Iran’s Bank Mellat sues UK for $1.6 billion in damages
Press TV – UK High Court this month will take up a case brought by Iran’s Bank Mellat against the British government…
Tag Archives: economy
Subway expansion in Iranian metropolises
Financial Tribune – Providing people with decent public transportation services is of high importance for cities worldwide and there is much room…
Sanctions slash Iran’s automotive diversity
Financial Tribune – The choice of cars available to Iranian customers has shrunk over the past year after the US reimposed harsh…
IMIDRO to hold mining exploration conference on Sept. 24
Tehran Times – Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) is planned to hold a conference on Iran’s mining…
Iran Fara Bourse climbs 9% in 1 month
Financial Tribune – Iran Fara Bourse’s main index IFX was up 304 points or 9% during the month to August 22 to…
Iran’s air transport sector capacity high
Financial Tribune – A glance at unused capacities of Iranian airports reveals that the share of air transportation can reach 40-45 million…
Electricity swap with Turkey to resume: Iran energy minister
MNA – Iranian Energy Minister Reza Ardakanian has said that Iran and Turkey have reached agreement on electricity swap, adding that the…
Biggest oil price surge since 1991
Financial Tribune – Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Persian Gulf War…
70% decline in Iran’s trade with USA
Financial Tribune – Iran’s commercial exchanges with the United States saw a 70% decline during the first seven months of 2019 compared…
Power consumption in Iran falls below 40,000 MW
Financial Tribune – Power consumption fell below 40,000 megawatts at the weekend after 127 days as temperatures dropped across the country. Consumption…
Bank loans to economic sectors up over 30%
Tehran Times – Iranian banking system has offered facilities to domestic economic sectors in the first four months of the current Iranian…
Iran’s petchem industry needs $40bn for significant growth
MNA – Deputy Minister of Oil for Petrochemical Affairs Behzad Mohammadi said that Iran’s petrochemical industry needs $40 billion for materializing most…
32% decline in Iran’s aluminum output
Financial Tribune – Major Iranian aluminum producers’ output during the first five months of the current Iranian year (March 21-Aug. 22) stood…
Parliament censured over rush to rewrite Iran’s trade law
Financial Tribune – Economic analysts and business people have time and again called for reforming Iran’s decades-old Trade Law. However, they also…
Copper concentrate output 5,000 tons more than anticipation
Tehran Times – Production of copper concentrate by Iran’s National Copper Company during the first five months of the current Iranian calendar…
Iran’s flights to adjust to daytime saving time by Sep. 21
MNA – Iran will officially turn clocks back by one hour at midnight (1930 GMT) on Saturday, September 21, readjusting to standard…
Load and unload surge at Iran’s ports despite US sanctions
Press TV – Iranian authorities say ports north and south of the country have seen increased processing activity over the past six…
20-25% tariffs on unprocessed mineral exports from Iran
Financial Tribune – The Ministry of Industries, Mining and Trade will impose 20-25% tariffs on export of unprocessed minerals as of Sept.…
Iran tax revenues up by %35 amid evasion crackdown: Minister
Press TV – Iran’s finance minister says better taxation polices over the past months, including a serious crackdown on tax evasion, have…
Iran-Russia trade boosts 24.6% in 6 months: report
MNA – The value of trade between Iran and Russia increased 24.6 percent from January to July, 2019. The trade value between…
Iran digital payments transactions grow 26%
Financial Tribune – An estimated 2.35 billion transactions worth 2,617 trillion rials ($23.05 billion) were processed by Iran’s domestic payment network, Shaparak,…
Positive projections for Iran’s petrochem sector
Financial Tribune – Annual petrochemical output in Iran will reach 100 million tons by 2022, managing director of the National Petrochemical Company…
Water crisis will cripple Iran’s future economic plans
Financial Tribune – A conference was held last week at the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) in Mashhad…
Tehran moving toward power efficiency
Financial Tribune – Wastage in Tehran’s power grid was reduced from 3.2% to 2% last February, managing director of Tehran Regional Electric…
Iran posts first trade deficit with Turkey in 18 months: Report
Press TV – A new report shows Iran’s trade surplus with Turkey has been narrowed to record lows as exports of oil…
Railway development highly dependent on private sector’s involvement
Tehran Times – Expanded transportation via railway is today one of the major pillars of sustainable development for the countries; and it…
Iran gov’t invests $225m in innovation fund
Financial Tribune – The Iranian government has agreed to invest 26 trillion rials ($225 million) in Iran National Innovation Fund to support…
Iran gov’t says more cuts likely in cash subsidy list
Financial Tribune – The Ministry of Cooperatives, Labor and Social Welfare will initiate the identification of households belonging to the top three…
TEDPIX gains 11,504 points in a week
Tehran Times – TEDPIX, the main index of Tehran Stock Exchange (TSE), has risen 11,504 points, or four percent, to 278,674 during…
6th line of Iran’s national gas network ready to go on stream
Tehran Times – Managing Director of the National Iranian Gas Company (NIGC) said the country’s two western gas pipelines, namely the sixth…
Iran’s Gini Index up 2.8%
Financial Tribune – Iran’s Gini Index was at 0.4093 in the last fiscal year (March 2018-19), indicating that the gap between the…
Iranian government’s tax revenues rise 45% to $4.6b
Financial Tribune – Tax revenues have risen by 45% in the first five months of the current fiscal year (started March 21)…
Ground broken for handicrafts marketplace in eastern Iran
Tehran Times – Construction of a permanent handicrafts marketplace officially began on Wednesday with a ground-breaking ceremony in the city of Sarbisheh,…
Iran’s NIGC still hopeful of gas deal with Pakistan
Financial Tribune – The National Iranian Gas Company does not intend to file a lawsuit against Pakistan in the International Court of…
Iran’s non-oil foreign trade down 7% to $35 billion
Financial Tribune – Iran’s overall non-oil foreign trade (except crude oil, mazut, kerosene and exports via suitcase trade) during the first five…
Iranian product cuts agricultural water usage by half
Tehran Times – Researchers at the International University of Imam Khomeini have manufactured a product, capable of reducing water consumption in farms…
Iran imported nearly $1b worth of rice until August: Customs office
Press TV – Rice, corn and oil-rich seeds top Iran’s list of food imports, shows five-month data by Iran’s customs office, amid…
Iranian banks’ foreign assets up 13%
Tehran Times – The total value of Iranian banks’ foreign assets by June 21 stood at 9.245 quadrillion rials (about $220.11 billion),…
Tehran City’s real estate deals down 73% in a month on year
Tehran Times – The number of real estate deals in Tehran City fell 73.7 percent in the fifth Iranian calendar month of…
Iran spent over $720m on mechanized agriculture: Official
Press TV – An official from Iran’s ministry of agriculture says the country has spent over $720 million on machinery and technology…