Promoting domestic production a ‘must' in the sanctions era: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh says promoting the country’s domestic production in various areas is a key to Iran’s economic development during the sanctions, Shana reported.

Inflation rate seen to fall to 20% next year

TEHRAN- Inflation rate in Iran is predicted to go down to under 20 percent in the coming Iranian calendar year (begins on March 19), Central Bank of Iran (CBI) Governor Abdolnaser Hemmati announced on Tuesday.

TEDPIX, IFX rising more

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 4,062 points to 476,812 on Monday, IRNA reported.

By Mahnaz Abdi

Iran should go big on Halal industry

Halal food has become a lucrative business in the global economy over the recent years and as announced by the World Halal Council (WHC) this industry is globally worth over $2.5 trillion.

‘Over 80% of petchem equipment can be made domestically’

TEHRAN – Head of Iran’s Persian Gulf Petrochemical Industry Company (PGPIC) says domestic companies are capable of manufacturing up to 80 percent of the equipment needed in the country’s petrochemical industry, Tasnim reported on Monday.

Iran Mine House’s policy council holds meeting

TEHRAN – Iran Mine House (IMH)’s policy council, on Sunday, gathered together to discuss issues and problems of the country’s mining sector in the sanctions era, IRNA reported.

‘Private sector able to account for 55% of GDP’

TEHRAN – Iranian private sector has the capacity to account for up to 55 percent of the country’s total gross domestic production (GDP), IRNA reported on Monday, quoting the head of Isfahan Chamber of Commerce, Industries, Mines and Agriculture.

Kish Island hosting expo on promoting domestic production in petchem industry

TEHRAN – Kish Island in southern Iran is hosting a specialized exhibition and conference on promoting domestic production in the petrochemical industry, IRNA reported.

Iran’s gas condensate output up 5% in 10 months

TEHRAN – Managing director of Iran’s South Pars Gas Company (SPGC) said the country’s gas condensate output has increased by five percent in the first 10 months of the current Iranian calendar year (March 21, 2019-January 20, 2020).

RUSI acknowledges FATF being a political tool for U.S.

TEHRAN - The Royal United Services Institute (RUSI), in its latest report, acknowledges that the Financial Action Task Force (FATF) is politically oriented and acts as a leverage for the U.S. government.

TEDPIX notches record high of 472,000 points

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), posted a new record high on Sunday, as the index surpassed 472,000 points, IRNA reported.

158 new vessels to be added to Iran's shipping fleet

TEHRAN – Some 158 new vessels are going to be added to Iran’s shipping fleet, IRIB reported on Sunday, quoting the head of the Industry Ministry’s Supreme Maritime Council.

Industry minister holds talks with ICCIMA board of directors

TEHRAN - Industry, Mining and Trade Minister Reza Rahmani and his deputies met with the board of directors of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) on Saturday at the place of ICCIMA.

Tehran to host exhibition on Iran’s technical, engineering capabilities

TEHRAN - Khatam-al Anbiya Construction Headquarters is going to host a national exhibition to showcase the technical and engineering capabilities of Iranian entities from February 22 to 26, IRNA reported.

‘Offering electricity at IRENEX to stabilize power prices’

TEHRAN – Managing Director of Iran Energy Exchange (IRENEX) says offering electricity at the energy exchange would centralize the country’s electricity trades and consequently balance the prices, IRNA reported.

6m barrels of oil, condensate to be offered at IRENEX this week

TEHRAN - National Iranian Oil Company (NIOC) is going to offer a total of six million barrels of oil and gas condensate at the international ring of the country’s energy exchange (IRENEX) during the current week, Mehr News Agency reported on Sunday, quoting an NIOC official.

Commodities worth $690m traded at IME in a week

TEHRAN- Some 441,821 tons of commodities worth over $690 million were traded at Iran Mercantile Exchange (IME) during the past Iranian calendar week (ended on Friday), IME Public Relations Department reported.

More than 50% of Iranian dams' capacity full

TEHRAN – Iran’s deputy energy minister says currently 54 percent of the capacity of the country’s dams has been filled and the rest is kept for flood management, IRIB reported on Saturday.

Iron ore concentrate output exceeds 39m tons in 10 months

TEHRAN- Production of iron ore concentrate in Iran during the first 10 months of the current Iranian calendar year (March 21, 2019 – January 20, 2020) reached 39.341 million tons, registering a three-percent rise compared to the same period last year, IRIB reported.

TEDPIX, IFX rise on Saturday

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), ended 2,908 points higher at 461,988 on Saturday (the first day of Iranian calendar week), IRNA reported.

Bandar Abbas to hold date exhibition in late Feb.

TEHRAN- Hormozgan Province, in southern Iran, will hold a specialized exhibition on dates and date products in Bandar Abbas, the capital city of the province, from February 24 to 28, Trade Promotion Organization (TPO) published on its website.

Capital market able to meet 50% of oil industry’s investment needs: SEO head

TEHRAN – Head of Iran's Securities and Exchange Organization (SEO) Shapour Mohammadi says the capital market is able to meet more than 50 percent of the oil industry’s funding requirements, IRNA reported.

Over $30b needed for completing semi-finished petchem projects: Zanganeh

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said more than $30 billion is required to complete unfinished petrochemical projects across the country, IRNA reported.

Iranian banks’ foreign assets up over 17%

TEHRAN - The total value of Iranian banks’ foreign assets by December 21, 2019, stood at 10.034 quadrillion rials (about $246.19 billion), registering a 17.3-percent rise compared with the corresponding period of last year.

TEDPIX up over 13,000 points in a week

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), went up 13,185 points, or 2.96 percent, to 459,080 in the past Iranian calendar week (ended on Friday), Tasnim news agency reported.

‘Private sector ready for contribution to petro-refinery projects’

TEHRAN - Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)’s energy committee says the country’s capable private sector is ready for participation in the oil ministry’s refinery and petro-refinery projects, IRNA reported on Friday.

By Ebrahim Fallahi

An oil-free economy: from words to deeds

TEHRAN – As one of the world’s oil-rich countries, Iran, for long, has been deeply relied on oil revenues for its economy and even all the governments which have come and gone since the Islamic Revolution in 1979, have based their economic policies upon oil while other areas remained deprived of the attention.

Foreign debt falls to $9.05b: CBI

TEHRAN – The latest report published by the Central Bank of Iran (CBI) puts the country’s foreign debt at $9.053 billion at the end of the ninth Iranian calendar month of Azar (December 21, 2019), down from $9.339 billion at the end of the last Iranian year.

Iran’s January oil output at 2.086m bpd: OPEC

TEHRAN - Iran produced 2.086 million barrels per day (bpd) of oil in January, a 9,000-bpd decrease from 2.095 million bpd in December 2019, according to OPEC’s latest monthly report published on Wednesday.

Renewable power generation capacity reaches 900 MW

TEHRAN - The capacity of Iran’s renewable power plants has reached 900 megawatts (MW), IRNA quoted Iranian Energy Minister Reza Ardakanian as saying on Thursday.