Industry Ministry allows unlimited exports of face masks, uniforms, serology kits

TEHRAN - Acting head of Iran’s Industry, Mining, and Trade Ministry announced the issuance of license for unlimited exports of face masks, nursing uniforms and COVID-19 serology test kits, Shata news reported on Wednesday.

‘CBI’s access to its foreign resources improving’

TEHRAN – Governor of Central Bank of Iran (CBI) says the bank’s access to its financial resources abroad is improving, IRNA reported on Wednesday.

Iran-Germany trade expected to improve in 2020

TEHRAN - Iran-Germany Joint Chamber of Commerce predicts that trade between the two countries is going to increase by up to 15 percent in the current year following the establishment of appropriate infrastructure by Iran's financial institutions, IRNA reported.

Major issues discussed in meeting of economic coordination headquarters

TEHRAN – Headed by President Hassan Rouhani, the government economic coordination headquarters, in its 135th meeting, discussed some of the country’s most important economic issues on Tuesday, IRIB reported.

Iran’s export of goods with preferential tariffs to EAEU increases 85%

TEHRAN- Export of the commodities subjected to preferential tariffs from Iran to the Eurasian Economic Union (EAEU) member states has risen 85 percent since the implementation of a free trade agreement between the two sides (October 2019), head of Iran’s Trade Promotion Organization (TPO) announced.

Iran needs over $238b for realizing ‘Surge in Production’: fin min

TEHRAN – Iranian Finance and Economic Affairs Minister Farhad Dejpasand said the country needs at least 10 quadrillion rials (nearly $238.1 billion) to realize the motto of “Surge in Production”, Tasnim news agency reported on Tuesday.

Non-oil export growth vital for surge in production

TEHRAN – Iran’s First Vice-President Es'haq Jahangiri has called for developing non-oil exports as the only way for realizing the motto of surge in production, IRNA reported.

Iran-Syria trade seen to reach $1b by March 2021

TEHRAN - Head of Iran-Syria Joint Chamber of Commerce Keyvan Kashefi believes that the value of Iran's trade with Syria will reach $1 billion by the next Iranian calendar year 1400 (starts on March 21, 2021).

Iran ready to conduct mineral exploration projects in regional countries

TEHRAN – Deputy head of Geological Survey and Mineral Explorations of Iran (GSI) says the organization is ready to carry out exploration projects for the countries in the region, IRNA reported on Monday.

NIOPDC to build 50,000-ton wharf in Chabahar port

TEHRAN - National Iranian Oil Products Distribution Company (NIOPDC) has ordered a 50,000-ton wharf to be constructed for the company at the southeastern Chabahar port, Shana reported on Monday.

‘Supporting domestic production is priority of banking system’

TEHRAN – Governor of Central Bank of Iran (CBI) says promoting domestic production is the main priority of the country’s banking system in the current Iranian calendar year (started on March 19), the bank’s portal reported.

Export Guarantee Fund of Iran increases capital by $200m

TEHRAN - Export Guarantee Fund of Iran (EGFI) has increased its capital by $200 million, IRNA reported on Sunday, quoting the head of the fund. According to Afrouz Bahrami, after the mentioned increase the EGFI’s capital has reached $300 million.

South Pars phases 17, 18 flare gas waste down 50%

TEHRAN –Gas flaring at the Iranian South Pars gas field’s phases 17 and 18 of development has been reduced by 50 percent, according to the managing director of the field’s seventh refinery.

IME’s weekly worth of trades at $619m

TEHRAN- Over 523,000 tons of commodities valued at $619 million were traded at Iran Mercantile Exchange (IME) during the past Iranian calendar week (ended on Friday).

By Salman Parviz

Cloud seeding projects to help erode crude income dependence

Frequent rain to help agricultural, industrial sectors

Lack of rainfall followed by frequent droughts is nothing new in Iran. Meteorologists claim that the country has faced an annual lack of rain by 50mm over the past five decades. However, in the recent past, we have witnessed higher than average rainfalls. Remember the sound of thunder last week? Whether these are just wet spells or have been caused by another phenomenon, needs some scrutiny.

