No subsidy for rice import
Financial Tribune – The government will no longer allocate subsidized foreign currency at the rate of 42,000 rials per US dollar for…
Economy
Iran starts installation of phase 11 jacket
SHANA – Iran’s Petropars Company has officially started operations to install the jacket of South Pars Phase 11 platform in the Persian…
Iran’s steel production declines 2.2% to reach 3.8m tons
Financial Tribune – Iranian steelmakers produced 3.85 million tons of semi-finished and finished steel products in the first month of the current…
Offshore section of South Pars development complete by 2021
SHANA – Iranian Minister of Petroleum Bijan Zangeneh announced completion of the South Pars Offshore Section as well as 17 phases of…
Consumer price inflation reaches 29.8 percent in Iran
Financial Tribune – The Statistical Center of Iran has put urban and rural average annual inflation rates for the month ending May…
Iran’s CB solicits help from moneychangers to restore calm to currency market
Financial Tribune – Fluctuations in forex market in recent months have compelled the Central Bank of Iran to seek help from authorized…
50% rise in cigarette sales tax revenues
Financial Tribune – The government earned 17,023 billion rials ($96.44 million) from tax on cigarette sales in the year ending March 2020.…
Petrol tankers sail from Iran to Venezuela in defiance of US
Financial Times | Gideon Long and Aime Williams: Caracas desperately needs fuel as sanctions worsen economic crisis Five ships laden with Iranian…
Iran’s President calls for national crypto mining strategy
The Cryptocurrency Post – Chairing Iran’s monetary coordination base camp – a course for the national financial technique – not long ago,…
Deputy oil minister named as Iran’s acting OPEC governor – news website
Reuters – Deputy Oil Minister Amir Hossein Zamaninia has been named as Iran’s caretaker OPEC Governor, replacing Hossein Kazempour Ardebili who died…
Tankers carrying Iranian fuel approach the Caribbean: data
Reuters – A flotilla of five tankers carrying Iranian fuel for gasoline-starved Venezuela is approaching the Caribbean, with the first vessel expected…
Producer price inflation at 36.7% in fiscal 2019-20
Financial Tribune – The lowest and highest annual producer inflation was registered for electricity and mining sectors with -4% and 45.1%, respectively…
Tehran forex, gold on a tear
Financial Tribune – The ascending order of the US dollar and euro continued on Wednesday, being sold respectively at 178,000 rials and…
Tehran construction material inflation at 35 percent YOY
Financial Tribune – The category of “ironware, rebar, profile for doors, windows and fences” with a 34.7% growth compared with Q3 and…
Iran hopeful of avoiding conflict with US over Venezuela-bound oil tankers
Euronews – Iran is hopeful the US will not resort to military action over it sending oil to Venezuela, the country’s ambassador…
Iran: Automakers might phase out Pride, Peugeot 405 in June
Financial Tribune – Automakers Iran Khodro (IKCO) and SAIPA are expected to end the production of two low-quality cars, Peugeot 405 and…
Tehran stocks closes 1.6% lower
Financial Tribune – Stocks tumbled in Tehran at the close of trading week Wednesday as investors continued to shun shares of major…
US unlawful sanctions threaten global public health: envoy
MNA – Iran’s Permanent Representative to the UN office in Geneva said that the US unlawful sanctions threaten global public health. He…
Sanctions, coronavirus cannot stop Iran’s production: Rouhani
MNA – Iranian President Hassan Rouhani said that the American virus and coronavirus can not stop Iran in the production field despite…
Iran dismisses new US sanctions as ‘fruitless and repetitive’
Reuters – Iran dismissed on Thursday new U.S. sanctions on several Iranian officials, saying they were a sign of the complete inefficiency…
US imposes sanctions on 8 Iranian officials, including interior minister
Press TV – The United States has imposed sanctions on 8 Iranian officials, including Iran’s Interior Minister Abdolreza Rahmani Fazli. The US…
Venezuela military to escort Iranian fuel tankers: defense minister
Reuters – Venezuela’s military will escort Iranian tankers delivering fuel to the gasoline-starved nation as soon as they enter the South American…
Venezuelans clamor for gasoline as US weighs response to Iran fuel shipment
Reuters | Mayela Armas, Vivian Sequera: With the United States weighing a response to a gasoline shipment from Iran to Venezuela, people…
Oil derivatives worth $133m sold via IRENEX in 1 month
Financial Tribune – Petroleum products valued at $133 million were traded in the international ring of the Iran Energy Exchange in the…
Iran’s copper ore extraction capacity tops 32 million tons
Financial Tribune – There will be more than 100,000 meters of deep explorations in copper ore mines in the current Iranian year…
Half of employed population in services sector
Financial Tribune – The services sector employed 50.3% of the Iranian employed population in the last fiscal year (March 2019-20), that is…
Share market ticks higher
Financial Tribune – Following a sharp rally a day earlier, Tehran stocks lost momentum again on Tuesday as investors turned their focus…
$2.7b pumped into bourse in 2 months
Financial Tribune – An estimated 450 trillion rials ($2.7 billion) in liquidity poured into Iran‘s stock market since the beginning of the…
Iran non-oil exports rising: CBI chief
Tasnim – Governor of the Central Bank of Iran said the country’s export of non-oil products has begun to grow as the…
Painful US sanctions have also led to great achievements in Iran
Press TV – US sanctions have caused immense pain and harm to Iranians over the years, but they also led to great…
US blacklists Chinese logistics firm over business with Iran airline
Reuters – Washington on Tuesday imposed sanctions on a China-based company it accused of acting on behalf of U.S.-blacklisted Mahan Air, the…
Chabahar port activity gains momentum
Financial Tribune – For the first time, all five berths of Chabahar’s Shahid Beheshti Port have been serving eight vessels simultaneously since…
Iran claims fuel shipment to Venezuela perfectly legal
Al-Monitor – In today’s Iran media roundup, Tehran condemned possible US interference with Iranian shipments of fuel to Venezuela. Iran is currently…
US unlikely to succeed in extending Iran arms embargo, says Russian ambassador
TASS – The United States is unlikely to succeed in its attempts to extend a UN arms embargo on Iran, Russian Ambassador…
Iran’s electricity exports rise
Financial Tribune – Electricity export from Iran s to neighboring countries shot up by 27.6% last year (March 2019-2020) compared to the…
Tehran stocks bounce back
Financial Tribune – Tehran Stocks rebounded on Monday as investors found share prices — depressed during a four-day bearish trend — attractive…
US charges Iranian company and executives with sanctions violations
The Wall Street Journal | Mengqi Sun: The U.S. charged an Iranian online financial services company and two of its senior executives…
Iranian court sentences man, wife to death for disrupting economy
Tasnim – An Iranian financial criminal and his wife have been sentenced to death on a charge of major disruption to the…
Iran chief banker says forex prices will be restored to normal levels
Press TV – Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati says he is sure foreign currency prices will return…
Iran calls for solidarity against pandemic, condemns US sanctions
Reuters – Iran called on Monday for global solidarity against the pandemic, but said that unilateral sanctions are “inhumane” and causing “unnecessary…