Press TV - UK High Court this month will take up a case brought by Irans Bank Mellat against the British government over a 2010 freeze of assets, for which the lender is demanding $1.6 billion in compensation. The trial, due to commence on June 17 and last for five weeks, will hear that the UKs actions substantially damaged the bank's reputation ...

Financial Tribune Providing people with decent public transportation services is of high importance for cities worldwide and there is much room for improvement in Iran. The initiatives of urban managers of metropolises like Isfahan and Karaj for expanding their subway networks have recently gained momentum. The construction of tunnels for Line ...

Financial Tribune - The choice of cars available to Iranian customers has shrunk over the past year after the US reimposed harsh sanctions against Tehran. Almost all foreign partners of Iranian carmakers pulled out of the country after US sanctions targeted Irans automotive industries. Even international auto parts makers with decades-old ties ...

Tehran Times - Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) is planned to hold a conference on Irans mining exploration development, opportunities and challenges in Tehran on September 24. Explanations of new exploration programs, goals, and methods are also among the subjects which are going to be covered ...

Financial Tribune Iran Fara Bourses main index IFX was up 304 points or 9% during the month to August 22 to stand at 3,579 points. This indicates 59% growth during the five months since the beginning of the current fiscal year, IBENA reported. A total of 30.35 billion securities valued at 182.27 trillion rials ($1.62 billion) changed hands in ...

Financial Tribune A glance at unused capacities of Iranian airports reveals that the share of air transportation can reach 40-45 million passengers per year with the renewal of the country's short-, medium- and long-range fleet. At present, the figure stands at about 35.7 million passengers per annum, Donya-e-Eqtesad reported. As of last Iranian ...

MNA Iranian Energy Minister Reza Ardakanian has said that Iran and Turkey have reached agreement on electricity swap, adding that the volume of electricity exports to neighboring Turkey will increase. Iranian and Turkish energy ministers discussed resumption of trading electricity between the two sides in their meeting in Ankara on Monday evening ...

Financial Tribune - Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Persian Gulf War in 1991, after an attack on Saudi oil facilities on Saturday shut over 5% of global supply. But prices came off their peaks after US President Donald Trump authorized the use of the countrys emergency stockpile ...

Financial Tribune - Irans commercial exchanges with the United States saw a 70% decline during the first seven months of 2019 compared with last year's corresponding period to reach $49 million. Latest foreign trade data from the US Census Bureau show Irans import from the country amounted to 47.8 million from January to July, registering a year-...

Financial Tribune - Power consumption fell below 40,000 megawatts at the weekend after 127 days as temperatures dropped across the country. Consumption had surpassed 40,000 MW in May and increased gradually until July 22 when it reached a record 57,680 MW, about 1,000 MW more than last summer, the Energy Ministry news portal Paven reported. Soaring ...

Tehran Times - Iranian banking system has offered facilities to domestic economic sectors in the first four months of the current Iranian calendar year (March 21-July 22), stood at 2.188 quadrillion rials (about $52.1 billion), rising 30.9 percent from the previous years same period, IRIB reported. According to the data provided by the Central Bank ...

MNA Deputy Minister of Oil for Petrochemical Affairs Behzad Mohammadi said that Irans petrochemical industry needs $40 billion for materializing most of its objectives in relevant fields. He made the remarks in a press conference on Monday and added, Irans petrochemical industry needs $17 billion worth of investment to increase its production capacity ...

Financial Tribune - Major Iranian aluminum producers' output during the first five months of the current Iranian year (March 21-Aug. 22) stood at 103,593 tons, which indicates a 32% decrease compared with last year's corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization's latest report shows. Flagship ...

Financial Tribune - Economic analysts and business people have time and again called for reforming Irans decades-old Trade Law. However, they also strongly disapprove of legislators ongoing rush to pass the new reform bill. During a weeklong stretch this month, Iranian parliamentarians approved 12 chapters and 331 articles of Book of Commercial ...

Tehran Times - Production of copper concentrate by Irans National Copper Company during the first five months of the current Iranian calendar year (March 21-August 22) has been 5,000 tons more than the anticipated figure, IRIB reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). IMIDRO ...

MNA Iran will officially turn clocks back by one hour at midnight (1930 GMT) on Saturday, September 21, readjusting to standard time after six months of practicing Daylight Saving Time (DST). Hassan Khoshkhou, the caretaker of the Operations Department at Imam Khomeini airport, told IKAC press that all flights will be operated according to the ...

Financial Tribune - The Ministry of Industries, Mining and Trade will impose 20-25% tariffs on export of unprocessed minerals as of Sept. 23. According to Deputy Industries Minister Jafar Sarqeini, the decision is aimed at supporting domestic production, preventing export of unprocessed minerals and generating more value-added. Sarqeini noted ...

Press TV - Iranian authorities say ports north and south of the country have seen increased processing activity over the past six months despite American sanctions that have sought to negatively impact trade with the country. A Tuesday report by Irans ministry of transportation said load and unload was up 1.9 percent in 19 major ports between late ...

Press TV - Irans finance minister says better taxation polices over the past months, including a serious crackdown on tax evasion, have led to more tax revenues for the government. Farhad Dejpassand said on Wednesday that government revenues from tax collection in the period between late March and late August 2019 had increased by 35 percent compared ...

MNA The value of trade between Iran and Russia increased 24.6 percent from January to July, 2019. The trade value between the two sides has improved up to $1.33 billion in the said time, the same report confirmed. Russia exports to Iran presently stands at $99.3 million, registering 39.3 percent growth compared to the same period in the preceding ...