By Mahnaz Abdi

ETFs to speed up privatization, support ordinary investors

On May 2, the Tehran Stock Exchange (TSE), which is the main stock exchange of Iran, listed the first exchange-traded fund (ETF) from a series of three ETFs, through them shares of some state-owned organizations and companies are planned to be offered.

By Mahnaz Abdi

TEDPIX notches record high, hitting one million points

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), hit the record high of one million points on Saturday.

RIPI to conduct 4 major research projects by March 2021

TEHRAN - Iran’s Research Institute of Petroleum Industry (RIPI) is due to carry out four major research projects aimed at increasing the recovery factor of the country’s oil fields by the end of the current Iranian calendar year (March 21, 2021), Shana reported quoting the head of RIPI’s upstream faculty.

Gasoline storage capacity up 120m liters

TEHRAN - Deputy director of operations at Iranian Oil Pipelines and Telecommunications Company (IOPTC) says using the company's storages has increased the country's gasoline storage capacity by 120 million liters, IRNA reported on Saturday.

470m tons of minerals extracted in a year

TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani said 470 million tons of minerals have been extracted in the country during the past Iranian calendar year (ended on March 19), IRNA reported.

IRENEX hosts 5 offerings of gas condensate, fuel oil in 50 days

TEHRAN- Since the start of the current Iranian calendar year (March 20), Iran Energy Exchange (IRENEX) has held two offerings of gas condensate and three offerings of Mazut (fuel oil) at its international ring, National Iranian Oil Company (NIOC)’s representative in IRENEX announced.

Copper projects worth over $950m inaugurated

TEHRAN- Four development projects worth 40 trillion rials (about $952.3 million) were inaugurated in the copper sector of Kerman Province in the southeast of Iran on Thursday, Shata news reported.

No power outage due to earthquake: Tavanir

TEHRAN- Now electricity outage due to the last night earthquake has been reported in the country, an official with Iran’s Power Generation and Distribution Company (known as Tavanir) announced on Friday.

NIDC indigenizes know-how for manufacturing 6000 drilling equipment

TEHRAN - National Iranian Drilling Company (NIDC) indigenized the knowledge for manufacturing 6,000 drilling equipment in collaboration with domestic manufacturers and engineers in the previous Iranian calendar year (ended on March 19), the head of NIDC's Technology and Engineering Department said.

IMIDRO to inaugurate projects worth over $2.2b by next March

TEHRAN - Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) plans to put projects worth $2.276 billion into operation during the current Iranian calendar year (ends on March 20, 2021), according to the head of the organization, IRNA reported.

Iran’s electricity consumption up 5%

TEHRAN – Electricity consumption in Iran since the beginning of the current Iranian calendar year (March 20) up to May 6 has increased by five percent compared to the same period last year, IRIB reported on Wednesday, quoting an official with Iran’s Power Generation and Distribution Company (known as TAVANIR).

Shares of CSPO’s 20 companies to be offered at stock exchange

TEHRAN- Shares of 20 companies affiliated to Iran’s Civil Servants Pension Organization (CSPO) will be offered at the country’s stock exchange by the end of the current Iranian calendar year (March 20, 2021), head of the organization announced on Wednesday.

Nearly $2b is required for domestic manufacturing of auto parts

TEHRAN- Iran’s auto parts manufacturers need nearly $2 billion to manufacture the auto parts required for making 1.2 million vehicles in the country during the current Iranian calendar year (ends on March 2021), Iranian Auto Parts Makers Association’s Secretary Maziar Beyglou announced.

TEDPIX drops 742 points on Tuesday

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), which is the country’s major stock exchange, fell 742 points to 978,362 on Tuesday, IRNA reported.

Iran’s annual trade with Arab partners at $22b

TEHRAN – The value of Iran’s trade with its Arab trade partners in the region stood at about $22 billion in the previous Iranian calendar year 1398 (ended on March 19), Farzad Piltan, the director-general of Iran's Trade Promotion Organization (TPO)’s Office of Arabian and African Countries, said.