade ties.

‘Absence of gas supplies from Iran could shut down half of Iraq’s power plants’

TEHRAN – Without Iranian gas supplies half of Iraq’s natural gas power plants will close down in the summer, IRNA quoted a member of the trade committee of Iraqi parliament as saying on Tuesday.

U.S. sanctions on Iran would hurt India’s economy: Indian envoy

TEHRAN - The Indian ambassador to the United States said on Tuesday U.S. sanctions on Iran could boost oil prices and inflation to a point that hurts the common people in India.

Over $857m of loans to be offered to industrial units

TEHRAN- Iranian deputy industry minister said that 360 trillion rials (about $857.1 million) of facilities will be granted to the industrial units in the current Iranian calendar year (started on March 21) in the framework of production flourishing plan, IRNA reported.

Bank loans to economic sectors rises 26% in a year

TEHRAN- Iranian banking system’s offered facilities to domestic economic sectors during the past Iranian calendar year (ended on March 20, 2019), increased by 26 percent from its previous year, IRIB reported.

Crude steel production rises 7.1% in Q1

TEHRAN- Production of crude steel in Iran rose 7.1 percent during the first quarter of 2019 compared to the same period of time in 2018, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced citing a recent report by the World Steel Organization (WSO).

Up to 1GW of new power plants to come on stream

TEHRAN – Up to 1000 megawatts capacity of new power plants are going to be added to the country’s electricity network to supply the demands in the summer peak period, IRNA reported on Tuesday quoting a deputy at Iran’s Power Generation and Distribution Company (known as TAVANIR).

Isfahan to host intl. stone exhibition from today

TEHRAN - The 15th International Exhibition of Stones, Quarries and Related Industries is scheduled to be opened today in Isfahan, central Iran.

Petrochemical plant project to start on Thursday

TEHRAN – The construction project of a new petrochemical complex is going to be commenced on Thursday in Sonqor County, in the western Iranian province of Kermanshah, Mehr news agency reported quoting an official as saying.

India insisting on oil imports from Iran

TEHRAN – India’s External Affairs Minister said that India should be allowed to continue importing oil from Iran at least for a longer time span, Hindustan Times reported citing people familiar with developments.

INSTEX chief briefs British businesses on mechanism progress

TEHRAN - President of Europe's special purpose mechanism for trade with Iran, known as Instrument for Support of Trade Exchanges (INSTEX), discussed the progress of the mechanism in a meeting with British officials, manufactures and heads of businesses in London, IRNA reported.

NIMA supplies €1.84b for imports of goods, services

TEHRAN- Iran’s domestic Forex Management Integrated System (locally known as NIMA) has supplied €1.840 billion for imports of goods and services since the beginning of the current Iranian calendar year (March 21) up to Sunday, IRNA reported.

‘Progress in equipment production projects at 60%’

TEHRAN - Director General of Machinery Manufacturing and Equipment Office at Iran's Ministry of Industry, Mining and Trade said several equipment production projects were launched last year, their total progress of which has exceeded 60 percent.

Annual aluminum ingot production exceeds 276,000 tons

TEHRAN- Iran produced 276,575 tons of aluminum ingots in the past Iranian calendar year (ended on March 20, 2019), IRNA reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization.

A year with 6,447 more exporters

TEHRAN- The number of Iran’s exporters rose 6,447 in the past Iranian calendar year (ended on March 20, 2019), the acting head of Trade Promotion Organization (TPO) announced on Monday.

‘No country can replace Iran in oil market’

TEHRAN- No country can replace Iran in the global oil market, Iranian Deputy Oil Minister Amir-Hossein Zamaninia stressed.

Iran, Turkey ink MOU on transportation co-op

TEHRAN – Iran and Turkey signed a memorandum of understanding for expanding transportation cooperation, IRIB reported.

Iranian official warns of oil going above $100

TEHRAN - Chairman of Majlis (Parliament) Energy Commission, Fereydoun Hasanvand warned that oil prices are going to surge above $100 per barrel following the U.S. decision to end the waivers.

‘CBI planning for sustainable inflation management’

TEHRAN - Central Bank of Iran (CBI) Governor Abdolnaser Hemmati said that by controlling the short-term interest rates and infusing changes in the country’s monetary policy, the bank is planning to manage inflation in the long-run, IRNA reported on Sunday.

IME accounts for 39% of Iran’s capital market trades in a year

TEHRAN- Trades conducted at Iran Mercantile Exchange (IME) accounted for 39 percent of the value of the total trades in the Iranian capital market during the past Iranian calendar year (ended on March 20, 2019), according to the managing director of IME.

EGFI to issue bank guarantees for IRENEX oil buyers

TEHRAN - Export Guarantee Fund of Iran (EGFI) is going to issue bank guarantees for the customers who purchase the oil offered at Iran Energy Exchange (IRENEX), Mehr news agency reported on Sunday quoting EGFI managing director.

Iran’s crude steel production capacity to rise 25m tons in 4 years

TEHRAN- Iran’s crude steel production capacity will increase by 25 million tons within the next four years, according to a deputy director in Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

By: Ebrahim Fallahi

Iran’s winning cards in facing U.S. sanctions

Surrounded by fifteen neighboring countries through land and sea, Iran enjoys a very strategic geopolitical and economic position in the Middle East

‘U.S. sanctions won’t affect Iran’s petchem exports’

TEHRAN - General Secretary of Iran's Association of Petrochemical Industry Corporation (APIC) said on Saturday that U.S. sanctions are not going to have any significant impact on Iran’s petrochemical exports.

Over $547m worth of commodities traded at IME in a week

TEHRAN- During weekdays ending up to April 25, approximately, 351,034 million tons (MT) of commodities worth over $547.6 million were traded on Iran Mercantile Exchange (IME).

Iran Fara Bourse’s index rises 8%

TEHRAN- IFX, the main index of Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), has risen eight percent since the beginning of current Iranian calendar year (March 21, 2019), IRNA reported.

ICCIMA to host Iran-Syria business forum on Wednesday

TEHRAN – Iran and Syria will continue exploring mutual trade opportunities in a business forum due to be held on Wednesday at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), IRIB reported.