TEHRAN - Iran is grappling with a significant gas supply imbalance, with shortages estimated at 300 to 350 million cubic meters per day, according to Saeed Tavakoli, Deputy Oil Minister and CEO of the National Iranian Gas Company (NIGC). Speaking at a press briefing on Tuesday, he acknowledged that the country faces a serious energy deficit, requiring coordinated national management.

TEHRAN - A new framework for direct communication between the chambers of commerce of Iran and Armenia has been established following a meeting between Mohammad Reza Bahraman, Vice President of the Iran Chamber of Commerce, Industries, Mines and Agriculture, and Karen Ivanov, Deputy Head of the Armenian Chamber of Commerce and Industry.

TEHRAN - The 25th International Building Industry Exhibition (Iran Confair 2025) officially opened today at the Tehran International Permanent Fairground in a ceremony attended by Farzaneh Sadegh, Minister of Roads and Urban Development, Bahman Abdollahi, President of the Iran Chamber of Cooperatives, members of parliament from the Economic and Housing Commissions, and a large number of officials and industry representatives.

TEHRAN - The average annual income of Iranian households in 2024 exceeded their annual expenses, according to the latest figures from the Statistical Center of Iran.

TEHRAN - The head of Iran’s Chamber of Commerce, Industries, Mines and Agriculture has described the reopening of direct negotiations between Iran and the Financial Action Task Force (FATF) after six years as a “ray of hope” for the country’s business community. He emphasized that economic diplomacy centered on the private sector is the best way to navigate the nation’s current challenges.

TEHRAN - The head of the Iran-Armenia Joint Chamber of Commerce announced a rise in Tehran’s exports to Yerevan over the past three months, while assessing the outcomes of the Iran–Eurasia free trade agreement.

TEHRAN - The Eurasian Economic Commission’s Minister of Trade has expressed the bloc’s readiness to expand trade with the Islamic Republic of Iran, describing the outlook for cooperation as broad and going beyond the scope of the recently implemented free trade agreement.

TEHRAN - The Special Assistant to the Deputy Oil Minister for Petrochemical Affairs has announced that Iran’s total nominal petrochemical production capacity must reach 131.5 million tons by the end of the 7th Development Plan. Achieving this goal will require an estimated $24 billion in investment, making innovative financing models essential.

TEHRAN - President Masoud Pezeshkian emphasized the urgent need for implementing a nationwide electronic system to assign identification codes to all domestically produced and imported goods, saying it could significantly curb smuggling, prevent hoarding, and reduce national costs.

TEHRAN - The 25th International Building Industry Exhibition, the largest and most prestigious event of its kind in Iran and the Middle East, will be held from August 17 to 20 at the Tehran International Permanent Fairground.